Morning wrap (10.12.2020)

• US indices dropped yesterday with tech shares taking the biggest hit. S&P 500 closed 0.79% lower, Dow Jones dropped 0.35% and Nasdaq slumped 1.94%. Russell 2000 finished 0.72% lower

• Declines can also be spotted on the Asian exchanges but scale is much smaller. Nikkei declined 0.2%, S&P/ASX 200 dropped 0.67% and Kospi traded flat. Indices from China traded mixed

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

• No Brexit breakthrough was made during a meeting between Boris Johnson and Ursula von der Leyen yesterday. Significant differences remain and politicians agreed that decision should be made by the end of the week at latest

• US House passed a one-week stopgap bill to avoid government shutdown

• United States reported a record coronavirus death toll on Wednesday - 3,243

• Credit card spending in New Zealand increased 0.1% MoM in November after a 7.5% MoM increase in October

• Reports surfaced saying that European Union may impose fines on Big Tech firms of up to 6% of revenue

• Cryptocurrencies continue to decline. Precious metals trade mixed as gold and silver drop while platinum and palladium gain. Oil trades flat

• AUD and NZD are top moving major currencies while JPY and GBP lag the most

The United States reported record 3,243 coronavirus deaths yesterday. Source: worldometers, XTB