Asia Morning Stocks Oil Higher as Sentiment Keeps Improving
Investors were encouraged to see that, as countries relaxed coronavirus-induced restrictions, oil prices rallied on expectations of rebounding demand...
Share this:
On Monday U.S. stocks stabilized after two losing sessions. Investors were encouraged to see that, as countries relaxed coronavirus-induced restrictions, oil prices rallied on expectations of rebounding demand.
The Dow Jones Industrial Average edged up 26 points (+0.1%) to 23,749, the S&P 500 added 12 points (+0.4%) to 2,842, and the Nasdaq 100 rebounded 115 points (+1.3%) to 8,834.
Energy (+3.71%), Software & Services (+1.64%), Semiconductors & Semiconductor Equipment (+1.22%) sectors gained the most.
Phillips 66 (PSX +10.7%), Valero Energy (VLO +8.3%) and Marathon Petroleum (MPC +7.8%) were top gainers.
Tyson Foods (TSN -7.8%) and Whirlpool (WHR -5.5%) showed heavy losses.
American Airlines (AAL -7.7%), Delta Air Lines (DAL -6.4%), United Airlines (UAL -5.1%) and Southwest Airlines (LUV -5.7%) all crashed to the bottom of the S&P after Berkshire Hathaway (BRKA -2.5%) said on Saturday that it had sold all stakes in the four major U.S. airlines.
On the technical side, about 21.6% (25.8% in the prior session) of stocks in the S&P 500 Index were trading above their 200-day moving average, and 62.4% (83.2% in the prior session) were above their 20-day moving average.
U.S. official data showed that Factory Orders dropped 10.3% on month in March (-9.2% on month expected) and Durable Goods Orders (final reading) fell 14.7% (-14.4% expected).
Later today, March U.S. Trade Balance (deficit of 44.2 billion dollars expected), April Markit U.S. Services Purchasing Mangers' Index (final reading, 27.0 expected) and Institute for Supply Management's (ISM) Non-Manufacturing Index (37.8 expected) will be reported.
European stocks got heavier, with the Stoxx Europe 600 Index slumping 2.7%. Germany's DAX tumbled 3.6%, France's CAC plunged 4.2%, and the U.K.'s FTSE 100 edged down 0.2%.
The benchmark 10-year U.S. Treasury yield settled slightly lower at 0.636%.
Spot gold gained 2 dollars to $1,700 an ounce.
U.S. WTI crude oil futures (June) advanced 3.1% to $20.39 a barrel, and Brent crude oil futures rose 2.9% to $27.20 a barrel.
On the forex front, the U.S. dollar stabilized against its major peers on Monday, with the ICE Dollar Index rebounding 0.4% on day to 99.51.
The Dow Jones Industrial Average edged up 26 points (+0.1%) to 23,749, the S&P 500 added 12 points (+0.4%) to 2,842, and the Nasdaq 100 rebounded 115 points (+1.3%) to 8,834.
Source: GAIN Capital, TradingView
Energy (+3.71%), Software & Services (+1.64%), Semiconductors & Semiconductor Equipment (+1.22%) sectors gained the most.
Phillips 66 (PSX +10.7%), Valero Energy (VLO +8.3%) and Marathon Petroleum (MPC +7.8%) were top gainers.
Tyson Foods (TSN -7.8%) and Whirlpool (WHR -5.5%) showed heavy losses.
American Airlines (AAL -7.7%), Delta Air Lines (DAL -6.4%), United Airlines (UAL -5.1%) and Southwest Airlines (LUV -5.7%) all crashed to the bottom of the S&P after Berkshire Hathaway (BRKA -2.5%) said on Saturday that it had sold all stakes in the four major U.S. airlines.
On the technical side, about 21.6% (25.8% in the prior session) of stocks in the S&P 500 Index were trading above their 200-day moving average, and 62.4% (83.2% in the prior session) were above their 20-day moving average.
U.S. official data showed that Factory Orders dropped 10.3% on month in March (-9.2% on month expected) and Durable Goods Orders (final reading) fell 14.7% (-14.4% expected).
Later today, March U.S. Trade Balance (deficit of 44.2 billion dollars expected), April Markit U.S. Services Purchasing Mangers' Index (final reading, 27.0 expected) and Institute for Supply Management's (ISM) Non-Manufacturing Index (37.8 expected) will be reported.
European stocks got heavier, with the Stoxx Europe 600 Index slumping 2.7%. Germany's DAX tumbled 3.6%, France's CAC plunged 4.2%, and the U.K.'s FTSE 100 edged down 0.2%.
The benchmark 10-year U.S. Treasury yield settled slightly lower at 0.636%.
Spot gold gained 2 dollars to $1,700 an ounce.
U.S. WTI crude oil futures (June) advanced 3.1% to $20.39 a barrel, and Brent crude oil futures rose 2.9% to $27.20 a barrel.
On the forex front, the U.S. dollar stabilized against its major peers on Monday, with the ICE Dollar Index rebounding 0.4% on day to 99.51.
Related tags:
Open an account in minutes
Experience award-winning platforms with fast and secure execution, and enjoy tight spreads from 0.5 pts on FX and 0.3 pts on indices.
Economic calendar
Web Trader platform
Our sophisticated web-based platform is packed with features.
Related articles
This report is intended for general circulation only. It should not be construed as a recommendation, or an offer (or solicitation of an offer) to buy or sell any financial products. The information provided does not take into account your specific investment objectives, financial situation or particular needs. Before you act on any recommendation that may be contained in this report, independent advice ought to be sought from a financial adviser regarding the suitability of the investment product, taking into account your specific investment objectives, financial situation or particular needs.
StoneX Financial Pte. Ltd., may distribute reports produced by its respective foreign entities or affiliates within the StoneX group of companies or third parties pursuant to an arrangement under Regulation 32C of the Financial Advisers Regulations. Where the report is distributed to a person in Singapore who is not an accredited investor, expert investor or an institutional investor (as defined in the Securities Futures Act), StoneX Financial Pte. Ltd. accepts legal responsibility to such persons for the contents of the report only to the extent required by law. Singapore recipients should contact StoneX Financial Pte. Ltd. at 6826 9988 for matters arising from, or in connection with the report.
In the case of all other recipients of this report, to the extent permitted by applicable laws and regulations neither StoneX Financial Pte. Ltd. nor its associated companies will be responsible or liable for any loss or damage incurred arising out of, or in connection with, any use of the information contained in this report and all such liability is hereby expressly disclaimed. No representation or warranty is made, express or implied, that the content of this report is complete or accurate.
StoneX Financial Pte. Ltd. is not under any obligation to update this report.
Trading CFDs carries a high level of risk that may not be suitable for some investors. Consider your investment objectives, level of experience, financial resources, risk appetite and other relevant circumstances carefully. The possibility exists that you could lose some or all of your investments, including your initial deposits. If in doubt, please seek independent expert advice. Visit www.forex.com/en-sg/terms-and-policies for the complete Risk Disclosure Statement.