The United States has been registering more than 60,000 new coronavirus cases a day in recent days, and cases are also on the upswing in France and throughout Europe where governments are enacting new restrictions.
President Donald Trump said Congress will approve a pandemic rescue package for the US economy after the November 3 election, seeming to concede defeat on efforts to reach a deal before voters decide whether to give him a second term. Meanwhile, the Conference Board reported that US consumer confidence in October lagged analyst expectations.
"Consumers' assessment of current conditions improved while expectations declined, driven primarily by a softening in the short-term outlook for jobs," The Conference Board's senior director of economic indicators Lynn Franco said. Among individual companies, shares of Xilinx jumped 8.6 per cent after it reached a deal to be acquired by rival chipmaker AMD for US$35 billion. AMD shed 4.1 per cent.Travel-oriented stocks dropped in a sign of renewed anxiety about Covid-19. American Airlines lost 4.8 per cent, Booking Holdings shed 3.0 per cent and Marriott International fell 2.7 per cent.For daily updates on weekdays and specially selected content for the weekend.
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