London Capital Group | Nov 25, 2020 08:58
The Dow Jones Industrial Average, America's oldest equity benchmark has closed above 30,000 for the first time on record.
MARKETS
News
• Japan’s Nikkei is up nearly 2% as Asia-Pacific shares mostly rise after Dow surges to a new record;
• Airlines and cruise stocks surged on Tuesday as stocks tied to an economic recovery continued to rise after a series of positive vaccine announcements. Shares of American Airlines (NASDAQ:AAL) and United Airlines both jumped more than 9%, while Carnival (NYSE:CCL) led the way for cruise stocks with an 11% gain;
• Tesla jumped more than 6% to hit a record high as investors continue to favour the stock. The move pushed Tesla’s market cap above $500 billion for the first time on record. Shares have gained more than 550% this year;
• Nikola shares fell 8% after-hours as CEO failed to reassure investors GM won’t pull out of $2 billion deal. The stock gained 17% in regular hours.
What Else?
Earnings update
The Day Ahead
Quote of the day
“Have no fear of perfection. You’ll never reach it.” – Salvador Dali.
WRAP
Markets
The Dow Jones rallied on Tuesday, breaking above 30,000 for the first time amid positive vaccine news, hope for a strong economic recovery in 2021 and easing of political uncertainty as the Trump administration approved the start of the presidential transition. The Dow surged 1.5% with Energy and Financial stocks leading the index. The small-cap Russell 2000 also hit an all-time high, gaining 1.9%. European markets close higher amid vaccine optimism and Biden transition progress. Precious metals were weak again while oil surged more than 4%. Bitcoin closed at a record high (not quite intraday high), above the $19,100 close on Dec 16th 2017.
Macro
U.S Consumer Confidence tumbled as COVID cases are soaring and lockdowns are crushing small businesses.
Original Post
Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.