In this week’s recap, the main US stock indices ended lower, after having reached all-time highs earlier in the week, as delays over a new fiscal stimulus package & surging coronavirus infection hurt investor sentiment, along with failure for a trade deal on Brexit.
The European Central Bank is poised to deliver another round of monetary stimulus to help the Eurozone through the pandemic, adding €500B ($605B) more to the Pandemic Emergency Purchase Program & extending it by at least 6 months to the end of 2021. Investor bets on more European Central Bank stimulus kept Europe’s main stock markets slightly mixed & the Euro stable, but the U.K.’s pound saw its biggest drop in nearly a month after overnight Brexit talks failed to break the impasse. Major Asian markets almost all ended lower.
Bitcoin pulled back below $18,800 early on Tuesday, after struggling to break resistance at $19,500. Analysts point toward the $19,500 to $19,600 range as the important resistance area for the foreseeable future. Above it, BTC has the potential to break through a new all-time high & continue the rally.
A bipartisan group of U.S. state Attorneys Generals & the Federal Trade Commission (FTC) both filed antitrust lawsuits against Facebook, accusing it of anti-competitive acquisitions. The lawsuit alleges Facebook sought to maintain its monopoly power by acquiring potential rivals, including WhatsApp & Instagram.
The wealth of U.S. households hit a record in September; Airbnb is worth more than Expedia Group & Marriott International combined; DoorDash shares rose to $ 189 on Wednesday; multi-billion dollar contract between Iraq and China in exchange for oil supplies.