How To Trade Stocks: Basics For Novice Traders

 

Do you know that the two largest stocks in the globe are placed in the US? The Nasdaq Stock Exchange and New York Stock Exchange list the world’s most famous enterprises such as Apple, Facebook, and Google.

The ability to join and trade these stock markets has never been more accessible than it is now, and this is one of the reasons why people around the world are eager to learn how to trade stocks. In this article, we will tell you how to trade stocks, what affects the price movement, and how to invest beneficially today on the US market example!

What is the US stock market today?

The US stock market is now essentially an auction where traders purchase and sell shares of public enterprises. The stock market is controlled and managed by the relevant exchange. For example, the US market is formed by the world’s two biggest exchanges – the NYSE and the NSE. They help organize the trading of shares of public companies such as Amazon, McDonald’s, Nike, Walmart, trade options, etc.

The overall value of the American market fluctuates every day depending on the number of transactions (over $30 trillion). These calculations were made on the basis of US stock market data for all enterprises traded on stocks.

What is the US stock market index?

Since the US market has a wide range of enterprises from various sectors, exchanges have created a range of US stock indices to help economists, fund managers, journalists, and traders identify parts of the stock market. For example, here are 3 US indices that are the most recognizable ones, and each of them has a specific focus:

The S&P 500 – The index displays the value of the 500 biggest enterprises traded on the NYSE and is perceived as the key index of the whole US stock market.

Nasdaq 100 – It measures the value of the top 100 companies traded on NSE. It generally includes tech-related enterprises and does not have commercial or investment institutions. This index is perceived as the key one in the US technology sector.

Dow Jones 30 – It was developed to follow the performance of the US stock market in 1896 when data on individual enterprises was limited. The purpose of the 30 stocks listed in the index is to reflect the dominant sectors that “build” the US economy.

Now let’s see how to invest in the US stock market.

How to trade US stocks online?

If you want to learn how to trade US stocks, here are the things you need to know to get started:

–  How to buy US stocks? If you want to buy shares of a certain company, you need to find someone who owns them and is willing to sell them to you. This is what your broker does. Through the trading platform, this intermediary routes your buy and sell orders to other buyers and sellers.

– How to access US stock market data? Your trading platform will help you access the important information you need for trading. This includes US stock market news, charts, and prices of various US public companies.

– Why do you need a schedule? Creating a trading schedule while analyzing the US stock market can help you make quality trading decisions. If you know exactly when you will be trading, you can give it your full attention. Both exchanges open at 9:30 a.m. and close at 4:00 p.m. New York time from Monday to Friday.

 

How to buy US stocks?

It is quite simple, for this you only need to follow the below steps:

–  Open your trading platform;

–  Open the Market Watch section;

–  Right-click in the Market Watch window and select Symbols: the window below will open, listing all the markets available for you to trade;

–  You can now left-click on one of the symbols you want to view and drag it onto the chart to view the US stock prices for the symbol you selected;

–  Select New Order.

You now know how to buy US stocks and join the market. Keep learning to reveal the potential of this business and make your first profit!

Eurozone Stocks Rise At Open Ahead Of OPEC+ Meeting

 

Eurozone stock markets opened higher on Thursday as investors await an output decision by major oil-producing nations.

The Frankfurt DAX index was up 0.4 percent at 14,396.71 points while the Paris CAC 40 rose 0.6 percent at 6,455.27 points.

London’s FTSE 100 was shut on Thursday for a long bank holiday weekend to mark Queen Elizabeth II’s Platinum Jubilee.

The OPEC+ group of major oil producers, led by Saudi Arabia and Russia, is expected to continue its policy of modestly increasing production when it meets later on Thursday, days after the EU agreed to ban most Russian crude.

Energy prices have soared since Russia invaded Ukraine on February 24, fuelling a sharp rise in inflation that is prompting central banks to tighten their monetary policies.

Oil prices fell by almost two percent on Thursday Financial Times report that Saudi Arabia was considering a plan to boost output as Russia struggles to meet targets owing to Ukraine war-linked sanctions.

The Wall Street Journal reported on Wednesday that Russia could be removed from the OPEC+ output deal.

The move could allow the Saudis and other nations to raise their output to meet the shortfall created by a European Union ban on most Russian oil.

OPEC+ has so far resisted US pressure to increase production in order to calm the markets.

“Everything rests on the OPEC+ meeting today,” said Jeffrey Halley, analyst at online trading platform OANDA.

“If Russia is sidelined, I mean exempted from its production quotas, with other members stepping up, European markets could find themselves with a decent tailwind today. A business-as-usual outcome is likely to see a disappointing reaction,” he said.

