Dollar creeps higher as virus worries return By Reuters


© Reuters.

By Tom Westbrook

SINGAPORE (Reuters) – The dollar found a footing on Wednesday as investors returned to safe-havens, unwinding some risk currency gains made on hopes the coronavirus crisis in Europe and New York was slowing.

The greenback rose on most majors besides the safe-haven Japanese yen, a day after suffering its worst drop against a basket of currencies in nearly two weeks.

Safe-haven gains were slight but gathered pace in morning trade as the two-day rally in Asia’s equity markets lost steam and bonds and gold firmed. [MKTS/GLOB]

The U.S. currency rose most against the risk-sensitive Australian and New Zealand dollars, gaining about 0.5% on each to sit at $0.6142 per and $0.5951 per . [AUD/]

“Risk aversion and the U.S. dollar are going hand in hand,” said Ray Attrill, head of FX strategy at National Australia Bank in Sydney.

“Improvement has been based on less-bad statistics coming out of various parts of the world…but our view is that markets are going to remain choppy – we can’t expect an uninterrupted flow of singularly good or singularly bad news.”

The dollar edged 0.1% lower to 108.55 yen . It rose a fraction against the British pound to $1.2321 and euro () to $1.0878.

The Aussie was also knocked by ratings agency S&P downgrading the outlook on the sovereign AAA rating from stable to negative.

New York overnight reported 731 fatalities from COVID-19, the respiratory disease caused by the virus, the sharpest single-day spike, but state Governor Andrew Cuomo drew hope from an apparent levelling off in the number of hospitalisations.

Across the Atlantic, British Prime Minister Boris Johnson, who has the illness, is in intensive care for a second night although his condition is stable.

Elsewhere in Europe, Spain’s daily toll of coronavirus deaths rose for the first time in five days, but officials there and across the continent pushed forward with plans to begin lifting some lockdown measures soon.

In Asia, the dollar rose 0.5% against the Korean won and lifted from a three-week low against the – rising 0.1% to 7.0730 yuan in offshore trade . [CNY/]

Investors are keenly watching as lockdowns lift in Wuhan, China, the epicentre of the pandemic, for clues as to how the rest of the world may fare when the worst has passed.

Authorities are walking a fine line between allowing greater freedom of movement and preventing a second wave of infection, with particular concern people who show no symptoms but can still pass on the virus.

Later on Wednesday, the U.S. Federal Reserve releases minutes from its emergency meeting last month, which may include more commentary on the depth of the economic contraction that looms.

“While the virus’ curve is flattening, the economic effects of the corona crisis will linger for years,” said Commonwealth Bank of Australia currency analyst Joe Capurso.

“Economies will take time to re‑open, some businesses will not re-open, and unemployment will take years to (recover).  We think that means the dollar and yen will re-strengthen.”

Graphic: World FX rates in 2020 https://graphics.reuters.com/GLOBAL-CURRENCIES-PERFORMANCE/0100301V041/index.html





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Coronavirus hopes propel stocks, euro higher


LONDON (Reuters) – World stock markets enjoyed a second day of sharp gains on Tuesday as signs of progress against the coronavirus in both Europe and the United States and more liberal helpings of stimulus kept investors charging back in.

FILE PHOTO: The German share price index DAX graph is pictured at the stock exchange in Frankfurt, Germany, April 6, 2020. REUTERS/Staff/File Photo

There was an added boost from commodity markets as oil climbed nearly 3% on supply cut hopes, while currency markets also came alive as a tumbling dollar saw the euro race out of a six-session rut of falls.

Equities was were the main action was however. Japan’s Nikkei followed up Wall Street’s 7% surge on Monday [.N] with a 2% jump as its government promised a near $1 trillion stimulus package – equal to a fifth of its GDP.

Europe quickly got in the swing of things too. The pan-European STOXX 600 index climbed over 3% as the respective markets in London, Frankfurt, Paris and Milan all bounded higher.

“A day does not a trend make, a week does not a trend make… but we think the market is bottoming out,” said Jeff Mortimer, Director of Investment Strategy at BNY Mellon Wealth Management.

