In this recap, the U.S stock futures end higher as weekly jobless claims declined, the upcoming vaccine approval process & investors looked to today’s monthly jobs report, as an indication that the economic recovery is ongoing. All 3 major indices ending at record highs, as the slowest U.S. jobs growth in 6 months raised investor expectations for a new fiscal stimulus bill to help further revive the economy.
Global shares at record levels on Friday, set for a 5th straight week of gains, supported by growing prospects of a U.S. economic stimulus package with both Asian & European markets moving higher, led by gains in the tech sector.
While Bitcoin has soared +15% in the past week to hit a new all-time high just under $20,000, Ethereum the 2nd-largest cryptocurrency is up over +20% in the past 7 days alone. XRP, the 3rd-largest has surged nearly 25%. Litecoin, Polkadot, Cardano & Stellar have all seen larger gains than Bitcoin, as well.
Emerging markets currencies were continuing their gains vs the American dollar. The Mexican peso, Brazilian real, Turkish lira, South African rand, Russian ruble & Polish zloty, have all spiked 7% to 11% over the past month, adding to 5%-12% leaps in China, Taiwan & Korea’s currencies since June.
President of Taiwan seeks a new bilateral trade deal with the US; Delhi suffers its coldest November in more than 70 years; hurricanes Eta and Iota displaced more than 500K people in Central America; McConnell rejects $908 billion stimulus proposal; bill seeks that certain companies cannot trade on US stock exchanges; Singapore allows the sale of cultured meat; Salesforce.com is buying Slack; UK Authorizes Distribution of Vaccine Developed by Pfizer & BioNTech.
Podcast: Play in new window | Download | Embed