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Top 5 things to watch in Monday's financial market | 9th November, 2020




Top 5 things to watch in Monday’s financial market | 9th November, 2020

  • Update Time : Monday, November 9, 2020
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Top 5 things to watch in Monday's financial market | 9th November, 2020
Top 5 things to watch in Monday's financial market | 9th November, 2020

MarketDeal24.Com – Here are five things to keep in mind in the financial market on Monday, 9th November:

1. Depreciation of the US dollar worldwide

The US dollar has continued to depreciate as investors invest in risky currencies around the world since Joe Biden won the US election.

At 6:15 a.m. Eastern time, the US dollar index, which sets the value of the US dollar against major currencies, fell to 92,293. The US dollar index fell nearly 2% last week.

The US dollar depreciated against the Chinese yuan. The yuan has reached its highest level in almost two years. The value of the Mexican peso and the Russian ruble has risen as investment in risky currencies has increased.

Meanwhile, the Turkish lira has gained 6% against the US dollar.

2. The global stock market is upward

Biden’s victory in the US election has led to a massive rise in global stock markets. With Biden’s victory, everyone is hoping that the new administration will take new steps to prevent the Corona infection.

SHANGHAI COMPOSITE, one of the largest stock market indices in Asia, rose 61.57 points, or 1.57%, to 3,364 points. Britain’s FTSE 100 rose 69 points, or 1.34%, to 5,990, France’s CAC rose 40, 65 points, or 1.51%, and Italy’s FTSE MIB rose 394 points, or 2.00%.

3. US stock markets are set to open high

The US stock market is about to start the day on an upward trend. In addition, the global stock market were also closed high. Investors have begun to rely on the market and are not heeding Trump’s legal battle.

At 6:25 a.m. Eastern time, the Dow futures gained 421 points, or 1.5%, while the S&P 500 futures rose 1.5% and the Nasdaq futures rose 1.6%.

Today McDonald’s, Walt Disney (NYSE: DIS) and Lyft (NASDAQ: LYFT) will release earnings reports

4. Record amounts of corona virus infection; Declared a state of emergency in Utah

Despite the skepticism about the election, the United States is in a bad position to fight the corona virus. A record number of people have been newly infected with corona this weekend. In the last four days, 1 lakh people have been newly infected, with hospital admissions exceeding 55,000, which is close to the highest level since August.

Meanwhile, a state of emergency has been declared in Utah. Mask has been made compulsory across the state.

The situation is not so good in Europe, where Germany has recorded the highest number of attacks in a single day.

5. Softbank profits 6 billion US dollars

Softbank has lost about $1.3 billion in technology stocks this summer, but still has a third-quarter profit of $6 billion. Of these, Vision Fund portfolio has the highest profit margin.

Softbank became known as the “NASDAQ Whale” this summer, where the company placed billions of dollars on technology stocks as a result of rising technology stock prices in the early stages of the Corona transition.

Softbank’s shares rose 5% in Tokyo ahead of the results.

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