Asian stocks, EU equities and US Futures all traded higher on Tuesday, extending yesterday’s gains as “risk-on” sentiment prevails across the world. Market sentiment has been given a fresh boost after the US General Service Administration removed some uncertainty by acknowledging Joe Biden’s win in the Presidential election. While traders around the world were already buying on the back of progress on vaccine developments and positive macro data, the announcement by the GSA allows them to look further into the future, opening up bets on the Biden administration improving relationships with significant trade partners like China.
So far this market rally resurgence has had a really positive impact on oil markets and companies linked to them such as cruisers and airlines while techs shares have fluctuated.
