U.S. stocks are set to start the week in a positive fashion, with many things contributing to the sentiment-good factor.
After the Food and Drug Administration approved the vaccine candidate for the US pharmaceutical company Pfizer PFE, the first COVID-19 vaccines went to distribution sites across the United States.
And its German partner BioNTech BNTX,
Friday evening.
Hope for a stimulus deal in Washington has also given markets a boost. The bipartisan panel of lawmakers will present a two-part $ 908 billion incentive package on Monday, Bloomberg said. UK and EU leaders agree to extend Brexit trade talks, which cause pounds GBPUSD
High progress and stocks in early trading.
Investors are also looking forward to the Federal Reserve’s final policy meeting of 2020, which begins on Tuesday.
Ours Call of the dayAccording to Matt Malley, Miller Tabak’s chief market strategist, the current rally is long overdue, despite signs that the upper part of the market is approaching.
The Santa Claus rally (indicating that the stock market is turning a profit in the last weeks of December) did not change Miller Tabak’s opinion a bit last week, and will continue for some time to come, perhaps even early next year. “We feel that the liquidity provided by the central bank and other global central banks will make it harder for the stock market to fall in the next 4-6 weeks,” Mal மா said.
However he acknowledged that their numbers were not enough to defeat President Conte’s government. Symptoms include last week’s declines, a string of early public offerings and a CNN greed and fear code close to “nausea levels”.
But there is another reason why the “many scholars” who point to these symptoms are no longer extra immediate.
“Sometimes the market climbs the wall of anxiety, when almost everyone points to the foam that is in the market – this is the time when the market really ranks first.”
Airbnb ABNP’s blockbuster IPOs, vacation-rental market
Catering Service Door Dash Dash,
And artificial-intelligence-software provider C3.ai AI,
All of these were introduced last week, leading to a comparison with the 1999 IPO market before the 2000 dot-com bubble crash.
“Yes, it’s very reminiscent of those days, but we must also remember that the stock market did not top the list until March 2000. In other words, the action in the IPO market last week was really a concern, history tells us that these lung IPOs will take place several months before a significant peak. He said.
While the current rally will last a little longer, Malley said 2021 will be “a harder year than consensus thinks now”.
Chart
Bofa Global Investment Strategy, EPFR Global
This chart of Bank of America shows that in the midst of the COVID-19 epidemic, cash, gold and technology stocks will be the largest inflows by 2020 – as a percentage of assets under management.
Markets
After a moderate cut on Friday, U.S. stocks were set to start the week ahead on stimulus bill improvement and immediate vaccine deployment. Dow Future YM00,
0.8% higher, indicating a 250-point gain for the Dow Jones Industrial Average DJIA,
Outdoors. S&P 500 Future ES00,
And Nasdaq Futures NQ00,
There were more.
European stocks rose in early trade, hoping Germany’s decision to tighten locking restrictions ahead of Christmas could avoid ‘non-contractual’ Brexit. Pan-European Stocks 600 SXXP,
German DAX DAX, up 1.1%
1.3% higher.
Chatter
A few days after a leading global cyber security firm claimed to have been violated in a similar attack, hackers hacked into the networks of the Treasury and business sectors as part of a global cyber espionage campaign, experts say, highlighting the uniqueness of Russian trade.
Pound GBPUSD,
After UK and EU leaders agreed to “go the extra mile” in the Brexit trade deal negotiations, a further 1.5% increase following a phone call on Sunday hit December 31 as the final date for deciding whether a deal could be in place.
UK pharmaceutical company AstroGeneca AZN,
On Monday the US biotech company agreed to buy Alexian on a $ 39 billion deal, which will strengthen its position on the immune system and rare diseases. The stock fell more than 6% in early trade.
UK video game maker Codemasters has agreed to a $ 945 million ($ 1.27 billion) offer from UK gaming company Electronic Arts.
Google’s GOOGL,
YouTube, Gmail and Google Drive applications crashed early Monday morning as users around the world reported issues.
Bill Gates, co-founder of Microsoft MSFD
Despite the advent of the COVID-19 vaccine, the next four to six months have warned of “worst of infections.”
Neo NIO,
Shares in the market traded down 5% after the China-based electric vehicle maker raised its share offer to buy at a discount of more than 7%.
Random readings
Returned spy novelist John Le Carr dies at 89
Queen delays recording Christmas speech after Brexit deal talks
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