There are significant hopes for a U.S. stimulus package after Senate Majority Leader Mitch McConnell said lawmakers are honing in on a rescue deal. Berkshire Hathaway CEO Warren Buffett tells CNBC this agreement by Congress is paramount to save small and medium-sized businesses. The U.S. Federal Reserve is expected to improve economic forecasts during its December meeting but is likely to stop short of expanding the bond-buying programme. In Europe, the ECB has asked banks to limit dividend payouts until September 2021 but eases restrictions on payouts for lenders across the euro zone. And in tech news, China’s biggest chip maker SMIC sees shares plunge after the co-CEO threatens to resign and the stock is removed from the MSCI index over U.S. blacklisting.  See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

COVID-19 infection rates continue rising, putting New York City at risk of a full lockdown, while London enters tougher restrictions after being moved into Tier 3. Up to six million doses of Moderna’s vaccine are set to be distributed across the U.S. pending FDA approval while the European Medicines Agency admits hackers have accessed information on the drug. The U.S. Electoral College has confirmed Joe Biden as the next President. The Democrat candidate criticised President Trump’s attempt to overturn the election’s result. In autos news, Volkswagen CEO Herbert Diess has cemented control of the German car giant with the backing of the board but has so far failed to agree a contract extension.  See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

The UK and the EU have agreed to "go the extra mile" with Brexit trade talks, sending sterling higher. This, after Commission President Ursula von der Leyen and British Prime Minister Boris Johnson held a phone call on Sunday. The UK will revert to WTO trading rules if a deal isn't struck before December 31, while parliaments on both sides will also need to ratify any deal. Germany will go into a full lockdown over the Christmas period amid a rise in coronavirus deaths and infections. Non-essential shops and schools will close across the country starting on Wednesday. The vaccine rollout is now underway in the US, after the FDA granted an emergency approval for the Pfizer and BioNTech vaccine. The US government plans to deliver up to 3 million doses in the first 24 hours.See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

Prepare for a 'no-deal' Brexit - that's the warning from British Prime Minister Boris Johnson as Brussels adopts emergency measures to keep trade flowing if talks collapse. European leaders unlock €1.8 trillion in recovery funds after reaching a deal with Poland and Hungary. Shares in Airbnb double in their debut day of trade, at one point valuing the group at over $100 billion in the biggest U.S. IPO of 2020. Disney bets on its streaming platform, as the entertainment giant announces 10 new Marvel and Star Wars shows during its Investor Day, while raising prices for Disney plus. A group of FDA advisors vote in favour of authorising Pfizer and BioNtech's COVID vaccine for emergency-use, in a move that could see the drug rolled out across America within days.See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

The Brexit dinner date fails to break the deadlock, as Britain's Boris Johnson and EU Commission chief Ursula von der Leyen give the two sides until Sunday to reach an agreement, sending sterling lower. European leaders are optimistic they can unlock €1.8 trillion in recovery funds after Germany strikes a deal with Hungary and Poland to overcome their differences on the bloc's budget. The ECB is expected to provide a fresh injection of stimulus, expanding and extending its bond buying plan as Deutsche Bank CEO Christian Sewing tells CNBC low rates are still hurting profitability. British and American regulators look into Pfizer and BioNTech's vaccine after two adverse allergic reactions, while the companies reveal hackers have stolen data on the drug in Europe. Airbnb prices its IPO at $68 a share - above its target range, while DoorDash shares surge over 80% in its debut day of trade, valuing the delivery group at $71 billion.See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

UK Prime Minister Boris Johnson heads to Brussels for an evening dinner meeting with EC President Ursula Von Der Leyen in an attempt to break the Brexit deadlock. This, after London scrapped the law-breaking elements of the Internal Market Bill. In the U.S., equities see record highs while treasury yields sink to new lows. JPMorgan CEO Jamie Dimon tells CNBC that he wouldn’t touch treasuries “with a ten-foot pole” right now. And there are reports that Softbank CEO Masayoshi Son is buying back shares in a bid to take the investment titan private.   See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

