Global markets power back as Big Tech drowns out the coronavirus and GDP gloom

This is the web variation of the Bull Sheet, Fortune’s no-BS everyday newsletter on themarkets Sign as much as get it in your inbox here

Happy Friday, BullSheeters The U.S. futures look set to pop, closing out the week (and the month) on a high note. That’s thanks to the heroics of Big Tech.

Let’s check in on the action.

Markets upgrade

Asia

  • The significant indexes are mainly lower, with Japan’s Nikkei down more than 2% in afternoon trade.
  • In Apple’s outstanding incomes call the other day it singled out outstanding China results, with local incomes topping $ 9.3 billion and record iPad sales.
  • Chinese electrical automobile start-up Li Auto made its Nasdaq launching the other day and immediately skyrocketed 43% Its greatest backers are TikTok owner Bytedance and ecommerce group Meituan Dianping.

Europe

  • The European bourses remained in the green at the open– that’s in spite of a batch of rough GDP numbers
  • The German economy, the engine of the euro zone, shrunk by 101% in Q2, the worst displaying in half a century. That’s a quarter-over-quarter number, unlike the annualized procedure chosen in the U.S.
  • In a surprise announcement, the U.K. federal government reimposed lockdown procedures on Northern England, consisting of the Greater Manchester location, as coronavirus cases there climb up. It follows brand-new information programs …

Read The Full Article