Oct 23 2020 0
Here are the latest updates of the financial world today, October 23.
Goldman Sachs fined
Goldman Sachs has acknowledged his role in the largest foreign bribery in US law enforcement history, reaching several international agreements to end investigations on raising funds for Malaysia named 1MDB. Goldman officials helped spread $1.6 billion in illegal payments across Malaysia and the Middle East as part of a plan to turn the proceeds raised for development projects into a wave of spending. international spending on luxury palaces and banquets. Currently, the new fine exceeds $5 billion, obtained by the authorities and regulators in the US, UK, Hong Kong and Singapore.
Polarized market
Bank stocks raised US stock prices as lawmakers in Washington continued to haggle over the spending bill. Asian stocks seem to be off to a mixed start as traders get ready for the final presidential debate. Futures markets rose higher in Japan, with little change in Hong Kong and Australia. The S&P 500 has previously overcome weekly declines as financial stocks rose nearly 2%. The yield on the 10-year Treasury note rose 0.84%, the highest level since June, amid data showing that the labor market is still slowly recovering. The dollar is getting stronger.
Reaching agreement
House Speaker Nancy Pelosi said she and Treasury Secretary Steven Mnuchin were "about to agree" on addressing a critical part of the coronavirus bailout. She said they were close to reaching agreement on how to allocate money for testing and traceability so they could safely reopen schools and the economy. However, they have yet to address three key points: Democrats' demand for aid to local and state governments, school funding, and Republican insistence on the shield of blame. responsibility for the employer. Pelosi and Mnuchin were scheduled to speak on the phone again Thursday afternoon, but by 4:00 pm in Washington, the call did not take place.
Ready for Remdesivir
On Thursday, the antiviral therapy by Gilead Sciences - Remdesivir became the first drug to be officially licensed by the FDA to treat coronavirus. Regulators granted emergency use to Remdesivir earlier this year, and it was handed over to President Donald Trump this month when he was diagnosed with the virus. Remdesivir's approval, sold under the brand name Veklury, could help cement its position as the right drug for Covid-19 patients even as other drugs begin to be available on the market. Meanwhile, the average 7-day American death rate on Wednesday hit its highest in a month, and the disease was on the rise in Europe.
Open for business
China's rapidly growing $157 billion market for ETFs will be directly accessible to foreign investors from Friday, at least four years since the plan was launched. first. Four ETFs called "feeders" will begin trading in Shenzhen and Hong Kong. Shenzhen funds will track the Hang Seng China Enterprise Index and the S&P New China Sectors Index, while Hong Kong-listed ETFs will track the standard CSI 300 Index and 5G companies' metrics. China. Melody He, chief executive officer at supplier CSOP Asset Management Ltd., said about 900 million yuan ($135 million) was collected during the pre-sale of ICBC trading ETFs., CSOP and S&P New China Sectors.
