Dow added 59, advancers over decliners 3-2 & NAZ was off 5. The MLP index jumped 4+ to the 141s & the REIT index fell 3+ to the 367s. Junk bond funds were mixed & Treasuries continued weak. Oil remained above 34 & gold advanced 13 to 1832 (more in both below).
AMJ (Alerian MLP Index tracking fund)
![Live 24 hours gold chart [Kitco Inc.]](https://www.kitco.com/images/live/gold.gif?0.2180338269244485)
Dem & Rep party leaders in the Senate are at odds over the aid they would give unemployed Americans in any upcoming coronavirus relief package, according to outlines of their legislative proposals. Their positions, which have endured despite months of negotiations over the contours of more stimulus, suggest it may be hard to reach a compromise. Meanwhile, key aid programs for the jobless are set to expire by the end of Dec. That would leave Ms without unemployment benefits at the same time that protections for renters & student-loan borrowers would end.
McConnell, Schumer far apart on unemployment benefits, stimulus proposals
The UK became the first Western nation to grant emergency-use authorization for a COVID-19 vaccine, clearing a shot developed by Pfizer (PFE) of the US &
BioNTech (BNTX) of Germany to be distributed in limited numbers within days. The 2-shot
vaccine is also being reviewed by the Food & Drug Administration (FDA) in the US, where a similar authorization could come later this month & a rollout before the end of the year. The UK green light punctuates a monthslong sprint by the 2 drugmakers, which teamed up earlier this year &
then pulled ahead of 2 other Western pharmaceutical giants, each with
its own promising shot. Vaccines typically take years to bring to
market. It also marks a key milestone in efforts to translate a
promising new vaccine technology into a widely available shot. It was
developed, tested, authorized & is now poised to be distributed amid a
pandemic that has sickened tens of Ms of people. The
UK has ordered 40M doses, enough to vaccinate 20M
people. The gov said in early Nov it expected to receive 10M doses before year-end. People familiar with the matter said the
US might only get 4-5M does this year, but the
number is in flux & will depend on production & other potential
regulatory authorizations. PFE stock climbed 1.38 & BNTX gained 7.08.
If you would like to learn more about PFE, click on this link:
club.ino.com/trend/analysis/stock/PFE?a_aid=CD3289&a_bid=6ae5b6f7
If you would like to learn more about BNTX, click on this link:
club.ino.com/trend/analysis/stock/BNTX?a_aid=CD3289&a_bid=6ae5b6f7
Pfizer and BioNTech’s Covid-19 vaccine wins UK authorization -- first in the West
Gold futures ended higher for a 2nd straight session, with bullion buoyed by the revival of talks on a new US coronavirus relief package, even as a rise in Treasury yields looks to offset the metal's price gains. Bullish buyers have also made the case that physical gold tends to be bought during the holiday period between Nov & Dec which is helping to buck up prices in recent trade. The House Majority Leader, Steny Hoyer, said he hopes to see a deal on another coronavirus fiscal stimulus package worked out in principle as soon as this weekend. Feb gold climbed by $11 (0.6%) to settle at $1830 an ounce, the highest for a most-active contract since Nov 23. Prices for the metal surged 2.1% yesterday & marked its biggest one-day climb in 3 weeks after prices on Mon had touched their lowest settlement since Jul 1. Gold prices briefly added slightly to the day’s move up after a reading from Automatic Data Processing showed a rise of 307K US private-sector jobs in Nov, below forecast for 420K jobs. Gold's more than 2% rise yesterday came as the $ sank to its lowest level in 3 years.
Gold posts a second straight gain, buoyed by hopes for another U.S. fiscal stimulus package
Oil futures finished higher as reports suggested that OPEC & allies will announce an agreement to extend current
production cuts into the new year. Meanwhile, with the UK approving a COVID-19 vaccine & reports that House Speaker Nancy Pelosi & Treasury Secretary Steve Mnuchin held
discussions on a coronavirus stimulus package. Jan West Texas Intermediate crude rose 73¢ (1.6%) to settle at $45.28 a barrel.
Oil futures settle higher with OPEC+ expected to reach a deal to extend current output cuts
Dow Jones Industrials
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