World News – CA – Equity rally pauses as European cyclicals retreat: Market collapse

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(Bloomberg) – The global risk-weighted assets rally slowed as the spreading pandemic dampened profits in European stocks and U.. S.. . Stock futures. Bitcoin fell 8%.

Cyclical companies, including banks and energy companies that led the post-vaccination surge, retreated while more defensive tech stocks rose, with the Stoxx Europe 600 index unchanged. This was reflected in the US stock futures. S.. . where the contracts on the main display changed little while those on the tech-heavy Nasdaq 100 rose.

Even with three successful vaccines on the table, sentiment turned cautious on Thursday as virus numbers continued to rise in Europe and the US. S.. . and called on Chancellor Angela Merkel to urge the European ski resorts to close this winter. The task of vaccinating the world’s population is fraught with logistical problems as the virus gains traction and economic recovery falter.

« Question marks still concern the speed of a global roll-out and the proportion of the population to be vaccinated, » wrote Geir Lode, head of global equities for Federated Hermes’ international operations, in a statement to customers. “These factors combined with a second straight week of rising unemployment claims in the US. S, seems to have halted the rotation in value and back-to-work inventory for the time being. ”

Meanwhile, Treasury futures rose as the cash market closes and traders leave for Thanksgiving in the US. S.. . A flood of data on Wednesday brought the first increase in weekly U in a row. S.. . Unemployment claims since July and a growing trade deficit.

Investors comforted themselves with the minutes of the last meeting of the Federal Reserve, in which the Nov.. 4-5 meeting that « pretty soon » gives more guidance on its bond buying strategy but saw no need for immediate adjustments.

West Texas Intermediate Crude Oil fell below $ 45 a barrel. In cryptocurrencies, Bitcoin and Ethereum fell after their recent surge.

U. . S.. . celebrates the harvest festival on Thursday. The exchange closes at 1 a.m.. m. on Friday. The week ends with Black Friday, the traditional start of the U.. . S.. . Christmas shopping season.

Futures on the S&P 500 index rose by 0. 1% from 9:31 a. m. New York time. The Stoxx Europe 600 Index rose by 0. 1%. The MSCI Asia Pacific Index gained 0. 7%. The MSCI Emerging Market Index rose by 0. 9%.

The Bloomberg Dollar Spot Index rose by 0. 2%. The euro fell by 0. 2% on $ 1. 1895. The British pound fell by 0. 4% on $ 1. 3333. The onshore yuan was barely changed at 6 a.m.. 577 per dollar. The Japanese yen rose by 0. 2% to 104. 28 per dollar.

Germany’s 10-year yield fell two basis points to -0. 58%. Japan’s 10-year yield rose 1 basis point to 0. 026%. The UK 10 year return fell 2 basis points to zero. 295%.

West Texas Intermediate Crude Oil declined 0. 8% up to $ 45. 34 a barrel. Brent crude declined by 0. 9% up to $ 48. 17 a barrel. Gold strengthens 0. 3% on 1. 813 USD. 37 an ounce.

The Canadian dollar has barely changed against its U. S.. . Counterpart on Thursday, when the latest oil rally lost some of its momentum and before a parliamentary appearance by the Governor of the Bank of Canada, Tiff Macklem. Oil, one of Canada’s major exports, fell from its seven-month high as signs of growing supply helped halt a rally fueled by optimism that COVID-19 vaccines will revive fuel demand. U. . S.. . Crude oil prices fell by 0. 8% at $ 45. 36 a barrel while the Canadian dollar was roughly unchanged at 1. 3001 to the greenback or 76. 92 U. . S.. . cent.

Srinagar (Jammu and Kashmir) [India], 26. November (ANI): According to election commissioner K, special polling stations for Kashmiri migrants will be set up in Jammu and Udhampur. K Sharma, on Thursday.

