US Stocks finish mixed on rotational shifts

The US stock market finished session mixed on Tuesday, 10 November 2020, as investors continued to pull money out of the growth stocks that have benefited most from the pandemic in favour of value stocks.

At the close of trade, the Dow Jones Industrial Average index advanced 262.95 points, or 0.9%, to 29,420.92. The S&P 500 index fell 4.97 points, or 0.14%, to 3,545.53. The tech-heavy Nasdaq Composite Index fell 159.93 points, or 1.37%, to 11,553.86.

Tech shares continued to retreat. Popular stay-at-home plays including Netflix and Zoom continued to fall as investors bet on near-term vaccine distribution. Shares of Amazon fell 3.5% as the online-retail giant faced an antitrust complaint from the EU.

Boeing shares lifted 5.2% on news that regulators could lift the 737 Max grounding as soon as next week.

Major currencies eased against the US dollar in the US trade. The Euro fell from highs near US$1.1841 to near US$1.1805 at the US close. The Aussie dollar fell from highs near US72.92 cents to was near US72.80 cents at the US close. The Japanese yen fell from 104.90 yen per US dollar to near JPY105.30 at the US close.

Among Indian ADR, Vedanta fell 3.68% to $5.49, Tata Motors fell 1.67% to $10.03, ICICI Bank shed 1.41% to $13.25, Azure Power Global fell 1.86% to $28.99, Dr Reddys Labs declined 2.24% to $62.96, Wipro fell 3.15% to $4.92, and INFOSYS fell 1.96% to $14.54. HDFC Bank added 0.84% to $67.32 and WNS Holdings rose 0.49% to $67.90.

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