The US presidential election stirred up the markets - Weekly Review, November 2 – 6

Por: Miguel A. Rodriguez

15:36, 09 November 2020

The earnings season mattered less, as the most important event of the year was unfolding

Monday: In Europe, the lockdowns have been reenacted, causing the benchmarks to close lower. France40 lost 0.2%, while UK100 and Germany30 each fell 0.1%.

Exxon stock price fell 2.12% after the company posted narrower-than-expected Q3 figures. The revenue came below the $49.47 million consensus at $46.19 million. The losses came in at $680 million.

JP Morgan is the owner of a 71% stake in Shanghai Waigaoqiao FTZ. The bank is the first to have the largest ownership in a securities joint venture in China. After the news, its stock price went up 1.18%.

Tuesday: On Election Day, the American markets were on a roll with USA30 gaining 2.06% and USA500 jumping 1.73%.

Ryanair's stock price went up more than 2% after it posted the second fiscal quarter figures. The airline had a loss of €197 million, while the operating costs decreased by 67% to €1.35 billion.

Despite the disruption caused by the pandemic, Estee Lauder reported revenue of $3.56 billion for Q1 2021, topping the $3.45 billion expected. Following the report, the company's stock price gained 4.7%.

Ant Group – the Chinese company, which was a few steps away from completing the largest IPO of the year, announced that the listing is postponed due to regulatory issues.

Wednesday: Across the ocean, Australia200 gained 0.22% after the Reserve Bank announced that it would slash the interest rate to 0.10%.

HongKong45 rose 0.40%.

Hugo Boss posted Q3 2020 earnings that topped estimates on one hand, but on the other, it fell short on revenue. The EPS came in at €0.04, while the revenue was €533 million. Following the report, its stock price went up 2.8%.

PayPal traded 5.7% lower after it posted promising Q3 figures. It had revenues of $5.46 billion in the past quarter and an EPS of $0.86. The results topped both last year's figures and the consensus.

Thursday: Japan225 reached a nine-month high after it went up 1.7%.

After the Bank of England announced that more fiscal stimulus would be deployed to support the economy, GBP/USD traded 0.3% lower at 1.2941.

Qualcomm gained more than 11% after it posted quarterly results that came in higher-than-expected. It reported an EPS of $1.45 on revenue of $6.5 billion.

The US unemployment claims came in at 751,000 above the 740,000 consensus. Last week was the third straight week when the numbers came below 800,000.

Friday: The largest American automaker – General Motors – reported higher-than-expected Q3 2020 figures. It had earnings of $4.1 billion, while the revenue was par with the consensus - $35.5 billion. Following the news, GM's stock price gained 7%.

Alibaba posted an EPS of $1.54 on revenues of $22.8 billion. During the second fiscal quarter, its cloud computing revenue figures came in at $2.24 billion, 60% higher than the one reported during the same time last year. After the report, its stock price lost 3%.

In October, in the US have been created 638,000 jobs according to the data reported by the Bureau of Labor Statistics. At the same time, the unemployment rate dropped to 6.9%, lower than the 7.7% expected.

Sources: investing.com, finance.yahoo.com, cnbc.com, forexfactory.com

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Esta información/estudio preparada por Miguel A. Rodriguez  no tiene en cuenta los objetivos específicos de inversión, la situación financiera o las necesidades particulares de una persona. El analista de estudios es, principalmente, responsable del contenido de este informe de estudio, en parte o en su totalidad, certifica que los puntos de vista sobre las compañías y sus valores expresados en este informe reflejan con exactitud sus puntos de vista personales, y como consecuencia, toda persona que actúe basándose en ellos lo hace bajo su propio riesgo.El estudio proporcionado no constituye los puntos de vista de KW Investments Ltd, ni es una invitación a invertir con KW Investments Ltd El analista de estudios certifica, además, que ninguna parte de su remuneración ha sido, es o será directa o indirectamente relacionada con recomendaciones o puntos de vista específicos expresados en este informe.El analista de estudios no está contratado por KW Investments Ltd Le animamos a buscar asesoramiento con un consejero financiero independiente con respecto a la idoneidad de la inversión, en virtud de otra participación separada, cuando considere oportuno que es conforme con sus objetivos específicos de inversión, su situación financiera o, sus necesidades financieras particulares antes de comprometerse a invertir..Las leyes de la República de Seychelles rigen cualquier reclamación relacionada o que surja por el contenido de la información/análisis proporcionado.