US and Canada news on market decline amid market fluctuations amid market fluctuations

The global stock was spilling water and the dollar fell on Friday as investors hung in, waiting to see if a long-awaited agreement on the United States’ coronavirus relief package would finally be reached.

Speaker of the US House of Representatives Nancy Pelosi said it was still possible to get another round of COVID-19 aid before the election, but it was up to Republican President Donald Trump to talk to Senate Republicans if he wanted to Want to see it is physical.

But Treasury Secretary Steven Menuchin warned that only a deal would be possible if Pelosi agreed to a compromise.

“There is a waiting game for a stimulus package,” said Tim Griskey, chief investment strategist at Invertis Council in New York. “We continue to be irritated by reports of perceived progress and then those hopes are shattered.”

The Dow Jones Industrial Average lost 28.09 points, or 0.1 percent, to 28,335.57, the S&P 500 rose 11.90 points, or 0.3 percent, to 3,465.39. The Nasdaq Composite Index lost 42.28 points, or 0.4 percent, to close at 11,548.28.

For the week, the Dow was down 0.9 percent, the S&P 500 was down 0.5 percent and the Nasdaq was down 1.1 percent.

Chipmaker Intel Corp on Friday had the largest weight of 10.6 percent among the three indices, as it reported a decline in margins as consumers bought cheaper laptops and epidemic-hit businesses and governments closed on data center spending.

The dollar was 0.2 percent lower against a basket of currencies, leaving it at a seven-week low and set to fall by nearly one percent in the week, weighing uncertainty ahead of the November 3 election.

Trump supersedes Democratic former Vice President Joe Biden in national opinion polls, but the fight is too tight in some battlegrounds where elections are likely.

The final debate between Trump and Biden on Thursday provided some surprises and a little new direction.

European stocks fared better, with positive earnings updates from Barclays and a surge in Airbus leading to positive growth, but markets worrying about the growing economic effects of COVID-19 cases saw their biggest weekly in a month The decline was recorded.

Breaking the four-day losing streak, with the pan-European STOXX 600 index gaining 0.6 per cent, London’s FTSE 100 outpaced its European peers when Barclays jumped 7 per cent on strong results.

In the Asia-Pacific region, MSCI’s largest index of area stocks outside of Japan was flat, while Japan’s Nikkei stood at 0.2 percent and mainland China’s CSI300 index stood at 1.3 percent.

The MSCI World Index, which follows stocks in nearly 50 countries, was up 0.3 percent, but was set for its biggest weekly decline in a month.

The pound fell against the dollar and the euro on Friday after the United Kingdom Purchasing Managers’ Index (PMI) hit a four-month low, but was set to end the week after the new phase of Brexit resumed. .

Chief negotiators from the UK and the European Union on Friday negotiated a final-trade deal to end the five-year Brexit crisis.

The pound was down 0.4 percent at $ 1.3031 on the day, but by 0.9 percent on a weekly basis. The euro gained 0.3 percent against the dollar.

An official of China’s foreign exchange regulator said the Chinese yuan has also held its ground against the dollar, keeping it more stable than expected, suggesting officials are not too concerned about its recent rise.

Oil prices fell about concerns over Libyan crude oil supply and demand as Coronovirus cases increased in the US and Europe. Brent futures lost 69 cents, or 1.63 percent, to close at $ 41.77 a barrel. US crude futures lost 79 cents to close at $ 39.85 a barrel.

The fall in the dollar caused gold to fall, but uncertainty in US elections limited bullion losses.


Leave a Reply