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European Stock Markets Start Holiday Week on High Note

As the last week of the year kicks off, European markets have opened higher. The DAX is up 0.8%, the CAC 40 has risen 1.05%, and the Euro Stoxx 50 is up 0.94% as of 03:10 ET (08:10 GMT).

The leading pan-Europan financing centre
The leading pan-Europan financing centre

China Reopening Boosts Asian Markets

News out of China helped push Asian markets higher on the day, with the Nikkei 225 rising 0.16% and the Shanghai Composite closing up 1%. Chinese officials announced that quarantine requirements for inbound travelers will be lifted on January 8th, potentially contributing to the market's upward momentum.

Strong Year-End Performance for Gold Futures

Commodity markets saw mixed results, with Crude Oil WTI Futures trading down 0.1% and Brent Oil Futures dropping 0.15%. However, Gold Futures continued their strong year-end performance, trading 0.65% higher.

EUR/USD and US Dollar Index Reflect Risk-On Santa Rally

The EUR/USD was up 0.1% at 03:15 ET (08:15 GMT) as the US Dollar Index dipped 0.2%, potentially indicating a risk-on-Santa rally to close out the year.

Top Euro Stoxx 50 Movers

Among the top performers on the Euro Stoxx 50, LVMH Moët Hennessy Louis Vuitton SE saw a 2% increase, Airbus Group SE rose 1.7%, TotalEnergies SE ADR increased 1.5%, Eni SpA rose 1.4%, and BASF saw a 1.3% increase. Grifols SA was the most notable decliner, down 2%.

Light Economic Calendar for Holiday Week

With the holiday schedule in mind, there are not many notable events on the economic calendar for the day. The Case-Shiller housing index, US retail inventories, and French bond auctions are among the highlights.