EQUITIES
S&P 500 Index : $2,659.41, down -4.24 points or -0.16%
Dow Jones Industrial Average : $21,653.86, down -26.13 points or -0.12%
Nasdaq Composite Index : $7,887.26, down -25.98 points or -0.33%
Other Europe exchanges are recording gain, with London's FTSE 100 up 2.19%, Germany's DAX up 2.79% and France's CAC 40 up 2.12%. Italy's closed 2.19% higher and pan-European Stoxx 600 index gain 1.88% closed Tuesday.
Asian markets turn cautious after recent rally. Hong Kong's Hang Seng recording gain of 2.12%, China's Shanghai Composite up 2.05%, SENSEX recording 8.97%, and Singapore’s gain 4.10%. Meanwhile, Japan's Nikkei 225 down -1.15%, South Korea’s KOSPI -0.82%, and Australia's S&P/ASX 200 shed -1.45%, in early trading.
OIL
Brent crude futures ended the session lower on Tuesday at $31.87 per barrel, down -3.57% while WTI crude futures down -9.39%, to $23.63 per barrel.
Currently, Brent is trading at $32.57 per barrel and WTI is trading at $24.90 per barrel as of writing time (UTC+8).
CURRENCIES
The U.S. DXY previously closed 99.96 and stand at 100.10 latest, compared with a basket of its major peers. Dollar traded higher against some other major currencies in early trade, including against AUD (0.47), NZD (0.44%), CAD (0.24%), SGD (0.24%), DKK (0.16%), SEK (0.15%), EUR (0.13%), MXN (0.13%), CHF (0.10%), and GBP (0.02%).
U.S. dollar also drops against some other currencies, including RUB (-0.63%), NOK (-0.06%).
GOLD
Gold currently trading at $1,652.00 per ounce, while stands around $1,679.90 per ounce for gold futures of writing time. Previously closed at 1,649.70 and 1,683.70 respectively.
Silver trading at $14.97, platinum trading at $734.00 and palladium trading at $2,073.00.
ECONOMIC OUTLOOK
U.S. cut its 2020 oil production forecast by more than 1 million barrels a day, as collapsing crude prices and plummeting demand threaten to shutter production in the country’s biggest fields. Additionally, Whiting Petroleum filed for bankruptcy, the first U.S. shale producer to do so as crude prices fall while major oil producers engage in a price war.
Meanwhile, Petronas’ subsidiary, Progress Resources USA Ltd. (PRUL) together with its partners today, announced an oil discovery in the offshore U.S. Gulf of Mexico. Bumping up their share price.
Cruise stocks got a boost after the Saudi sovereign wealth fund disclosed an 8.2% stake in Carnival, sending the stock up 10.68%. Norwegian Cruise Line and Royal Caribbean gained 9.99% and 13.31%, respectively.
Shares of Pinterest jumped as much as 13% Tuesday, after the company issued early guidance for its fiscal first quarter that beat analysts’ expectations.
To date, number of confirmed worldwide cases for COVID-19 pandemic has now reached more than 1,432,000 today affecting 209 countries and territories around the world, recording more than 83,000 fatality globally.
TECHNICAL OUTLOOK
[GBPUSD]
The pair is seeming to be in symmetrical triangle pattern, and expected to downtrend, as we also looked at the Stochastic and Moving Averages indicator.
