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, S&P overleaps key support level
On Wednesday, the three key indices of the American stock market tacked on following the volatile session on Tuesday, while market participants were waiting for the beginning of the reporting season, with the S&P 500 soaring above the key support level as well as Amazon securities strengthening amid hopes that the US president's criticism addressed to the company won’t provoke changes in regulation.
The Dow Jones concluded the trading session with a rise of about 1.65% hitting 24.033.36, the S&P 500 index managed to acquire 1.26% reaching 2.614.45, while the Nasdaq Composite index gained 1.04% being worth 6.941.28.
Additionally, the technological sector S&P 500 completed the session with a 1% leap.
Equities of Amazon lent the greatest support to the Nasdaq index. The White House said it didn’t take any action, although Trump kept criticizing the online retailer, as follows from a report by Bloomberg.
Market participants told that they focused on the technical levels of the indices. The S&P 500 overcame the 200-day moving average about an hour before the end of Tuesday's trading session. Moreover, it stood higher up to the end of the session.
Tesla Inc climbed up 6% because the manufacturer of electric vehicles told it no longer required capital increase in 2018 and also reported high production figures for the Model 3 cars.
In addition to this, equities of Viacom Inc. headed south about 3.7% right after Reuters reported that CBS Corp is on the verge of making an offer to purchase a media company below its current market value. As a matter of fact, CBS equities tacked on 4.2%.
Wall Street market experts actually expect revenues of companies included in the S&P 500 index to inch up 18.4% in the first quarter, as Reuters revealed.
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!
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