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Elite Capital International: Tech giants related Stocks stays green; Market wraps up

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Stock market got a whipped of negativity after four days of rallying when panic in the growing numbers of confirmed coronavirus cases in some heavy populated states in America took over the positivity brought by the stimulus measures. Eight out of the eleven sectors decreased on today’s market which was led by the ‘Energy Sector.’

Even the news about ‘retail sale’ jump yesterday loss its magic as market opens this Wednesday.
– Nasdaq Composite closed up 0.15% for its eight positive day; up by 10.45% this year.
– S&P 500 closed down 0.36% for its first negative in four days; down by 3.63% this year.
– The Dow Jones Industrial Average closed down its market price by 0.65% lower, its first in the past four days; down by 8.48% this year.
– The MSCI World Index did a little development at 528.36, its highest in a week.

Treasuries price might have direct connection on what Federal Reserve Chairman Jerome Powell announce in a function meeting. According to him, there’ll be a movement from ETF to corporate bond buying.

He said, “Over time we’ll gradually move away from ETFs and move to buying bonds,” and added, “It’s a better tool for supporting liquidity and market functioning.”

– The yield on the benchmark 10-year Treasury note was little changed at 0.755%.
– The yield on the 30-year bond edged up to 1.550%.
– The yield on the 2-year Treasury has no change by 0.197%.

Sectors under commodities quite got the rally today. After two sessions of up and down crude oil futures declined but Gold advances fortunately.

– West Texas Intermediate crude decreased by -1.09% to $37.96 per barrel.
– Brent crude is down by -0.61% to $40.71 a barrel.
– Gold strengthen by 0.16% to $1,727.71 an ounce.

For more updates in finances and stock market visit us at Elite Capital International Limited or contact us thru email immediately.

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