Oil Prices Sink As US Considers Tapping Reserves, Stocks Struggle

Traders work on the floor of the New York Stock Exchange on March 30, 2022, in New York City. GETTY IMAGES NORTH AMERICA / Getty Images via AFP

 

Oil prices tumbled Thursday on reports that the United States is considering tapping its reserves to combat a supply crisis sparked by the Ukraine war.

However, equities struggled to build on the week’s rally after Russia poured cold water on hopes that ceasefire talks were progressing, leaving the prospect of a protracted war in eastern Europe.

The conflict has already sent shockwaves through the world economy, with growth forecasts this year being lowered across the board. On Thursday, the European development bank EBRD said gross domestic product in Russia and Ukraine would contract 10 percent and 20 percent respectively this year.

READ ALSO: 10-Hour Blackouts, Hospitals Stop Surgery As Sri Lanka Crisis Worsens

WTI tumbled more than five percent at one point while Brent dropped more than four percent as reports said President Joe Biden was looking at releasing a million barrels a day for several months — totalling up to 180 million — as he tries to temper a surge in the market to more than $100.

Concerns about demand in China owing to a lockdown in Shanghai were adding to downward pressure.

The White House this month put an embargo on oil from Russia as part of a series of wide-ranging sanctions against the country for its invasion.

However, that sent prices soaring further and put added upward pressure on world inflation, which was already at multi-decade highs.

Officials said the president would make a statement Thursday on plans to cut energy costs “and lower gas prices at the pump for American families”.

Warren Patterson, at ING Groep NV, said: “Suggestions that we could see up to 180 million barrels released over several months is significant and would help to ease some of the tightness in the market.”

It would be the biggest ever release by the United States, he said.

The news comes as the International Energy Agency urges other countries to further tap their reserves.

A coordinated release earlier this year, before the war, did little to temper a rally in prices, which were being boosted by the global economic reopening and expectations for a pick-up in demand.

OPEC and other major producers including Russia are preparing for their monthly meeting later in the day where they are expected to refrain from lifting output by more than previously planned, despite the growing energy crisis.

While the drop in oil prices will be welcomed on trading floors, Asian equity markets fell after three days of healthy gains and following comments from Russian officials playing down progress in talks with Ukraine over the ceasefire.

Adding to selling pressure was data showing signs of a further slowdown in China’s manufacturing sector caused by Covid lockdowns around the country.

Tokyo, Hong Kong, Shanghai, Sydney, Mumbai, Singapore, Taipei and Bangkok retreated, though Seoul, Manila, Wellington and Jakarta edged higher.

London, Paris and Frankfurt were up in early trade.

Traders on Wednesday jumped on news that Moscow had pledged after negotiations in Istanbul to “radically” reduce its attacks.

Both sides initially said the gathering Tuesday had been productive but on Wednesday Kremlin spokesman Dmitry Peskov said: “We cannot state that there was anything too promising.”

Turkey said Thursday the foreign ministers of Ukraine and Russia could meet within two weeks.

Investors are awaiting the release Friday of US jobs data for an idea about the impact of soaring inflation and the war on the world’s top economy.

The reading could also be of particular importance regarding the Federal Reserve’s plans for monetary policy as it pivots to a more aggressive approach in a bid to staunch the surge in prices, which many fear will hammer growth.

AFP

Stocks Slump As US-China Tensions Heat Up

A woman walks past a screen showing information and the index of the Taipei Stock Exchange on July 24, 2020. Sam Yeh / AFP
A woman walks past a screen showing information and the index of the Taipei Stock Exchange on July 24, 2020. Sam Yeh / AFP

 

Global equities took a beating Friday as China-US tensions intensified, while stalled stimulus talks in Washington fuelled fears for the economy, traders said.

Lingering worries about the impact on businesses of fresh coronavirus outbreaks helped trigger major profit-taking, overshadowing a batch of bright data in Europe.

“It’s a sour end to the trading week,” said AJ Bell investment director Russ Mould.

The Dow was down nearly 140 points approaching midday in New York, “adding to yesterday’s declines in morning action as friction between the US and China heated up overnight”, said Charles Schwab analysts.

European indices were up to two percent lower at the close.

Earlier in Asia, Shanghai and Hong Kong had already dived as relations between the world’s two superpowers took another bad turn when China ordered the closure of the US consulate in Chengdu in retaliation for America shuttering Beijing’s diplomatic mission in Houston this week.

File photo: Traders work on the floor of the New York Stock Exchange (NYSE) on January 27, 2020 in New York City.  Spencer Platt/Getty Images/AFP

 

The standoff is the latest in a string of issues — including Hong Kong, coronavirus and Huawei — that have plunged relations between the superpowers into crisis.

Stock markets were also still reeling from Thursday’s report of a rise in new jobless claims in the US which prompted doubts about any ongoing economic rebound there, traders reported.

