Politics
“But what is government itself, but the greatest of all reflections on human nature?” –James Madison, Federalist 51
“They had one weapon left and both knew it: treachery.” –Frank Herbert, Dune “They had learned nothing, and forgotten nothing.” –Charles Maurice de Talleyrand-Périgord
Impeachment
“A Vote to Acquit Trump Is a Vote for a Lie” [Peggy Noonan]. “Here is a human question. I don’t understand why I haven’t heard a single story of a member who supported the president in refusing Electoral College certification, who stood with him, and who, hearing what was happening in the first stages of the riot, went into the halls to speak with the rioters. Why did they not do that? They knew there was a rally and expected a march, presumably peaceful. Why didn’t they go into the halls where the clamor was and tell the people, ‘Friends, I share your beliefs and am arguing for them on the floor, but what you are doing is wrong and unlawful, and
Holiday sales rose stronger-than-expected 8.3% as consumers bought gifts to lighten mood during pandemic (SPY -0.7%). Bitcoin ends a choppy week of trading with prices below $40,000.
Here is the current market situation from CNN Money
North and South American markets are lower today with shares in U.S. off the most. The S&P 500 is down 0.60% while Brazil s Bovespa is off 0.52% and Mexico s IPC is lower by 0.45%.
What Is Moving the Markets
Here are the headlines moving the markets.
Oil Prices Under Fire As Traders Cite Demand Concerns Oil prices dropped early on Friday, as expanding lockdowns in China weighed on market sentiment about immediate global oil demand, while a stronger U.S. dollar also dragged crude futures down. As of 9:47 a.m. ET on Friday, WTI Crude prices were down by 1.34 percent at $52.89 and Brent Crude was trading down 1.49 percent at $55.58. Brent prices were headed for their first weekly loss in three weeks, while the U.S. benchmark was poised for a tin
Final December 2020 Michigan Consumer Sentiment Declines
The final University of Michigan Consumer Sentiment for December came in at 80.7, down from the preliminary of 81.4, up from November s 76.9, and down from October s 81.2
The Econoday consensus range was 76.6 to 81.4 (consensus 81.0)
Surveys of Consumers chief economist, Richard Curtin, makes the following comments:
The Sentiment Index slipped in late December, although it remained higher than last month despite the ongoing surge in covid infections and deaths. The improvement was due to a large and rapid partisan shift, with Democrats becoming much more positive and Republicans much more negative. The largest change was in long term business prospects, as twice as many Democrats as three months ago expected a continuous expansion over the next five years (54% up from 27%), while that same favorable expectation was nearly cut in half among Republicans (32% down from 60%). The pandemic has had a much greater relative impact
Treasury yields edge lower as stalled U.S. stimulus talks, Brexit worries spark demand for safe assets (SPY -0.1%). Rig count sees the largest one-week increase since January.
The Market in Perspective
Here are the headlines moving the markets.
EVs Take Record 15% Share Of UKs Used Car Market Last months announcement that the UK would ban sales of new gasoline and diesel cars as of 2030 was most likely the reason why electric vehicle (EV) sales on the used car market in Britain surged to their highest market share ever15 percent of used car sales in December, Motortrader reported, citing online car supermarket BuyaCar.co.uk. In the middle of November, the UK government said it would ban the sales of new gasoline and diesel cars beginning in 2030. The ban is part of the UKs Ten Point Plan for a Green Industrial Revolution
Preliminary December 2020 Michigan Consumer Sentiment Improved Due To Biden Win econintersect.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from econintersect.com Daily Mail and Mail on Sunday newspapers.