Asian stocks and oil prices - Strengthening the hopes of investors

Stock markets in various continents are now becoming fully stable as the investors have started attaining confidence. The governments in various countries are relying on policy stimulus programs. Many high-profile central banks are likely to hold monetary policy meetings such as the Bank of Japan, the European Central Bank, the Bank of England, the U.S. Federal Reserve and many more. The investors are also watching the movement of these banks. Asian stocks were edging higher, and it was good news. The MSCI's broadest index of Asia-Pacific shares outside Japan rose by about 0.8%. Growth of 1.0% was seen in Japan's Nikkei. The sentiment of large manufacturers is at its best place since late 2018 according to various surveys. The Chinese stocks managed to add 1.4% to the 3.1% jump of last week. There are hopes that Beijing will pour more stimulus. The S&P 500 futures and Nasdaq futures both made gains. The FTSE futures rose by 0.3%, and EURO STOXX 50 futures made a gain of 0.5%.

The condition of the US Dollar was completely stable, and the index was firm at 96.139. Similar was the condition of the precious metal, gold was standing at $1,786 an ounce. According to the recent data, the US annual consumer prices made a gain of 6.8%. The auto stocks (.SXAP) were also stable. The Daimler AG (DAIGn.DE) made a gain of 2.9% as the Daimler truck performed impressively on the Frankfurt Stock Exchange. Tobacco group Swedish Match (SWMA.ST) also made a major gain of 7.2% after the US Democrats decided to drop the proposed vaping tax. The Polish fashion retailer LPP (LPPP.WA) made a major gain of 10.2%, touching its record fresh high figure.

The oil price and demand are completely on track

After August 2021, it was seen that the oil prices were completely on track. The tourism sector is attaining momentum, and more aircraft are flying in the sky. Strong global economic growth and burgeoning fuel demand are also raising the price of oil. The Brent crude futures settled at $75.15 per barrel after gaining 0.98%. The US West Texas Intermediate (WTI) crude future advanced by 1.03%. It settled at $71.67 per barrel. The domestic air traffic in various countries is rising, and it is also keeping the oil demand in place. Consumer confidence is at a high place. The private sector in most countries is performing impressively and the economies of all major oil importers are completely stable. The condition of the US Dollar also impacts on the price of oil.

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