Mike Murphy, managing partner of Fox Business’ Susan Lee and Roscliffe, discusses selling the market amid fears of a possible second coronavirus lockdown.
US equity futures are trading higher the day after the biggest jump since June.
Key futures indices rose 0.6% as the Wall Street session began on Thursday.
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Dow Industries is set to recover some of its losses in five of the last six sessions, including a 900-point drop on Wednesday.
U.S. Selling in markets caused a widespread decline in Europe, where the French president announced strict measures to slow the spread of the coronavirus and German officials agreed to impose a four-week partial lockdown.
U.S. In, cases are on the rise in almost every state and the number of deaths and hospitalizations due to COVID-19 is on the rise. Even if the most restrictive lockdown doesn’t come back, investors worry that people will limit their spending and activities, hurting the business. With Tuesday’s election day approaching, the U.S. economy could lose momentum as the prospect of more economic support from Washington and Washington dwindles.
Will a record GDP surge boost Trump’s reactions?
Thursday will be a very busy day for economic news. Investors will get a first look at 3Q GDP. The refinancing forecast is for an annual growth of 31.0%, compared to a record annual decline of 31.4% in the second quarter.
The number of claims for unemployment benefits by the Labor Department dropped from 12,000 last week to 775,000.
The National Association of Realtors is out with its index of outstanding home sales for September. Economists are looking for an increase of 4. %% since August Gust.
It will also be a day full of earnings with Apple Plus, Amazon, Alphabet, Facebook and Twitter, which will report July-September numbers after the closing bell.
Better a poor horse than no horse at all
European markets are bouncing to a five-month low. London’s FTSE is up 0.2%, Germany’s DAX is up 0.7% and France’s CAC is up 0.4%.
The Bank of Japan maintained its ultra-loose monetary policy at its policy meeting, which ended on Thursday. But he downplayed his outlook for the economy, saying that when conditions eventually improve, “risks to both economic activity and prices lead to losses mainly due to Covid-1to.”
In Thursday’s trade, the Nikkei 225 in Japan rose 0.4%, Hong Kong’s Hang Seng 0.5% and China’s Shanghai Composite Index rose 0.1% to recover from initial losses.
Uncertainty over the next presidential election is also being pushed into the markets.
On Wednesday, the S&P 500 lost 119.65 points to close at 3,271.03. The Dow lost 943.24 points, or 3.4%, to 26,519.95. The Nasdaq Composite fell 3.7% to 11,004.87. Sales were broad, and shares in the S&P 500 fell 96%.
| Ticker | Security | The last | Change | Change% |
|---|---|---|---|---|
| Me: DJI | Dow Jones average | 26519.95 | -943.24 | -3.43% |
| SP500 | S&P 500 | 3271.03 | -119.65 | -3.53% |
| I: Comp | Nasdaq Composite Index | 11004.868219 | -426.48 | -3.73% |
In the field of energy, U.S. The benchmark crude fell 52 cents to 36 36.86 a barrel in electronic trading on the New York Mercantile Exchange. The economy, already weakened by the virus, fell 5% on Wednesday, worrying that even the economy would consume less energy and increase supply.
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By international standards, Brent crude was down 57 cents at ડ 38 a barrel. It fell 5.4% to .6 39.64 a barrel on Wednesday.
The Associated Press contributes to this report.
