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US Markets: Broader indices in the United States traded in green - particularly, the S&P 500 index traded 15.16 points or 0.47 per cent higher at 3,252.08, Dow Jones Industrial Average Index expanded by 83.51 points or 0.31 per cent higher at 26,846.64, and the technology benchmark index Nasdaq Composite traded higher at 10,712.88, up by 79.89 points or 0.75 per cent against the previous day close (at the time of writing, before the US market close at 12:45 PM ET).
US Market News: The Wall Street traded in the red as the US reported weekly jobless claims of 870,000 above expected weekly claims of 850,000. The new home sales in the US increased by 4.8 percent month on month in August 2020 that was well above the expected decline of 0.1 percent. Among the gaining stocks, EW Scripps surged by nearly 23.2 percent after the reports that it would buy ION Media for USD 2.65 billion. Blackberry moved up by about 5.4 percent after it reported earnings above street’s consensus following the demand for its car and security software. Darden Restaurants gained around 4.4 percent after the company reinstated the dividend. FactSet was up by around 2.2 percent after it reported earnings better than the estimates. Among the downward trending stocks, CarMax shares plunged by around 12.0 percent, although the company witnessed increased vehicle sales. Accenture was trading down by about 6.3 percent after the company posted a quarterly profit of 1.7 USD cents per share that was below the market’s expectation. UnitedHealth slipped by close to 0.4 percent after the company was in discussion to buy DivvyDose, an online pharma startup.
US Stocks Performance*
European News: The London and European markets retreated on Thursday as the covid-19 cases continue to surge. The monthly retail sales balance reported by the Confederation of British Industry increased to +11 in September 2020 from -6 reported in August 2020. Meanwhile, the Bank of England welcomed the job support provided by the finance minister Rishi Sunak. Among the gaining stocks, Pets At Home skyrocketed by around 24.2 percent after the company expected full-year revenue above the market’s expectation. United Utilities gained close to 1.8 percent, although the company highlighted lower consumption by businesses due to the pandemic. Mitchells & Butlers moved up by nearly 1.7 percent, although the company expects a challenging future outlook. Go-Ahead was up by around 1.0 percent after the company highlighted that it is operating more than 90 percent of its buses. Among the decliners, shares of Cineworld plunged by about 11.3 percent after the company reported a loss and stated that it might raise funds. Smiths was down by close to 6.8 percent after the company reported an annual loss and it may slash jobs.
European Index Performance*:
FTSE 100 Index One Year Performance (as on 24 September 2020)
1 Year FTSE 100 Chart (Source: EODHD/Others, Thomson Reuters)
Top 3 Volume Stocks in FTSE 100*: Lloyds Banking Group Plc (LLOY); Vodafone Group Plc (VOD); International Consolidated Airlines Group SA (IAG).
Top 3 Sectors traded in red*: Healthcare (-3.07%), Industrials (-2.33%) and Energy (-1.54%).
London Stock Exchange: Stocks Performance (at the time of writing)
Crude Oil Future Prices*: Brent future crude oil (future) price and WTI crude oil (future) price were hovering at $41.83/barrel and $40.23/barrel, respectively.
Gold Price*: Gold price was quoting at US$1,873.05 per ounce, up by 0.25% against the prior day closing.
Currency Rates*: GBP to USD: 1.2759; EUR to GBP: 0.9152.
Bond Yields*: US 10-Year Treasury yield: 0.669%; UK 10-Year Government Bond yield: 0.209%.
*At the time of writing
