- The major U.S. stock index, the S&P 500, Friday closed at a new all-time high above 3500. The Index is now up by more than 58% from its March low. The U.S. stock market has never fallen and recovered so far, so quickly, as it has in 2020. New all-time highs tend to represent good buying opportunities in stocks.
- The Nasdaq 100 (COMP) technology index has been making new record highs since June, and is up by 75% from its March low, outperforming the S&P 500 (SPX, SPY).
- The U.S. Dollar has been mostly falling in line with the long-term bearish trend established over recent weeks following last month’s “death cross” in the USD Index. (UDN)
- The Japanese Yen (FXY) is weak, while the British Pound (FXB) is currently the strongest major currency. Almost all major currencies have been rising against the U.S. Dollar.
- The Forex market may see abnormally high activity today as it is the last day of the month of August.
- President Trump and the Democratic Nominee Joe Biden have traded blame following more civil unrest in Portland Oregon over the weekend during which a man was killed.
- Coronavirus global death tolls are showing signs of starting to fall, with deaths in Latin America and the Caribbean at 45% of the global daily total, well exceeding those in both the U.S.A. (17%) and Europe (approx. 5%) which shows that the epicenter of the pandemic is well established in Latin America. Deaths in the U.S.A. have begun to fall, and the number of new cases reported daily has fallen quite strongly.
- Total confirmed new coronavirus cases stand at over 25.1 million with an average case fatality rate of 3.36%. The number of daily new cases has still not exceeded the all-time high made on 31st July. Global mortality over recent weeks is lower than it was during the first peak in April.
- India is now the country seeing most new deaths from the coronavirus, as it sets a new record for new daily cases. New cases are also rising strongly in the European Union.
- The rate of new coronavirus infections appears to now be increasing most quickly in Argentina, Austria, The Bahamas, Belize, Bolivia, Bosnia, Brazil, Bulgaria, Burma, Colombia, Costa Rica, Croatia, Czech Republic, Ecuador, Ethiopia, France, Germany, Greece, Guatemala, Honduras, Hungary, India, Indonesia, Iraq, Israel, Italy, Jordan, Kuwait, Lebanon, Lithuania, Malta, Mexico, Moldova, Nepal, Paraguay, Poland, Portugal, Romania, Slovenia, Slovakia, South Korea, Spain, Switzerland, Trinidad, Tunisia, Turkey, U.A.E., the Ukraine and the U.K
Stocks Rise in Asian Session
The Yen is weak, while the Pound is currently the strongest major currency. Almost all major currencies have been rising against the U.S. Dollar. The Forex market may see abnormally high activity today as it is the last day of the month of August.
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