Stock markets dip on fading US stimulus hopes and poor earnings
Global stock markets have continued to fall for the third straight day as hopes for a US stimulus before the election fade. Treasury Secretary Steven Mnuchin said that reaching a stimulus deal to help navigate the economic impact of the coronavirus would be difficult before the election as both parties still remain far apart on some issues.
Earnings season has also kicked off with very mixed results. Banking giants Goldman Sachs and Bank of America's results topped analyst expectations but Wells Fargo and United Airlines fell well short. This is now the second earnings season to take place over the pandemic and is arguably the most important one.
Today, investors await earnings for Morgan Stanley, Charles Schwab and Walgreens Boots Alliance, among others.
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How to trade S&P 500 with Admiral Markets UK Ltd
If you are feeling bullish or bearish on the price of S&P 500 you can speculate on its price direction using CFDs. To get started, follow these five simple steps:
- Log in to your existing Admiral Markets trading account, or open a live or demo trading account in just a few minutes.
- Click Trade on your chosen account which will direct you to the Admiral Markets MetaTrader Web Platform.
- Type in SP500, or another instrument, at the bottom of the Market Watch search box and then drag the symbol onto the chart.
- Use the one-click trading feature on the chart or right-click on select Trading -> New Order.
- Choose your entry, stop loss and target levels and position size (volume) and then confirm the trade.
Source: Admiral Markets MetaTrader 5 Web, SP500, Monthly - Data range: Oct 1, 2006, to Oct 15, 2020, performed on Oct 15, 2020, at 7:09 am BST. Please note: Past performance is not a reliable indicator of future results.
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