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US Markets: Broader indices in the United States traded in green - particularly, the S&P 500 index traded 18.17 points or 0.52 per cent higher at 3,496.90, Dow Jones Industrial Average Index expanded by 283.13 points or 1.00 per cent higher at 28,615.05, and the technology benchmark index Nasdaq Composite traded higher at 11,676.76, up by 11.70 points or 0.10 per cent against the previous day close (at the time of writing, before the US market close at 3:25 PM ET).
US Market News: The US market opened in the green as the Fed targets for 2 percent inflation rate. The US jobless claims were close to 1.0 million for the week ended 22 August 2020 that was below jobless claims of 1.1 million reported a week ago. Meanwhile, the US GDP plunged by 31.7 percent quarter on quarter in Q2 2020 that was below an expected decline of 32.5 percent. Among the gaining stocks, Abercrombie & Fitch surged by close to 16.1 percent after the company reported a quarterly profit. Abbott Lab was up by close to 7.2 percent after the company got FDA approval for the rapid covid-19 test. Burlington Stores shares were up by about 3.0 percent after the company stated it expects better performance in the current quarter. Tiffany shares were up by around 2.1 percent after the company reported improved sales in China. Among the decliners, Coty shares were down by about 7.5 percent after the company reported a loss per share of 46 USD cents.
US Stocks Performance (at the time of writing)
European News: The London and the European market traded in the red amid the reports that UK services firm would go for job cuts. Meanwhile, the UK car production increased by 51 percent month on month in July 2020 as 85,696 cars were manufactured. Among the gaining stocks, OneSavings Bank was up by close to 15.8 percent after the company reported an increase in statutory new gross loans in H1 FY20. WPP was up by about 6.9 percent after the company declared the interim dividend of 10 pence per share. Puretech Health was up by around 0.4 percent after the company stated that it expects the result for dose study of LYT-100 in the second half of the year. Among the decliners, Roll Royce shares were down by close to 1.6 percent after the company plans to sell ITP Aero, its Spanish unit. Hays was down by close to 1.2 percent after the company reported a fall in the annual net fees. Flutter Entertainment was down by about 0.2 percent after the company posted a lower profit in H1 FY20 compared to the previous year.
European Indices Performance (at the time of writing)
FTSE 100 Index Chart
1 Year FTSE 100 Index Performance (27 August 2020), before the market closed (Source: EODHD/Others, Thomson Reuters)
Stocks traded with decent volume*: (LLOY) LLOYDS BANKING GROUP PLC; (RR.) ROLLS-ROYCE HOLDINGS PLC; (BP.) BP PLC.
Sectors traded in the positive zone*: Consumer Cyclicals (+0.59%) and Consumer Non-Cyclicals (+0.08%).
Sectors traded in the negative zone*: Basic Materials (-1.87%), Health Care (-1.52%) and Technology (-0.97%).
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 $43.03 per barrel and $45.60 per barrel, respectively.
Gold Price*: Gold price was trading at USD 1,940.35 per ounce, down by 0.62% from previous day closing.
Currency Rates*: GBP to USD and EUR to GBP were hovering at 1.3209 and 0.8951, respectively.
Bond Yields*: U.S 10-Year Treasury yield and UK 10-Year Government Bond yield were trading at 0.742 per cent and 0.338 per cent, respectively.
*At the time of writing
