Brooke Capital Limited:Stocks sunk after data shows Covid19 cases spike in US, stimulus deal stalled

Major Indices rallied and ended up lower after reports of coronavirus cases in the US continues to grow and sentiments about the stalled stimulus deal linger.

According to House Speaker Nancy Pelosi’s spokesperson Drew Hammill via Twitter that the latter ‘remains optimistic that an agreement can be reached before the election.’

Even with Amazon, Netflix and Zoom in positive spot, market closed down lower. The Dow is the worst performer in today’s session after losing more than 600 points, its largest loss since early September.

Meanwhile, here are the main movements in Stock Market this Monday;

Stocks

– S&P 500 slid about 64.45 points or is 1.86% lower to 3,400.94, as market closed 4 p.m. in New York time.
– The Dow Jones Industrial Average dropped quite big with 649.86 points loss or 2.29% decreased to 27,685.71.
– Nasdaq Composite is also down with 189.34 points loss or 1.64% to 11,358.94.
– The Stoxx Europe 600 Index has slid about 1.8%.
– The MSCI Asia Pacific Index decreased about 0.4%.

Bonds

– The yield on the benchmark 10-year Treasury note decreased around 4 basis points to 0.795%.
– The yield on the 30-year Treasury bond has dropped about 5 basis points to 1.593%.
– Germany’s 10-year yield has no to little change at -0.58%.
– Britain’s 10-year yield has no visible movement at 0.27%.

Commodities

– Gold just dropped less than 1 point or is 0.04% lower to $1,902.04 an ounce.
– Silver is also down about 1.30% lower to $24.29 an ounce.
– West Texas Intermediate crude slumped about 1.29 points or is lower by 3.24% to $38.56 per barrel.
– Brent crude loss about 1.31 points or 3.14% down to $40.46 per barrel.

Currencies

– US Dollar Currency Index is up with 0.326 point or higher by 0.35% to 93.072 per dollar.
– The euro is down by 0.5% to $1.1807.
– The British pound depreciate about 0.2% to $1.3019.
– The Japanese yen is down by 0.1% to 104.85 per dollar.

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