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US Markets: Broader indices in the United States traded in red - particularly, the S&P 500 index traded 7.27 points or 0.22 per cent lower at 3,341.89, Dow Jones Industrial Average Index contracted by 109.59 points or 0.40 per cent lower at 27,277.39, and the technology benchmark index Nasdaq Composite traded lower at 11,047.33, down by 60.74 points or 0.55 per cent against the previous day close (at the time of writing, before the US market close at 12:05 PM ET).
US Market News: - The Wall Street opened in red on Friday. The US Bureau of Labor Statistics reported that the Nonfarm payrolls jobs were up by 1.763 million in July 2020. Among the gaining stocks, Groupon shares surged by close to 45.4 percent after the company reported earnings better than the market's expectation. T-Mobile shares were up by about 8.7 percent after the company reported an increase in the monthly phone subscribers. Dish Network shares were up by about 4.7 percent after the company said it witnessed a lower churn rate in the second quarter. Among the decliners, Dropbox shares were down by about 7.9 percent, although the company reported good numbers in the second quarter result. Uber's shares were down by close to 5.6 percent after the company reported a decline in gross bookings for the ride business in the second quarter.
US Stocks Performance (at the time of writing)
European News: London and European market opened in green. As per the industry expert's report, the UK house prices increased by 1.6 percent month on month in July 2020. Meanwhile, the UK's finance minister, Rishi Sunak, stated that extending the furlough scheme would put the employees under the delusion that they can return to work after the pandemic. Among the gaining stocks, Hikma surged by close to 11.7 percent after the company declared higher profit for the first-half results. Rightmove's shares were up by close to 9.0 percent although the company's average revenue per advertiser declined by 34 percent year on year in H1 FY2020. Hargreaves Lansdown was up by about 2.1 percent after the company announced an increase in the full-year earnings. Among the decliners, TP ICAP plunged by close to 9.4 percent after the company reported a slowdown in trading activity in July 2020. BP was down by close to 2.3 percent after the company said that it would sell a portion of its oil and gas assets and invest in renewable energy.
European Indices Performance (at the time of writing)
FTSE 100 Index Chart
1 Year FTSE 100 Index Performance (7 August 2020), before the market closed (Source: Refinitiv, Thomson Reuters)
Stocks traded with decent volume*: (VOD) VODAFONE PLC; (LLOY) LLOYDS BANKING GROUP PLC; (BARC) BARCLAYS PLC.
Sectors traded in the positive zone*: Technology (+2.57%); Telecommunications Services (+1.35%), and Healthcare (+1.12%).
Sectors traded in the negative zone*: Energy (-1.88%); Basic Materials (-0.55%), and Consumer Non-Cyclicals (-0.41%).
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 $41.36 per barrel and $44.52 per barrel, respectively.
Gold Price*: Gold price was trading at USD 2,032.75 per ounce, down by 1.25% from previous day closing.
Currency Rates*: GBP to USD and EUR to GBP were hovering at 1.3053 and 0.9027, respectively.
Bond Yields*: U.S 10-Year Treasury yield and UK 10-Year Government Bond yield were trading at 0.526 per cent and 0.113 per cent, respectively.
*At the time of writing
