What You Need to Know When Starting the Upcoming Week
We have compiled what you need to know when starting the upcoming week. Here are the highlights of the new week ...
- Vaccine vs Virus
Stock markets are mixed with good news from the vaccine front, while coronavirus cases are skyrocketing.
Hopeful news are coming from the coronavirus vaccine. The effectiveness rates of the two vaccines produced in partnership with Moderna and
Pfizer-BioNTech also turned out to be high. On the positive news from the vaccine, the S&P 500 index saw record levels. Both vaccines may be authorized for distribution and vaccination within a few weeks.
On the other hand, the fact that the number of coronavirus cases worldwide exceeds 58 million raises concerns. Especially in the USA, the number of coronavirus cases exceeding 12 million, creates an imbalance in the stock markets.
2.USA Economic Data
The US will announce consumer confidence statistics on Tuesday. An intense economic agenda will be followed, especially on Wednesday. Personal spending and third-quarter GDP figures will be released Wednesday. On the other hand, while the results of the first unemployment applications are expected, the trade balance, durable goods orders, new home sales and consumer sentiment will be shared on Thursday.
In addition, the FED will share the minutes of its last meeting on Wednesday. In other news, regional Fed chiefs Thomas Barkin and Charles Evans will speak on Monday and James Bullard on Tuesday.
- Black Friday
The big sale day, also known as "Legendary Friday", will not be the same this year. In the period when coronavirus measures are tightened and quarantines are implemented in many countries of the world, online sales are expected to explode instead of the physical sales.
Oxford Economics expects holiday sales to rise by only 0.6 percent compared to last year, with the combination of the coronavirus pandemic, lower income and a weak labor market. Macy's (NYSE: M) predicts that it will be a tough time with a possible 20 percent drop in sales.
- Euro Zone
Preliminary data on the Eurozone's business activity for November will be released on Monday. The rapid increase in coronavirus cases and the quarantine of many European countries strengthen the idea that the results will be negative.
It is estimated that these preliminary data will show great losses, although there were slight decreases in many indicators in the past month.
5.Brexit Approaches
There are signals that Britain will continue its commercial relations with the European Union after Brexit. Last 6 weeks for the end of the transition period.
Although hopes for the sterling and UK stock markets have grown in recent times have blossomed, it is only a matter of time before both sides are stuck.
Reuters and
investing.com contribute to this article.
