Global Markets Rise in Buoyant Start to Trading
By Dow Jones Newswires StaffU.S. stock futures pointed to a higher open on the first full day of trading for the new year. International stock markets also gained, with some major indexes logging fresh record highs in a buoyant start to trading. Meanwhile, the U.S. dollar held steady while Treasury yields rose on day light on data. Gold and silver prices gained.U.S. futures for the Nasdaq rose 0.9% early in European hours, those for the S&P 500 were up 0.5% and futures for the Dow Jones Industrial Average climbed 0.2%. Changes in futures do not necessarily predict movements after the opening bell.The pan-European Stoxx 600 index hit a new record high as European indexes started the new year up across the board. The Dutch AEX opened up 0.85%, spurred by early gains for semiconductor stocks. The Italian FTSE MIB gained 0.5%, France's CAC 40 climbed 0.3%, led by Airbus which gained 1.7%. Spain's IBEX 35 opened up 0.15%, while the German DAX climbed on gains for defense stocks.Industrials and precious metals miners also pushed the U.K.'s FTSE 100 up to a new record, topping 10,000 for the first time. Fresnillo gained 5.2% as silver rebounded after a volatile week.In Asia, stock markets in Japan and China were closed. Elsewhere, South Korea's Kospi closed out up 2.3% to also notch a fresh record high, while Hong Kong's Hang Seng gained 2.8% as the tech sub-index pushed up 4%.The U.S. dollar was steady against a basket of currencies and against the euro in quiet trade after the New Year holiday. Last week's U.S. Federal Reserve meeting minutes showed that some policymakers were reluctant to support further interest-rate cuts in the near term. Still, the minutes continued to highlight risks to the labor market. The DXY dollar index was steady at 98.337 early in Europe while the euro was little changed at $1.1737. Bitcoin edged modestly higher, up 0.8% to $89,008.U.S. Treasury yields rose as they started trading in European hours. The data calendar is thin on Friday before it returns to regular releases next week, including labor market data, a key input for Federal Reserve policy. The two-year Treasury yield was recently up 1.9 basis points at 3.487%, while the 10-year Treasury yield rose 3.6 basis points to 4.188%, according to Tradeweb data. Eurozone government bond yields and U.K. gilt yields also rose, tracking the moves in Treasurys.Gold rose as geopolitical tensions continued. New York futures were recently up 1.1% at $4,389.50 a troy ounce, partly reversing losses in the last few days of 2025 trading. Tensions between Saudi Arabia and the United Arab Emirates have risen as the states' proxies clash in Yemen, with geopolitical risk supporting the safe-haven asset. The precious metal had notched its largest one-year net gain on record in 2025. Silver also clawed back losses caused by the CME Group's increased margin requirements at the end of 2025. New York futures were up 4.95% at $74.095 an ounce and have more than doubled over the past year.Brent crude rose 0.8% to $61.32 a barrel and WTI crude gained 0.8% to $57.89 a barrel. The European benchmark price for natural gas, the Dutch futures contract TTF, was up 1.8% to 28.66 euros a megawatt hour.Write to Barcelona Editors at [email protected]