Join +750K new investors every month who copy stock picks from billionaire's portfoliosSign Up Free

US Retail Sales And California ‘emergency Break’ Give Vaccine-Happy Markets Covid

Published 18/11/2020, 06:24
UK100
-
FCHI
-
DJI
-
DE40
-

Remembering that the vaccine isn’t actually here just yet, the markets accelerated their retreat this Tuesday afternoon.

Once again unable to make a lasting push above 30,000, the Dow Jones instead tumbled 350 points, falling from its all-time highs to dip a toe below 29,600.

This decline, far worse than where, say, the European markets were at the start of the session, came after a couple of headlines that dragged investors back into the pandemic present. Firstly, US retail sales missed estimates, at 0.3% against the 0.5% forecast, and the 1.6% seen last month – itself revised down from 1.9%.

Then there was news that California is hitting the ‘emergency brake’ on its reopening plans, reimposing lockdown measures on 40 counties in order to try and combat the surging numbers of covid-19 cases, a wave – soon to be tsunami – that the Trump administration seemingly has no interest in battling itself.

With the US opening lower the Eurozone indices had no choice but to remain in the red, the DAX and CAC falling 0.6% and 0.5% respectively.

The FTSE was the day’s hardest hit index, not only due to the various covid wakeup calls the session provided, but the Brexit deal optimism lifting the pound.

As Irish Taoiseach Micheal Martin stated that both sides could see the ‘landing zones’ around an agreement, and Bloomberg reported that a breakthrough could be announced on Monday, sterling shot up half a percent against the dollar and 0.3% against the euro. This in turn contributed to the FTSE’s 100 point decline, forcing the UK index back to 6,325.

"Disclaimer: Spreadex provides an execution only service and the comments above do not constitute (or should not be construed as constituting) investment advice or recommendations, or a record of our trading prices, or an offer of, or solicitation for, a transaction in any financial instrument. Any person placing trades based on their interpretations of the above comments does so entirely at their own risk. Spreadex Ltd is a financial and sports spread betting and sports fixed odds betting firm, which specialises in the personal service and credit area. Founded in 1999, Spreadex is recognised as one of the longest established spread betting firms in the industry with a strong reputation for its high level of customer service and account management.

In relation to spread betting, Spreadex Ltd is authorised and regulated by the Financial Conduct Authority. Spread betting carries a high level of risk to your capital and can result in losses larger than your initial stake/deposit. It may not be suitable for everyone, so please ensure you fully understand the risks involved."

Original Post

Latest comments

Loading next article…
Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.