Coronavirus-Hit Shares Surge as Global Markets Track U.S. Shift
A shift in favor to sectors hit hard by Covid-19 spread from U.S. stocks to global markets, as promising vaccine news prompted investors to reassess prospects for economically sensitive industries.
China Consumer Inflation Hits 11-Year Low as Pork Prices Fall
Chinese consumer inflation eased to its lowest level in 11 years in October as pork prices retreated amid a recovery in supply, official data showed.
Fed's Mester Says Monetary Policy in Good Place, Would Welcome More Fiscal Aid
Federal Reserve Bank of Cleveland President Loretta Mester said Monday she's happy with the current settings of Federal Reserve policy amid the continuing pandemic, adding she would welcome more economic aid from the government, while noting it is possible for the central bank to do more if needed.
Biden Victory Gives Asian Assets a Chance to Shine
The triple-hit combination of diminished political and trade concerns, a weaker dollar and better control over the pandemic than Western economies is lifting the developed markets of East Asia.
Fed Says Coronavirus Remains a Top U.S. Financial Risk
The coronavirus pandemic remains a top risk to the U.S. financial system, the Federal Reserve said in a report released Monday, warning that uncertainty over the course of the virus and its economic and financial consequences remains unusually high.
New U.S. Coronavirus Cases Exceed 100,000 for a Fifth Day
Total confirmed coronavirus cases in the U.S. since the pandemic began surpassed 10 million on Monday, as the spread of the virus accelerated nationwide and after several record-breaking days of new infections over the past week.
Bank of Japan to Introduce Special Deposit Facility to Support Regional Banks
The Bank of Japan said that it would introduce a new deposit facility to support regional banks, whose profits have been hurt by Japan's longtime low-interest-rate policy.
UK Redundancies Hit Record High
The number of workers laid off in the U.K. reached a record quarterly high in the third quarter, highlighting the cost in jobs of the coronavirus pandemic and government measures to contain it.
Joe Biden Focused on Coronavirus to Kick Off Transition
President-elect Joe Biden started the first week of his transition focused on the coronavirus pandemic, as both political parties weigh how to handle potential distribution of a vaccine in light of positive news from Pfizer and partner BioNTech.
Popular Trading Platforms Have Technical Difficulties as Stocks Surge
Charles Schwab and TD Ameritrade were among companies saying customers experienced problems. Several platforms cited extreme trading volumes as investors rushed to buy and sell shares.
(END) Dow Jones Newswires