The so-called “stock market bloodbath” has continued on Friday with major indices falling down to the lows of the last October. What's going on?
American equities generally ascend
On Tuesday, American futures moderately rallied. Tech equities turned out to be in focus after blowout outcomes from Alphabet, which is Google’s parent company as well as one of the main tech giants in the market.
Dow Jones Industrial Average futures YMU8 managed to ascend 0.5% coming up with an outcome of 25,158. S&P 500 futures jumped 0.2% reaching 2,819. As for Nasdaq-100 futures, they soared 0.2% being worth 7,445.38.
On Monday, the Dow went down 13.83 points trading at 25,044.29, demonstrating a third straight loss for the index. The S&P 500 index jumped 0.2% hitting 2,806.98; the Nasdaq Composite added 0.3% demonstrating 7,841.87.
The equities of Alphabet GOOGL managed to rally 4% on results, which surpassed expectations.
Market participants are closely watching the possibility of new stimulus from China, after the Chinese State Council came up with measures aimed at spurring domestic consumption, including corporate tax cuts as well as support for small businesses.
Chinese bond revenues rallied too just a day after American Treasuries along with sovereign bonds were underpinned by news that the Bank of Japan could be ready to have its monetary policy approach adjusted at its next gathering. The revenue on the 10-year American Treasury noteTMUBMUSD10Y stood still, sticking with 2.96%.
Biogen Inc. BIIB managed to soar 4% having reported updated second-quarter profits that confounded hopes.
3M Co. MMM ascended 2.3% right after the Dow conglomerate posted better-than-anticipated revenues and increased its outlook.
United Technologies Inc. UTX managed to rally 1.5% because its second-quarter earnings as well as sales topped analysts’ estimates.
Kimberly-Clark Corp. KMB went down 2.6% due to the fact its econd-quarter revenue confounded expectations.
Lockheed Martin Corp. LMT tacked on1.4% after the defense company posted second-quarter sales and earnings, which surpassed hopes.
Harley-Davidson Inc. HOG ascended about 1.1%.
Besides coronavirus, other news has been driving the stocks of Apple, Wallmart and General Motors to the lower levels.
Will coronavirus continue keeping the markets in fear? What releases should we wait for? Find out in the news!
RBA Rate Statement is released on Tuesday at 07:30 MT time.
WTI oil prices jumped up after Donald Trump’s 2 tweets
Today the US nonfarm payroll data will be reported that could cause fluctuations of the market.