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Top 5 things to watch in Tuesday's financial market | 10th November, 2020

Top 5 things to watch in Tuesday’s financial market | 10th November, 2020

  • Update Time : Tuesday, November 10, 2020
  • 18 Time View
Top 5 things to watch in Wednesday's financial market | November 25, 2020
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MarketDeal24.Com – Here are five things to keep in mind in the financial market on Tuesday, 10th November:

1. The global stock market is stable

The stock market has seen a stabilization today after a massive rally in global stock markets on Monday.

Chinese stock markets fell today as their producer price index fell, but other stock markets in Asia and Europe ended up. The Euro Stoxx 50 reached its highest level in eight months today.

Safe assets, 10-year German and US Treasury bonds fell today but remain at a eight-month high.

2. McConnell’s support for Trump’s legal battle has faded the chance of stimulus

Senate leader Mitch McConnell in his recent speech spoke in favor of President Trump’s legal battle.

Experts believe that his position will reduce the likelihood of an stimulus package at the end of the current Congress.

On Monday, the number of corona cases in the United States exceeded one lakh in four consecutive days. The worst-hit areas are California, Texas and New Mexico.

The number of hospital admissions across the country has crossed 59,000, which is a new record for this year.

3. US stock market is going to start in mixed condition

The U.S. stock market is set to start mixed today as the price rise in response to the news of Pfizer’s vaccine development has begun to decline somewhat.

At 6:30 a.m. Eastern time, Dow futures rose 192 points, or 0.7%, while S&P 500 futures fell 0.3% and Nasdaq futures 1.9%.

The stock market will focus on Beyond Meat (NASDAQ: BYND), which fell 20% in just a few hours after the loss report was released on Monday.

4. Technology companies threatened with tax hikes; European stock markets are upward

A new government is being formed in the United States, with the European Union threatening to impose new sales taxes on large companies.

The European Union has imposed new tariffs on Boeing (NYSE: BA) and other American companies, and the World Trade Organization has claimed that the airline is receiving unethical aid from the US government.

Germany’s economic sentiment-determining ZEW index, released on Tuesday, fell for the second month in a row as a record amount of corona was reported in Germany.

A record amount of jobs have fallen in the UK and the unemployment rate is at its highest level in four years.

5. Increase in oil prices; All eyes are on the API

Oil prices rose slightly today as a result of Monday’s news of the corona vaccine.

At 8:35 a.m. Eastern time, U.S. crude futures rose 1.2% to $40.83 a barrel. International benchmark Brent Oil, on the other hand, rose 1.4% to $42.94 a barrel.

The weekly report of the American Petroleum Institute (API) will be published at 4:30 p.m. Eastern time as usual.

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