The news of the COVID-19 vaccine has sparked euphoria in the market, but statements by central bankers have chilled traders.
The past week began with a joyful event – the pharmaceutical giant Pfizer announced the high efficiency of their vaccine against COVID-19. European countries plan to purchase a huge batch of the drug, but deliveries will begin no earlier than next year.
Hong Kong is restless again. A number of democratically minded members of the city’s legislature were removed by the authorities due to lack of patriotism, which is now a prerequisite for work. The US State Department condemned Beijing’s actions.
Fed Chairman Jerome Powell believes the coming months will be volatile, and news of the development of a COVID-19 vaccine is not enough to stabilize the global economy. In turn, Managing Director Kristalina Georgieva urged to continue adopting economic incentives.
According to preliminary data, the EU’s GDP in the third quarter grew by 12.6%, which turned out to be worse than forecast. The UK showed a similar trend, where GDP grew by 15.5% over the same period.
On Friday, the Chinese authorities congratulated Joe Biden on winning the presidential race. This week, the position of the US Democratic candidate has only strengthened. However, Donald Trump has banned investing in shares of Chinese military-related companies.
A fundamental view
|On November 12, the company released its quarterly financial statements. The EPS was $0.76, which is 6 cents higher than the forecast. In terms of revenue, Cisco is also showing a positive trend. In addition, the amount of revenue is at 2018 levels. The stability of the structure of financial flows makes the company profitable for investment.|
|According to Chinese government data, demand for smartphones fell 27% in the last quarter. The trend could have a negative impact on smartphone manufacturers.|
|The company has published its quarterly financial statements. Disney+ subscriptions rose to a record 73 million users, but the annual loss reached $1.7 billion.|