Sep 14 2020 0

On the first day of the week, we should check out the latest events around the world to know where the market is heading.

SoftBank’s negotiations

SoftBank Group is set to restart negotiations on going private after reaching an agreement to sell chip maker Arm. The Japanese conglomerate's senior executives will revisit the management buyout plan, which has already been met with internal opposition. SoftBank will soon announce the sale of Arm to Nvidia.

forex news September 14

Those familiar with the deal told Bloomberg on Saturday that the stock and cash deal is expected to cost Arm around $40 billion. Discussions on private holding companies worth more than $115 billion are in the early stages and may not come to a transaction. Because one of the people with the information said SoftBank's senior management had different views on this plan, and many veterans objected to this idea.

A buy off

Gilead Sciences will acquire Immunomedics for about $21 billion to supplement breast cancer treatments. The deal will price Immunomedics more than double the value of breast cancer drug maker Trodelvy on Friday. Pharmaceutical companies have been coveted by Immunomedics since the Food and Drug Administration unexpectedly sped up Trodelvy's approval in April, after a study found the drug beat breast cancer. tripled in almost 4 months compared with chemotherapy in patients taking the drug as the third step of treatment. The disease is difficult to treat and does not respond to many current treatment regimens. Immunomedics plans to apply for full drug approval by the end of this year. Immunomedics has a market cap of $9.8 billion after its shares have nearly doubled this year. Gilead was valued at $82.2 billion on Friday. Its stock has remained largely unchanged for the year.

Market on Monday

Stocks kicked off the new week cautiously as investors reassessed valuations amid slippery tech giants and toward the Federal Reserve's policy meeting could supply Level clues about the market outlook. S&P 500 index futures open stronger in Asia. The dollar rose sharply. The money market saw quiet moves as trading commenced on Monday. Global equities are experiencing the first consecutive weeks of declines since March, with the mixed kickoff of Asian futures markets. September was followed by a riot - the tranquility that had emerged for most of the previous five months, with leading technology stocks losing money. This week, with the possibility that the Fed is expected to maintain a dovish policy stance, investors will continue to watch for signs that the global economy is recovering from a pandemic. Oil prices are less volatile.

The decision of ByteDance

TikTok's parent company ByteDance has decided not to sell or transfer the algorithm behind the video-sharing app in any of the acquisitions or divestments, South China Morning Post reported, citing a source. summary of discussions in the Chinese corporate meeting room. The company will not provide the source code behind the social media platform, but its US-based tech team will be free to develop a new algorithm, the newspaper added that these will be conditions for the sale of corporate assets in the United States. ByteDance and TikTok did not immediately respond to the newspaper's request for comment. In another development, Fox reporter Charles Gasparino tweeted on Sunday that any TikTok deal will likely require the emergence of talks between the US government and its Chinese counterpart to arrive at success.

forex news September 14

About the outbreak

Coronavirus infections in the United States increased at a steady rate as the country approached the 200,000 Covid-19 mark. The Pfizer executive said it is likely that the US will roll out the vaccine by the end of this year. Israel's cabinet has supported a second national blockade, which will begin on Friday, at the end of the Jewish holiday season. Rallies in the UK will be restricted from Monday after more than 3,000 new cases are recorded for three consecutive days. Europe has received warnings about the difficult coming months from Austria, where new infections reached highs last seen in March. In contrast, South Korea is loosening its social distance rules after infections slow down.


Fanara Filippo

Hey, I’m Fanara Filippo. I’m the founder of this site. I'm currently living in Bangkok, Thailand. I have been trading forex for more than 5 years. You can read my articles about the best forex brokers on this page. Let’s review brokers today.

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