MARKET WRAP: Trade Optimism Pushed Stocks Higher


*Stoxx 600 made a record high, up more than 11% from its August low
*Dow Jones also made a record high
*Gold holding on to its 1500 support level



Stocks

  • The S&P 500 opened the week strong and gained more than 0.40% as of 15:02 London time. This is despite the weakness in the US factory order data.
  • The Stoxx Europe 600 gained 1.05% and the move was led by the auto sector.
  • The SPX VIX index jumped more than 6% and the VTSOXX also experienced the upward movement with a gain of 5.25%
  • The UK 100 index gained 1.15% and made a high of 7392.
 
 
Currencies
  • The  Dollar Spot Index moved higher by 0.04%. The US factory order data fell to -06^ against the forecast of -0.5%.   
  • The Euro dropped 0.13% and made a low of 1.147.
  • The British Pound dropped 0.29% to 1.2907 and made a low of 1.2902. Investors are reducing their short positions according to the CFTC data.
  • The Japanese yen dropped 2.4% to 108.18 per dollar.
  
 
 
 Commodities
  • West Texas Intermediate crude oil gained 1.37%. The optimism around trade deal has supported the demand for oil.  
  • Gold is showing its resilience against the risk-on trade. However, the price dropped by nearly 0.16% as the equity markets made the all-time high. 



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