The second wave of COVID-19 continues to gain traction.
Germany and France have announced a nationwide quarantine. This measure was not as much a surprise as the investment measure, as the rate of increase in the incidence of COVID-19 in the EU began to break records. Nevertheless, the new lockdown is capable of causing severe damage to the union’s economy.
The number of applications for unemployment benefits in the United States fell over the week, and preliminary data on the country’s GDP growth in the third quarter were more positive than experts predicted. Nevertheless, next week the presidential elections will take place and they will have a decisive influence on the dynamics of the financial market.
Polls show that the Reserve Bank of Australia may cut interest rates from 0.25% to 0.10% at the next meeting of the regulator, which will take place on Tuesday, November 3. This move will have an impact on the position of the Australian dollar.
The Speaker of the US House of Representatives Nancy Pelosi and the Treasury Secretary for the working week were unable to find a compromise in agreeing on a package of new economic incentives. Against this background, stock indices closed the week in a deep minus.
At the end of last week it became known that OPEC + had not yet discussed the possibility of extending the agreement on limiting oil production for 2021. But experts believe that exporters should resume negotiations, since the oil market is in a dire condition, as shown by the financial statements of the world’s largest energy companies.
A fundamental view
|The aviation corporation published its quarterly financial statements last week. The third quarter was the fourth consecutive loss-making period, despite Boeing’s attempts to cut costs. Also, negative news came from China, since the Empire may impose sanctions against Boeing due to the supply of weapons to Taiwan. In conclusion, we add that the new wave of COVID-19, obviously, postpones the start of a full-fledged aviation services.|
||Twitter last week did not do well. The company’s shares fell 15% after the publication of the quarterly financial report, which reported a decrease in net income by $8 million.|
|Apple’s quarterly report disappoints. IPhone sales revenue dropped by 21%. Apple showed a particularly negative trend in China, where revenue fell by 29% at once.|