Global Markets: Stocks at the NYSE were trading in mix, with the Dow Jones Industrial Average traded marginally higher at 26,906.61, up by 78.97 points or 0.29%, the S&P 500 index added 3.70 points or 0.12% to 3,010.42 and the technology benchmark index Nasdaq Composite dipped by 17.23 points or 0.21% to 8,145.75 (at the time of writing, before the US market close, ET 1:55 PM).
Global News: On 22nd October 2019, U.S. stock markets opened flat after reporting robust gains in earnings in the beginning of the week. Procter and Gamble stock rose 4.5 per cent after its reported earnings were ahead of the market estimates due to the increase in the demand for its premium beauty brands. Hasbro was down 13.8 per cent after reporting both earnings and revenue below the market expectations and estimates. Biogen share price was up 36 per cent after news reports arising that it was seeking FDA approval after phase 3 studies for its aducanumab drug for treating the early stages of Alzheimer's came out to be positive. Bank of America stock was up 0.2 per cent after an analyst upgraded its outlook on the company because of growth in the bank’s deposit in the third quarter. Harley Davidson reported earnings higher than the market expectations and its stock rose by approximately 7.1 per cent.
S&P 500 (SPX)
Top Performers: Biogen Inc, Bristol-Myers Squibb Co and Harley-Davidson Inc are top gainers and increased by 36.02%, 6.73% and 6.27% respectively.
Worst Performers: Hasbro Inc, Travelers Companies Inc and United Parcel Service Inc are the top three laggards and decreased by 13.77%, 6.57% and 4.71% respectively.
NASDAQ Composite (IXIC)
Top Performers: Trovagene Inc, Biogen Inc, and Stamps.com Inc are top gainers and increased by 96.77%, 35.04% and 18.93% respectively.
Worst Performers: Tile Shop Holdings Inc, Pareteum Corp and InVivo Therapeutics Holdings Corp are the top three laggards and decreased by 65.37%, 46.57% and 27.96% respectively.
Top Performing Sectors: Healthcare (up 1.78%), Telecommunications Services (up 0.44%), and Technology (up 0.30%).
Worst Performing Sectors: Consumer Cyclicals (down 0.31%), Industrials (down 0.24%), and Financials (down 0.22%)
Dow Jones Industrial Average (DJI)
Top Performers: Procter & Gamble Co, Walt Disney Co and Boeing Co are top gainers and increased by 3.71%, 2.24% and 1.60% respectively.
Worst Performers: Travelers Companies Inc, Merck & Co Inc and Mcdonald’s Corp are the top three laggards and decreased by 6.14%, 4.18% and 3.30% respectively.
European Markets: The London’s broader equity benchmark index FTSE 100 traded at 48.85 points or 0.68% higher at 7,212.49, the FTSE 250 index snapped 126.88 points or 0.62% lower at 20,181.91, and the FTSE All-Share Index ended 17.32 points or 0.44% higher at 3,982.66 respectively. Another European equity benchmark index STOXX 600 ended at 394.59, up by 0.37 points or 0.09 per cent.
European News: In an important day for the British Prime Minister Boris Johnson who faces two critical votes in parliament on Tuesday, after opponents forced him into asking the European Union for a delay, lawmakers will vote on the Withdrawal Agreement Bill and then on the extremely tight timetable for approving the legislation. This would determine whether he would be able to take the country out of the bloc on 31 October, but opponents would try to delay Brexit, and defeat in either vote would scupper his plans. A survey by the Confederation of British Industry indicated that due to the slowing global economy and Brexit uncertainty, British manufacturers anticipate the most extensive drop in orders for a decade over the next three months. Public sector net borrowing in September alone totalled £9.4 billion as British federal borrowing rose by more than 20 per cent in the first half of the tax year, indicating that the government was on course to miss its goal of keeping borrowing below 2 per cent of gross domestic product in 2020/21.
London Stock Exchange*
Top Performers: JUST EAT PLC (JE), FOXTONS GROUP PLC (FOXT) and FUNDING CIRCLE HOLDINGS PLC (FCH) were top gainers and leapt up by 24.36%, 8.96% and 7.31% respectively.
Worst Performers: FORTERRA PLC (FORT), TUI AG (TUI) and TT ELECTRONICS PLC (TTG) were the top three laggards and dipped by 8.70%, 6.61% and 5.88% respectively.
FTSE 100 Index*
5 days share price performance (October-22-2019), before the market closed (Chart sourced from Thomson Reuters)
Top Gainers: JUST EAT PLC (JE), ST. JAMES'S PLACE PLC (STJ) and ROLLS-ROYCE HOLDINGS PLC (RR) were top performers and accelerated by 24.36%, 2.91% and 2.58% respectively.
Top Laggards: TUI AG (TUI), M&G PLC (MNG) and BUNZL PLC (BNZL) were the poor performers and tumbled by 6.76%, 5.60% and 3.03% respectively.
Volume Leaders: (LLOY) LLOYDS BANKING GROUP PLC; (HSBA) HSBC HLDGS PLC; (MNG) M&G PLC.
Best Performing Sectors: Technology (up 4.31%), Healthcare (up 1.49%), and Energy (up 1.21%).
Worst Performing Sectors: Telecommunications Services (down 0.30%) and Consumer Cyclicals (down 0.25%).
Forex Rates*: GBP/USD and EUR/GBP were quoting at 1.2979 and 0.8590, respectively.
Bond Yields*: U.S 10-Year Treasuries yield was quoting at 1.791%, and the UK 10-Year Government Bond yield was trading at 0.712%, respectively.
*At the time of writing
With Bank of England reducing the interest rates to a historic low level, the spotlight is back on diverse investment opportunities.
Amidst this, are you getting worried about these falling interest rates and wondering where to put your money?
Well! Team Kalkine has a solution for you. You still can earn a relatively stable income by putting money in the dividend-paying stocks.
We think it is the perfect time when you should start accumulating selective dividend stocks to beat the low-interest rates, while we provide a tailored offering in view of valuable stock opportunities and any dividend cut backs to be considered amid scenarios including a prolonged market meltdown.