Brexit talks are faltering once more with new demands from Brussels souring the mood in London. At the eleventh hour, France’s President Macron has reportedly intervened over fishing rights and state aid, sparking alarm in Downing Street. Oil prices surge as Opec+ comes to an agreement to relax output cuts in the New Year on an improved demand outlook following second-wave lockdowns. In the U.S., House Speaker Nancy Pelosi and Senate Majority leader Mitch McConnell are once again locked in talks in a bid to push through a bipartisan stimulus bill to release more virus aid and avoid government shutdowns. After the euphoria of the UK’s approval of Pfizer’s Covid vaccine earlier this week, the U.S. drug giant sees its shares fall after supply problems force it to slash its dose target in half.  See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

President Trump is set to receive a bill to sign off on delisting certain Chinese companies from U.S. stock markets, following a House vote unanimously supporting the law. German travel firm Tui sees shares dip after receiving its third state bailout following mounting virus-related losses. In London, the FTSE closed sharply higher on improved sentiment around yesterday’s Pfizer/BioNtech vaccine approval as well as the expiry of the UK’s second lockdown. And we hear from U.S. Federal Election Commissioner Ellen Weintraub who says that social media giants Facebook and Twitter could have taken stronger measures to combat misinformation online before last month’s U.S. election.See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

Highs on Wall Street, but deadlock in Washington DC. U.S. Senate majority leader Mitch McConnell rejects a bipartisan stimulus plan, while Treasury Secretary nominee Janet Yellen warns that failure to act will cause an “American tragedy”. U.S. AG William Barr has announced the DoJ has found no evidence of voter fraud in last month’s U.S. election. In corporate news, ARM CEO Simon Segars tells CNBC that Nvidia’s $40bn takeover deal is possible despite internal divisions.See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

Unicredit CEO Jean-Pierre Mustier steps down after clashing with the Italian bank’s board over his restructuring plan and pressure to acquire Monte Dei Paschi Di Siena. OPEC members fail to reach an agreement on output which delays a meeting with other oil producers and pushes crude prices lower. Zoom shares dip in after-hours trading after the video app said that surging demand during lockdown has increased costs, offsetting its better-than-expected Q4 results.See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

Manufacturing activity in China soars to its fastest rate in three years and services PMI hits an 8-year high. Meanwhile, the White House is set to blacklist Chinese chipmaker SMIC and oil major CNOOC for alleged ties to the Chinese military. This, as Congress is also looking to vote to tighten rules on Chinese companies seeking a U.S. market listing. Black Friday numbers are in Stateside, with online sales surging by 22 per cent to $9bn – the second-largest spending day on the web in American history. In M&A news, S&P Global is reportedly looking to buy London-based data firm IHS Markit for $44bn in what would be the largest merger of 2020.    See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

Chinese industrial profits surge by almost 30 per cent in October as the manufacturing sector clocks its sixth consecutive month of growth since the pandemic. Hungary and Poland dig their heels in over ‘rule of law’ concerns to deny resolution over the EU budget and potentially delay recovery funds. Polish PM Mateusz Morawiecki warns member states they are threatening the break-up of the bloc. U.S. markets point to a calm open after Thanksgiving, despite President Trump claiming vaccine delivery for emergency workers and seniors can begin next week. Trump also said he will concede the White House if the Electoral College confirms its final results early next month.  See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

U.S. markets see a Thanksgiving sell-off. Meanwhile, President-elect Biden’s call for people to observe Covid rules is met with a mass holiday travel getaway across the country. This, as rising jobless claims came in worse than expected. In Europe, ECB Vice-President Luis De Guindos has told CNBC that while bank profits on the Continent will be temporarily weak, the sector remains robust. UK markets closed lower yesterday following Chancellor Rishi Sunak’s spending review where he warned of an extended economic emergency. Britain’s GDP for 2020 is set for its biggest contraction in 300 years. And following Monday’s markets euphoria over the AstraZeneca/Oxford vaccine announcement, the head of the White House virus taskforce has now voiced doubts over the drug’s trial datasets. In M&A news, Salesforce is reportedly hoping to snap up workplace app Slack, pushing shares up by 20 per cent.  See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

The Dow breaks the 30,000-point barrier for the first time ever with the index set to enjoy its best month since 1987. President Trump calls it “a sacred number”. Meanwhile, President-elect Joe Biden tells NBC the White House is sincere in its transition efforts and that the transfer of power will continue smoothly. In France, President Macron warns citizens to do everything possible to avoid a third Covid-19 wave as he outlines easing restrictions in the run-up to Christmas. UK Chancellor Rishi Sunak will unveil a £4.3bn spending plan to buffer mass unemployment as public borrowing hits levels not seen since WW2. And airlines around the world are likely to lose $160bn over 2020-21. We hear from the boss of IATA who says that not enough is being done to bolster the sector as it awaits mass vaccine rollouts.  See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

