Benzinga | Nov 23, 2020 03:58AM EST

Positive Vaccine News, Economic Recovery Lift Global Markets

Major indices across Asia, Europe, and the U.S. are trading higher on Monday on positive vaccine news and economic recovery hopes. Regeneron Pharmaceuticals Inc.'s (NASDAQ:REGN) COVID-19 treatment secured Emergency Use Authorization from the Food and Drug Administration on Saturday.

The Dow futures are trading higher at 0.55%, and the S&P 500 futures are up by 0.46% on the last check Monday. WTI crude oil futures have gained 1.44% at $43.03, and the gold futures are up marginally by 0.05% at $1,837.40. Ten-Year Treasury yields are near-flat at 0.831%.

Asia: Japan's Nikkei 225 is closed for the Workers Day holiday. China's Shanghai Composite benchmark gained 1.09%, led by gains in materials, energy, and financial stocks. China's blue-chip index clocked its highest level since 2015, thanks to domestic economic recovery.

Hong Kong's Hang Seng Index closed higher by 0.07%, driven by healthcare and tech stocks.

Australia's S&P/ASX 200 went up by 0.34% on Monday, as the nation's manufacturing PMI improved significantly to 56.1 and the services PMI improved to 54.9, signaling expansion in manufacturing and services activities. Major states also lifted border curbs.

India's Nifty 50 index is trading higher by 0.70%, led by energy and tech stocks.

South Korea's KOSPI jumped 1.92% on Monday as foreigners remained net buyers for the 13th straight session. Samsung Electronics (OTC:SSNLF) and SK Hynix rose on an optimistic 2021 outlook. The consumer confidence index for November is due later today. The country's LG Chem has reportedly signed a contract with Tesla Inc.'s (NASDAQ:TSLA) China unit to supply batteries for the Elon Musk-led electric vehicle maker's Model Y, according to the Tasmanian.

Europe: Euro Stoxx 50 is trading higher by 1.01% at press time Monday. Manufacturing and Services PMI data for November is scheduled for release today.

London's FTSE 100 index is up by 0.61% at publication time, driven by gains in consumer, travel, and aerospace stocks. Manufacturing, Services, and Composite PMI data for November are due later today. AstraZeneca Inc. (NASDAQ:AZN) and Oxford University reported high efficacy for their COVID-19 vaccine candidate on Monday.

Germany's DAX has advanced by 1.18% on Monday. Banks, industrial, and tech stocks are pulling the index higher after it closed up for the third straight week. Investors will be watching for the Manufacturing and Services PMI data for November due today.

France's CAC 40 is up 0.89%, led by energy and industrial stocks. Spain's IBEX 35 has gained 0.82% in Monday's early open trade.

Forex Trading: U.S. Dollar Index futures are down 0.17% at 92.235. The dollar has weakened 0.11% against the Euro to $1.1867, 0.63% against the Sterling Pound to $1.3365, 0.06% against the Japanese Yen to ?103.78.

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