Global Markets:
- Asian Stock Markets : Nikkei up 4.85%, Shanghai Composite up 0.92% Hang Seng up 0.37% ASX up 1.32%
- Commodities : Gold at $4,344.50 (2.50%) Silver at $70.362 (3.52%), Brent Oil at $83.30 (-4.60%), WTI Oil at $80.58 (-5.02%)
- Rates : US 10-year yield at 4.421, UK 10-year yield at 4.8410, Germany 10-year yield at 2.9993
News & Data:
- (USD) Prelim UoM Consumer Sentiment 48.9 to 46.1 expected
Markets Update:
U.S. stock futures climbed Sunday night as investors welcomed news that President Donald Trump said a peace agreement had been reached to end the conflict between the United States and Iran. Futures linked to the Dow Jones Industrial Average gained 342 points, or 0.7%, while S&P 500 futures rose 0.9%. Nasdaq 100 futures led the advance, jumping 1.4%.
Markets across Asia-Pacific also moved higher on Monday. South Korea’s Kospi surged 5.17%, while Japan’s Nikkei 225 gained 5.13% and the Topix advanced 3.63%. Australia’s S&P/ASX 200 rose 2.62%. Hong Kong futures traded slightly below the Hang Seng Index’s previous close.
Trump stated on social media that the agreement with Iran was complete, while Pakistan Prime Minister Shehbaz Sharif said an official signing ceremony would take place in Switzerland on Friday. Trump also authorized the reopening of the Strait of Hormuz, a key global oil shipping route, causing U.S. crude prices to fall nearly 5%.
The announcement followed renewed tensions in the Middle East after exchanges of fire involving Israel and Hezbollah raised doubts about the deal’s completion.
U.S. stocks enter the week following strong gains, supported by SpaceX’s record-setting IPO. Investors will now focus on housing and retail sales data, along with the Federal Reserve meeting, where interest rates are widely expected to remain unchanged.
Upcoming Events:
- 12:30 PM GMT – CAD Manufacturing Sales m/m
- 12:30 PM GMT – CAD Wholesale Sales m/m
