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Dollar Pares Early Gains, Stock Market Moves Higher

Dollar Pares Early Gains, Stock Market Moves Higher

Information is not investment advice

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Midday Market View

Europe's economy is stalling again as rising numbers of Covid-19 infections interrupt the return to normal life. As a result, the stocks that benefited most from the first wave post-pandemic buying are getting a new lease of life. 

Midday Key Point

  • German cabinet reportedly approves 2021 draft budget, new debt of €96.2 billion
  • JP Morgan set to move €200 billion assets to Germany in Brexit shift
  • Eurozone September flash services PMI 47.6 vs 50.6 expected

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Cable climbs to fresh two-month high

US stock markets are set to open mixed as the post-Pfizer rally is reassessed, but cyclicals are still clearly outperforming the growth and momentum names that have notched the biggest gains during the pandemic.

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