European Stocks Fluctuated. How did Stoxx Europe 600 Fare?
European stocks fluctuated on Tuesday, along with U.S. equity futures. Investors contemplated a potential setback on progress toward a Covid-19 vaccine ahead of a busy period for corporate earnings. The U.S. dollar and Treasuries surged forward.
The Stoxx Europe 600 Index lowered by 0.1%, and futures on the S&P 500 Index also tumbled down by 0.1%. Meanwhile, the MSCI Asia Pacific Index increased by 0.2%, and the MSCI Emerging Market Index edged up by 0.1%.
On Tuesday, S&P 500 contracts changed slightly after dropping by 0.6% on a report that Johnson & Johnson paused a coronavirus vaccine study due to an unexplained illness in a participant.
The European stock market also declined earlier. Cineworld Group Plc plunged by 11% after Disney declared a strategic reorganization of its entertainment and media businesses to refocus its Disney+ streaming business.
Meanwhile, Oil surged forward after workers in the U.S. Gulf headed back following Hurricane Delta’s landfall. Libya also took a major step toward reopening its biggest field.
The Nasdaq composite gained significantly during the recent sessions
The Nasdaq 100 rallied to the biggest advance since April. Tech leaders, including Twitter Inc., Amazon.com Inc., and Apple Inc., boosted it. Apple is planning for its event, where it will unveil 5G iPhones.
It seems prospects for a quick end to the stimulus stalemate in the United States are fading. Members of the House aren’t expecting any action this week with so many Senate Republicans rejecting the White House proposal for a deal. Meanwhile, the Johnson & Johnson study halt showed that the race for a coronavirus vaccine is rough.
Chris Iggo, the Chief Investment Officer at AXA IM Core Investments, stated that the difficulties at the moment come from the uncertainty around the U.S. election, as well as the uncertainty about the timing and effectiveness of a vaccine.
Furthermore, stocks changed slightly in South Korea and China. Economic data there pointed to further rebound for global trade and robust domestic recovery.
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