Global equities appeared by-and-large unmoved on Tuesday, though hopes of a renewed Federal Reserve stimulus package gave European markets enough momentum to finish in the green.
As stated by Spreadex Financial Analyst, Connor Campbell: “Now that Trump, irresponsibly or otherwise, is out of hospital and back at the White House, hopes appear to have been stirred that the Democrats and Republicans can finally get a new covid-19 stimulus package over the line. That is unless the number of covid-19 cases on Capitol Hill continues to grow.”
“House Speaker Nancy Pelosi and Treasury Secretary Steven Mnuchin are set to engage in talks once again this Tuesday, so investors will be keeping an eye on any updates emanating from Washington.”
With some stirs of excitement, the Dow Jones initially rallied by around half a percent, before falling to a 0.34% dip, down to 28,053 points.
Responding to the Fed rumours and the Dow’s early rally, Eurozone indices bounced during the afternoon, with the CAC up by around a percent during mid afternoon, before relaxing down to a 0.48% rally, and finishing at 4,895 points.
Leading the charge was the DAX, also up by almost a percent, before dipping and remaining steady at a 0.61% rally, where it finished up 12,906 points.
Meanwhile, the FTSE failed to follow suit. Having bounced by half a percent after lunch, the British market then slid down to a modest 0.12% rally, up to 5,949 points.
Elsewhere in global equities, the Hang Seng rallied by 0.90%, the TOPIX bounced by half a percent, and the SSE Composite fell slightly, by 0.20%.