Reliance Trading Co. Limited: Stocks rebound as Tech shares recovered some of its sell-off losses
After three day bout, stock market finally recovered as big tech shares bounce back with the help of investors who bagged some shares while on dip.
The Dow big contributor is Apple which shares closed 4% higher. Amazon also gained 4% while Tesla is up by 7%. Microsoft, Alphabet and Facebook shares as well ended up higher.
The China-US tension is still lingering around the corner, but it did not stop dip buyers to get the reward they’ve been asking for with today’s gain.
Here are the main movements in the Stock Market this Wednesday;
Stocks
– S&P 500 gained 67.19 points higher or 2.02% to 3,399.03, just as market closed at 4 p.m. of New York’s time.
– The Dow Jones Industrial Average increased 439.71 points or 27,940.60.
– Nasdaq Composite also appreciates with 293.87 points higher or 2.71% to 11,141.56. Recovering most of its loss since last week.
– The Stoxx Europe 600 Index is up by1.6%.
– The MSCI Asia Pacific Index is down about 0.8%.
Bonds
– The yield on the benchmark 10-year Treasury note has no to little change at 0.683%.
– The yield on the 30-year Treasury bond has no visible changes at 1.427%.
– Germany’s 10-year yield climbed about three basis points to -0.46%.
– Britain’s 10-year yield is up with five basis points to 0.237%.
Commodities
– Gold is up with 16.02 points higher or almost 1% to $1,946.57 an ounce.
– Silver has increased around 1.64% to $26.98 an ounce.
– West Texas Intermediate crude climbed about 3.51% to $38.05 per barrel.
– Brent crude also appreciates almost 4% to $40.54 per barrel.
Currencies
– US Dollar Currency Index has no to little change at 93.29 per dollar.
– The euro was is up by 0.3% to $1.1809.
– The Japanese yen depreciates around 0.1% to 106.18 per dollar.
– The British pound gained about 0.2% to $1.3008.
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