Singapore Stock Market News

Market Commentary: Lockdown fears stall stocks

StockFanatic
Publish date: Thu, 25 Jun 2020, 02:02 PM
StockFanatic
0 10,453
Welcome to Stockfanatic Singapore stock market and regional market news. This is a platform to share Singapore stock market and regional news to investors / man in the street. Investors can also look forward to analyst reports and brokers recommendations. Stockfanatic's Singapore stock market and regional news blog, home of investors one stop news station.
Following Message
·           Intensifying fears of officials having to reinstate lockdown measures around the country saw US indices suffer their biggest daily percentage drop in almost two weeks. Nasdaq, which had registered its fifth record closing high on Tuesday, snapped an eight-day winning streak, which was its longest since December 2019.
·           The resurgence in cases led to markets discounting earlier optimism. The Dow Jones Industrial Average fell 710.16 points, or 2.72%, to 25,445.94, the S&P 500 lost 80.96 points, or 2.59%, to 3,050.33 and the Nasdaq Composite dropped 222.20 points, or 2.19%, to 9,909.17.
·           The S&P 500 finished the session about 10% under its 19 Feb closing record high while the Dow Jones Industrials was about 14% from its 12 Feb record close. Wall Street's fear gauge, the CBOE volatility index, closed 2.47 points higher at 33.84.
·           The United States has recorded the second-largest rise in infections since the health crisis began, with a flare-up of cases in states where restrictions meant to contain the disease were lifted early. The pandemic appeared to be causing wider and deeper damage to economic activity than first thought. The IMF said it now expects global output to shrink by 4.9%, compared with a 3.0% contraction predicted in April. Advanced economies have been particularly hard hit, with US output now expected to shrink 8.0%, more than two percentage points worse than the April forecast.
·           The US is taking the trade war transatlantic, weighing new tariffs on US$3.1 billion of exports from France, Germany, Spain and the UK. The news affected European markets as well.
·           Asian equities are set to open on a damp note, based on index futures. The data docket is thin for today. The Philippines central bank is expected to hold interest rates unchanged. New Zealand reports trade data and Australia releases figures on job vacancies.
·           Markets are closed in China, HK and Taiwan for local holidays.
• Access to over 7788 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.
More articles on Singapore Stock Market News
Market Commentary: Record highs on trade, vaccine developments

Created by StockFanatic | Aug 26, 2020

Market Commentary: Record highs on trade, vaccine developments

Created by StockFanatic | Aug 26, 2020

Market Commentary: Data help US market end week on a high note

Created by StockFanatic | Aug 24, 2020

Market Commentary: Data help US market end week on a high note

Created by StockFanatic | Aug 24, 2020

Market Commentary: And they are back, with S&P within inches of record high close

Created by StockFanatic | Aug 13, 2020

Market Commentary: And they are back, with S&P within inches of record high close

Created by StockFanatic | Aug 13, 2020

Market Commentary: Winning streak snaps

Created by StockFanatic | Aug 12, 2020

Market Commentary: Winning streak snaps

Created by StockFanatic | Aug 12, 2020

Market Commentary: US negotiations over stimulus continue amid diplomatic tensions

Created by StockFanatic | Aug 11, 2020

Market Commentary: US negotiations over stimulus continue amid diplomatic tensions

Created by StockFanatic | Aug 11, 2020

Discussions
Be the first to like this. Showing 0 of 0 comments
Post a Comment