Archives of “October 2020” month

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Pelosi and Mnuchin spoke for 40 minutes today on whether there is any prospect for stimulus

  
Analysis, Life

Report from Speaker Pelosi’s chief of staff

Mnuchin made clear Trump’s interest in reaching a deal.
From Drew Hammill:
The Speaker & Secretary Mnuchin spoke at 3:00 pm today for 40 minutes. Their conversation focused on determining whether there is any prospect of an imminent agreement on a comprehensive bill. The Secretary made clear the President’s interest in reaching such an agreement. The Speaker pointed out that, unfortunately, the White House Communications Director contradicted that assertion during their call. The Speaker trusts that the Secretary speaks for the President.
That’s a confusing message.

US Major indices close higher for the 2nd straight day

  
Analysis, US Market

All 11 sectors of the S&P closed higher

The major indices close higher for the 2nd consecutive day and 3rd time in 4 days this week.

  • The Dow industrial average closed at the highest level since September 2
  • S&P and NASDAQ close that highest level since September 3
  • the Russell 2000 leads the way with a 1.09% gain
  • S&P 500 closes lesson 4% from the all-time high
  • NASDAQ index closes 5% below the all-time high
  • The Dow industrial average is only negative on the year by -0.4%
The final numbers are showing:
  • S&P index rose 27.38 points or 0.8% at 3446.83. The high price reached 3447.28. The low price extended to 3428.15
  • NASDAQ index closed up 56.38 points or 0.5% at 11420.98. It’s high price was up at 11448.23. It’s low price extended to 11384.33
  • Dow industrial average closed up 122.05 points or 0.43% at 28425.53. The high price reached 28459.13. The low price extended to 28265.56
  • The Russell 2000 index rose 17.1 points or 1.06% on the day at 1628.27. The Russell 2000 index is still down -2.43% year to date.
The changes of the major stock indices

Maj. European indices end the session higher.

  
Analysis, Global Indices

Spain’s Ibex leads the way

The major European indices are ending the session higher for the 3rd time in 4 days this week. The provisional closes are showing:

  • German DAX, +1.0%
  • France’s CAC, +0.8%
  • UK’s FTSE 100, +0.7%
  • Spain’s Ibex, +1.3%
  • Italy’s FTSE MIB, +0.9%
In other markets as London/European traders look to exit:
  • Spot gold is trading up $1.19 or 0.06% at $1888.50.
  • Spot silver is trading up $0.08 or 0.33% at $23.89.
  • WTI crude oil futures are trading up $0.70 and back above the $40 level at $40.65
In the US stock market major indices are now mixed as Pelosi’s recent comments on a standalone airline deal is hurting hopes for a deal and risk appetite.
  • S&P index is still up 10.3 points or 0.3% of 3429.59 but well off the high price of 3444.45
  • NASDAQ index is up 24 points or 0.22% at 11389.07. That is off the high of 11448.23
  • Dow industrial average is trading down -18 points or -0.06% at 28285.30.  It’s high price reached 28459.13
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