This is a great start to the earnings bumper week.
US stock futures hit a low at the beginning of a week, which will see many big-name report results, including Tesla TSLA,
And United Airlines UAL,
The race for the coronovirus vaccine has once again been focused with testing results for the University of Oxford and AZN of AstraZeneca.
Attempts due to be published later in the day.
But regardless of the update, an effective vaccine available to the public is still closed in some way and cases of coronovirus are rising worldwide, leaving investors to monitor global recovery.
In our Phone of the day, BlackRock said that Europe is “leg up” in other areas, including the US and emerging markets, as global momentum resumes.
European stocks remained neutral on US equities citing “fiscal stimulus and risk of fading election uncertainty” after the Blackrock Investment Institute upgraded the sector in its midyear outlook.
It added that European shares offered “the most attractive regional performance” on a separate global scale. Emerging markets would generally benefit from this increase, but Europe’s strong health structure and policy response in this instance ranked it better.
New cases in Europe, once the epicenter of the virus, have gradually decreased from a peak in April, while infections have increased in Latin America, as shown in the chart below.
“Europe’s health capabilities and control measures have put the region in a good position for domestic recovery. European companies are also highly capable of improving global trade and improving the Chinese economy, ”said Mike Pyle, global chief investment strategist.
“The important thing is that monetary and fiscal support to reduce the shock of the virus is stronger in Europe than in EM countries and Japan – and there is room and appetite for additional stimuli,” Pyle said.
He said that technology-focused Asian countries are showing signs of accelerating trade and could also benefit.
After climbing 2.3% for the third consecutive week last week, the Dow Jones Industrial DJIA,
The average Monday was set to open lower, as the Dow futures YM00,
Were down 0.1%. S&P 500 Futures ES00,
Nasdaq futures NQ00, while were 0.2% lower
Were 0.1% higher. EU leaders were reconciled on Monday, as EU leaders remained deadlocked in negotiations over the size of the block’s coronavirus recovery plan. Euro EURUSD,
The four-month high was reached as investors expected the EU’s 27 countries to come to a settlement. Asian markets were also mostly low overnight.
The University of Oxford and the British drugmaker AstraZeneca are expected to publish test results for their potential coronavirus vaccine on Monday.
GlaxoSmithKline announced that it is taking a stake in pandemic manufacturer CureVac in a drugmaker company’s latest move to enhance pandemic fighting capabilities.
The UK government said it has quickly reached 90 million doses of two potential vaccines being developed by BioNTechTTX in Germany.
And American drug maker Pfizer PFE,
Also by the French group Walneva VLA,
Noble Energy has agreed to purchase NBL,
The energy giant said on Monday that in a $ 5 billion all-stock deal.
US President Donald Trump was confronted with Fox News host Chris Wallace in an explosive interview on Sunday.
Entertainment company Disney DIS,
Facebook has reduced its advertising spend on FB,
The Wall Street Journal reported, as tech giants face boycotts from companies for dealing with hate speech and divisive content.
According to Johns Hopkins University data, global coronovirus deaths exceeded 600,000 on Sunday, while the World Health Organization recorded the most 259,848 new cases on Saturday.
French car manufacturer Reno RNO,
Global sales fell in the first half of the year, but reported a recovery in June. It sold 1.26 million vehicles in the first six months of 2020 as compared to 1.93 million in the previous year.