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Brooke Capital Limited: Stocks dropped as Stimulus bill may not pass before US 2020 Election
Major Indices rallied but ended up lower after reports that the white house and the lower house may get to end an agreement to pass the new coronavirus aid bill but not before the upcoming US Election this 3rd day of November.
Netflix stumble for the second time this week losing another 6% in today's session. Nine sectors out of the eleven in the stock market is down which was led by the energy sector.
Treasuries surge hitting 4-month high breaking out of the average movement. Gold and Silver both rose while crude dropped.
Meanwhile, here are the main movements in the Stock Market this Wednesday;
- The Dow Jones Industrial Average dipped about 98.10 points or 0.35% down to 28,210.69.
- Nasdaq Composite decreased around 31.80 points or 0.28% to 11,484.69.
- The MSCI Asia Pacific Index rose 0.8%.
- The Stoxx Europe 600 Index decreased 1.3%.
- The yield on the benchmark 10-year Treasury note rose about 0.8% hitting a four-month high of 0.836%.
- The yield on the 30-year Treasury bond rose to 1.653%, its highest level since the second week of June.
- The yield on two-year Treasuries is up by one basis point to 0.15%.
- Germany's 10-year yield increased about one basis point to -0.59%.
- Britain's 10-year yield gained around five basis points to 0.242%.
- Gold has strengthened and is up by 16.74 points or is less than 1% higher to $1,925.61 an ounce.
- Silver has also increased about less than a point or around 1.48% to $25.07 an ounce.
- West Texas Intermediate crude slid about 1.67 points or 4% to $40.03 per barrel.
- Brent crude is also down with 1.43 points lower or 3.31% to $41.73 per barrel.
- US Dollar Currency Index has dropped about less than point or is 0.50% lower to 92.618 per dollar.
- The Japanese yen rose about 0.9% to 104.53 per dollar.
- The euro has gained around 0.3% to $1.186.
- The British pound climbed with 1.6% increased to $1.3149.
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