{"id":293350,"date":"2020-08-25T00:56:33","date_gmt":"2020-08-24T14:56:33","guid":{"rendered":"https:\/\/www.gomarketingteam.com\/articles\/overnight-on-wall-street-tuesday-25-august-2020\/"},"modified":"2021-02-19T12:13:32","modified_gmt":"2021-02-19T01:13:32","slug":"overnight-on-wall-street-tuesday-25-august-2020","status":"publish","type":"post","link":"https:\/\/www.gomarkets.com\/en\/daily-news\/overnight-on-wall-street-tuesday-25-august-2020\/","title":{"rendered":"Overnight on Wall Street: Tuesday 25 August 2020"},"content":{"rendered":"<blockquote><p><strong>By Deepta Bolaky<\/strong><br \/>\n<img style=\"float: left; width: 20px; padding-top: 4px;\" src=\"https:\/\/www.gomarkets.com\/wp-content\/uploads\/2018\/08\/twitter.png\" \/>\u00a0<a href=\"https:\/\/twitter.com\/DeeptaGOMarkets\">@DeeptaGOMarkets<\/a><\/p><\/blockquote>\n<h4><strong>Equity Markets<\/strong><\/h4>\n<p><span style=\"font-weight: 400;\">Ahead of the most-awaited event for the week &#8211; Jackson Hole Symposium whereby investors will have updates from central bankers, policymakers and economists around the world, global stocks advanced higher on the back of vaccine-related optimism.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Wall Street ended in positive territory as US stocks rose to new record highs. S&amp;P500 and Nasdaq Composite advanced to new highs on Monday.<\/span><\/p>\n<ul>\n<li style=\"font-weight: 400;\"><span style=\"font-weight: 400;\">The Dow Jones Industrial Average added 378 points or 1.4% to 28,308.<\/span><\/li>\n<li style=\"font-weight: 400;\"><span style=\"font-weight: 400;\">S&amp;P 500 rose by 34 points or 1.0% to 3,431.<\/span><\/li>\n<li style=\"font-weight: 400;\"><span style=\"font-weight: 400;\">Nasdaq Composite added 68 points or 0.6% to 11,380.<\/span><\/li>\n<\/ul>\n<p><img loading=\"lazy\" class=\"alignnone wp-image-252545\" src=\"https:\/\/www.gomarkets.com\/au\/wp-content\/uploads\/2020\/08\/bad-breath_25-Aug-20.jpg\" alt=\"\" width=\"650\" height=\"367\" \/><br \/>\nSource: Bloomberg<\/p>\n<h4><strong>Currency Markets<\/strong><\/h4>\n<p><span style=\"font-weight: 400;\">In the FX space, major currencies were weaker against the greenback. The US dollar index which tracks the performance of the greenback against a basket of currencies rose above the 93 mark.\u00a0<\/span><\/p>\n<p><img loading=\"lazy\" class=\"alignnone wp-image-253498\" src=\"https:\/\/www.gomarkets.com\/au\/wp-content\/uploads\/2020\/08\/Currency-market_25-Aug-20.jpg\" alt=\"\" width=\"650\" height=\"332\" \/><br \/>\nSource: GO MT4<\/p>\n<p><span style=\"font-weight: 400;\">Major pairs traded in familiar levels ahead of the Fed Chair Jerome speech at the Economic Symposium at Jackson Hole. The symposium is gearing up to be a dollar-event. On the economic front, Monday was relatively subdued with a few releases:<\/span><\/p>\n<p><b>New Zealand: <\/b><i><span style=\"font-weight: 400;\">Retail sales values fell a historic 15 percent in the June 2020 quarter during the COVID-19 lockdown, the biggest drop on record in figures going back 25 year<\/span><\/i><span style=\"font-weight: 400;\">s.