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| | US Market |  | | NYSE | AMEX | Dow Jones | Nasdaq |  |  |  |  | | Please click on the images to view our interactive charts | | The major U.S. index futures are pointing to a roughly flat opening on Monday following the upward move seen last week.
Traders may be reluctant to make significant moves amid uncertainty about the economic impact of the ongoing U.S. government shutdown.
With traders shrugging off concerns about a potential government shutdown, stocks moved mostly higher over the course of the trading session on Friday. The gains on the day lifted the Nasdaq and the S&P 500 to new record closing highs.
The major averages saw further upside going into the close, ending the session at their best levels of the day. The Dow rose 53.91 points or 0.2 percent to 26,071.72, the Nasdaq advanced 40.33 points or 0.6 percent to 7,336.38 and the S&P 500 climbed 12.27 points or 0.4 percent to 2,810.30.
For the holiday-shortened week, the Dow and the Nasdaq both surged up by 1 percent, while the S&P 500 jumped by 0.9 percent.
The strength on Wall Street came as optimism about the outlook for the economy and corporate earnings overshadowed concerns about a government shutdown at midnight.
Stocks showed a lack of direction earlier the session, with traders keeping an eye on Capitol Hill as lawmakers attempt to reach a last-minute agreement on a spending bill.
House Republicans voted Thursday evening in favor of a short-term spending bill to fund the government until February 16th.
The spending bill includes a six-year extension of the popular Children's Health Insurance Program and also delays some Obamacare taxes.
However, the issue of protections for illegal immigrants brought to the country as children could doom the short-term spending bill in the Senate.
Democrats have demanded that any spending bill include a deal to provide protections for the illegal immigrants known as Dreamers.
After meeting with President Donald Trump on Friday, Senate Minority Leader Chuck Schumer, D-N.Y., said they made "some progress" but noted they "still have a good number of disagreements."
Schumer has expressed support for a bill funding the government for just a few days in order to keep both sides at the negotiating table.
Traders also seemed unfazed by a report from the University of Michigan showing an unexpected deterioration in consumer sentiment in the month of January.
The report said the consumer sentiment index dipped to 94.4 in January from the final December reading of 95.9. Economists had expected the index to rise to 97.0.
Tobacco stocks showed a significant move to the upside on the day, driving the Dow Jones Tobacco Index up by 2 percent. The index bounced off its lowest closing level in almost a month.
Philip Morris (PM), Universal (UVV) and British American Tobacco (BTI) turned in some of the tobacco sector's best performances on the day.
Considerable strength also emerged among trucking stocks, as reflected by the 1.6 percent gain posted by the Dow Jones Trucking Index. With the gain, the index reached a record closing high.
Brokerage, computer hardware and oil service stocks also moved notably higher on the day, contributing to the advance by the broader markets.
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| | U.S. Economic Reports | | | | CADUSD | Oil | Gold | Allbanc |  |  |  |  | | Please click on the images to view our interactive charts | |
The economic calendar for the week starts off relatively quiet before picking up in the coming days with reports on new and existing home sales and durable goods orders. |
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| | Europe |
European stocks were subdued on Monday as the U.S. government shutdown entered its third day and investors awaited cues from two major central bank meetings this week.
The pan-European Stoxx Europe 600 index was marginally lower at 400.90 in late opening deals after rising half a percent on Friday.
The German DAX and France's CAC 40 index were down about 0.1 percent each while the U.K.'s FTSE 100 was little changed with a positive bias.
Sanofi shares tumbled nearly 3 percent after the French drugmaker agreed to buy hemophilia drugmaker Bioverativ Inc. for $11.6bn.
Swiss banking giant UBS dropped 1.7 percent after it reported a 2.22 billion-franc ($2.3 billion) loss for the fourth quarter as a result of a large writedown related to the new U.S. tax overhaul.
Swiss luxury group Richemont lost over 1 percent after it launched an offer to take full control of Yoox Net-a-Porter. Shares of Italian online luxury retailer Yoox Net-a-Porter soared more than 24 percent.
Gambling firms slumped in London after reports that the government is set to limit gambling terminal stakes to two pounds. William Hill slumped 13 percent while Ladbrokes Coral shares fell over 10 percent.
On the positive side, South African retailer Steinhoff jumped almost 9 percent. The company is launching an accelerated bookbuild to place about 29.5 million shares in PSG Group Limited with qualifying institutional investors.
Germany's Deutsche Telekom rallied 1.6 percent after saying it is confident of hiking dividends in 2018.
British online supermarket Ocado Group soared 13 percent after announcing a partnership with Sobeys to develop an online grocery business in Canada.
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| | Asia | | | | USDCAD | USDEUR | USDGBP | USDJPY |  |  |  |  | | Please click on the images to view our interactive charts | |
Asian stocks turned in a mixed performance on Monday as investors waited for progress in talks to end the U.S. government shut down that began at midnight on Friday after the Senate failed to reach agreement over a short-term funding bill.
Investors also kept an eye on political developments in Europe after Germany's Social Democrats voted to enter coalition talks with Chancellor Angela Merkel's government and French President Emmanuel Macron said it would be possible for Britain to secure a bespoke trade deal if the U.K. accepts certain "preconditions".
China's Shanghai Composite index rose 13.50 points or 0.39 percent to finish at 3,501.36, its highest level since early 2016, helped by gains in defensive and technology stocks. Hong Kong's Hang Seng index was up 0.43 percent at 32,393 in late trade.
Japanese stocks closed little changed as safe-haven assets such as gold and yen edged higher following the U.S. government shutdown. The Nikkei average and the broader Topix index closed marginally higher at 23,816.33 and 1,891.92, respectively.
Brokerage Nomura Holdings rose 0.7 percent, Daiwa Securities Group advanced 1.1 percent and insurer T&D Holdings added 1.6 percent. Automakers and shipping firms were among the worst performers.
Australian shares finished modestly lower, dragged down by financials and property developers. The benchmark S&P/ASX 200 index dropped 13.90 points or 0.23 percent to 5,991.90, while the broader All Ordinaries index ended down 13.10 points or 0.21 percent at 6,106.20.
National Australia Bank shed 0.6 percent on reports of a spin-off of its wealth business. The other three banks fell between 0.9 percent and 1.2 percent while realty firms GPT Group and Scentre Group lost around 1 percent each.
Mining stocks ended mixed, while gold miners Evolution and Northern Star rose over 1 percent. Domain Holdings Australia slumped more than 17 percent following the departure of its long-running CEO, Antony Catalano.
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| | Commodities |
Crude oil futures are slipping $0.08 to $63.23 a barrel after falling $0.58 to $63.31 a barrel last Friday. Meanwhile, an ounce of gold is trading at $1,332.30, down $0.80 from the previous session?s close of $1,333.10. On Friday, gold rose $5.90.
On the currency front, the U.S. dollar is trading at 110.86 yen compared to the 110.77 yen it fetched at the close of New York trading on Friday. Against the euro, the dollar is valued at $1.2241 compared to last Friday?s $1.2222.
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