Today, December 14…
The DJIA fell 0.62% after reaching an intraday record
The S&P 500 fell 0.49%.
The Nasdaq Composite was up 0.50%.
General Market Recap
The US has reached a total of 16 million Covid cases, as fears rise over states setting restrictions and possible full shutdowns. Pfizer-BioNTech vaccine rollout began today, and reportedly, about 3 million doses have already been transported. Most sectors that are expected to benefit from the vaccine rollout news were trading in the red. Energy fell over 3% as oil prices also were down due to OPEC lowering its 2021 growth forecast down by 350,000 barrels/day, to 5.9 million barrels/day in oil demand. After finding more defects in the new 787 Dreamliner jets, Boeing expanded their inspections. Reportedly, the FTC will launch a broad inquiry into privacy and data collection practices of big tech firms after Facebook was recently charged with alleged antitrust violations. Tech stocks ended mixed with Facebook and Microsoft closing in the green and Alphabet and Apple closing in the red. Airbnb fell 7% due to the stock being downgraded to an underperform rating.
Stimulus Update
Lawmakers have suggested splitting the $908 billion stimulus bill. The split would include a bipartisan supported $748 billion bill for unemployment benefits and vaccine distribution aid and another $160 billion bill for temporary coronavirus liability protection and state and local government support. Investors are excited over expectations that any stimulus will be delivered by Friday.
Some Earnings Today and Tomorrow
Vince
CooTek
MTS
