Global Markets Surge Amidst Trump's Tariff Policy Rebuttal

Global markets experienced a rise following President-elect Donald Trump's denial of rumors regarding a softer tariff policy. Trump's rebuttal, labeled as 'Fake News', drove up European stocks and global markets. Despite the turbulence from tariff speculations, major U.S. indexes and oil prices saw significant gains.

Global stocks experienced a notable rise on Monday, correlated with a drop in the U.S. dollar index. This market behavior followed a denial by President-elect Donald Trump of a newspaper report suggesting that his incoming administration might adopt a less aggressive tariff policy than previously indicated. European stocks and various currencies received a boost upon this development.

Trump discredited the report as another instance of 'Fake News' via social media. Tom Plumb, CEO and lead portfolio manager at Plumb Funds, noted the strategic use of these speculative reports, suggesting that they provide the President with an opportunity to distance himself from unfavorable narratives.

Notwithstanding the geopolitical tumult, Wall Street's key indexes gained momentum. The Dow Jones Industrial Average climbed to 43,108.79, while the S&P 500 and Nasdaq Composite also advanced. Oil prices soared owing to increased demand spurred by a winter storm in the United States.

(With inputs from agencies.)