Major Indices rallied and ended up higher as market closed, even though everyone is busy monitoring the US Presidential Election results. US Presidential Election 2020 voting is done and is awaiting for result whether current President Donald Trump will remain or Democrat Finalist Joseph Biden will triumph. Biggest contributor on today’s market are Tech related shares, dragging most Stocks higher with Nasdaq Composite leading the session with almost 4% gains. Treasuries are down together with Gold but crude oil remained strong. Here are the rest of the movements in the Stock Market this Wednesday; Stocks S&P 500 rose for the third day this week and is up about 74.28 points or is 2.20% higher to 3,443.44.The Dow Jones Industrial Average has also increased around 367.63 points or 1.34% to 27,847.66.Nasdaq Composite outperformed leading the market with 430.21 points gains or is 3.85% higher to 11,590.78.The MSCI All-Country World Index jumps up about 1.9% to 579.11.The Stoxx Europe 600 Index gained around 2.1% to 363.31. Bonds The yield on the benchmark 10-year Treasury note dropped about 9 basis points to 0.766%.The yield on the 30-year Treasury bond is also down losing around 10 basis points to 1.560%.The yield on two-year Treasuries slid a bit with two basis points and is down to 0.14%.Germany’s 10-year yield loss around two basis points to -0.64%. Commodities Gold weakened for the first time this week with 9.26 points loss or is less than 1% down to $1,904.90 an ounce.Silver has also declined less than 1 point or 2.08% to $23.92 an ounce.West Texas Intermediate crude rose about 1.49 points or is less than 4% higher to $39.15 per barrel.Brent crude is up with a few points to $41.21 per barrel. Currencies US Dollar Currency Index is down by 1.16% to 93.407 per dollar.The euro was little changed at $1.1717, its strongest yet in about week.The Japanese yen has no to little change to 104.52 per dollar. For more financial related news and advisors… keep browsing, and if you have questions and inquiries please do contact us via email.
What a difference a year makes! Twelve months ago, we’d just witnessed the stock market’s vicious twists and turns of 2018’s 4th quarter and the resulting market losses. This year, in contrast, we’ve followed record market highs from 2019 with strong returns in early January.
Economic growth slowed during 2019’s 3rd quarter as measured by various economic yardsticks. Manufacturing and factory activity slowed to a ten-year low, and growth in our economy’s services sector fell to a three-year low for the month of September.
As Erik Ristuben noted, 2019’s second quarter had its ups and downs. In April, the S&P 500 Index was up 4.0% when including dividend payments. In May, the S&P 500 was down 6.4%. And in June, the Index was up 7.0% which brought the S&P 500 Index up 4.3% for the entire second quarter.
When does the next recession arrive? Not for another year and a half, according to Gradient Investments’ Mariann Montagne. While there are many other answers to that question, the actual answer depends on the economic trends and data that will be forthcoming over the next several months, or years. Job growth trends, consumer spending levels, new housing starts,
