The hope of a new US stimulus package kept the markets going
Crude Oil closed 4.9% higher at $4.9% a barrel.
Australia200 surged 2.4% before the Reserve Bank meeting.
In Q3, Tesla managed to deliver 139,300 vehicles – a 56% increase from last year's figures. For the full year, Tesla is looking to deliver around 500,000 cars. The fact that the company doesn't have a specific goal set made investors lose hope. Following the news, Tesla's stock price fell 7%.
Alongside its distributor, Gilead announced that it had been cleared by the US Department of Health and Human Services (HHS) to sell Remdesivir to hospitals directly. The clearance comes after the Food and Drug Administration green-lit the potential vaccine to be used only in emergency cases.
Walmart sells its underperforming UK business, ASDA, for $8.8 billion. The purchase is going to be made by a private entity. After the announcement, Walmart's stock price ended 1% higher.
Tuesday: After the news that the talks of another stimulus package have been postponed until after the US presidential election, the European markets ended the session in the red. Europe50 lost 0.4%, while UK100 fell 0.5%.
EUR/USD ended the session at 1.1773.
Exxon is looking to reduce costs to keep itself afloat. After Australia, Europe is on the list of areas where the company will furlough its workforce. At a European level, 1,600 will remain jobless. In after-hours trading, Exxon stock price lost 0.3%.
The increasing number of COVID-19 infections made the French government toughen the restrictions. Despite Paris being the "red dot" of infections, the Macron government is looking for ways to avoid another national lockdown, as the €100 billion stimulus package is becoming inefficient. France40 closed 0.70% higher after the news.
Wednesday: Google is in the process of revamping its G Suite into Google Workplace. The new productivity app will include new and improved features meant to make work-from-home easier. Alongside new features, Google released two new business plans. After the news, Google stock price closed 2.19% lower.
According to Boeing, the aviation industry will need only 18,350 new planes globally in the next decade. The figures are 11% lower than last year's forecast due to the pandemic's low demand. A return to the post-pandemic level will probably happen starting 2039-2040. The news made the company's stock price to fall more than 3%.
Levi's stock price gained more than 12% after the company released the Q3 earnings report. Levi Strauss showed resilience in the past quarter, reporting a 52% increase in online sales and an overall $1.06 billion in revenue.
Thursday: Due to recurring risk management deficiencies, the American Citigroup was fined $400 million. The fine came after the bank was unable to address various concerns that have been identified in 2013 and 2015.
Facebook announced its plan to stop misinformation regarding the upcoming presidential election. All political ads will be halted indefinitely. The company's stock closed the session 0.12% lower.
Friday: By the end of 2021, IBM will split into two different companies. The move represents the company's way of keeping up with the increased demand in cloud services. After the news, IBM stock price ended 5.9% higher.
Euronext will buy Borsa Italiana from the London Stock Exchange Group in a deal worth $5.09 billion. The acquisition is currently undergoing clearance from the European Commission.
Sources: investing.com, marketwatch.com, reuters.com, finance.yahoo.com
Users/readers should not rely solely on the information presented herewith and should do their own research/analysis by also reading the actual underlying research. The content herewith is generic and does not take into consideration individual personal circumstances, investment experience or current financial situation.
Therefore, Key Way Investments Ltd shall not accept any responsibility for any losses of traders due to the use and the content of the information presented herein. Past performance is not a reliable indicator of future results.