Published Dec 31, 2018 06:17AM ET
Global Stocks Rise to End Volatile Year; Oil Jumps: Markets Wrap
(Bloomberg) -- Stocks around the world climbed at the end of a dismal year, with solid gains in U.S. equity futures after President Donald Trump reported “big progress” in trade talks with his Chinese counterpart. Treasuries were steady and oil rallied.
Miners and retailers led a second day of gains in the Stoxx Europe 600 Index, which was still on course for a decline of about 13 percent this year -- the biggest loss since 2008. Contracts on the Dow, Nasdaq and S&P 500 all rallied and shares in China climbed as Trump said in a tweet that negotiations toward a comprehensive trade deal were “moving along very well.” The dollar edged lower and copper advanced. The euro held steady against the greenback after Italy’s populist government won final parliamentary approval for its 2019 budget.
Even if Monday’s gains hold, major indexes remain down for 2018. Global stocks are set for their worst year since the financial crisis while oil is mired in its steepest quarterly slump since 2014. Plenty of event risks loom in the next 12 months, from the U.K.’s exit from the European Union to U.S.-China trade talks and the continuing showdown between President Trump and Congress over the budget. The American political landscape is also unsettling investors following departures of senior officials and Trump’s repeated criticism of Federal Reserve Chairman Jerome Powell.
Elsewhere, emerging-market shares climbed and their currencies were steady even as factory data from China contracted.
Here are some events investors may focus on in coming days:
And these are the main moves in markets:
Stocks
Currencies
Bonds
Commodities
Written By: Bloomberg
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