Glimmers of hope at the end of the tunnel for the global economy.
The month of October was quite rough for most investors as a result of the uncertain outcome of the US elections, the US fiscal stimulus package deadlock, and the announcement of new lockdowns in various European countries (Germany, France, the UK, etc.) due to the recent surge in cases of COVID-19. Despite the positive news that as of the 30th of October, 64% of the S&P 500 companies reported earnings with 86% having performed above Wall Street estimates, the market outlook for November was nothing but a large question mark for most investors.
At EyePerformance, although we acknowledged the severity of the political and economic situations, we suggested in our October Market View that a somewhat gloomy scenario was already priced in equity markets and that November should bring positive (if any) surprises for investors on different fronts. And so, they came along