Continuing a month-long upward movement, global stocks rose further on increased investor confidence. The European Central Bank's stimulus and improving US economic data have boosted investor confidence. Taking cues from Friday's gains on Wall Street and Europe, Asian stock also rose further on Monday.

Asian, European and the US markets are in upward swing in the wake of encouraging indicators. S&P 500 index closed last week at its highest this year so far. However, futures indicate flat opening for Dow Jones Industrial Average. Nonetheless, some analysts say futures contracts are not necessarily indicating market opening after the bell. Asian indices closed higher tracking previous week's closing gains in Europe and the US markets.

Global markets reacted positively after the announcement of stimulus measures by European Central Bank (ECB). Now, investors and market analysts are closely observing proceedings and outcome of meetings by Federal Reserve, Bank of England (BoE) and Bank of Japan (BoJ) this week. Some economists predict major changes in economic policies, as reported by The Wall Street Journal (WSJ).

Japan's Nikkei Stock Average added 1.7 percent after the US economic data that revealed 15 percent rise in Japan's core machinery orders in January 2016. Shanghai Composite index rose 1.8 percent supported by property stocks. Despite disappointing numbers from Chinese manufacturing sector, Chinese markets moved up. 

Meanwhile, automobile stocks propelled Germany's DAX index up 1.7 percent while Euro fell 0.4 percent against the US dollar to $1.1116. The weaker currency boosted stocks of exporting companies, according to Nasdaq.

Strategists at Morgan Stanley's global research team said in a research report "While we don't believe that a global recession is likely this year, the declining impact of lower oil prices and easier monetary policy on growth starts to worry us."

While the weekend elections in the country resulted in gains for anti-immigrant party and didn't have much impact on German bourse, majority of investors are still worried over the future course of markets as the latest rally is vulnerable. Supported by Shanghai and Tokyo stocks, Asia's regional benchmark index is nearing two-month high level. MSCI Asia Pacific Index rose 0.9 percent to 127.92 in Tokyo indicating its highest level since 5 January, as reported by Bloomberg.

Global markets witnessed upward movement for the past four weeks. Stocks recouped most of the losses in early 2016. Commodity prices are in stabilization mode and economic data from the US is also encouraging for the markets. Wall Street is nearing to a level from where it began 2016. Fears among investors about the US economy have greatly reduced.