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CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 69% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.
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asia mornimg oct 28

Article By: ,  Financial Analyst
October 27, 2020 8:47 PM

Asia Morning: U.S. Stocks Mixed, Tech Higher

On Tuesday, U.S. stocks closed mixed. The Dow Jones Industrial Average fell a further 222 points (-0.80%) to 27463, and the S&P 500 dropped 10 points (-0.30%) to 3390. Meanwhile, the tech-heavy Nasdaq 100 rebounded 94 points (+0.82%) to 11598 before big technology firms report results.


Nasdaq 100 Index (Daily Chart) : Holding Above 11180

Sources: GAIN Capital, TradingView


The While House hinted that a fiscal stimulus deal is unlikely before the November 3 election.

Retailing (+1.16%), Media (+0.84%) and Technology Hardware & Equipment (+0.81%) sectors performed the best, while Banks (-2.73%), Capital Goods (-2.6%) and Automobiles & Components (-2.09%) sectors lagged behind. Harley-Davidson (HOG +22.07%) became the top gainer after its quarterly results beat market expectations.

Semiconductor designer Advanced Micro Devices (AMD -4.07%) said it has agreed to buy Xilinx (XLNX +8.56%) in a $35 billion all-stock deal.

Approximately 70% (75% in the prior session) of stocks in the S&P 500 Index were trading above their 200-day moving average and 42% (68% in the prior session) were trading above their 20-day moving average.

The VIX Index, Wall Street's fear gauge, charged 0.89 point higher (+2.74%) to 33.35.

In after-market hours, Microsoft (MSFT) declined over 1% despite reporting better-than-expected results.

Regarding U.S. economic data, Durable Goods Orders (preliminary reading) jumped 1.9% on month in September (+0.5% expected). The Conference Board Consumer Confidence Index unexpectedly declined to 100.9 in October (102.0 expected).

European stocks remained under pressure. The Stoxx Europe 600 Index fell 0.95%, Germany's DAX 30 lost 0.93%, France's CAC 40 tumbled 1.77%, and the U.K.'s FTSE 100 was down 1.09%.

U.S. Treasury prices extended their rally, as the benchmark 10-year Treasury yield sank further to 0.776%.

Spot gold rose $5 (+0.27%) to $1,907 an ounce.

U.S. WTI crude futures (December) jumped $0.90 (+2.33%) to $39.46 a barrel.

On the forex front, the U.S. dollar held its strength against other major currencies. The ICE Dollar Index edged up to 93.09.

EUR/USD lost the key 1.1800 level as it eased 0.12% to 1.1795, while USD/JPY failed to regain the 105.00 level sliding 0.40% to 104.41.
 
GBP/USD added 0.15% to 1.3044, and AUD/USD edged up to 0.7128 from 0.7123 in the prior session.

USD/CAD retreated 0.21% to 1.3184. Canada's central bank will discuss interest rates later today and is expected to hold its key rate unchanged at 0.25%.

Meanwhile, the Turkish lira hit a record low of 8.2050 against the U.S. dollar, as investors were worried about rising inflation in Turkey.

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