Benzinga | Dec 9, 2020 04:55AM EST

Global Markets Rise After S&P 500 Hits Record Close

Major indices worldwide are up on Wednesday, taking cues from S&P 500's record close above 3,700 for the first time.

The Dow and the S&P 500 futures are up by 0.16% and 0.12%, respectively, on the last check Wednesday. Brent crude futures are trading higher by 0.51% to $49.09, while gold futures are down by 0.65% to $1,862.80. Ten-year Treasury yield is up by 2.6 basis points to 0.939%.

Asia: Japan's Nikkei 225 gained 1.33%, closing at a 30-year high, after Japan's machinery orders jumped 17.1% month-over-month and 2.8% year-over-year in October. Manufacturing conditions, foreign bond-buying, and PPI data are due to release later today.

China's Shanghai Composite benchmark fell 1.2%, down for the third straight day on concerns of strain in the U.S.- China relationship. The country's consumer price index for November fell 0.6% MoM and 0.5% YoY, missing consensus on both counts. The producer price index fell 1.5% YoY, a less-than-expected 1.8% fall. In November, China issued new loans of CNY 1.43 trillion (roughly $218.7 billion) and its outstanding loans grew 12.8% YoY.

Hong Kong's Hang Seng Index gained 0.81%, after falling for two days, driven by financials and healthcare stocks.

Australia's S&P/ASX 200 closed higher by 0.61%, up for the seventh consecutive session on upbeat economic recovery. The continent's building approvals in October grew 3.8% MoM. Inflation expectations and business survey data are due later today.

India's Nifty 50 index is up 1.07% at press time, on-track for the seventh straight session of gains, in hopes of vaccine approvals and economic recovery.

South Korea's KOSPI gained 2.02% to close on a record high, led by Samsung Electronics Co Ltd (OTC:SSNLF) gaining 3.07% for a record high.

Europe: Euro Stoxx 50 is up by 0.85% at press time, after the bloc's Q3 GDP rose 12.5% QoQ but fell 4.3% YoY. Q3 employment gained 1% QoQ but fell 2.3% YoY. The economic sentiment for December improved massively to 54.4, compared to a consensus of 37.5.

London's FTSE 100 is up by 0.89%. Germany's DAX gained 1.12% at publication time after the nation's economic sentiment index for December improved significantly to 55. Germany's October trade balance surplus swelled to (euro)18.2 billion, from (euro)17.6 billion last month, as exports grew by 0.8% MoM.

France's CAC 40 and Spain's IBEX 35 advanced 0.65% in Wednesday's early trade.

Forex Trading: U.S. Dollar Index futures fell 0.24% to 90.752. The dollar has weakened 0.26% against the Euro to $1.2132, lost 0.52% against the Sterling Pound at $1.3422, but gained 0.04% against the Japanese Yen at ?104.19.

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