In the currency market on Tuesday, the dollar index resumed its slide and with a bit fall of -0.33 percent was at 90.01 points, returning to its lowest level versus a basket of currencies since March 2018. The euro finished at a marginal high with +0.15 to $1.2223.
The new U.S. house price estimates on the macro-economic front show that, amid the health crisis, the market continues to prosper. As a result, in October, the S&P/Case-Shiller Home Price index increased even more than expected, with the ’20-City’ index of the top 20 metropolitan areas climbing on an adjusted basis by 1.6 percent month-on-month, versus a forecast of 0.7 percent and after a rise of 1.4 percent in September. The real estate price index rose by 7.9 percent year-on-year.
On the Wall Street, Intel Corporation (INTC) was up +4.93% on the day to $49.39 as the activist hedge fund Third Point, headed by Daniel Loeb, takes a close look at the case of the U.S. microprocessor manufacturer. Third Point encouraged Intel management, according to CNBC, to consider its “strategic options,” including splitting the design and development of its chips. Daniel Loeb calls for urgent action to reinforce the company’s position as a major supplier of processor chips for PCs and data centers in a letter sent Tuesday to the president of the chipmaker, Omar Ishrak, and deplores the loss of market share faced in recent years.
The Boeing Company (BA) was stable at +0.07% to $216.25 whereas American Airlines Group Inc. (AAL) was down -1.25% to $15.86. On Tuesday, the resumption of 737 MAX flights in the United States took place with an American Airlines flight connecting Miami to New York. The Federal Aviation Administration (FAA) has stated that it would change the approval process to incorporate a text passed in Congress for new aircraft after the 737 MAX was grounded after two air disasters.