Our analysts have their fingers on the pulse of the world's financial market news.
The Dow Jones has closed at another record high thanks to trial results showing that the Moderna COVID-19 vaccine is nearly 95% effective.
• Asia-Pacific shares were mixed on Tuesday as vaccine hopes once again lifted Wall Street to record highs. Airline stocks got a boost;
• Oil prices edge higher ahead of OPEC+ meeting, vaccine hopes;
• Airbnb on Monday released its prospectus to debut on public markets. The company made a $219 million profit last quarter on revenues of $1.34 billion last quarter. That was down nearly 19% from $1.65 billion in revenue a year prior;
• Coronavirus updates: California pulls an ‘emergency brake’ on reopening as U.S. cases cross 11 million;
• Warren Buffett's Berkshire Hathaway reveals stakes in AbbVie, Merck, Pfizer, and other 'big pharma' stocks;
• Spanish bank BBVA in merger talks with Sabadell.
• CNBC's Jim Cramer says he’s never seen such resilient stock buyers before in the market;
• Longtime hedge fund manager and activist investor Daniel Loeb, manager of Third Point, continued to bet on Disney and e-commerce giants in the third quarter, and added new positions in Pinterest, Palantir and Microsoft;
• Saudi Aramco plans debt market comeback with multi-tranche bond deal;
• PNC to buy U.S. operations of Spanish bank BBVA for $11.6 billion. This is the second-largest U.S. banking deal since 2008 crash;
• Goldman investment bank co-head Gregg Lemkau quits for Dell fund;
• The creator of the Pfizer-BioNTech vaccine says life could return to normal by next winter;
• Sweden unveils tougher coronavirus restrictions. Europe’s outlier on Covid-19 is forced to step up measures to fight the virus as cases surge.
• Vodafone Group PLC: met expectations with a 2.6% rise in full-year core earnings to 14.9 billion euros ($16.10 billion), but said it could not predict the current year outcome. The stock rose by nearly 7% during regular session;
• Tyson Foods Inc posted solid fourth-quarter fiscal 2020 results, with the top and the bottom line increasing year over year and surpassing consensus estimates. The stock gained nearly 4% in the regular session.
The Day Ahead
• Earnings: Walmart (WMT), Home Depot (HD), Experian PLC (EXPN LN), Imperial Brands plc (IMB LN), NIO ADR (NIO);
• Macro: U.S. Retail Sales, U.S. Industrial Production, Japanese Trade Balance.
Quote of the day
"Never under any circumstances take a sleeping pill and a laxative on the same night.” – Dave Barry.
U.S. stocks jumped on Monday after preliminary coronavirus vaccine data from Moderna further lifted expectations of a strong economic recovery. The S&P 500 rose 1.2%, posting an all-time closing high. Stocks that would benefit from the economy reopening led the way higher. United Airlines was up 5.2%, and Carnival closed 9.7% higher. Moderna shares jumped nearly 10% on the day. European stocks close higher on vaccine hopes; BBVA up 15% as it agreed to sell its U.S. business to PNC for $11.6 billion. Bitcoin soared to over $16,800, its highest level since $16,800. Oil prices ended the day higher on vaccine hopes presumably, but once again staled at $42 and faded back.
Moderna said Monday that its coronavirus vaccine was more than 94% effective during a late-stage trial. The promising announcement makes the Massachusetts-based biotech firm the second drug maker to say it has a potentially effective vaccine.