Hopes that the data would spur US lawmakers to push on with fresh stimulus measures were undermined by the inability of Republicans and the White House to agree on a $1.0 trillion stimulus proposal.

Haven asset gold meanwhile jumped within spitting distance of $1,900 for the first time since late 2011, boosted by economic uncertainty, geopolitical tensions and Federal Reserve monetary easing that has weakened the dollar.

Oil attempted to stage a rebound having tanked Thursday, but then investors lost heart, overwhelmed by demand worries, and pushed crude lower again.

Key figures around 1540 GMT

London – FTSE 100: DOWN 1.4 percent at 6,123.77 points (close)

Frankfurt – DAX 30: DOWN 2.0 percent at 12,838.06 (close)

Paris – CAC 40: DOWN 1.5 percent at 4,956.43 (close)

EURO STOXX 50: DOWN 1.8 percent at 3,310.89

New York – Dow: DOWN 0.5 percent at 26,519.43

Hong Kong – Hang Seng: DOWN 2.2 percent at 24,705.33 (close)

Shanghai – Composite: DOWN 3.9 percent at 3,196.77 (close)

Tokyo – Nikkei 225: Closed for a holiday

Euro/dollar: UP at $1.1633 from $1.1596 at 2100 GMT

Dollar/yen: DOWN at 105.82 yen from 106.86 yen

Pound/dollar: UP at $1.2786 from $1.2741

Euro/pound: DOWN at 90.97 pence from 91.02

West Texas Intermediate: DOWN 0.2 percent at $40.97 per barrel

Brent North Sea crude: DOWN 0.4 percent at $43.15

 

 

AFP

Stocks Drop As COVID-19 Cases Spike Globally

A woman wearing a face mask walks past a stocks display board outside Exchange Square in Hong Kong on July 16, 2020, as the city experiences another spike in COVID-19 coronavirus cases. Anthony WALLACE / AFP
A woman wearing a face mask walks past a stocks display board outside Exchange Square in Hong Kong on July 16, 2020, as the city experiences another spike in COVID-19 coronavirus cases. Anthony WALLACE / AFP

 

Most equities fell Monday as a spike in new coronavirus infections across the planet forced governments to impose fresh containment measures, fuelling fears about the stuttering economic recovery.

Traders are also keeping tabs on Europe, where leaders are struggling to unite over an $860 billion rescue package for the battered European Union.

The rally that has characterised equity markets since hitting a March low is showing signs of stalling as the pandemic rages, with new infections from Australia to the United States.

The spikes — Hong Kong saw a record rise Sunday, while Florida’s has been described as “out of control” — have led leaders to unveil new measures to curb the disease’s spread, including closing bars and restaurants and making masks compulsory.

That has raised questions about the pace of the global economy’s recovery from an expected recession this year.

An index of US consumer sentiment last week showed it hit a three-month low in July.

“When coupled with the recent stickiness of jobless claims, the Michigan survey suggests some risk that the positive data surprises that dominated through June might have hit a brick wall,” said AxiCorp’s Stephen Innes.

Shane Oliver, of AMP Capital Investors, added: “Our base case remains for the economic recovery to continue, but for the deep V rebound evident in much recent data to give way to a slower, bumpier recovery going forward.

“Shares are still vulnerable to a further correction or consolidation, with renewed lockdowns and the US presidential election being the main risks.”

Investors are keeping an eye on Washington, hoping lawmakers will press ahead with fresh stimulus measures for the world’s top economy, with unemployment benefit bonus payments due to expire on July 31.

However, there are disagreements over how much to pay and Donald Trump is trying to include tax cuts. Failure to extend the scheme would have a catastrophic impact on poor families.

“Depending on how ugly or not the bipartisanship becomes, this story has the potential to move markets later in the week,” said Jeffrey Halley at OANDA.

“Discussions are taking on more urgency as COVID-19 continues its rampage across the Southern and Western United States. Enhanced shutdowns are now a genuine possibility as the US failed to emerge from even the first wave of the pandemic.”

EU stimulus deadlock

Shanghai jumped more than three percent, resuming a rally that saw the composite index jump around 15 percent in the first two weeks of July before a sharp drop last week.

Tokyo rose 0.1 percent after reversing early losses, while there were also gains in Mumbai and Manila.

But Hong Kong dropped 0.1 percent, and Sydney, Singapore and Jakarta slipped 0.5 percent. Wellington gave back 0.3 percent, while Taipei, Bangkok and Seoul were also in the red.

The corporate earnings season continues this week, with observers looking for companies’ commentaries, seeking clues about their outlooks.

“These are the folks who genuinely have their fingers on the economy’s pulse and can tell us with no uncertainty about underlying business trends and how those changes in consumer consumption patterns could ultimately drive stock market capital reallocations over time,” said Innes.

