COVID-19 took over the markets - Wednesday Review, July 8

COVID-19 took over the markets - Wednesday Review, July 8

Wall Street overlooks the pandemic. The rest of the world is sinking.

The US

The markets put behind the record spikes in the number of new cases, and focused on the weak, but still there, economic rebound. USA30 added 0.68%, while USA500 gained 0.78%. The technological sector went up the most, making TECH100 end the day higher by 1.44%.

Brent Oil dropped 0.12% to $43.23, while Oil lost 0.20% to $40.82.

Gold ended yesterday’s trading session trading at $1,820.0 after it gained 0.6%.

The Dollar Index was up 0.1% at 96.873.


Asia and Australia

Asian stocks were lower yesterday, as the rising number of infections unsettled the markets. Japan225 lost 0.78%.

USD/JPY slipped 0.04% to 107.47.

HongKong45 was down 0.06%, as the city goes through the third wave of infection.

Down Under, ASX dropped 1.54% after Melbourne re-imposed the lockdown measures to contain the rise of COVID-19 cases.

AUD/USD lost 0.11% to 0.6938.


Europe

The fear caused by the new increase in the number of infections reached Europe. The continental benchmark, Europe50, lost 0.4%.

UK100 fell 0.4%, after a package of measures worth $2.5 billion was announced by Chancellor Rishi Sunak.

France40 went down 1.24% as foods & drugs, general financial, and water & gas sectors underperformed.

Germany30 declined by 0.97%.

EUR/USD gained 0.59% to 1.1336.

EUR/GBP added 0.12% to 0.8995.

GBP/USD went up 0.4% to $1.2592.

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Sources: reuters.com, marketwatch.com, investing.com

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