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D&D Note (7.8.2020) ~ Mega Cap Tech Rally Lifts Markets While US Reports Record Single Day Coronavirus Spike ~ #StockMarket #MegaCapTech #Coronavirus

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D&D Note (7.8.2020) ~ Mega Cap Tech Rally Lifts Markets While US Reports Record Single Day Coronavirus Spike ~

The China rally continued overnight and U.S. markets opened higher but drifted into the red. Then we had a rally in the final hours of trading to close near the highs made in the morning session.

Rising U.S./China tensions along with rising Covid-19 infections were overlooked in todays trading.

U.S. virus cases passed 3 million and reported single day record spike of 60,021 new cases.

The Trump administration is considering banning TikTok in retaliation against China.

Gold broke through $1800 an ounce to the highest level since 2011 to near all time high.

Apple hits record high of $382.20 a share even while the vast majority of their physical stores have been re-closed due to the surge in virus cases in the U.S.

Tesla breaks its winning streak finishing in the red today down -2.00%.

Chinese tech stocks rally with BABA up 8.95% and TCEHY up 6.60%.

DOW up 0.68%

S&P 500 up 0.78% (3169.94)

NASDAQ up 1.44%

VIX down -4.42% to 28.13

Oil up 0.54% to $40.84 a barrel.

Gold up 0.46% to $1818.30 an ounce.

U.S. Virus cases rise 2% higher than average daily increase.

Mayor Carlos Gimenez of Miami-Dade County blames young people that have ignored the social distancing guidelines for the massive spike in cases and asks for a national face mask mandate.

Global Virus cases: 12 million+

Global Virus deaths: 548,822+

U.S. Virus cases: 3.05 million+

U.S. Virus deaths: 132,256+


~ Dave James / Principal Trader and Market Strategist

About ddinvestments

Trading Partner for D&D Investments


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