Archives of “October 2, 2020” day

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There is likely to be further selling to go on the Hope Hicks COVID-19 infection news

  
  Analysis

The reports now are that White House officials were aware the Hicks had contracted the virus on Wednesday evening.

What this means is that Hicks was positive when flying aboard Air Force 1 with Trump on the same day.
Stocks are on the slide as are ‘risk’ trades more widely.
Hicks was also aboard Marine One, the President’s helicopter transport, on Wednesday along with other advisers and staff.  Pictured here walking to board.
hicks trump coronavirus COVID-19
Trump has been taking precautions for months now, distancing, wearing a mask, avoiding close contact where he can. And he is renowned for his scrupulous hand-washing habits. As I said earlier his age and obesity mark him out as being in a high-risk group, like so many of the 200,000+ Americans (and more than a million around the globe) who have perished from the infection. Its good he is taking care of himself.

Trump aide Hope Hicks test positive to COVID-19

  
Analysis, Politics

Hicks is a close confidante of Trump

  • former White House communications director
  • now an aide to senior advisor Jared Kushner
Media reports add:
  • Hicks travelled with Trump aboard Air Force One to and from the presidential debate on Tuesday, and to his Minnesota rally yesterday
Let’s hope she recovers soon.
As for President Trump, his age and obesity put him in a high-risk group. Let’s hope also he does not contract the infection despite the close contact.
hicks trump coronavirus COVID-19

Friday is nonfarm payroll day in the US – Goldman Sachs preview

  
  Analysis

September NFP is due at 1230 GMT on Friday 2 October 2020

  • Headline expected is +875k, prior +1371K
  • Unemployment expected 8.2%, prior 8.4%
  • Average hourly earnings expected +0.2% m/m and +4.8% y/y, prior 0.4 and 4.7% respectively
Estimate from Goldman Sachs:
  • headline +1.1m in September
  • unemployment rate 8.1%.
GS cite:
  • High-frequency labour market information indicates strong September job gains,
  • the second derivative improvement in the public-health situation suggests scope for a pickup in Sun Belt job growth

US Indices close with their 5th positive close in the last 6 trading days

  
Analysis, US Market

Hopes for a stimulus package

The US major stock indices closed higher for the 5th day over the last 6 days. The NASDAQ led the way and is closing near the session highs. It is also at the highest level since September 3.
The Dow and S&P also closed higher but are nearer the midpoint of their trading ranges and with smaller gains.  Nevertheless those indices are up for the 2nd consecutive day.
The final numbers are showing:
  • The S&P index closed up 17.8 points or 0.53% at 3380.80. The high price reached 3397.18. The low price extended to 3361.39
  • The NASDAQ index is closing up 159.00 points or 1.42% at 11326.50. The high price reached 11344.13. The low extended to 11240.53
  • The Dow closed up 35.20 points or 0.13% at 27816.90.  The high price reached 28041.46. The low extended to 27669.26.
Some of the biggest winners today included:
  • Chewy, +7.55%
  • Netflix, +5.53%
  • Twitter, +4.94%
  • Tesla, +4.4%
  • Charles Schwab, +4.17%
  • Slack, +3.95%
  • CrowdStrike, +3.89%
  • Square, +3.73%
  • AMD, +3.54%
  • First Solar, +3.46%
  • Zoom, +2.76%
  • Beyond Meat, +2.72%
  • American Airlines, +2.36%
  • Amazon, +2.35%
  • micron, +2.07%
The bigger losers today include:
  • Goodrx, -9.59%
  • Schlumberger, -3.53%
  • Exxon Mobil, -3.51%
  • Snowflake, -3.14%
  • Albemarle, -2.85%
  • Morgan Stanley, -2.25%
  • Chevron, -2.22%
  • Alcoa, -2.06%
  • DuPont, -1.73%
  • Caterpillar, -1.68%
  • Merck, -1.56%
  • Rack Space, -1.45%
  • Emerson, -1.4%
  • AliBaba, -1.35%
  • Northrop Grumman, -1.22%
  • Goldman Sachs, -1.17%
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