Synergy Capital Asset Management: Oil goes higher on two consecutive days, Stock market gains

After U.S. President Trump instructed the Navy to destroy every Iranian gun boat that will harass American ships in the sea, oil price jump up gaining almost half of the price it loss in the last Tuesday.

– West Texas Intermediate (WTI) the U.S. base crude company increased by 11.39% to $15.35 per barrel.
– Brent crude as of this writing has gained 7.41% to $21.88 per barrel.

Even though that states in the U.S. is about to post a new record of unemployment claims, stock market is still pursuing to move upward.

– The Dow Jones Industrial Average futures are up by 31 points to 0.13%.
– The S&P 500 futures gained a bit by 0.24%
– Nasdaq Composite futures moved 0.14% higher.

Global markets are also fluctuating. From European country to Asian markets, most notable stocks closed its rally higher today.

European markets: The CAC 40 is higher by 0.42%, while Germany’s DAX is off 0.09%. Shares in London FTSE 100 are unchanged.

Asian markets: The Nikkei 225 gained 1.52% and the Hang Seng rose 0.35%. The Shanghai Composite lost 0.19%.
Gold gained another increase today closing its price by 0.7% higher to $1,726.45 per ounce.

Currencies worldwide made a few gains today. Japanese yen strengthened 0.1% to 107.62 per dollar, the onshore yuan strengthened 0.1% to 7.079 per dollar, British pound increased 0.1% to $1.2343 but Euro fell 0.4% to $1.078. The U.S. Dollar Index (DXY) rose by 0.13% to $100.35.

Yields on Bonds/Treasuries however decreased. The yield on 10-year Treasuries declined one basis point to 0.61%, while the yield on two-year Treasuries decreased less than one basis point to 0.21%. Even yields on the global market have dropped too.

– Germany’s 10-year yield fell two basis points to -0.43%.
– Britain’s 10-year yield sank three basis points to 0.302%.
– Japan’s 10-year yield increased one basis point to 0.008%.

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