- European bourses extended losses
- Wall Street little-changed on Tuesday
- Brent crude at highest level since February
European indices finished today's session mostly in red amid caution trading. DAX 30 closed down 0.1% lower, CAC 40 fell 0.2% and FTSE 100 dropped 0.7%. Concerns regarding the pandemic mounted after Spanish Health Ministry reported 61,422 new cases on Monday, the highest weekend figure so far. Hospitalizations also surged, bringing the total number of active COVID-19 patients to 16,792, with the situation in intensive care units becoming critical. Meanwhile France has been struggling with the pace of inoculation amid widespread skepticism, with polls suggesting up to 60% do not wish to be vaccinated. German government is considering extending the current restrictions until late March, as the infection rate has been rising to 165 cases per 100,000 people on Tuesday, more than three times above the government’s goal. Germany started vaccination at the end of December, but an impact will only be seen in a few months as progress has been slow.
US indices erased early gains and are trading slightly lower ahead of the start of corporate America's reporting season. JPMorgan, Citigroup and other big banks will report their quarterly results on Friday. Meanwhile political turmoil weighed on market sentiment. Yesterday House Democrats introduced an article of impeachment against President Trump and give him one last chance to leave office days before his term expires or face an unprecedented second impeachment over his supporters' storming of the U.S. Capitol last week. Meanwhile the President-elect Joe Biden is expected to unveil details about more economic stimulus on Thursday. On the corporate front, General Motors (GM.US) shares rose more than 5% after the company outlined plans for its first BrightDrop electric commercial vans to be delivered to FedEx (FDX.US) by year-end. Tesla (TSLA.US) shares jumped over 6.0% as a regulatory filing showed the company is preparing to launch its business in India later this year by registering a company in the country. Uber (UBER.US) stock surged 7% and reached a new record high after company expanded its electric vehicle and hybrid ride option to over 1,400 new cities in the US.
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Create account Try a demo Download mobile app Download mobile appUS crude futures are trading 1.47% higher at $53.00 per barrel, while Brent contract rose 1.53% above $ 56.00 per barrel for the first time since February. Elsewhere, gold futures fell 0.25% to $ 1,840.00 / oz, while silver is trading 1.78% higher near $ 25.36 / oz. Bitcoin is trading above $ 35,000 level.
General Motors (GM.US) stock managed to break above the upper limit of the ascending channel and reached a fresh all-time high at $ 49.01. Source: xStation5
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