United states celebrate Columbus Day - 12.10.2020

On Friday, US stocks rose for the third day in a row. The Dow Jones Industrial Average showed its maximum weekly rise in 2 months, and the Nasdaq - in 3 months. According to opinion polls from the Washington Post / ABC News, Democratic candidate Joe Biden is 12% ahead of Republican candidate Donald Trump ahead of the November 3rd presidential election. Democrats plan to increase economic assistance if they win. This can support the growth of stock prices. In addition, investors expect positive reports for the 2nd quarter from the largest US banks such as JPMorgan, Citigroup, Goldman Sachs, Bank of America and Morgan Stanley. The first publications will appear tomorrow. General Electric shares gained 3% on Friday due to good recommendations by the Goldman Sachs. This morning, US index futures are climbing alongside European stocks. Investors reacted positively to the reduction in the growth of new coronavirus cases in France and some other EU countries.

World oil prices are falling today for the 2nd day in a row. The main reason for this was the recovery of oil production in the Gulf of Mexico thanks to the weakening of Hurricane Delta, as well as the end of the Norwegian oil workers' strike. Both factors may increase the oil supply in the world market by 2 million barrels per day (bpd). In addition, OPEC predicts growth of oil production in Libya by 55 thousand bpd in October - up to 355 thousand bpd. Iraqi Oil Minister Ihsan Abdul Jabbar said that in his opinion, the price of oil this year will reach $41-42 per barrel and will rise to $45 per barrel in the first half of 2021.