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Top 5 things to watch in Tuesday's financial market | 20th October, 2020




Top 5 things to watch in Tuesday’s financial market | 20th October, 2020

  • Update Time : Tuesday, October 20, 2020
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MarketDeal24.Com – Here are five things to keep in mind in the financial market on Tuesday, 20th October:

1. The stimulus deadline ends today

Today is the end of the deadline to reach an agreement with the House Democrats with the Trump administration and GOP-controlled senators for stimulus packages.

House Speaker Nancy Pelosi said Monday that the distance between the two sides is narrowing, but to be honest neither side feels the need to reach an agreement for their election campaign.

Meanwhile, President Trump has denied reports of an election funding crisis against him. He said in an election campaign that he could raise billions in a single day if he wanted to. For example, from Exxon Mobil (NYSE: XOM) he can make a lot of money with a few mining licenses.

2. Netflix results

All eyes will be on the most popular stay at home stock Netflix, as Netflix will release its third-quarter report during closing today.

Experts estimate that the company added 2.5 million new subscribers this quarter, and the share price reached $2.12, up 45% from last year. The company has not performed as well as expected in the last two quarters, but the share price has doubled this time.

The point of today’s report is how long a subscriber watches Netflix on average.

3. US stock market is set to open high

The US stock market is going to start the day on an upward trend. Although the share price fell slightly during the closing on Monday, today again investors are seeing some light of hope that a positive decision will come before the end of the incentive deadline.

At 6:25 a.m. Eastern time, the Dow 30 futures rose 190 points, or 0.7%, while the S&P 500 futures rose 0.7% and the Nasdaq futures rose 0.7%.

4. Ireland on the way to lockdown

Ireland has announced a six-week lockdown on all non-mandatory businesses. By far the most dramatic decision of any European government has been to prevent the second phase of the coronavirus infection.

Where other governments in Europe are imposing restrictions at the local level, no one has gone to such a tough position as Ireland.

It remains to be seen how successful Ireland’s decision will be in preventing corona. It is also a matter of seeing how people take the lockdown in the second phase.

Wales has announced a two-week lockdown in Europe.

5. Consolidation of shell companies is underway

The consolidation of oil companies is increasing day by day. Following in his footsteps, the shell company Pioneer Natural Resources (NYSE: PXD) and Parsley Energy (NYSE: PE) are set to merge. The Wall Street Journal reports that the decision was made for the benefit of the shell sector.

Earlier in the day, ConocoPhillips (NYSE: COP) had agreed to buy shares of Concho Resources (NYSE: CXO) for $9.8 billion.

Inventory data for the American petroleum industry will be released as usual at 4:30 p.m. Eastern Time.

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