On the eve of the big week of the earnings season, the 3 primary inventory rates rose nearly 1% on Monday morning after House Speaker Nancy Pelosi (D-California) added urgency to weekend stimulus negotiations amid an unexpected accumulation of coronavirus cases across the country.
Immediately before the market opened, the Dow Jones industrial average rose one hundred points, or 0. 5%, while the S
Heavyweight movements S
Meanwhile, ConocoPhillips showed that he bought shale giant Concho in a completely equitable deal worth $9. 7 billion, the largest deal in the troubled oil industry since the start of the pandemic, leading the actions of shale giants to 2% and 3%, respectively.
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China on Monday reported a weaker-than-expected third-quarter GDP expansion of 4. 9%, a transparent signal that the global superpower economy, and the only primary economy the IMF expects to grow this year, is still suffering from the coronavirus pandemic.
The Shanghai Composite closed the day with a 0. 7% drop, while other global markets were mixed; The UK’s FTSE 100 has dropped by 0. 4% since the opening of the US market, and France’s CAC 40 has risen 0. 2%.
Despite the outbreak of coronavirus cases at the national level and the lack of greater budgetary relief, the exchange of inventory “gains advantages from the good fortune of a few basically technological movements that gain enormous advantages from the pandemic. Think of Facebook, Netflix, Google and Microsoft,” Moody’s said. The chief analysis economist, Mark Zandi, on a note for the weekend, added that the pandemic also concentrates the percentage of the market on giant corporations (many of which are on the stock market) at the expense of small businesses. “While not a macroeconomic fear, the outdated hypothesis can still infiltrate (think Tesla). “
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House Speaker Nancy Pelosi (D-California) doubled the 48-hour stimulus deadline by pointing out at a weekend appearance on ABC this week that the White House and top Democrats have until Tuesday to reach an agreement if they need to provide coronavirus relief. However, negotiators are unlikely to succeed in an agreement this week, and Goldman, Bank of America and Moody’s have reiterated their expectations in recent days that a new stimulus package will come only after the election. and the maximum peak probably in the first quarter. The renewed emergency occurs amid an additional buildup of coronavirus cases nationwide, with at least 10 states recording a record number of cases over the weekend.
China’s economy continues to recover with a 4. 9% expansion in the third quarter (Forbes)
Pelosi doubles the stimulation time of 48 hours (Forbes)
10 states report record cases of Covid-19 while the US is in the middle of the year. But it’s not the first time Exceeds 8 million (Forbes)
I’m a journalist in Forbes and in markets and finance. I graduated from the University of North Carolina at Chapel Hill, where I did a double degree in business journalism.
I’m a journalist at Forbes and I specialized in markets and finance. I graduated from the University of North Carolina at Chapel Hill, where I majored in business journalism and economics while applying for UNC Kenan-Flagler Business School as a marketing and communications assistant. Forbes, I spent a summer reporting on the personal sector in Los Angeles for the Los Angeles Business Journal and writing about North Carolina publicly traded corporations for NC Business News Wire. Contact jponciano@forbes. com.