Global markets are showing signs of a rebound as of December 24, 2024. Here's a snapshot of key indices:
In Asia, China's markets gained over 1% following the Finance Minister's commitment to increased government spending in the coming year. The Shanghai Composite Index rose by 1.3%, and Hong Kong's Hang Seng Index climbed 1.1%.
In Europe, the UK's FTSE 100 increased by 0.4%, and France's CAC 40 added 0.5%. Germany's markets were closed for the holiday.
In the Middle East, Gulf stock markets experienced early gains, supported by rising oil prices and robust U.S. economic data. Saudi Arabia's benchmark index increased by 0.1%, and Abu Dhabi's index saw a similar rise.
In the United States, markets are set for a shortened trading session ahead of the Christmas holiday. Futures indicate a mixed opening, with the S&P 500 futures up 0.1% and Dow Jones futures flat. Notably, Nvidia's stock rose 0.2% in premarket trading after a 3.7% increase on Monday, buoyed by a positive report from Morgan Stanley.
Investors are optimistic about a potential "Santa Claus rally," a historical trend where stocks perform well in the final trading days of December and the first two of January. Despite recent market fluctuations, analysts suggest there is potential for positive returns during this period.
This rebound should also be seen somewhat in crypto prices but the effect will be smaller !