Redwood Capital Management Limited: S&P 500 and Nasdaq hits fresh high, Dow erased pandemic losses
Stock market has impressively ended today’s session all high, as investors’ sees optimism towards how the Federal Reserve handles the current issue and after the government release of positive economic data.
In the report, U.S. consumer spending rose 1.9% in July beating Reuter’s assumption of 1.5%.
Under commodities, expensive minerals like Gold, Silver and Copper bounce up more than 1%, while Treasuries ended up lower.
Here are the main movements in the Stock Market this Friday;
Stocks
– S&P 500 rose quite big around 23.46 points or 0.67% to 3,508.01, hitting another fresh new high after 7 days straight passive gains.
– Nasdaq Composite also increased about 70.30 points or 0.60% to 11,695.63, recording new intraday high.
– The Dow Jones Industrial Average appreciates around 161.60 points or 0.57% to 28,653.87, reversing all losses since the pandemic started this year.
– The Stoxx Europe 600 Index decreased 0.5% to 368.80, the lowest in a week.
Bonds
– The yield on the benchmark 10-year Treasury note slid one basis point to 0.73%.
– The yield on the 30-year bond traded a bit lower at 1.49%.
– The yield on two-year Treasuries decreased two basis points to 0.13%.
Commodities
– Gold appreciates a few points around 35.33 dollar change or 1.80% to $1,964.30 an ounce.
– Silver also gained a bit about 1.80% to $27.51 an ounce.
– Copper appreciates about 1.3% to $3.03 a pound.
– West Texas Intermediate crude is down few basis points or 0.26% to $42.93 per barrel.
– Brent crude rose a few points or about 0.46% to $45.81 per barrel.
Currencies
– US Dollar Currency Index is down around 0.75% to 92.30 per dollar.
– The euro jumps up about 0.6% to $1.1898.
– The Japanese yen also increased by 1.1% to 105.36 per dollar.
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