Archives of “December 2020” month

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US major indices close at record highs led by the S&P index

  
Analysis, US Market

Major indices close near highs

All 3 major indices close at record highs today.

  • The Dow and S&P close higher for the 2nd consecutive week
  • The NASDAQ close higher for the 3rd consecutive week
  • The S&P index outperformed the Dow and Nasdaq although all closed near session highs.
The final numbers are showing:
  • S&P index rose 32.4 points or 0.88% to 3699.12
  • NASDAQ index rose 87.05 points or 0.7% to 12,464.23
  • Dow rose 248.74 points or 0.83% to 30,218.26
For the week, the
  • NASDAQ index led the way with a 2.12% gain.
  • The S&P rose by 1.67% and
  • The Dow industrial average rose by 1.03%.
Energy, banks and technology led the charge this week. Energy was up around 4% while banks and technology increased by 3%.
Looking at the major global indices, the UK FTSE 100 led the winners with a 2.87% gain. Italy’s FTSE MIB and the German DAX were the laggards for the week. The FTSE MIB fell by -0.70% while the German DAX fell by -0.28%.
Major indices close near highs_

Eurostoxx futures -0.2% in early European trading

  
Analysis, Global Indices

Tepid tones observed in early trades

  • German DAX futures -0.2%
  • UK FTSE futures +0.4%
  • Spanish IBEX futures flat
This largely reflects similar tones to yesterday, with UK stocks still benefiting from the vaccine news from earlier this week as well as some Brexit optimism; although the latter has been slightly tempered with since late trading yesterday.
S&P 500 futures are up 0.2% but not really doing a whole lot so far today.

The US has slashed visas for members of China’s Communist Party from 10 years to 1 month

  
Analysis, Politics

Posting as an ICYMI on a move to substantially restrict travel to the United States by members of China’s ruling Communist Party and their families.

  • The new policy reduces the maximum validity length of the B1/B2 non-immigrant business and tourist visas for party members and their immediate family members from 10 years to one month
  • the US State Department said the measure was aimed at protecting the nation from the party’s “malign influence,”
China, unsurprisingly,  says the visa changes are an “escalated form of political oppression”
Posting as an ICYMI on a move to substantially restrict travel to the United States by members of China's ruling Communist Party and their families.
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