ALBAWABA – The commonly used United States (US) equity markets volatility index, VIX, has climbed over 21, from 13 in September, as stocks worldwide fluctuate amid uncertainty surrounding the prospects of the Israeli onslaught on Gaza.
S&P 500 futures contracts gained 0.3 percent after the gauge fell 0.5 percent on Friday, according to Bloomberg, with risk appetite dented.
Reuters reported S&P 500 futures gaining 0.4 percent on Monday to 4,153.5 and Nasdaq futures rising 0.5 percent.
Concerns pertaining to the ongoing onslaught on Gaza, a persistently hawkish Federal Reserve and underwhelming corporate earnings have all weighed on equities in the US and elsewhere.
Middle Eastern markets that opened on Sunday showed little sign of panic a day after the Israeli invasion of Gaza began.
The Israeli TA-35 stock index rose 1.3 percent, trimming its loss to 11 percent since the surprise Hamas attack on October 7, as reported by Bloomberg.
EUROSTOXX 50 futures slipped 0.1 percent and London’s FTSE futures gained 0.2 percent, according to Reuters, while Asian share markets were mixed on Monday ahead of central bank meetings in the US, UK and Japan.
Stocks worldwide muted by Israeli onslaught on Gaza as gold prices ease - Shutterstock
Notably, the Japanese central bank is expected to introduce significant policy tightening, especially with the Yen so close to the 150 threshold.
Japan's Nikkei fell 0.95 percent amid speculation the Bank of Japan (BOJ) might tweak its yield curve control (YCC) policy after its two-day policy meeting wraps up on Tuesday.
Elsewhere in Asia, the Shanghai Composite Index and China’s CSI Index are both rising for a fifth day.
MSCI's broadest index of Asia-Pacific shares outside Japan eased 0.04 percent, having hit a one-year low last week. Chinese blue chips firmed 0.6 percent, as reported by Reuters.
China Evergrande Group's shares fell as much as 23 percent in the morning session, though later trimmed losses to 5 percent after Hong Kong's High Court adjourned a request to wind up the embattled property developer.
The dollar was little changed against major peers, while the 10-year Treasury yield rose about four basis points. Gold prices slipped $2,000 an ounce, and Australian bond yields edged higher.
