The NASDAQ set a new all-time high on Monday, as tech stocks in the United States rallied, led by Facebook.
Facebook was up close to 2.36% as of writing, with Apple also rising by over 2% in today’s trading session.
These fresh highs come as stocks in the U.S. continue to shake off the disappointing jobs numbers released on Friday’s Non-farm Payrolls.
Many believe that this could be a result of new talks aimed at delivering securing a coronavirus stimulus package, with a bipartisan group of lawmakers said to be finishing touches on a bill.
Brexit deal on the brink of collapse
Brexit talks were on the brink of collapse on Monday, and required intervention from both British Prime Minister Boris Johnson, and European Commission President Ursula von der Leyen to keep them going.
With significant differences between the two sides, the negotiations were paused, quickly resumed as neither party seemed prepared for the ramifications of a no-deal Brexit could have on their respective economies.
The main sticking points for a deal continue to be, fisheries, competition rules and governance of their potential deal.
Germany’s DAX 30 was down 0.21% on the news, with the FTSE 100 marginally up.
Saudi raises Oil prices in Asia
A few days removed from OPEC and its allies agreed to ease production cuts by 500,000 barrels per day, Saudi Arabia announced it is increasing its prices for Oil to its Asian customers.
According to reports, Saudi Aramco opted to increase pricing for its “Arab Light crude” for Asia by 80 cents a barrel. Many in the markets had expected Aramco to increase pricing by 65 cents.
WTI Crude prices rose on the news, hitting an intraday high of $46.45, which remained close to its highest levels since March.
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Senior Market Analyst