The Dow Jones Industrial Average dropped 0.80% to 27463, and the S&P 500 fell 0.30% to 3390, while Nasdaq 100 rebounded 0.82% to 11598
On Tuesday, U.S. stocks closed mixed. The Dow Jones Industrial Average fell a further 222 points (-0.80%) to 27463, and the S&P 500 dropped 10 points (-0.30%) to 3390. Meanwhile, the tech-heavy Nasdaq 100 rebounded 94 points (+0.82%) to 11598 before big technology firms report results.
The While House hinted that a fiscal stimulus deal is unlikely before the November 3 election.
Retailing (+1.16%), Media (+0.84%) and Technology Hardware & Equipment (+0.81%) sectors performed the best, while Banks (-2.73%), Capital Goods (-2.6%) and Automobiles & Components (-2.09%) sectors lagged behind. Harley-Davidson (+22.07%) became the top gainer after its quarterly results beat market expectations.
Semiconductor designer Advanced Micro Devices (-4.07%) said it has agreed to buy Xilinx (+8.56%) in a $35 billion all-stock deal.
Approximately 70% of stocks in the S&P 500 Index were trading above their 200-day moving average and 42% were trading above their 20-day moving average.
The VIX Index, Wall Street’s fear gauge, charged 0.89 point higher (+2.74%) to 33.35.
In after-market hours, Microsoft declined over 1% despite reporting better-than-expected results.
Regarding U.S. economic data, Durable Goods Orders jumped 1.9% on month in September. The Conference Board Consumer Confidence Index unexpectedly declined to 100.9 in October.
U.S. Treasury prices extended their rally, as the benchmark 10-year Treasury yield sank further to 0.776%.
Spot gold rose $5 (+0.27%) to $1,907 an ounce.
U.S. WTI crude futures (December) jumped $0.90 (+2.33%) to $39.46 a barrel.
On the forex front, the U.S. dollar held its strength against other major currencies. The ICE Dollar Index edged up to 93.09.
EUR/USD lost the key 1.1800 level as it eased 0.12% to 1.1795, while USD/JPY failed to regain the 105.00 level sliding 0.40% to 104.41.
GBP/USD added 0.15% to 1.3044, and AUD/USD edged up to 0.7128 from 0.7123 in the prior session.
USD/CAD retreated 0.21% to 1.3184. Canada’s central bank will discuss interest rates later today and is expected to hold its key rate unchanged at 0.25%.
Meanwhile, the Turkish lira hit a record low of 8.2050 against the U.S. dollar, as investors were worried about rising inflation in Turkey.
This article is for information purposes only.
Please remember that financial investments may rise or fall and past performance does not guarantee future performance in respect of income or capital growth; you may not get back the amount you invested.
There is no obligation to purchase anything but, if you decide to do so, you are strongly advised to consult a professional adviser before making any investment decisions.