Redwood Capital Management Limited: S&P 500 and the Dow slid three straight days, Nasdaq jumps
Stocks rallied mixed after widespread selling due to concern in the renewed growing number of coronavirus cases in the US and some other countries.
It is not just the stocks that fell on today’s session even crude dropped more than 5% due to a possibility that demands will decline due to Covid19 upsurge.
Treasuries are also down for the same reason and also because of the dimming results of the proposed coronavirus aid. An agreement may not be possible before the upcoming US election this November 3.
Meanwhile, here are the rest of the movements in Stock Market this Tuesday;
Stocks
– S&P 500 is down about 10.29 points or is 0.30% lower to 3,390.68.
– The Dow Jones Industrial Average fell around 222.19 points or less than 1% lower to 27,463.19.
– Nasdaq Composite has increased about 72.41 points or is 0.64% higher to 11,431.35.
– The Stoxx Europe 600 Index is down by 1%.
– The MSCI Asia Pacific Index has jumps up about 0.2%.
Bonds
– The yield on the benchmark 10-year Treasury note has dropped 2.3 basis points to 0.791%.
– The yield on the 30-year Treasury bond has decreased to 1.575%.
– Germany’s 10-year yield has slipped four basis points to -0.62%.
– Britain’s 10-year yield dropped about four basis points to 0.23%.
Commodities
– Gold has increased about 4.92 points or is 0.26% higher to $1,906.96 an ounce.
– Silver is up less than 1 point or 0.14% to $24.33 an ounce.
– West Texas Intermediate crude fell about 2.18 points or is 5.51% down to $37.39 per barrel.
– Brent crude is down few points to $40.61 per barrel.
Currencies
– US Dollar Currency Index has strengthened about 0.02% to 93.094 per dollar.
– The Japanese yen has increased about 0.3% to 104.49 per dollar.
– The British pound is up by 0.2% to $1.3055.
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