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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 morning nov 12

Article By: ,  Financial Analyst
November 11, 2020 8:07 PM

Asia morning: Tech Stocks Rebound

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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