Elite Capital International: Stock Market on the rise, Oil ready for a comeback
The world is not yet free from the fear of the Coronavirus pandemic, but as the economy is reopening, recovery is following
Big jump notably is from S&P 500 which closed its year-to-date loss by 3.3%. Dow Jones and Nasdaq are also up with a great deal just before the market closed this Wednesday afternoon.
Below are current stocks movements.
- The Dow Jones Industrial Average rose by 2.05% on its third day positive output.
- The S&P 500 advances by 1.36%, a fourth day wallop this week – it's highest for the last three months.
- The Nasdaq Composite is up by 0.78%, its fourth day win strike.
- The Stoxx Europe 600 Index gained 2.5%.
Out of 11 there are 10 sectors that were positive which was led by industrials. Boeing rose up by 12.95%, its best noted gained since April of this year.
Under commodities, oils recovered almost half of its lost price from February of this year. Making investors grin with positivity after suffering for almost four months due to the economic downfall caused by Covid-19. Gold on the other hand quite down on this day's market.
- West Texas Intermediate crude is up buy 1.30% to $37.29 per barrel.
- Brent crude strengthened by 0.56% to $39.79 per barrel.
- Gold weakened 1.7% to $1,698.53 an ounce.
Yields on bonds as well made a productive development globally. Below are the changes as noted.
• The yield on 10-year Treasuries gained seven basis points to 0.76%.
• Germany's 10-year yield raised six basis points to -0.36%.
• Britain's 10-year yield is up by five basis points to 0.27%.
• Australia's 10-year yield advanced six basis points to 0.96%.
The rising trend from different investments is caused by the flattening virus curve and Federal Reserve stimulus prepared by the government. The optimism might continue as the economy worldwide slowly reopens and more business and employment will resume, which only means that the worst is now behind us and the only tail remaining is the shadow.
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