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On Wednesday, S&P 500 closed lower due to the news about increasing coronavirus data and the prospect of a new round of economic lockdowns. Investors were divided on whether to take heart from signs of an economic recovery or fear the impact of the rising coronavirus outbreak.
The S&P 500 and the Dow reversed earlier gains to snap three sessions of back-to-back gains. The benchmark S&P 500 index closed at 0.4% while the tech shares of Nasdaq Composite closed just 0.2% higher.
In Europe, the FTSE 100 closed at 0.2% higher and the benchmark Stoxx 600 index rose by 0.7%.
“There are periodic points of news flow where the positive news will carry the market and negative news will pressure the market. It’s a return of health concerns versus economic optimism,” NovaPoint Atlanta’s Chief investment Officer Joseph Sroka said in an interview.
“There’s a tug of war with headlines,” he added.
On Thursday, the United States’ Gross Domestic Product (GDP) suffered the biggest economic decline in the second quarter as the surge of coronavirus cases affected the whole country. The U.S. government decided to shut down restaurants, ...
European shares traded lower earlier on Thursday after underwhelming earnings reports dampened a U.S. Fed vow to continue rolling out stimulus plans in a bid to soften the economic blow of the COVID-19 pandemic. The pan-European STOXX lost ...
The dollar was briefly lifted on Thursday after the U.S. Federal Reserve offered no concrete clues about its next course of action, while investors hoped for an easy policy as the coronavirus resurgence stalled economic recovery. The dollar ...
On Tuesday, Tesla Inc.’s (TSLA.O) Chief Executive Officer Elon Musk announced that the automotive company would start to open its licensing software to supply powertrains and batteries for other car manufacturers. “Tesla is open ...
On Wednesday, European stocks rose slightly after mixed earnings reports. However, the new wave of the coronavirus outbreak kept investors cautious while they also wait for the U.S. Federal Reserve’s announcement. The Stoxx Europe 600 ...
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