Global Stocks slipped an inch about -1% to -1.5%. However, The U.S midcap stock index Russel-2000 outperformed. Since the end of September 2020, the Russell 2000 has surged 41%. The earning season has just started. According to the fact set, the Wallstreet analysts estimated the earnings growth for Q4-2020 decline for the S&P-500 about -6.8% compared to its previous year last quarter. Refer (https://insight.factset.com/will-the-sp-500-report-year-over-year-earnings-growth-in-q4).
President-elect Joe Biden announced a $1.9 trillion fiscal-stimulus plan that aims to counter the effects of COVID-19. In addition to more money for COVID-19 testing and vaccine distribution, the proposal calls for $1,400-per-person direct payments to most U.S. households. The questions also remained about how quickly the administration could move on the plan and how much opposition would slow down the process.
The major European benchmark Indexes fell about -1.6% to -2% as the resurgence in coronavirus infections dented optimism surrounding plans for further fiscal stimulus in the U.S. European countries Switzerland, Netherlands, Germany and France continued to toughen and extend lockdowns amid increasing Covid cases and deaths. The U.K. bans entry from South America, where a new variant that appears resistant to vaccines has been detected.
The most APAC benchmark Indexes ended with the mixed movement. The Indexes Nifty-50, Nikkei-225 and Hangseng ended positively about 0.^to 2.5%. Hongkong’s Hang Seng Index outperformed. On the other side, Index CSE-50, ASX-200 and KOSPI-100 closed lower for the week about -0.1% to -2.1%.
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