Asia Morning: U.S. Stocks Close in the Red

Investors are still concerned about various U.S. states imposing COVID-19-related restrictions amid record-breaking infection cases...

Trading floor 2

On Friday, major U.S. stock indexes closed in the red. The Dow Jones Industrial Average fell 219 points (-0.75%) to 29263, the S&P 500 dropped 24 points (-0.68%) to 3557, and the Nasdaq 100 was down 78 points (-0.66%) to 11906.

Dow Jones Industrial Average Index (Daily Chart) : Bullish Above 28000

Sources: GAIN Capital, TradingView

Investors were still concerned about various U.S. states imposing COVID-19-related restrictions amid record-breaking infection cases.

Banks (-1.15%), Consumer Services (-1.14%) and Software & Services (-1.13%) sectors lost the most. Mylan (VTRS -5.41%), Foot Locker (FL -4.96%), Norwegian Cruise Line (NCLH -4.90%) and Carnival Corp (CCL -4.51%) were top losers.  

Stay-at-home beneficiary Zoom Video Communications (ZM +6.11%) jumped.

Approximately 90% (89% in the prior session) of stocks in the S&P 500 Index were trading above their 200-day moving average and 81% (80% in the prior session) were trading above their 20-day moving average.

European stocks had a positive day. The Stoxx Europe 600 gained 0.52%, both Germany's DAX and France's CAC 40 gained 0.39%, and the U.K.'s FTSE 100 was up 0.27%.

U.S. Treasury prices advanced further, as the benchmark U.S. 10-year Treasury yield sank to 0.828% from 0.850% Thursday.

Spot gold gained $4 (+0.24%) to $1,871 an ounce.

U.S. WTI crude futures (January) jumped $0.5 (+1.19%) to $42.4 a barrel.

The ICE Dollar Index edged up to 92.39 halting a six-session decline.

EUR/USD eased 0.15% to 1.1857. The European Commission Eurozone Consumer Confidence Indicator dropped to -17.6 in November (-18.0 expected).

USD/JPY edged up 0.11% to 103.85 ending a six-day losing streak. Official data showed that Japan's consumer prices declined 0.4% on year in October (as expected).

GBP/USD gained 0.18% to 1.3285, the highest level since September 2, lifted by an official report that U.K. retail sales increased 1.2% on month in October (-0.3% expected).

AUD/USD rebounded 0.24% to 0.7303, NZD/USD added 0.18% to 0.6926, while USD/CAD gained 0.16% to 1.3093.

More from Commodities


This report is intended for general circulation only. It should not be construed as a recommendation, or an offer (or solicitation of an offer) to buy or sell any financial products. The information provided does not take into account your specific investment objectives, financial situation or particular needs. Before you act on any recommendation that may be contained in this report, independent advice ought to be sought from a financial adviser regarding the suitability of the investment product, taking into account your specific investment objectives, financial situation or particular needs.

GAIN Capital Singapore Pte. Ltd., may distribute reports produced by its respective foreign entities or affiliates within the GAIN Capital group of companies or third parties pursuant to an arrangement under Regulation 32C of the Financial Advisers Regulations. Where the report is distributed to a person in Singapore who is not an accredited investor, expert investor or an institutional investor (as defined in the Securities Futures Act), GAIN Capital Singapore Pte. Ltd. accepts legal responsibility to such persons for the contents of the report only to the extent required by law. Singapore recipients should contact GAIN Capital Singapore Pte. Ltd. at 6826 9988 for matters arising from, or in connection with the report.

In the case of all other recipients of this report, to the extent permitted by applicable laws and regulations neither GAIN Capital Singapore Pte. Ltd. nor its associated companies will be responsible or liable for any loss or damage incurred arising out of, or in connection with, any use of the information contained in this report and all such liability is hereby expressly disclaimed. No representation or warranty is made, express or implied, that the content of this report is complete or accurate.

GAIN Capital Singapore Pte. Ltd. is not under any obligation to update this report.

Trading CFDs and FX on margin carries a high level of risk that may not be suitable for some investors. Consider your investment objectives, level of experience, financial resources, risk appetite and other relevant circumstances carefully. The possibility exists that you could lose some or all of your investments, including your initial deposits. If in doubt, please seek independent expert advice. Visit for the complete Risk Disclosure Statement.