“We are trying to get clients to understand that (in market performance terms) better times ahead can come more quickly then you expected.”

Worldwide, the virus has infected more than 1.3 million people and killed over 74,000, and though the numbers are still rising in many highly-populated countries, some tentative improvements have given hope.

In hardest-hit Italy and Spain, authorities have started looking ahead to easing lockdowns after steady falls in fatality rates. In the United States too, the daily number of deaths in the country’s worst-affected area, New York, has also shown signs of steadying.

The U.S. dollar, which has been soaking up safe-haven flows for weeks, slipped against most major currencies.

The euro shot up 0.7% to $1.0865 to snap a six-day run of falls, the pound climbed despite Britain’s Prime Minister remaining in intensive care, and the Australian dollar jumped over 1.5% to its highest in a week.

New Zealand’s dollar rose 1.3% too, while the Japanese yen shook off an early dip to clamber up to 108.92 per U.S. dollar. [/FRX]

It wasn’t only oil driving commodities markets higher either, copper punched up to a 3-week high with a 3% gain for industrial metals, while safe-haven gold wilted.

Benchmark 10-year U.S. Treasuries and German Bund continued to lose out too. U.S. yields – which move inverse to price – rose to 0.73% having fallen almost 9 basis points on Monday, and Bund yields were up 6-9 basis points across the curve.

The Eurogroup of finance ministers within the single euro zone currency bloc are scheduled to meet later on Tuesday, and analysts expect more joint action to help prop up the economies of member states.

Cyprus, one of the lower-rated countries in the bloc, is marketing a seven-year and 30-year bond issuance. In Asia Indonesia issued a 50-year bond.

“Investors have recently been detecting growing public support for the concept of coronabonds in European Commission and ECB circles,” said DZ Bank analyst Daniel Lenz, adding that German ECB Executive Board member Isabel Schnabel was among those who appeared to voice support.

Additional reporting by Abhinav Ramnarayan in London; Editing by Peter Graff



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France stocks higher at close of trade; CAC 40 up 0.33% By Investing.com


© Reuters. France stocks higher at close of trade; CAC 40 up 0.33%

Investing.com – France stocks were higher after the close on Thursday, as gains in the , and sectors led shares higher.

At the close in Paris, the added 0.33%, while the index added 0.44%.

The best performers of the session on the were Peugeot SA (PA:), which rose 4.26% or 0.48 points to trade at 11.86 at the close. Meanwhile, Bouygues SA (PA:) added 4.02% or 0.98 points to end at 25.35 and Publicis Groupe SA (PA:) was up 3.45% or 0.87 points to 26.06 in late trade.

The worst performers of the session were Dassault Systemes SE (PA:), which fell 5.10% or 6.75 points to trade at 125.70 at the close. Capgemini SE (PA:) declined 4.51% or 3.32 points to end at 70.30 and Accor SA (PA:) was down 4.05% or 0.97 points to 23.00.

The top performers on the SBF 120 were CGG SA (PA:) which rose 20.63% to 1.008, TechnipFMC PLC (PA:) which was up 15.40% to settle at 6.83 and Vallourec (PA:) which gained 15.10% to close at 1.170.

The worst performers were Natixis (PA:) which was down 11.74% to 2.27 in late trade, Quadient SA (PA:) which lost 9.03% to settle at 14.10 and SEB SA (PA:) which was down 7.31% to 107.70 at the close.

Falling stocks outnumbered advancing ones on the Paris Stock Exchange by 303 to 271 and 74 ended unchanged.

The , which measures the implied volatility of CAC 40 options, was down 6.57% to 41.85.

Gold Futures for June delivery was up 2.83% or 45.00 to $1636.40 a troy ounce. Elsewhere in commodities trading, Crude oil for delivery in May rose 24.32% or 4.94 to hit $25.25 a barrel, while the June Brent oil contract rose 22.23% or 5.50 to trade at $30.24 a barrel.

EUR/USD was down 1.10% to 1.0841, while EUR/GBP fell 0.98% to 0.8768.

