Wall Street Close: Benchmarks start off the week in the red


  • Dow Jones Industrial Average lost 2%.
  • The S&P 500 fell 1.28%.
  • The Nasdaq Composite dropped 0.22%.

US benchmarks ended lower on Monday as the coronavirus spreads and lockdowns in Europe along with the possible delays in fresh stimulus from Congress trobles investors.

Investor's fears over the US economy facing a longer road to recovery is weighing on markets to start the week.

Congress has for weeks remained deadlocked over the size and shape of another coronavirus-response bill, on top of the roughly $3 trillion already enacted into law  

The death of US Supreme Court Justice Ruth Bader Ginsburg likely means that the passage of another stimulus package in Congress less likely before the US presidential election.

Consequently, the Dow Jones Industrial Average lost 2% to end at 27,102.99 points ,while the S&P 500 fell 1.28% to 3,276.87. The Nasdaq Composite dropped 0.22%, to 10,769.20.

The CBOE Market Volatility index VIX, Wall Street's fear gauge, shot up to its highest level in nearly two weeks.

As for US data, the Chicago Fed’s National Activity indicator for August pointed to a sharp loss of momentum in the recovery last month. It fell to 0.79 from 2.54 in July.

Production related indicators added 0.23 to the index, down from 1.26 the prior month.

Some normalisation is to be expected after manufacturing recovered impressively as the lockdown eased. Forty-five of the 85 indicators in the index were positive while 40 were negative,

analysts at ANZ bank explained. 

SP 500 index levels

 

Overview
Today last price 3247.5
Today Daily Change -64.00
Today Daily Change % -1.93
Today daily open 3311.5
 
Trends
Daily SMA20 3427.78
Daily SMA50 3349.72
Daily SMA100 3195.23
Daily SMA200 3104.9
 
Levels
Previous Daily High 3373.75
Previous Daily Low 3291.5
Previous Weekly High 3428.75
Previous Weekly Low 3291.5
Previous Monthly High 3522.75
Previous Monthly Low 3264.25
Daily Fibonacci 38.2% 3322.92
Daily Fibonacci 61.8% 3342.33
Daily Pivot Point S1 3277.42
Daily Pivot Point S2 3243.33
Daily Pivot Point S3 3195.17
Daily Pivot Point R1 3359.67
Daily Pivot Point R2 3407.83
Daily Pivot Point R3 3441.92

 

 

 

 

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