Singapore Stock Market News

Market Commentary: Risk-on sentiment takes a step back

StockFanatic
Publish date: Fri, 24 Jul 2020, 01:36 PM
StockFanatic
0 10,452
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
·           US equities closed lower after an unexpected rise in jobless claims rekindled concern the economic recovery has stalled. Growing signs of a worsening coronavirus pandemic also gave rise to fear that it could exacerbate the economic recession.
·           All three major US stock averages lost ground, with falling momentum in stocks like Apple Inc, Microsoft Corp and Amazon.com. The Nasdaq closed lower by 244.71 points or 2.29% to 10,461.42, practically wiping out the gains for the week. The Dow Jones Industrial Average fell 353.51 points, or 1.31%, to 26,652.33, the S&P 500 lost 1.23%, to 3,235.66.
·           Earnings report was a mixed bag. Microsoft dropped 4.3% after reporting its cloud computing business' first-ever quarterly growth under 50%. Tesla Inc reported a profit for the fourth straight quarter, setting the company up for inclusion in the S&P 500. But the stock slid as analysts questioned whether the electric automaker's stock price matched its performance.
·           US jobless claims unexpectedly ticked higher to 1.416 million last week even as Congress works to pass new stimulus to sustain consumer spending.
·           Workers being sent home are joining a second wave of layoffs, triggered by lack of demand as the economy battles a recession, which started in February. Bankruptcies are rising in the retail sector.
·           European shares erased earlier gains made on strong regional earnings reports. Consumer confidence deteriorated in July despite expectations of an improvement. Europe has managed to reopen its economy without suffering from a second wave of the virus. The euro gained 0.2% to $1.1593, reaching the strongest in more than 21 months on its fifth consecutive advance.
• Access to over 8464 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