US Airline companies, American Airlines (NASDAQ: AAL) and Southwest Airlines (NYSE: LUV) reported third-quarter financial results on Thursday. Both the airline company shares closed higher on Thursday after narrower than expected earnings. American Airlines' stock climbed 3% higher while Southwest Airlines shares surged more than 5%.
The electric car maker Tesla (NASDAQ: TSLA) reported its fifth consecutive quarterly profit on Wednesday, with revenue of US$8.8 billion. Tesla delivered 139,300 vehicles this quarter, beating the company’s previous record of 112,000 vehicle deliveries in the fourth quarter of 2019.
US dollar edged lower amid rising hopes for the United States would conclude a new stimulus package. The next stimulus agreement could be worth up to $2 trillion and contain more direct payments to U.S. individuals and families. US House Speaker Nancy Pelosi said she remains hopeful of a stimulus agreement this week after speaking with Treasury Secretary Steven Mnuchin on Tuesday. Meanwhile, US President Trump said, “I want to do it even bigger than the Democrats,”
Global markets are trading mixed on Tuesday as investors are concerned about the increasing number of COVID infections. Ireland and Wales became the first countries on the continent to re-enter lockdown as the number of people who have died from Covid-19 in Europe passed 250,000.
The National Bureau of Statistics data showed on Monday China's gross domestic product (GDP) expanded 4.9 percent year on year in the third quarter of 2020, that’s lower than economists forecast, but faster than the 3.2% expansion seen in the second quarter. Meanwhile, the retail sales grew 3.3 percent year on year in September, versus a 0.5 percent growth in August. China's industrial output in September rose 6.9% from a year earlier, data shows, up from a 5.6% gain in August.