Elite Capital International: Stocks, Oil prices and Gold all advances as Market wraps up late Friday
U.S. Stock market has finally gained its pace after the re-opening of the economy and adaptation of the new normal way of living.
The issue went fervid after Trump announced that they may withdraw their relationship with WHO or the World Health Organization saying that the organization is being controlled by the Chinese government.
Trump said, "Chinese officials ignored their reporting obligations to the World Health Organization and pressured the World Health Organization to mislead the world when the virus was first discovered by Chinese authorities. Countless lives have been taken, and profound economic hardship has been inflicted all around the globe," and added later, "Because they have failed to make the requested and greatly needed reforms, we will be today terminating our relationship with the World Health Organization and redirecting those funds to other worldwide and deserving urgent global public health needs."
While the president is reeled up with China's lack of move on the pandemic crisis, the economy is making its own move upward which shows that stocks have gained 4.5% as May 2020 closes erasing the struggle from last month's shutdown.
- The S&P 500 Index gained 0.5% to 3,044.31 as of 4:03 p.m. New York time, the highest in more than 12 weeks.
- The Dow Jones Industrial Average dipped 0.1% to 25,383.11.
- The Nasdaq Composite Index gained 1.3% to 9,489.87, the highest in 14 weeks on the largest climb in more than a week.
- The MSCI All-Country World Index climbed 0.1% to 509.53, reaching the highest in 12 weeks on its fifth straight advance.
Bonds / Equities
- The yield on two-year Treasuries sank one basis point to 0.16%, the lowest in two weeks on the biggest tumble in more than a week.
- The yield on 10-year Treasuries decreased four basis points to 0.65%, the lowest in two weeks on the largest tumble in more than a week.
- West Texas Intermediate crude increased 4.4% to $35.21 a barrel.
- Brent Crude rose up by 5.02% to $37.84 per barrel.
- Gold strengthened 0.8% to $1,731.78 an ounce, the largest climb in more than two weeks.
For more updates in finances and stock market visit us at Elite Capital International Limited - https://elitecapitalinternational.com/
Elite Capital International Limited