U.S. Jobless claims surprisingly rise – 19th November
As with every Thursday, Initial Jobless Claims in the United States have been released, this week’s data showed a rise in figures.
The number of Americans seeking unemployment benefits rose, to the surprise of markets, coming in at 742,000 for the week ending November. 14th.
Analysts had forecasted claims to fall to 707,000 applications for the latest week, however with COVID-19 cases in the U.S. on the rise, the labour market continues to face difficulties.
As of writing the S&P 500 was down 0.08%.
Brexit talks postponed due to COVID scare
As the deadline for reaching a Brexit deal nears, many believe that time needed to reach an agreement may be expiring, this comes as talks were suspended earlier today.
Negotiators opted to postpone formal talks on Thursday after a member of the European team tested positive for COVID-19.
Tytti Tuppurainen, a Finnish Minister stated that, “The time pressure is huge, and we all realise that time is running out … I haven’t given up faith.”
He went on to add that, “We all have to do our utmost in order to reach the agreement. That’s the aim of the EU. We want to have a comprehensive, a balanced agreement with the UK.”
The DAX was down 0.88%, with the FTSE 100 dropping 0.80%
WHO says lockdowns are avoidable?
With most of Europe now once again under lockdown restrictions, the European office of the World Health Organisation stated that these measures are avoidable.
Hans Kluge, who is a director at the WHO stated that, “Europe is once again the epicentre of the pandemic, together with the United States. There is light at the end of the tunnel, but it will be six tough months. Lockdowns are avoidable, I stand by my position that lockdowns are a last resort measure. Mask use is by no means a panacea and needs to be done in combination with other measures. However, if mask use reached 95%, lockdowns would not be needed.”
Close to 30,000 Europeans have died in the past week from the virus.
Quote of the day – “I’m always thinking about losing money as opposed to making money. Don’t focus on making money, focus on protecting what you have”Paul Tudor Jones
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Senior Market Analyst