Asian shares saw early gains on Monday, with bitcoin hitting a record high ahead of President-elect Donald Trump's inauguration. U.S. markets will be closed for a holiday. Bitcoin surged to $109,134 from $99,563, reflecting investor optimism in digital assets since Trump's election.
European markets also showed positive movements, with Britain's FTSE 100 up 0.1% and France's CAC 40 up 0.2%. Germany's DAX remained stable. Futures for the S&P 500 and Dow Jones Industrial Average were up 0.1%.
Asian markets responded positively, with Hong Kong's Hang Seng rising 1.8% and China's Shanghai Composite edging higher. In Japan, the Nikkei 225 climbed 1.2%, while the dollar weakened against the yen.
Global sentiment was buoyed by optimistic statements from U.S. and Chinese officials, easing concerns over trade tensions. In South Korea, the Kospi slipped 0.1%, while Australia's S&P/ASX 200 rose 0.5%. Taiwan's Taiex and India's Sensex also saw gains.
In the oil market, U.S. benchmark crude oil and Brent crude prices dipped slightly. On Friday, the S&P 500, Dow, and Nasdaq composite all posted gains. Oilfield services provider SLB reported better-than-expected results, boosting its stock price.
The tech giants, known as the 'Magnificent Seven,' including Alphabet, Amazon, Apple, Meta Platforms, Microsoft, Nvidia, and Tesla, all saw gains. Concerns over high stock prices were alleviated by positive U.S. inflation data, raising hopes for further interest rate cuts by the Federal Reserve.
Market volatility in recent weeks has been driven by changing expectations around Fed rate decisions, with lower inflation worries pushing stocks higher. The market remains sensitive to economic reports and central bank actions, influencing investor sentiment and asset prices.
