Log in
E-mail
Password
Remember
Forgot password ?
Become a member for free
Sign up
Sign up
New member
Sign up for FREE
New customer
Discover our services
Settings
Settings
Dynamic quotes 
OFFON

MarketScreener Homepage  >  News

News :
Latest NewsCompaniesMarketsEconomy & ForexCommoditiesInterest RatesBusiness LeadersFinance Pro.CalendarSectors 

Wall Street falters amid Rising US-China Tensions and Greenback Sell-Off

share with twitter share with LinkedIn share with facebook
07/28/2020 | 10:12am EDT

Week from 20 to 26 July 2020

24.7.20 Global Flows Map

Week from 20 to 26 July 2020

US stocks wavered as investors showed caution after a dramatic escalation in tensions between the world’s two biggest economies, a jump in jobless claims (+1.416 million last week) and some weakness in the largest technology companies.

China indeed ordered the closure of the American consulate in Chengdu, retaliating against Washington’s move earlier this week to shut down the Chinese consulate in Houston (Texas).

The S&P 500 was down 0.28%, the Dow Jones Industrial Average slumped 0.76%, while the Nasdaq Composite fell 1.33% as mega-cap tech was again under pressure. Shares in Apple therefore tumbled by over 3.85% after Goldman Sachs questionned the stock price. Facebook also dragged the index lower, losing 4.9% week-over-week but the worst performance came from Intel (-15.68%) after the company announced its next-generation chips (7nm CPUs) will be delayed.

As a result, information technology was the biggest laggard (-1.54% WTD) among the S&P sectors, just before communication services (-1.14%) and health care (-0.74%). The rotation between the recent winners and losers is still underway. Thus financials (+1.25%), consumer staples (+0.81%) and materials (+0.53%) exhibited their fourth winning week in a row.

European equity markets closed lower (MSCI EMU down -1.30%) though EU leaders reached a deal on the coronavirus recovery package after marathon talks. Asian markets finished the week with mixed results (Shanghai Composite: -0.54%, S&P/ASX 200: -0.16%, KOSPI unchanged, NIKKEI 225: + 0.24%, and NIFTY 50: +2.68% as market sentiment was boosted by Finance Minister Nirmala Sitharaman who promised more policy interventions to revive the economy).

On the interest rate front, the yield on the 10-year US T-notes inched down from 0.64% to 0.59% while the 10-year Bund remained unchanged at -0.47%.  Credit markets continued to rally across the globe: fourth week in the green for IG corporate bonds (+0.41% in Europe, +1.34% in the US) and high yield bonds (+0.85% in Europe, +1.52% in the US). Emerging debt followed the same trend (+1.24% in local currencies).

Helped by a very weak US dollar (EUR-USD : +1.78% WTD at 1.1626), gold temporarily breached $1,900/Oz before closing at a new all-time high ($1,897, i.e. +4.83% WTD).

Find the full report here: https://www.trackinsight.com/en/weekly-flow-report/2020-07-24/global

Download the TrackInsight 2020 Global ETF Survey. 

24.7.20 Global Weekly Flows
24.7.20 Global Weekly Performance
24.7.20 Global Winner Losers

Stocks mentioned in the article
ChangeLast1st jan.
APPLE INC. -0.09% 459.63 Delayed Quote.56.66%
DJ INDUSTRIAL 0.12% 27931.02 Delayed Quote.-2.13%
EURO / US DOLLAR (EUR/USD) -0.01% 1.184 Delayed Quote.5.38%
FACEBOOK -0.02% 261.24 Delayed Quote.27.28%
INTEL CORPORATION 0.68% 48.89 Delayed Quote.-18.31%
KOSPI COMPOSITE INDEX -0.87% 2407.72 Real-time Quote.9.49%
NASDAQ 100 -0.12% 11164.446946 Delayed Quote.27.84%
NASDAQ COMP. -0.21% 11019.300969 Delayed Quote.22.81%
NIKKEI 225 0.17% 23289.36 Real-time Quote.-1.55%
S&P 500 -0.02% 3372.85 Delayed Quote.4.42%
S&P/ASX 200 0.58% 6126.2 Real-time Quote.-8.35%
S&P/CITIC 300 INDEX 0.02% 4086.93 Delayed Quote.15.04%
S&P/CITIC 50 INDEX 0.02% 3969.33 Delayed Quote.6.22%
THE GOLDMAN SACHS GROUP, INC. -0.20% 207.97 Delayed Quote.-9.37%

© www.trackinsight.com 2020
share with twitter share with LinkedIn share with facebook
Latest news
12:51pHONDA MOTOR : Andretti puts 2 cars at the front of Indy 500 qualifying
AQ
12:01pLaw Offices of Howard G. Smith Continues Investigation of ECMOHO Limited Investors (MOHO) on Behalf of Investors
PR
12:01pTHE LAW OFFICES OF FRANK R. CRUZ : Announces the Filing of a Securities Class Action on Behalf of Cabot Oil & Gas Corporation (COG) Investors
BU
12:00pMANCHESTER UNITED : Solskjaer out to avoid hattrick of semifinal pain for United
AQ
11:58aPRESIDENT OF UNITED STATES : Statement by the President Regarding the Enhanced Defense Cooperation Agreement with the Republic of Poland
PU
11:48aICICI BANK : For viewing voting results of the General Meeting Click here
PU
11:41aROGERS COMMUNICATIONS : Minister says telecom regulator may have erred with wholesale rate decision
AQ
11:40aPassion Venture Capital (PVC), a MAS Registered Fund Management Firm Launches Innovative and Lucrative SGD100 Million Regional Food Business Fund in Partnership with OURBOSS Pte Ltd, a Singapore-based Company with a Regional Footprint
NE
11:33aRosen Law Firm Announces Filing of Securities Class Action Lawsuit Against Cabot Oil & Gas Corporation – COG
BU
11:15aCoronavirus Lockdown Tested Internet's Backbone
DJ
Latest news