Investam-HK: Stocks finished higher on this week’s opening

May 13, 2020
Stock Market

It seems that stocks in the U.S. are gaining its pace on today’s market day after investors seeing the possibility of reopening the economy after the coronavirus outbreak. Three major stocks finished higher which lead other stocks greenish.

  • The Dow Jones Industrial Average finished up by 1.5% to 359 points.
  • The S&P 500 closed up 1.5%.
  • The Nasdaq Composite closed 1.1% higher.
  • The Stoxx Europe 600 Index climbed 1.8%.
  • The MSCI Asia Pacific Index advanced 2%.

Under commodities, Gold fell a bit by 0.8% to $1,716.15 per ounce. Oil prices are also down because of continues low demand and over supply of production.

  • West Texas Intermediate (WTI) crude is down by -24.56% to $12.78 per barrel as of this writing.
  • Brent crude is down by -6.76% to $19.99 per barrel.

Bonds and Treasuries quiet got an advance as Monday’s market closing. The yield on 10-year Treasuries increased six basis points to 0.66%, while the yield on the 30-year Treasury bond was up at 1.19%. Global treasuries also climbed today. Germany’s 10-year yield climbed two basis points to -0.45% and Britain’s 10-year yield advanced one basis point to 0.301%.

Global currencies gained a bit today. The euro rose 0.1% to $1.0832, while Japanese yen appreciated 0.3% to 107.24 per dollar. The U.S. dollar index is down by $99.66.

Amazons has extended the suspensions of its distribution centers in France possible until the 5th day of May 2020. The French court ordered Amazon may only sell essential goods until it had undertaken a risk assessment of protecting workers against Coronavirus.

Adidas net income on the other side got a struggling dropped by 97% and sales down by 19% this is because 70% of their stores around the world are closed due to the coronavirus pandemic.

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