The US Dollar Index Futures was up 0.61% at 100.360.

Disclaimer: Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. All CFDs (stocks, indexes, futures) and Forex prices are not provided by exchanges but rather by market makers, and so prices may not be accurate and may differ from the actual market price, meaning prices are indicative and not appropriate for trading purposes. Therefore Fusion Media doesn`t bear any responsibility for any trading losses you might incur as a result of using this data.

Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.



Denmark stocks higher at close of trade; OMX Copenhagen 20 up 3.57% By Investing.com


© Reuters. Denmark stocks higher at close of trade; OMX Copenhagen 20 up 3.57%

Investing.com – Denmark stocks were higher after the close on Monday, as gains in the , and sectors led shares higher.

At the close in Copenhagen, the added 3.57%.

The best performers of the session on the were Royal Unibrew A/S (CSE:), which rose 7.04% or 30 points to trade at 464 at the close. Meanwhile, Novo Nordisk A/S Class B (CSE:) added 5.77% or 22.1 points to end at 404.9 and Carlsberg A/S B (CSE:) was up 4.76% or 34.2 points to 753.0 in late trade.

The worst performers of the session were Pandora A/S (CSE:), which fell 1.56% or 3.4 points to trade at 214.6 at the close. Lundbeck A/S (CSE:) declined 1.08% or 2.1 points to end at 192.9 and Danske Bank A/S (CSE:) was down 0.86% or 0.6 points to 73.4.

Rising stocks outnumbered declining ones on the Copenhagen Stock Exchange by 83 to 50 and 16 ended unchanged.

Crude oil for May delivery was down 5.86% or 1.26 to $20.25 a barrel. Elsewhere in commodities trading, Brent oil for delivery in June fell 6.37% or 1.78 to hit $26.17 a barrel, while the June Gold Futures contract fell 0.56% or 9.25 to trade at $1644.85 a troy ounce.

USD/DKK was up 1.12% to 6.7767, while EUR/DKK rose 0.06% to 7.4681.

The US Dollar Index Futures was up 0.76% at 99.290.

Disclaimer: Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. All CFDs (stocks, indexes, futures) and Forex prices are not provided by exchanges but rather by market makers, and so prices may not be accurate and may differ from the actual market price, meaning prices are indicative and not appropriate for trading purposes. Therefore Fusion Media doesn`t bear any responsibility for any trading losses you might incur as a result of using this data.

Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.



Amazon entices warehouse employees to grocery unit with higher pay By Reuters


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© Reuters. A sign encouraging hand sanitizer use is pictured in the Amazon Obidos lobby in the South Lake Union neighborhood during the coronavirus disease (COVID-19) outbreak, in Seattle

2/2

By Krystal Hu

(Reuters) – Amazon.com Inc (NASDAQ:) is offering higher pay to recruit its own warehouse employees to pick and pack Whole Foods groceries amid rising demand and a worker shortage, according to an internal document reviewed by Reuters.

This move, known as labor sharing, highlights how the ecommerce giant is reallocating some of its vast workforce to handle a spike in online sales of groceries, as millions of American are stuck at home amid the COVID-19 outbreak.

Amazon offers online grocery services through Amazon Fresh from its own grocery warehouses, and Amazon Prime Now, which delivers from its Whole Foods stores.

“The Prime Now business has seen a mass increase in volume and is now offering labor share opportunities,” Amazon said in a message sent to warehouse workers in Maryland, which was reviewed by Reuters. Workers in other states where Amazon operates grocery services have received similar communications, including California, Nevada, and Tennessee.

Employees who are selected to make the switch can make $19 per hour, a $2 raise on top of the pay hike Amazon announced earlier this month. Amazon Fresh positions require working in a freezer environment, while a Prime Now shopper role entails picking and packing products for online orders in a Whole Foods store under tight time limits.

“As we continue to see a significant increase in demand for grocery orders, we are offering temporary opportunities for associates across our fulfillment network to provide additional support,” an Amazon spokesperson said on late Friday, confirming the action.

