U.S. Stocks Rallied Thursday. What about European Shares?

U.S. stock-index futures surged forward on Thursday. Investors are waiting for an earnings reports from some of the major tech companies and digest the latest economic news.

Initial claims for unemployment benefits tumbled down to 751,000 for the latest week, remaining high but continuing an improving trend. Furthermore, gross domestic product soared by 33.1% in the third quarter, slightly better than the 32% gain analysts had expected.

Soon after the figures’ release, the S&P 500 futures recovered a loss of 0.1% to increase by 0.3%. Nasdaq Composite futures also climbed up by 0.7%, adding an earlier gain of 0.2%.

The futures for the Dow Jones Industrial Average edged up by 57 points, or 0.2%, compared with a drop of 0.4% shortly before. On the other hand, the Stoxx Europe 600 plummeted down by 0.5% after plunging by 3% on Wednesday.

In Tokyo, the Nikkei 225 dropped down by 0.4%, while the Hang Seng declined by 0.5%, and the S&P/ASX 100 tumbled down by 1.6% in Sydney.

France and Germany introduced new one-month restrictions to fight a wave of Covid-19 cases in Europe. Jasper Lawler, the head of research at London Capital Group, stated that the concern from a United States’ standpoint is that there will be a repeat for the sequencing from the first wave, Europe sees surging cases at first and locks down, and soon the U.S. follows. He added that this would prove especially true after a Biden election victory.

According to polls, former Vice President Joe Biden has a 65% chance of winning against President Donald Trump in five days.

Earnings reports about Amazon, Apple and Facebook, are due today

Reports of corporate earnings are due today, with tech giants Amazon, Alphabet, Apple, and Facebook, each reporting after the close of trade. These stocks have held up the U.S. markets. However, they are now facing scrutiny over their tax and competitive practices.

Meanwhile, Nokia shares plummeted down in Helsinki, after the company cut its margin forecast for 2020 and introduced new, cautious guidance for 2021.

On the other hand, Royal Dutch Shell surged forward in London after the oil major’s third-quarter earnings surpassed estimates. Oil declined though, with both West Texas Intermediate crude and Brent crude plummeting down by nearly 4%.

Pinterest rallied by 32% premarket after reporting a 58% rise in revenue compared to last year’s third quarter as the Covid-19 pandemic has forced people to spend more time online.

Ford Motors (F) shares also gained 4.7% after the company posted profits that overcome expectations. It seems the automaker is recovering from pandemic-related lows.