MarketDeal24.Com – Here are five things to keep in mind in the economic market on Thursday, 15th October:
The coronavirus situation in Europe is deteriorating. Record number of people were infected with corona in a single day in Italy, while a record increase is also taking place in Germany. France has declared a state of emergency at the national level where curfews have been imposed in major cities.
Almost all indices in the European stock market have started the day on a downward trend amid widespread transmission of the coronavirus and a partial lockdown in the eurozone. Britain’s FTSE 100 fell 132 points or 2.23%, France’s CAC 40 fell 118 points or 2.34%, Italy’s FTSE MIB fell 563 points or 2.6%, and Germany’s DAX fell 396 points or 3.05%. Decreased.
The stock market in Europe as well as the United States is in a downward spiral as Treasury Secretary Steven Mnuchin says it is almost impossible to approve an incentive package before the election.
The U.S. economy could deteriorate further if this week’s unemployment claims are published. Unemployment is forecast to hover above 825,000 this week, close to last week’s figure.
At the same time, the Philadelphia Fed’s monthly business survey will be published.
U.S. stocks are still going to start the day on a downward trend today. Overnight, the stock market witnessed a sharp decline as the possibility of stimulus weakened. In addition, United Airlines’ third-quarter report forecast has the potential for massive losses. United Airlines shares fell 1.5% in pre-market trading.
At 6:30 a.m. Eastern time, the Dow futures were down 246 points, or 0.6%, while the S&P 500 futures were down 0.75% and the Nasdaq futures were down 1.50%.
The stock market was volatile on Wednesday after the New York Post published a report stating that members of a Ukrainian company had ties to Democratic presidential candidate Joe Biden. One of the company’s board members is Biden’s son Hunter.
However, the report became more serious when Facebook (NASDAQ: FB) and Twitter deleted the report from their networks, raising suspicions about Silicon Valley’s anti-conservative attitude.
Joe Biden is now 11 percent ahead of President Trump, according to a poll by the Wall Street Journal and NBC.
Crude oil prices fell yesterday on increased risk in the global stock market.
6:25 a.m. Eastern Time U.S. Crude futures traded down 2.7% at $39.96 per barrel, while Brent futures traded down 2.4% at $42.29 per barrel.
American Petroleum Institute’s official inventory data will be released today at 10:30 a.m.
OPEC Plus’ technical experts will also meet in Vienna to discuss their production and demand.