LONDON (Reuters – Karin Strohecker gives a look at the next day.

On Thursday, the mood is somber in markets

The Chinese property sector is booming. Investors wonder how the Chinese economy will fare if China Evergrande Group defaults on its debts.

Evergrande shares plunged by double digits after the company scrapped plans to sell its stake in its property business group. However, it did secure an extension to a defaulted bond.

Add to this, the resurgence COVID-19 is leading to new curbs. Russia has been suffering record-breaking deaths. There have also been reports of COVID-19 infection with a variant of coronavirus believed to be more contagious that the Delta.

According to Poland’s health minister, there is an explosion in cases and may need to take drastic measures. Meanwhile, Latvia begins its lockdown from today to mid-November to stop an increase in infection rates.

U.S. stock futures show more trouble ahead of them later today.

A few new earnings results can soothe some nerves.

Unilever (NYSE 🙂 and Hermes sales beat expectations, Volvo profits beat forecasts, truck maker Volvo profits beats estimates. However, companies still have concerns about lingering chips problems.

Barclays (LON) Q3 surpasses all expectations due to strong performance by investment banks, Anglo American (LON:) Q3 production inches higher.

Earnings highlights in the U.S. to come today are Intel (NASDAQ:), AT&T (NYSE:) and Danaher (NYSE:).

Turkey’s central banking will play a major role in the emerging market. After President Tayyip Erdogan’s midnight reshuffle, the central bank of Turkey is expected to announce another rate cut. However, inflation remains stubbornly high.

The following are key developments which should give direction to the markets on Thursday

-EU starts two day summit

-NATO defense ministers meet

-US initial jobless claims/Philly Fed indicator/existing home sales

-U.S. 5-year TIPS auction

San Francisco President Mary Daly will be the Fed speaker

– Emerging markets: Ukraine, Turkey central banks

-U.S. earnings: AT&T, Blackstone (NYSE:), Dow, American airlines, Southwest airlines, Alaska Air (NYSE :), Intel Whirlpool.