After shrugging on some of last week’s losses, Global Equity decided it was time to bullish on Monday. Given the broad macroeconomic and political outlook, you’ll think they’re not going to be much more positive, but that’s probably it – they’re priced too hard with potential flaws before a transaction. Or maybe things were set to get messy later in the week and they just got the chance to loosen up.
The Dow Jones, who opened excitedly, now has risen by more than 1 percent, sitting at around 26,780, worn down some losses posted by Big Tech, where the Nasdaq fell about 0.60%.
Anyway, tomorrow is set to make claims of victory, mail-in voting and delays through the most tense US presidential election in recent history to become events that could be cluttered, contested and extended outcomes.
This uncertainty can lead to days, if not weeks of volatility. That would make us wonder. Why did people buy shares on Monday? IG Senior Market Analyst Joshua Mahony commented on his sentiment, “We are pleased to announce that we are pleased to announce that we are currently offering a message from the company.
Similarly, in Europe, stocks have skyrocketed, ignoring the second wave of COVID and the fierce warning lights of new lockdown restrictions.
Although attacked forward, at first glance it appears to be roaming the closure restrictions, French and German stocks flourished, with CAC and DAX rising by 2.11% and 2.01% to 4,691 and 11,788 points, respectively.
Following behind, the FTSE rose 1.39% to 5,654, spurred by prominent gatherings from Rolls-Royce, Fresniro and, most importantly, Ocado (LON:OCDO). The latter announced two robotics acquisitions, with a 50% increase in year-round profit guidance and more than $300 million.
Meanwhile, the leading disability stocks during Monday’s trading are FTSE travel stocks, likely to continue to cut points as lockdown begins (and likely expands). Mahony adds Travel Equities:
“As likely, we’re seeing travel-related stocks under pressure in response to the second lockdown, which is due to take effect on Thursday night.”
“The constant rise in the UK’s Covid case has made national policies very likely, with many mainland and European countries leading the way in recent weeks.”
“But the fear from a UK perspective is how long this policy will be seen to take hold. Michael Gove has already highlighted the possibility of an expanded lockdown that lasts more than the intended four weeks.”
“As many suffer from closure fatigue, the possibility of a hardworking approach in the UK could extend corporate closures as they try to control the virus in time for Christmas.”
“As the government says it’s against travel, the decline seen in both domestic bus and international air travel reflects the fact that most trips will have to be cancelled until these restrictions are lifted.”
