GO Daily News

Be sure to be up to date with our wrap of market movements and events for the day just gone.

GO Daily News

Be sure to be up to date with our wrap of market movements and events for the day just gone.

Overnight on Wall Street: Thursday 12/03/2020

Equity Markets The World Health Organisation declared the COVID-19 a global pandemic which brought another round of extreme volatility in the markets. Wall Street witnessed another dreadful day and was in a sea of red as a lack of details on the stimulus program dampened risk sentiment. Widespread fears caused major equity benchmarks to fall i...

March 11, 2020
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Overnight on Wall Street: Wednesday 11/03/2020

Equity Markets After a dreadful Monday, the stock market recovered a semblance of normality as some governments rushed in to support the turmoil in the markets. Investors are being reassured that the combined effect of monetary and fiscal policy which are currently being considered will provide support to the global economy. Nonetheless, it wa...

March 10, 2020
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Overnight on Wall Street: Tuesday 10/03/2020

Equity Markets The bloodbath continues in the stock market and major equity benchmarks are on the brink of bearish territory. The massive plunge in the markets revived fears of the “Black Monday” meltdown in 1987. World Equity Indices (% Change) Source: Bloomberg Terminal Trading was halted for 15 minutes in the US to avoid a repeat of ...

March 9, 2020
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Overnight on Wall Street: Thursday 05/03/2020

Equity Markets The G7 Mandate reassured investors that the G7 Finance Ministers and Central Bank Governors stand ready to use all appropriate policy tools including fiscal measures to support the economy against the economic challenge posed by the COVID-19: Washington – “We, G7 Finance Ministers and Central Bank Governors, are closely mon...

March 4, 2020
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Overnight on Wall Street: Wednesday 04/03/2020

Equity Markets Markets participants were taken aback by the Fed’s first emergency rate cut since the 2008 financial crisis. In a surprising move, the Fed slashed interest rates by a half percentage point to 1% - 1.25%. Even though expectations of rate cuts initially sparked a rebound in the US sharemarket, investors were not reassured that t...

March 3, 2020
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Overnight on Wall Street: Tuesday 03/03/2020

Equity Markets US benchmarks dramatically went into correction territory last week as the wider spread of the coronavirus created panic across the board. Money flows into the bond markets and US Treasuries yields dropped to record lows. Monday saw an impressive turnaround in the US markets compared to Asian and European markets. The rebound wa...

March 2, 2020
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Overnight on Wall Street: Thursday 27/02/2020

Equity Markets The focus remained on the coronavirus on Wednesday. It was a volatile session as investors assessed the updates of the virus to gauge the economic impact. It is the first time since the outbreak that new virus cases in other countries are reportedly more than China. Major US equity benchmarks traded mixed as the uncertainties...

February 26, 2020
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Overnight on Wall Street: Wednesday 26/02/2020

Equity Markets Coronavirus is an evolving risk acting as the tip of the iceberg which is triggering a massive sell-off in an overheated market. Global stocks are in a sea of red due to fears around the wider spread of the virus across borders. Source: Bloomberg Terminal Major US equity benchmarks fell by around 3% again on Tuesday. All thre...

February 25, 2020
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Overnight on Wall Street: Tuesday 25/02/2020

Equity Markets A risk-averse environment dominated financial markets on Monday as the wider spread of the coronavirus across borders renewed fears. The sell-off was more pronounced in the European and US session as major equity benchmarks dropped by more than 3% as investors pulled out from riskier assets. Source: Bloomberg Terminal Wa...

February 24, 2020
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Overnight on Wall Street: Thursday 20/02/2020

Equity Markets With every passing day, investors are being reassured that the impact of the coronavirus outbreak will have short-term effects on the global economy. Even though companies within certain industries are downgrading forecasts due to the COVID19, the overall optimism is fuelling risk sentiment. We saw a few record highs in the g...

February 20, 2020
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Overnight on Wall Street: Wednesday 19/02/2020

Equity Markets The US markets returned from a public holiday to the warnings of the impact of the coronavirus outbreak. The big tech giant, Apple issued a sales warning due to the slower iPhone production and weaker demand from China. Even though the impact is poised to be temporary, risk sentiment was somewhat dented on Tuesday. Wall Stree...

February 18, 2020
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Overnight on Wall Street: Tuesday 18/02/2020

Equity Markets US markets were closed for Presidents' Day on Monday. Major European bourses closed in positive territory with gains of around 0.3% despite a subdued trading session. Stoxx50 rose by 12 points to 3,853 FTSE100 ended 24 points higher at 7,433 DAX added 40 points to close at 13,784. Market participants are being reas...

February 17, 2020
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Overnight on Wall Street: Thursday 13/02/2020

Equity Markets Wall Street extended gains as COVID19 virus fears eased. Major US equity benchmarks rallied to new highs on the news of early signs of a slowdown of new coronavirus cases. Dow Jones Average Industrial rose by 0.9% to 29,551. S&P500 ended 0.7% higher at 3,379. Nasdaq Composite added 87 points to close at 9,726. ...

February 12, 2020
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Overnight on Wall Street: Wednesday 12/02/2020

Equity Markets Another round of buoyant corporate earnings, early signs of a slowdown of new coronavirus cases and strong fundamentals drove the S&P500 and Nasdaq Composite to new record highs. Dow Jones Average Industrial traded flat at 29,276. S&P500 ended 0.2% higher at 3,358. Nasdaq Composite added 0.11% to close at 9,63...

February 11, 2020
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Overnight on Wall Street: Thursday 06/02/2020

Equity Markets Wall Street rallied to fresh new highs on Wednesday amid speculations of a possible breakthrough in the coronavirus treatment and upbeat employment reports. Dow Jones Average Industrial added 483 points to finish at 29,291. S&P500 ended 1.1% higher at 3,335. Nasdaq Composite added 0.4% to close at 9,509. En...

February 5, 2020
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