Energy Investing - United States : Market Reflections - Energy Investing - InvestorVillage
This is a semi-private group. You are free to browse messages, but you must be a member of this group to post messages. Join This Group

Group: Energy Investing   /  Message Board  /  Read Message

 
 






Keyword
Subject
Between
and
Rec'd By
Authored By
Minimum Recs
  
Previous Message  Next Message   Post Message   Post a Reply return to message boardtop of board
Msg  299249 of 306391  at  12/1/2020 6:18:52 PM  by

Tetra


United States : Market Reflections

 
powered by econoday logoU.S. & Intl Recaps | Event Definitions | Today's Calendar |

United States : Market Reflections

Highlights
December 1, 2020
Renewed hopes for a US fiscal stimulus deal gave equities a lift Tuesday, along with positive vaccine news. The Dow Jones industrial index rose 0.6 percent, the S&P 500 gained 1.1 percent, and the NASDAQ 100 gained 1.3 percent. NYMEX WTI crude oil prices declined, the dollar fell, and US Treasury yields surged.

Negotiations over a fiscal package showed signs of resuming Tuesday in Washington, D.C. A bipartisan group was reportedly set to unveil a new spending package, and Treasury Secretary Steven Mnuchin and House Speaker Nancy Pelosi were talking as well. The fiscal hopes added to optimism over rollout of vaccines by year end, which has fueled expectations for a wider recovery by the second half of 2021.

Markets reacted favorably to news that BioNtech and Pfizer had asked European authorities to approve use of their Covid-19 vaccine, after a similar request to US authorities. A strong reading in Chinese PMI manufacturing data added to recovery hopes, and gave trade-sensitive sectors a lift.

In US economic news, the ISM manufacturing composite index came in very near expectations at a very solid score of 57.5, yet employment went into reverse, falling nearly 5 points to a sub-50 score of 48.4 that indicates net contraction in staffing. Separately, construction spending rose a higher-than-expected 1.3 percent in October for year-over-over growth of 3.7 percent. Relative to the pre-pandemic month of February, headline spending is nearly even, down only 0.2 percent.


Legal Notices | ©Copyright 1998-2020 Econoday, Inc. powered by [Econoday]
 


     e-mail to a friend      printer-friendly     add to library      
| More
Recs: 0     Views: 0
Previous Message  Next Message   Post Message   Post a Reply return to message boardtop of board








Financial Market Data provided by
.
Loading...