Market Summary: The long and the short of it.
US Markets: Equity markets were again dominated by President Trump’s remarks over the weekend, dashing investor optimism that Washington and Beijing would soon reach a deal to end the paralyzing trade war. Both the S&P 500 and the New York Composite (NYA) dove into the red on the opening as investors looked to get a bearing on the markets and seek any kind of positive news. The positive news came from the most unlikely of sources, Boeing (BA) +4.55% and Boots (WBA) +5.08% rescued the Dow 30, the S&P 500 and the New York Composite (NYA) followed suit to salvage the day. They finished at 3087 (-0.20%) and 13,388 (-0.15%) respectively.
U.S. Treasuries: The Treasury market was closed yesterday in recognition of WWI Armistice Day. Lest we forget…
Despite the global uncertainty, the escalation of unrest and the weakness in the U.S. Dollar, Gold sold off in today’s trading to finish at $1456 an ounce for a loss of -0.52%, its lowest point since early August. Silver, on the other hand, managed to scratch out a gain of +0.37% to finish at $16.86 an ounce after last week’s pummeling. Crude Oil (WTI) neither went north nor south in Monday’s trading and finishing the day where it had started at $56.68 a barrel.
European markets finished mixed as of the most recent closing prices. The French CAC 40 gained +0.07%, while the UK’s FTSE 100 led the German DAX lower. They fell -0.42% and 0.23% respectively.
Asian markets crashed into the red with the escalation of violence in Hong Kong. Hong Kong’s Hang Seng finished the day for a loss of -2.56% leading the region. China’s Shanghai Composite was also dented because of the news emanating from Hong Kong and finished at -0.56%. Japan’s Nikkei 225 was up 0.16% for the day.
South and Central American markets finished mixed as of the most recent closing prices. Brazil’s Bovespa gained 0.69%, while Mexico’s IPC fell by -0.24%.
Cryptocurrencies were mixed since Friday’s trading, with Bitcoin-Cash and Litecoin higher, but Ripple and Bitcoin lower. Bitcoin finished the day at 8737 for a loss of -1.15%.
Volatility shot up today amidst the uncertainty. The CBOE Volatility Index (VIX) finished at 12.69 for a gain of +5.14%