Market Drivers – European Session 22-11-2021

Stock futures rose in early morning trading Monday ahead of a short week of trading due to the holiday, a historically strong seasonal period on Wall Street.

Futures on the Dow Jones Industrial Average rose 101 points. The futures contracts for the S&P 500 and Nasdaq 100 index were also trading in the area, up 13.5 points and 63 points, respectively.

And financial markets in the United States will be closed, Thursday, on Thanksgiving Day, and trading on shares will be suspended early at one o’clock on Friday afternoon.

White House announced on Monday that Federal Reserve Chair Jerome Powell was nominated for a second four-year term by President Joe Biden.

Lael Brainard, who reportedly was the other top candidate for the position, will become the new vice-chair, the press release further revealed.

The European euro fell on Monday, approaching its lowest level in 16 months, on the back of growing fears of the repercussions of the new restrictions to besiege Covid-19 in Europe, at a time when Austria began a complete closure, while Germany considers emulating it.