Turning lower. The virus setting new records across the u. S. Californias hospitalizations jumping to a new high. Rates of new cases also hitting new levels. I want to bring in kailey leinz, who has been all over the Market Action today. We were hitting a lot highs yesterday but the selloff seeming to accelerate in the final hours of trading. Snapping eight five day winning streak on the s p 500, as we approach the close today. It seemed to be a story of tech outperformance throughout much of the day. That weakness heading into the end of training. The nasdaq holding up relatively better than some of the other major averages. It was still down by about 0. 9 . But that was not as great as the laws we saw on the nasdaq or s p 500. The russell 2000 down the better part of 2 . Much more sensitive to the Economic Growth story. That seems to be the issue today, that investors are kind of pondering whether or not the recovery will take a lot longer than perhaps previously thought. You saw tha
And california all marking new highs. Australias second largest city is back into lockdown as infections search. Surge. Officials say significant action is needed. Shery we saw this years longest rally come to a halt with the s p 500 selling off for the first time after a fiveday rally. Over an have concerns Economic Impact of the pandemic and virus cases rising. 10 of the 11 sectors on the s p 500 lower most of them down by 1 . At onedaq composite, point, touched an intraday high and finished. 9 lower. Get the Dollar Strengthening and haven demand really stopping that supply brace base. We are seeing further pressure and headed towards 40 a barrel. This is ahead of storage data later this week. We do have accrued inventory reports. Those numbers are coming out later this week, and in the meantime, a survey showing a gap in supplies has expanded, showing how depressed demand is at the moment. Lets see how things are shaping up for the asian markets. Mixed andutures are kiwi stocks are
Hong kong and tokyo reporting record tallies. And singapore heads to the polls for an election overshadowed by the pandemic. Voters will be asked to wear disposable gloves at the ballot box. How marketscheck of are trading. U. S. Futures plan at the moment, after a mixed finish in the new york session. The s p 500 and the dow fell. Viruse news of resurgence, not to mention to tensionsnot to mention escalating with china. Financial shares drag to the index. Dragged the index. The Energy Sector was down for a third consecutive session with the worst three days in about a month. Take a look at what oil is doing, because we are seeing it continue to dip slightly and below the 40 a barrel level. Key libyans that a oil field resumed production, threatening more barrels into the oversupplied market. Lets see how things are shaping up for the asian markets. Could beppetite fitting this friday with asian stocks mostly lower. This has we are seeing violence concerns virus concerns you raised in
Campaign reelection ad that contained a nazi symbol. It has been a day of lowvolume and not a lot of conviction. What are investors waiting for . Fast a snooze snoozefest, not a lot of volatility. What are investors waiting for . Stocksthree of days, now are stuck. We are seeing a little bit of a haven bid for bonds and the yen. It might suggest a riskoff tone. Waitinginvestors are for a little more information around the virus and if we are going to see new epicenters that could rival what we had a going on in new york a couple months ago, sadly. But now we have moved past it. But could that be some sort of a slowing on the economy . Another look at the possibility of a real riskoff tone, the dollar. It is up for a third day and it is a haven asset. Over the last 10 days, a solid bid from a technical standpoint. The uber dollar index back above the 10 day moving average. The bloomberg dollar index back above the 10 day moving average. In the past, that has pressured stocks. It could s
People dead. Apple is reClosing Stores and pepsi is shutting a food plant in beijing. The reserve bank of australia shifting its yield curve policy into Cruise Control, saying it is functioning better now than when the qe program began. Shery u. S. Futures under pressure. We are seeing it down. 6 . This after u. S. Stocks dropped the most in more than a week. Stocks are feeding on the record levels fading on the record levels of coronavirus in florida. Industrials and energy leading. The weekeek ended in the green for u. S. Stocks. China will accelerate purchases of u. S. Farm products. It was a slightly in the green sixth session of gains. Oil is under pressure heading towards the 39 a barrel, after it at one point surpassed four dollars a barrel. 40 a barrel. Theres optimism we could see global fuel demand and we had more reassurance from the opecplus groupon output cuts last week. Group on output cuts last week. Haidi china has confirmed its new National Security law will override h