CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 82% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.

CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 82% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.

CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 82% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.

Daily summary: Global stocks on track for worst week since March

18:42 30 October 2020
  • Eurozone GDP rebounds
  • Wall Street extends losses on mixed Tech earnings
  • Record number of new Covid-19 cases in the US
Majority of the European indices finished today's session lower despite upbeat GDP readings from several EU economies. It seems that  lingering concerns about coronavirus infections, lack of progress regarding Brexit negotiations and prospects of further lockdowns result in risk aversion among investors. Even the prospect of further fiscal stimulus did not improve market sentiment. Yesterday, the ECB signaled more monetary stimulus might be delivered as soon as December. European stocks suffered their worst week since the March crash, with the DAX 30 tumbling 8.6% to close at 11,556. The FTSE 100 dropped 4.8% on the week and CAC40  booked a 4.4% drop for October. During today's session DAX 30 fell 0.36%, CAC40 rose 0.5% and FTSE 100 finished 0.08% lower.
 
US indices are trading lower, dragged down by tech stocks following their mixed quarterly results. Apple iPhone sales declined 16%, number of Facebook users in the US and Canada decreased and Twitter user growth came in below expectations. Meanwhile, Alphabet shares jumped over 4% on upbeat quarterly figures. Also the rapidly spreading wave of infections weighed on market sentiment. Yesterday US reported another record number of 91 530 new COVID-19 cases. Almost a third of US states reported a daily record of more deaths than any other time during the pandemic. El Paso County in Texas imposed a 2-week shutdown of non-essential activities after the area's hospitals and medical resources were overwhelmed. The Dow Jones is down more than 7% on the week and the S&P 500 more than 6%, on track for their biggest weekly losses since March.  Nasdaq fell over 5%.
 
US crude futures dropped over 2% , while the international benchmark Brent contract fell 0.7%,  both heading for their largest weekly loss since April and on track for a second monthly loss. Elsewhere, gold futures rose 0.6% to $1,879/oz, while silver is trading 1.% higher at $23.56/oz. The fundamental factors for precious metals remain bullish, as concerns about economic recovery and a potentially contested presidential election leave room for further upside momentum.
US100 – recently index broke below the 11 542,81 pts level which is additionally strengthened by 50 SMA (green line) and market bears remain in advantage during today’s session. Currently index is approaching support at 10 880,00 pts. Should current sentiment prevails, then next support at 10.323,04 pts may be at risk.  On the other hand, if buyers manage to halt decline there, another upward swing may start. Source: xStation5

This content has been created by X-Trade Brokers Dom Maklerski S.A. This service is provided by X-Trade Brokers Dom Maklerski S.A. (X-Trade Brokers Brokerage House joint-stock company), with its registered office in Warsaw, at Ogrodowa 58, 00-876 Warsaw, Poland, entered in the register of entrepreneurs of the National Court Register (Krajowy Rejestr Sądowy) conducted by District Court for the Capital City of Warsaw, XII Commercial Division of the National Court Register under KRS number 0000217580, REGON number 015803782 and Tax Identification Number (NIP) 527-24-43-955, with the fully paid up share capital in the amount of PLN 5.869.181,75. X-Trade Brokers Dom Maklerski S.A. conducts brokerage activities on the basis of the license granted by Polish Securities and Exchange Commission on 8th November 2005 No. DDM-M-4021-57-1/2005 and is supervised by Polish Supervision Authority.

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