Reliance Trading Co. Limited: Treasuries yield is falling 2 days in a row; Stocks closed down market

WAN CHAI, Hong Kong - June 22, 2020 - PRLog -- As investors focus on the growing numbers of coronavirus confirmed cases day by day in most overt states in America, stock market is rallying and fortunately finishes higher. US Centers for Disease Control and Prevention posted a forecast a projected 135,461 coronavirus deaths in U.S. by July of this year which is weakening the hope of many to recover the economy.

Jobless claims even made a heavy contribution of pessimism on how the market had move today. A total number of initial claims to more than 45 million since mid-March after another 1.5 million Americans filed for first-time unemployment benefits last week.

Stocks

-        The Dow Jones Industrial Average fell 0.2% to 26,080.10.

-        The MSCI All-Country World Index declined 0.1% to 527.51, the first retreat in a week.

-        The Nasdaq Composite Index climbed 0.3% to 9,943.05, hitting the highest in more than a week with its 5th day advance in a row.

-        The S&P 500 Index increased 0.1% to 3,115.34 as of 4:07 p.m. in New York time.

Bonds

-        The yield on 10-year Treasuries fell four basis points to 0.70%, the lowest in a week on the biggest fall in a week.

-        The yield on two-year Treasuries dipped less than one basis point to 0.19%.

-        The yield on the 30-year bond fell to 1.5017%.

Commodities

-        West Texas Intermediate crude gained 2.32% to $38.85 a barrel.

-        Brent crude rose up by 1.97% to $41.51 a barrel.

-        Gold fell quite a bit by -0.29% to $1,722.63 an ounce.

Some states in the U.S. might reopen retail stores before June ends. New York considers possible school opening by fall. Most restaurants and business will open by next week. It only means that even though the U.S. is crying out load because of the growing numbers of covid19 cases, they will definitely reopen economy and the government will be their support on this.

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