US Stocks closed in the red. Dow Jones and S&P 500 retreated from record highs

April 20, 2021

The US indices declined by 0.4-1%. It was partially triggered by a Tesla car crash near Houston and a decline in shares of Microsoft, Amazon, and Nvidia ahead of quarterly reports.

The producer price index (PPI) in Germany jumped 3.7% in March compared to the same month a year earlier, showing the highest rise in 9 years. It happened due to the increase in the cost of energy carriers by 8-9.6%.

China has not changed its base rate for corporate and private loans for the twelfth consecutive month. The annual rate on loans to first-class borrowers (Loan Prime Rate, LPR) remained at 3.85%, while the five-year rate was kept at 4.65%.

Libyan oil company National Oil Corp has announced force majeure for shipments from Hariga port. It could reduce oil exports from Libya by 280,000 barrels per day – down to 1 million barrels per day, which triggered the rise of oil prices.

The dollar index dipped to a six-week low against other major currencies on Monday following a decline in US Treasury yields last week and remained close to it in the Asian session on Tuesday.

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The US economy could see a strong recovery this year as consumers have $2 trillion in savings, higher than pre-pandemic levels.

Main market quotes:

S&P 500 (F) 4,161.38 +5.88 (+0.14%)

Dow Jones 34,077.63 -123.04 (-0.36%)

DAX 15,372.90 +4.51 (+0.03%)

FTSE 100 6,989.75 -10.33 (-0.15%)

USD Index 90.915 -0.135 (-0.15%)

Important events:

– UK Jobless Claims (Apr) at 09:00 (GMT+3).

by JustForex

This article reflects a personal opinion and should not be interpreted as an investment advice, and/or offer, and/or a persistent request for carrying out financial transactions, and/or a guarantee, and/or a forecast of future events.

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US Stocks closed in the red. Dow Jones and S&P 500 retreated from record highs