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This Italian city north of Milan is known for its Formula 1 racetrack. On two days that an Associated Press photographer was out with an ambulance at night, the Monza-Brianza province added around 875. 000 inhabitants 1. 859 new cases added, ranking second in the Italian virus epicenter of Lombardy after neighboring Milan. Many are quarantined at home after testing positive and ambulance calls are dying as their condition deteriorates overnight and hospitalization is required.

According to a report, the shortage of migration from European countries caused by Brexit could hit the labor market hard.

Formal job creation in Brazil hit a record high in October, the numbers showed on Thursday as the dominant service sector came back to life and accounted for around 40% of new jobs. According to the Ministry of Economic Affairs, a net 394. 989 formal jobs created. This was the fourth month in a row of gains, well above the 233 forecast in a Reuters poll of economists. 500. The following graphic from the Ministry of Economic Affairs shows the extent of employment growth in October compared to the same month last year.

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Thailand rice export prices this week hit their highest level in over two months due to rising container freight rates, while an appreciation of the rupee and an improvement in demand boosted staple food prices in India. The 5% broken parboiled variety from India’s top exporter was listed at $ 372 to $ 378 per ton, compared to $ 366 to $ 370 last week. « The demand for Indian rice is good because it is cheaper than other exporting countries, » said B. . V. . Krishna Rao, president of the Rice Exporters Association (REA) said.

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TORONTO – A psychiatrist is expected to testify on the defense today in the murder trial for the man who drove a van down a crowded Toronto sidewalk and killed 10 people. Alek Minassian has pleaded not guilty to 10 first degree murders and 16 attempted murders. The defense argues the 28-year-old from Richmond Hill, Ont. , should be on 23. April 2018 should not be held criminally responsible for his actions due to an autism spectrum disorder. On Monday, the judge gave the Crown and its experts a few days to review a series of interviews that a defense psychiatrist had with Minassian. Another psychiatrist has testified that Minassian’s autism spectrum disorder locked him in on mass murders and made him susceptible to gossip about an American mass murderer. The court heard Minassian told various doctors that his motivation for the attacks ranged from publicity to revenge on society for years of rejection by women to fear of getting a new job. This report from The Canadian Press was first published in November. 26, 2020. The Canadian press

