Overseas Trading: Crude Oil Boosts Most Global Stocks

Rising crude oil has boosted global stocks as traders await Friday's U.S. nonfarm payrolls report

May 5, 2016 at 8:36 AM
facebook twitter linkedin


It was a low-volume session in Asia, with markets in both Japan and South Korea closed for holiday. However, Chinese stocks ended a choppy session higher, as wildfires in Canada and violence in Libya kept crude oil prices rising. Meanwhile, China's Caixin services purchasing managers index (PMI) showed expansion for April -- but to a lesser degree than was seen in March. Against this backdrop, China's Shanghai Composite finished the day up 0.2%, while Hong Kong's Hang Seng pared earlier losses to close just 0.4% lower.

Stocks in Europe are also sitting on modest gains at midday, as traders await Friday's U.S. nonfarm payrolls report. Energy stocks are rallying as crude oil climbs, while a round of mostly upbeat earnings reports in the U.K. overshadows a slump in the country's service sector PMI for April. London's FTSE 100 and the German DAX were last seen up 0.1% each, while France's CAC 40 was essentially flat.

overseas stocks may 5

Updated after European markets closed: While the German DAX widened its daily gain to 0.2% by the close -- as crude oil continued to gain ground -- London's FTSE 100 settled at a modest 0.09%. The French CAC 40, meanwhile, underperformed its peers, closing at a 0.1% loss.

Sign up now for Schaeffer's Market Recap to get all the day's big stock movers, must-know technical  levels, and top economic stories straight to your inbox.
 

Stop leaving money on the table with the same old broken options trading approach...

There is no options strategy that more perfectly capitalizes during earnings season better than this simple call and put buying strategy. Perfect for aggressive traders looking to recover their suffering portfolios so far in 2022. With the simplest possible options strategy, Schaeffer's team with 100+ years of options trading excellence, target 200% gains on every single trade. So many trades are being beaten down by the market, but don't be one of them! Don't waste another second... join us right now before the next trade is released! 

 
Schaeffer's Daily Bulletin Offer
 


 


 
Special Offers from Schaeffer's Trading Partners