President Trump gives ground, agreeing to provide assistance to the Biden transition team by instructing a Federal agency to brief and fund the incoming administration. Dow futures jump on the news and the Russell 2000 small-cap index hits a new record high. Former Federal Reserve chair Janet Yellen is widely tipped to become the first female U.S. Treasury Secretary, while former U.S. Secretary of State John Kerry is also nominated to take on the role of climate czar as the Biden administration seeks to rejoin the UN Paris Agreement.See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

G20 leaders meet virtually and call for global, equitable access to vaccine programmes and continued economic support. Host Saudi Arabia has lauded the stimulus measures enacted by governments around the world. Vaccine optimism has U.S. futures pointing to the upside along with opening calls in Europe, this despite a surge in cases in the States. Germany may begin vaccine roll-outs as soon as December and in Spain from January. And President-elect Joe Biden is to name his cabinet choices tomorrow. Former deputy national security advisor under President Obama, Anthony Blinken, is reportedly set to become Secretary of State.  See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

U.S. Treasury Secretary Steven Mnuchin calls for an end to certain virus support programmes, causing futures to dip. The Fed, however, pushes back against wrapping up business support measures. President-elect Joe Biden says he will name a new treasury secretary around Thanksgiving and vows not to lock down the economy. In Europe, Brexit negotiations are set to resume remotely after a member of the EU delegation tested positive for Covid. Meanwhile, the WHO plays down any efficacy of virus treatment drug Remdesivir.See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

U.S equities close sharply in the red on the back of New York Mayor Bill De Blasio’s public school closures in response to rising Covid-19 cases in the city. This, as the overall Covid-related death toll in the U.S. reaches 250,000. JPMorgan CEO Jamie Dimon says continued caution is needed despite the news that the Pfizer-BioNtech vaccine deliveries could begin by Christmas. Meanwhile, global corporate debt is set to hit a record $277tn by year-end with the IIF warning that emerging economies will be hardest hit. And CNBC hears from Senator Elizbeth Warren and Obama Foundation co-chair Valerie Jarrett who urge a solution to the deadlock in the U.S. presidential transition.See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

Wall Street closes in the red after disappointing retail sales in the U.S. renew calls for more fiscal support, with Democrats urging Republicans to return to the negotiating table. Legendary investor Masayoshi Son tells CNBC he is selling off Softbank assets to hoard cash in a bid to mitigate any Covid-related ‘worst-case scenario’. Facebook’s Mark Zuckerberg and Twitter’s Jack Dorsey appear before the Senate to defend their U.S. election coverage and moderation of content. A White House report warns of a renewed ‘aggressive and unrelenting community spread’ of Covid-19 across America. And in the latest M&A news, Deutsche Boerse announces it has bought a $1.8 bn share in Institutional Shareholder Services.See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

The Dow hits a fresh record high after U.S. pharmaceutical company Moderna says its vaccine is 94 per cent effective. Travel shares react to the upside, while lockdown stocks such as Zoom and Netflix trade lower. President-elect Joe Biden urges a smooth transition of power to help contain the Coronavirus impact across the United States. In Brussels, Hungary and Poland veto the EU’s virus recovery budget over a clause tying funds to the bloc’s rule of law. In banking news, Spanish banks BBVA and Banco Sabadell confirm tie-up talks which would create the country’s second-largest lender with almost €500bn in assets.See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

A major trade deal in Asia drives the continent’s equities higher as fifteen countries in the region sign the world's largest agreement, a move labelled as a 'coup for Beijing'. The deal includes China, South Korea and Japan but not India or the U.S. For the first time, President Trump publicly admits Joe Biden won the election but refuses to concede, while the President-elect prepares to meet vaccine makers as COVID-19 cases across the US top 11 million. Meanwhile, Britain’s Prime Minister Boris Johnson goes into self-isolation after holding a meeting with an MP who later tested positive for COVID-19, as tensions within his inner circle run high. But businesses are regaining confidence in the recovery. The President of Emirates Airlines, Tim Clark tells CNBC he expects the carrier to return to profitability within 18 months, voicing optimism over testing and travel corridors.And, Space-X launches its Crew Dragon spacecraft into orbit, making Elon Musk's venture the first time a private company launches astronauts into space.See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

