Archives of “September 2, 2020” day

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Eurostoxx futures +0.7% in early European trading

  
  Analysis
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Optimistic tones observed in early trades

  • German DAX futures +0.9%
  • UK FTSE futures +0.9%
  • Spanish IBEX futures +0.6%

European indices ended yesterday more mixed in another somewhat disappointing session, but the late gains seen in US stocks is giving risk buyers another shot in trading today.

This sets up a firmer open for equities later but that isn’t quite translating into much for the major currencies space as the focus remains on the dollar, as it meets some key technical crossroads going into the session ahead.

Nikkei 225 closes higher by 0.47% at 23,247.15

  
Analysis, Global Indices

Asian equities mostly advance after Wall Street gains yesterday

Nikkei 02-09
Japanese stocks end the day with modest gains, as US equities pushed higher once again in trading yesterday – setting up a more positive mood today. Chinese stocks are looking more flat but the Hang Seng is up slightly by 0.2% currently.
Elsewhere, US futures are pointing to more optimism with S&P 500 futures up by 0.4% while Nasdaq futures are up by 0.6% as we look towards European trading.
In the major currencies space, there is some mild weakness in the franc as USD/CHF rebounds further after testing five-year lows near 0.9000 yesterday.
Besides that, the kiwi is also keeping a slight advance after RBNZ governor Orr said that he wasn’t concerned about the currency with NZD/USD looking to firmly break away from its 31 December high @ 0.6556.

Fauci says COVID-19 vaccine could be available earlier if clinical trials overwhelmingly positive

  
  Analysis
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Dr. Anthony Fauci is director of the National Institute of Allergy and Infectious Diseases, interview.

  • Referring to two ongoing clinical trials of 30,000 volunteers are expected to conclude by the end of the year
Fauci said an independent board has the authority to end the trials weeks early if interim results are overwhelmingly positive or negative.

  • Data and Safety Monitoring Board could say, “‘The data is so good right now that you can say it’s safe and effective,'” Fauci said. In that case, researchers would have “a moral obligation” to end the trial early and make the active vaccine available to everyone in the study, including those who had been given placebos – and accelerate the process to give the vaccine to millions.
Here is the link to the piece for more.
Dr. Anthony Fauci is director of the National Institute of Allergy and Infectious Diseases, interview. 

S&P and NASDAQ close at record highs

  
Analysis, US Market

Major indices closed near highs for the day

The S&P and NASDAQ index closed at record highs once again. The NASDAQ index led the way with a 1.39% gain. Each of the major indices close near session highs. The S&P closed higher for the 8th time in 9 days. The NASDAQ index rose for the 3rd consecutive day.
The final numbers are showing:
  • S&P index up 26.35 points or 0.75% at 3526.66
  • NASDAQ index up 164.21 points or 1.39% at 11939.60
  • Dow industrial average up 215.61 points or 0.76% at 28645.66
The European shares today ended mostly lower. The German DAX rose by 0.22%, while the UK FTSE 100 fell by -1.7%.
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