Key Highlights reasons for Surged US markets
- Reopening of US economy & Race to find corona vaccine, lifted US markets.
- Trade tensions increased as US president Donald Trump highlighted to take some action against China related to Hong Kong issue this weekend.
- This will have knee jerk reaction in stock markets, as trade tensions will increase further.
US & China trade tensions
- Wall Street ended with strong gains as easing lock down policies of many states in U.S. and race to find vaccine. These reasons lifted the investor sentiment and rising all the three indices there.
- These indices ignored the warning issued by the U.S. government to impose sanction against China related to Hong Kong issue.
- This will have knee jerk reaction on Stock indices around the world if this happens.
- Asian Markets are presently trading in mix territory on rising US & China trade tensions.
- American biotech company Novavax said that it started first human virus study to come out with corona virus vaccine. Many companies are working on corona virus vaccine, a key positive for the development and fight against pandemic.
- Dow Jones Industrial Average gained by 529.95 points, or 2.17%, close at 24,995.11.
- The S&P 500 seen upside of 36.32 points, or 1.23%, ends at 2,991.77.
- Nasdaq Composite Index increased by 15.63 points, or 0.17%, close at 9,340.22.
Asian Markets In Morning
|Indices||Current Value||Prev. Close||% Change|
Asian markets are showing mix trend as investors sentiments are dampened after US president announcement to take some action on China
Nifty 50 outlook for the day.
- SGX Nifty is suggesting that Indian Markets will start at around 9050 level. Nifty is trading in range and without any direction. So it is prudent to trade in stocks that have given fresh break out either upside or downside.
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