Live Updates: COVID-19 Cases
  • World 30,974,126
    World
    Confirmed: 30,974,126
    Active: 7,443,722
    Recovered: 22,569,573
    Death: 960,831
  • USA 6,966,766
    USA
    Confirmed: 6,966,766
    Active: 2,545,018
    Recovered: 4,217,926
    Death: 203,822
  • India 5,398,230
    India
    Confirmed: 5,398,230
    Active: 1,011,732
    Recovered: 4,299,724
    Death: 86,774
  • Brazil 4,528,347
    Brazil
    Confirmed: 4,528,347
    Active: 571,687
    Recovered: 3,820,095
    Death: 136,565
  • Russia 1,097,251
    Russia
    Confirmed: 1,097,251
    Active: 171,450
    Recovered: 906,462
    Death: 19,339
  • Peru 762,865
    Peru
    Confirmed: 762,865
    Active: 123,659
    Recovered: 607,837
    Death: 31,369
  • Mexico 688,954
    Mexico
    Confirmed: 688,954
    Active: 123,959
    Recovered: 492,192
    Death: 72,803
  • South Africa 659,656
    South Africa
    Confirmed: 659,656
    Active: 54,282
    Recovered: 589,434
    Death: 15,940
  • Spain 659,334
    Spain
    Confirmed: 659,334
    Active: 628,839
    Recovered: ?
    Death: 30,495
  • Chile 444,674
    Chile
    Confirmed: 444,674
    Active: 14,319
    Recovered: 418,101
    Death: 12,254
  • France 442,194
    France
    Confirmed: 442,194
    Active: 319,346
    Recovered: 91,574
    Death: 31,274
  • Iran 419,043
    Iran
    Confirmed: 419,043
    Active: 37,293
    Recovered: 357,632
    Death: 24,118
  • UK 390,358
    UK
    Confirmed: 390,358
    Active: 348,599
    Recovered: ?
    Death: 41,759
  • Bangladesh 347,372
    Bangladesh
    Confirmed: 347,372
    Active: 88,073
    Recovered: 254,386
    Death: 4,913
  • Saudi Arabia 329,271
    Saudi Arabia
    Confirmed: 329,271
    Active: 15,383
    Recovered: 309,430
    Death: 4,458
  • Pakistan 305,031
    Pakistan
    Confirmed: 305,031
    Active: 6,572
    Recovered: 292,044
    Death: 6,415
  • Turkey 301,348
    Turkey
    Confirmed: 301,348
    Active: 27,786
    Recovered: 266,117
    Death: 7,445
  • Italy 296,569
    Italy
    Confirmed: 296,569
    Active: 43,161
    Recovered: 217,716
    Death: 35,692
  • Germany 272,308
    Germany
    Confirmed: 272,308
    Active: 19,342
    Recovered: 243,500
    Death: 9,466
  • Canada 142,774
    Canada
    Confirmed: 142,774
    Active: 9,376
    Recovered: 124,187
    Death: 9,211
  • Netherlands 91,934
    Netherlands
    Confirmed: 91,934
    Active: 85,659
    Recovered: ?
    Death: 6,275
  • China 85,269
    China
    Confirmed: 85,269
    Active: 171
    Recovered: 80,464
    Death: 4,634
  • Australia 26,885
    Australia
    Confirmed: 26,885
    Active: 2,079
    Recovered: 23,962
    Death: 844
  • S. Korea 22,893
    S. Korea
    Confirmed: 22,893
    Active: 2,545
    Recovered: 19,970
    Death: 378
  • New Zealand 1,811
    New Zealand
    Confirmed: 1,811
    Active: 67
    Recovered: 1,719
    Death: 25

Stocks up on signs of industrial recovery, eyes on US talks

Author at TechGenyz Investing
Stock Surges
A Photograph Representing Stocks. Credit: @jsnbrsc/Unsplash

Global shares edged up on Monday as investors weighed risks from rising coronavirus cases against evidence of a recovery in industrial activity in China and Europe.

U.S. Secretary of State Mike Pompeo’s weekend comments that President Donald Trump plans to take action on what he sees as a broad array of national security risks presented by software connected to the Chinese Communist Party caused market jitters in Asia.

Pompeo’s remarks followed reports that Microsoft is in advanced talks to buy the U.S. operations of TikTok, which is owned by the Chinese company ByteDance and is seen as a source of national security and censorship concerns by the Trump administration.

Market sentiment improved in European trading after so-called PMI surveys of industry showed activity in the sector picked up markedly in July as lockdowns continued to ease.

France’s CAC 40 added 1.1% to 4,836, while Germany’s DAX gained 2.1% to 12,574. Britain’s FTSE 100 gained 0.9% to 5,948. U.S. shares were set to drift higher with Dow futures rising 0.4% and S&P 500 futures up 0.5%.

In Asian trading, Japan’s benchmark Nikkei 225 gained 2.2% to finish at 22,195.38. Australia’s S&P/ASX 200 was flat at 5,926.10. South Korea’s Kospi edged 0.% higher to 2,251.04. Hong Kong’s Hang Seng dropped 0.6% to 24,458.13, while the Shanghai Composite index jumped 1.8% to 3,367.97.

Investors were also watching the Caixin manufacturing Purchasing Manager’s Index, a private survey which showed China’s manufacturing activity grew in July, rising to a higher than expected level of 52.8 on a 0-100 scale where 50 marks the break between expansion and contraction.

A strong rebound in Western economic activity should better the investor mood this week, even though the short-term direction will likely remain blurred by the persistent COVID threat and global trade tensions,” Ipek Ozkardeskaya, a senior analyst at Swissquote Bank, said in a commentary.

Worries are high that waves of coronavirus infections around the world may halt a nascent recovery.

The premier of Australia’s Victoria state, Daniel Andrews, said a state of disaster had been imposed, among sweeping new coronavirus-related restrictions to be imposed across Melbourne and the region from Sunday night.

That included an 8 p.m. to 5 a.m. curfew beginning Sunday night. On Monday, all non-essential workers were ordered to stay home for six weeks beginning late Wednesday. Industries that will have to close on-site operations for six weeks include most retailers and manufacturing.

Investors will meanwhile look to Washington, where slow, grinding negotiations on a huge COVID-19 relief bill are set to resume on Monday. The path forward promises to be challenging. Both the Trump administration negotiating team and top Capitol Hill Democrats reported progress over the weekend even as they highlighted their differences.

In energy markets, benchmark U.S. crude oil lost 18 cents to 40.09 a barrel in electronic trading on the New York Mercantile Exchange. Brent crude fell 16 cents to 43.36 a barrel.

The dollar inched up to 106.09 Japanese yen from 105.90 yen on Friday. The euro was a little lower at 1.1731, down from 1.1779.

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