MarketDeal24.Com – Here are five things to keep in mind in the financial market on Friday, 20h November:
The National Centers for Disease Control has instructed Americans not to leave their homes on Thanksgiving holidays. Earlier, the same guidelines were issued on Memorial Day and Labor Day to prevent corona infection.
A curfew was imposed in the state of California from 10pm to 5am on Thursday night as the state struggled to contain the recent Corona epidemic. On Thursday, for the first time, the number of hospital admissions across the country exceeded 80,000, which is 70% more than last month.
Treasury Secretary Steven Mnuchin has refused to increase the authority of the Federal Reserve’s emergency lending program overseen by the central bank. Mnuchin said the central bank has many other activities in addition to such programs through which they can provide loans.
The Federal Reserve, meanwhile, opposes Mnuchin’s assertion that the availability of all kinds of programs must be ensured until the current economic crisis is overcome. Although Senate leader Mitch McConnell has said they are ready to discuss incentives again.
The US stock market is going to start the day in a mixed state. The boom in the market last Monday in anticipation of the corona vaccine has begun to wane.
8:35 a.m. Eastern time Dow 30 futures fell 0.2% or 57 points. On the other hand, S&P 500 futures fell 0.1% and Nasdaq futures fell 0.2%.
Gilead Sciences (NASDAQ: GILD) will be among the companies to be targeted in the stock market, according to the World Health Organization. There will also be a special focus on Tesla (NASDAQ: TSLA). Moreover, Pfizer and BioNTech said they have applied for FDA approval of the Corona Vaccine.
Chinese President Xi Jinping has said that China is firmly committed to globalization and free trade.
“We will not go back to the past and do not want to get involved in any new problems,” Xi Jinping said after meeting with political and business leaders.
He said China would sign many more free trade agreements in the future. A few days ago, they signed a regional trade agreement that excludes the United States but includes Australia and New Zealand, in addition to all the countries in Southeast Asia.
Meanwhile, the central banks around the world have changed their economic policies, but the People’s Bank of China is not moving in that direction, keeping their interest rates unchanged at 3.75%.
The British sterling is set to end the week against the US dollar at its high position since August. Behind this price increase is their strong economic report and the prospect of a Brexit deal.
At 6:35 a.m. Eastern time, the pound rose 0.2% to $1.326 today, up 0.8% this week. The pound is trading at 1.12 against the euro.
Earlier UK retail sales came in better than expected, although the amount of government debt came in lower than expected.