Synergy Capital AM: Stocks rebound as tech giants recover deleting most of its earlier losses

It looks like tech giants has save the day which pulled up the market a bit higher after the market selloff that had ran yesterday. It even stop the concerns comes over Federal Reserve officials remark about how slow is the economic recovery going.
By: Synergy Capital Asset Management Limited
 
 
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CENTRAL, Hong Kong - Sept. 23, 2020 - PRLog -- It looks like tech giants has save the day which pulled up the market a bit higher after the market selloff that had ran yesterday. It even stop the concerns comes over Federal Reserve officials remark about how slow is the economic recovery going.

According to Federal Reserve's Chairman, Jerome Powell, the US economy has a long way to go before it recovers and is still greater support than the usual.

Nasdaq just outperformed in today's session led by Amazon that rose more than 5% up in its shares. Apple and Facebook also contributed after ending both higher in today's trade.

Here are the main movements in the Global Stock Market this Tuesday;

Stocks

-        S&P 500 increased about 34.51 points or 1.05% higher to 3,315.57.

-        The Dow Jones Industrial Average gained 140.48 points or almost 1% to 27,288.18, taking back some of its loss from yesterday's bout.

-        Nasdaq Composite bounces back up by 184.84 points or 1.71% higher to 10,963.64.

-        The Stoxx Europe 600 Index strengthened by 0.2%.

-        The MSCI Asia Pacific Index slid quite short around 0.8%.

Bonds

-        The yield on the benchmark 10-year Treasury note has no to little change at 0.6642%.

-        The yield on the 30-year Treasury bond decreased a bit to 1.4071%.

-        Germany's 10-year yield strengthened about three basis points to -0.51%.

-        Britain's 10-year yield is up by five basis points to 0.203%.

Commodities

-        Gold fell the second time this week. It decreased about 12.18 points or 0.64% to $1,900.58 an ounce.

-        Silver is also down by less than one point or 1.65% to $24.35 an ounce.

-        West Texas Intermediate crude is up by almost 1% to $39.80 per barrel.

-        Brent crude rose anew with almost 1% higher to $41.72 per barrel.

Currencies

-        US Dollar Currency Index has little change to 93.98 per dollar.

-        The euro declined about 0.5% to $1.1708.

-        The Japanese yen fell short around 0.3% to 104.98 per dollar.

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