Benzinga | Dec 28, 2020 04:20AM EST

Global Markets Cheer As Trump Clears COVID-19 Stimulus Bill

Major indices worldwide started the last Monday of the year on a positive note as outgoing President Donald Trump signed the $900 billion COVID-19 relief bill and battered for higher stimulus checks.

The Dow and the S&P 500 futures are trading higher by 0.41% and 0.62%, respectively. WTI crude futures are up by 0.52% to $48.48 and gold futures are up by 0.27% at $1,888.30. Ten-year Treasury yield is higher by 2.1 bps to 0.951%, and the VIX is down 0.94% to 23.60.

Asia: Japan's Nikkei 225 closed higher by 0.74%. The nation's industrial production for November remained flat but forecasted a 7.1% month-over-month growth for January.

China's Shanghai Composite closed marginally higher by 0.02%. Consumer stocks showed healthy gains, which were more than offset by losses in tech stocks.

Hong Kong's Hang Seng closed lower by 0.06% after Alibaba Group Holding Ltd (NYSE:BABA) tanked 8%, down for the second straight session. China's state regulators instructed Ant Group to stick to its traditional service of facilitating payments. The nation's November trade balance deficit narrowed to HKD 25.6 billion.

Australia's S&P/ASX 200 is closed for the Boxing Day holiday.

India's Nifty 50 index is trading higher by 0.84% at press time, driven by bank and metal stocks.

South Korea's KOSPI closed higher by 0.06% to a record high. Consumer confidence index data is due later today.

Europe: Euro Stoxx 50 has gained 0.93% at publication time inspired by Britain and the European Union signing the long-awaited Brexit deal. London's FTSE 100 is closed for the Boxing Day holiday.

Germany's DAX advanced 1.53% on the last check Monday, driven by technology, banks, and automobile stocks.

France's CAC 40 is trading higher by 0.90%. Jobseekers data is due later today.

Spain's IBEX 35 is up 0.73% despite November retail sales falling 4.3% YoY.

Forex Trading: U.S. Dollar Index futures are down 0.32% to 89.96, slipping below the crucial 90 levels. The dollar has weakened 0.27% against the Euro, 0.01% against the Sterling Pound, Japanese Yen, and the Chinese Yuan.

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