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The Stock Market bounces back a bit after positivity on June jobs report

August 20, 2020

The government’s report that the U.S. economy has added 4.8 million jobs just this month of June has uplifted investor’s hopes in the reopening of the economy. The report has exceeded what the economists expected which is just around 2.9 million, which brought the unemployment rate down by 11.1% from 13.3% from a report in May.

Nasdaq Composite has closed higher for the second time this week, as big tech stocks included with it such as Microsoft (MSFT), Amazon (AMZN) and Netflix (NFLX) were all trading at new records, with this data Nasdaq has now gained almost 14% just this year. The Dow has bounced back after losing some momentum yesterday, while The S&P 500 is up by 0.5%.

The three major stocks (Nasdaq, S&P 500 and the Dow) have lead the market optimistically on today’s trading day. And below are some of the price movements that occurred.

Stocks

  • The Dow Jones Industrial Average is up by 92.39 points higher or 0.4% to 25,827.36.
  • The Nasdaq Composite hit another record high for the second time this week, climbing up by 0.5% to 10,207.63.
  • The S&P 500 also gained 0.5% to end the day at 3,130.01.
  • The Stoxx Europe 600 Index added 2%.
  • The MSCI Asia Pacific Index increased 1.7%.

Bonds

  • The yield on 10-year Treasuries declined one basis point to 0.67%.
  • The yield on the 30-year Treasury bond ticked lower to 1.429%.
  • The 2-year Treasury Yield has no noticeable movement with 0.155%.

Commodities

  • Gold has impressively increased by 0.33% to $1,776.52 an ounce, after losing a bit yesterday.
  • West Texas Intermediate crude surge with 2.08% increase to $40.65 per barrel.
  • Brent crude’s price has also increased by 2.64% to $43.14 per barrel.

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