The S&P 500 loses most of the week's vaccine-based gains after Fed Chair Jerome Powell cautions on a quick return to pre-covid growth rates, while cases stateside hit another daily record. Central bank chiefs hail their joint response at a European Central Bank forum. ECB Executive Board member Isabel Schnabel tells CNBC exclusively that agility will be key for the second wave. And, NBC News projects Joe Biden is the winner in Arizona, nine days after polls closed, further cementing his presidential win as Democrats flip the state for the first time since 1996. China vows to defend the rights of its companies, after President Trump issues an order banning American investment into Chinese firms with ties to the military. And CNBC's East Tech West conference continues with the CEO of Prudential talking health technology, saying his business model will never be the same after Covid.See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

Tech stocks on the Nasdaq finally break the sell-off, ending higher while cyclicals lag and futures dip on both sides of the Atlantic. In China, e-commerce giant JD.com sees shares rally, shrugging off regulation concerns. We speak exclusively with CEO Xu Lei who says domestic demand is soaring. President-elect Biden has held bilateral calls with the leaders of Australia, Japan and South Korea as his transition team gathers members. The CEO of Occidental Petroleum, Vicki Hollub, tells CNBC that although wary of the incoming U.S. administration’s energy stance, she is less worried than some in the industry.   See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

Tech companies are hit hard amid a rotation trade while under-loved lockdown stocks continue to make gains. Alibaba shares see red as the threat of fresh regulation from Beijing overshadows a Singles Day sales bonanza. CNBC hears exclusively from IBM chairwoman Ginni Rometty who welcomes Joe Biden’s U.S. election win and progress in obtaining a Covid-19 vaccine. And we also hear from Boston Federal Reserve President Eric Rosengren who warns of “a pretty choppy six months ahead”.See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

The Dow rallies to its highest level since June after Pfizer and BioNTech claim their vaccine candidate is over 90 percent effective. Travel and airline stocks particularly outperform. However, tech stocks plunge on the news with the Nasdaq seeing the widest trading range with other major markets since the dotcom bubble. US president-elect Joe Biden welcomes the news but remains cautious, urging the public to keep following existing virus restrictions. Attorney-General William Barr orders prosecutors to investigate substantial allegations of voter fraud in last week’s U.S. elections. See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

Joe Biden calls for unity during his first speech as president-elect. U.S. futures react positively as a result. President Trump, however, refuses to concede defeat and will challenge the legality of the election. Biden is reportedly planning to create a Covid-19 taskforce as infections across the U.S. hit new record daily levels. UK Prime Minister and the European Commission President Ursula Von Der Leyen have congratulated Biden on his victory but both Moscow and Beijing have not yet formally reacted.See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

The delayed result of the U.S. presidential election still hinges on several key states with vote-counting coming down to the wire. President Trump has doubled down on claims of electoral fraud by the Democrats, despite his campaign losing two legal challenges. The race in Georgia is virtually tied and Pennsylvania remains too close to call. Democrat candidate Joe Biden has urged for calm while ballots continue to be tallied. U.S. Federal Reserve chairman Jerome Powell has urged for political consensus in Washington on agreeing a fiscal stimulus programme. The Dow and S&P continue to rally, gaining more than one per cent for four consecutive days. Subsequently, it’s been the best week for major markets since April.  See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

The vote count for the U.S. presidential elections continues, with the result on a knife-edge. Two key battleground state wins have emerged for the Democrats. The Trump campaign has demanded a ballot recount in Wisconsin and is filing a lawsuit in Georgia. President Trump is planning more legal action and has urged the Supreme Court to weigh in on alleged counting irregularities. Meanwhile, Democrat hopes of winning the Senate fade as the Republicans will keep their chamber majority. U.S. futures soar with the S&P recording its best post-election gains in modern times, to help Wall Street break a 2-week losing streak.  See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

