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23.10.202010:54 Forex Analysis & Reviews: US stock market rises on Friday

Long-term review

Exchange Rates 23.10.2020 analysis

On Friday, the US stock market showed positive dynamics amid strengthening in the oil and gas markets and healthcare sectors.

The Dow Jones rose by 0.54%, the S&P 500 gained 0.52%, and the NASDAQ Composite grew by 0.19%.

The leader of growth among the components of the Dow Jones was Chevron Corp. Its shares rose by 3.57% to trade at 73.40. JPMorgan Chase & Co gained 3.53% as well to settle at 102.88.

The worst performing companies were Salesforce.com Inc and Apple Inc. They lost 1.79% and 0.96% respectively during the trade.

The top performers among the S&P 500 were the shares of Align Technology Inc, which rose in price by 34.97% reaching 453.23 point, the shares of Gap Inc rose by 13.65% to 21.15 point, and shares of Discover Financial Services grew by 9.17% to trade at 66.16.

Cincinnati Financial Corporation, in turn, lost 8.96% to trade at 76.74. Tractor Supply Company shed 8.11% to settle at 137.02. Citrix Systems Inc fell by 7.12% as well to 126.65.

The best performing companies among the components of the NASDAQ Composite index were Ever-Glory International Group Inc, TuanChe ADR as well as KBS Fashion Group Ltd rising in price by 126.09%, 98.36%, 59.59% respectively.

The biggest losers were InVivo Therapeutics Holdings Corp., which fell by 47.33% to close at 0.6000. Shares of Insignia Systems Inc lost 46.86% falling to 0.9300 point. Marin Software Inc shares lost 43.62% to settle at 2.120.

Align Technology Inc reached a historical high rising by 34.97% to trade at 453.23. InVivo Therapeutics Holdings Corp decreased to an all-time low. It lost 47.33% to settle at 0.6000.

The CBOE Volatility Index, which measures the value of S&P 500 options trading, fell by 1.88% to trade at 28.11.

At the same time, gold futures for December dropped by 1.20% to $1,906.40 per troy ounce. WTI crude for December rose, in turn, by 1.45% to trade at $40.61 per barrel. Futures for Brent crude fell by 0.05% to $42.39 per barrel.

Meanwhile, the EUR/USD pair rose by 0.05% to hit 1.1822, while USD/JPY gained 0.04% to settle at 104.86.

The US Dollar Index Futures also rose by 0.38% to trade at 92.950.

Kate Smirnova,
Analytical expert of InstaSpot
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