
BoA has tracked signs of the upcoming stock market sell-off. While more expensive and at-risk stocks are set to fall, value stocks should survive.
On Monday, American futures dived because soaring trade tensions between China and the United States kept putting pressure on market participants.
The S&P 500 futures dived by 0.58% being worth 2,786.25, Dow futures slumped by 0.70% hitting 24,933.0. At the same time Nasdaq 100 futures headed south 0.69% trading at 7,231.25.
On Friday, American leader Donald Trump came up with a 25% duty on 818 China’s goods worth $34 billion starting on July 6. In turn, China rolled out a 25% duty on American goods, including vehicles soybeans.
The two world’s leading economies have been arguing over global trade duties for several months, both refusing to have their trade differences reconciled. The duties have ramped up chances of a devastating global trade conflict because Canada and the European Union have made up its mind to effectively respond to American metal duties.
Chinese e-commerce company Jd.Com Inc Adr happened to be among the top-notch performers in pre-market trading, soaring 8.51% after Google informed it was pumping $550 million in the company.
In addition to this, Bank of America went down by 0.41% and Tesla lost 1.35%. As for General Electric, its equities headed south by 0.45%. Additionally, technology stocks dived, with Netflix sinking 0.66% and Facebook losing 0.56%. The equities of Intel inched down 0.93%.
In the European Union, equities generally dipped. Germany’s DAX edged down by 1.25%, France’s CAC 40 headed south by 1.10%, while London’s FTSE 100 decreased by 0.36%. Besides this, the European Euro Stoxx 50 slumped by 1.17%, Spain’s IBEX 35 decreased by 0.71%.
As for commodities, gold futures managed to gain up to 0.39% coming up with an outcome of $1,283.50 a troy ounce. Crude futures went down by 0.42% demonstrating $64.58 a barrel.
The US dollar index that estimates the major American currency versus its six main counterparts, declined by 0.04% reaching 94.41.
BoA has tracked signs of the upcoming stock market sell-off. While more expensive and at-risk stocks are set to fall, value stocks should survive.
On Saturday, the US Food and Drug Administration approved Johnson&Johnson’s vaccine for emergency use against Covid-19. Will JNJ rise?
Twitter reported encouraging earnings results. Cisco's earnings beat estimates, but revenue declined for the fifth quarter in a row.
Great news for oil bulls! OPEC and its allied producers agreed to expand output cuts for the next month.
The USD skyrocketed after Fed Powell’s speech. OPEC and allied producers agreed to extend production cuts for another month. Oil surged.
The European Central Bank publishes its monetary policy statement that includes an announcement of the interest rate on March 11, at 14:45 MT time.
FBS maintains a record of your data to run this website. By pressing the “Accept” button, you agree to our Privacy policy.
Your request is accepted.
A manager will call you shortly.
Next callback request for this phone number
will be available in 00:30:00
If you have an urgent issue please contact us via
Live chat
Internal error. Please try again later
Don’t waste your time – keep track of how NFP affects the US dollar and profit!
Beginner Forex book will guide you through the world of trading.
We've emailed a special link to your e-mail.
Click the link to confirm your address and get Beginner Forex book for free.