Morning wrap (13.11.2020)

• 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