GOLD The gold price fell yesterday as low as $1,570, breaking down the first support level of $1,590 in the process, on growing fears that central banks will buy much less gold and other precious metals in the next few years. Despite this quick descent and despite the strength of greenback seen in the last…
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Health names soar in Monday rally All three of the major US stock indices finished more than 3% up on Monday, with healthcare the best performing of the 11 sectors in the S&P 500. The sector gained 4.7%, driven by the healthcare technology and pharmaceutical sub-sectors, which gained 7.1% and 5.8% respectively. Hospital firm Universal…
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OIL The weakness of stock markets is adding further bearish pressure on the oil price, with the WTI benchmark again approaching the psychological threshold of $20. Markets are now betting that the crisis could be relatively long, and the barrel is the perfect asset to be shorted by traders. From a technical point of view,…
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EUROPEAN SHARES Friday saw most European benchmarks consolidate following a solid three day rally. The market sentiment remains alive today, thanks to the global support measures taken in almost every region. However, investors around the world may be tempted to take some profits before the weekend. The spread of the virus doesn’t seem to be…
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EUROPEAN SHARES Share markets opened lower everywhere in Europe on Thursday as uncertainty remains the overriding sentiment and has pushed investors into taking any profits generated by this week’s recovery attempt. The fact remains that investors from around the world have welcomed the recent historical batch of monetary and fiscal responses to coronavirus and these…
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Hardest hit industries lead historic rally It was the sectors that have suffered the most in recent weeks that led Tuesday’s mammoth rally, with the S&P 500’s energy names rallying 16.3%, financials 12.8% and industrials 12.8%. Within the industrial sector, airlines had the best day with a 19% gain; Delta Air Lines climbed 21% despite…
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Semiconductor names a standout as stocks continue slide While the S&P 500 sank 2.9% on Monday, with ten of its 11 sectors in the red, chip makers were a rare bright spot. The semiconductors sub-sector of the Information Technology sector gained 4.1%, led by names including Intel, Advanced Micro Devices and Nvidia which rose 8.2%,…
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EUROPEAN SHARES Shares tumbled globally on Monday, with prices returning to last week’s lows as the spread of the deadly virus continues to have a big impact on market sentiment. Even though most markets tried to consolidate around major technical support zones last week after one of the steepest declines in decades, investors’ trading stance…
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Friday afternoon selloff caps dire week for US stocks Last week was a dismal one for US stocks, with all three major indices posting double-digit losses despite the Federal Reserve slashing interest rates to near-zero and announcing the restarting of quantitative easing. The Dow Jones Industrial Average is now down 32.8% year-to-date, after a Friday…
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OIL Crude oil has managed to recover almost 40% of its value after the low it sunk to two days ago at $20. This is also giving a bit of relief to stocks related to energy sector, such as Total, Eni and Shell, which is up almost 10%. After the strong sell-off seen earlier this…
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