MARKET WRAP: Stocks Closed Lower; Oil Continued Its Upward Move

*Trade war concerns moved stocks lower 
*Italy likely to face geopolitical turmoil
*Gold likely to touch 1,550 next week


  • The S&P 500 Index set to close this week on negative tone. The index lost over 0.39% as of 15:37 London time.
  • The Stoxx Europe 600 Index tanked today due to the political concerns in Italy. The index dropped 0.51%.
  • The UK FTSE lost 0.2%  as investors reacted to recession concerns.
  • The Dollar Spot Index dropped lower as investors started to factor in dovish Fed stance and it dropped 0.04%.
  • The Euro moved lower by 0.12%.and made a low of 1.1177.
  • The British pound declined another 0.56% but remained below the key level of 1.21, it recorded a low of 1.2056.
  • The Japanese yen moved higher by 1.43% to 106.62.
  • The Yield on 10-year Treasuries dropped by ten basis point to 0.70%.
  • Britain’s 10-year yield fell to 0.49%.
  • West Texas Intermediate crude moved higher due to the weakness in the dollar price and went up by 3.52% to $54.41 a barrel.
  • Gold has become a safe haven trade and soared 0.23% to $1,501