The week has been full of many ups and downs in the stock market. Globally, stocks had both gains and losses throughout the week, thus offsetting each other. As global stocks remain flat, the pound continues to its six-week high. Now, investors are contemplating whether or not the world’s central bank’s stimulus measures will be enough to stop the already slowing growth.
In the case of the index S&P 500, they have gained a 4.6% increase in stocks for the past two weeks. However, this week, the increased activity in energy .SPNY and financial .SPSY was offset by the decline in healthcare .SPXHC and tech .SPLRCT.
Due to the ongoing U.S. and China trade war, Japan’s economy continues to grow slower. This situation has alarmed the central back to create stronger measures for this month. Many investors are looking forward to the announcement by the European Central Bank regarding the new stimulus that they will introduce. They will be meeting this Thursday.
The Dow Jones Industrial Average rose up by 38.05 points, now at 26,835.51, while the S&P 500 decreased by 0.28 points, staying at 2,978.43. The Nasdaq Composite lost 15.64 points to 8,087.44.
As the pound continues to grow stronger, Britain’s FTSE index decreased, thus lowering European shares. STOXX 600 index reduced by 0.28% while .MIWD0000PUS lost about 0.01%.
Britain’s economy is growing at a stable pace, allowing Sterling to reach its six-week high of GBP 1.2382. Its most significant jump was when John Bercow announced that he would stand down from his position as the speaker in Britain’s House of Commons. On that very day, Sterling GBP increased by 0.50% from $1.2343.
In a different area, oil prices have increased as Prince Abdulaziz, the new Saudi energy minister, said that he would follow the country’s policy. He is planning on limiting crude output to sustain prices. CLcv1, U.S. crude, grew by 2.35%, while Brent LCOcv1 rose by 1.71% on the day of the announcement.