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Global Markets Today: Asia, Europe Rise Cautiously As Virus Outbreak Weighs

Major world markets are trading in positive territory, but with investor caution, as rising coronavirus cases threaten the global economic recovery.

The Dow futures are trading lower by 0.24%, and the S&P 500 futures are down by 0.18% on the last check early Friday. WTI crude oil futures are up by 0.29% at $42.02, and gold futures have gained 0.20% at $1,865.20. Ten-Year Treasury yield is down by 1.3 basis points to 0.842%.

Asia: Japan’s Nikkei 225 fell 0.42% on Friday, down for the third consecutive session as rising COVID-19 cases dampen sentiment. The nation’s Core Consumer Price Index (CPI) fell 0.7% year-over-year in October and ticked lower by 0.1% MoM. The manufacturing and services activity shrunk in November due to nationwide lockdowns. 

China’s Shanghai Composite benchmark gained 0.44% on Friday after the People’s Bank of China kept the Prime Loan Rate unchanged at 3.85%. Investors cheered the move by China’s security regulator, allowing foreign investors to trade Dalian palm futures.

Hong Kong’s Hang Seng Index closed higher by 0.36% as the market clocked its third consecutive weekly gain. Hong Kong’s CPI fell by a marginal 0.20% YoY in October.

Australia’s S&P/ASX 200 shed 0.12% as the index snapped a four-day rally streak. Australia’s October retail sales increased by 1.6% MoM.

India’s Nifty is trading higher by 0.68% while South Korea’s KOSPI gained 0.24%, closing higher for the third week straight.

Europe: Euro Stoxx 50 is trading up by 0.79% at press time Friday. The bloc’s construction output for September fell by 2.93% MoM. Consumer Confidence Index data is due later today.

London’s FTSE 100 index is up by 0.67% at publication time. U.K.’s core retail sales for October showed strong growth, increasing 1.3% MoM and 7.8% YoY. The headline retail sales rose by 1.2% MoM and 5.8% YoY.

Germany’s DAX has gained 0.49% in early trade after October’s Producer Price Index rose by 0.1% MoM but fell 0.7% YoY, in line with the consensus on both counts.

France’s CAC 40 index and Spain’s IBEX 35 index are trading higher by 0.64% and 0.73%, respectively, on the last check Friday.

Forex Trading: U.S. Dollar Index futures are up by 0.09% to 92.368. The dollar strengthened 0.12% against the Euro to $1.1858, 0.10% against the Japanese Yen to ¥103.83, but weakened 0.05% against the Sterling Pound to $1.3268.

For news coverage in Italian or Spanish, check out Benzinga Italia and Benzinga España. 

© 2020 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.

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