5 issues it’s best to know earlier than the inventory market opens on December 14, 2020
Here are the top news, trends, and analysis investors need to get their trading day started:
1. Dow will open higher when Pfizer vaccine is introduced
Traders work on the trading floor of the New York Stock Exchange.
Dow futures indicated a gain of more than 200 points on Monday’s opening when Pfizer and BioNTech’s Covid-19 vaccine is rolled out in an emergency. First Monday vaccinations in the US are cumulative coronavirus deaths in America near 300,000, with the 7-day average of deaths being more than 2,400.
A non-partisan $ 908 billion proposal is expected to be split in two to reach an agreement on new economic incentives for Covid-19, according to a Reuters report. The first move would be a $ 748 billion package that includes small business money, an increase in federal unemployment benefits, and vaccine distribution. The second move would cover some of the key sticking points like corporate liability protection and $ 160 billion for state and local governments. According to Reuters, the packages could be released on Monday.
Economic uncertainty kept stocks in check last week as the Dow Jones Industrial Average, S&P 500 and Nasdaq all broke profit streaks for several weeks. President Donald Trump signed a week-long extension of state funds on Friday to avoid a partial federal shutdown and free up more time for economic talks.
2. Vaccine doses are shipped to the USA
Cardboard boxes containing the Pfizer-BioNTech COVID-19 vaccine are being prepared for shipment at the Pfizer Global Supply Kalamazoo manufacturing facility in Portage, Michigan, USA, on December 13, 2020.
Morry Gash | Reuters
The first of many freezer-packaged vials of Pfizer’s vaccine will be shipped to the US after the FDA granted emergency clearance on Friday, triggering government plans to distribute 2.9 million doses within 24 hours, followed by more 2.9 million doses 21 days later for patients to get their second shot. A key CDC panel unanimously voted on Saturday to recommend the vaccine for anyone ages 16 and older, and the agency’s director was quick to sign it. Pfizer plans to ship 50 million cans this year.
This creative image, captured in a studio in Paris on November 16, 2020, showing a syringe and vaccine bottle with the logo of a US biotech company Moderna reproduced, illustrates the announcement of an experimental vaccine against Covid-19 from Moderna, which is nearly complete would be 95% effective, a second important step forward in ending the Covid-19 pandemic.
Joel Saget | AFP | Getty Images
FDA Commissioner Dr. Stephen Hahn said Sunday that the agency will release its data on Moderna’s Covid-19 vaccine this week before Thursday’s advisory panel meeting to vote on whether to recommend it for an emergency. “I will not anticipate this discussion or our assessment of the data,” Hahn said during an interview on CNN’s State of the Union. “My sincere hope is that we will go forward and do this quickly.” Moderna said it is on track to produce 20 million cans by the end of the year.
3. Voters officially elect Biden as president
U.S. President-elect Joe Biden announces another round of candidates and candidates to his administration while U.S. Vice President-elect Kamala Harris listens during a press conference on December 11, 2020 at his interim headquarters in Wilmington, Delaware.
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The presidential election will meet on Monday to officially elect Joe Biden as the nation’s next president. The results will be summarized in a joint congressional session on January 6th, chaired by Vice President Mike Pence. There is no reason to expect defects this year. Voters’ votes attracted more attention than usual in 2020 because Trump refused to allow the election and continued to raise unsubstantiated allegations of fraud. Biden plans to address the nation Monday night after the voters vote.
4. The White House recognizes reports of cyberattacks
Annette Riedl | Picture Alliance | Getty Images
The Trump administration confirmed reports that a foreign government-backed group carried out a cyber attack on the finance department and part of the trade department. The Washington Post linked the hack, which occurred over the weekend, to a group that worked for the Russian Foreign Intelligence Service. The latest revelation comes less than a month after Trump fired Christopher Krebs, the country’s leading cybersecurity officer, and accused him of making “highly inaccurate” statements about the security of the 2020 presidential election. Russia has denied the allegations.
5. Google’s YouTube, Gmail and Drive are suffering from an outage
The Gmail email application appears on a portable device on December 6, 2017 in this photo illustration. (Photo by Jaap Arriens / NurPhoto via Getty Images)
NurPhoto | NurPhoto | Getty Images
Alphabet’s Google appears to be suffering from a global outage that took several services, including YouTube, Gmail, and Google Drive, offline. Several people on social media reported issues with the platforms, with Gmail, YouTube, and Google Drive displaying error messages without further explanation. Google wasn’t immediately available for comment when contacted by CNBC.
– Reuters and The Associated Press contributed to this report. Follow all developments on Wall Street in real time with CNBC Pro’s live market blog. Find out about the latest pandemics on our coronavirus blog.