European leaders remain unable to break a deadlock on their planned stimulus programme, with a fraught summit going into a fourth day.

The talks have failed to yield agreement over the size and rules for the package of loans and grants to help drag Europe out of recession, with the Netherlands, Sweden, Austria, Denmark, and Finland wanting to pare it back and impose strict rules on how it is used.

Still, analysts expect a deal to eventually be hammered out.

“This is the pattern of negotiations and treaties in Europe, where European leaders really argue until the last minute before arriving to a consensus and a package,” Mathieu Savary, of BCA Research, told Bloomberg TV.

“We do not think that the absence of an agreement this weekend, at least so far until now, is the death knell of an agreement.”

The euro bounced back against the dollar after initially dropping at the start of trade, though shares in London, Frankfurt, and Paris all fell.

 

Key figures around 0810 GMT

Tokyo – Nikkei 225: UP 0.1 percent at 22,717.48 (close)

Hong Kong – Hang Seng: DOWN 0.1 percent at 25,057.99 (close)

Shanghai – Composite: UP 3.1 percent at 3,314.15 (close)

London – FTSE 100: DOWN 1.0 percent at 6,230.09

West Texas Intermediate: DOWN 0.7 percent at $40.29 per barrel

Brent North Sea crude: DOWN 0.7 percent at $42.83 per barrel

Euro/dollar: UP at $1.1448 from $1.1435 at 2100 GMT

Dollar/yen: UP at 107.23 yen from 106.93 yen

Pound/dollar: UP at $1.2570 from $1.2568

Euro/pound: UP at 91.01 pence from 90.97 pence

New York – Dow: DOWN 0.2 percent at 26,671.95 (close)

 

 

AFP

Markets Mostly In Reverse After Latest Stocks Surge

A currency dealer monitors exchange rates in a trading room at the KEB Hana Bank in Seoul on October 12, 2018. Asia’s main stock markets traded lower on October 12, but losses were relatively muted as investors took a breather after a global rout sparked by fears over higher US interest rates. Jung Yeon-je / AFP.

 

Asian markets mostly fell Tuesday as traders took a step back after their latest rally, with a run of upbeat economic data offset by fears over a spike in new virus infections.

While several countries are suffering a fresh surge in infections — particularly the United States — the ongoing easing of lockdown measures and reopening of economies has been the key driver of a months-long surge across equities.

After the latest advances, which saw Shanghai hit a two-year high and the Nasdaq on Wall Street end at another record, dealers stepped back and took profits.

There was also some trepidation on trading floors after Donald Trump’s top infectious diseases expert warned the US was still “knee-deep” in its first wave of coronavirus infections.

Anthony Fauci said the country was in “a serious situation that we have to address immediately”.

That came as several states reported new daily records for new cases, with some reimposing lockdowns.

On Tuesday, Australian authorities said more than five million residents of Melbourne, the country’s second-biggest city, will be locked down for six weeks after virus cases surged.

Hong Kong shed 1.4 percent after climbing more than eight percent over the previous four trading days, while Tokyo, Seoul, Singapore, Taipei and Manila were also in negative territory.

Sydney and Jakarta were flat, while London, Paris and Frankfurt were all down in the morning as the European Union forecast a massive contraction in the eurozone economy this year.

But Shanghai rose 0.4 percent, having surged almost six percent Monday as retail investors piled back into the market.

Observers also pointed to an editorial in the China Securities Times on Monday that said fostering a “bull market” after the virus crisis was crucial to kick-starting the world’s number two economy.

The composite index has risen more than 10 percent in just over a week, though there are worries about another bubble similar to the one that burst four years ago and sparked a global rout.

– More gains to come? –

“China’s army of retail investors seem to be perfectly able to look through the worrying Western media headlines of another global coronavirus record,” said AxiCorp’s Stephen Innes.

“Instead, they are listening to the enthusiastic chorus from the nation’s influential state media, which are universally singing bullish from the same song page.”

He cited reports saying there had been a recent surge in new brokerage account openings.

Wellington, Mumbai and Bangkok also rose.

Traders have for weeks been trying to balance the reopening of economies with worries about the disease as it continues its march across the planet.

On Monday there was more positive data, with an index of the US service sector — which makes up the vast majority of the economy — seeing its biggest-ever jump in June to beat forecasts.

“Investors have recognised that as bad as the economy in the US is, it’s not as bad as what people thought it would look like in March and April,” said Nancy Prial at Essex Investment Management.

“The market has started to sense we might see better-than-anticipated results fairly broadly across a wide spread of companies.”

In a sign that the reporting season could be positive, Samsung Electronics said Tuesday it expects to see operating profit jump 23 percent in the second quarter, which is much better than the single-digit fall that analysts had forecast.

