Global stocks held gains, from Asian shares to US futures, for the last trading session of the week as investors continue to push prices higher prior to a major data release later today. Market optimism boosted by hopes of an economic recovery driven by recent positive vaccine developments, continues to increase investors’ risk appetite. This current situation is delivering a significant boost to energy shares, as well as oil markets, after this sector was one of the most heavily impacted by the Covid-19 crisis. In addition to the bullish leverage of higher demand for those assets, yesterday’s OPEC+ deal has also given another boost to black gold related shares.
Unsurprisingly, travel and leisure shares, such as airlines and cruise companies, are among the top performers today. However, Investors are likely to witness higher market volatility in the afternoon with key data release from the US, as the highly anticipated Non-Farm Payroll together with the unemployment rate for November are announced. The release could well lead to profit taking moves prior to the weekend.