S&P lost more than 85 points
Futures contracts attached to the main U.S. stock averages dropped through during early morning speculation. Dow Jones Industrial Average futures lost more than 165 points. S&P 500 and Nasdaq-100 futures are likewise exchanged in negative areas.
The movements appeared following a more moderate day through Wednesday’s normal trading session while concerns covering the economic trajectory from the Federal Reserve appeared to reflect on investor sentiment later in the day.
The S&P 500 dropped 0.4% to 3,374.85 while the Dow Jones Industrial Average slipped almost 90 points, to end at 27,692.88. The Nasdaq Composite hesitated, dropping 0.6% to 11,146.46.
Apple reached $2T Market cap
Apple achieved a remarkable milestone yesterday becoming the first U.S. company to reach a market cap of $2 trillion. With that breakthrough, the mobile maker giant is now officially registered as the company that doubled its valuation in just over two years. The stock advanced nearly 60% in 2020 and it seems to continue to be responsible for the market’s bullish momentum, lifting it from its springtime low.
Oil falls due to demand fears
Oil prices dropped today while major producers warned of danger regarding demand improvement if the coronavirus pressure is extended, and U.S. crude inventories fall less than foreseen.
Brent crude lost 36 cents, at $45.01 a barrel having slid 0.2% in the previous trading session.
U.S. oil fell 38 cents, at $42.55 a barrel, after going higher yesterday.
Gold gained almost 0.9%
Gold today jumped back from its previous trading session after the U.S. Federal Reserve contributed to increased anxieties regarding recovery from the coronavirus economic slowdown, which weighed on risk sentiment.
Spot gold gained 0.9% at $1,946.09 per ounce after sinking more than 3.5% to a near 7-day low yesterday. U.S. gold futures dropped 0.9% to $1,952.90.
The above content is considered to be market commentary information and shall not be perceived as independent investment research or investment advice.