Skip to content Skip to footer
S&P500, NASDAQ up as stimulus talks resume

Today’s Waves – 8th October

S&P500, NASDAQ up as stimulus talks resume

After calling off talks over a COVID-19 aid bill on Tuesday, President Trump has confirmed that discussions with the Democrats will once again resume.

This news boosted stock markets on Thursday, as the release of Initial Jobless Claims also raised hopes of an economic recovery, with claims coming in at 840K vs 849K last week.

The Dow Jones was up 0.40%, the S&P 500 rose 0.68% and the NASDAQ gained 0.60% in mid-day trading. IBM was one of the day’s biggest individual movers rising as much as 6.8% after saying it will be splitting into two public organisations.

Bullish BoE sends FTSE 100 higher

The FTSE 100 rallied on Thursday as Bank of England Governor Andrew Bailey gave a speech to the European Commission.

In his speech, Bailey stated, “We (BoE) must use policy actively and aggressively, and we have done that”, which helped move Sterling.

The Governor went on to add that, “We are by no means out of firepower … in terms of our policy tools, and we will use that firepower as appropriate, properly and strongly in response to second and third waves, where we think it is necessary”.

The FTSE 100 rose 0.53% as a result.

COVID-19 the key topic in Vice Presidential debates

Last night’s Vice Presidential debate mainly centered around President’s Trump’s handling of the coronavirus outbreak.

Democratic VP candidate Kamala Harris called the handling “the greatest failure of any presidential administration” in history. The U.S. has registered close to 7.6 million cases, with over 200,000 deaths since the outbreak began.

Eyes now turn to the next Presidential debates, however this may be delayed as US President Donald Trump has refused to take part in any virtual debates, which many believe he should, after recently testing positive for COVID-19.

Quote of the day – “Frankly, I don’t see markets; I see risks, rewards, and money.” –

To stay up to date with the markets we encourage traders to view our Trade Gate Hub for more real time insights into Crude, Gold and many other markets.

Eliman Dambell

Senior Market Analyst
edambell@tvmarkets.com

Tradeview Ltd. is not a portfolio manager or an investment advisor. This Market Report is for informational purposes only. Any statements made or opinions voiced in this Market Report do not constitute investment advice. The Tradeview Ltd. Market Report does not constitute a solicitation to buy or sell in the financial markets. Although the information contained in the Market Report comes from trusted sources, Tradeview Ltd. is not responsible for guaranteeing the accuracy, timeliness, completeness, or fitness of such sources. Tradeview Ltd. shall not be responsible for and disclaims all liability for any losses which may be suffered from access and use of the contents of the Tradeview Ltd. Market Report. Trading any financial instrument on margin, using leverage or otherwise involves considerable risk. Therefore, before deciding to participate in any style of trading, you should carefully consider your investment objectives, level of experience and risk appetite. Most importantly, do not invest money you cannot afford to lose. Consulting with your investment counselor, attorney, accountant or other professional upon whom you rely for guidance as to the appropriateness of an investment in any style of trading is recommended.

Tradeview Ltd.

Is licensed to carry on securities investment business and is regulated by the Cayman Islands Monetary Authority (CIMA) as a full securities broker-dealer. Tradeview conducts business pursuant to the Cayman Islands Securities Investment Business Law (SIBL) and its activities fall under the direct supervision of the Investments and Securities Division of CIMA.
Headquarters: 5th Floor Anderson Square, 64 Shedden Road, Georgetown, Grand Cayman, Cayman Islands KY1-1002, BWI.
Website: www.tradeviewforex.com

Tradeview Asia Ltd.

Is licensed and regulated by the Labuan Financial Services Authority (FSA) as a Money Broker, registration number LL15870 licensed to facilitate transactions in foreign exchange pursuant to Labuan Financial Services and Securities Act 2010, the Labuan Companies Act 1990 and the Labuan Business Activity Tax Act 1990.
Headquarters: International Business Financial Centre at Office 5, Jamie Business Center I, Unit F10, First Floor, Paragon Labuan, Jalan Mustapha, 87000 Labuan F.T.
Website: www.tvmgloballtd.com

Tradeview Europe Ltd.

Is licensed as a Category 2 Investment Service Company and is regulated by the Malta Financial Services Authority (MFSA). The Malta Financial Services Authority (MFSA) is the single regulator for financial services in Malta. MFSA is a fully autonomous public institution and reports to Parliament on an annual basis. The MFSA is a member of the European Banking Authority (EBA), the European Securities and Markets Authority (ESMA) and the International Organization of Securities Commissions (IOSCO) and is a signatory of the Multilateral Memorandum of Understanding with other European regulatory Institutions. Tradeview is authorized to provide financial services across multiple asset classes and is passported in the EU/EEA under MiFID II (EU Markets in Financial Instruments Directive).
Headquarters: 157 Archbishops Street, Valletta VLT Malta 1440.
Website: www.tradeview.eu

Tradeview Financial Markets S.A.C Global

Is authorized to conduct business pursuant to and in compliance with the General Law of Companies (LGS) promulgated by the government of Peru. Tradeview Financial Markets S.A.C is registered with the National Superintendence of Public Registries (SUNARP), company number 13089531. Tradeview Financial Markets S.A.C provides financial services in selected OTC derivative markets in compliance with all applicable government regulations.
Headquarters: Los Mirtos 239 Urb. San Eugenio, Lince, Lima, Perú.
Website: www.tradeviewlatam.com