Since 1980s, U.S. stocks registered its longest slide while Treasuries increased after American labor market data showed an improvement, which provided consolation over the upcoming presidential election.
The S&P 500 Index plunged on its ninth day. Gauge of unpredictable equity had its extended gains on record, whereas Treasuries increased the most since last month. Dollar is down after labor market improved and stabilized in October, which exhibits support on the Federal Reserve’s interest rate hike in December.
Oil declines as OPEC is still yet to decide with its members if oil supply reduction will be implemented on November 30 in Vienna. In New York, it declined by 1.3 percent.
Hillary Clinton’s possible victory is signaled by the opinion polls, which made traders increase their stockpiles. American stocks overshadowed key records with a nearing increase days before the November 8 election.
Payrolls have increased to 161,000 in October following a 191,000 climb in September. Wages increased against last year’s record, which is the most since 2009. Unemployment rates decreased to 4.9 percent. The figures are expected to support Fed hike next month for the first time this year.
In New York at 4 P.M. of November 4, 2016, the S&P 500 Index fell to 2,085,18, which is a drop of 0.2 percent following the elimination of its 0.5 advance. The average price of the gauge during the past 200 days plunged to 2,083. This is a technical degree that has not been met yet since Brexit. In nine days, CBOE Volatility Index increased by 73 percent.
Treasuries, which are two-year notes, gained 0.02 percentage point to 0.79 percent. Benchmark 10-year notes lost four basis points, equivalent to 1.78 percent.
Since February, Stoxx Europe 600 Index dropped to 3.5 percent, extending its decline. MSCI Emerging Markets Index of equities had a four-day drop of 0.5 percent.
For six consecutive days, dollar fell, which is its longest slide since March. The Bloomberg Dollar Spot Index recorded a 0.2 percent loss overshadowing its earlier gains. The greenback, on the other hand, also dropped to $1.1137 per euro or 0.3 percent. It was slightly altered at 103.07 yen.
Since 2009, pound achieved its best week as it climbed following the delay on Brexit. Lira of Turkey declined alongside 24 rising market players.
Amid the issue China in using the dollar’s weakness to improve its exports, yuan dropped against other currencies in the trade basket.
Gold drew near to its one-month high.
Latest posts by Stock Signals Philippines (see all)
- Philippine Stock Market Wrap-up Report: October 29, 2018 - October 30, 2018
- San Miguel Corporation (SMC): A Buy on Breakout? - October 29, 2018
- Philippine Stock Market Wrap-up Report: October 26, 2018 - October 26, 2018