The S&P 500, Nasdaq 100 and Dow futures are trading sharply higher, up 1.4% this morning, as investors like the over the weekend Biden win in the US elections and steer away from record highs Covid-19 US cases and potential government turmoil if US President Trump doesn’t leave office in a peaceful manner. EU markets are higher by 1.6% this morning as global markets rally and the Japanese NIKKEI closed the overnight session at 30-year highs, up 2.12%. All other Asian markets rallied to open the week deep in the green as well. The dollar index is trading higher from 2020 lows this morning, that’s after a dismal week, trading at 2020 lows at 92.27 versus majors. Most other FX markets are trading near the flat line. Gold and Silver are higher on the weaker dollar, Gold is up 0.4% and trading at $1,958 per ounce while Silver trades at $25.52 per ounce, up 0.88%. Oil is trading higher this morning despite the Covid-19 surge in the US and EU lockdowns, trading at $38.05 per barrel, up 2.12%, as investors join commodities optimism on the weaker dollar and Biden election.

There is no important news on the agenda Monday, (all times EST).

Global Markets 24 hours wrap-up
1 YEAR-4.05%-18.57%
Swing report
OIL36.291298030/1037.5stopped out
S&P50032661212,63030/103350stopped out

The S&P 500 and NASDAQ 100 futures are sharply higher this morning, up 1.4% on average, and trading at all-time highs levels on Biden’s over the weekend election win.

The FTSE and the EURSXX50 open the trading week sharply higher on US President Trump defeat in the US elections.

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