Goldman Sachs led the Dow Jones up (GS) – Get the report, JPMorgan Chase (JPM) – Get the report and Nike (OF) – Get the report.
How far can Nike run after reaching new highs in revenue?
In Europe, stocks fell sharply after a new strain of coronavirus emerged in the UK which prompted many European countries to ban flights from Britain. London and the south-east of England were totally stranded just before Christmas.Tourism values in the US and globally were trading lower on Monday.
The House and Senate will likely vote on the Pandemic Relief Bill on Monday, which includes additional unemployment benefits of $ 300 per week through March, and a direct stimulus payment of $ 600 to most Americans. The bill will also include $ 284 billion for the paycheck protection program, which provides forgivable loans to small businesses, according to Bloomberg. The legislation is expected to be approved in both chambers.President Donald Trump will sign the legislation, according to the White House.
The vote on the relief package will come amid a spike in coronavirus cases and deaths in the United States and around the world.“The news that Congress has reached agreement on a fifth coronavirus relief bill is encouraging and removes some ambiguity that had existed for some time,” said Brian Price, head of investment management for the Commonwealth financial network..
“There doesn’t seem to be many bull market catalysts in this bill though, as we are clearly still in a precarious phase with the virus,” he added. “The announcement of a new strain of the virus in the UK appears to be behind a large number of risk-free (Monday) trading in global equities as many fear further prolonged economic lockdowns.
Tesla (TSLA) – Get the report, added to the S&P 500 on Monday, traded lower in its debut as part of the stock market’s benchmark, down 4.53% to $ 663.54.
Stocks closed at an all-time high of $ 695 on Friday, up 5.96%, as demand for index funds pushed the stock to a record high.Tesla, with a market capitalization of over $ 650 billion, is the most valuable company ever added to the S&P 500.
Tesla is the # 1 title of the year on TheStreetA week after the deployment of the country’s first vaccine against Covid-19, deliveries for the second, developed by Massachusetts biotech company Moderna (RNAm) – Get the report, will start on Monday.
Moderna’s vaccine received approval from an advisory committee of the Centers for Disease Control and Prevention on Saturday for use in Americans aged 18 and older.
The Food and Drug Administration granted permission for emergency use of the vaccine on Friday.