Russian media companies are complaining that Youtube and Facebook block them. So sad. Now, what about the stock price?
American equities jump
On Monday, American equities managed to rally, backed by the consumer discretionary sector and expectations for a fresh round of tax trim overshadowed worries of an escalation in the China-US trade conflict.
By the way, Republicans in the American House of Representatives are on the verge of disclosing another round of tax reductions this week. The given move is expected to draw a steep contrast between Republicans and Democrats ahead of the highly anticipated November 6 congressional elections.
Known as "Tax Reform 2.0", the given package is believed to augment US leader’s 2017 tax overhaul that added up to $1.5 trillion to the federal deficit via permanent tax trims for American businesses.
All of the 11 primary S&P sectors managed to rally, backing the consumer discretionary sector that jumped by 0.51% underpinned by profits in the equities of Nike. Additionally, the energy stocks SPNY came up with a 0.83% ascend due to the fact crude prices rallied after American drilling stalled and market participants foresaw lower supply once fresh American sanctions against Iran's oil exports come true from November.
As for the trade-sensitive industrial sector SPLRCI, it jumped by 0.74%.
ET the Dow Jones Industrial Average rallied by 0.32% hitting 25,999.16. Besides this, the S&P 500 jumped by 0.42% reaching 2,883.83, while the Nasdaq Composite added 0.19% ending up with 7,917.90.
On Friday, US leader told that he was all geared up towards slapping extra taxes on literally all Chinese products, threatening tariffs on $267 billion of products over and above planned levies on $200 billion of China’s products. In return, China told that it’s going to respond if the US government takes any new hawkish steps on trade.
Apple went down by 1.4%. On Friday, the stock had gone down right after the company told that a wide array of products would be impacted by the proposed levies, although it didn’t have the iPhone mentioned.
Have you seen the Tesla stock price? But it has already dropped from that high... will it move up again?
Pfizer Inc. announced that its Covid-19 vaccine prevented more than 90% of infections in a large-scale study.
Australian Private Capital Expenditure will be out on Thursday at 2:30 MT time!
Oil jumped to March high, stocks are heading to record highs, while the US dollar is on the back foot.
News geeks get ready for the chain of US reports, which starts at 15:30 MT time on November 25!