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

Long-term review
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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 InstaForex
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