The European stock market opened higher on Monday after a mixed day of trading in Asia the day before. A rise in coronavirus infections has prompted a number of countries to explore instituting additional protections to avert a new pandemic.
Austria declared a state of emergency earlier this week in an effort to prevent the spread of contagious illnesses throughout the nation. Last week, Austria’s Chancellor, Alexander Schallenberg, said that the country would begin requiring vaccinations on February 1.
Lockouts & Inflation Have Often Resulted In Increased Global Stock Prices
The Belgian government has decided to restrict COVID-19, and thousands of people took to the streets of Brussels on Sunday to express their dissatisfaction. At this point, Europe is the only region where COVID-19 deaths are increasing, according to a statement from the World Health Organization released last week.
Despite this, the market started the week off in a positive manner. On Tuesday, the DAX in Germany increased by 0.1 percent to 29,774.11, while the CAC 40 in Paris jumped by 0.3 percent to 7,130.80 points. DAX In the United Kingdom, the FTSE 100 index rose by 0.4 percent to 7,251.02 points.
S&P 500 and Dow Jones Industrial Average futures contracts showed a 0.3 percent gain on the first day of trading in the United States. Early Friday morning, the Nasdaq Composite was up 0.4% while the S&P 500 was down 0.1%. On Monday morning, the Dow Jones Industrial Average fell by 0.8 percent. The Russell 2000 index fell 0.9 percent to 2,343.16. Vice President Joe Biden’s decision to keep Jerome Powell in charge of the Federal Reserve is being closely watched by investors. Within the next several days, Vice President Joe Biden is expected to announce his choice for the nation’s most powerful economic position. LaelBrainard, a member of the Federal Reserve’s Board of Governors, has emerged as a prominent candidate for a second term as chairman.
Due to its pivotal position in deciding America’s economy’s course, this decision might have far-reaching effects. Korean stocks surged 1.4 percent to 3,013.25 points as Samsung Electronics’ shares rose 5.2 percent, the biggest company in the nation by market capitalization. Despite earlier losses, the Tokyo stock market’s Nikkei 225 index rallied to 29,774.11 points. The S&P/ASX 500 index lost 0.6 percent, sending the index down to 7,353.10 points.
In India, the Sensex plummeted by 2.5%. According to reports from China’s central bank, inflation and slow economic growth might lead to “quasi-stagflation,” according to information from China’s central bank. This remark shows that Beijing is under a variety of pressures. According to research issued on Tuesday by Nomura’s Ting Lu, China’s policy challenges include property financing limits, fresh breakouts of COVID-19, and tough laws to counteract them.
According to Ting, Beijing is getting more concerned about the downturn in the economy. It has begun to adjust its policy posture to avoid growth from dropping much lower. Stocks are up as companies have announced results that were greater than expected for the most recent quarter. Although the raw material costs have risen, the supply chain has been plagued by problems that might harm future profitability. According to studies, if prices continue to rise over a lengthy period, consumers may begin to cut down on their spending.
With over 15 years as a practicing journalist, Nikki Attkisson found herself at Powdersville Post now after working at several other publications. She is an award-winning journalist with an entrepreneurial spirit and worked as a journalist covering technology, innovation, environmental issues, politics, health etc. Nikki Attkisson has also worked on product development, content strategy, and editorial management for numerous media companies. She began her career at local news stations and worked as a reporter in national newspapers.