It’s Election Day in the U.S. A CNBC-Change Research poll indicates that Democrat candidate Joe Biden is holding a narrow lead over President Trump in 6 swing states. Up to 68% of those polled say that they have already cast their ballots. The President has called on the U.S. Supreme Court to review a decision to count mail-in ballots arriving after election day. He warned that the ruling could spark “violence in the streets”. U.S. equities and both Asian and European futures and stocks rally ahead of today’s vote. And in Europe, the second wave continues as France and Spain see a surge in Covid infections – up to 50,000 in a day – while Italy is considering stricter measures to combat the virus but will stop short of a national lockdown.  See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

UK Prime Minister Boris Johnson is set to announce his new Covid -19 restrictions to parliament, amid concerns the 28-day lockdown may not be enough to control the spread of the virus. In the U.S. an NBC/WSJ polls shows Joe Biden leading President Trump by 10 points a day ahead of the presidential election. President Trump has raised fears of electoral integrity should voting-counting continue past November 3rd. Meanwhile, Asian markets are up across the board on news that Chinese manufacturing activity in October expanded at its fastest rate in a decade.   See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

It’s a big day for U.S. tech earnings. Alphabet Q3 numbers soar past expectations after advertising revenue bounced back following its first ever quarterly decline. Apple also beats analysts’ expectations but investor reaction is muted on a lack of guidance and disappointing iPhone sales. Amazon shares see-sawed wildly in extended trading yesterday with stocks initially up on the online retail giant’s 40 per cent Q3 revenue hike. However, they swung into the negative on news of $4bn of virus-related cost-cutting. Meanwhile, Facebook reports a boost in ad sales, but a drop in North American users keeps sentiment flat. Twitter also sees a dip in user growth while revenue came in better than expected.  See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

Lockdown 2.0… France and Germany announce fresh national restrictions to combat the second wave of Covid-19 over the coming winter months. U.S. markets plunge as the Dow suffering its worst day since June with investor confidence rattled ahead of next week’s presidential election. Asia-focused lender Standard Chartered beats Q3 pre-tax profit expectations but performance remains tempered by low interest rates and pandemic jitters. Airbus issues its first guidance since the start of the virus outbreak and believes it will break even by the fourth quarter. However, the French aerospace giant warns that the global travel industry recovery continues to stutter.See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

Earnings season is in full swing on both sides of the Atlantic. In Europe, all eyes are on Deutsche Bank’s third-quarter data with a focus on its loan loss provision figures and trading levels. Meanwhile, Danish brewing giant Carlsberg posts better-than-expected Q3 numbers, enjoying a strong summer surge in China and Russia as lockdown measures eased. In tech news, Microsoft beats estimates across the board, but shares plunge on less-than-optimistic revenue guidance. And President Trump admits that a virus stimulus deal will not materialise before next week’s election, blaming House Speaker Nancy Pelosi of standing in the way of an agreement.See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

Banks are in focus today, as HSBC’s third quarter profit beats expectations but falls 36 percent sending shares higher. The company’s CEO tells CNBC interest rates are expected to remain low. Santander sees net profit treble in the third quarter, but the Spanish bank says it will cut an additional 1 billion euros in costs over the next 2 years.In the U.S., the Dow posts its biggest one day drop since early September and closing below 28 thousand, as rising cases and stalled stimulus weigh on sentiment. Meanwhile the senate confirms Amy Coney Barrett to the supreme court, cementing a conservative majority in the country’s highest judicial body. President Trump's pick says she will be 'politically independent'. And protests break out across Italy after the government imposes renewed virus restrictions, with some demonstrators in Turin turning violent, attacking police with smoke bombs and bottles.See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

US futures come under pressure as America sees a record weekend rise in COVID-19 cases, while Vice-President Mike Pence stays on the campaign trial despite a number of his close aides testing positive. The surge of virus cases in Europe have led the Italian government to impose fresh pandemic measures, putting a curfew on bars and restaurants, and re-closing gyms and cinemas. Prime Minister Giuseppe Conte called on people to 'grit their teeth' and promised economic support through the lockdown. In the tech space, SAP forecasts darker skies ahead, as the German software giant cut its 2020 outlook on weakening cloud revenues. And Jack Ma hails Ant's much-anticipated IPO as the 'largest in history', as reports suggest the listing could top $35bn, with the official pricing expected this week.See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

