Global Stock Market Today
U.K. announced new restrictive measures and it has asked the public to work from home where possible. The European markets were already expecting this news, hence we are seeing the European indices trading to the upside.
As for the global stocks, the picture still looks weak. Investors are largely worried about these new restrictive measures and if they will translate into national lockdowns. Such a scenario could easily undo all the hard work that was carried out during the summer months.
Over in Asia, airline stocks took most of the beating and most of the Asian indices closed in negative territory. The Hang Seng index fell 1.00%. The Shanghai stock index also moved lower by 1.25%, while the Korean KOSPI declined 2.38%. The Japanese Nikkei Index increased by 0.18%.
Dow Index and S&P500 Index: Market Breadth
The Dow Jones’ market breadth weakened yesterday. 63% of the Dow Jones stocks traded above their 200-day moving average yesterday.
The S&P 500 stock breadth also continued to show weakness. 53% of the shares traded above their 200-day moving average yesterday.
Stock Market Rally
The S&P 500 stock index closed firmly in the red for the fourth consecutive day yesterday, and the index fell by 1.16%. The industrial sector led the index lower, and 8 out of 11 sectors closed lower.
Paypal stock contributed the biggest gain, soaring 4.06%. Federal Realty stock was the largest drag; it fell by 10.03%. The S&P 500 stock index is up 8.3% during this quarter.
The Dow index continued its downward yesterday, and the Dow stocks moved the index lower by 1.84%. 4 stocks of the Dow Jones Index increased in value, and 26 shares of the Dow index moved lower. Apple stock advanced higher by 3.03%, and was the biggest mover for the Dow. UnitedHealth stock dropped 2.87%, and was the biggest drag for Dow Jones industrial average index.
The NASDAQ composite, a tech-savvy index, soared 0.40% yesterday.