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Reliance Trading Co. Limited:Major Indices bounce up as the week session starts with Dow leading
Investors hope for a new deal on the US Stimulus package that is still being tackled in the House made most stocks higher as trading session closed this Monday, led by banks and tech giants.
By: Reliance Trading Co. Limited
Another possible reason of the significant increase is from the reports of incoming corporate deals and merges.
Bank has led S&P 500 gain back some of its losses from the pass week's declines, while both Nasdaq and Dow sowed increase from tech giants.
Bank stocks such as JPMorgan Chase, Bank of America, Citigroup, Goldman Sachs and Morgan Stanley all rose about 2%.
Apple rose about 2.4% while Alphabet ended up 1.4% higher. Facebook closed 0.8% higher. Amazon and Microsoft are also up by 0.8% and 2.6%, respectively.
Here are the main movements in the Global Stock Market this Monday;
- The Dow Jones Industrial Average rose around 410.36 points or 1.51% to 27,584.32.
- Nasdaq Composite ended up 1.87% higher or has increased about 203.96 points to 11,117.53.
- The Stoxx Europe 600 Index is up by 2.2%.
- The MSCI Asia Pacific Index appreciates around 1.3%
- The MSCI Emerging Market Index increased about 1.1%.
- The yield on the benchmark 10-year Treasury note has no to little change at 0.658%.
- The yield on the 30-year Treasury bond has no visible movement at 1.407%.
- Germany's 10-year yield is up by less than one basis point to -0.53%.
- Britain's 10-year yield increased about one basis point to 0.20%.
- Gold has advanced about 18.31 points or almost 1% to $1,879.46 an ounce.
- Silver also increased less than a point or about 3.12% to $23.64 an ounce.
- West Texas Intermediate crude is up by less than 1% to $40.60 per barrel.
- Brent crude has a slight increase of 1.22% to $42.43 per barrel.
- US Dollar Currency Index has a slight upward movement at 94.40 per dollar.
- The euro strengthened a bit at 0.3% higher to $1.1667.
- The British pound rose about 0.7% to $1.2834.
- The Japanese yen advanced 0.1% higher to 105.49 per dollar.
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