U.S. Stock Market on Monday: S&P 500 erased loss from early quarter with a Historic Rally

By June 11, 2020News

The U.S. stock market has opened this week with a positive outcome as major stocks wraps up market with sharp gains. The most notable is S&P 500 who wipes its whole 2020 loss with a closed to 1.2% for its 6th positive day.

The market started with a scorching rally which pushed S&P500 greenish for this year as easing lockdown supports economic optimism. It seems that the normal way is making its toll on most investors but they seem to have adapted it easily.

Stock

–        The S&P 500 increased 1.2% as market wraps up 4 p.m.

–        Nasdaq Composite strengthened by 1.1% for its sixth straight positive day.

–        The Dow Jones Industrial Average closed up by 1.7%.

–        The MSCI Asia Pacific Index climbed 1%.

–        The Stoxx Europe 600 Index fell 0.3%.

The positivity in the market came after continues high momentum gets going this past few weeks. Investors are thrilled by the reopening of the economy and the slight changes on the unemployment report from last Friday forecast which fell by 13.3% as of May 2020.

Bonds

–        The yield on 10-year Treasuries decreased two basis points to 0.87%.

–        The yield on 30-year Treasuries edged higher to 1.6819%.

–        Germany’s 10-year yield decreased four basis points to -0.32%.

–        Britain’s 10-year yield declined two basis points to 0.334%.

Oil price is a bit down as market wraps up today. Gold on the other hand is up by 1.4% to $1,706.10 per ounce. US Dollar Index fell frustratingly by $96.30 marking its 8th day negative mark.

–        West Texas Intermediate crude decreased by 3.4% to $38.21 per barrel.

–        Brent crude is down by 3.55% to $40.80 per barrel.

–        Mars US declined by 3.37% to $39.04 per barrel.

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