Yearly Archives: 2020


Wall Street Settles Lower Despite Fed Maintaining Interest Rates Near Zero

Last week started with a bang on Wall Street, as stocks looked to recover their previous week’s losses. However, the euphoria didn’t last long. Stocks pared back gains as the week progressed, with continued investor concerns around the slow pace of economic recovery. Lack of progress in talks of the next round of fiscal stimulus

By |2020-09-21T15:17:16+05:30September 21st, 2020|Finance|0 Comments

Wall Street Ends Lower Again Amid Continued Tech Sell-Off

US stocks started the holiday-shortened week on a sharply lower note, with the massive sell-off in tech stocks continuing. On Tuesday, the Nasdaq Composite index entered correction territory at the fastest speed in its history, plunging 10% over the previous three trading sessions. Although the number of jobless claims remained below the 1 million mark,

By |2020-09-14T11:57:59+05:30September 14th, 2020|Finance|0 Comments

Plummeting Tech Stocks Drive Sell-Off on Wall Street

Technology stocks started the week on a strong note as Apple’s 4-for-1 stock split came into effect Monday. Gains in Tesla’s shares, which surged around 13% on Monday following the 5-for-1 stock split, also helped the Nasdaq hit another record high on the first trading day of the week. The US Labor Department reported better-than-expected

By |2020-09-07T17:33:34+05:30September 7th, 2020|Finance|0 Comments

Dow Turns Positive for the Year Ahead of Major Restructuring

Wall Street stocks began the week heading north, with the S&P 500 and the Nasdaq Composite hitting new record highs, as investors cheered prospects of a new covid-19 treatment. The 30-stock Dow Jones index wiped off losses and turned positive for the year last week. Market sentiment was driven by news of the US FDA

By |2020-08-31T17:02:47+05:30August 31st, 2020|Finance|0 Comments

Strong Retail Earnings, Economic Data Provide Some Momentum to Wall Street

US stocks started the week on a positive note with Amazon and Tesla leading the rally, pushing the Nasdaq to another record high. Meanwhile, the S&P 500 also hit a record high, wiping out losses from the covid-19 sell-off. Sentiment was lifted by the US witnessing a slowdown in infections, while Pfizer and BioNTech expressed

By |2020-08-24T13:59:07+05:30August 24th, 2020|Finance|0 Comments

Slowdown in Infections Supports US Markets, Although Covid-19 Rescue Package Still Awaited

US stocks remained volatile last week, with investors growing increasingly concerned about the deadlock between the Congress and the White House over the new covid-19 rescue package. Although President Donald Trump signed orders last week to extend provide some relief, the legal status of these orders is still in question. Market sentiment was also hit

By |2020-08-17T16:54:14+05:30August 17th, 2020|Finance|0 Comments

Even Lackluster Jobs Data Takes Wall Street a Notch Higher

US stocks opened sharply higher last week despite a stalemate in talks on the new government stimulus package intended to support workers amid the coronavirus-induced economic recession. Markets were encouraged by an upbeat manufacturing report, which took the manufacturing PMI to 54.2 in July. Later in the week, the NFP report showed that the US

By |2020-08-10T14:17:33+05:30August 10th, 2020|Finance|0 Comments

GAFA Tech Giants Provide a Boost to US Stocks

US stocks opened the week higher after closing the previous week on a negative note. as investors braced for the busiest week of earnings, while keeping an eye on discussing around the covid-19 rescue program. Positive news regarding progress on the coronavirus vaccine front also boosted market sentiment, with Moderna reporting the commencement of Phase

By |2020-08-03T16:26:14+05:30August 3rd, 2020|Finance|0 Comments

US Stocks in the Red with Traders Shrugging Off Positive Covid-19 Vaccine News Amid Flaring US-China Tensions

US stocks had started last week on a positive note, with the Nasdaq notching a record close on Monday, as markets enthusiastically awaited quarterly results from major companies. Investors rejoiced positive news related to coronavirus vaccine candidates. AstraZeneca and the University of Oxford announced promising results from their covid-19 vaccine candidate in Phase 1 clinical

By |2020-07-27T16:02:23+05:30July 27th, 2020|Finance|0 Comments

Wall Street Remains Volatile as Vaccine Optimism Gets Dampened by Rising Infections

US stocks started the week on a strong note on Monday last week, as investors cheered news of positive trial results for covid-19 vaccine candidates. Pfizer reported that two of its vaccine candidates had been awarded FDA’s Fast Track designation. Moderna joined in to issue some encouraging data for its covid-19 candidate, showing that the

By |2020-07-20T17:11:09+05:30July 20th, 2020|Finance|0 Comments