Small Businesses Quietly Shutter & Markets Rally Mid-Week – Daily Financial News Summary For Wednesday, August 12, 2020

Bonds, Business Education, ETFS, Investing, News, Real Estate, Stock Market, Trader Talk
Business Credit Cards

The markets went for a mid-week rally Wednesday, with the Dow Jones closing up 1.05%, the Nasdaq climbed 2.13%, while the S&P 500 gained 1.4%, but fell just shy of hitting a record close. The European Stoxx 600 rose 1.11%.

Facebook, Apple and Amazon enjoyed climbs of 1.4%, 3.3% and 2.6% Wednesday, while Netflix and Microsoft added 1.8% and 2.8%, respectively.

In other trends, Bloomberg news reported that small businesses are closing, but no one is tracking the numbers, “Yelp Inc., the online reviewer, has data showing more than 80,000 permanently shuttered from March 1 to July 25. About 60,000 were local businesses, or firms with fewer than five locations. About 800 small businesses did indeed file for Chapter 11 bankruptcy from mid-February to July 31, according to the American Bankruptcy Institute, and the trade group expects the 2020 total could be up 36% from last year.”

The euro gained 0.4% to $1.1788, the biggest advance in a week. Meanwhile, the Bloomberg Dollar Spot Index fell 0.2% to 1,179.14, which is the largest fall in a week, and the Japanese yen sunk 0.4% to 106.89 per dollar, which is the weakest in three weeks.

In bond news, he yield on 10-year Treasuries climbed two basis points to 0.66%, the highest in more than five weeks.

West Texas Intermediate crude increased 2.3% to $42.56 a barrel, the highest in about five months on the largest climb in more than three weeks.

 

close

Subscribe to our free daily news summary:
Call Put Strike Insights

close

Subscribe to our free daily news summary:
Call Put Strike Insights

Products You May Like

Articles You May Like

StocksForYou Stock: The Ultimate Stock Recommendation Service for High Growth Stocks
Choosing The Best Credit Card for your Spending Habits
Investors Who Invested In COVID-19 Hit Bonds Rewarded With Huge Returns
Bitcoin Ready To Rally To $70,000 level As Institutional Demand Remains High
Cryptocurrencies Continue To Perform Well Boosting Revenue For Companies Despite Market Volatility
Cannabis ETFs Surge On Marijuana Legalization in New York As Bitcoin ETFs continue to Gather Steam
Saudi Arabia To Increase Oil Prices In Asian Market As OPEC+ Plans To Ease Output Curbs

Leave a Reply

Your email address will not be published. Required fields are marked *