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Redwood Capital Management Limited:Stocks rallied as US 2020 Election is ongoing; Dow leads market
As everyone is currently nervous with the ongoing US Presidential election, major indices rallied and fortunately closed the market higher.
The Dow outperformed in today's session with more than 500 points increased or more than 2% higher, marking its best session since July of this year.
JPMorgan Chase climbed about 3.4% while Goldman Sachs rose about 4.1%, both contributed in Dow's performance today.
S&P 500 and Nasdaq also rose with 1.78% and 1.85% gains, respectively.
Treasuries together with Gold and oil has also rose in today's trading.
Here are the rest of the movements in the Stock Market this Tuesday;
- The Dow Jones Industrial Average outperformed and is up about 554.98 points or is 2.06% higher to 27,480.03.
- Nasdaq Composite set the its largest climbed in three weeks with 202.96 points gains or 1.85% increased to 11,160.57.
- The MSCI All-Country World Index is also up by 1.8% to 567.82.
- The yield on the benchmark 10-year Treasury note gain around 4 basis points to 0.892%.
- The yield on the 30-year Treasury bond has rose about 5 basis points to 1.677%.
- Germany's 10-year yield gained two basis points to -0.62%, its biggest increase yet in more than a week.
- Gold has rose about 18.45 points or is less than 1% higher to $1,914.17 an ounce.
- Silver has increased slightly about less than 1 point or 1.35% to $24.42 an ounce.
- West Texas Intermediate crude has rose less than a point or is 2.31% higher to $37.66 per barrel.
- Brent crude has also rose less than a point or has increased about 1.90% to $39.71 per barrel.
- US Dollar Currency Index declined less than a point or is 0.74% lower to 93.340 per dollar.
- The Japanese yen gained about 0.2% to 104.55 per dollar.
- The euro jumps up about 0.6% to $1.1713, the largest increase yet in more than a month.
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