Amazon has been doubling down on the grocery industry since its $13.7 billion acquisition of Whole Foods in 2017. It has expanded grocery delivery service to over 2,000 cities. Free for Prime subscribers, AmazonFresh and Amazon Prime Now tout quick delivery within hours.

Since the outbreak, grocery delivery has become a lifeline for people to get household staples while trying to avoid stepping outside. Grocery shoppers on Amazon have frequently seen items out of stock and delivery windows unavailable as the company struggles to meet the rising demand. It has announced the hiring of 100,000 full and part-time positions across the U.S. in fulfillment and delivery networks, including in AmazonFresh and Whole Foods delivery.

So far, coronavirus has spread to at least 17 Amazon warehouses in the U.S., prompting workers and lawmakers to question if enough safety measures have been taken to protect employees on the frontlines.

Grocery stores are competing for workers to fulfill online orders. Walmart (NYSE:), with a fast growing online grocery business, plans to hire 150,000 employees at stores, distribution and fulfillment centers through May.

“We’re seeing a dramatic increase in the use of online grocery shopping,” said Bill Bishop, co-founder of Brick Meets Click. “Amazon eventually wants to be one of the very dominant distributors of grocery in the United States, and I think they’re looking at this as a period when they’ve got a chance to ramp that up by actions like this.”

Disclaimer: Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. All CFDs (stocks, indexes, futures) and Forex prices are not provided by exchanges but rather by market makers, and so prices may not be accurate and may differ from the actual market price, meaning prices are indicative and not appropriate for trading purposes. Therefore Fusion Media doesn`t bear any responsibility for any trading losses you might incur as a result of using this data.

Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.



U.S. stocks higher at close of trade; Dow Jones Industrial Average up 9.36% By Investing.com


© Reuters. U.S. stocks higher at close of trade; Dow Jones Industrial Average up 9.36%

Investing.com – U.S. stocks were higher after the close on Friday, as gains in the , and sectors led shares higher.

At the close in NYSE, the gained 9.36%, while the index gained 9.29%, and the index climbed 9.35%.

The best performers of the session on the were Intel Corporation (NASDAQ:), which rose 19.52% or 8.89 points to trade at 54.43 at the close. Meanwhile, American Express Company (NYSE:) added 19.24% or 16.07 points to end at 99.60 and JPMorgan Chase & Co (NYSE:) was up 18.01% or 15.86 points to 103.91 in late trade.

The worst performers of the session were Nike Inc (NYSE:), which rose 1.86% or 1.38 points to trade at 75.58 at the close. Exxon Mobil Corp (NYSE:) added 2.53% or 0.94 points to end at 38.12 and United Technologies Corporation (NYSE:) was up 2.83% or 2.90 points to 105.40.

The top performers on the S&P 500 were Lincoln National Corporation (NYSE:) which rose 23.49% to 28.86, Coty Inc (NYSE:) which was up 23.33% to settle at 7.77 and Ameriprise Financial Inc (NYSE:) which gained 22.64% to close at 113.34.

The worst performers were Newmont Goldcorp Corp (NYSE:) which was down 11.12% to 39.50 in late trade, Zimmer Biomet Holdings Inc (NYSE:) which lost 4.15% to settle at 97.80 and Capri Holdings Ltd (NYSE:) which was down 2.86% to 13.93 at the close.

The top performers on the NASDAQ Composite were Gulfport Energy Corporation (NASDAQ:) which rose 585.00% to 2.740, Oasis Petroleum Inc (NASDAQ:) which was up 169.69% to settle at 1.000 and PDC Energy Inc (NASDAQ:) which gained 149.65% to close at 18.00.

The worst performers were Nabriva Therapeutics AG (NASDAQ:) which was down 43.04% to 0.581 in late trade, Borqs Technologies Inc (NASDAQ:) which lost 42.12% to settle at 2.350 and Aytu BioScience Inc (NASDAQ:) which was down 37.50% to 1.1500 at the close.

Rising stocks outnumbered declining ones on the New York Stock Exchange by 2497 to 431 and 17 ended unchanged; on the Nasdaq Stock Exchange, 2029 rose and 702 declined, while 34 ended unchanged.

