As always, context has been a game changer in stock movements. Coronavirus is still influencing trader sentiment and international markets since cases are on the rise in both the USA and Europe. Florida and California are leading the numbers of the second wave of COVID-19 in the United States.
As for Europe, BBC published that European Union leaders have met face to face to agree on a funding amount to continue to combat this virus. Let’s see how this has been affecting the market.
How was this week’s market close?
Today, the market closed with many stocks just grazing the finish trying to reach positive highs. Most companies and indices are on the low.
In the entertainment sector, Netflix continues to fall and closed with a negative 6,52%. Peter Cohan from Forbes described this as a good moment to purchase this company’s stocks, saying that “investors who care about Netflix’s future should look at this as a buying opportunity”.
How the world’s most important indices reacting to the coronavirus context
The Dow or DJIA closed with negative numbers at 0.23%. That would mean it went down 62.76 points closing at 26,671.95.
Yesterday, the Dow also fell a total of 135.39 points, closing at 26,734.71. It’s percentage was negative at 0.3%. Compared to last week Dow rose a total of 2.3%.
The important American index, S&P 500, increased positively 0.28%. SPX summed up a total of 9.16 points, closing at 3,224.73. In total, it gained 1.3% since last week’s closing hour.
Lastly, New York’s major stock market declined 0.7%. So Nasdaq closed at 10,473.83 with around 76.66 points. It lost 1.1% in total.
COVID-19, consumer sentiment and the market
The sentiment is iffy, just like the COVID-19 infections which are constantly changing the market. In a single day, the United States had a new record of Covid-19 cases with a total of 70,000. That sums up to a total of 3.58 million cases with 138,360 deaths.
Europe is in second place, and the leaders met in the first European Union coronavirus summit. Usula von der Leyen said that “the stakes couldn’t be higher. The whole world is watching us”. And so is the market.