Daily Markets: Full Plate As Investors Digest Earnings, Positive Covid-19 News, And U.S.-China Tensions

Daily Markets: Full Plate As Investors Digest Earnings, Positive Covid-19 News, And U.S.-China Tensions

Today’s Big Picture

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Today’s Big Picture

Despite comments from the Bank of Japan that it sees further economic risks to the downside, Asian equities finished trading today on a positive note save for China’s Shanghai Composite Index that closed 1.6% lower. That retreat was in response to renewed trade tensions with the U.S. as China vowed to retaliate in response to President Trump signing the Hong Kong Autonomy Act that ended Hong Kong’s preferential trade status and imposed sanctions on officials who crack down on rights. Adding to the renewed tension, President Trump also shared that he’s “not interested right now” in engaging in a second round of trade negotiations with China. 

Despite that on-again geopolitical tension, European equities are up across the board by mid-day trading and U.S. futures point to move higher when those equity markets open later this morning. Those positive vectors are being fueled by encouraging data published by The New England Journal of Medicine regarding Moderna’s…

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