Morning wrap (13.11.2020)

9:33 am 13 November 2020

  • US indices finished yesterday's trading lower. Dow Jones dropped 1.08%, S&P 500 finished 1% lower and Nasdaq declined 0.65%. Russell 2000 dropped 1.83%

  • Stocks are trading lower during the Asian session. Nikkei declined 0.6%, S&P/ASX 200 drops 0.2% and Hang Seng slides 0.5%. On the other hand, Kospi trades 0.7% higher

  • DAX futures point to a lower opening of the European session

  • A record number of coronavirus infections was reported yesterday - 643 thousand

  • United States reported record 161 thousand new coronavirus cases yesterday

  • Trump signed an executive order banning investments in firms controlled by Chinese military

  • Air passenger volumes in China were 12% YoY lower in October

  • Fed Chair Powell said that the US recovery has been faster than expected

  • Walt Disney reported 23% YoY drop in Q3 revenue to $13.7 billion and a net loss of $710 million. Company said that it has lost $7 billion due to coronavirus pandemic

  • Precious metals gain while oil pulls back

  • GBP and JPY are top moving majors while CAD and NZD are top laggards

A record 643 thousand new coronavirus cases were reported yesterday. Source: worldometers, XTB

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