MARKET WRAP: S&P500 Pared Gains; Brent Dropped 5% From Yesterday’s High

*European stocks were dragged lower by bank stocks
*Saudi Arabia is likely to return to its previous production level a lot more earlier than previous estimates
*Dollar continued to climb higher while investors hedged their risk by betting on VIX  
 

Stocks

• The S&P 500 Index swung between gains and losses but dropped due to energy stocks. The index lost 0.05% of value as of 15:04 London time.
• The Stoxx Europe 600 Index declined 0.09%, as investors continued to examine the difference between oil shock and short term disturbance. 
• The UK FTSE 100 fell another 0.03% while Boris fought hard for his decision of suspending Parliament in the Supreme Court of England.

• The Dollar Spot Index advanced 0.02% and made a high of 98.74.
• The Euro recovered some of its losses and moved above the level of 1.10 against the dollar. The EUR/USD made a high of 1.1042.
• The British pound failed to climb above the 1.25 mark against the dollar as traders took profit off the table. The currency gained 0.14%.
• The Japanese yen moved higher by 0.19% to 108.18.

• The Yield on 10-year Treasuries dropped by three basis point to 1.81%.
• Britain’s 10-year yield dropped to 0.67%.

• West Texas Intermediate fell -4.07% today after a sharp rise in oil prices yesterday.
• Gold broke above the $1,500 mark and gained 0.04%.