Good MorningThe S&P 500 struggled for direction on Tuesday despite the passage of a new stimulus bill by Congress. The bill is worth $900 billion and already facing stiff criticism due to the amount of pork and frivolous spending it includes. The average American is slated to receive just $600 of the money with many expected to receive their checks within weeks. The S&P 500 traded in a very tight range and closed with nearly no movement versus the prior session.
On the economic front, the number of existing homes sold in the month of November fell less than expected versus the previous month. The number of homes sold comes out to 6.69 million on an annualized basis and is up more than 25% on a year-over-year basis. Looking forward, the sale of homes is not expected to slacken in 2020 and will drive gains in related sectors like home improvement as well.
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Tech | | | In the middle of last year, Tesla's losses were piling up, sales weren't enough to cover expenses and big debt payments loomed. The situation was so bad that one influential Wall Street analyst raised the possibility that Tesla wouldn't be able to pay its bills and would have to be restructured fina... Read the Full Story |
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Markets | | | Asian shares have declined, extending losses on growing worries over a new, potentially more infectious strain of the coronavirus that has countries around the world restricting travel from the United Kingdom Read the Full Story |
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Markets | | | Shares retreated in Asia on Tuesday after the U.S. included dozens more Chinese companies in a Commerce Department blacklist in another blow to markets already wracked with uncertainty over the pandemic.
The Shanghai Composite index dropped nearly 2% on Tuesday and other regional mar... Read the Full Story |
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Politics | | | European shares and U.S. futures advanced Tuesday after American lawmakers approved a $900 billion package of measures to help the economy get through the pandemic.
Stocks rose in Paris, London and Frankfurt but fell in Tokyo and other Asian markets. The Shanghai Composite index drop... Read the Full Story |
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Healthcare | | | The massive, year-end catchall bill that Congress has passed combines $900 billion in COVID-19 aid with a $1.4 trillion spending bill and reams of other unfinished legislation on taxes, energy, education and health care Read the Full Story |
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From Our Partners | | Bitcoin just passed Amazon in total market cap — but most investors are missing the bigger opportunity.
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Stocks | | | Special purpose acquisition company (SPAC) RMG Acquisition (NYSE: RMG) will reverse merge with Romeo Power Technology, a battery technology company accommodating the electric vehicle (EV) market. Shares have seen a boost due to the EV and SPAC mania boosted by the likes of QuantumScape Corporation (... Read the Full Story |
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Markets | | |
For the risk-averse investor, the last several months have been like a rocket sled clear through the center of Crazy Town. Stocks that seemed to have little in the way of visible support shot up to multiples of their previous valuations, while long-term holdings began to collapse. I won't even bri... Read the Full Story |
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Markets | | | The RealReal, Inc (NASDAQ:REAL) is the operator of an online shopping portal for consignment and vendor-originated luxury items. Now, the luxury market was one of the worst-hit over the summer but the rebound is on Read the Full Story |
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Markets | | | Spaceship manufacturer Virgin Galactic Holdings, Inc. (NYSE: SPCE) stock imploded on the failure of a test flight sending shares collapsing from a high of $35.82 to a low of $23.78 in eight trading sessions. Read the Full Story |
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Markets | | | Leslie’s (NASDAQ:LESL) has been around for about 60 years but only went public two months ago. That is surprising because the company is uniquely positioned as the largest supplier of pool and spa supplies Read the Full Story |
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