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?
Wall Street concludes up amid diving fears of a trade war
On Friday, the Dow and S&P 500 indexes concluded the third session in a row up, demonstrating the longest growth series in about a month, as market participants began to less fear the escalation of the trade dispute between the US and China and shifted attention to the upcoming season of reporting .
The Cboe Volatility index, the indicator of short-term volatility of the S&P 500, followed closely by market participants, headed south by 1.12 points to 18.94, which is a minimum of more than two weeks.
Paper Boeing that turned to be among the leaders of the decline in the trading environment, after China announced the introduction of duties on goods from America worth $ 50 billion, went up by 2.7% and became the key driver of the surge of the Dow index. They were followed by Goldman Sachs, which gained 1.3%.
The investors 'optimism regarding the companies' profit in the first quarter inched up, with the reporting season starting next week, which should open the results of JPMorgan Chase as well as several other financial companies.
The Dow Jones managed to conclude the trading session with a jump of 0.99% demonstrating a result of 24.505.22. As for the S&P 500 index, it went down by 0.69% being worth 2.662.84 points. In addition to this, the Nasdaq Composite index demonstrated a 0.49% dive, coming up with 7.076.55.
Equities of Facebook, Amazon, Alphabet as well as Netflix managed to soar from 0.3% to approximately 3%.
Meanwhile, the FTSE 100 inched down 0.3% in the United Kingdom, while the German Dax declined 0.56% and France's CAC 40 lost 0.41%.
Additionally, some Asian currencies demonstrated signs of investor anxiety.
The Chinese Yuan headed south 0.4% versus the evergreen buck, thus bringing week-to-date losses to about 0.8%.
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 $20 per barrel just in the beginning of the day. Currently - above 25$.