Global Shares Edge Up On News Trump Signs Aid Bill

28/12/2020 U.S. and European equity futures pushed higher with most Asian stocks Monday after President Donald Trump signed a coronavirus stimulus package. The dollar ticked lower with Treasuries. The JSE closed 0.32% and the Top-40 0.31% on Thursday, while the rand slipped as covid-19 infections spike. South African coronavirus cases since the start of the pandemic surged above the one-million mark on Sunday and the government is considering reinstating a total ban on liquor sales. Gold headed for the highest close in seven weeks after President Donald Trump signed a $900 billion coronavirus stimulus package, pumping more state funds into the world’s top economy. Silver surged.

ECONOMIC DATA:
• 2pm: (SA) Nov. Trade Balance Rand, prior 36.1b

EU/UK/US
European stocks broke for the holiday season marginally higher as investors were still awaiting the much-heralded “imminent” Brexit trade deal. The pan-European STOXX 600 index was up 0.17%,
London’s FTSE 100 closed up just 0.1%, while the DAX gained 1.26%.

The S&P 500 rose for a second day amid light trading with the U.S. stock market set to close early before the Christmas holiday. Volume was more than 45% below the 30-day average. The Dow firmed up 70 points, or 0.23%, on Christmas eve; the S&P500 nothed up 0.35%, the Nasdaq saw out the session 0.26%.
President Donald Trump signed a bill containing $900 billion in pandemic relief, backing down from last-minute demands that undercut his own negotiating team, risked a government shutdown and delayed widely supported economic aid as coronavirus cases continue to rise.

Here are some key events coming up:
• U.S. pending home sales and goods trade balance data are due Wednesday.
• U.S. initial jobless claims figures are published Thursday.
• Most global stock markets are closed Friday for New Year’s Day.

ASIA
Asia Pacific stocks were up on Monday morning after U.S. President Donald Trump added his signature to the latest stimulus measures. China’s Shanghai Composite was up 0.25% by 10:39 PM ET (3:39 AM GMT) and the Hong Kong’s Hang Seng Index inched up 0.10%. Tencent down almost 5% this morning. Alibaba and rivals like Tencent Holdings Ltd. now face increasing pressure from regulators worried about the speed with which they’re amassing hundreds of millions of users and gaining influence over almost every aspect of daily life. Beijing has lost patience with the outsize power of its technology moguls, increasingly perceived as a threat to the political and financial stability President Xi Jinping prizes most.