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US Markets: Broader indices in the United States traded in green - particularly, the S&P 500 index traded 24.75 points or 0.73 per cent higher at 3,421.91, Dow Jones Industrial Average Index accelerated by 256.29 points or 0.92 per cent higher at 28,186.62, and the technology benchmark index Nasdaq Composite traded higher at 11,384.68, up by 72.88 points or 0.64 per cent against the previous day close (at the time of writing, before the US market close at 12:25 PM ET).
US Market News: The US market opened in the green as the major indices advanced. The US House of Representatives approved USD 25 billion for the US Postal Service during the weekend. Meanwhile, the US Congress has gone for summer recess without deciding on any stimulus package for covid-19 relief. Among the gaining stocks, Delta Airlines was up by close to 5.9 percent after the company added more flights on trans-Atlantic and trans-Pacific routes. American Airlines was up by around 5.7 percent after the company received approval to use a surface coating that would kill coronavirus. Facebook was up by around 1.9 percent after the company agreed to pay USD 118 million of taxes in France. Apple’s shares increased by around 1.2 percent as 24 August 2020 is the record date for 4 to 1 stock split. Blackstone’s shares were up by about 0.76 percent after the company announced it would buy a healthcare business based in Japan. Among the decliners, Moderna was down by around 2.4 percent after the company stated that enrolment for vaccine trial for the late-stage covid-19 test had passed 40 percent mark.
US Stocks Performance (at the time of writing)
European News: The London and the European market traded in the green. As per the industry expert’s report, the footfall at UK retail destinations increased by 4.1 percent week on week for the week ended 23 August 2020. However, the footfall was down by about 30.7 percent year on year. Among the gaining stocks, Bunzl was up by close to 2.8 percent after the company reported an increase in H1 FY20 revenue. Pearson’s shares were up by about 1.6 percent after the company appointed Andy Bird as the new CEO, an erstwhile executive of Walt Disney. United Utilities was up by about 1.0 percent after the company reported final terms for issue of USD 35 million fixed-rate Notes due in August 2031. Among the decliners, Studio Retail was down by around 2.8 percent the company reported decline annual profit. J D Wetherspoon shares were down by close to 3.2 percent after the company expects to incur an annual charge due to closure of its pubs.
European Indices Performance (at the time of writing)
FTSE 100 Index Chart
1 Year FTSE 100 Index Performance (24 August 2020), before the market closed (Source: EODHD/Others, Thomson Reuters)
Stocks traded with decent volume*: (LLOY) LLOYDS BANKING GROUP PLC; (BT.A) BT GROUP PLC; (VOD) VODAFONE GROUP PLC.
Sectors traded in the positive zone*: Telecommunications Services (+3.15%), Energy (+3.05%) and Industrials (+1.97%).
London Stock Exchange: Stocks Performance (at the time of writing)
Crude Oil Future Prices*: WTI crude oil (future) price and Brent future crude oil (future) price were hovering at $42.44 per barrel and $45.53 per barrel, respectively.
Gold Price*: Gold price was trading at USD 1,933.10 per ounce, down by 0.71% from previous day closing.
Currency Rates*: GBP to USD and EUR to GBP were hovering at 1.3061 and 0.9028, respectively.
Bond Yields*: U.S 10-Year Treasury yield and UK 10-Year Government Bond yield were trading at 0.649 per cent and 0.209 per cent, respectively.
*At the time of writing