President Trump and Democrat challenger Joe Biden spar in the final U.S. presidential debate. The topics the pair clashed on included the Covid-19 response, healthcare and the state of economy. U.S. markets close on the upside as American jobless claims fall, signalling an improving economy while House Speaker Nancy Pelosi says a virus stimulus bill is nearing agreement. In Europe, up to two-thirds of French citizens are subject to regional curfews as the country records up to 40,000 new cases in a day for the first time. And there is a return to growth in the luxury sector as strong demand in Asia helps L'Oréal and Kering improve their revenues in the third quarter, but both the cosmetics group and the fashion giant warn of an uncertain outlook. In telco news, Huawei’s double-digit quarterly winning streak ends as U.S. sanctions begin to bite.See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

Tesla has reported its fifth quarterly profit in a row on accelerated vehicle sales. After-hours trading sees shares higher and CEO Elon Musk believes he can expand production up to 20m vehicles annually. Markets are sceptical of a pre-election virus stimulus deal in the U.S., but House Speaker Nancy Pelosi is optimistic she and the White House are close to an agreement. Spain is the first European nation to record 1 million Coronavirus cases. We hear from Deutsche Post DHL boss Frank Appel who remains confident that the continent’s populace can remain resilient during a potential second wave. And in the UK, sterling surges on renewed hopes of a Brexit trade deal as Downing Street and Brussels signal an intention to break the impasse.  See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

Netflix reports its biggest earnings miss ever in Q3 with a sharp slowdown in quarterly subscribers, pushing shares down by more than 5 per cent in after-hours trading. Meanwhile, U.S. futures rise on virus relief hopes. Talks on a stimulus package inch forward but White House Chief of Staff Mark Meadows says certain unresolved issues remain. The OECD Secretary-General Angel Gurria tells CNBC the socio-economic repercussions will outlive the virus itself. This, as the UK records its highest number of daily Coronavirus since June. Meanwhile, Google is hit with a landmark anti-trust lawsuit by the U.S. Department of Justice over alleged unfair practices related to search algorithms and online advertising.See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

UBS says it had its best pre-tax Q3 profit in a decade but warns that political instability may result in increased market volatility. U.S. investors wait on stimulus talks ahead the Democrat-imposed deadline for negotiations. But diminished hopes of a deal led US markets to close in the red with the Nasdaq recording its fifth negative session in a row for the first time since 2019. Markets will also keep an eye on the U.S. presidential elections, after it is revealed that the third and final debate between President Trump and his Democrat rival Joe Biden will feature a mute button to avoid interruptions. And in tech news, South Korea’s SK Hynix buys Intel’s memory chip unit for $9bn.  See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

Chinese GDP misses forecasts but posts a 4.9 per cent rise in the third quarter with retail and industrial activity supporting the post-virus rebound. U.S. futures surge after House Speaker Nancy Pelosi sets a deadline for a stimulus programme to be approved. In Europe, new restrictions are in place across the continent as many governments struggle to contain a second wave of Covid-19. Italy announces new measures while a 9pm curfew takes effect in France, but a Berlin court overturns a ban imposed on late-night bars. Meanwhile, U.K. Cabinet Office Minister Michael Gove says that the door remains “ajar” for EU trade talks to resume, but PM Boris Johnson readies the country for a no-deal Brexit. And in IPO news, Alibaba-owned Ant Group receives regulator approval for its potentially record-setting dual listing.  See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

President Trump and Democrat rival Joe Biden go head-to-head but in separate town hall appearances with the U.S. virus response at the fore of discussions. The White House indicates that it is ready to increase its stimulus offer. Treasury Secretary Steven Mnuchin says House Speaker Nancy Pelosi is the main problem, standing in the way of a deal. We hear from ECB President Christine Lagarde who says that the European economy has some way to go but the central bank has enough measures available in its arsenal to aid the bloc’s recovery. She also warns the U.S. election is adding to volatility. The WHO says that Remdesivir has limited or zero ability in treating Covid patients. And in luxury news, LVMH reports that the sale of leather goods has driven sales back into positive territory in Q3 despite a 7 per cent drop in group like-for-like sales.   See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

Another round of U.S. virus talks stall as U.S. Treasury Secretary Steven Mnuchin says that an agreement seems unlikely before the election. Blowout earnings from Goldman Sachs weigh on U.S. futures and fail to rouse Wall Street. Standard Chartered CEO Bill Winters tells CNBC exclusively that banks are well capitalised in preparation for an event such as the pandemic. In France, President Macron slaps harsher restrictions on nine of the country’s biggest cities in a bid to halt the rise in Covid-19 cases. And in South Korea, Big Hit Entertainment, who manage K-pop sensation BTS, has almost doubled its stock price on its market debut.  See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

