The DAX 30 plunged over 2% to touch a 3-month low of 12,259 dragged down by a 20% decline in technology giant SAP, which is set for its worst day in 24 years. The company reported disappointing earnings, with both revenues operating profit falling and cut its 2020 outlook. Meanwhile, the number of new COVID-19 infections across the region continue to worry investors. The number of deaths has crossed 10,000 in Germany and on Sunday the country reported more than 11,000 new cases, following 14,000 tallies on Saturday. – trading economics
European countries stepped up restrictive measures to curb the spread of the coronavirus disease during the weekend, moving closer to those imposed during the first wave of infections as nations struggle to control the second wave peaks. Spain announced a nationwide curfew and Italy introduced the strongest measures since May, while several others leave the door open to new lockdowns like Belgium and Poland. The WHO’s director said some countries in the northern hemisphere are facing a dangerous moment as US coronavirus infections hit a record for the second day and France’s cases rose by more than 50,000 and China tackled another outbreak. On a more positive note, AstraZeneca vaccine candidate produced a robust immune response in elderly people; and J&J said the first batches of its shot could be available in January. At the same time, India’s cases continue in a declining trend. – Trading Economics
Markets pricing in less of a chance of a blue wave and thus less chance of a big stimulus package. A few notes
JPMORGAN ANALYSTS SEE AN “ORDERLY” ELECTION VICTORY FOR DONALD TRUMP AS MOST FAVOURABLE OUTCOME FOR EQUITIES
Via Zero hedge
Winter storm bringing needed precip to the central & southwest Plains, but also stressing livestock… The central and southwest Plains are dealing with a significant winter storm that is bringing significant rain, freezing rain, sleet, snow and very cold temperatures, according to World Weather, who says the system is likely to linger through Thursday. World Weather reports that if the forecast verifies, “Drought will be broken down in a major way.” But the wintry blast is also creating “extremely dangerous” conditions for livestock in the region, reports World Weather. The storm will also halt harvest and fieldwork on summer crops
Dollar higher Yields lower Italian BTP rallying smartly as Country was upgraded on Friday afternoon a bit of surprise.precious metals lower for now.
Trump is on the trail all week with stops in Pennsylvania on Monday.
On Tuesday, Trump heads to Michigan, Wisconsin and Nebraska (home of potentially important split Electoral College votes) … Vice President Mike Pence will also stay on the trail despite aides testing positive for Covid-19 … Biden is on the trail as well including an event in Warm Springs, Georgia on Tuesday Morning money