US stock benchmarks mostly rose early Monday with S&P 500 index trading near record territory, but some reason to trade somewhat amid congressional deadlock over fresh incentives to help Americans and businesses hurt by the coronovirus epidemic To find
How are the major indexes doing?
Dow Jones Industrial Average DJIA,
Was trading 47 points, or 0.1%, at a low of around 27,893, with a fall Boeing Co. B. A,
And Goldman Sachs Group Inc. Gs,
S&P 500 Index SPX,
Climbed 12 points to 3,385, up 0.4%, at or near its record closing peak at 3,386.15. Meanwhile, the Nasdaq Composite Index Comp,
An increase of 84 points, or 0.8%, to 11,103.
What is driving the market?
The lack of catalysts for the stock to market participants was increasing to a large extent, which some strategists said could potentially have a slowing pace as Wall Street chiefs, when the volume of headings would have risen in the declining part of summer Is when the trading volume becomes lighter.
The S&P 500 is failing a breakout of its all-time high. Traders believe that if the price continues here, it is likely that sentiment may be bearish, “Naeem Aslam, chief market analyst at AvaTrade, wrote in a note.”
After $ 600 a week in unemployment aid at the end of last month, COVID-19 moves to the equity market against failed negotiations between concentrated Democrats and Republicans to pursue a new package of aid to help workers affected by the pandemic Come.
Investors suspect that a V-shape, or quick and powerful, recovery can be achieved without new help for those without work, but the market’s steep ascent also suggests that bets are being made that eventually There will be an agreement.
Meanwhile, according to data compiled by Johns Hopkins University, the US reported more than 42,000 new COVID-19 cases on Sunday, a sharp decline of more than 64,000 on Friday. However, the country’s total number of cases has crossed 5.4 million, a quarter of the total worldwide.
On Monday, New Zealand, where many outbreaks of the epidemic were under control, put a third of voters in lockdown a month after the outbreak in Auckland.
The regional Fed Bank said on Monday that in the Economic Report, trading conditions in the New York region fell 13.5 points to 3.7 on the Empire State Index in August. According to a survey by Econody, economists expected 17 to be read. The index had fallen into a negative state in July since the epidemic began.
Separately, a report on home-builder Faith was much stronger than expected, coming out slightly earlier than the Eastern release scheduled for 10 a.m. Monday. Builder Confidence in the newly created, single-family home market raised six points to 78 in August on the National Association of Home Builders / Wells Fargo Housing Market Index, with the reading at a record high for the report. Builder sentiment dropped to 30 in April. A reading above 50 is considered excited.
Which stocks are in focus?
- Stock of tesla inc
Climbing 7.2% on Monday, they were on track to open in record territory, with analyst Dan Ives at Weinbush raising his price target from $ 1,800 to $ 1,900, signaling a boom in demand in China.
- Shares of Nvidia corp. NVDA,
A record increase of 5.6% compared to Monday, after Susquehanna analyst Christopher Roland raised his price target from $ 450 to a street high of $ 540.
- Shares of JD.com Inc.
Active customer accounts showed steady improvement as it rose 2.9% on Monday, after the China-based e-commerce company posted higher-than-expected profit and revenue in the second quarter.
- Domino’s Pizza Inc.. DPZ,
On Monday, it said it would hire 20,000 new employees across the country including assistant managers, customer service representatives and pizza makers. The shares gained 1.7% on Monday.
How are other markets trading?
Monday trade in Asia, China’s CSI 300 index 000300,
Hong Kong’s Hang Seng Index HSI closed 2.4% higher.
Advanced 0.7% and Japan’s Nikkei 225 NIK,
Declined by 0.8%.
In Europe, Stoxx 600 Europe Index SXXP,
Traded 0.3% higher. FTSE 100 UKX,
Was climbing 0.7%.
TMUBMUSD10Y, yield on 10-year Treasury note
It was 2.6 basis points off at 0.685%. Bond prices are the opposite of yields.
GCZ20 led gold prices higher for December delivery,
1.2%, trading at $ 1,973.20 per ounce. Crude oil prices CLU20,
Decreased by 0.2%, which was more pressing than concerns for demand, at $ 41.91 per barrel.
ICE US Dollar Index, DXY,
The buck gauge was down 0.2% to 92.932 against a half-dozen major rivals.