The firm appears to have benefited as lockdowns boosted its chip business with data centres moving to stockpile DRAM chips to meet surging demand for online activities.

– Key figures around 0810 GMT –

Tokyo – Nikkei 225: DOWN 0.4 percent at 22,614.69 (close)

Hong Kong – Hang Seng: DOWN 1.4 percent at 25,975.66 (close)

Shanghai – Composite: UP 0.4 percent at 2,245.34 (close)

London – FTSE 100: DOWN 0.8 percent at 6,234.63

West Texas Intermediate: DOWN 1.4 percent at $40.07 per barrel

Brent North Sea crude: DOWN 1.2 percent at $42.58

Euro/dollar: DOWN at $1.1285 from $1.1308 at 2100 GMT

Dollar/yen: UP at 107.57 yen from 107.39 yen

Pound/dollar: DOWN at $1.2480 from $1.2489

Euro/pound: DOWN at 90.44 pence from 90.53 pence

New York – Dow: UP 1.8 percent at 26,287.03 (close)

AFP

Stocks Rally As Restrictions Ease And Death Rates Drop

An Investor (not shown) looks at screens showing stock market movements at a securities company in Beijing on August 26, 2019. WANG Zhao / AFP.

 

Asian equity markets rallied Monday as traders looked past a staggering jump in US job losses to focus on governments easing virus lockdown measures and data showing death rates falling in some of the worst-hit countries.

Observers warned, however, that with the outlook still murky, traders could be getting ahead of themselves — while there are concerns of a second wave hitting South Korea and China, which had been slowly reopening their economies.

Official figures on Friday showed a record 20.5 million people were laid off in the US in April, sending unemployment soaring to 14.7 percent, the highest since the Great Depression.

However, the reading was slightly lower than forecasts and Wall Street ended a healthy week with strong gains as focus turned to plans to lift restrictions that have kept billions of people stuck at home for months in the US and the rest of the world.

“There is hope within this labyrinth of statistical perversity,” said AxiCorp’s Stephen Innes.

“The vast majority of job losers anticipate being recalled. Temporary layoffs on this scale have never happened — like almost every data point in this jobs report — and the hope is that it leads to a rather rapid return to work.”

Tokyo, Hong Kong, Sydney and Taipei all ended up more than one percent.

Jakarta, Bangkok and Mumbai also put on more than one percent in the afternoon, and there were also gains in Singapore and Wellington — though Seoul lost 0.5 percent.

READ ALSO: China’s Ground Zero Reports COVID-19 Infections

Shanghai gave up early gains to end marginally lower despite a pledge by the People’s Bank of China to “more powerful” policies to support the world’s number two economy.

In early trade, London, Paris and Frankfurt posted gains.

However, Sri Lanka’s stock market closed within seconds of reopening following a seven-week trading halt, having tumbled more than 10 percent.

Traders took heart in figures out of badly hit countries including France, Germany and the US showing death rates continuing to sink, while leaders ease up on restrictions put in place to stop the disease’s spread.

There is, however, the ever-present fear of another bout of infections.

South Korea, which had been praised for the handling of its initial outbreak, has been forced to shut all bars and clubs in Seoul after a cluster of new cases, while China on Monday reported the first new infections in over a month in Wuhan, where the outbreak started.

In Germany, at least one district had to reimpose restrictions after an outbreak at a meat processing plant. The latest data out of the country indicated the infection rate was rising again.

– Fears of second wave –

OANDA’s Jeffrey Halley, however, said markets would not likely be hit by such news just yet.

“Markets will likely ignore the threat of COVID-19 part two, staying with the momentum of the peak-virus trade,” he said in a note.

Tapas Strickland, of National Australia Bank, remained upbeat as economies grind back to life after months of near standstill.

“A sharp pick-up in economic activity is being priced by markets, and should occur as long as there is no second wave of infections that necessitates the re-implementation of containment measures,” he said.

“Markets are thus likely to be increasingly sensitive to the track of new COVID-19 cases in countries that have begun to ease restrictions. Progress on a vaccine/effective treatment would also be a game changer.”

The improving sentiment lifted high-yielding, riskier currencies against the dollar, with the South Korean won, South African rand and Australian dollar among the best performers.

But, with markets having soared from their March lows, there are concerns the rally may have run too far considering the uncertainty about how quickly economies can bounce back.

Bob Baur at Principal Global Investors LLC said: “Because so much future growth and uptrend potential is priced in, we expect a period of relapse and consolidation through June.”

Oil prices slipped on profit-taking after surging last week on hopes for a pick-up in demand and as inventories begin to fall and producers slash output.

“While price action is bound to be choppy as economies try to move out of lockdowns, it is probably safe to say that traders have planked a base on oil prices,” added Innes. “Oil fundamentals are showings signs of improvement by the week.”

