The Tuesday Market Minute

  • Global stocks mixed as concerns for a pause in Johnson & Johnson’s coronavirus vaccine trial is partly offset by solid China trade data.
  • Johnson & Johnson becomes the second “Operation Warp Speed’ trial to pause following the unexplained illness of one of its participants, raising questions about the efficacy of the andenovirus technique.
  • China posts a 13.2% surge in September imports, narrowing its trade surplus with the United States to $30.75 billion.
  • European stocks slide as lockdowns accelerate around the region and a key reading of investor sentiment from Germany disappoints.
  • Oil prices bump higher following the stronger-than-expected China trade data and output returns in Norway and the U.S. Gulf.
  • U.S. equity futures suggest a mixed open on Wall Street ahead of the unofficial start to the third quarter earnings season with updates expected from Johnson & Johnson, JPMorgan, Citigroup and Delta Airlines.

U.S. equity futures

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The Monday Market Minute

  • Global stocks rally as China markets roar, investors extend stimulus bets heading into the U.S. earnings season.
  • Around 31 companies will report this week, including the country’s biggest banks, with analysts expecting third quarter profits to fall 21% from last year.
  • Apple unveils is new line-up of 5G phones on Tuesday, the same day that Amazon will launch its annual ‘Prime Day’ shopping event.
  • President Trump renews call for stimulus deal, but confusion grips talks as both sides play politics 22 days ahead of the November elections.
  • Europe records 100,000 daily coronavirus cases, the highest tally since the pandemic began, in what is likely to be an omen for a second U.S. wave as domestic weather cools.
  • U.S. equity futures suggest a firmer open on Wall Street, following its best five-day stretch since August, ahead of big bank earnings and key consumer sentiment events in the
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Valleywide virtual biz week

Small business owners from across the Okanagan-Shuswap are invited to participate in three days of workshops and connect with peers from across the region as Community Futures hosts a virtual version of Small Business Week events.

“This is an important business development opportunity that our community looks forward to every year, so we are fortunate we are able to host it virtually,” says Kazia Mullin with Community Futures North Okanagan. “We’re excited to be bringing together some presenters and attendees who might not otherwise have the chance to network and discuss opportunities.”

“Many of this year’s sessions will focus on topics that are timely as businesses navigate operations during COVID-19, and we also have a nice balance of topics that are important building blocks and best practices in general,” says Mullin, who has been working with Community Futures peers from Salmon Arm to Penticton

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(Bloomberg) — Global stocks headed toward their best weekly gain since July and U.S. futures also climbed as European companies boosted guidance and the White House suddenly signaled an openness to large-scale stimulus.

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Shares rose in Europe on a host of companies raising outlooks, from Denmark’s drugmaker Novo Nordisk and jewelry producer Pandora to German online clothing retailer Zalando. Property firm British Land Co. gained on reinstating its dividend. Stocks underperformed in Spain, where the government is weighing a state of emergency for the capital to control the spread of Covid-19.

Italy’s 10-year bond yield fell to a record low amid fading domestic political risks and central-bank support. S&P 500 contracts rose following reports Treasury Secretary Steven Mnuchin told Nancy Pelosi that President Donald Trump wants agreement on a comprehensive aid package. Treasuries gained and the dollar retreated.



chart: MSCI gauge of global equities heads for best week since early July


© Bloomberg
MSCI gauge of global equities heads for best

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The Thursday Market Minute

  • Global stocks extend gains on U.S. stimulus hopes as lawmakers press ahead with talks of targeted support.
  • House Speaker Pelosi and Treasury Secretary Mnuchin remain engaged in negotiations as President Trump pushes for a ‘piecemeal’ deal before next month’s elections.
  • Weekly jobless claims could upend risk sentiment, but Wall Street is looking to extend its best week since August heading into the teeth of the third quarter earnings season.
  • European stocks extend gains, rising to a four-week high, even as coronavirus infections continue to surge and lockdown discussions accelerate as cooler weather sets in.
  • Oil prices edge higher following a surprise drawdown in U.S. gasoline stocks suggests a possible uptick in domestic energy demand.
  • U.S. equity futures suggest a firmer open on Wall Street ahead of weekly jobless claims numbers at 8:30 am Eastern time.

