Morning wrap (23.10.2020)

6:39 AM 23 October 2020
  • US indices finished yesterday's trading higher with Nasdaq gaining 0.19%, S&P 500 adding 0.52% and Dow Jones jumping 0.54%. Russell 2000 gained 1.58%

  • Stocks in Asia-Pacific region are trading mixed. Nikkei gains 0.4%, S&P/ASX 200 drops 0.1% and Kospi adds 0.4%. Indices from China trade mixed as well

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

  • Final US presidential debate was much more calm than the previous one. Trump and Biden did not interrupt each other and debate was more focused on policies rather than personal attacks. Market reaction was minor

  • Trump said during debate that coronavirus vaccine will be ready within weeks

  • Senate Majority Leader McConnell said that there is not enough time to vote on stimulus before elections

  • Japan and the United Kingdom has signed a post-Brexit free trade deal

  • Japanese CPI inflation slowed from 0.2% YoY to 0% YoY in September

  • Intel reported Q3 earnings after Wall Street close yesterday. Revenue came in at $18.3 billion (exp. $18.2 billion). EPS at $1.11 was slightly higher than $1.10 expected. However, stock dropped in after-hours trading on the back of lacklustre sales in data-center unit

  • Precious metals advance with silver being the only laggard. Oil trades slightly lower.

  • USD and JPY are top performing major currencies today while GBP and EUR lag the most

Daily coronavirus infections continue to surge - a new record of almost 480 thousand new cases was reported yesterday. Source: worldometers, XTB

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