Dow finished down 184 (below 30K & at session low), decliners over advancers 3-2 but NAZ went up 62. The MLP index gave back 4+ to 147 & the REIT index fell 2+ to the 363s. Junk bond funds were mixed & Treasuries hardly budged in price. Oil climbed towards 47 (a 9 month high) & gold sank 14 to 1828 (more on 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)
Health & Human Services Secretary Alex Azar celebrated the firxt vaccination of a New York health care worker with the Pfizer (PFE)-BioNTech (BNTX) coronavirus vaccine candidate today, saying it's "the American people's vaccine." "We'll have about 20 million doses available to use for vaccination by the end of December. We'll get a total of 50 million people vaccinated by the end of January," Azar said. "It’s the American people’s vaccine thanks to the leadership of President Donald Trump, and what matters this week is getting our frontline health care workers protected and getting our most vulnerable senior citizens protected," he continued. It's possible the US could have 4 coronavirus vaccines with FDA approval by Feb or Mar as Moderna (MRNA), Johnson & Johnson (JNJ), a Dow stock & a Dividend Aristocrat, & AstraZeneca (AZN) approach the finish line, Azar added. "That’s the genius of Operation Warp Speed," Azar said. "We spread our bets around not just multiple companies, but multiple platforms, technologies of vaccines. Moderna (MRNA), which we're incredibly excited about, if everything's on track, we could see approval this week." The Food & Drug Administration (FDA) Fri formally granted emergency approval for Pfizer & BioNTech's coronavirus vaccine candidate, officially paving the way for widespread distribution of the long-awaited vaccine. The first doses sere administered today.
Azar celebrates major accomplishment of first US coronavirus vaccinations
US officials plan to ship just under 6M doses of MRNA's Covid-19 vaccine once the FDA issues an approval for emergency use, which could come as early as Fri. Medical supply company McKesson (MCK) will obtain the doses for packaging & distribution to 3285 sites across the country, Gen Gustave Perna, who oversees logistics for Pres Trump's vaccine program Operation Warp Speed, said. FedEX (FDX) & UPS (UPS) will be responsible for sending the doses to their final locations, he added. The vaccine requires 2 doses 4 weeks apart. The initial shipments of the vaccine are more than double the 2.9M doses the US prepared to ship for PFE's vaccine. “The difference in quantities was about what was available when we were doing planning for initial delivery,” he added. “As early as 15th [of] November, I snapped the chalk line on what was available to Pfizer so states could do the planning ...We wanted them to have enough time as possible to do the planning and realize where they wanted to go first.”
U.S. plans to ship 6 million Moderna Covid vaccine doses once FDA gives OK
Congressional efforts to fund state & local distribution of the Covid-19 vaccine continued to hang in the balance today even as the first doses of Pfizer’s pioneering inoculation were being administered. Lawmakers have yet to agree to a funding package to help health depts with the unprecedented vaccination campaign, despite bipartisan agreement that Bs of $s are needed. Negotiations over the funding have been tied to stalled talks over potential bills that would provide economic relief to Ms of Americans who have suffered as a result of the coronavirus-related financial crisis. Those talks, which seemed to be inching forward in recent weeks, have taken on a new urgency as the Christmas holiday approaches & the reality of viable Covid-19 vaccines has set in. But it still wasn't clear, as the week kicked off, whether Congress would make substantial progress toward passing its first major Covid-19 relief package since the $2.2T CARES Act was approved in Mar. The latest plan, part of a $908B rescue bill put forward by a bipartisan slate of lawmakers, would allocate $6B for distribution efforts. Lawmakers were expected to release text of the legislation today. The $6B price tag is in line with requests from the Trump administration, though it is sharply lower than what groups representing health departments say is needed. Funding for vaccine distribution ia at stake in the push for a new Covid relief bill.
Funding for vaccine distribution at stake in the push for a new Covid relief bill
Gold futures fell Mon as a rollout of the a COVID-19 vaccine in the US & doubts about another round of relief aid out of Congress prompted the precious metal to mark its lowest settlement in almost 2 weeks. Gold's slide comes ahead of the last meeting of the year for the Federal Reserve, which could also serve as a catalyst for commodities & financial markets broadly. Feb gold lost $11 (0.6%) to settle at $1832 an ounce after edging up by 0.2% last week. The settlement was the lowest for a most-active contract since Dec 2. Separately, a report said that Senate & House lawmakers are nearing a compromise on coronavirus fiscal aid that strips out $160B of state & local aid & liability protections into a separate package, to achieve a deal before year-end. There are still doubts about a pact coming to fruition. Investors were also watching Brexit developments after UK Prime Minister Boris Johnson & European Commission Pres Ursula von der Leyen agreed yesterday to scrap a deadline & go “the extra mile” to reach a post-Brexit trade deal. In the US, the Fed will make its monetary policy announcement Wed.
Gold prices settle at a nearly nearly 2-week low on U.S. coronavirus vaccine rollout
Oil futures climbed to their highest finish in 9 months, finding support from the US COVID-19 vaccine rollout, but a lower demand outlook from OPEC tempered the price climb. Efforts began over the weekend to roll out the COVID-19 vaccine developed by PFE & BNTX, after its emergency authorization by the FDQ late Fri. Oil futures climbed to their highest finish in 9 months, finding support from the US COVID-19 vaccine rollout, but a lower demand outlook from OPEC tempered the price climb. West Texas Intermediate crude for Jan rose 42¢ (0.9%) to settle at $46.99 a barrel. Feb Brent crude added 32¢ (0.6%) at $50.29 a barrel. Both WTI & Brent crude futures marked their highest settlements since early Mar. Reports of an explosion on an oil tanker docked at the Saudi Arabian port of Jeddah also contributed support for prices today.
There was a lot of excitement about the vaccine, but that faded during the trading session. The sellers took over & took the Dow into the red, although demand continued for tech stocks on NAZ. All eyes are on DC to see the new stimulus. As usual, it will heavily influenced by politics.Dow Jones Industrials
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