TODAY ON WALL STREET: Europe considering lockdowns again

10/22/2020 | 09:30am

US stocks are mixed as coronavirus features prominently in economic forecasts and stock markets, in the middle of the season for corporate earnings releases. Europe is shaking again, but the United States has no reason to be complacent. The US stimulus plan, an avalanche of corporate publications, the rise of the coronavirus in Europe and the latest Biden/Trump debate are the major events of the day.

We all have the unfortunate impression that we have gone back several months in the fight against the coronavirus, since the situation is worsening in western countries. New lockdowns that seemed unthinkable after the first ones are now being considered in Europe.

In the United States, markets are holding up better than in Europe. Investors are still focused on developments surrounding the recovery plan. New data reveals that the number of Americans seeking unemployment benefits fell last week to 787,000, indicating that job losses may have eased slightly.

Today, there are also several dozens of corporate results to look at. And a Trump / Biden televised debate, the last one before the vote on November 3. But also, we have the business confidence index in France, weekly U.S. unemployment registrations and the U.S. old-buildings figures.

Romain Fournier
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