MeritKapital News
EU stimulus delayed after Hungary and Poland veto the budget proposal
The nervousness in markets, spurred by the renewed public health restrictions around the world, dominated the sentiment yesterday, leading to profit-taking emerging in risk assets. Japan and South Korea raised their public health alert levels, while New York City announced that it had stopped in-class teaching and cut subway and bus services. The market reaction…
Read MoreRISE IN VIRUS CASES DAMPENS VACCINE HOPES FOR GLOBAL MARKETS
In Wall Street, markets seemed to close lower given how the S&P 500 and Dow Jones Industrial Average closed at records in a rally fueled by progress toward a Covid-19 vaccine. The Dow Jones Industrial Average DJIA dropped 167.09 points to close at 29,783.35, the S&P 500 SPX fell 17.38 points to end at 3,609.53…
Read MoreStocks surge as Moderna announces successful COVID-19 vaccine trials
US stocks were buoyed by the 94.5% success rate in the Moderna COVID-19 vaccine to ink fresh records. The news overshadowed the rising infection rates and hospitalisations currently being seen in the US with Moderna saying it plans to submit an Emergency Use Authorisation with the FDA in the coming weeks. The DOW rose 1.59%…
Read MoreThe market continues to be balancing between hopes for successful vaccine and the prospect of stricter containment measures.
This Monday markets are opening in a positive mood supported by renewed hopes for Pfizer’s coronavirus vaccine and positive news from Asia even given continuing rise of new Covid-19 cases all over the world. The market continues to be balancing between hopes for successful vaccine and the prospect of stricter containment measures. This is going…
Read MoreOPEC Meeting.
US stocks closed higher on Wednesday, Nasdaq outperformed S&P (+2% vs +0.8%) as technology stocks appreciated after the optimism of vaccine news faded. Due to Veterans Day US accounts were offline yesterday, USTs were not trading. The ECB president Lagarde said that the bank will use its emergency bond-buying and ultra-cheap loans to banks as…
Read MoreOIL SEMMINGLY LOOKING TO EXTEND GAINS
In Wall Street, the Dow Jones Industrial Average rose 262.95 points, or 0.90% to 29,420.92. The tech rout weighed on the S&P 500 and the Nasdaq Composite, sending them down 4.97 points, or 0.14% to 3,545.53, and down 159.93 points, or 1.37% to 11,553.86, respectively. Although stocks were mixed Tuesday, the overall tone of the…
Read MoreMarkets open in a positive mood with Biden winning the US elections, although Corona virus shows no signs of slow down.
Democrat Joe Biden wins US elections claiming 270 electoral college votes on Saturday, while Republican appear to have retained control of the Senate with a final runoff votes due in Georgia in January. At the same time Corona Virus shows no signs of slow down with worldwide infections surpassing 50 Million. In Europe the 15th…
Read MoreBiden’s lead is widening, NFP numbers on the horizon
While the election saga continued in the US and Trump’s chances of winning keep decreasing with more votes being counted, the markets sustained its positive sentiment on the day, pricing out the uncertainty of the next president and welcoming the democratic lead, although risk assets gave up some of their daily gains after US investors…
Read MoreUS Elections
All eyes yesterday were on US elections which turned on to be a really close race. Analysts were counting chances of candidates to win in different states and the story is still not over, however, after winning Wisconsin and Michigan we can be almost sure the Joe Biden will be the next US president. Stocks…
Read MoreTurkey inflation rises as lira rout continues.
US stocks closed higher on Monday despite a sell-off in tech ahead of Tuesday’s elections. The DOW led, up 1.59% while the S&P was 1.23% higher. Tech stocks held back the NASDAQ which closed a comparatively modest 0.42% up. Yield on 10Y USTs closed lower at 0.8434%. Asian markets followed Wall Street’s lead closing higher…
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