HomeContributorsFundamental AnalysisMARKET WRAP: Stocks Declined; Gold Fell Below $1,500

MARKET WRAP: Stocks Declined; Gold Fell Below $1,500

*Stocks suffered modest losses; bond yields in recovery mode *Johnson not willing to delay Brexit again

Stocks

  • The S&P 500 Index was pushed lower due to the broad weakness in major sectors such as healthcare, tech and finance. The index fell 0.69% at 15:30 London time; the Nasdaq 100 lost 0.94% of its value.
  • The Stoxx Europe 600 Index reacted to poor Italain industrial production number and fell 0.30%.
  • The U.K.’s FTSE 100 Index declined 0.03% and made a low of 7199.
  • The MSCI Emerging Market Index decreased by 0.02%.

Currencies

  • The Dollar Spot Index climbed another 0.08% to 98.35.
  • The Euro traders preferred to stay on the side lines ahead of the upcoming ECB bazooka. The currency dropped 0.22% against the dollar.
  • The British pound fluctutated, but remained mostly positive. The GBP/USD pair gained 0.15%  on the back of better than expected average earning data
  • The Japanese yen suffered more losses and lost 0.18% to 107.24 per dollar.

Bonds

  • The yield on 10-year Treasuries moved higher by five basis points to 1.65%.
  •  Britain’s 10-year yield moved to 0.620%.

Commodities

  • Gold price moved below the critical mark of $1,500. It dropped by 0.55% to $1,496 an ounce.
  • WTI continued its upward trend and moved higher by 0.98% to $58.42 a barrel.
ThinkMarkets
ThinkMarketshttps://www.thinkmarkets.com/
ThinkMarkets® is a leading broker offering Spread Betting and CFDs on Forex, Indices, Metals and Commodities. With headquarters in London, Melbourne and China, ThinkMarkets® core service includes competitive spreads, free access to charting tools, an award-winning in-house built platform (ThinkTrader™) and multi-lingual customer support 24/6. Derivative products are leveraged products and can result in losses that exceed initial deposits. Please ensure you fully understand the risks and take care to manage your exposure.

Featured Analysis

Learn Forex Trading