Stock markets are divided this Monday, as they approach a week rich in economic news : oil is suffering the consequences of the approaching transfer of power between Joe Biden and Donald Trump, the Canadian dollar is facing rumors of Justin Trudeau’s resignation, while luxury goods remain on a very nuanced trend.
Wall Street will remain closed this Thursday in observance of the national day of mourning for former US President Jimmy Carter, who passed away on December 29.
Oil prices fell on Monday due to the strength of the US dollar, ahead of the release of key Federal Reserve economic indicators and US employment data later in the week. Brent crude oil futures were down 0.4% this morning, reaching $76.23 a barrel, having reached their highest level since October 14 on Friday.
Although oil had made significant gains over the past five sessions, the announcement by the world’s leading oil exporter, Saudi Aramco, that it would raise crude prices for Asian buyers – in anticipation of rising demand – has weakened the market.
To continue reading this article, subscribe or log in to your account
Discover our plans
- Every day, keep up to date with the latest business news from the world of luxury.
- Receive the essential luxury business news by email every week
- Access all our events
- The Luxury Journals and Luxus Magazine in print and digital versions
Subscribe for 1€
Become an active member of the community of luxury leaders.
Read also > Stock market : What can the luxury sector expect in 2025 ?
Featured photo : © Getty Images
