{"id":293450,"date":"2020-11-18T00:05:40","date_gmt":"2020-11-17T13:05:40","guid":{"rendered":"https:\/\/www.gomarketingteam.com\/articles\/overnight-on-wall-street-wednesday-18-november-2020\/"},"modified":"2021-02-19T12:13:09","modified_gmt":"2021-02-19T01:13:09","slug":"overnight-on-wall-street-wednesday-18-november-2020","status":"publish","type":"post","link":"https:\/\/www.gomarkets.com\/en\/daily-news\/overnight-on-wall-street-wednesday-18-november-2020\/","title":{"rendered":"Overnight on Wall Street: Wednesday 18 November 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;\">Global equities pulled back from record highs following new lockdowns and restrictions triggered by the continuous surge in the number of coronavirus cases. European markets ended on a mixed note while major US equities finished in the red.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Investors were mostly risk-off in the US session and Wall Street ended in negative territory:<\/span><\/p>\n<ul>\n<li style=\"font-weight: 400;\"><span style=\"font-weight: 400;\">The Dow Jones Industrial Average lost 167 points or 0.6% to 29,783.<\/span><\/li>\n<li style=\"font-weight: 400;\"><span style=\"font-weight: 400;\">S&amp;P 500 fell by 17 points or 0.5% to 3,610.\u00a0<\/span><\/li>\n<li style=\"font-weight: 400;\"><span style=\"font-weight: 400;\">Nasdaq Composite dropped by 25 points or 0.2% to 11,899.<\/span><\/li>\n<\/ul>\n<p><span style=\"font-weight: 400;\">While tech giants like Apple, Facebook and Microsoft fell by around 1 % or more, Tesla and Amazon rose following their latest announcements:<\/span><\/p>\n<ul>\n<li style=\"font-weight: 400;\"><span style=\"font-weight: 400;\">The <\/span><b>Launch of Amazon Pharmacy<\/b><span style=\"font-weight: 400;\"> on Tuesday is another game-changer for the online giant. After rising higher, its share price pared gains to close relatively flat at $3,136.<\/span><\/li>\n<li style=\"font-weight: 400;\"><b>Tesla is set to join the S&amp;P 500<\/b> on December 21. The electric-car maker\u2019s share price rose by more than 8% to $441.61.<\/li>\n<\/ul>\n<h4><b>Currency Markets\u00a0<\/b><\/h4>\n<p><span style=\"font-weight: 400;\">In the FX space, the price action was also driven by the fears of slower growth following the global surge in COVID-19 cases. Major currencies were mixed against the US dollar. Safe-haven currencies advanced higher while commodity-linked currencies edged lower.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Amid a relatively muted economic calendar, the US Retail Sales stood out. Retail Sales were up by 0.3% from September 2020, and came below the expectations of 0.5% and lower than the previous month of 1.6%. Retail Sales is a leading indicator which provides a glimpse into the upcoming quarterly GDP number and helps to gauge consumer spending and the impact of COVID-19 and more nationals and localised lockdowns on businesses and consumers.<\/span><\/p>\n<h4><strong>Commodities<\/strong><\/h4>\n<p><span style=\"font-weight: 400;\">Crude oil prices pared some recent gains following the broad risk-off sentiment prevailing in the markets on Tuesday. The global surge in the number of coronavirus infections renewed fears on the global oil demand outlook. Additionally, crude oil prices were underpinned by the larger-than-expected surge in the crude oil inventory reported by the American Petroleum Institute. As of writing, WTI Crude oil (Nymex) and Brent Crude (ICE) were trading at around $41.23 and $43.75 respectively.\u00a0<\/span><\/p>\n<h4><img loading=\"lazy\" class=\"alignnone size-full wp-image-257817\" src=\"https:\/\/www.gomarkets.com\/au\/wp-content\/uploads\/2020\/09\/gold_100920.jpg\" alt=\"\" width=\"700\" height=\"520\" \/><strong>Gold<\/strong><\/h4>\n<p><span style=\"font-weight: 400;\">The precious metal remained depressed by the recent positive vaccine news and the gridlock in Washington despite the concerns on the virus front.\u00a0 As of writing, the XAUUSD pair is trading around $1,882.\u00a0<\/span><\/p>\n<p><img loading=\"lazy\" class=\"alignnone wp-image-261429\" src=\"https:\/\/www.gomarkets.com\/au\/wp-content\/uploads\/2020\/11\/image1-18-nov-20.png\" alt=\"\" width=\"700\" height=\"371\" \/><br \/>\nSource: GO MT4<br \/>\n<i><\/i><i><\/i><\/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;\">RBA Governor Lowe Speech, Westpac Leading Index, HIA New Home Sales and Wage Price Index (Australia)<\/span><\/li>\n<li style=\"font-weight: 400;\"><span style=\"font-weight: 400;\">Merchandise Trade Balance Total, Imports and Exports (Japan)<\/span><\/li>\n<li style=\"font-weight: 400;\"><span style=\"font-weight: 400;\">Consumer Price Index, Retail Price Index, and PPI Core Output (UK)<\/span><\/li>\n<li style=\"font-weight: 400;\"><span style=\"font-weight: 400;\">Consumer Price Index (Eurozone)<\/span><\/li>\n<li style=\"font-weight: 400;\"><span style=\"font-weight: 400;\">BoE\u2019s Haldane Speech (UK)<\/span><\/li>\n<li style=\"font-weight: 400;\"><span style=\"font-weight: 400;\">10-yr Bond Auction (Germany)<\/span><\/li>\n<li style=\"font-weight: 400;\"><span style=\"font-weight: 400;\">BoC\u2019s Wilkins speech, and BoC Consumer Price Index (Canada)<\/span><\/li>\n<li style=\"font-weight: 400;\"><span style=\"font-weight: 400;\">Building Permits, Housing Starts, and Fed\u2019s Williams Speech (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>Thursday, 19 November 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\">0<\/td>\n<td style=\"width: 104px; height: 24px;\" width=\"100\">9.672<\/td>\n<td style=\"width: 103px; height: 24px;\" width=\"100\">0.237<\/td>\n<td style=\"width: 101px; height: 24px;\" width=\"100\">0.244<\/td>\n<td style=\"width: 108px; height: 24px;\" width=\"100\">0.092<\/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\">1.494<\/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\">3.646<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<p><a href=\"\/forex-education-courses\/\" target=\"_blank\" rel=\"noopener noreferrer\"><br \/>\n<img loading=\"lazy\" class=\"alignnone\" src=\"https:\/\/www.gomarkets.com\/wp-content\/uploads\/2019\/02\/Next-Steps-Blog-Bottom-Banner.jpg\" alt=\"\" width=\"942\" height=\"122\" \/><\/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 Global equities pulled back from record highs following new lockdowns and restrictions triggered by the continuous surge in the number of coronavirus cases. European markets ended on a mixed note while major US equities finished in the red.\u00a0 Investors were mostly risk-off in the US session and Wall Street [&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: Wednesday 18 November 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-wednesday-18-november-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: Wednesday 18 November 2020 - GO Markets\" \/>\n<meta property=\"og:description\" content=\"By Deepta Bolaky \u00a0@DeeptaGOMarkets Equity Markets Global equities pulled back from record highs following new lockdowns and restrictions triggered by the continuous surge in the number of coronavirus cases. 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