Investam-HK: Stock Market closes Monday trading day soaring high
It seems like Stock Market is gaining its cool after suffering multiple crash for the last three weeks because of the coronavirus pandemic.
By: Investam HK Limited
One of the most notable stocks is The Dow Jones Industrial which closes its session up by 7.7% to 22,679.99. The S&P 500 Index increased 7% to 2,663.68 while Nasdaq Composite Index increased 7.3% to 7,913.24. MSCI All-Country World Index increased 5.5% to 448.84.
For Bonds, the yield on 10-year Treasuries has climbed eight basis points up to 0.67% while the yield on the two-year treasuries has gained up to four basis points to 0.26%. As for commodities, Gold rose by 2.8% to 1,665.97 per ounce highest for the last four weeks of positive outcome.
However, for oil price it's not that productive because it loss few percentage from last Fridays' price. West Texas Intermediate (WTI) crude loss by -7.97% to $26.08 per barrel, while international benchmark Brent Crude is down by -3.11% to $33.05 per barrel.
Most of the currencies are down by Monday, Japanese yen depreciated 0.5% to 109.12 per dollar which is the weakest in more than a week. British pound fell 0.2% to $1.2241 after their Prime Minister Boris Johnson was sent to a hospital's intensive care unit for treatment of coronavirus after experiencing worsened condition.
There are 1.33 million people around the world that have tested positive for COVID-19, and more than 25% of them are American. Investors and analysts are looking for the top of the COVID curve to better model and quantify the GDP impact.
Coronavirus cases around the globe have been slowing for the last 2 days, and markets globally are hoping it will continue as is it. The equity markets are yearning to recover back to an all new highs, what it needs to have to attain it is the world to go back to normal.
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