Start of 2018 Sees World Stocks at Highs

The start of 2018 saw world stocks close to all-time highs on Monday powered by strong global growth.

The world index showed little movement, after gaining 2.5 percent since the start of the New Year and was trading just below record highs.

On Wall Street the Dow Jones gained 2.3 percent, the Nasdaq gained 3.4 percent and the S&P 500 climbed 2.6 percent. Investors are hoping that the tax cuts by the Republicans will create higher company profits.

Head of European rates strategy at Mizuho International in London, Peter Chatwell said that the U.S. jobs report on Friday has strengthened the expectations of fast growth and low inflation for this year.
The Stoxx Europe 600 index reached its highest in two years gaining 0.3 percent after Hong Kong to Sydney shares climbed. Markets were closed on Monday in Tokyo for a holiday.

On the Emerging Market Index, the MSCI made gains of 0.3 percent.

Economic Data from the euro zone which showed economic growth supported the euro, with STOXX 50, euro zone blue chip stocks gain 0.23 percent. France CAC 40 gained 0.3 percent whilst Germany’s DAX also gained 0.31 percent.

Currencies

The euro fell 0.3 percent against the U.S. dollar to $1.1992.

The Pound Sterling fell 0.2 percent to $1.3541.

Commodities

West Texas Intermediate crude oil was at $61.80 a barrel up 0.6 percent with declines in the amount of new U.S. rigs drilling.

Gold spot prices fell 0.05 percent after four weeks of posting gains.

Copper prices were at $3.23 a pound.

Pepperstone Forex and CFDs brokerage provider offers traders a choice of over 70 assets of currency pairs, indices, commodities, metals and cryptocurrency trading.
Situated in Australia, they have been the recipient of several awards for institutional grade spreads and trade execution. Traders looking to trade index CFDs or cryptocurrencies can benefit from the vast offerings Pepperstone have to offer, such as:

• Advanced trading platform which includes smart tools
• Personalized customer service 24 hours a day 7 days a week
• A free demo account, pre-loaded with $50,000 virtual funds for practicing trading
• Withdrawals of funds takes 1 day
• Maximum leverage of 1:500

Click here to trade with Pepperstone

*Trading Forex and CFDs can be a risk to your investments. You should only trade with money that you can afford to lose.

Leave a Reply