Here are the top news, trends, and analysis investors need to get their trading day started:
Ornaments on the New York Stock Exchange (NYSE) Holiday Tree on Wall Street on December 9, 2020 in New York City.
Angela Weiss | AFP | Getty Images
The US stock futures were slightly higher On Tuesday, the morning after Congress, a total of $ 900 billion in coronavirus aid and a $ 1.4 trillion government funding package was passed. president Donald Trump is expected to sign. The Dow Jones industry average on Monday put out a 400-point drop on worries about a new strain of Covid and made a small profit urged as a strong result Nike up nearly 5% to hit a record high. Apple, another Dow 30 stock, was also higher on Monday, adding to those gains in the premarket on Tuesday on reports The company aims to produce a passenger car by 2024 that could have its own groundbreaking battery technology.
House Speaker Nancy Pelosi (D-CA) and Senate Minority Chairwoman Chuck Schumer (D-NY) speak after a press conference on Capitol Hill on December 20, 2020 in Washington, DC.
Tasos Katopodis | Getty Images
Both houses of Congress also passed a seven-day emergency law to keep the federal government open during the time it takes Trump to sign the stimulus and funding package.
- The pandemic aid that had stalled for months and months includes A $ 300 per week unemployment benefit and direct payments of $ 600 to most Americans through mid-March.
- $ 284 billion will go towards small business loans through the Paycheck Protection Program, while funds will go towards Covid testing, contact tracing and vaccine distribution.
- The move extends the federal eviction moratorium through January 31 and funds rental subsidies of $ 25 billion.
- Additionally, U.S. airlines will receive $ 15 billion in payroll assistance if they call back employees who were on leave this fall and keep employees on payroll through March.
A health care worker draws coronavirus disease (COVID-19) vaccine from a vial at Dignity Health’s Glignale Memorial Hospital and Health Center in Glendale, California on December 17, 2020.
Lucy Nicholson | Reuters
The US is investigating why a handful of people experienced severe allergic reactions soon after receiving treatment Pfizer– –BioNTech Covid vaccines, an official with the National Institute for Allergies and Infectious Diseases, told CNBC on Monday. The study, in the early planning stagesIt is expected to affect several hundred people who have had severe allergic reactions in the past.
It comes when the government started distributing Pfizer’s vaccine last week and Modernais this week. Both of the FDA-approved emergency vaccines use a new approach to vaccination, which uses genetic material to trigger an immune response. Dr. Anthony Fauci gets his first shot from Moderna’s vaccine Tuesday, one day after the president-elect Joe Biden shot the Pfizer.
Ugur Sahin, CEO of BioNTech.
Andreas Arnold | Image Alliance | Getty Images
Ugur Sahin, CEO of BioNTech, said on Tuesday that he was confident that the vaccine that the German company developed with Pfizer from the United States is working on a new highly contagious strain of coronavirus Found primarily in the UK. While there’s no evidence that the variant causes more serious illnesses, some countries in Europe and beyond have restricted travel from the UK.
When nations started Covid vaccinations, deaths from the virus exceeded 1.7 million in more than 77.4 million cases. In the United States, which had the most infections, cumulative cases over 18 million as deaths neared 320,000. As of Monday, the seven-day average of daily deaths in the US was 2,655, and there was one A record 115,351 people were hospitalized with Covid.
Cari Gundee rides her peloton exercise bike at her home in San Anselmo, California on April 6, 2020. Due to the coronavirus (COVID-19), more and more people are turning to Peloton.
Ezra Shaw | Getty Images
Shares of Peloton, which rose more than 400% in the stay-at-home economy this year, rose 11% on the Tuesday leading up to trading. The maker of high-end interactive bicycles and treadmills announced late Monday plans to buy Exercise equipment maker Precor for $ 420 million. The acquisition will help Peloton accelerate production and meet the promised delivery windows. The deal, which is expected to close early next year, also reinforces Peloton’s product development efforts by adding nearly 100 Precor research and development employees to its workforce.
– Associated Press and Reuters 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.