The vaccine setback pushed the markets lower - Tuesday Review, October 13

By: Miguel A. Rodriguez

11:13, 14 October 2020

Investors didn't enjoy the temporary halt in the progress of a COVID-19 vaccine

The US

The benchmarks disregarded the promising beginning of the latest earnings season and focused on the fact that another significant pharma company halted the trials of a potential #COVID-19 vaccine. USA30 fell 0.55% while USA500 was down 0.61%. TECH100 slipped 0.10%.

Crude Oil and Brent gained 0.4%, ending the session at $39.56 per barrel and $41.88. 

Gold lost 1.8% to $1,894.60 per ounce.

The Dollar Index rose 0.5% to 93.55.

 

Asia and Australia

Japan225 lost 0.07% amid the hiccup in the trials of a potential COVID-19 #vaccine from Johnson & Johnson.

Down under, Australia200 gained 1.18%, after the country is seeking to resolve the ban imposed by China on the Australian coal imports.

USD/JPY gained 0.24% to 105.55.

 

Europe

Germany30 and UK100 lost 0.4% each. France40 fell 0.5%. The drop was caused by the fact that the new wave of infections could negatively impact the ongoing economic recovery.

EUR/USD traded at 1.1785 after it lost 0.2%.

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.