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Tomorrow’s US election remains the focus. Most polls give Biden a decisive lead in the popular vote, much more than Clinton had in the run-up to the 2016 election and, crucially, Biden is mostly ahead in the key swing states. Investors are bracing for the

The big news yesterday locally came from the Reserve Bank of Australia which cut the cash rate to a record low 0.1% from 0.25%.

Markets surged overnight with the bullish thesis based around the view that a narrow US election victory, coupled with split legislation makes it unlikely for Biden tax hikes to be passed & technology antitrust reform becomes tougher to legislate.

The backdrop of a second wave of COVID-19 and fresh lockdowns in Europe and now the UK, mixed earnings from big technology companies and this week’s Presidential election has investors on the side-lines.

US economic output (GDP) rebounded at a stronger than expected +33.1% annualised rate in the July to September period following the -31.4% decline in the 2nd quarter. The faster rate of expansion was better than economist expectations (+32%) but still lea

The Stoxx 600 European market index fell to a 5-month low, losing -3% as German Chancellor Angela Merkel reached a deal for a one-month partial lockdown to curb the spread of the virus.

The Nasdaq rose ahead of results from mega-cap technology companies and after Advanced Micro Devices announced a $35bn takeover of another chipmaker.

While large, we would put the overnight moves in context – markets are generally still in positive territory for the month and it is very early to panic. There is likely to be continued volatility as we head into the US election in a weeks time.  

Earnings season continues, with social media firms are trading higher after Snap reported strong earnings. Netflix slipped -6.5% after subscribers fell short of predictions.