(Bloomberg) — U.S. equity-index futures dropped alongside most stock markets after an acrimonious American presidential debate highlighted the risk of a contested vote in November. The dollar fluctuated.S&P 500 contracts slumped much as 1.3% in the hours after the chaotic sparring between Donald Trump and Democratic hopeful Joe Biden during which the president suggested vote-by-mail could be rife with fraud. The futures, along with those on the Nasdaq 100, later recovered more than half of their tumbles. Declines in industrial-goods and tech shares outweighed advances in utilities in European markets.“What we’ve seen from the debate is the reinforcement that if Biden wins, Trump is not going to accept that,” said Chris Weston, head of research at Pepperstone Group Ltd. in Melbourne. “People positioned for an ugly contest afterwards have been validated.”Investment firms were also recalibrating positions on the final day of this quarter, with traders saying flows were positive for the dollar. Various tech shares fell in premarket trading alongside Walt Disney Co., which said 28,000 workers will be let go in its slumping U.S. resort business. That marks one of the deepest workforce reductions of the Covid-19 era.Global investors are keeping an eye on news about coronavirus vaccines and on talks in Washington for a new stimulus package that’s set to reach a critical juncture this week. House Speaker Nancy Pelosi and Treasury Secretary Steven Mnuchin spoke Tuesday morning for 50 minutes and are set to speak again Wednesday.Traders are preparing for euro-area inflation data on Friday. Sub-zero headline CPI readings came for France and Germany and put a damper on the euro Wednesday as they ratcheted up the probability of additional easing by the European Central Bank. ECB officials are speaking Wednesday.Earlier in Asia, China Evergrande Group’s stock and local bonds soared after the developer took a major step toward avoiding a cash crunch that had threatened to roil the nation’s $50 trillion financial system and reverberate across global markets.China markets are shut from Thursday for a week of holidays. South Korea is closed Wednesday. Equity gauges in Japan and Australia declined by at least 2%.Here are some key events coming up:A large line up of ECB officials, including President Christine Lagarde, speak Wednesday at the ECB and its Watchers Conference.The EIA crude oil inventory report comes out Wednesday.The September U.S. employment report on Friday will be the last before the November election.These are the main moves in markets:StocksFutures on the S&P 500 Index decreased 0.3% as of 6:45 a.m. New York time.Nasdaq 100 Index futures dipped 0.4%.The Stoxx Europe 600 Index was little changed.The MSCI Asia Pacific Index declined 0.6%.CurrenciesThe Bloomberg Dollar Spot Index was little changed.The British pound was little changed at $1.2857.Switzerland’s franc was little changed at 1.0799 per euro.The offshore yuan strengthened 0.1% to 6.81 per dollar.BondsThe yield on 10-year Treasuries increased less than one basis point to 0.65%.Germany’s 10-year yield climbed one basis point to -0.54%.Britain’s 10-year yield advanced one basis point to 0.198%.New Zealand’s 10-year yield climbed five basis points to 0.519%.CommoditiesWest Texas Intermediate crude decreased 0.6% to $39.06 a barrel.Gold weakened 0.5% to $1,887.86 an ounce.Natural gas dipped 2.3% to $2.50 per mmbtu.Iron ore surged 3.6% to $121.05 per metric ton.For more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2020 Bloomberg L.P.
HSBC, JPMorgan, StanChart and others processed trillions of dollars of transactions despite concerns over potential crimes, reports say
Some of the world's biggest banks, including HSBC, JPMorgan Chase and Standard Chartered, moved trillions of dollars identified as being potentially tied to money laundering or other crimes despite raising concerns about those transactions in filings with US regulators, according to media reports on Sunday.The disclosures again raised questions about the success of government efforts […]
Restaurateurs have experienced a tough year, what with lockdowns ongoing and new restrictions to adhere to. Now more than ever, it’s important to improve your restaurant management, to stay afloat, and boost success. To support your restaurant management in 2021 and beyond, take a look at these software options and tips. Restaurant management software. 1 […]
(Bloomberg) — Germany’s blame game over Wirecard AG’s collapse is focusing in on the question of why authorities failed to take a harder look at the payments company before it became the country’s biggest accounting scandal in living memory.Lawmakers will question a top adviser to Chancellor Angela Merkel on Monday in Berlin before grilling financial […]