• Investors resume selling US tech shares
• Gold price approaching 6-week lows on stronger USD
US indices are trading lower, with tech shares sliding once again. Stocks of Amazon, Netflix, Alphabet, Microsoft and Apple are down over 1%. Meanwhile, Tesla stocks are down more than 10% as investors were disappointed with its big battery which took place yesterday. Also concerns about the pace of the global economic recovery and rising COVID-19 infections weighed on market sentiment. Data from IHS Markit showed gains at factories were offset by a retreat at services industries in September, suggesting a loss of momentum in the economy as the third quarter draws to a close. Meanwhile total number of deaths caused by the COVID-19 in the US surpassed 205k. President Donald Trump said the U.S. would not be implementing a second round of lockdowns as the U.K. began imposing stricter measures. “The U.K. just shut down again. They just announced that they’re going to do a shutdown, and we’re not going to be doing that,” Trump said. Investors also digested remarks from Fed officials that point to a slow economic recovery and the need for further fiscal stimulus. At the same time, the House approved a bill to keep the government funded through December and avoid a shutdown before the election. Dow Jones erased earlier gains and fell 0.4%. The S&P 500 slid 0.8% and the Nasdaq Composite pulled back by 1.3%.
EURUSD - Euro touched a two-month low during the session and continues to trade around the major support level at 1.1673. Should a break below it occur, downward move toward 1.1578 may accelerate. However, if buyers manage to halt decline here, then upward impulse may be on the cards. Source: xStation5This content has been created by XTB S.A. This service is provided by XTB S.A., with its registered office in Warsaw, at Prosta 67, 00-838 Warsaw, Poland, entered in the register of entrepreneurs of the National Court Register (Krajowy Rejestr Sądowy) conducted by District Court for the Capital City of Warsaw, XII Commercial Division of the National Court Register under KRS number 0000217580, REGON number 015803782 and Tax Identification Number (NIP) 527-24-43-955, with the fully paid up share capital in the amount of PLN 5.869.181,75. XTB S.A. conducts brokerage activities on the basis of the license granted by Polish Securities and Exchange Commission on 8th November 2005 No. DDM-M-4021-57-1/2005 and is supervised by Polish Supervision Authority.
