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US Markets: Broader indices in the United States traded on a mixed note - particularly, the S&P 500 index traded 12.78 points or 0.40 per cent lower at 3,194.40, Dow Jones Industrial Average Index plunged by around 187.73 points or 0.69 per cent lower at 27,084.57, and the technology benchmark index Nasdaq Composite accelerated at 9,998.27, up by 44.51 points or 0.45 per cent against its previous day close (at the time of writing, before the U.S market close at 11:45 AM ET).
US News: Wall Street edged higher as investor focus shifted towards Federal Reserve’s first economic projections post COVID-19 crisis. Meanwhile, the consumer price index in May fell by 0.1 per cent due to a slump in demand for household goods. Among the gaining stocks, AMC Entertainment gained over 15.5 per cent after revealing plans to reopen its theatres. Abbvie gained around 1.8 per cent after partnering with Genmab for early-stage cancer treatment. Among the decliners, the oil and gas producers Occidental Petroleum Corp and ConocoPhillips shed over 8.7 per cent and 4.7 per cent, respectively, with oil price plunge amid the oversupply concerns. Similarly, Carriers American Airlines and United Airlines Holdings fell over 3.3 per cent, and 5.6 per cent, respectively.
S&P 500 (SPX)
Top Performers*: NVIDIA Corp (NVDA), Advanced Micro Devices Inc (AMD), and Resmed Inc (RMD) stocks jumped by 4.03 per cent, 3.92 per cent and 3.81 per cent, respectively.
Non Performers*: Norwegian Cruise Line Holdings (NCLH), Carnival Corp (CCL) and American Airlines Group Inc (AAL) shares decreased by 15.87 per cent, 11.76 per cent and 11.54 per cent, respectively.
NASDAQ Composite (IXIC)
Top Performers*: Jiayin Group Inc (JFIN), American Virtual Cloud Technologies (AVCT) and Wins Finance Holdings Inc (WINS) shares expanded by 475.99 per cent, 157.34 per cent and 134.83 per cent, respectively.
Worst Performers*: Immuron Ltd (IMRN), Fangdd Network Group Ltd (DUO) and RigNet Inc (RNET) shares plunged by 39.25 per cent, 38.04 per cent and 34.10 per cent, respectively.
Elite Performing Sectors*: Technology (+1.06 per cent), Healthcare (+0.40 per cent) and Consumer Cyclicals (+0.35 per cent).
Top Worst Sectors*: Energy (-3.95 per cent), Financials (-2.22 per cent) and Industrials (-1.93 per cent).
Dow Jones Industrial Average (DJI)
Top Performers*: Microsoft Corp (MSFT), Apple Inc (AAPL) and Intel Corp (INTC) shares zoomed up by around 2.10 per cent, 1.82 per cent and 1.43 per cent, respectively.
Worst Performers*: Boeing Co (BA), Exxon Mobil Corp (XOM) and Chevron Corp (CVX) shares plunged by 7.49 per cent, 4.51 per cent and 3.26 per cent, respectively.
European Markets: The London’s broader equity benchmark index - FTSE 100 closed at 6.59 points or 0.10 per cent lower at 6,329.13, the FTSE 250 index last traded at 149.79 points or 0.84 per cent lower at 17,605.46, and the FTSE All-Share Index ended 8.02 points or 0.23 per cent lower at 3,499.69, respectively. European index STOXX 600 ended lower by 1.39 points or 0.38 per cent, at 368.15. Among other European indices - DAX index closed the trading session at 12,530.16, down by 87.83 points or 0.70 per cent; CAC 40 index contracted by 41.69 points or 0.82 per cent and ended the trading session at 5,053.42.
European News: London and European markets bounced after falling for two days as investors kept a keen look over Fed’s economic outlook. Meanwhile, the Bank of England planning to give another GBP 100 billion in bond-buying next week to save the British economy from further damage. Also, the house sales in England revived last month as the government allowed to estate agents to reopen, as per the property website Zoopla. Among the gaining stocks, Quiz’s gained over 18.5 per cent after unveiling plans to put its stores under administration for better rent negotiation. Standard Life Aberdeen rose over 0.15 per cent after a transaction in its own shares. Among the decliners, Rolls Royce fell around 6.8 per cent after being slashed from Goldman Sachs’ conviction list. Following the slight drop in oil prices, BP PLC, Royal Dutch Shell and Tullow Oil fell over 3.3 per cent, 2.1 per cent, and 3.5 per cent, respectively, due to nosedived demand.
London Stock Exchange
Top Three Performers*: METRO BANK PLC (MTRO), AMIGO HOLDINGS PLC (AMGO) and ROCARDO PLC (RCDO) accelerated significantly by 19.22 per cent, 11.03 per cent and 10.85 per cent, respectively.
Worst Performers*: CARNIVAL PLC (CCL), JUST EAT TAKEAWAY.COM N.V. (JET) and PENDRAGON PLC (PDG) plunged by 13.85 per cent, 11.53 per cent and 9.36 per cent, respectively.
FTSE 100 Index Performance
3 months FTSE 100 Index Performance (June-10-2020), before the market closed (Source: EODHD/Others, Thomson Reuters)
Best Gainers*: LONDON STOCK EXCHANGE GROUP (LON:LSE), BRITISH AMERICAN TOBACCO PLC (LON:BATS) & HARGREAVES LANSDOWN PLC (LON: HL.) leapt up by 3.24 per cent, 2.73 per cent and 2.65 per cent, respectively.
Non Performers*: CARNIVAL PLC (CCL), JUST EAT TAKEAWAY.COM N.V. (JET) and MELROSE INDUSTRIES PLC (LON:MRO) traded in red zone and decreased by 13.75 per cent, 12.24 per cent and 8.20 per cent, respectively.
3 Active Stocks with Decent Volume*: (LLOY) LLOYDS BANKING GROUP PLC; (VOD) VODAFONE PLC; (CNA) CENTRICA PLC.
Top Sectors traded in the positive zone*: Healthcare (+1.37 per cent), Consumer Non-Cyclicals (+1.26 per cent) and Utilities (+0.53 per cent).
Top Sectors traded in the negative zone*: Technology (-4.29 per cent), Consumer Cyclicals (-2.43 per cent) and Energy (-1.97 per cent).
Crude Oil Future Prices*: WTI crude oil (future) price was hovering at $38.95 per barrel, and Brent future crude oil (future) price was trading at $41.13 per barrel.
Forex Rates*: GBP to USD and EUR to GBP were hovering at 1.2755 and 0.8900, respectively.
Bond Yields*: U.S 10-Year Treasury yield was tilting at 0.776 per cent, and the UK 10-Year Government Bond yield was hovering at 0.256 per cent, respectively.
*At the time of writing
