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Global markets on their toes due to COVID-19 reinfections - Wednesday Review, August 26

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Miguel A. Rodriguez
Miguel A. Rodriguez
14 September 2020
Markets mixed ahead of Jerome Powell’s speech

The US

The benchmarks were in for a treat yesterday. The stocks were moved by gains in the tech sector, as Salesforce posted better-than-expected Q2 earnings, and FAANG (Facebook, Amazon, Apple, Netflix, and Google) gained more than 17%. USA30 rose 0.30%, while USA500 gained 1.03%. TECH100 added 1.73%.

Oil gained 0.04% to $43.39 per barrel. Brent Oil went up 0.5% at $45.64.

Gold settled up 1.5% at $1,952.50 per ounce, marking the first gain in a week. 


Asia and Australia

Investors’ caution over the spike in COVID-19 cases made the markets lose some steam. 

HongKong45 lost 0.20%, although the country expects the lockdown measures to relax. 

Japan225 edged down 0.20%.

Australia200 fell 0.92% after Victoria state reported 24 new COVID-19 deaths and 149 new cases. 

USD/JPY lost 0.08% and settled at 106.28. 


Europe

The markets were mixed yesterday, gains being caused by the touted speech of the US Federal Reserve Chairman Jerome Powell, while the losses appeared due to two confirmed cases of COVID-19 reinfection. 

Europe50 and France40 traded 0.1% higher. Germany30 rose 0.2%, while UK100 was down 0.2%.

EUR/USD lost 0.1% and traded at 1.1820.

Don’t miss out on anything! Check-out CAPEX.com for more market news!

Sources: investing.com, reuters.com


This information/research prepared by Miguel A. Rodriguez does not take into account the specific investment objectives, financial situation, or particular needs of any particular person. The research analyst primarily responsible for the content of this research report, in part or in whole, certifies that the views about the companies and their securities expressed in this report accurately reflect his/her personal views and consequently any person acting on it does so entirely at their own risk.The research provided does not constitute the views of KW Investments Ltd nor is it an invitation to invest with KW Investments Ltd. The research analyst also certifies that no part of his/her compensation was, is, or will be, directly, or indirectly, related to specific recommendations or views expressed in this report.The research analyst in not employed by KW Investments Ltd. You are encouraged to seek advice from an independent financial adviser regarding the suitability of the investment, under a separate engagement, as you deem fit that conforms to your specific investment objectives, financial situation, or particular financial needs before making a commitment to invest. The laws of the Republic of Seychelles shall govern any claim relating to or arising from the contents of the information/ research provided. 

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Miguel A. Rodriguez
Miguel A. Rodriguez
Financial Writer

Miguel worked for major financial institutions such as Banco Santander, and Banco Central-Hispano. He is a published author of currency trading books.