Mixed day over stimulus hopes and COVID-19 - Wednesday Review, October 21

By: Miguel A. Rodriguez

11:49, 22 October 2020

A stimulus package could arrive before the US presidential elections

The US

The benchmarks closed higher after House Speaker Nancy Pelosi announced that the Democrats and the Republicans are starting to see eye to eye regarding the new stimulus package.

Snap’s Q3 earnings also boosted the markets. USA30 rose 0.07%, while USA500 gained 0.35%. TECH100 closed up 0.32%.

Crude Oil closed at $40.03 per barrel after it lost 4%. Brent was down 3.4% to $41.73.

Gold rose 0.4% to $1,929.50 per ounce.

The Dollar Index lost 0.5% to settle at 92.46 – a seven-week low.


Asia and Australia

Japan225 gained 0.48% after the US markets showed optimism about the new stimulus package.

HongKong45 closed 0.52% higher as the social distancing measures have been eased.

Down under, Australia200 inched up 0.10% after key economic data showed an 0.2% increase in retail sales figures.



The second wave of COVID-19 infections made various countries take measures to tackle the spreading process.

France imposed new curfews, while the UK has Manchester under "tier 3" lockdown.

The positive Q3 earnings from Ericsson didn't boost the markets. 

Germany30 traded 0.3% lower, while France40 fell 0.2%. UK100 closed 0.4% lower.

EUR/USD closed at 1.1854 after it gained 0.3%.

Sources: reuters.com, investing.com

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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.