Market Overview

Soaring COVID-19 Cases Dampen European Markets

Soaring COVID-19 Cases Dampen European Markets

Wall Street's modest recovery rally on Thursday was not enough for Europe, as rising COVID-19 cases weigh on markets. Investor sentiment takes a hit as any fresh government restrictions will stall the economic recovery.

London's FTSE index is trading flat. Public sector net borrowing numbers for August came in at £35.2 billion, slightly higher than expectations of £35.05 billion. Bank of England's quarterly bulletin is also due today.

Germany's DAX is trading down 0.62%. The European Union's loans to non-financial corporations grew at 7.1% year-over-year compared to 7% prior. Loans to the private sector grew 3% year-over-year.

France's CAC 40 index is trading down 0.76%. The country's total jobseekers report for September is due today.

Spain's IBEX index is trading up 0.11%. The country's producer price index declined 3.5% year-over-year, improving from a decline of 4.8% prior.

U.S. Dollar Index futures are trading up 0.07% to 94.457 as the Dollar strengthens 0.16% against the Euro to $1.166, while the Sterling gains 0.18% to $1.277.

Related Link: Asian Markets Remain Mixed On Hopes Of Fresh US Stimulus


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