There could be targeted stimuli packages in the US - Wednesday Review, October 7

There could be targeted stimuli packages in the US - Wednesday Review, October 7

President Trump revised his decision of approving no stimulus package until after the presidential election

The US

After halting the talks regarding a new stimulus package, President #Trump announced that he would approve several smaller but targeted #stimuli packages. The focus was on the one meant for airlines. After the news, USA30 rose 1.91%, while USA500 went up 1.7%. TECH100 gained 1.88%.

Crude Oil fell 2.02% to $39.85 per barrel, while Brent lost 1.92% to trade at $41.83.

Gold lost 1% to $1,889.70 per ounce.


Asia and Australia

The benchmarks ended mostly higher; investor hope being driven by President Trump’s proposals of new fiscal stimuli. HongKong45 rose 0.47%.

Japan225 dropped 0.33%.

Down under, Australia200 was up 0.87% after the new government’s budget was released. It contains billions of dollars in domestic tax cuts and spending initiatives.

USD/JPY was up 0.24% to 105.88.


Europe

The markets were mixed after ECB President Christine Lagarde’s speech. She warned about the possibility that the long-touted V-shaped recovery won’t happen. Europe50 lost 0.12%. Germany30 gained 0.17%, while France40 climbed 0.4%.

EUR/USD was up 0.32% to 1.1771.

Sources: investing.com, marketwatch.com


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