Market summary 20th November
What has been going on in the market this week?
1. Pfizer’s vaccine news got everyone jumping for joy this week- well, that is, everyone but Zoom and the other stay-at-home tech stocks that fell.
2. E-commerce penetration is expected to grow by a whopping 30% in 2020 thanks to COVID-19, but this is only actually two years ahead of what analysts predicted.
3. The U.K. economy expanded 15.5% in the third quarter, a weaker pace than its peers in Europe.
4. The Trump administration granted ByteDance a 15-day extension of a divestiture order allowing a little bit more time for TikTok to be sold.
5. Costco is selling a $17.5k private jet membership that lasts 1 year showing the extent of the companies’ riches, and analysts predict that Costco Wholesale will submit a $9.62 EPS for the current year.
6. On Thursday, the International Energy Agency cut its forecast for global oil demand saying that it doesn’t expect demand to rise significantly till late 2021 despite Brent Crude, the international benchmark, up 8.11%.
