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 inch down as market jitters get back
On Tuesday, American equities pointed to a lower starting bell. It’s because market participants get back from a long holiday weekend, while inflation worries keep rattling markets.
The S&P 500 futures went down 0.72% being worth 2,715.25, while Dow futures lost 0.78% showing a result of 25,038.0. At the same time tech heavy Nasdaq 100 futures slumped 0.78% hitting 6,733.75.
New jitters have gotten back to the market because market participants keep an eye on the bond market in the face of inflation worries. On Monday, financial markets were unavailable due to President’s Day.
Bond revenues keep going up, with the benchmark 10-Year Treasury note soaring to 2.904% as well as the 30-Year note adding to 3.151%.
Drugstore chain Rite Aid Corporation found itself among the top notch performers in pre-market trade, adding 29.11% following news that grocer Albertson was in the process of acquiring the company. Additionally, Matheson Analytics Inc and Helios managed to grow 4.22%.
Aside from that Snap Inc headed south 4.70%, HSBC Holdings declined 3.90% right after its financial outcomes missed experts’ hopes, while Apple went down 1.06%.
Home Depot headed south 0.25% in pre-market trade notwithstanding posting higher than anticipated profit for the fourth quarter. Besides this Walmart tacked on 0.11% after its revenues had expectations surpassed.
Market participants will also pay attention to other corporate revenues, such as Domino’s Pizza Group Plc, LendingClub Corp as well as Cracker Barrel Old Country Store.
In the European Union equities generally headed south. For instance, Germany’s DAX inched down 0.15%. Meanwhile, in France the CAC 40 stood still, while in London, the FTSE 100 declined 0.36%. At the same time the pan-European Euro Stoxx 50 grasped just one point, while Spain’s benchmark IBEX 35 went up 35 points.
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!
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.
WTI was at $20 per barrel just in the beginning of the day. Currently - above 25$.