MarketDeal24.Com – Here are five things to keep in mind in the financial market on Thursday, 12th November:
The rise in global stock markets following the news of the development of the Pfizer vaccine has been reversed by an increase in the number of coronavirus infections in various countries.
European stock markets have fallen. The eurozone’s industrial output fell 0.4% in October, indicating a second phase of corona infection. European countries are experiencing a lockdown, and their stock markets are beginning to feel the effects.
In addition, the increase in the number of new corona infection in New York State has had a negative impact on the market. Various restrictions have been imposed in New Jersey.
The reality of the state of the U.S. economy this week can be seen in today’s Initial jobless Claims Report, which will be released at 6:30 a.m. Eastern Time.
Initially, unemployment claims fell from 751,000 to 735,000 last week, with a further 38,500 expected to fall this week.
Besides, consumer price inflation for the month of October will be released at 8.30 am.
Today, most stocks in the US stock market are down, with technology stocks trying to recover.
At 6:30 a.m. Eastern time, the Dow Jones futures were down 125 points or 0.4%, while the S&P 500 futures were down 0.1% and the Nasdaq futures were up 0.3%.
Today, Walt Disney (NYSE: DIS) and Cisco Systems (NASDAQ: CSCO) will release their third quarter earnings reports.
Federal Reserve Chairman Jerome Powell, ECB President Christine Lagarde and Bank of England Governor Andrew Bailey will address the Central Banking Virtual Forum at 11:45 a.m. Eastern time.
Powell will appear in front of the media for the first time since Joe Biden was elected in last week’s US presidential election.
Lagarde, meanwhile, said at an event on Wednesday that the ECB would focus on a $1.35 trillion bond-buying program between the long-term loan offer and the Corona situation.
The IEA has followed OPEC in releasing their forecast for global oil demand this year as global coronavirus infections have increased.
They hope that if there is any good news about the vaccine, it will have a huge impact on the oil market and the oil price will recover in 2021.
The U.S. government’s oil reserves report will be released today at 10:30 p.m. They did not release the report as it was a public holiday yesterday.