|Day's Range||4,941.73 - 4,991.06|
|52 Week Range||3,632.06 - 6,111.41|
Yesterday there was a sense of optimism running through the markets as the FDA fast-tracked a couple of drugs that have the potential to be Covid-19 vaccines.
It’s a busy day ahead. The economic calendar, U.S earnings, and COVID-19 are key drivers on the day.
Stock markets in Europe and the US rallied on Friday as there was a sense of optimism circulating on the back of hopes for a treatment for coronavirus. A study found that Remdesivir, an anti-viral drug produced by Gilead Sciences, reduced the fatality rate by 62%.
It’s a quiet day of a busy week on the economic calendar. With earnings also in focus this week, there’s plenty for the markets to think about.
It will be another testy day for the European majors. There are no material stats to consider, leaving COVID-19 and geopolitics in focus.
The health crisis-hit European stock markets yesterday. Continental Europe came off worse as the DAX 30 lost nearly 1%, and the CAC 40 fell over 1%, while the FTSE dropped by 0.55%.
European stock markets traded higher Thursday, with healthy results from software giant SAP (DE:SAPG) pointing to an economic recovery but investors remain wary of the mounting coronavirus cases ahead of the new earnings season. Helping the German index outperform Thursday were strong gains from SAP, up 7.5% at a new all-time high, with the business software giant posting a rise of 8% in its second quarter operating profit, helped by a recovery in software license revenue in the Asia Pacific and Japan region. Elsewhere, fashion retailer boohoo.com (LON:BOOH) shares bounced sharply after its biggest shareholder, Jupiter Fund Management (LON:JUP), delivered a vote of confidence in the company by raising its stake to over 10%.
U.S weekly jobless claims will be in focus later. Earlier in the day, expect any Brexit chatter and updates on COVID-19 to influence.
The futures point to a bearish open for the European majors. A lack of data will leave the majors in the hands of the news wires and COVID-19…
Futures point to more gains, though a light economic calendar leaves the majors exposed to the news wires and geopolitical risk.
The health crisis weighed on European equity markets on Friday. Towards the end of last week, Dr Anthony Fauci, a US health official and expert in infectious diseases, warned that Covid-19 might have mutated, which could allow it to spread at a faster pace
The futures markets are pointing northwards ahead of the European open. Geopolitics and COVID-19 could darken the mood, however…
It was a week of positive stats and news of progress towards a COVID-19 vaccine. Spikes in new cases across the U.S did test risk sentiment, however.
There’s plenty to consider as we enter the 3rd quarter. Brexit, a labor market recovery, possible trade wars, and Trump are all there to influence…
European stock markets traded mostly higher Wednesday, as some better-than-expected economic data indicated that the economic recovery in Europe is on track, despite lingering concerns about the Covid-19 outbreak both at home and, more acutely, in the U.S. It was cautious about the outlook for the rest of the year, but said it had repaid 500 million pounds that it had drawn down from a credit facility as a precautionary measure at the start of the outbreak.
It’s a particularly busy day ahead on the economic calendar, which will provide direction. COVID-19 numbers will continue to be a concern, however…
It’s a busy month ahead, with corporate earnings thrown into the mix. COVID-19, geopolitics, and economic data will also continue to drive the majors.
Boris Johnson focuses on infrastructure spending in an effort to revitalize the UK economy. Yahoo Finance’s Tom Belger discusses.
Today, the UK government is set to layout its own plans for an investment bonanza with extra money for infrastructure, schools and hospitals, against a backdrop of the worst economic outlook since the second world war. The details are expected to be laid out by PM Johnson in an announcement later.
It was a dicey week for the markets, with COVID-19 spikes across a number of U.S states raising doubts over a swift economic recovery.