Here are the most important news, trends and analysis that investors need to start their trading day:
1. Trump slams the Covid stimulus bill
US President Donald Trump signs as he departs on the South Lawn of the White House December 12, 2020 in Washington, DC.
Al Drago | Getty Images
President Donald Trump denounced the $ 900 billion Covid relief bill passed by Congress, calling it an inappropriate “shame” in a tweet Tuesday night. He urged lawmakers to make a number of changes to the measure, particularly the amount allocated for direct payments to Americans.
Trump did not threaten a veto and was expected to sign the bill, along with the bill to keep government open. The legislation was passed by both houses of Congress with veto-proof majorities.
In a surprising gesture, House Speaker Nancy Pelosi said she agreed with Trump’s call for $ 2,000 payments to Americans. “Democrats are prepared to take this to the floor this week by unanimous consent. Let’s do it! she tweeted.
2. Markets Shake Stimulus Saga, Futures Rise
Traders work on the floor of the New York Stock Exchange.
The market appears to be ignoring the risk of Trump delaying passage of the much-needed coronavirus relief package. Futures contracts linked to the Dow Jones Industrial Average rose around 50 points, implying an opening gain of around 60 points. Futures on S&P 500 climbed 0.2% and futures on Nasdaq 100 were flat.
The S&P 500 just posted a three-day losing streak as some investors sought to lock in profits after an unexpected year of solid gains. The broader equity benchmark is up over 14% with six trading days remaining in 2020.
3. Pfizer concludes agreement to provide additional vaccine doses
A healthcare worker shoots the coronavirus disease (COVID-19) vaccine into a vial at Dignity Health Glendale Memorial Hospital and Health Center in Glendale, Calif., December 17, 2020.
Lucy Nicholson | Reuters
Pfizer and BioNTech announced a second agreement with the US government on Wednesday to provide an additional 100 million doses of their jointly developed Covid-19 vaccine. The deal brings the total number of doses to 200 million, which will be delivered to the United States by the end of July. The government pays $ 1.95 billion for the extra doses.
Pfizer shares gained about 1% on Wednesday in pre-market.
4. Trump grants pardons to 15 people
U.S. President Donald Trump waves as he walks the South Lawn of the White House upon his return to Washington from Camp David on November 29, 2020.
Yuri Gripas | Reuters
Trump pardoned 15 people on Tuesday, including two men convicted in the investigation of Special Counsel Robert Mueller and four former Blackwater USA guards who were convicted of the murder of 14 unarmed Iraqi civilians in Baghdad in 2007 .
Other people who received pardons included two former Republican congressmen who admitted to committing financial crimes. Trump has also commuted some or all of the criminal sentences of five other people as the president faces his final month in office.
5. Elon Musk Says Tim Cook Refused To Meet On Tesla Acquisition
Elon Musk revealed he contacted Apple to sell Tesla years ago, but CEO Tim Cook declined the meeting.
“During the darker days of the Model 3 program, I reached out to Tim Cook to discuss the possibility of Apple acquiring Tesla (for 1/10 of our current value). He declined to participate in the meeting,” he said. Musk said in a tweet Tuesday. .
His comment came after Reuters reported that Apple was moving ahead with its automotive efforts to target 2024 for the production of an autonomous vehicle with its lithium iron phosphate batteries.
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