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Brent Crude Falls Below $40/BBL for the First Time Since June
The S&P 500 index SPX fell 2.8% to 3,331.84, clinching its first three-day losing streak in nearly three months with nearly 90% of all shares lower. The likes Apple AAPL, -6.72%, Microsoft MSFT, -5.41% and Amazon AMZN, -4.39% were among the Big Tech stocks to sink more than 4%, torpedoing broad market indexes. The Nasdaq…
Read MoreStocks Brush Off Last Week Jitters to Open Week Higher
EUROPEAN UNION European stocks broke off from the previous week’s selloff to start the week on a high. Monday’s 1.66% gain for the STOXX and 2.38% rise for the FTSE marked a positive start to the week with Wall Street counterparts closed for a holiday. The DAX also closed 2.00% higher despite German manufacturing data…
Read MoreMajor Market Moves on Friday were Attributed to the US Unemployment Rate Falling to 8.4%.
UNITED STATES A very quiet day on the cards due to Labour day bank holiday both in the US and Canada. Major market moves on Friday were attributed to the initial cheer of US unemployment rate falling to 8.4%. Headline NFP met expectations with around 1.371 Million. Then stock losses took hold led by the…
Read MoreRussian Markets Dropped after the Headline that Navalny was Poisoned by Novichok
US stocks closed at record highs second day in a row; yesterday S&P gained 1.5%, Nasdaq appreciated by 1% supported by reports that US officials restarted talks over an extension of support for out-of-work Americans. The yield on 10Y USTs lost 2.1 bps and closed at 0.649%. EUR currency lost 0.5% this morning after ECB…
Read MoreS&P Kicks Off The Month With Record Gains
UNITED STATES The S&P 500 index SPX added 26.34 points to close at a record 3,526.65 with a gain of 0.8% clinching its best August return since 1986. Major U.S stocks indexes closed higher ending near or above prior all-time records, as upbeat economic reports and dovish tones from the Fed helped feed the buying…
Read MoreCaixin Manufacturing PMI Records Highest Reading since 2011
UNITED STATES US stocks closed mixed on Monday albeit having had the strongest August performance in decades. The DOW shed 0.78% while the S&P was down 0.21%; the NASDAQ however gained 0.68%. The NASDAQ had its best monthly performance since 2000, while for the S&P and the DOW this August marked the best return since…
Read MoreUS Treasuries Sell off Sharply after Powell’s Inflation Comments.
UNITED STATES USTs had an oopsie yesterday with 10Y and 30Y yields jumping 9 bps and 14bps to yield 0.76% and 1.54% respectively at the time of writing, with both at their 2.5-month highs. Investors reacted to Powell’s remarks in Jackson Hall with a sharp bear-steepener, unsatisfied with the vague announcement of a new inflation…
Read MoreZAMBIN Bonds Sell Off as Central Bank Governor is Dismissed
UNITED STATES US stocks closed the week higher on Friday buoyed by some positive economic data; IHS Markit August PMI figures came better than expected with services notching almost 5 points at 54.8. the DOW led gains at 0.68% while the NASDAQ and S&P gained 0.41% and 0.34% respectively, both record closes. Yield on 10Y…
Read MoreFOMC Minutes Showed Uncertainty
The Wall Street closed lower on Wednesday as FOMC minutes from its July meeting shows no immediate plan to take unconventional measures to support the economy. S&P dropped 0.4%, Nasdaq lost 0.6%. The yield on 10Y USTs finished the day 1.6 bps higher at 0.6834%. Asian markets followed the US this morning, CSI is trading…
Read MoreDOW Closes Lower, But 6% off Record High
U.S stocks indexes did finish off the day on Tuesday, mostly in record territory, despite continued wrangling between Democrats and Republicans over further fiscal stimulus packages and concerns about how the economy will fare when an unprecedented raft of fiscal stimulus eventually burns off. The Dow fell 86.11 points, or 0.3%, to end at 27,844.91…
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