7.02 - global markets are mixed
As the end of the week neared to us, we have a lot to reflect on. For example, the effect that coronavirus has on us and on our trading. Death toll is still climbing and it seems that the disease has no plans to retire. But do we care as much as in the beginning of the week? doesn’t seems so to me. Seems that traders, even despite China still being hit pretty hard, want to go back to normal trading no matter what, as a result we can see growing Chinese market.
American market is also growing. Stock market for that matter. Yesterday we were seeing a slump with Tesla losing as much as 17 percent of the cut due to its closing production line in China. Seems that the rally in American stocks really happened as can be evidenced by the additions to the most famous names in the sector.
But, will we see the same growth today? It is possible. After all, American economy, no matter what, seems to be doing pretty good. Unemployment and employment reports are showing us that despite all the fears and the political crisis plaguing the USA, we can still count on the strongest economy in the world. With this, USD surged, taking all of the major American names higher, so, if USD does just as well today, then there is a chance that shared are going to keep on surging as well.
Gold and precious metals are keeping on with their fall – a direction assumed by the segment several days ago. Seems that the situation in the world is so dire, that their safety is just not cutting it anymore. We need something stronger than gold, hence the growth of USD.
Here are the numbers for the day:
Topix dropped 0.3 percent.
Kospi decreased 1.1 percent.
Shanghai Composite decreased 0.3 percent.
Hang Seng from Hong Kong lost 0.75 percent
S&P 500 dropped 0.1 percent.
Euro decreased 0.2 percent - $1.098.
Pound dropped 0.3 percent - $1.2942.
Yen nudged a little higher – 109.89 per dollar.
Canadian dollar lost 0.1 percent - $1.3292.
Tesla recovered 1.9 percent - $748.96.
Apple added 1.2 percent - $325.21.
Facebook grew 0.35 percent – $210.85.
Amazon advanced 0.5 percent – $205023 per share.
Google increased 2.1 percent - $1475.97.
WTI grew 0.1 percent - $51.12 per barrel.
Brent advanced 0.1 percent - $55.17 per barrel.
Gold slid 0.1 percent - $1564.9 per ounce.
Silver dropped 0.3 percent - $17.76 per ounce.
Platinum nudged 1 percent lower– $961.84.
Palladium declined 1 percent - $2313.5 per ounce.