Asia morning: Tech Stocks Rebound
Ming Lam November 11, 2020 8:07 PM
Meanwhile, New York Governor Andrew Cuomo announces new COVID-19 restrictions aiming to slow the coronavirus's spread....
On Wednesday, the tech-heavy Nasdaq 100 Index rebounded 268 points (+2.31%) to 11892 and the S&P 500 gained 27 points (+0.77%) to 3572, while the Dow Jones Industrial Average eased 23 points (-0.08%) to 29397.
Meanwhile, New York Governor Andrew Cuomo announced new COVID-19 restrictions aiming to slow the coronavirus's spread.
Dow Jones Industrial Average (Daily Chart) : Upside Prevails
Sources: GAIN Capital, TradingView
Semiconductors & Semiconductor Equipment (+3.72%), Technology Hardware & Equipment (+2.65%) and Retailing (+2.00%) sectors performed the best, while Materials (-1.37%), Capital Goods (-1.16%) and Banks (-0.98%) sectors lagged behind. Coty (COTY +8.18%), News Corp (NWSA +5.72%) and Qualcomm (QCOM +5.41%) were top gainers, while Kohls Corp (KSS -10.06%), Air Products and Chemicals (APD -9.40%) and Nordstrom (JWN -8.52%) were top losers.
American Express (AXP -4.17%) closed lower dragging the Dow.
Approximately 86% (82% in the prior session) of stocks in the S&P 500 Index were trading above their 200-day moving average and 79% (78% in the prior session) were trading above their 20-day moving average.
European stocks had another positive day. The Stoxx Europe 600 climbed 1.08%, Germany's DAX added 0.40%, France's CAC 40 increased 0.48%, and the U.K.'s FTSE 100 advanced 1.35%.
The U.S. Treasury market was closed to observe the Veterans Day holiday.
Spot gold declined $11 (-0.63%) to $1,865 an ounce.
U.S. WTI crude futures (December) added $0.16 (+0.39%) to $41.52 a barrel.
The U.S. dollar strengthened further against other major currencies, The ICE Dollar Index regained the 93.00 level as it rose 0.29% to 93.02.
EUR/USD fell 0.32% to 1.1777 as traders continued to unwound long positions following the pair's strong rebound last week.
GBP/USD declined 0.37% to 1.3222 halting a four-day rally. Investors expected on-going trade talks between the U.K. and European Union to yield nothing by this weekend's informal deadline.
USD/JPY held up well charging 0.11% higher to 105.42.
USD/CAD rebounded for a second day to 1.3063.
AUD/USD edged down to 0.7280.
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