Financial Markets Daily Report02 octubre 2020
Investors traded in a mixed mood yesterday, as the S&P 500 gained 0.5%, the Eurostoxx50 edged up 0.02%.
- Investors traded in a mixed mood yesterday, as the S&P 500 gained 0.5%, the Eurostoxx50 edged up 0.02%.
- In Europe, Eurostat released data showing a slight increase in the unemployment rate from 8.0% to 8.1% in August as governments start paring down their short-time work schemes. Sovereign bond yields fell in all major countries, with the largest fall occurring in Italian 10-year bonds, which fell 5bp. The euro slightly appreciated against the dollar.
- In the U.S., the tech-heavy Nasdaq Composite gained 1.4%, led by major tech companies such as Amazon, Microsoft and Tesla. U.S. lawmakers are still attempting to work out the details of another round of fiscal stimulus, but many observers have expressed doubts about a compromise being reached soon.
- Futures for the S&P 500 fell by 2% after Donald Trump announced that he and the first lady had tested positive for Covid-19 and would quarantine less than a month before the presidential election.