<\/span><\/p>\n<p><img loading=\"lazy\" class=\"alignnone wp-image-254818\" src=\"https:\/\/www.gomarkets.com\/au\/wp-content\/uploads\/2020\/08\/percentage_25-Aug-20.jpg\" alt=\"\" width=\"651\" height=\"298\" srcset=\"https:\/\/www.gomarkets.com\/wp-content\/uploads\/2020\/08\/percentage_25-Aug-20.jpg 930w, https:\/\/www.gomarkets.com\/wp-content\/uploads\/2020\/08\/percentage_25-Aug-20-300x137.jpg 300w, https:\/\/www.gomarkets.com\/wp-content\/uploads\/2020\/08\/percentage_25-Aug-20-768x352.jpg 768w, https:\/\/www.gomarkets.com\/wp-content\/uploads\/2020\/08\/percentage_25-Aug-20-600x275.jpg 600w\" sizes=\"(max-width: 651px) 100vw, 651px\" \/><\/p>\n<p><b>United States:<\/b> <i><span style=\"font-weight: 400;\">The Chicago Fed National Activity Index (CFNAI) was +1.18 in July, down from +5.33 in June. This reading came in worse than the market expectation of 2.73.<\/span><\/i><\/p>\n<h4><b>Commodities<\/b><\/h4>\n<p><span style=\"font-weight: 400;\">Crude oil prices traded in familiar ranges despite a stronger US dollar. The positive vaccine news supported the oil market ahead of the weekly oil reports. As of writing, WTI Crude oil (Nymex) and Brent Crude (ICE) were trading higher around $42.53 and $45.17 respectively. <\/span><\/p>\n<h4><b>Gold<\/b><\/h4>\n<p><span style=\"font-weight: 400;\">As risk sentiment improves lifted by vaccine-related optimism, the precious metal is struggling to edge higher. The XAUUSD pair has consolidated into a tight range around the $1,930.<\/span><\/p>\n<p><img loading=\"lazy\" class=\"alignnone size-full wp-image-253483\" src=\"https:\/\/www.gomarkets.com\/au\/wp-content\/uploads\/2020\/08\/gold_25-Aug-20.jpg\" alt=\"\" width=\"650\" height=\"650\" \/><br \/>\nSource: GO MT4<\/p>\n<p><strong>By Deepta Bolaky<\/strong><br \/>\n<img style=\"float: left; width: 20px; padding-top: 4px;\" src=\"https:\/\/www.gomarkets.com\/wp-content\/uploads\/2018\/08\/twitter.png\" \/>\u00a0<a href=\"https:\/\/twitter.com\/DeeptaGOMarkets\">@DeeptaGOMarkets<\/a><\/p>\n<p><strong>Key upcoming events<\/strong><\/p>\n<ul>\n<li style=\"font-weight: 400;\"><span style=\"font-weight: 400;\">Gross Domestic Product, IFO \u2013 Business Climate, Current Assessment and Expectations (Germany)<\/span><\/li>\n<li style=\"font-weight: 400;\"><span style=\"font-weight: 400;\">Housing Price Index, S&amp;P\/Case-Shiller Home Price Indices, New Home Sales and Consumer Confidence (US)<\/span><\/li>\n<\/ul>\n<table style=\"height: 171px;\" border=\"1\">\n<tbody>\n<tr style=\"height: 75px;\">\n<td style=\"text-align: center; width: 728px; height: 75px;\" colspan=\"7\"><strong>Wednesday, 26 August 2020<\/strong><strong style=\"font-family: inherit; font-size: inherit;\">\u00a0<\/strong><strong><br \/>\n<\/strong>Indicative Index Dividends<br \/>\n<em><sup>Dividends are in Points<\/sup><\/em><\/td>\n<\/tr>\n<tr style=\"height: 24px;\">\n<td style=\"width: 104px; height: 24px;\" width=\"100\"><strong>ASX200<\/strong><\/td>\n<td style=\"width: 104px; height: 24px;\" width=\"100\"><strong>WS30<\/strong><\/td>\n<td style=\"width: 103px; height: 24px;\" width=\"100\"><strong>US500<\/strong><\/td>\n<td style=\"width: 101px; height: 24px;\" width=\"100\"><strong>US2000<\/strong><\/td>\n<td style=\"width: 108px; height: 24px;\" width=\"100\"><strong>NDX100<\/strong><\/td>\n<td style=\"width: 104px; height: 24px;\" width=\"100\"><strong>CAC40<\/strong><\/td>\n<td style=\"width: 104px; height: 24px;\" width=\"100\"><strong>STOXX50<\/strong><\/td>\n<\/tr>\n<tr style=\"height: 24px;\">\n<td style=\"width: 104px; height: 24px;\" width=\"100\">3.783<\/td>\n<td style=\"width: 104px; height: 24px;\" width=\"100\">0<\/td>\n<td style=\"width: 103px; height: 24px;\" width=\"100\">0.025<\/td>\n<td style=\"width: 101px; height: 24px;\" width=\"100\">0.023<\/td>\n<td style=\"width: 108px; height: 24px;\" width=\"100\">0.235<\/td>\n<td style=\"width: 104px; height: 24px;\" width=\"100\">0<\/td>\n<td