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Markets took a breather from the November rally - Wednesday Review, December 2

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Miguel A. Rodriguez
Miguel A. Rodriguez
03 December 2020
Markets were divided between Pfizer’s vaccine and the rising number of COVID-19 infections

The US

The markets closed mostly higher, boosted by the hopes of a new stimulus package and Pfizer’s potential COVID-19 vaccine. USA30 and USA500 each rose 0.20%. TECH100 lost 0.05%.

Crude oil went up 0.1% to $44.52 per barrel.

Gold traded 0.6% higher at $1,830.20 per ounce.

 

Asia and Australia

The fact that the world could have a viable COVID-19 treatment by the end of the year didn’t faze the Asian and Australian markets. HongKong45 slipped 0.68% after new restrictions were imposed to curb the COVID-19 infections.

Japan225 fell 0.10%.

Down under, Australia200 closed 0.31% lower after the Reserve Bank of Australia announced that it would keep the interest rate unchanged, as expected.

 

Europe

On Wednesday, only the UK’s benchmark UK100 gained 0.1% after it announced that its regulators approved Pfizer and BioNTech’s COVID-19 vaccine for use. The treatment could be distributed as early as next week.

Europe50 was down 0.3%. Germany30 closed 0.4% lower, while France40 fell 0.3%.

Brent Oil lost 0.1% trading at $47.45 a barrel.

EUR/USD closed at 1.2051 after it went down 0.2%.

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.