NASDAQ gains ahead of big tech testimony

European Central Bank President Christine Lagarde has “little doubt” that policy makers will be able to agree on a new stimulus package in December to have support European economies as coronavirus infections and reinstated lockdowns threatened a double-dip recession.

EUR/USD had dropped below 1.17 to 1.1674 after falling 0.61% during today’s trading session. Major European stock markets ended trading mostly flat with the IBEX 35 being an exception with a 0.97% decline. The DAX was the lone winner on the day with a modest 0.32% increase.

US Markets recover and wait for earnings

Stock Markets in the US recovered some of yesterday’s losses as the NASDAQ rallied 2.33% heading into the close, with the S&P 500 up 1.84% and the Dow rising 0.94%.
After the bell tech heavyweights; Alphabet (Google), Amazon. Apple, Facebook and Twitter will all report earnings. The latest results and tone from these companies’ earnings calls will likely determine how tomorrow’s trading session opens in the United States.

Oxford University to test for asymptomatic coronavirus cases

As COVID-19 cases continue to rise in Europe and elsewhere, Oxford University announced that they will begin a trial of new testing technology that will aim to produce results in minutes, even in asymptomatic individuals that are carrying the virus.

Quote of the day – “The business schools reward difficult complex behaviour more than simple behaviour, but simple behaviour is more effective.”

Warren Buffett

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Eliman Dambel

Senior Market Analyst