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 futures head north, as traders closely watch bank earnings
On Friday, American futures managed to ascend because traders closely watched the beginning of the third quarter earnings season following a volatile trading week.
As a matter of fact, S&P 500 futures tacked on by 1.03% ending up with 2,773.75. Meanwhile, Dow futures managed to surge by 0.95% trading at 25,423.0. As for Nasdaq 100, it gained 1.61% demonstrating a reading of 7,144.25.
This week all three indexes concluded in the red due to the fact that surging Treasury gains as well as fears over inflation provoked a huge equity sell-off.
American leader blamed the key US bank’s uptick in interest rates for the huge dive in equities.
Besides this, Wells Fargo as well as Citigroup are anticipated to post earnings outcomes before the starting bell. As for JPMorgan, it gained 0.90% because its financial outcomes appeared to be better than anticipated.
Technology stocks found themselves among the top-notch performers in premarket trading. For instance, Facebook jumped by 1.17%. Snap added 2.93%. As for Microsoft, its shared tacked on by 2.92%. Additionally, Tesla soared by 2.69%, and Square gained 6.84%.
Besides this, Trevena Inc slumped by 24.90%, while Randgold Resources Ltd ADR dived by 0.06%.
As for Europe equities, they generally gained. The DAX added 0.37% in Germany. The CAC 40 jumped by 0.45% in France. Furthermore, the FTSE 100 soared by 0.58% in Great Britain. The Euro Stoxx 50 ascended by 0.19%. The IBEX 35 dipped by 0.34% in Spain.
As for commodities, gold futures managed to dive by 0.28% coming up with a reading of $1,224.20 a troy ounce. Moreover, crude futures soared by 0.75% hitting $71.50 a barrel.
Assessing the purchasing potential of the US currency against its main counterparts the USD index surged by 0.10% showing 94.78.
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 $20 per barrel just in the beginning of the day. Currently - above 25$.