U.S. futures and European equity markets are trading lower as traders react to economic numbers. The UK’s number plunged today and came well below the expected reading. The theme was similar for the European and PMI data released yesterday.
The U.S. data also confirmed that there are over 26 million people without any job because of the shutdown in the country. Traders hold deep concerns about the upcoming U.S. data that is due later today, the forecast is for -6.1%
The sentiment took another hit after the report confirmed that Gilead Science’s (NASDAQ:) medicine has failed to improve patients’ conditions yesterday. Gilead confirmed that it stopped its study because of low enrolment and the company was unable to conclude anything meaningful.
On the fiscal front, the U.S. House of Representatives passed the small business loan bill of $484 billion yesterday. The bill is mainly designed to save jobs in the small business sector. In…