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WASHINGTON – Monday seemed to mark the end of President Donald Trump’s relentless challenges to the election after the federal government recognized that President-elect Joe Biden was the « obvious winner » and Trump paved the way for working together on one Made change of power free.
But his unsubstantiated claims come back. And back. And back.
On Wednesday, Trump telephoned a meeting of Republican lawmakers in Pennsylvania organized by his campaign to again falsely claim that the elections were tainted.
« This election has been rigged and we cannot allow that, » Trump said by phone and did not provide any concrete evidence.
The 2020 presidential race will be the zombie election that Trump just won’t let die. Despite dozens of legal and procedural setbacks, his campaign continues to pose new challenges that have no hope of success and raise new, unfounded allegations of fraud.
But that’s the point. Trump’s strategy was not to change the outcome but rather to create a myriad of phantom claims about the 2020 presidential race that would undoubtedly infect the nation, even though the winner was clear and there was no evidence of mass fraud.
« Zombies are dead people walking among the living – this litigation is the same, » said Franita Tolson, professor at the University of Southern California’s Gould School of Law. “In terms of litigation that could change the choice, all of these cases are basically dead men. ”
It’s a strategy tolerated by many Republicans, particularly Mitch McConnell, the Senate majority leader in Kentucky, who hold on to Trump as they face the test of keeping their own power in the form of two runoff elections in Georgia in January.
« This is really our version of a polite coup, » said Thomas Mann, Senior Resident Scholar at the Institute of Governmental Studies at the University of California at Berkeley. “It could end quickly if the Republican Party recognizes what’s going on. But they crouch in the face of Trump’s grassroots connection. ”
A day after Trump said his administration should work with Biden’s team, three more lawsuits were filed by allies trying to halt certification in two more battlefield states. In Minnesota, a judge ruled the lawsuit, and the state upheld the results for Biden. Another was filed in Wisconsin, not certifying until Tuesday. The Arizona Republicans filed an election inspection complaint. State certification is due on Monday.
And the campaign legal team said that state lawmakers in Arizona and Michigan would hold election meetings « to instill confidence that all legal votes were counted and illegal votes were cast in the April 3 election. November were not counted. ”
In Pennsylvania, where the state’s Republican lawmakers met in Gettysburg on Wednesday to voice complaints about the election, Trump’s attorney Rudy Giuliani attended in person and Trump dialed in from the Oval Office.
« We all have evidence, » assured Trump. “All we need is for a judge to hear it right without having a political opinion. ”
The strongest legal reprimand to date, however, came from a Conservative Republican federal judge in Pennsylvania federal court who dismissed the Trump team’s lawsuit on Saturday to dismiss the election results. The judge admonished the Trump campaign in a damning verdict over the lack of evidence. The campaign has appealed.
Trump’s allies have privately acknowledged that their plan would never actually turn the results upside down, but rather provide Trump with a diversion for a loss he didn’t have to offer and a way to base everything he does next to keep loyal.
« And then our governance and politics will be hellish because he will continue to do what he does from his private space, » Mann predicted.
Emily Murphy, chief officer in the General Services Administration, declared Biden the « obvious winner, » on Monday, a procedural yet critical move that allowed the transition to begin in earnest. She made the decision after Trump’s efforts to undermine the vote failed in all battlefield states. She cited “recent developments related to legal challenges and certification of election results. ”
Michigan confirmed Biden’s win on Monday at 154. 000 points despite Trump urging GOP members to block the vote to allow ballot papers to be checked in Wayne County, where Trump claimed he was a victim of fraud. Biden has the president there with more than 330. 000 votes cast down.
« The duty of the board of directors today is very clear, » said Aaron Van Langevelde, vice chairman of the Republicans. “We are obliged to confirm this choice based on these results. ”
Still, Trump’s legal team rejected certification as « simply a procedural step » and insisted that she would keep fighting.
Trump and his allies have filed at least four cases in Michigan of unsuccessful attempts to block all or part of the certification of election results.
In Pennsylvania to Gov. . Tom Wolf confirmed Biden as the winner, and an appeals court judge ordered state officials to stop further steps to confirm the election results. The state has appealed to the Pennsylvania Supreme Court.
In Arizona, when a woman’s attorneys in the Phoenix area dropped a case alleging the equipment could not record her ballot because she locked it with a county-issued sharpie pen, Trump’s campaign ran its own Lawsuit repeating some of the same complaints. When this lawsuit was about to be dismissed, the woman’s attorneys filed a new case reviving claims and asking that she be allowed to rewrite her ballot. All three cases have since been dismissed.
« The legal process seems to be developing as it should, but the Trump campaign has made clear a desire to throw wrenches into the system wherever possible, » said Lisa Marshall Manheim, a professor at the University of Washington School of Law.
___
Richer reported from Boston. Associate Press Writer Maryclaire Dale in Philadelphia, Scott Bauer in Madison, Wisconsin; Jacques Billeaud in Phoenix and Steve Karnowski in St. . Paul, Minnesota, contributed to this report.

Colleen Long, Alanna Durkin Richer, and Zeke Miller, The Associated Press

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Boris Johnson has appointed former Treasurer Dan Rosenfield as his new Chief of Staff. Mr Rosenfield, currently Head of Corporate Customers and Business in the UK at strategic consulting firm Hakluyt, will be announced on Jan.. Start work on Downing Street on December 31st. Lord Udny-Lister is supposed to. Continue to serve as acting chief of staff on January 1, 2021 before Mr Rosenfield officially takes office, Downing Street said.

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World news – CA – Stock rally pauses as European cyclicals retreat: Market collapse

Ref: https://ca.finance.yahoo.com

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