A positive comeback for both S&P 500 and the Dow Jones Industrial Averages indexes, rally this Tuesday has dragged them down. Investors discarded other indexes for technology related indexes which made Nasdaq Composite to a new record breaking high this second quarter of 2020.
Nasdaq Composite, which includes FAANG, Microsoft (MSFT) and Tesla (TSLA), but what caught the investors eyes in Nasdaq are the tech giants like Facebook (FB), Apple (AAPL), Amazon (AMZN), Netflix (NFLX) and Google owner Alphabet (GOOGL) which is making its lead to the lives of many in this current situation. Investors are hoping for more sales and earnings because they knew that the technology will be the main source of the economy in this pandemic.
Stocks
- The Dow Jones Industrial Average fell by 300 points.
- The S&P 500 dipped 0.78% after turning positive briefly yesterday.
- Nasdaq Composite breaks new record high hitting 10,002.5 rose by 0.3%.
- The MSCI Asia Pacific Index rose 0.7%.
- The Stoxx Europe 600 Index fell 1.2%.
Bonds
- The yield on 10-year Treasuries decreased five basis points to 0.82%.
- The yield on the 30-year bond was down nine basis points at 1.56%.
- The yield on the 2-year bond declined by .193%.
- Germany’s 10-year yield climbed one basis point to -0.31%.
- Britain’s 10-year yield is up by less than one basis point to 0.336%.
Gold index and Oil prices both strengthened as market closed today. US Dollar Currency Index (DXY) marked its ninth day negative by $95.86 per share, while Euro and Yen increased by 0.4% by $1.334 and 0.6% to $107.76 respectively.
- West Texas Intermediate crude increased 1.6% to $38.80 a barrel.
- Brent crude rose by 0.93% to $41.18 per barrel.
- Gold climbed 0.9% to $1,720 an ounce.
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