After fresh talks on Tuesday with Secretary Steven Mnuchin, Pelosi said that she’s “optimistic” about the stimulus aid. The market has been closely watching the development as analysts eagerly await a fresh stimulus to boost economic recovery.
The drop in Dow Jones, as well as the S&P 500 among others, draw its uncertainty from fears of the obvious stalemate in the long-expected coronavirus stimulus package.
The chances for both the U.S. and the European stock futures to dip after recording surge are high as stimulus packages in the two nations are not going as expected.
The Dow Jones Industrial Average had its biggest gains on Thursday after it climbs over 100 points after the trading day. For specifics, the Dow climbed by 122 points to close at $28,425.51, sending other Wall Street indices on a similar soaring spree.
President Trump accused House Speaker Nancy Pelosi of not negotiating in good faith thereby asking his representatives to stop any discussions with stimulus bills until the Presidential Elections.
Asian markets have surged to a 2-week high being fueled by a series of events followed by the Goldman Sachs tip on the country’s potential economic recovery.
The markets reacted positively to the news of Trump’s discharge and on the hopes that the stimulus deal is likely to be approved faster. All major indices on Wall Street gained 1.5-2.5% on Monday.
Some doctors who are not in Trump’s medical team believe that the President’s health conditions might be worse than it is being stated.
Analysts have agreed that the primary concern for investors at the current moment mostly revolves around whether Trump’s illness will affect a presidential race in which he continues to lag behind Democratic challenger Joe Biden.
President Trump and the First Lady tested positive for COVID-19 a few days after the first presidential debate with Democratic presidential candidate, Joe Biden.
The Tokyo Stock Exchange (TSE) noted that the system glitch was due to a failed switch over to backups following a hardware breakdown.
While the broader markets ended the Wednesday trading in positive, uncertainty still hovers around Wall Street as stimulus talks have been pushed further on Thursday. Analysts expect the market to remain volatile until the U.S. Presidential Elections on November 3.
JPMorgan thinks that the benchmark index is well poised for the next surge looking at the monetary support from the Fed. JPMorgan strategist asked investors to look at businesses whose stocks move in economic cycles.
Bitfinex will provide perpetual contracts to traders 24 hours a day seven days a week, unlike equity exchanges that are open for business five days a week.
The unprecedented plunge of the shares of HSBC and Standard Chartered on the Hong Kong Stock Exchange has pushed the exchange to lead losses in the Asian region.