On Friday European stock markets traded in negative territory as a reemergence of Covid-19 cases in China pulled back the positive sentiment generated by U.S. President-elect Joe Biden’s $1.9 trillion stimulus plan. The pan-European Stoxx 600 fell 0.3% in early deals, with oil and gas stocks shedding 0.8% to lead losses as all sectors and major bourses slid into negative territory.
Bitcoin’s price record-breaking rally has led to a surge in retail investment interest in the cryptocurrency market. Crypto exchanges such as Coinbase and Binance and online trading platforms including Revolut and eToro have seen a spike in activity recently, as new investors race to capture some of the wild gains in the market.
The S&P 500 and the Dow eased from record levels on the first trading day of the new year today as nerves over the outcome of runoff elections in Georgia this week countered optimism over a vaccine-driven recovery in the global economy.
Gold and silver’s rallies could continue into 2021. The two precious metals closed out their best years since 2010 on Thursday following a year of unprecedented volatility brought on by the coronavirus pandemic.
Gold prices, though little changed in holiday-thinned trade today, were on course for their best annual performance in a decade. Spot gold, up more than 24% this year in its best performance since 2010, was almost flat at $1,893.10 per ounce as of 1240 GMT.
On Wednesday U.S. stocks opened higher as investors hoped that Covid-19 vaccine rollouts and a bigger fiscal aid would help the world’s largest economy recover from coronavirus pandemic-fueled slump in 2021.
The S&P 500 and the Dow Jones hovered at record levels in choppy trading on Tuesday as bets that fiscal aid will fuel a vaccine-led economic recovery boosted sentiment in the final days of 2020.