Share prices in global markets rose on Monday, helped by positive investor sentiment on interest rates and China’s economic stimulus measures.
Content will continue after ads
Advertising
US Federal Reserve Chairman Jerome Powell said in a speech on Friday that the Fed is ready to raise interest rates again, but vowed to proceed “cautiously,” stressing that the Fed would base its course on economic data.
Powell looked more “optimistic” and that could be a sign that interest rates won’t rise any further, said Jack Ablin, an analyst at Cresset Capital.
On the Shanghai Stock Exchange, share prices were boosted by China’s decision to lower its share trading tax for the first time since 2008.
The Dow Jones Industrial Average rose 0.6% to 34,559.98 on Monday, the Standard & Poor’s 500 rose 0.6% to 4,433.31 and the Nasdaq Composite added 0.6%, up 0.8% to 13,705 ,13 points.
The London FTSE 100 index was unchanged on Monday as the stock market was closed for the holidays, the Frankfurt DAX rose 1.0% to 15,792.61 and the Paris CAC 40 added 1.3% to 7,324.71.
WTI crude rose 0.3% to $80.10 a barrel in electronic trading on the New York Stock Exchange on Monday. The price of Brent oil on the London Stock Exchange fell by 0.1% to $84.42 per barrel.
On the Dutch exchange Title Transfer Facility (TTF), the price of natural gas rose by 10.5% on Monday to 38.41 euros per megawatt hour.
The euro rose against the US dollar on Monday from $1.0797 to $1.0820 per euro, the British pound rose against the US dollar from $1.2578 to $1.2600 per pound, and the US dollar rose against the Japanese yen from 146.44 to 146.50 yen per dollar. The euro rose against the British pound from 85.82 to 85.85 pence per euro.