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DAILY MARKET OVERVIEW
Today's Top Market Headlines – Nov 7, 2016
European Shares set to open higher after FBI cleared Clinton

European stocks are seen opening considerably higher today after news spread that the FBI stated in front of the U.S. Congress Sunday that it had found no new criminal charges against Democratic presidential nominee Hillary Clinton for using a private email server for government work. The markets rejoiced at the news with stocks and the dollar rallying triumphantly in early Monday trade. The news will have a domino effect on the markets as European futures trading point to higher openings for all major indices. Indicatively, Germany’s DAX is opening 1.8 percent higher, France’s CAC 40 will add 1.9 percent at the open, U.K.’s FTSE 100 is set to open 1.6 percent higher while the Euro Stoxx 50 futures point to a 2 percent higher open!

Asian Markets head for bullish close

Asian markets traded higher today, after the Bureau cleared presidential candidate Hillary Clinton for a second time. The former Secretary of State was notoriously accused of potential criminal charges in her use of a private email server probe. In today’s Asian markets, Japan’s Nikkei 225 added 1.6 percent to close at 17177.21, Australia’s S&P/ASX 200 added 1.4 percent to close at 5250.80 while China A50 closed 0.2 percent higher at 9935.17. Hong Kong’s Hang Seng also added 0.9 percent to last trade at 22850.00 while India’s Nifty added 1 percent to last trade at 8515.55 as of 7:35 GMT.

Dollar rallies on acquitted Clinton while oil prices edge higher

Oil prices rebounded on early Monday trading after Algeria Energy Minister Nouredine Bouterfa is confident OPEC members will stick to a pact made in September to cut output and added that the group’s technical committee was working hard on achieving a deal. It is worth noting that officials had met in Vienna last month to work out the details of the Algiers plan, but failed to reach an agreement. OPEC’s High Level Committee of experts are meeting again on November 25. Crude Oil futures added 1.2 percent for the day to last trade at $44.61 while Brent oil futures were last seen trading at $46.05 or 1.1 percent higher as of 7:30 GMT.
Oil prices continued to rally despite an increase in the value of the dollar after doubts over former secretary of state, Hillary Clinton’s dispersed when the FBI cleared her for the second time. The dollar surged against the Japanese yen adding 1.3 percent for the day to last trade at 104.41 JPY as of 7:30 GMT.