Financial Markets Daily Report07 desembre 2020
Investors ended the week in a favorable mood and stocks rose across the board on Friday. U.S. stocks also closed higher despite signals that the labor market is losing steam (non-farm payrolls increased by 245k in November vs 610k in October) as investors focused on prospects of a new fiscal package.
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- Investors ended the week in a favorable mood and stocks rose across the board on Friday. U.S. stocks also closed higher despite signals that the labor market is losing steam (non-farm payrolls increased by 245k in November vs 610k in October) as investors focused on prospects of a new fiscal package.
- U.S. sovereign yields rose while euro area rates were little changed and the euro fluctuated around $1.21.
- Brent oil prices climbed towards $50 as markets digested the OPEC+ agreement to ease output cuts next year more gradually than previously planned (production will rise by 500k bpd in January instead of the 2 million planned).
- This week the focus will be on Thursday's ECB meeting, in which it is expected to announce a new stimulus package to sustain accommodative financial conditions throughout 2021. Also, the European Council will hold a regular meeting on December 10-11 amid pressing topics such as brexit and Hungary and Poland's veto to the EU budget.