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Home»Business»Dow Futures Rise As China’s Reopening Fuels Year End Market Optimism
Business Updated:April 1, 2023

Dow Futures Rise As China’s Reopening Fuels Year End Market Optimism

Amber HeardBy Amber HeardDecember 30, 2022Updated:April 1, 2023No Comments5 Mins Read
Dow Futures Rise As China's Reopening Fuels Year-end Market Optimism
Dow Futures Rise As China's Reopening Fuels Year-End Market Optimism
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Table of Contents

  • Dow Futures Rise As China’s Reopening Fuels Year-End Market Optimism
  • Stocks rise around the world as data shows strength in the American consumer boosted confidence in the U.S. economy
  • China’s economy slows in December as COVID-19 spread across the country
  • Industry metals and oil higher as the worst commodities rout since the financial crisis
  • Markets will be closed on Monday, December 26, in observance of the Christmas holiday
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Dow Futures Rise As China’s Reopening Fuels Year-End Market Optimism

The Dow futures are rising as the Chinese market opens after a two-month shutdown and a year-end rally fuels optimism. Industry metals and oil are up and the worst commodities slump since the financial crisis pauses. Markets will be closed on Monday, December 26, in observance of the Christmas holiday.

Stocks rise around the world as data shows strength in the American consumer boosted confidence in the U.S. economy

A rally in consumer confidence led to a strong rebound on Wall Street on Friday. Investors were also encouraged by news that China would soon end its quarantine on inbound travelers.

The Dow rallied 375 points after the report. Consumer confidence rose to the highest level in eight months and labor markets remained robust.

After an uncharacteristically tumultuous start, the Dow recovered. Futures showed a 0.2% rise. But, the S&P 500 and the Nasdaq failed to break above early October levels.

Inflation expectations fell to 6.7%. Meanwhile, the annual inflation rate in Brazil declined to the lowest point in more than two years.

Fed Chair Jerome Powell stressed the need for further rate hikes. He also stressed the potential impact of a tight labor market on inflation. This led to speculation that the Federal Reserve might have to raise rates sooner than expected.

Other key economic data released on Tuesday came in slightly weaker than expected. The consumer price index (CPI) increased by only 0.1 percent in November. However, core CPI was lower by 0.2%.

China’s economy slows in December as COVID-19 spread across the country

China’s economy has experienced its worst quarter in years. A combination of financial and environmental factors weighed down on China’s fragile property market. This has had a major impact on housing prices and home purchases. It has also contributed to a drop in consumer confidence and consumer spending.

China’s central bank cut short-term borrowing rates and boosted support for small and micro businesses. Meanwhile, the government’s economic package launched in June pulled all monetary and financial stops. However, this still left many uncertainties. The country’s growth rate is expected to be weak in the first quarter of 2020.

Another factor affecting the economy is the ongoing spread of COVID-19. As the pandemic continues to spread, China faces a number of challenges. Xi must decide how he will respond to the outbreak, including whether to further loosen pandemic restrictions.

One of the most damaging effects of the outbreak is its effect on Chinese consumers. While a growing number of countries have developed vaccines and treatments for COVID-19, China lacks clear information about the true extent of infections. In addition, China’s health structures have been affected, and many residents have not received adequate vaccines.

Industry metals and oil higher as the worst commodities rout since the financial crisis

The worst commodities rally in almost a decade has slowed to a crawl. While oil prices have consolidated and risk aversion has abated, industry metals and other commodities remain in a state of flux.

Copper, steel and metallurgical coal prices were in extremely volatile territory. However, in this case, the move was more of an outlier than a trend. Supply disruptions from multi-regional countries, coupled with strong demand conditions, created a perfect storm. At the same time, Russia’s invasion of Ukraine triggered a precautionary stocking of non-Russian coal. As a result, the entire metallurgical coal complex skyrocketed.

The windfall created by the loss of shipments from Russia has provided some respite to the sector. However, with the threat of further sanctions and a possible resumption of Ukrainian exports still looming, the supply structure remains under pressure. This lags the impact of inflationary pressures and is likely to persist in the 2023 financial year.

Similarly, the renewable energy industry will continue to experience cyclical swings. But the core fundamentals will remain in place. These include fluctuating demand from traditional end use sectors and long lead times for project delivery.

Markets will be closed on Monday, December 26, in observance of the Christmas holiday

If you’re one of the millions of Americans who are celebrating Christmas this year, you may be wondering when the markets will be closed for the holiday. Here’s what you need to know.

The stock market will be closed on Monday, December 26. In addition to the stock market, the bond market will also be closing early on that day. All government offices and courts will be closed, and most state offices and DMVs will be closed on that day as well.

Many stores will be closed on Christmas Day, including Walgreens, Best Buy, Walmart, GameStop, Target, and Costco. Some stores will be open with limited hours.

Most of the major banks will be closed on this holiday. However, some local grocers will be open with limited hours. You can check with your local store for more details.

Federal workers will be able to take the day off. However, most government offices, schools, and libraries will be closed.

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