Market Overview

21 October 2020 13:53

Lysakov Sergey

European stocks started the day slightly higher but then slipped to the negative territory before noon as hopes for a fresh monetary stimulus from the European financial institutions are fading on spreading virus concerns. The market sentiment doesn't look like any big sell-off now, but most traders are just cautious. One exception in the corporate world is, Ericsson whose stocks soared over 7% today after the telecom giant said its Q3 earnings were way ahead of market estimates, and its CEO was "more confident" in meeting the company's 2020 targets.
19 October 2020 12:15

Lysakov Sergey

The first Asian trading hours on Monday began with a moderate recovery of the U.S. S&P 500 broad market index futures by almost 1%, to the 3500 area and slightly above, after the markets' corrective closed below 3470 at the end of last week. A positive impulse came from Pfizer Inc after the drug maker announced it hopes to move ahead with the availability of a COVID-19 protective vaccine in the third week of November when at least the emergency use authorisation in the United States could be possible. That means the U.S.
16 October 2020 12:55

Lysakov Sergey

The global stocks made a deeper downside correction on Thursday, perhaps because they were frightened by the clearly slowing economic recovery in Europe and a possible vulnerability of the asset prices during the following weeks before the U.S. presidential elections. However, later in the day the S&P500 broad market futures and the major European indexes  recovered by almost a half, as new hopes of the EU-U.K. trade deal came, plus the sitting U.S.
14 October 2020 14:04

Lysakov Sergey

The U.S. S&P500 broad market index, as well as the European stocks on average, are holding the gains of the previous two weeks, despite uncertain expectations ahead of the November 3 elections in the United States. The British Guardian said yesterday that their own opinion poll showed, a Democratic presidential nominee Joe Biden’s lead over the sitting president Donald Trump has surged to even a record 17 points, so that Biden was ahead by a 57-40 margin before the final sprint. The handicap is even bigger than a 57%-41% margin discovered by CNN.
13 October 2020 11:50

Mark Goichmann

Shares and crude prices have been paradoxically climbing since the beginning of this week amid the worldwide expansion of a second wave of the coronavirus. Seemingly, risky assets like stocks and oil should be at severe pressure as infections spike. But, an overall optimistic vibe has made controversial moves of these assets possible for certain reasons. Sitting U.S. President Donald Trump has unexpectedly advocated a bigger relief plan for the American economy that made even his Republican fellows disconcerted.
12 October 2020 13:05

Lysakov Sergey

The mellow season of the U.S. corporate earnings in October starts mostly from the banking sector. Some of the largest banks will release their Q3 reports on Tuesday, just after Columbus Day. Meanwhile, a growing number of American cities, states and even universities are replacing Columbus Day with Indigenous Peoples’ Day, also known as Native American Day. Several Columbus statues came down this summer amid many days of protests caused by the death of George Floyd at the hands of Minneapolis police in May.  By the way, the sitting U.S.
9 October 2020 13:20

Lysakov Sergey

Even some of Donald Trump's close Republican allies or campaign advisers were stunned by the initial U.S. President's decision to stop any talks on the ill-fated financial stimulus bill with his Democratic opponents, after Trump said on Tuesday night that he would return to negotiations “immediately after I win” the election. This temporarily harmed American and global stock prices immediately as it happened just hours after the Federal Reserve Chairman Jerome Powell called for additional fiscal support to avoid what he said could become a “tragic fallout" for the U.S. economy.
6 October 2020 11:35

Lysakov Sergey

Some questions remain but not many about the true state of Mr Trump's health, as he was discharged from the hospital last evening. The U.S. President descended from the huge Marine One helicopter wearing a white protective face mask as he walked towards the White House, only to remove the mask immediately when he started to pose and wave on the mansion's South Portico.
2 October 2020 11:48

Lysakov Sergey

Gold prices prudently jumped above $1915 per troy ounce at the very beginning of the European morning trade, as many on the market decided to keep their investments out of harm's way. It happened just as an immediate response when U.S. President Donald Trump tweeted that he and the first lady of America tested positive for the coronavirus. "We will begin our quarantine and recovery process immediately. We will get through this TOGETHER!" he shared with his social network followers. It comes after Hope Hicks, one of his closest aides, was tested positive.
28 September 2020 09:45

Lysakov Sergey

The macroeconomic patchwork hardly has the potential to define the major asset price movements for now but rather the facts of the U.S. political battle come be at the forefront this week. The presidential race is coming up to its final lap, just about a month before the crucial voting day on November 3. The Democratic nominee Joe Biden who was also the former vice president alongside Barack Obama - and the sitting president of the United States Donald Trump are going to meet onstage in Cleveland for the first debate of the general election.
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