Some investors suspect that in recent days, markets have overreacted a little to anti-Covid vaccine expectations and economic recovery expectations. The U.S. presidential election and the reports by Pfizer and BioNTech regarding their vaccine candidate’s high efficacy have thus somewhat overshadowed the very sharp rise in the number of Covid-19 cases across the Atlantic.
The number of new Covid-19 cases stood at 142,755 on Wednesday, according to data from the New York Times, and at least 1,431 patients died. The number of fresh daily cases has reached 128,081 over the past week, up 69 percent over two weeks.
The Walt Disney Company (DIS) dropped -1.6 percent and Cisco Systems Inc (CSCO) was down -1.7 percent when both have published their quarterly results after closing this Thursday in the business news on Wall Street.
Despite a positive ranking from RBC, which initiated its recommendation to ‘outperform’, the sports equipment and apparel giant, Nike Inc (NKE) dropped -0.8 percent on Thursday while the company expected to be better placed to weather pandemic changes.
The purchase of British bookmaker William Hill is expected to pave the way for casino operator Caesars Entertainment Inc (CZR) (+3%) by private equity firm Apollo Global Management Inc (APO) that lost -0.12% on Thursday.
The Chinese e-commerce player Pinduoduo Inc (PDD) jumped 20.4 percent on Wall Street after the announcement of significantly improved financial results. The group thus generated quarterly sales that surpassed expectations, boosted by the turnaround in the Chinese market.
The Chicago-backed aircraft maker, The Boeing Company (BA) slid -2.9 percent, which has increased its estimate for aircraft demand in China for the next 20 years. A month after lowering its forecast for global demand, the aircraft manufacturer is talking about local growth.
Alphabet Inc (GOOG) slipped -0.25 percent in Thursday trading. A collective of 165 companies and organizations sent a letter to the European Competition Authority demanding that the Google Internet search engine, which was accused of advertising its own services, be more resilient.