AUS
NZ
UK
CA
USA
IND
US Markets: Broader indexes in the United States were trading in red, with the S&P 500 index traded 35.24 points or 1.06% lower at 3,290.30, Dow Jones Industrial Average Index contracted by 249.09 points or 0.85% lower and quoting at 28,911.00 and the technology benchmark index Nasdaq Composite traded lower at 9,304.06 and was down by 98.42 points or 1.05% against its previous day close (at the time of writing, before the U.S market close at ET 2:15 PM).Â
US News: On 24th January 2020, US Stocks opened in the red, after impeachment proceedings against President Trump in the senate caused some stir in the confidence of investors. Alibaba ADRs were down by 0.3 per cent, following trade slowdown with China, due to the deadly virus outbreak. Intel reported its earnings above the market expectations, post which its shares shot up by 4.6 per cent. Broadcom shares also jumped 3.3 per cent after being upgraded by an analyst. After a deal was announced with Broadcom, Apple shares also inched up 1.5 per cent in pre-market trade. Nextera energy was up by 1.2 per cent, after its parent company became one of the biggest producers of energy in the country. American Express was up by 2.5 per cent, after reporting excellent earnings for the previous period.
S&P 500 (SPX)
Top Performers*: Intel Corp, American Express Co, and Arista Networks Inc are top gainers and increased by 7.52%, 4.80% and 4.24% respectively.
Worst Performers*: Discover Financial Services, Synchrony Financial, and Intuitive Surgical Inc are the top three laggards and decreased by 10.19%, 7.24% and 10.19% respectively.
NASDAQ Composite (IXIC)
Top Performers*: SAExploration Holding Inc, Tonix Pharmaceuticals Holdings, and Sonoma Pharmaceuticals Inc are top gainers and increased by 39.21%, 35.25% and 28.29% respectively.
Worst Performers*: Toughbuilt Industries Inc, Senestech Inc, and Co-Diagnostics Inc are the top three laggards and decreased by 43.17%, 21.49% and 16.75% respectively.
Top Performing Sectors*: Technology (up 0.75%), Financials (Up 0.23%), Consumer non-cyclicals (Up 0.18%).
Non-Performing Sectors*: Utilities (-0.24%) and Basic Materials (-0.18%).
Dow Jones Industrial Average (DJI)
Elite Performers*: International Business Machines Corp, McDonaldâs Corp, and Cisco Systems Inc were in the green zone and expanded by 3.43%, 1.08% and 0.98% respectively.
Non-Performers*: Johnson & Johnson, Boeing Co, and Dow Inc were among the beaten down stocks and contracted by 1.40%, 0.68% and 0.34% respectively.
European Markets: FTSE 100 index, the Londonâs broader equity benchmark index traded at 78.31 points or 1.04% higher at 7,585.98, the FTSE 250 index surged by 223.38 points or 1.04% higher at 21,763.94, and the FTSE All-Share Index ended 42.80 points or 1.03% higher at 4,213.14 respectively. Another European equity benchmark index STOXX 600 ended at 423.64, up by 3.61 points or 0.86 per cent.
European News: In economic news, the flash purchasing managersâ index of purchasing managers in United Kingdom published on Friday 24 January 2020 has seen a strong growth and is the strongest since September 2018. The news is providing fresh impetus to the forces that are opposed to a rate cut by the Bank of England. The Central bank is set to take a decision of the same on 31 January 2020 on this matter. Over a period of several weeks, there have been several such important indicators that have started to trend positively making a negative case for a rate cut by BoE. Â In business news, Buyers of British steel Chinese firm Jingye have announced up to 500 jobs cuts ahead of the completion of a deal to buy the financially stressed steel company.
London Stock Exchange (LSE)
Companies in the Top Gainers list*: AVON RUBBER PLC (AVON), KENMARE RESOURCES PLC (KMR) and RENISHAW PLC (RSW) zoomed up by 8.11%, 7.75% and 7.57% respectively.
Companies in the Top Laggards list*: FINABLR PLC (FIN), ALLIED MINDS PLC (ALM) and MARSTONâs PLC (MARS) were in the red zone and declined by 26.8%, 5.95% and 5.46% respectively.
FTSE 100 Index
FTSE-100 index performance â January 24th, 2020 (Source: Thomson Reuters)
Companies in the FTSE 100 Top Gainers list*: AUTO TRADER GROUP PLC (AUTO), RENTOKIL INITIAL PLC (RTO), and EXPERIAN PLC (EXPN) accelerated by 3.54%, 3.17% and 3.10% respectively.
Companies in the FTSE 100 Top Laggards list*: JUST EAT (JE.), NMC HEALTH PLC (NMC), Whitbread Plc (WTB), went down by 2.00%, 1.32% and 1.22% respectively.
Companies in the FTSE 100 list with Volume Traction*: LLOYDS GRP. (LLOY), VODAFONE GRP. (VOD) and GLENCORE PLC (GLEN).
Sectors in the positive zone*: INDUSTRIALS (up 1.86%), UTILITIES (up 1.82%), and FINANCIALS (up 1.52%).
Foreign Exchange Rate Quotation*: GBP/USD and EUR/GBP currency pairs traded at 1.3075 and 0.8436, respectively.
U.S. and U.K. 10-Year Bond Yields*: U.S. 10-Year Treasuries yield were quoting at 1.672%, and the U.K. 10-Year Government Bond yield was trading at 0.567%, respectively.
*At the time of writing the commentary.