Shares in Zimmer Biomet Holdings Inc (NYSE:) fell to 52-week lows; down 4.15% or 4.23 to 97.80. Shares in Capri Holdings Ltd (NYSE:) fell to all time lows; falling 2.86% or 0.41 to 13.93. Shares in Nabriva Therapeutics AG (NASDAQ:) fell to all time lows; falling 43.04% or 0.439 to 0.581.

The , which measures the implied volatility of S&P 500 options, was down 23.37% to 57.83.

Gold Futures for April delivery was down 3.85% or 61.20 to $1529.10 a troy ounce. Elsewhere in commodities trading, Crude oil for delivery in April rose 4.67% or 1.47 to hit $32.97 a barrel, while the May Brent oil contract rose 4.52% or 1.50 to trade at $34.72 a barrel.

EUR/USD was down 0.69% to 1.1106, while USD/JPY rose 3.15% to 107.92.

The US Dollar Index Futures was up 1.08% at 98.515.

Disclaimer: Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. All CFDs (stocks, indexes, futures) and Forex prices are not provided by exchanges but rather by market makers, and so prices may not be accurate and may differ from the actual market price, meaning prices are indicative and not appropriate for trading purposes. Therefore Fusion Media doesn`t bear any responsibility for any trading losses you might incur as a result of using this data.

Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.



Australia stocks higher at close of trade; S&P/ASX 200 up 3.11% By Investing.com


© Reuters. Australia stocks higher at close of trade; S&P/ASX 200 up 3.11%

Investing.com – Australia stocks were higher after the close on Tuesday, as gains in the , and sectors led shares higher.

At the close in Sydney, the gained 3.11%.

The best performers of the session on the were Viva Energy Group Ltd (ASX:), which rose 13.78% or 0.195 points to trade at 1.610 at the close. Meanwhile, NRW Holdings Ltd (ASX:) added 12.57% or 0.22 points to end at 1.97 and South32 Ltd (ASX:) was up 12.53% or 0.225 points to 2.020 in late trade.

The worst performers of the session were oOh!Media Ltd (ASX:), which fell 5.15% or 0.10 points to trade at 1.84 at the close. Charter Hall Group (ASX:) declined 3.74% or 0.42 points to end at 10.80 and Northern Star Resources Ltd (ASX:) was down 3.73% or 0.530 points to 13.690.

Rising stocks outnumbered declining ones on the Sydney Stock Exchange by 701 to 600 and 250 ended unchanged.

Shares in oOh!Media Ltd (ASX:) fell to all time lows; losing 5.15% or 0.10 to 1.84.

The , which measures the implied volatility of S&P/ASX 200 options, was down 14.07% to 30.032.

Gold Futures for April delivery was down 0.95% or 16.00 to $1659.70 a troy ounce. Elsewhere in commodities trading, Crude oil for delivery in April rose 7.00% or 2.18 to hit $33.31 a barrel, while the May Brent oil contract rose 7.28% or 2.50 to trade at $36.86 a barrel.

AUD/USD was down 0.58% to 0.6548, while AUD/JPY rose 1.79% to 68.61.

The US Dollar Index Futures was up 1.07% at 95.882.

Disclaimer: Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. All CFDs (stocks, indexes, futures) and Forex prices are not provided by exchanges but rather by market makers, and so prices may not be accurate and may differ from the actual market price, meaning prices are indicative and not appropriate for trading purposes. Therefore Fusion Media doesn`t bear any responsibility for any trading losses you might incur as a result of using this data.

Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.



Oil clambers higher as OPEC, allies move closer to deeper output cuts


SINGAPORE (Reuters) – Oil prices jumped 1.5% on Wednesday on hopes that major producers have made progress towards sealing an agreement to implement deeper output cuts aimed at offsetting the slump in demand caused by the global coronavirus outbreak.

