The news that moves the stock markets and ADRs
Before the much-anticipated payroll data, the
economists expect another week of disappointing statements. The median estimate from Bloomberg surveyed is 1.4 million new claims that have been filed, with ongoing claims dropping slightly , the data will be released at 8:30 a.m. ET.
Employment report may show a 1.5 million increase in nonfarm payrolls in July, but forecasts vary from a decrease of 600,000 to a gain of 3.2 million.
Deadline for Talks. Time is quickly running out until the legislators' self-imposed deadline to reach a new stimulus agreement before the end of the week, and both parties are apparently no closer to reaching an agreement.
Treasury Secretary Steven Mnuchin said it would be difficult to achieve a plan without "an agreement on the main issues" after meeting with top Democrats yesterday. White House Chief of Staff Mark Meadows said President Donald Trump was prepared to use executive authority to extend some measures, such as supplemental unemployment insurance.
Goldman Sachs Group Inc. has warned that a successful coronavirus vaccine could disrupt the markets, leading to a sell-off in bonds and a turnover in tech stocks.
A vaccine could be approved in late November this year, analysts wrote, meaning it could lead to disruptive rotations just as investors are taking in the results of the
Germany recorded the highest number of new cases in more than three months, cases in the Philippines increased and California threatened to cut power to households that host them at home.
Twitter Inc. and Facebook Inc. blocked a video shared by accounts linked to President Trump for violating his policies on misinformation about the coronavirus.
· Mixed Markets
Global equity investors are reacting to another slew of gains as they await news of a stimulus package from Washington.
· Overnight, the MSCI Asia Pacific index added 0.2%, while Japan's Topix index closed 0.3% lower. In Europe, the Stoxx 600 Index was 0.5% lower at 5:50 a.m. as both Glencore Plc and ITV Plc announced that they were abandoning their dividends.
· S&P 500 futures pointed to a slightly higher open, the 10-year Treasury yield was at 0.531% and gold was close to $ 2,050 an ounce.