U.S. equity futures extended gains Thursday, pulling Wall Street benchmarks past

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The Wednesday Market Minute

  • Global stocks mixed as markets react to contradictory statements on stimulus from President Donald Trump.
  • Hours after ordering White House officials to stop negotiating with Democrats, Trump suggested he would sign a ‘stand alone’ bill to support airlines and small businesses.
  • White House economic adviser Larry Kudlow tells CNBC a piecemeal agreement on stimulus is a “low probability event”.
  • The U.S. dollar edges higher amid the stimulus uncertainty, made more complicated by the President’s coronavirus diagnosis, while benchmark 10-year Treasury yields hold at 0.764%.
  • Oil prices eases as the Energy Department trims near-term demand forecasts and Hurricane Delta slows to a category 3 storm as it heads towards the crude production areas of the Louisiana coast.
  • U.S. equity futures suggest a firmer open on Wall Street, with a 240 point gain priced for the Dow Jones Industrial Average.

U.S. equity futures powered ahead Wednesday, while the

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U.S. stock futures were little changed Tuesday, ahead of Federal Reserve Chairman Jerome Powell’s scheduled talk about the economic outlook and data on the trade deficit.

Futures tied to the S&P 500 wavered between small gains and losses. Contracts tied to the Nasdaq-100 ticked down 0.2%. Both indexes surged Monday, but remain off their highs for the year.

Data due out at 8.30 a.m. ET is expected to show that the U.S. trade deficit widened in August as Americans’ appetite for foreign goods outpaced demand from overseas.

Investors will also parse Mr. Powell’s language for any fresh cues on the state of the economy when he addresses the National Association for Business Economics annual meeting at 10:40 a.m. ET. Mr. Powell in recent weeks has said swift government intervention helped support the economy during the coronavirus pandemic, but more fiscal support is likely to be needed.

Stocks appeared to be

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Shares advanced Tuesday in Asia after hopes for fresh economic stimulus helped Wall Street recover its losses from the initial shock of learning President Donald Trump had tested positive for the coronavirus.

Trump left the hospital after spending less than three days there, returning to the White House late Monday despite uncertainty over his recovery and risks that he is still infectious.

Shares rose in Tokyo, Hong Kong and Seoul. Markets in mainland China are closed for a weeklong holiday.DOW JUMPS 465 POINTS AS TRUMP RETURNS TO WHITE HOUSE

Overnight, the S&P 500 climbed 1.8%. Treasury yields and oil all rose after Trump and House Speaker Nancy Pelosi both noted the importance over the weekend of additional support for the economy.

Australia’s S&P/ASX 200 rose 0.4% to 5,962.10 after the central bank kept its policies basically

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(Bloomberg) — Asian stocks climbed with U.S. futures as traders reacted to the possibility President Donald Trump may be able to leave hospital as soon as Monday. The yen retreated and Treasuries dipped.

Shares jumped in Japan, Hong Kong and Australia, where volumes were lower than normal because of a holiday. South Korean stocks saw a more modest rise. S&P 500 futures climbed after U.S. equities finished lower on Friday in a volatile day for global financial markets.

Crude oil pared some of Friday’s slump. The pound fluctuated following a weekend call between U.K. Prime Minister Boris Johnson and European Commission President Ursula von der Leyen on Brexit. The dollar slipped.



a screen shot of a chain link fence: October VIX futures jumped after Donald Trump tested positive for Covid-19


© Bloomberg
October VIX futures jumped after Donald Trump tested positive for Covid-19

A member of Trump’s medical team said Sunday that the president could be released from hospital as soon as Monday after treatment for Covid-19. But Trump’s

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But the news immediately spooked investors. Futures tied to the Dow Jones industrial average “indicated an opening loss of more than 400 points, recovering a bit after earlier trading down more than 500 points. S&P 500 futures and Nasdaq 100 futures were also in negative territory,” CNBC’s Eustance Huang and Pippa Stevens report.

The development throws a major unknown into the election at a time when uncertainty over voting and its outcome already has been weighing on investor sentiment. “Market sentiment was already delicately balanced ahead of the November election, and today’s news only adds to the uncertainty,” Karen Ward, chief market strategist for EMEA at J.P. Morgan Asset Management, told Bloomberg’s Yakob Peterseil. But, she said, “with such a wide range of outcomes and implications stemming from the President’s diagnosis, it’s too soon to ascertain what the final market direction will be.”

The market’s record suggests investors quickly

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