Dow Futures spikes virus spike: vaccine hopes to control losses


Monday’s market minute

  • Global stocks are declining as coronavirus infections rise at a record rate over the weekend, with a global total of more than 14.4 million, with more than 600,000 deaths.
  • Infections in the US continue to increase at a faster rate than testing, and hot spots in Florida and California trigger further closure discussions.
  • European leaders extend talks on a 1.85 trillion euro budget and a rescue package after negotiations over the weekend failed to make a breakthrough.
  • Commodity prices fall, with oil trading in the red, as investors gauge slower growth in the near term in the face of a second global wave of coronavirus.
  • However, vaccine hopes keep the losses under control as the market awaits key data from an early-stage trial in human participants conducted by AstraZeneca and the University of Oxford.
  • US equity futures suggest a moderately weaker opening on Wall Street ahead of Haliburton earnings before the bell and IBM after the close of trading.

US equity futures started the week on Red Monday as investors tracked a recorded weekend for global coronavirus infections, led by the United States, amid growing concern from that a resurgence of the disease could nullify hard-earned progress in major economies around the world. the world.

The World Health Organization said global infections hit a record high for two consecutive days over the weekend, with a global total of more than 14.4 million, with more than 600,000 deaths. In the United States, where infections are increasing at a rate three times faster than the increase in national tests, confirmed cases have exceeded 3.7 million, with 140,000 deaths.

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