Stock Market News

Stock Market News for August 31

Let’s check-out the latest stock market news. S&P 500 futures rose by 0.5% in Tokyo, while the S&P 500 Index gained 0.7% Friday. Hong Kong’s Hang Seng Index increased by 1.4%, while Australia’s S&P/ASX 200 Index advanced 0.2%. Topix index surged 1.5% and Euro Stoxx 50 futures jumped 0.8%. Shanghai Composite Index added 0.8%, while the Kospi index eased 0.9%.

The Yen dipped 0.3% at 105.67 per dollar, while the offshore yuan jumped 0.1% to 6.8507 per dollar. The Bloomberg Dollar Spot Index varied after falling 0.9% Friday, and the euro stood at $1.1902.

The U.S. futures. Asian stocks increase while Yen slips

U.S. futures and Asian started to boost after equities reached fresh highs last week. The dollar index was the lowers for two years while the Yen began to gain, as Japan is searching for a new minister.

Shares in Japan rebounded because of Bekshire Hathaway Inc.’s (Which is Multi Conglomerate Company in the U.S.) purchase of stakes in five major trading businesses, Warren Buffet’s biggest investment in the nation.

China and Hong Kong boosted while South Korea dipped. Treasuries slipped while gold and crude oil gained.

On Friday, the S&P 500 reached its peak for a sixth consecutive trading session. The Nasdaq Composite also gained its maximum. Chinese economic activity rebounded in August as the world’s largest economy recovers from the coronavirus crisis.

Coronavirus infections in the United States are increasing again. Undoubtedly, the disease is not over. India reached its high daily spike, and infections worldwide hit 25 million.

Head of global market strategy at Natixis investment, Esty Dwek, said that while momentum has stopped in light of increasing infections, the economic rebound continues in the United States and Europe. He added that Central banks have already mentioned that they would remain Ulta-accommodative for a long time. Risk assets will remain supported, even if it will be hard.

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