U.S. Stock Markets Fall Friday

  • On Thursday, the euro suffered a sharp sell-off.
  • On Thursday, US economic data for the third quarter exceeded expectations.
  • Ford Motor Company announced its third-quarter financial report, with a net profit of $2.4 billion, a per year increase of approximately 465%.

On Friday, the three major U.S. stock indexes collectively opened lower. The Dow fell 0.44%, the Nasdaq fell 0.74%, and the S&P 500 fell 0.58%. The first estimate released by the US Department of Commerce on Thursday showed that the actual (GDP) of the United States in the third quarter increased.

Euro currency

However, the increase is still difficult to match the annual decline. On Thursday, the euro suffered a sharp sell-off due to the second wave of lockdown in Europe, and the European Central Bank’s hint that it would further relax its monetary policy in December.

After European Central Bank President Christine Lagarde hinted that further monetary stimulus measures would be taken next month, the euro fell more than 0.8% today to near 1.1650, the lowest point last month.

According to data released by the German Federal Labor Office on Thursday, after seasonal adjustments, the number of unemployed persons in the German labor market in October decreased by 35,000 to 2.863 million from the previous month. This was the fourth consecutive month of decrease.

The Bank of Japan decided at its monetary policy meeting on Thursday to continue to maintain a large-scale financial easing policy in response to the new coronavirus epidemic. According to the Bank of Japan’s economic outlook report, Japan’s real GDP growth rate is expected to be minus 5.5% in 2020, which is more pessimistic than the outlook data released in July this year.

On Thursday, US economic data for the third quarter exceeded expectations. However, economists are divided on how long it will take to get out of the pit caused by the pandemic. As cases spread at a record speed, and Congress failed to provide a stimulus package, the road to economic recovery has become complicated.

Ford Motor Company, commonly known as Ford, is an American multinational automaker that has its main headquarters in Dearborn, Michigan, a suburb of Detroit. It was founded by Henry Ford and incorporated on June 16, 1903.

On Wednesday, Ford Motor Company announced its third-quarter financial report, with a net profit of $2.4 billion, a per year increase of approximately 465%. Although a series of important models will be launched in the next few months, the company has raised its full-year performance expectations.

For many years, the chip giant Intel has always had an absolute advantage in the field of server CPUs. Even though AMD has strengthened and optimized designs for high-performance computing such as servers and data centers, and launched the server CPU product EPYC, Intel still accounts for about 94%. The data center market share is called “the king of data centers.”

Ping An of China (601318) announced on the evening of October 30 that the American depositary shares controlled by Lufax have been approved to be listed on the New York Stock Exchange and will begin trading on October 30 (New York time) under the stock code: LU.

The final offer price for the issuance of American Depositary Shares is $13.50 per American Depositary Share. As of the announcement date, the company held a total of 475 million common shares of Lufax Holdings, which accounted for approximately 39% of its total issued share capital.

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Benedict Kasigara

I have been working as a freelance editor/writer since 2006. My specialist subject is film and television having worked for over 10 years from 2005 during which time I was the editor of the BFI Film and Television.

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