– Key figures around 0810 GMT –

Tokyo – Nikkei 225: UP 1.1 percent at 20,390.66 (close)

Hong Kong – Hang Seng: UP 1.5 percent at 24,602.06 (close)

Shanghai – Composite: FLAT at 2,894.80 (close)

London – FTSE 100: UP 1.0 percent at 5,996.85

West Texas Intermediate: DOWN 1.9 percent at $24.26 per barrel

Brent North Sea crude: DOWN 1.9 percent at $30.38 per barrel

Euro/dollar: UP at $1.0833 from $1.0836 at 2040 GMT on Friday

Dollar/yen: UP at 107.21 yen from 106.73 yen

Pound/dollar: DOWN at $1.2387 from $1.2402

Euro/pound: UP at 87.45 pence from 87.34 pence

New York – Dow: UP 1.9 percent at 24,331.32 (close).

AFP

Stocks Advance As COVID-19 Restrictions Are Eased

WANG Zhao / AFP.

 

Most equities rose again on Wednesday as investors grew increasingly, but cautiously, hopeful that the worst of the coronavirus had passed and as countries begin to slowly open up from lockdown.

While a string of data highlighted the calamity visited upon the global economy by COVID-19, a slowdown in both infections and deaths in some nations is allowing them to ease restrictions that have kept half the planet stuck at home.

Federal Reserve Vice Chairman Richard Clarida provided an upbeat outlook, saying the US economy could see positive growth in the second half of the year, though tempered that by saying it was dependent on containment of the virus.

“Risk sentiment continues to be buoyed on news of more countries/states rolling back containment measures, followed by reports of more companies re-opening operations,” said Tapas Strickland of National Australia Bank.

“That is giving hope that rollback will allow economic activity to resume and that we may be passed the trough in economic activity.”

Hong Kong and Seoul rose more than one percent, while Shanghai put on 0.6 percent and Wellington added 0.8 percent. Taipei was flat but Sydney slipped slightly.

Singapore put on one percent, with Singapore Airlines surging as much as 21 percent at one point on hopes for a pick-up in business thanks to the easing lockdown measures. It pared the gains to sit around 10 percent higher in late trade.

In early trade, London was slightly higher but Paris and Frankfurt were slightly lower.

Mumbai soared more than one percent on stimulus hopes following data showing India’s factory and services activity collapsed in April.

The services purchasing managers index crashed 43.9 points to 5.4 in April — putting it in single digits for the first time — according to IHS Markit.

Anything below 50 in the gauge points to contraction and with the sector making up more than half of India’s gross domestic product, the group warned the economy likely shrunk 15 percent in the month.

– Fears of jobs horror show –

Fears of a second virus wave as the lockdown eases were keeping traders on their toes.

“It is absolutely dependent on what happens with respect to infection rates and whether there is the so-called second wave,” Andrew Wilson, at Goldman Sachs Asset Management, told Bloomberg TV.

“So as we ease these lockdowns there remains the risk that of course you then have to tighten up the controls. That’s why governments around the world are going to be relatively cautious about how they ease these lockdowns.”

Observers are also keeping tabs on China-US relations after President Donald Trump hit out at Beijing over its handling of the pandemic, sparking fears of a renewal of the economic superpowers’ trade war that hit markets last year.

“Worries that China could retaliate against the US virus and trade accusations are real,” said OANDA’s Jeffrey Halley. “If anything can undermine a peak virus rally, a US-China trade war would do the job nicely.”

Friday sees the much-anticipated release of US jobs data for April, with consensus forecasts that unemployment has surged to an incredible 16.2 percent — the highest since 1948 — from 4.4 percent. However, some economists expect it to rise even higher.

Oil markets were flat, having doubled since last Tuesday fuelled by hopes that demand will begin to pick up as people start going back out and start spending after the long-running lockdown in key economies.

“With economies reopening around the world and the market rebalancing in full swing, traders are positioning for a multi-staged pick-up in demand initially led by gasoline demand at the pump as consumers emerge from lockdowns,” said AxiCorp’s Stephen Innes.

He pointed out that as China emerges from its lockdown, figures showed traffic in the country’s big cities was higher than pre-virus levels, suggesting people were opting for private travel rather than public transport, which would be good for petrol demand.

– Key figures around 0810 GMT –

Hong Kong – Hang Seng: UP 1.1 percent at 24,137.48 (close)

Shanghai – Composite: UP 0.6 percent at 2,878.14 (close)

Tokyo – Nikkei 225: Closed for a holiday

London – FTSE 100: UP 0.1 percent at 5,857.02

West Texas Intermediate: DOWN 0.7 percent at $24.39 per barrel

Brent North Sea crude: UP 0.1 percent at $31.00 per barrel

Euro/dollar: DOWN at $1.0830 from $1.0834 at 2045 GMT

Dollar/yen: DOWN at 106.29 yen from 106.53 yen

Pound/dollar: DOWN at $1.2434 from $1.2435

Euro/pound: DOWN at 87.09 pence from 87.11 pence

New York – Dow: UP 0.6 percent at 23,883.09 (close).

