The U.S. stock market remains closed today to celebrate Christmas. Last Friday, all three major indices, the Nasdaq 100 (NDX), S&P 500 (SPX), and the Dow Jones Industrial Average (DJIA), ended the week on a positive note for the eighth consecutive time. Promising November’s Personal Consumption Expenditures inflation figures and increase in consumer spending supported the rally.
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In major stock-specific news, Manchester United (MANU) has agreed to sell a 25% stake to British billionaire Jim Ratcliffe for $33 per share. Also, Ratcliffe will inject $300 million for the refurbishment of the Old Trafford stadium.
Among the key economic releases lined up this week, October’s Housing Price Index is set to be released on Tuesday. Also, November’s Pending Home Sales report will be released on Thursday. Additionally, the Chicago Purchasing Managers Index report for December is slated to be released on Friday. On the earnings front, there are no noteworthy companies scheduled to report this week.
Elsewhere, European markets are also closed today for Christmas, with trading scheduled to resume after a four-day break on Wednesday.
Asia-Pacific Markets End Higher on Monday
Asia-Pacific indices ended in the green on Monday, aided by positive comments by the Bank of Japan’s governor, Kazuo Ueda. He hinted that the central bank may change its monetary policy if the economy continues to recover well.
China’s Shanghai Composite and Shenzhen Component indices closed higher by 0.14% and 0.38%, respectively.
Similarly, Japan’s Nikkei and Topix indices finished higher by 0.26% and 0.04%, respectively.
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