Overseas Trading: Global Stocks Climb Ahead of Yellen, 'Brexit'

The U.K. will vote whether to stay in the EU on Thursday, and the latest polls are mixed

Jun 21, 2016 at 8:48 AM
facebook twitter linkedin

Most Asian markets finished higher, on the back of Monday's massive gains. Stocks continued to react to the upcoming "Brexit" referendum, with recent polls mixed following the murder of U.K. lawmaker Jo Cox last week. Additionally, optimism was on the rise ahead of U.S. Fed Chair Janet Yellen's two-day testimony in front of Congress, which kicks off later today.

Japan's Nikkei outpaced its regional peers, tacking on 1.3% as the yen weakened. Finance Minister Taro Aso weighed in on the currency, saying the government has "no intention to easily resort to foreign exchange intervention" -- a quick switch from last week's position. Elsewhere, Hong Kong's Hang Seng added 0.8%, and South Korea's Kospi edged 0.1% higher. China's Shanghai Composite, meanwhile, gave back 0.3%.

European benchmarks are in the green at midday, after notching their best session since August on Monday. While Thursday's "Brexit" vote remains front and center, speculators will also be eyeing an upcoming speech from European Central Bank (ECB) President Mario Draghi, after Germany's constitutional court ruled in favor of the ECB's Outright Monetary Transactions (OMT) program. At last check, the French CAC 40 is up 0.7%, the German DAX is 0.5% higher, and London's FTSE 100 has added 0.1% as the British pound climbs to its loftiest level since early January.

Overseas Trading June 21

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. 


If you are not making money with options, you aren’t buying options like this…

There is no options strategy that more perfectly approaches trading the fastest moving and most volatile stocks available in the marketplace than this one. In fact, there is no strategy that better utilizes put options for optimal returns and a real trading edge over other traders in the exact same market. New options traders fail out at an incredible rate without proper trade research, execution timing, and option picking. Capitalize on Schaeffer’s 100+ years of options trading excellence with the most coveted product launch in company history. Don't waste another second... join us right now before the next round of trades are released!



Special Offers from Schaeffer's Trading Partners