Meanwhile, investors are longing for a recovery plan. Republican Senate leader McConnell said there is not enough time to vote on the issue before the presidential election, but many Congressman believe that this Is still achievable.
In Europe, Michel Barnier, the EU's chief negotiator in charge of an agreement with the UK on Brexit will be in London today. The aim is to continue discussions with his British counterparts. On the agenda are fishing areas as well as competition rules. Discussions are expected to last until Sunday.
At the same time London signed its first trade agreement with a major world economy, Japan, which will be implemented at the end of the year. The United Kingdom should see its accession to the trans-Pacific partnership agreement facilitated.
European markets erased their session losses yesterday to close in balance, while the situation was contrasted on Wall Street. A form of wait-and-see attitude dominates quite logically as important deadlines approach, while Europe is gradually reconfirming itself. Meanwhile, corporate earnings are raining, and so far, it looks like they are better than expected.
There will probably be enough reports by tonight to draw up an initial assessment: will the fall season of quarterly reports be reassuring? The reference report is that of FactSet. Every beginning of the week, the U.S. firm gives an overview of the earnings season to determine the overall quality of the S&P500 companies' results: are they higher or lower than the previous year, but above all, are they lower or higher than analysts expected?
As of tonight, FactSet will be able to give a fairly reliable trend, since more than 120 of the 500 companies in the US Broad Index will have lifted the veil on their performance. However, there will be a shortage of large customers: Microsoft, Apple, Amazon.com, Alphabet and Facebook. In recent years, they alone have been able to set the trend. Will technology retain its incredible pulling power? Looking at the contamination curves and the return of physical distance, the champions of remote activities still have a bright future ahead of them.
October PMI indicators are on the agenda today around the world and will be the main macroeconomic focus of the day.