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US Markets: Broader indices in the United States traded on a mixed note - particularly, the S&P 500 index traded 2.02 points or 0.06 per cent lower at 3,429.26, Dow Jones Industrial Average Index contracted by 171.66 points or 0.61 per cent lower at 28,136.80, and the technology benchmark index Nasdaq Composite traded higher at 11,394.30, up by 14.58 points or 0.13 per cent against the previous day close (at the time of writing, before the US market close at 11:55 AM ET).
US Market News: The Wall Street had a choppy session as the US Consumer Confidence index fell to 84.8 in August 2020 from 91.7 in July 2020. Meanwhile, the US new home sales increased by 13.9 percent month on month in July 2020 to 901,000 homes. Among the gaining stocks, Amgen, Honeywell and Salesforce.com were up by around 4.3 percent, 3.4 percent and 3.0 percent, respectively as these stocks would be added to Dow Jones Industrial Average on 31 August 2020. Zoom Video was up by close to 2.1 percent as the company restored service after an outage on Monday. Among the decliners, Best Buy was down by around 6.1 percent, although the company reported increased sales for comparable stores. Exxon Mobil, Raytheon and Pfizer were down by about 2.1 percent, 2.1 percent and 1.6 percent, respectively after these stocks would be removed from the Dow Jones Industrial Average. Hormel’s shares were down by about 0.84 percent, although the company reported better than expected earnings.
US Stocks Performance (at the time of writing)
European News: The London market traded in red, whereas the European market advanced. As per the industry expert’s data, the employment balance in the UK declined to -45 in August 2020 from -20 in May 2020. The employment balance measures job changes over the last 12-months. Meanwhile, the monthly retail sales balance in the UK fell to -6 in August 2020 from 4 in July 2020. Among the gaining stocks, Aveva was up by close to 6.8 percent after the company announced it would acquire OSIsoft for USD 5 billion. DFS Furniture’s shares were up by about 6.8 percent after the company announced recent business performance above initial expectation. AstraZeneca was up by about 0.8 percent after the company stated trials for the treatment of covid-19. Among the decliners, James Fisher & Son was down by around 7.0 percent after the company announced the interim dividend cut. SSP Group shares were down by close to 2.6 percent after the company announced changes to executive remuneration.
European Indices Performance (at the time of writing)
FTSE 100 Index Chart
1 Year FTSE 100 Index Performance (25 August 2020), before the market closed (Source: EODHD/Others, Thomson Reuters)
Stocks traded with decent volume*: (LLOY) LLOYDS BANKING GROUP PLC; (VOD) VODAFONE GROUP PLC; (BT.A) BT GROUP PLC.
Sectors traded in the positive zone*: Technology (+0.91%), Healthcare (+0.68%) and Consumer Cyclicals (+0.53%).
Sectors traded in the negative zone*: Basic Material (-1.12%), Energy (-0.84%) and Utilities (-0.50%).
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 $43.36 per barrel and $46.37 per barrel, respectively.
Gold Price*: Gold price was trading at USD 1,933.60 per ounce, down by 0.29% from previous day closing.
Currency Rates*: GBP to USD and EUR to GBP were hovering at 1.3146 and 0.9002, respectively.
Bond Yields*: U.S 10-Year Treasury yield and UK 10-Year Government Bond yield were trading at 0.684 per cent and 0.253 per cent, respectively.
*At the time of writing
