Markets Climb Back Up after Dip
Stocks in the U.S. market rebounded after the dip yesterday when the Federal Reserve had announced it would start scaling back its monetary support for the economy.
Tech companies are leading today’s bounce back with NASDAQ more than 1% up.
Stoxx Europe is up by 0.30%
Dow Jones is up by 0.76%
NASDAQ is up by 1%
Australia Announces Night Curfew In Sydney
Australia on Friday has announced a night curfew in Sydney from next week as Covid cases rise. Australia shows clear indications of a third Covid wave, centered on Sydney. The curfew will be from 9 p.m. to 5 a.m. and will take effect from Monday. Those who don’t follow the rules will be fined and have to self-isolate for 14 days.
Global Market Share Of Korean Automobile Companies Reaches 8%
The global market share of Korean companies rose by 0.6 percent from 7.4 percent in the first six months of 2019 to 8% in the first half of this year. The companies have. sold 22,97,000 units globally during the first half of 2021 against 23,03,000 units sold in the first half of 2019.
Sputnik V- AstraZeneca Mix Shows Positive Result: RDIF
The Russian Direct Investment Fund(RDIF) said on Friday a small-scale study into the combined use of the AstraZeneca vaccine and the first component of the Sputnik V vaccine shows positive results. The study was conducted first in 20 participants and preliminary data shows antibodies to the SARS-CoV-2 virus spike protein (S-protein) elicited in 100% of cases.
J&J CEO Alex Gorsky To Step Down
The world’s biggest healthcare product maker Johnson & Johnson said on Friday Alex Gorsky will soon step down as the CEO and Chairman of the company. The current Vice-Chairman of J&J’s executive committee, Joaquin Duato will become the CEO and a member of the company’s board of directors on January 3.
Auto Production Will Drop DUe To Chip Shortage: IHS Markit
IHS Markit said the semiconductor shortage will affect the auto sector globally and there will be a drop of 71 lakhs in production. The situation will continue till the second quarter of 2021, but expecting some recovery in the second half of next year. Many countries are lagging far behind the vaccination drive target, which will in turn affect the supply chain.
Hong Kong falls into Bear Market
The Hang Seng, the bechmark index of Hong Kong has entered a ‘technical’ bear market. The markets have been in a sell-off node after China’s crackdown on tech, educational and multiple other sectors.
Hang Seng fell more than 1.8% today with the total fall in 6 months being above 20%.