style=\"width: 104px; height: 24px;\" width=\"100\">0<\/td>\n<\/tr>\n<tr style=\"height: 24px;\">\n<td style=\"width: 104px; height: 24px;\" width=\"100\"><strong>ESP35<\/strong><\/td>\n<td style=\"width: 104px; height: 24px;\" width=\"100\"><strong>ITA40<\/strong><\/td>\n<td style=\"width: 103px; height: 24px;\" width=\"100\"><strong>FTSE100<\/strong><\/td>\n<td style=\"width: 101px; height: 24px;\" width=\"100\"><strong>DAX30<\/strong><\/td>\n<td style=\"width: 108px; height: 24px;\" width=\"100\"><strong>HK50<\/strong><\/td>\n<td style=\"width: 104px; height: 24px;\" width=\"100\"><strong>JP225<\/strong><\/td>\n<td style=\"width: 104px; height: 24px;\" width=\"100\"><strong>INDIA50<\/strong><\/td>\n<\/tr>\n<tr style=\"height: 24px;\">\n<td style=\"width: 104px; height: 24px;\" width=\"100\">0<\/td>\n<td style=\"width: 104px; height: 24px;\" width=\"100\">0<\/td>\n<td style=\"width: 103px; height: 24px;\" width=\"100\">0<\/td>\n<td style=\"width: 101px; height: 24px;\" width=\"100\">0<\/td>\n<td style=\"width: 108px; height: 24px;\" width=\"100\">0<\/td>\n<td style=\"width: 104px; height: 24px;\" width=\"100\">0<\/td>\n<td style=\"width: 104px; height: 24px;\" width=\"100\">2.682<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<p><a href=\"https:\/\/www.gomarkets.com\/forex-education-courses\/\" target=\"_blank\" rel=\"noopener noreferrer\"><br \/>\n<img src=\"https:\/\/www.gomarkets.com\/wp-content\/uploads\/2019\/02\/Next-Steps-Blog-Bottom-Banner.jpg\" \/><\/a><\/p>\n<p style=\"font-weight: 400;\"><em>Disclaimer:\u00a0\u00a0The articles are from GO Markets analysts, \u00a0based on their independent analysis or personal experiences. Views or opinions or trading styles expressed are of their own; \u00a0should not be taken as either representative of or shared by GO Markets. \u00a0Advice (if any), \u00a0are of a \u2018general\u2019 nature and not based on your personal objectives, financial situation or needs.\u00a0 You should therefore consider how appropriate the advice (if any) is to your objectives, financial situation and needs, before acting on the advice. \u00a0If the advice relates to acquiring a particular financial product, you should obtain and consider the Product Disclosure Statement (PDS) and Financial Services Guide (FSG) for that product before making any decisions.<\/em><\/p>\n","protected":false},"excerpt":{"rendered":"<p>By Deepta Bolaky \u00a0@DeeptaGOMarkets Equity Markets Ahead of the most-awaited event for the week &#8211; Jackson Hole Symposium whereby investors will have updates from central bankers, policymakers and economists around the world, global stocks advanced higher on the back of vaccine-related optimism.\u00a0 Wall Street ended in positive territory as US stocks rose to new record [&hellip;]<\/p>\n","protected":false},"author":15,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":[],"categories":[129],"tags":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v16.8 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Overnight on Wall Street: Tuesday 25 August 2020 - GO Markets<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.gomarkets.com\/en\/daily-news\/overnight-on-wall-street-tuesday-25-august-2020\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Overnight on Wall Street: Tuesday 25 August 2020 - GO Markets\" \/>\n<meta property=\"og:description\" content=\"By Deepta Bolaky \u00a0@DeeptaGOMarkets Equity Markets Ahead of the most-awaited event for the week &#8211; 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