Elite Capital International: US President tweet anew supports new Fiscal Stimulus, Stocks jumps up
Major Indices rebound as talk about additional fiscal stimulus package could still reach an agreement after US President Trump renewed support in the proposal.
President Trump tweeted, “The House & Senate should IMMEDIATELY Approve 25 Billion Dollars for Airline Payroll Support, & 135 Billion Dollars for Paycheck Protection Program for Small Business.”
Aside from it the US President is also pushing a standalone bill for another set of $1,200 stimulus checks for American taxpayers.
Treasuries and dollar both fell. Oil also slid after report shows from the US Government data that stockpiled crudes are
increasing.
Meanwhile, here are the main movements in Stock Market this Wednesday;
Stocks
– S&P 500 rose more than what it has loss from yesterday’s bout around 58.50 points or 1.74% to 3,419.45.
– The Dow Jones Industrial Average also increased quite big with 530.70 points gain or less than 2% higher to 28,303.46.
– Nasdaq Composite is up by 210.00 points or is 1.88% higher to 11,364.60.
– The Stoxx Europe 600 Index slid a few points at 0.1% lower to 365.45.
– The Nasdaq 100 Index strengthened less than 2% to 11,503.20.
Bonds
– The benchmark on the 10-year Treasuries has increased about five basis points to 0.79%, the highest yet in almost 16 weeks.
– The yield on 30-year Treasuries rose around five basis points to 1.59%, the biggest increased in four months.
– Germany’s 10-year yield jump one basis point to -0.49%.
– Britain’s 10-year yield is up by two basis points to 0.303.
Commodities
– Gold gained a few points around 11.71 or is less 1% higher to $1,887.43 an ounce.
– Silver also rose less than once basis points or 2.64% to $23.81 an ounce.
– West Texas Intermediate crude fell less than 1 point or 1.77% lower to $39.95 per barrel.
– Brent crude also slid less than 1 point or 1.55% to $41.99 per barrel.
Currencies
– US Dollar Currency Index fell a bit with 0.01% declined to 93.61 per dollar.
– The Japanese yen depreciated 0.3% to 105.99 per dollar, its lowest record yet in a month.
– The euro has increased about 0.2% to $1.1763.
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