Here’s what you need to know about the impact of Covid-19 to navigate the market today.
• Shares will open on Monday morning, as US equity futures markets fell late Sunday. Dow Jones Industrial Average futures were down 176 points, or 0.6%, while S&P 500 futures lost 0.7% and Nasdaq Composite futures were down 0.7%. Investors will be watching the prospect of dimming the stimulus deal before the election. House Speaker Nancy Pelosi has said Democrats and the White House need to reach a deal by Friday if the bill has a chance to pass before November 3. The deadline was over on Sunday, Pelosi said he hoped to have a response from Treasury Secretary Steven Mnuchin on some of the things he was worried about by Friday around Monday. Also this week, Wall Street will see the five tech giants – Apple, Alphabet,
– report earnings as regulatory oversight of the firm’s strength increases.
• Spain imposed a national curfew, a curfew from 11pm to 6am to help curb the spread of the coronavirus. Prime Minister Pedro Sánchez declare a state of emergency, saying, “the reality is that Europe and Spain are drowning in the second wave of the pandemic.” The curfew was imposed immediately and is expected to last for six months. The only exceptions are people who commute to work, buy medicine, or care for family members. Spain recently became the first European country with more than 1 million cases of coronavirus infection reported. As of Friday, 20,000 new cases and 231 deaths were reported.
In Italy, Prime Minister Giuseppe Conte has imposed new month-long restrictions that include closing restaurants and bars at 6pm except for take-out and drop-off and closing all gyms, swimming pools and cinemas. “Our goal is to protect health and the economy,” Conte said. Italy has more than 500,000 confirmed cases and more than 37,000 deaths due to Covid-19.
• Several of Vice President Mike Pence’s assistants, including his chief of staff Marc Short, has tested positive for Covid-19. Short tested positive on Saturday, said a spokesman for the vice president. Short quarantined and assisted with contact tracing, Pence spokesman Devin O’Malley said in a statement. At least three other staff and a campaign advisor have also tested positive for the coronavirus. The Wall Street Journal reports. “Vice President Pence and Mrs Pence both tested negative for Covid-19 today, and remain in good health,” said O’Malley. Pence, who heads the White House Coronavirus Task Force, has been in close contact with Short, O’Malley said, but the vice president will keep his schedule as planned and will not go into quarantine. Instead, O’Malley said Pence had consulted White House doctors and would follow protocol for “key personnel” while he continued campaigning.
• Speaker of the House Nancy Pelosi said Sunday on CNN that he hopes to get a response from Treasury Secretary Steven Mnuchin on Monday about what he calls the “worry” Democrats have with the stimulus bill they negotiated with the White House. Pelosi said that while he was “hopeful” about a deal to be reached, Democrats still had not received a formal commitment from the White House on how much funding to make available to state and local governments. “They keep moving the goalposts,” he said, referring to the White House. “Every time they say we move the goalposts, it means they are projecting what they are doing.”
• TThe Senate will hold key procedural voting Sunday to advance Judge Amy Coney Barrett’s nomination to the Supreme Court into a confirmation vote that is likely to take place Monday evening. The weekend vote will allow Republicans to tackle Democrats’ attempts to use a filibuster to block Barrett’s candidacy and the GOP has enough votes in the Senate to overcome that opposition. In a push for Barrett’s candidacy, Senator Lisa Murkowski (R., Alaska) said Saturday that while she opposes filling the Supreme Court seats just days before the presidential election and will vote with Democrats to block the vote before the full Senate, she will vote in favor of the candidacy. Barrett himself. “While I am against the process that got us to this point,” Senate Murkowski said in a Senate speech. explain the changes, “I do not oppose him as an individual who has gone through challenges with grace, skill and humility.”
• The US reported 83,718 new cases of Covid-19 on Saturday, slightly below the record 83,757 cases reported on Friday., based on data collected by Johns Hopkins University. The near record rate of new infections is another clear sign that the US coronavirus pandemic has entered its third wave, with cases surging across the Midwest and Rocky Mountain states. Hospitalizations have also increased, reaching the highest level since mid-August. In a clear departure from President Donald Trump’s message that the US is “on a bend” in its fight against the coronavirus, White House chief of staff Mark Meadows said Sunday on CNN that “we are not going to control the pandemic. We’ll control the fact that we get vaccines, therapy. ”
Write to Ben Walsh at [email protected]