FILE PHOTO: Pump jacks operate at sunset in Midland, Texas, U.S., February 11, 2019. REUTERS/Nick Oxford

Brent crude LCOc1 rose by 78 cents, or 1.50%, to $52.64 a barrel at 0502 GMT, after settling down 4 cents in the previous session. U.S. West Texas Intermediate (WTI) futures CLc1 rose by 72 cents, or 1.53%, to $47.90 a barrel, up for a third session.

A panel of the Organization of Petroleum Exporting Countries (OPEC) and its allies, a grouping known as OPEC+, recommended cutting oil output by an extra 1 million barrels per day (bpd) on Tuesday. The recommendation may mean that Russia and Saudi Arabia, the two biggest producers in the OPEC+ group, are close to a deal to support prices.

That would be in addition to 2.1 million bpd in current output cuts that include a 1.7 million bpd in curbs by OPEC+ and other voluntary reductions by Saudi Arabia, the world’s biggest exporter. The group is set to meet formally in Vienna on March 5-6.

“This is no time for caution for OPEC+. Second-quarter oversupply needed some heavy lifting from the group to offset even before the COVID-19 (coronavirus disease) outbreak, but now it is a must,” Barclays analysts said in a research note.

Brent and WTI have each fallen about 27% from their 2020-peak reached in January.

The expected 1 million bpd additional cut by OPEC+ would still fall well short of the newly increased 2.1 million bpd expected global demand loss in the first half alone, Goldman Sachs analysts (GS.N) wrote in a research note.

U.S. crude oil inventories rose in the most recent week, while gasoline and distillate stocks fell, data from industry group the American Petroleum Institute showed on Tuesday.

Crude inventories rose by 1.7 million barrels in the week to Feb. 28 to 446.6 million barrels, compared with analysts’ expectations for a build of 2.6 million barrels.

Goldman has again cut its Brent price forecast to $45 a barrel in April, while expecting Brent gradually recovering to $60 a barrel by year-end.

Morgan Stanley on Tuesday also cut its second-quarter 2020 Brent price forecast to $55 per barrel and its WTI outlook to $50 on expectations that China’s 2020 oil demand growth would be close to zero and that demand elsewhere may weaken because of the virus.

Elsewhere, the U.S. Federal Reserve cut interest rates on Tuesday in a bid to shield the world’s largest economy from the impact of the coronavirus.

“(The) Fed’s emergency rate cut underscores fragility of economic fundamentals, and this urges OPEC+ to expedite a deeper output cut to shore up energy prices,” said Margaret Yang, market analyst at CMC Markets.

Yang said from a technical analysis perspective, Brent has found strong support at around $50-52, while immediate resistance can be found at $54.70.

Reporting by Shu Zhang; Editing by Christian Schmollinger and Kenneth Maxwell



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Gold Prices Trade Slightly Higher on Reports of Global Central Banks’ Support By Investing.com


© Reuters.

By Alex Ho

Investing.com – Gold prices traded slightly higher on Tuesday in Asia following reports of potential monetary policy easing by major central banks.

Gold futures for April delivery rose 0.3% to $1,599.60 by 12:59 AM ET (04:59 GMT).

Central banks including the U.S. Fed, European Central Bank, Bank of Japan and Bank of England have hinted at action in recent days.

As for rate cut expectations, fed funds futures are pricing in a 100% chance that the Federal Reserve will cut rates by 50 basis points at its meeting March 18, Investing.com’s Fed Rate Monitor Tool showed.

Lower interest rates reduce the opportunity cost of holding non-yielding bullion.

However, some analysts believe gold’s gains could be short lived.

“The advance could be limited and further losses are likely after risk trades, including those in oil and stocks, came roaring back on Monday on action promised by global central banks in fighting the coronavirus,” said Barani Krishnan, commodity analyst at Investing.com.

Fawad Razaqzada, a technical chartist at forex.com for both macro commodities and currencies, echoed with Krishnan’s comments.

“After last week’s big falls, more pain could be on the way for gold bulls than gains this week,” he said. “While I still remain bullish on gold in the long term, I now think prices may go on to correct themselves for a while before starting to push higher again.”

Traders now await a G7 conference call later in the day, where finance ministers and central bank governors will discuss measures to deal with the epidemic and its economic impact.

