MARKET WRAP: Stocks Moved Back In Positive Territory

Tech stocks supported the markets while the gold price remained above the 1400 mark for now

Stocks

• The S&P 500 Index recovered its losses and gained 0.21% as of 15:30 London time.
• The Stoxx Europe 600 Index failed to remain in the positive territory despite some strong economic numbers out of Germany. It fell  0.02%.
• The MSCI Emerging Market Index remained mostly neutral but recorded a small gain of 0.05%.

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Currencies

• The Bloomberg Dollar Spot Index moved higher ahead of the Fed chairman’s speech. It climbed nearly 0.16%.
• The Euro struggled to stay above the 1.14 mark and fell 0.1% to $1.1388.
• The British pound  remained weak as Carney points out to another stimulus package in case of no deal.  The currency fell 0.09% to $1.2694.
• The Japanese yen dipped 0.35% to 107.62 per dollar.

Bonds

• The yield on 10-year Treasuries advanced three basis points to 1.98%.
• Germany’s 10-year yield soared by one basis point to -0.31%.
• Britain’s 10-year yield climbed two basis point to 0.811%.

Commodities

• West Texas Intermediate crude moved higher due to the heightened geopolitical tensions and gained 2.14% to $59.10 a barrel.
• Gold price dropped ahead of the Jerome Powell’s speech and remained at 1408. It lost nearly 1.24%.

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