US Markets: Broader indices in the United States traded in green - particularly, the S&P 500 index traded 15.52 points or 0.48 per cent higher at 3,262.11, Dow Jones Industrial Average Index expanded by 58.30 points or 0.22 per cent higher at 26,873.74, and the technology benchmark index Nasdaq Composite traded higher at 10,786.31, up by 114.04 points or 1.07 per cent against the previous day close (at the time of writing, before the US market close at 12:10 PM ET).
US Market News: The key indices of the US market traded in the red as the Democrats plan for a new stimulus package of USD 2.4 trillion. The US core capital goods orders increased by 1.8 percent month on month in August 2020 above the expected increase of 0.5 percent. Among the gaining stocks, Novavax shares surged by close to 10.2 percent after the company started late-stage testing of covid-19 vaccine in the UK. Nasdaq was led by Trip.com which gained almost 7.1 percent. Boeing moved up by around 2.7 percent after Europe’s aviation safety regulator said that 737 MAX might resume flying in November. Apple shares rose by around 1.1 percent after the reports that European Commission would appeal in court against Apple for the tax matter. Among the downward trending stocks, Costco declined by around 3.1 percent, although it reported earnings per share of 3.04 USD cents that were above the street’s expectation. Amazon slipped by nearly 0.3 percent after the company got into cloud-based gaming.
US Stocks Performance*
European News: The London and European traded in the red as the Brexit outcome continues to loom. The public sector net borrowing in the UK was £35.20 billion in August 2020 against expected net borrowing of £35.05 billion. Meanwhile, the British car production slumped by 45 percent year on year in August 2020. Among the gaining stocks, William Hill rose 37.2 percent after the reports that the company is a potential acquisition target of Apollo Global Management. Boohoo surged by around 9.8 percent after it completed the independent review of its UK supply chain. Pennon was up by around 0.6 percent after the company stated that it would deliver half-year result that is in line with the management’s expectation. Shaftesbury nudged up by around 0.2 percent after the company reported rent collection of 41 percent for H1 FY20. Among the decliners, shares of Easyjet were down by nearly 2.3 percent after Italy’s antitrust regulator is opening the enquiry against it. Wizz Air Holdings declined by nearly 1.8 percent after it stated that it would operate 50 percent of its capacity in October compared to the same period last year. Tesco was down by close to 0.8 percent after the company confined the bulk purchase of a few products. AstraZeneca was down by about 0.5 percent after the reports that the company received a waiver from the European Union for liability related to covid-19 vaccine candidates.
European Index Performance*:
FTSE 100 Index One Year Performance (as on 25 September 2020)
1 Year FTSE 100 Chart (Source: Refinitiv, Thomson Reuters)
Top 3 Volume Stocks in FTSE 100*: Lloyds Banking Group Plc (LLOY); International Consolidated Airlines Group SA (IAG); BP Plc (BP.).
Top 3 Sectors traded in green*: Utilities (+1.54%), Consumer Cyclicals (+1.14%) and Industrials (+0.45%).
Top 3 Sectors traded in red*: Basic Materials (-0.90%), Energy (-0.59%) and Financials (-0.54%).
London Stock Exchange: Stocks Performance (at the time of writing)
Crude Oil Future Prices*: Brent future crude oil (future) price and WTI crude oil (future) price were hovering at $41.86/barrel and $40.19/barrel, respectively.
Gold Price*: Gold price was quoting at US$1,868.35 per ounce, down by 0.46% against the prior day closing.
Currency Rates*: GBP to USD: 1.2724; EUR to GBP: 0.9140.
Bond Yields*: US 10-Year Treasury yield: 0.664%; UK 10-Year Government Bond yield: 0.193%.
*At the time of writing