 

European Equities Rebound At Open

 

Europe’s stock markets rallied in opening deals on Thursday, despite losses elsewhere, as investors focused on plans to ease coronavirus lockdown restrictions in several nations.

In initial deals, London’s benchmark FTSE 100 index of major blue-chip companies was up 1.0 percent to 5,653.72 points.

In the eurozone, Frankfurt’s DAX added 1.3 percent to 10,411.56 points and the Paris CAC 40 advanced 1.4 percent to 4,412.62.

Milan’s FTSE Mib jumped 2.1 percent to 17,067.98 and Madrid’s IBEX 35 gained 1.3 percent to 6,927.10 points

“Investors are shrugging off the pessimism and (are) willing to focus on more positive things,” said AvaTrade analyst Naeem Aslam.

“Germany has drawn (up) a plan to ease off the lockdown restrictions and traders are optimistic about this development.

READ ALSO: IMF Cautions Renewed Social Unrest Amid COVID-19 Pandemic

“Having said this, European markets are not trading higher with bigger margins, we are only seeing some small gains, and it is likely that as trading resumes, these small gains may disappear because of the selling pressure on the energy sector.”

With oil prices at near-decade lows, the energy majors have suffered badly.

AFP

Coronavirus Forces Global Markets To Dip

Traders work in the S&P options pit near the close of trading on the Cboe Global Markets trading floor on January 31, 2020 in Chicago, Illinois. Scott Olson/Getty Images/AFP
Traders work in the S&P options pit near the close of trading on the Cboe Global Markets trading floor on January 31, 2020 in Chicago, Illinois. Scott Olson/Getty Images/AFP

 

Asian and European markets mostly fell Monday with investors worried over the impact of China’s coronavirus outbreak on the global economy.

At midday in Europe, London was down 0.2 percent, Paris dipped 0.4 percent, and Frankfurt slid 0.3 percent.

“Coronavirus concerns are weighing,” noted CMC Markets UK analyst David Madden.

“The deepening health crisis is chipping away at market confidence.

“In London, stocks that are connected to China are under pressure. Mining, energy as well as travel stocks are in the red.”

The virus has killed more than 900 people, infected more than 40,000 across mainland China and spread to more than two dozen countries in what has been termed a global health emergency.

It has also jolted major supply chains for everything from food and household supplies to car and electronics parts.

In Asia, Tokyo’s benchmark Nikkei 225 index closed 0.6 percent down, while Hong Kong pared some losses, ending the day 0.6 percent lower after tanking 1.1 percent at the open.

Shanghai however rebounded after opening lower and ended with a 0.5-percent gain at the close.

Investors around the world have been watching with concern as China, the world’s second-largest economy, battles the novel coronavirus, which emerged at the end of last year in the central city of Wuhan.

The domestic impact was reflected in China’s inflation figures released Monday, which showed the highest rise in consumer prices in more than eight years, with food prices spiking more than 20 percent.

It has also disrupted the supply chains of major global firms such as Apple supplier Foxconn and auto giant Toyota. Key production facilities across China have been temporarily closed, with authorities imposing lockdowns and quarantine measures.

Oil slips lower

Depressed economic activity in China, the world’s largest importer and consumer of oil, has also hit energy markets.

A committee appointed by OPEC recommended additional output cuts on Saturday, citing the negative impact of the epidemic on economic activity.

Both main contracts, West Texas Intermediate and Brent Crude, were down by around half a percentage point on Monday.

Separately, cryptocurrency bitcoin rallied to stand above $10,000 for the first time since September, though analysts did not attribute the move to anything in particular.

 

AFP

Coronavirus Forces Global Stocks, Oil To Fall

Traders work on the floor of the New York Stock Exchange (NYSE) on January 27, 2020 in New York City.  Spencer Platt/Getty Images/AFP

 

Global stocks and oil dropped on Monday as panicked investors fled risky assets for safer bets gold, bonds, the dollar and the yen after China warned that a deadly new coronavirus was spreading fast.

Luxury goods makers and airlines suffered particularly on equity markets, as Chinese tourist spending is a key factor for them. Shares of energy and technology companies were also weak.

China extended its traditional Lunar New Year holidays to buy time in the fight against the epidemic but fears of a repeat of the 2003 Severe Acute Respiratory Syndrome (SARS) outbreak, which also began in China, spooked investors.

Recent record highs on stock markets gave them plenty of room for a reverse.

