Sam is a trader and one of our lead stock analysts at AskTraders. After starting his career predominantly in the forex markets, Sam now focuses on gold and stocks with a preference for macroeconomic analysis.
S&P 500 -0.08%
It’s an overall positive day, although, the energy sector is taking a beating…
CIT Group shares have jumped over 27% to $25.14 today after it was announced that it will join with First Citizens BancShares Inc in an all-stock merger.
European indices close out the week on a positive note…
FTSE 100 +1.50%
STOXX 50 +1.67%
IBEX 35 +0.49%
CAC 40 +2.04%
Earlier it was announced that Hertz secured Debtor-In-Possession financing of $1.65 billion, sending its stock price roaring higher…
Here is the full story: HERTZ (HTZ) STOCK RALLIES AFTER SECURING COMMITMENTS OF $1.65 BILLION
Nikola Motors stock has fallen over 12% as low as $20.25 after the CEO said the startup can go it alone and could revert to ‘base plan’ without General Motors according to Bloomberg.
S&P 500 +0.42%
US equities climb after retail sales jump.
Navistar stock has surged 20% to $42.81 premarket after reports that a deal is close for the company to acquire the shares it does not own of Traton for $44.50 a share according to reports. Reports stated that Carl Icahn and Mark Rachesky are supporting the deal which has been agreed verbally.
The reports also stated that the deal could still fall apart.
UK PM JOHNSON TO SAY: HE HAS CONCLUDED WE SHOULD GET READY FOR AUSTRALIA STYLE DEAL – SOURCES
The pound has plummeted, the GBPUSD is now trading at 1.2879
Some news via @DeltaOne on Twitter:
Pfizer could have data showing its vaccine is effective later this month
Pfizer could apply for emergency use of COVID-19 vaccine in late November
“Shares of Serco Group plc (LON: SRP) today surged 17.8% after the company upped its full-year revenue guidance to £3.9 billion with a profit target of £160 – £165 million.”
Braveheart Investment +38.89% – Company provided an update concerning progress with proof of concept for a COVID-19 test that Paraytec Limited is conducting with the University of Sheffield
Alien Metals +35.04%
Orosur Mining +27.33%
Savannah Resources +13.52%
Hawking PLC -23.53%
Faron Pharmaceuticals -19.55% –
JD Wetherspoon -12.45% – Reported £95 million loss in preliminary results and will cut jobs
Iofina PLC -10.63% – Company provided Q3 update
European indices have started off the session well…
FTSE 100 +1.27%
STOXX 50 +0.80%
IBEX 35 +0.13%
CAC 40 +1.43%
-APAC equities traded in the red with the Nikkei closing 0.41% lower and the ASX closing down 0.54%
-The UK’s chief Brexit negotiator Frost said he was surprised the EU is no longer committed to working intensively to reach a Brexit free trade agreement
-Reports have stated that mills in China have been told to stop buying Australian cotton
-Twitter suffered a global outage yesterday evening with the company saying that it was due to technical problems
-Alphabet (Google) has said it will make its Chat service available for free to all users in the first half of 2021. Chat will replace Google’s current Hangout service and looks to be Google’s rival to Slack, Zoom and Microsoft Teams
-A WHO study says that remdesivir, Gilead Sciences COVID-19 drug, had little or no effect on patients length of hospital stay or chances of survival
-In FX markets the US dollar is continuing to strengthen
-On today’s data calendar we have EU inflation and balance of trade data, US retail sales and a speech from the Fed’s Williams
-Companies reporting earnings today include BNY Mellon, Rio Tinto, Citizens Financial Group and State Street
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