With new data and corporate financial data showing that the U.S. economy and companies are still rebounding from the abyss of the coronavirus crisis, the Wall Street stock market is further entering uncharted territory.

According to data from Goldman Sachs, the S&P 500 index has generated a return including 27% of dividends so far this year, as the blue chip index hit a record high in more than 60 trading days.

Last week alone, the US stock market rose by 2%, which is its best performance since June. After Pfizer announced on Friday that its antiviral drug had successfully reduced the rate of hospitalization caused by Covid-19 by 90%, companies such as airlines, cruise operators and casinos that were hit during the pandemic rose.

Evidence that the US economy is getting rid of the downturn caused by the pandemic has further boosted sentiment. The latest monthly employment report shows that after months of weak growth, employment growth in almost all industries is picking up. Over 500,000 jobs were created in October and the unemployment rate fell to 4.6%, a move that exceeded economists’ expectations.

Read more about the U.S. market here.

data: Singapore releases current account and trade data, Malaysia releases foreign exchange reserves data, and Taiwan releases trade balance.

income: Earnings announced today include Japanese investment group SoftBank. The company reported a net profit of 761.51 billion yen (US$6.9 billion) for the June quarter. This is down 39% from the previous year, when it benefited from the merger of US carriers Sprint and T-Mobile, but it was ahead of analysts’ forecast of a net loss of ¥11.8b.

APEC: The APEC Ministerial Summit opens.Although officially hosted by New Zealand, the party will be held entirely online

China: The Central Committee of the Communist Party of China held the Sixth Plenary Session of the Central Committee in Beijing to determine China’s agenda. This meeting will clear the way for President Xi Jinping to win an unprecedented third term at the party’s 20th National Congress next year.

The French authorities’ investigation into the business empire of Sanjeev Gupta deepened the challenges faced by the British metal giant, once known as the “savior of steel.”

The Paris Public Prosecutor’s Office told the Financial Times that it is investigating Gupta’s French operations on allegations of “abuse of company assets” and “money laundering”.

France owns several important assets in the GFG Alliance, a collection of factories and smelters accumulated by Gupta in the multi-billion dollar acquisition spree funded by Greensill Capital. The closure of Greensill in March put GFG into a crisis and triggered investigations by the German and British Office of Serious Fraud.

The Paris prosecutor stated that they launched an investigation in July after public officials reported suspicious activity. They declined to provide details of the investigation.

GFG stated that it “was not aware of any such investigations and dismissed any suggestion of improper conduct in its French operations”.

Read more about the survey here.

Elon Musk asked Twitter users over the weekend to decide whether he should sell Tesla shares worth more than $20 billion and pay taxes-the online crowd responded with a resounding “yes.”

Musk is obviously willing to cash out one-tenth of his stock and pay more than $4 billion in tax bills according to Twittersphere’s wishes. This is after the United States proposed that billionaires should pay taxes on their unrealized capital gains. He warned last month that one day any new tax would be extended to the middle class. He wrote on Twitter: “In the end, they run out of other people’s money, and then they come to you,” he wrote on Twitter. .

Let the public decide whether he should sell Tesla stock on a large scale for the first time. This gimmick delighted Musk’s fans and made him the most followed business leader on Twitter, with 62.7 million followers and many critics. .

“Whether the richest person in the world pays any taxes shouldn’t depend on the results of the Twitter polls,” said Ron Wyden, the Democratic chairman of the Senate Finance Committee, before the voting results were announced. Wyden proposed a new tax on the unrealized capital gains of billionaires, which would hit the 700 richest people in the United States.

Read more about Elon Musk is here.

According to people familiar with the matter, the radical hedge fund Third Point has taken a stake in the Swiss luxury goods group Richemont, which owns watch and jewelry brands Cartier and Van Cleef & Arpels.

A person familiar with the matter said that the US-based fund Artisan Partners has been a shareholder of Richemont Group for many years, owning about 1.2% of the shares, and has been urging the group to improve its performance.

Third Point did not respond to a request for comment, and Artisan could not immediately be reached for comment. Richemont Group, which will announce its half-year results on Friday, declined to comment.

Richemont’s radical movement will have to contend with the powerful chairman, Johann Rupert, who has long developed strategies and selected managers for the 26 brands belonging to the group. Although the South African businessman only owns 9.1% of the capital, he controls 50% of the voting rights under a dual-shareholding structure.

Critics argue that Richemont has not kept up with competitors during the decade-long boom of the luxury goods industry, driven mainly by Chinese consumers. Its market value has increased by 79% in the past five years, while the market value of LVMH and Hermès has almost quadrupled.

Read more about Richemont acquisition is here.