Key European stock markets dropped more than two per cent, while losses on Wall Street were only slightly less severe.

Oil prices also retreated on concerns over demand from China, the world’s top energy consumer.

 ‘Major panic’ 

“The bottom line is that the virus has become deadly and it has caused a major panic in markets,” said Ava Trade analyst Naeem Aslam.

Art Hogan, chief market strategist at National Holdings, said rising investor unease has reflected an increased number of cases and as the virus has spread to more regions.

“The escalation of the news causes more uncertainty,” especially for travel-oriented companies, Hogan said.

“I think it’s very logical, especially given that the sectors that would be affected by any slowdown are getting hit the hardest.”

Analysts said there were growing fears the crisis could become as bad as the SARS outbreak that hammered markets and the global economy 17 years ago.

The new outbreak has led China to lock down Wuhan, the epicenter of the disease and home to 11 million people while imposing tight travel restrictions on a number of other cities including Beijing.

The move comes during the Lunar New Year holiday when hundreds of millions of people criss-cross the country and spend huge amounts of money.

 Flight to safety 

Most Asian markets were closed for the Lunar New Year break but Tokyo was open and fell two per cent. Bangkok plunged nearly three per cent on worries over the Thai travel sector.

The flight to safety saw the yen rally against the dollar, with the Japanese unit now up more than one per cent from eight-month lows reached earlier this year.

The dollar, however, rose against the euro and pound.

Gold, another go-to asset in times of turmoil and uncertainty, seemed headed back towards $1,600 per ounce and the six-year peaks touched at the start of January.

While the main focus is on the spread of the virus, traders will also be keeping an eye on the release of earnings this week from top companies including Apple, Facebook and Samsung.

 Key figures around 2140 GMT 

New York – DOW: DOWN 1.6 percent at 28,535.80 (close)

New York – S&P 500: DOWN 1.6 percent at 3,243.63 (close)

New York – Nasdaq: DOWN 1.9 percent at 9,139.31 (close)

London – FTSE 100: DOWN 2.3 percent at 7,412.05 (close)

Frankfurt – DAX 30: DOWN 2.7 percent at 13,204.77 (close)

Paris – CAC 40: DOWN 2.7 percent at 5,863.02 (close)

EURO STOXX 50: DOWN 2.7 percent at 3,677.84 (close)

Tokyo – Nikkei 225: DOWN 2.0 percent at 23,343.51 (close)

Hong Kong – Hang Seng: Closed for a public holiday

Shanghai – Composite: Closed for a public holiday

Brent Crude: DOWN 2.3 percent at $59.32 per barrel

West Texas Intermediate: DOWN 1.9 percent at $53.14 per barrel

Dollar/yen: DOWN at 108.88 yen from 109.28 yen Friday

Euro/dollar: DOWN at $1.1019 from $1.1025

Pound/dollar: DOWN at $1.3055 from $1.3073

Euro/pound: UP at 84.40 pence from 84.34 pence

AFP

Tokyo Stocks Close Higher As Iran Worries Ease

People wait to cross a street in front of a stock indicator displaying share prices of the Tokyo Stock Exchange in Tokyo on January 9, 2020. Behrouz MEHRI / AFP

 

Tokyo stocks closed higher on Friday, extending rallies on Wall Street as worries over US-Iran tensions receded while investors eyed US job data.

The benchmark Nikkei 225 index gained 0.47 percent, or 110.70 points, to 23,850.57, While the broader Topix index was up 0.35 percent, or 6.11 points, at 1,735.16.

“The Japanese market reacted positively after US stocks ended at records,” Okasan Online Securities said in a commentary.

The gains marked a second straight session of advances on rising confidence that the US and Iran would avoid a conflict, following statements Wednesday by US President Donald Trump and Iranian officials.

Sentiment was further boosted by China’s announcement that Vice Premier Liu He will travel to Washington next week to sign the “phase one” deal with the United States, which has lowered trade tensions between the world’s two biggest economies, analysts said.

Traders also eyed on US job data expected to be released later Friday.

The dollar fetched 109.57 yen in Asian trade, against 109.51 yen in New York late Thursday.

In Tokyo, chip-making equipment manufacturer Tokyo Electron rose 1.44 percent to 24,840 yen and chip-testing equipment maker Advantest climbed 1.11 percent to 6,350 yen.

Some China-linked shares were higher, with industrial robot maker Fanuc gaining 2.35 percent to 20,670 yen and construction machine maker Komatsu advancing 1.21 percent to 2,616 yen.

Uniqlo chain operator Fast Retailing dropped 2.77 percent to 61,990 yen a day after it cut its full-year net profit forecast on sluggish sales in Asia owing to the Hong Kong protests and a boycott of Japanese products in South Korea.