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 rally, as traders look ahead to economic reports
On Thursday, American futures headed north because market participants looked ahead to a bunch of economic reports.
The S&P 500 futures managed to acquire 0.39% being worth 2,715.50. Dow futures tacked on by 0.38% coming up with 24,227.0. At the same time, tech heavy Nasdaq 100 futures ascended by 0.43% trading at 7,028.00.
Market participants are actually waiting for the GDP data expected to be released soon. Jobless claims are anticipated to be published soon too.
At the same time, trade tensions were still in the back of traders’ minds right after the White House told it’s going to rely on the Committee on Foreign Investment in America have domestic technology protected from foreign investment.
Netflix turned out to be amid the top-notch performers in pre-market trading, soaring by 1.44%. At the same time Tesla managed to edge up by 0.78%, Facebook soared by 0.18%. As for Microsoft, its equities rallied by 0.47%. Additionally, Advanced Micro Devices Inc inched up by 1%.
In addition to this, Tata Motors Limited ADR headed south by 2.35%, Pier 1 Imports Inc went down by approximately 15.67% after its sales tumbled more than anticipated in the first quarter.
Meanwhile, Walgreens Boots Alliance, Nike as well as Accenture PLC are anticipated to uncover their financial outcomes on Thursday.
In the European bloc, equities generally slumped. In Germany, the DAX headed south by 0.73%, in France the CAC 40 dipped by 0.35%, while in London, the FTSE 100 lost 0.01%. The Euro Stoxx 50 edged down by 0.49%. In Spain, the IBEX 35 lost 0.41%.
Gold futures went down by 0.18% being worth $1,253.80 a troy ounce. Crude futures managed to gain by 0.25% trading at $72.94 a barrel. Estimating the US currency’s purchasing power versus six main currencies, the USD index tumbled by 0.17% being worth 94.86.
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.