Japanese economic recovery, Britain’s contraction, Janet Yellen selection as Treasury chair, U.S. jobless claims, HSBC delisting from Euronext Paris-What were Wednesday’s top market news?
Global Insights
Japanese weekly consumption recovered to the level of the past three years since September despite weaknesses in the employment situation, corporate earnings, and business investments.
U.S. jobless claims for the week ending November 21 rose by 30,000 to reach 778,000, more than expected 730,000. Continuing claims topped the expected 6.0 million to a five-week high of 6.071 million.
On fiscal policy, Britain announced its borrowing for pandemic recovery will hit historic highs of £394 billion or 19% of GDP in 2020, while the economy will contract by 11.3%.
Reports emerged that Janet Yellen had been nominated by president-elect Joe Biden as Treasury secretary. Yellen was the first lady to lead the FED between 2014 and 2018 and her chairmanship was marked by the strong dollar and rising interest rate.
S&P 500 3,625.00 -0.24%
NASDAQ 12,131.00 +0.46%
DJIA 29,757.00 -0.62%
FTSE 6,391.09 -0.64%
DAX 13,297.00 +0.08%
NIKKEI 26,355.00 -0.43%
HSI 26,669.75 +0.31%
SHANGHAI 3,362.33 -1.19%
VIX 23.25 -1.48%
WTI Oil 46.21 +2.89%
Nat Gas 2.9540 +1.86%
GOLD 1806.30 +0.10%
US Dollar Index 91.987 -0.26%
U.S. 10 Treasury Yield +0.88%
Corporate Stories
HSBC Holdings plc (HSBC) announced it would delist its shares from Euronext Paris on December 22, 2020, following approval by the Euronext Paris S.A.
Market Sentiment
The market was mixed on Wednesday. Oil prices continued the previous recovery on potential vaccine rollouts as the VIX dropped. Gold recovered previous losses on dollar weaknesses.
