Global Stock Market Dips
In the United States, both the Dow Jones Industrial Average and the S&P 500 Index have dropped throughout the week. This led to a fall of 3.43% for the Dow Jones, while the S&P 500 followed just behind with the market slipping by 3.53% on October 28. In the meantime, markets all across Europe also were tripped up, with the FTSE 100 falling by 2.55% to reach a sixth-month low after a slow recovery process taking place before this. Similar falloffs can be seen in France and Germany as well, with the CAC 40 and DAX also dipped by 3.37% and 4.17%, respectively. This can all be seen as a direct response from the market to the news of COVID-19 cases making major rises in the United States and Europe heading into the winter. In countries such as France and Germany, the rise in cases has led to major discussions of further lockdown measures to help curb virus cases once again. Uncertain futures for major business centers and the lack of public consumer money being spent could be leading to an abrupt halt in the economic recovery process that the globe is currently trying to sustain going into 2021. While this news is certainly not positive, there are still businesses and companies that are growing and moving upward despite the overall markets dipping. In fact, there are companies across all of the markets mentioned that are bucking the dips as best they can, leading to stock gains instead of losses.
Companies and Stocks Moving Up
In the United States, these gains can be seen in social media companies and alternative energy. Pinterest posted an incredibly impressive earnings report, blowing analyst expectations out of the water. The company earned $272 billion in revenues as opposed to a projected $250.7 million. This cut their losses per share in half and has led to the company increasing over 30% in aftermarket trading. First Solar had a similar story, crushing analyst expectations on their quarterly report leading to an over 13% jump in their share prices. On the FTSE, clothing and homeware company, Next Plc saw moderate gains on the day, which added to their impressive nearly 25% gain in share prices over the past three months. Moving over to the DAX, food delivery service, Delivery Hero, has been the big winner of the year so far, jumping 4.70% on the day and over 40% year-to-date. These businesses have been taking as much advantage of their services and products as possible in 2020 — a reassuring sign considering the overall dips seen in response to the pandemic continuing to slag on.
The global stock markets falling have been indicative of the mixed responses across the world to contain the spread of COVID-19. Many different companies and investors are fearful of future outlooks unless treatment and vaccine news or severe decreases in cases happens soon. However, that isn't to suggest that there are not companies who are still succeeding despite these difficult situations. Across every market in this receding economy, there are signs of life for a variety of different types of businesses showing that there are still small silver lines to the overall dips that will most likely come in waves just as virus cases do until more medical developments occur.
About the Author
Tom Price is a writer focusing on Entertainment and Sports Features. He has a degree from NYU in English with a minor in Creative Writing. He has been previously published for Washington Square News, Dignitas, CBR, and Numbers on the Boards.