European stocks and US futures pause past record days

On November 16, 2020, there is a sign reminiscent of social distance at the entrance of a grocery store in central Stockholm, Sweden.

amir nabizadeh / Agence France-Presse / Getty Images

European stocks fell on Tuesday as traders suspended after showing signs that the second coronavirus vaccine would work effectively.

Increased 1.2% on Monday after Biotechnology Moderna stated that the vaccine was 94.5% effective, Stoxx Europe 600 SXXP,
The edge is 0.2% lower, the German DAX DAX
French CAC 40 PX1
And UK FTSE 100 UKX,
There was also a slight decrease.

The day after the S & P 500 SPX,
+ 1.16%
Record closing price, futures ES00,
The US index has also weakened.

Read again: Dow recorded the fastest bearish recovery in 30 years

The news of the Modana vaccine was a welcome development, but the current news remains, especially as Dr. Anthony Fauci, a top infectious disease expert, said that no one received it was seriously ill. worry. According to the COVID tracking project, US hospitalization set a new record on Monday, but California and New Jersey were one of the more stringent areas.

After the market closed, Federal Reserve Board Vice-Chair Richard Clarida said that, like Jerome Powell’s remarks last week, more financial and financial support to the economy is likely to be needed. It was. “We believe these comments are in line with our expectations that the Fed will eventually extend the maturity structure of asset purchases, probably at the FOMC in December. [Federal Open Market Committee] “Meeting,” said Luis Alexander, Nomura’s Chief Economist in the United States.

Banco Sabadell SAB,
+ 4.34%
Just hours after a major Spanish bank signed a deal to sell its U.S. business to PNC Financial Services, it rose 3% after confirming that BBVA would buy the deal — extended the 25% surge on Monday. —. BBVA BBVA,
Stock prices fell 5% after a 15% surge on Monday.

Jeffreys analysts said the purchase of Sabadell would give BBVA a broader footprint that would give BBVA a strong market share across SMEs and the Spanish region.

Intermediate Capital Group ICP,
+ 5.42%
Equities rose 7% as UK fund managers reported a 29% increase in pre-tax profits in the first half and said they had accelerated funding schedules.

European stocks and US futures pause past record days

Source link European stocks and US futures pause past record days

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