NEW YORK – U. S. stocks fell Monday morning after they first made a profit after a report that China’s economy grew at an annual rate of five% in the last quarter.
Investors are also preparing for a busy week of earnings reporting.
Reference index S
Small stocks were getting better. Russell 2000 rose to 0. 4%.
China, the first country to suffer from coronavirus outbreaks and the first primary economy to emerge from the pandemic and begin reopening after closures, giving a special touch to other countries like the United States and Japan that have industry with China. 6. 8% in the first quarter of this year, China’s economy grew by 3. 2% in the April-June quarter and 4. 9% in July-September.
ConocoPhillips fell less than 1% after the oil giant announced that it would buy Concho Resources for $9. 7 billion, the deal is the largest in the oil industry since crude oil fell this year due to the COVID pandemic.
In the United States, additional stimulus measures for the U. S. economy are still pending. House Speaker Nancy Pelosi said time runs out to pass action before the November 3 election.
Investors expected Washington to provide more money to the economy since July, when an additional unemployment benefit package of $600 a week was exhausted.
Senate majority leader Mitch McConnell is expected to provide his edition of a Senate stimulus bill for his vote Wednesday, however, this bill is to get some traction with the Democratic-controlled House of Reprovidents.
European inventory indices were mixed. Germany’s DAX lost 0. 1% and France’s CAC 40 rose 0. 4%. London’s FTSE 100 fell by 0. 2%.
Inventories in Asia were also mixed. The Nikkei 225 index rose 1. 1%, while Hong Kong’s Hang Seng rose 0. 6%. Shanghai’s composite index fell by 0. 7%.
24/7 policy of the latest news and events.