The so-called “stock market bloodbath” has continued on Friday with major indices falling down to the lows of the last October. What's going on?
Wall Street ascends on soaring US GDP
Information is not investment advice
On Friday, Wall Street managed to add because the American economy expanded at the highest tempo for the last four years.
The S&P 500 ascended by 0.08% being worth 2,839.75, the Dow gained 0.05% hitting 25,539.55, while the tech heavy NASDAQ Composite soared by up to 0.12% trading at 7,861.89.
In the second quarter the American economy speeded up as anticipated, thus giving the key US bank grounds to gradually lift interest rates.
In the second quarter, GDP came up with a seasonally-updated annual surge rate of about 4.1%, which is the fastest pace since the third quarter of 2014.
Twitter Inc went down by nearly 3.65% right after its monthly active users decreased in number more than anticipated. Intel headed south abou8t 6.97% having reported slower than anticipated sales surge to data centers and also having postponed the publication of its next-gen processors until the end of 2019. At the same time Exxon Mobil headed south by 2.74% because its profits confounded hopes.
Amazon.com managed to ascend about 3.13% due to the fact its operating revenue surpassed experts’ expectations. At the same time, Advanced Micro Devices Inc soared by 5.44%, Chipotle Mexican Grill ascended by 5.87%.
In addition to this, in the European Union, equities generally ascended. The DAX soared by up to 0.35% in Germany. The CAC 40 soared by 0.27% in France. The FTSE 100 rallied by 0.54% in London. Besides this, the Euro Stoxx 50 added 0.38% and the IBEX 35 jumped by 0.67% in Spain.
As for commodities, gold futures went down about 0,24% being worth $1,222.70 a troy ounce. At the same time, crude futures slumped by 0.43% hitting $69.31 a barrel.
Evaluating the major American currency’s purchasing potential against its main rivals, the USD index headed south by 0.10% trading at 94.48.
UK Prime Minister was placed in the intensive care. As a result, the British pound plummeted dramatically today.
Coronavirus pushes to recession countries one by one. This time it gets to Japan, known as one of the world’s hardest working nation.
Canadian jobs data will be announced on Thursday at 15:30 MT time.