Investam-HK: Market keeps falling as Covid19 scare strengthened and halt reopening of economy

Market tumbled this Friday as investor’s anxiety grows due to the covid19 spike in most states in America which might halter the reopening of the economy. Texas and Florida who ended their lockdowns early have been the epicenters of America’s outbreak after both states reported new record high on coronavirus cases.

The Dow Jones (DJI) weakens together with Nasdaq Composite (IXIC) which recorded their worst day since June 11 of this year.

All of the three major indexes in stock market have recorded their weekly loss. Below are their common movements on todays’ market.

Stocks
– The Dow Jones Industrial Averages closed 730 points or 2.8% lower.
– Nasdaq Composite closed down by 2.6%.
– The S&P500 decreases by 2.4% its worsts’ loss since Wednesday.
As fears on the coronavirus spread arises, investors are in search with much safer securities which made U.S. government debt yields fell this Friday market. The additional 1.48 million jobless claims during the weekend of June 20 reports played a part in the decline.

Bonds
– The yield on the benchmark of the 10-year Treasury note depreciated to 0.636%.
– The yield on the Treasury 30-year bond is down by to 1.379%.
– The yields on the 3-year and 5-year Treasury notes hit new record lows of 0.17% and 0.29%, respectively.
Oil prices are also down on today’s market but Gold kept its strength. The Gold index might grow stronger as the days pass by due to investors seeing it as their safe haven on this pandemic.

Commodities
– West Texas Intermediate crude is down by 0.59% lower to $38.49 a barrel.
– Brent crude fell by 0.07% lower to $41.02 per barrel.
– Gold quite strengthened by 0.32% to $1,770.22 an ounce.

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