The EGX30 fell 0.2% yesterday on turnover of EGP 1.9 bn (31.9% above the 90-day average). Foreign investors were net sellers. The index is down -21.1% YTD.

In the green: Eastern Company (+4.9%), Export Development Bank of Egypt (+4.3%) and Dice (+4.3%).

In the red: Juhayna (-6.3%), Edita (-2.1%) and GB Auto (-2.1%).

Asian markets are mixed this morning: Chinese stocks fell slightly in early trading, while bourses in Japan, Korea and Australia are marginally in the green. Futures suggest equities in the UK and US will rise when they open later this morning while the German Dax will see red.

US stocks continue to ride high — while the real economy continues to falter. The S&P 500 closed at another record high yesterday as investors reacted positively to a slowdown in hiring in the hope that it could spur Democrats and Republicans to hurry up and agree a new stimulus package, Reuters reports.

This might be wishful thinking, considering Mitch McConnell is at the center of things. The Senate majority leader shot down a USD 908 bn bipartisan stimulus package brought by members of the GOP-controlled Senate and Democratic-held House, continuing the months of deadlock on an additional fiscal package, CNBC reports.

IMF head Kristalina Georgieva is wishing they would take the hint, warning again yesterday that governments have to act now if they are to rescue the global economy and avoid financial instability, according to the Financial Times. Speaking to the salmon-colored paper’s Martin Wolf, she called for investment in digital technology, infrastructure and the environment to avoid prolonging a crisis and wiping out USD 28 tn in global output over the next four years.