What happened yesterday?
Most groups in the S&P 500 advanced, with retailers and tech companies among the biggest gainers. The Dow Jones Industrial Average, on the other hand, underperformed amid a drop in banks. European markets closed higher and the FTSE 100 ended at 0.8 per cent up.
The yield on 10-year Treasuries advanced one basis point to 0.67 per cent, while Britain’s 10-year yield gained five basis points to 0.203 per cent.
The euro decreased 0.5 per cent to $1.1708; the pound to dollar exchange rate tumbled dramatically as UK prepares for a second lockdown.
In company news:
Deutsche Bank has announced yesterday that it plans to cut one in five bank branches in Germany as the pandemic drives more customers online.
Facebook has warned that it will be forced to pull out of Europe, if the Irish data protection commissioner enforces a ban on sharing data with the US. This follows a landmark ruling by the European court of justice in July that there were insufficient safeguards against snooping by US intelligence agencies.
Amazon has launched a $500 Prime Bike in a bid to enter the indoor-cycling bike market and take on Peloton Interactive.
US private equity fund Lone Star has dropped out of the race to buy Asda, leaving rival Apollo to take control of Britain’s third-biggest supermarket. Lone Star was reportedly unable to match the price sought by Asda’s owner Walmart.