5 issues it is best to know earlier than the inventory market opens on December 8, 2020
Here are the top news, trends, and analysis investors need to get their trading day started:
1. Dow will fall for the second day after Friday’s record
Traders work on the trading floor of the New York Stock Exchange.
The Dow was set to fall upon Tuesday’s open, the day after the 30-stock average lost 148 points on concerns over spikes in coronavirus cases and uncertainty about fresh impetus from Washington. Monday’s Dow decline ended a four-session winning streak, including a record high on Friday. The S&P 500 fell on Monday from Friday’s record close. However, the Nasdaq rose on Monday for another record close. Red-hot Tesla shares fell 1% in premarket trading after the electric automaker announced plans for a $ 5 billion capital increase on Tuesday. It’s the second such move in three months that Tesla seeks to capitalize on its meteoric stock rally of more than 650% this year. The stocks hit another intraday all-time Monday.
2. According to the FDA, the data from the Pfizer Covid vaccine study did not raise any safety concerns
Vials containing the BNT162b2 vaccine candidate for coronavirus disease (COVID-19) are sorted in an undated still image from a video at a Pfizer facility in Puurs, Belgium.
Pfizer | Reuters
Two days before the FDA’s Vaccine Committee meets to review the Pfizer-BioNTech Covid-19 candidate for emergency use approval, the agency released a document Tuesday evaluating the companies’ clinical trial data. The FDA said the data did not raise any safety concerns. James Hildreth, a member of the committee, told NBC News that approval could come as early as Friday. A week after Thursday’s meeting, the FDA committee will review Moderna’s coronavirus vaccine, which has also been shown to be more than 90% effective. Both vaccines use a new approach to vaccination, which uses genetic material to trigger an immune response.
3. The UK has started giving Pfizer vaccines to the public following last week’s emergency clearance
Margaret Keenan, 90, is the first patient in the UK to receive the Pfizer / BioNtech covid-19 vaccine at University Hospital in Coventry.
Pool | Getty Images News | Getty Images
The UK began making the Pfizer BioNTech vaccine available to the public on Tuesday. Ninety-year-old Margaret Keenan made history as the first person in the world to receive the Pfizer BioNTech vaccine outside of the trial conditions. The vaccine was approved by the UK drug authorities last week. It is given to the forefront of healthcare, home care and people over the age of 80 before it becomes more widespread among the UK population. The UK has also pre-ordered other Covid-19 vaccine candidates from companies like Moderna, but these have not yet been approved.
4. Trump to hold a “vaccination summit” and sign an executive order
United States President Donald Trump speaks during a ceremony to award the Presidential Medal of Freedom to retired soccer coach Lou Holtz in the Oval Office of the White House in Washington, USA, on December 3, 2020.
Jonathan Ernst | Reuters
5. Legislators hope to gain more time to reach a Covid stimulus bill
The U.S. Capitol building after a rainstorm on Capitol Hill in Washington, December 4, 2020.
Tom Brenner | Reuters
Legislature on Capitol Hill plans to extend federal government funding, which will expire on Saturday, for another week. They hope to buy more time to bring together a fund-spending deal and coronavirus stimulation deal. Known sticking points, however, surfaced as a non-partisan group tries to put the finishing touches to legislation they hope will serve as the blueprint for a $ 908 billion year-end bailout. If incentives are not responded to before the end of the year, millions of Americans will be in greater financial danger. If there is no further response to the spending, the government will be shut down.
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