U.S. equities break a 5-day winning streak, deepening losses after Eli Lilly halts is Covid-19 drug trial over safety concerns. The Senate is set to vote on a leaner stimulus package, with IMF Chief Economist Gita Gopinath telling CNBC a rescue package deal could add 2 per cent to U.S. growth next year. Apple CEO Tim Cook hails a new era for the iPhone with the launch of its 12th edition, featuring new pricing and 5G capabilities. And Wall Street banks kick off earnings season with JPMorgan and Citi reporting big EPS beats.See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

CNBC hears exclusively from German finance minister Olaf Scholz who says he believes his country’s economy can rebound to pre-virus levels by early 2022, but warned that European leaders need to show further fiscal cooperation. President Trump is back on the campaign trail in Florida after testing negative for Covid-19 but Dr Anthony Fauci says the U.S. is still under-prepared for a second wave in the winter. In tech news, Apple shares surge to their best day since July as investors eagerly anticipate the launch of the latest iPhone. Disney is revamping its business to increase its direct to consumer streaming business, with CEO Bob Chapek telling CNBC he welcomes input from activist investor Dan Loeb. And Johnson & Johnson is forced to halt vaccine trials after a participant falls ill but Russia believes its Sputnik vaccine could be widely available in the country by the end of October.  See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

Democrats slap down a $1.8tn virus stimulus proposal in a further blow to hopes that an agreement can be reached before the U.S. election next month. President Trump claims he has fully recovered from his bout of Covid-19 and has returned to the campaign trail. France records a new infection high with more cities being placed on the maximum alert level, while Germany sees curfews enforced in Frankfurt and Berlin. In China, the PBOC slashes the forward reserve requirement in a bid to manage the yuan’s appreciation against the dollar.  See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

US stimulus plan keep markets in check, after mixed messages over the future of a stimulus deal. House Speaker Nancy Pelosi and Treasury Secretary Steven Mnuchin resume talks in an attempt to reach a piece-meal package. President Trump says he may hold a rally this Saturday after the White House physician says he has completed his COVID treatment and is not showing any symptoms that the illness is progressing. Meanwhile, Chinese stocks rally after the Golden Week holiday, as the country's service sector continues its comeback, with PMI indicators rising for the fifth straight month in September. But, global crude supply concerns persist as Hurricane Delta sweeps across the Gulf of Mexico, halting platform output, while Norwegian oil firms prepare to enter formal talks with unions over the strike action. And a grim day in Europe as many countries experience record infections. The World Health Organisation reports almost 97,000 new cases in the region, driving the global rate to another all-time high.See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

Kamala Harris faces off with Mike Pence in the Vice Presidential Debate. The Senator accuses President Trump of the 'greatest failure in American history' in his Covid-19 response, but Mike Pence says Democrats are excessively pessimistic. Meanwhile hopes of a skinny stimulus package from the White House, helps the Dow rally more than 500 points to post its best day since July. In Europe, infections continue to rise with France reporting a new all-time high for coronavirus cases, as 19,000 people test positive over the last 24 hours. President Macron warns new restrictions will be put in place. Over 500 people are admitted to hospital in the UK as the infection rate doubles in a week, with Prime Minister Boris Johnson defending his local lockdown strategy. And in corporate news: Samsung says third quarter profit likely rose almost 60 percent driven by demand for devices and increasing chip orders.See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

President Trump cancels stimulus talks until after the election, triggering a Wall Street sell-off. Bridgewater founder Ray Dalio tells CNBC that the move could be damaging to the U.S. economy. Instead, Trump urges lawmakers to focus on passing Judge Amy Coney Barrett’s Supreme Court nomination. He also vows to take part in next week’s presidential debate, but Democrat rival Joe Biden voices concerns the President could still be contagious following his Covid-19 hospitalisation. We hear from IMF Managing Director Kristalina Georgieva who says the global GDP outlook will be upgraded but warns of a difficult recovery ahead. And in energy news, crude prices are hit by U.S. virus stimulus talks stalling while supply is threatened by an extended offshore workers’ strike in Norway and the potential shutdown of Gulf of Mexico platforms ahead of Hurricane Delta.   See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.