Disclaimer: Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. All CFDs (stocks, indexes, futures) and Forex prices are not provided by exchanges but rather by market makers, and so prices may not be accurate and may differ from the actual market price, meaning prices are indicative and not appropriate for trading purposes. Therefore Fusion Media doesn`t bear any responsibility for any trading losses you might incur as a result of using this data.

Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.



U.S. stocks higher at close of trade; Dow Jones Industrial Average up 5.09% By Investing.com


© Reuters. U.S. stocks higher at close of trade; Dow Jones Industrial Average up 5.09%

Investing.com – U.S. stocks were higher after the close on Monday, as gains in the , and sectors led shares higher.

At the close in NYSE, the rose 5.09%, while the index added 4.60%, and the index added 4.49%.

The best performers of the session on the were Apple Inc (NASDAQ:), which rose 9.31% or 25.45 points to trade at 298.81 at the close. Meanwhile, Walmart Inc (NYSE:) added 7.62% or 8.20 points to end at 115.88 and UnitedHealth Group Incorporated (NYSE:) was up 7.12% or 18.15 points to 273.11 in late trade.

The worst performers of the session were Walt Disney Company (NYSE:), which rose 1.98% or 2.33 points to trade at 119.98 at the close. Dow Inc (NYSE:) added 2.50% or 1.01 points to end at 41.42 and 3M Company (NYSE:) was up 2.53% or 3.78 points to 153.02.

The top performers on the S&P 500 were Costco Wholesale Corp (NASDAQ:) which rose 9.96% to 309.14, Apple Inc (NASDAQ:) which was up 9.31% to settle at 298.81 and Crown Castle International Corp (NYSE:) which gained 9.04% to close at 156.24.

The worst performers were Foot Locker Inc (NYSE:) which was down 7.12% to 33.67 in late trade, Norwegian Cruise Line Holdings Ltd (NYSE:) which lost 4.48% to settle at 35.59 and Nektar Therapeutics (NASDAQ:) which was down 3.41% to 20.10 at the close.

The top performers on the NASDAQ Composite were Heat Biologics Inc (NASDAQ:) which rose 142.42% to 0.8000, Novan Inc (NASDAQ:) which was up 112.51% to settle at 0.4673 and Karyopharm Therapeutics Inc (NASDAQ:) which gained 69.64% to close at 27.72.

The worst performers were Biocept Inc (NASDAQ:) which was down 42.31% to 0.4500 in late trade, Allied Healthcare Products Inc (NASDAQ:) which lost 34.79% to settle at 15.650 and Nextdecade Corp (NASDAQ:) which was down 28.20% to 2.75 at the close.

Rising stocks outnumbered declining ones on the New York Stock Exchange by 2350 to 547 and 30 ended unchanged; on the Nasdaq Stock Exchange, 1940 rose and 757 declined, while 45 ended unchanged.

Shares in Karyopharm Therapeutics Inc (NASDAQ:) rose to 3-years highs; up 69.64% or 11.38 to 27.72. Shares in Nextdecade Corp (NASDAQ:) fell to all time lows; losing 28.20% or 1.08 to 2.75.

The , which measures the implied volatility of S&P 500 options, was down 16.68% to 33.42.

Gold Futures for April delivery was up 1.50% or 23.45 to $1590.15 a troy ounce. Elsewhere in commodities trading, Crude oil for delivery in April rose 6.17% or 2.76 to hit $47.52 a barrel, while the May Brent oil contract rose 0.11% or 0.06 to trade at $52.84 a barrel.

EUR/USD was up 0.06% to 1.1139, while USD/JPY rose 0.03% to 108.33.

The US Dollar Index Futures was down 0.55% at 97.537.

Disclaimer: Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. All CFDs (stocks, indexes, futures) and Forex prices are not provided by exchanges but rather by market makers, and so prices may not be accurate and may differ from the actual market price, meaning prices are indicative and not appropriate for trading purposes. Therefore Fusion Media doesn`t bear any responsibility for any trading losses you might incur as a result of using this data.

Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.