Oil shocked the world, higher trading volumes and market volatility followed.
Monday: The start of the week was rough, with Oil futures contracts dropping below zero for the first time in history, to -$37.63. USA500 and TECH100 lost more than 1%, while USA30 shed 2.4%. The Asian and Australian markets also lost more than 1.2%. The European markets were the only ones who ended the session on positive, with UK100 and Germany30gaining each 0.2%.
Gold lost 0.32%.
Tuesday: the markets felt the impact of Oil. TECH100 drooped 3.48%, while USA500 lost 3.07%. The Pacific and European regions lost more than 1%. UK100 had the biggest lost – 3%. GBP/USD lost 0.02%.
Wednesday: Netflix released its Q1 earnings. The report was a positive one; it exceeded the analysts’ expectations for the most part, and set a record for its share price at $437.49.
Also, the US Senate passed another aid package worth $484 billion to help small businesses and the medical field. $25 billion are for COVID-19 testing only. If, for the first two days of the week, the indices lost, Wednesday, in pre-market, all the American benchmarks gained more than 1%.
The same thing can’t be said about France. Wednesday, the labor minister, Muriel Penicaud, announced that more than 10 million people are looking for unemployment benefits since the pandemic took over.
Thursday: Facebook announced its partnership with the Indian conglomerate Reliance Industries. The two will focus on facilitating the connection between businesses, shops, and people. Shares of both gained: Reliance Industries went up 0.3%, and Facebook increased by 3% after-hours.
Hermes posted its financial report for the first quarter of 2020. Its revenue dropped by 7.7%, while sales added to a total of €1.51 billion.
The weekly unemployment rate exceeded 20%. Gilead lost 5.3% after the trials of a potential vaccine against the novel virus failed.
Brent Oil recovered some of the losses and traded at $20.37. For the most part, American indices lost, while all the European ones gained at least 0.80% each.
Friday:The American benchmarks gained more than 1% each. Gold lost 0.6% to trade at $1,735.60.
ICE lost 0.1%.
Europe50 and UK100 lost more than 1% each.
The Russian Central Bank cut the interest rate for the seventh time in just one year, bringing it down to 5.5%.
USD/RUB traded higher by 0.8% after the announcement.
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Sources: marketwatch.com, forexlive.com, cnbc.com, reuters.com, nytime.com, investing.com
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