Morning wrap (12.11.2020)

• US indices finished yesterday's trading mixed. Nasdaq gained 2.01%, S&P 500 added 0.77% but Dow Jones dropped 0.08% and Russell closed 0.33% lower

• Stocks are trading lower during the Asian session. S&P/ASX 200 declined 0.5% while Kospi and Hang Seng slipped 0.4%. Nikkei gained 0.7%

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

• A recount of all votes has been ordered in Georgia. Biden's lead in Pennsylvania has reportedly widened above the recount margin

• OPEC+ is reportedly considering extending current output cuts by 3-6 months

• Global daily coronavirus death toll surpassed 10 thousand for the first time yesterday 

• Second wave of the coronavirus pandemic in the United States is accelerating. Over 140,000 new cases were reported in the country yesterday. Total case count in Texas has surpassed 1 million

• RBNZ assistant governor Hawkesby said that negative rates are still on the table but the Bank thinks less stimulus will be needed than previously expected

• Boeing said it expects China to buy over 8,600 new airplanes over the next 20 years with total spending expected at $1.4 trillion

• Japanese machinery orders declined 4.4% MoM in September (exp. -0.7% MoM)

• Oil and agricultural commodities trade lower. Precious metals trade mixed with gold and palladium gaining while silver and platinum lags

• JPY and CHF are top moving major currencies while CAD, AUD and NZD lag the most. USD gains against EM currencies

Almost 614 thousand new coronavirus cases were reported yesterday. Moreover, a record death toll of over 10 thousand was reported. Source: worldometers, XTB