The Swiss stock market According to pre-market data from Bank Julius Baer, trading will hardly be changed. Lonza (+ 0.8%) and Roche (+ 0.6%) protect the SMI from losses. Both pharmaceutical companies benefit from positive news. All other SMI stocks are trading slightly in the red.
On Wednesday, the euro expanded its high for two and a half years against the US dollar, which it had reached the day before. In the morning, the common currency cost up to 1.2084 US dollars and thus as much as last time in May 2018. At 1.2074 dollars it is now slightly below that again.
To the Franken moves Euro currently at the level he last saw in early June. At 1.0865 francs, it is only slightly below its previous daily high. The US dollar has meanwhile slipped below the CHF 0.90 mark and costs CHF 0.8998. It was this low for the last time after the SNB lifted the minimum exchange rate in early 2015.
After the friendly start of the month, the Dax According to calculations by banks and brokerage houses start lower on Wednesday. On Tuesday, thanks to hopes that the coronavirus crisis would be overcome quickly, he had gained 0.7 percent to 13,382.30 points. Regardless of advances in vaccine development, stock market traders turn their attention to the widespread pandemic and the economic consequences of the current restrictions on public life. They expect to draw conclusions about this from the German retail sales and the European unemployment figures.
In the afternoon (CET) the US employment data from the private employment agency ADP will be on the agenda. They give a taste of the official numbers on Friday. Experts expect 410,000 new jobs to be created in November, after an increase of 365,000 in the previous month. A few hours later, the US Federal Reserve (Fed) publishes its economic report, the so-called Beige Book. Stockbrokers expect further evidence of additional cash injections and cushioning of the consequences of the pandemic.
— IGSquawk (@IGSquawk) December 2, 2020
The Swiss Market Index is trading slightly lower at IG Bank at 0.17 percent.
The Asian stocks have on Wednesday Winnings given early. But hopes for additional US economic stimulus and Covid-19 vaccines supported market sentiment. Analysts believe the losses in global stocks are likely to be limited as major uncertainties about the outlook now ease.
“We had some positive news and a combination of optimism about the vaccine and stimuli from government and central bank remains,” said Michael McCarthy, strategist at CMC Markets. Pfizer and German BioNTech applied for approval of their vaccine candidate from the European regulatory authority on Tuesday. The competitor Moderna also applied for an emergency permit for the European market on Tuesday. In the USA, the debate about further economic aid will continue after the elections.
The Nikkei index comprising 225 values was 0.1 percent lower at 26,756 points. The broader Topix index rose 0.4 percent to stand at 1775 points.
The Shanghai stock exchange was 0.1 percent up. The index of the most important companies in Shanghai and Shenzen gained 0.2 percent. The MSCI index for Asian stocks outside of Japan rose 1.2 percent.
Im asian currency trading the dollar gained 0.1 percent to 104.40 yen and was down 0.3 percent to 6.5544 yuan. In relation to the Swiss currency, it was quoted 0.1 percent lower at 0.8990 francs. At the same time, the euro rose 0.1 percent to 1.2077 dollars and was barely changed at 1.0858 francs. The pound sterling stagnated at $ 1.3421.
Economic hope and further positive vaccine news have that Dow Jones Industrial gave a positive start to December on Tuesday. Initially, the leading index even managed to exceed the 30,000 points it had only reached the previous week, but it was unable to defend this level. In the end it was enough for an increase of 0.63 percent to 29,823.92 points.
Other important indices fared significantly better on Tuesday, with them even reaching record highs. The market-wide S&P 500 ultimately rose 1.13 percent to 3,662.45 points, while the technology-heavy selection index Nasdaq 100 advanced 1.52 percent to 12,455.33 points.