US stocks end week higher as House approves second bailout package
US stock market ended sharply lower on Friday despite approval by the House of Representatives of a second bailout package exceeding $2 trillion. The S&P 500 fell 3.4% to 2541.47, erasing most of previous week’s 15% loss as it booked a 10.3% weekly gain. Dow Jones industrial dropped 4.1% to 21636.78. The Nasdaq ended 3.8% lower at 7502.38. The dollar weakening slowed as consumer spending increased an expected 0.2% in February. The live dollar index data show the ICE US Dollar index, a measure of the dollar’s strength against a basket of six rival currencies, lost 1.1% to 98.29 but is higher currently. President Trump on Sunday extended the voluntary national social-distancing guidelines through April 30. Futures point to lower market openings today.
FTSE 100 led European stock indexes pullback
European stocks pulled back on Friday. EUR/USD reversed its climbing while GBP/USD added to its gains on Friday with both pairs lower currently. The Stoxx Europe 600 Index lost 3.2% led by autos and travel/leisure shares. The DAX 30 slid 3.7% to 9632.52 Friday. France’s CAC 40 dropped 4.2% and UK’s FTSE 100 tumbled 5.5% to 5510.33.
Australia’s All Ordinaries Index jumps while Asian indexes fall
Asian stock indices are mostly lower today. Nikkei lost 1.6% to 19084.97 despite resumed yen slideing against the dollar. China’s markets are falling: the Shanghai Composite Index is down 0.9% while Hong Kong’s Hang Seng Index is 1.5% lower. Australia’s All Ordinaries Index however jumped 7% as Australian dollar resumed its sliding against the greenback, and the government announced an additional A$1.1 billion ($680 million) will be spent on health and law services (besides earlier measures which equaled to about 10% of Australia’s annual gross domestic product) and decreed a moratorium on evictions of people from their rentals in the next six months.
Brent accelerates declines
Brent futures prices accelerated their plunge today following a 7.6% drop last week. Prices fell on Friday despite Baker Hughes report the number of active US rigs drilling for oil dropped by 40 to 624 last week. Brent for May settlement lost 5.4% to $24.93 a barrel Friday.
Gold rebound persists
Gold prices are inching higher today. Prices rose on Friday as dollar weakening continued. Gold for April delivery gained 1.6% to $1625 on Friday.
US stock market ended sharply lower on Friday despite approval by the House of Representatives of a second bailout package exceeding $2 trillion. The S&P 500 fell 3.4% to 2541.47, erasing most of previous week’s 15% loss as it booked a 10.3% weekly gain. Dow Jones industrial dropped 4.1% to 21636.78. The Nasdaq ended 3.8% lower at 7502.38. The dollar weakening slowed as consumer spending increased an expected 0.2% in February. The live dollar index data show the ICE US Dollar index, a measure of the dollar’s strength against a basket of six rival currencies, lost 1.1% to 98.29 but is higher currently. President Trump on Sunday extended the voluntary national social-distancing guidelines through April 30. Futures point to lower market openings today.
FTSE 100 led European stock indexes pullback
European stocks pulled back on Friday. EUR/USD reversed its climbing while GBP/USD added to its gains on Friday with both pairs lower currently. The Stoxx Europe 600 Index lost 3.2% led by autos and travel/leisure shares. The DAX 30 slid 3.7% to 9632.52 Friday. France’s CAC 40 dropped 4.2% and UK’s FTSE 100 tumbled 5.5% to 5510.33.
Australia’s All Ordinaries Index jumps while Asian indexes fall
Asian stock indices are mostly lower today. Nikkei lost 1.6% to 19084.97 despite resumed yen slideing against the dollar. China’s markets are falling: the Shanghai Composite Index is down 0.9% while Hong Kong’s Hang Seng Index is 1.5% lower. Australia’s All Ordinaries Index however jumped 7% as Australian dollar resumed its sliding against the greenback, and the government announced an additional A$1.1 billion ($680 million) will be spent on health and law services (besides earlier measures which equaled to about 10% of Australia’s annual gross domestic product) and decreed a moratorium on evictions of people from their rentals in the next six months.
Brent accelerates declines
Brent futures prices accelerated their plunge today following a 7.6% drop last week. Prices fell on Friday despite Baker Hughes report the number of active US rigs drilling for oil dropped by 40 to 624 last week. Brent for May settlement lost 5.4% to $24.93 a barrel Friday.
Gold rebound persists
Gold prices are inching higher today. Prices rose on Friday as dollar weakening continued. Gold for April delivery gained 1.6% to $1625 on Friday.