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27.03 - bulls or bears? Which one rules the markets today?



So, as Chinese economy is beginning to open up after months of strict shut-down, we are beginning to see the real influence of Covid-19 on national economies. With factories gradually coming back to life, we are receiving all sorts of information on their state and their finances. And we can see that Chinese industrial section is posting the steepest fall in profits in a decade. This means that it is to be expected of every economy and most of the factories shut down at the moment.


In the meantime, USA has become the new hub for the spread of the virus which must effectively out an end to Trump’s idea of opening the country up for business in just a few weeks. Surely, the longer this shut down is going to last, the more money USA is going to lose and the weaker the USD is going to become. And this is going to undermine the economy of the entire world – just what we were talking about in the last several weeks.


In their turn markets can’t make up their minds on whether they are dominated by a bull or a bear. Either way, both of the animals do not seem to be interested in a fight right now and as a result we see the current performance of the markets. They are either jumping or slumping. Traders are in a tough spot and can’t make any decisions. That is why we are where we are today.


Oil keeps in with the slide. Precious metals are mixed with gold going lower and lower.


Here are the main movements for the end of the week:


Topix added 4.3 percent.

Kospi recovered 1.9 percent.

Shanghai Composite increased 0.3 percent.

Hang Seng from Hong Kong grew 0.6 percent.

S&P 500 futures are lighter by 2.3 percent.

Euro added 0.5 percent - $1.1009.

Pound recovered 2.6 percent - $1.2263.

Yen grew 1.1 percent – 108.64 per dollar.

Canadian dollar added 0.5 percent - $1.4069.

Tesla lost 2.1 percent - $528.16.

Apple added 5.3 percent- $258.44.

Facebook added 4.6 percent – $163.34.

Amazon recovered 3.7 percent – $1955.49 per share.

Google advanced 5.6 percent- $1162.92.

WTI is lighter by 2.4 percent - $22.6 per barrel.

Brent dropped 3.3 percent - $26.04.

Gold dropped 0.5 percent - $1624.22 per ounce.

Silver grew 1 percent - $14.53 per ounce.

Platinum advanced 1.1 percent – $741.85.

Palladium increased 0.6 percent - $2345.45 per ounce.