Singapore Stock Market News

Author: StockFanatic   |   Latest post: Wed, 26 Aug 2020, 1:02 PM


Market Commentary: Winning streak snaps

Author:   |    Publish date:

·           The S&P 500 and the Dow snapped a seven-day streak of gains and fell on growing uncertainty about a stalemate in Washington over a fiscal stimulus pact.

·           US Senate Republican leader Mitch McConnell said that White House negotiators had not spoken on Tuesday with Democratic leaders in the US Congress on coronavirus aid legislation after talks broke down last week.

·           Investors have been hoping Republicans and Democrats will resolve their differences and agree on another relief programme to support about 30 million unemployed Americans, as the battle with the virus outbreak was far from over, with US cases surpassing 5 million last week.

·           The Nasdaq fell more than 1%, extending recent losses and registering its biggest daily percentage decline since 23 July, with investors continuing to shed technology-related market heavyweights in favour of value names.

·           The Dow Jones Industrial Average fell 104.53 points or 0.38% to 27,686.91, the S&P 500 lost 26.78 points, or 0.80% to 3,333.69 and the Nasdaq Composite dropped 1.69% to 10,782.82.

·           A meeting between top US and Chinese trade officials on Saturday to review the first six months of the Phase 1 trade deal is still on the cards. On the virus front, California reported a sharp jump in cases. New Zealand's main stock gauge lost more than 2% after evidence of new coronavirus cases in the country forced fresh restrictions.

• Access to over 8890 cross-asset publications and commentary delivering insights from global research and strategy teams.
• Easy-to-use search capabilities, with better and faster text-based searching.
Share this

  Be the first to like this.

I3 Messenger
Individual or Group chat with anyone on I3investor

132  98  170  703 

Top 10 Active Counters
 Jiutian Chemical 0.051+0.005 
 Sembcorp Marine 0.142-0.002 
 Singapore-eDev 0.062-0.001 
 Samko Timber 0.034+0.001 
 Avarga 0.26+0.015 
 AnAn Intl 0.033+0.004 
 Addvalue Tech 0.024+0.001 
 Rex Intl 0.146+0.003 
 SingTel 2.14+0.02 
 ThaiBev 0.5850.00