U.S. Stocks Drop After Hope Fades for Expanded Aid: Markets Wrap
Bloomberg 12/29/2020 Vildana Hajric
(Bloomberg) U.S. stocks pulled back from record highs, with small-cap shares posting their biggest drop in a month, as prospects faded for bigger government aid checks to individuals. The dollar weakened.
The Russell 2000 Index tumbled almost 2%, while the S&P 500 finished only slightly lower. A gauge of global equities was set to close at a record after the U.S. House backed President Donald Trump’s proposal to boost aid checks for individuals, but pulled back from its high of the day as Senate Republicans blocked an attempt by Democrats to increase the direct payments to $2,000 from $600.
U.S. Stocks Drop After Hope Fades for Expanded Aid: Markets Wrap
Bloomberg 12/29/2020 Vildana Hajric
(Bloomberg) U.S. stocks pulled back from record highs, with small-cap shares posting their biggest drop in a month, as prospects faded for bigger government aid checks to individuals. The dollar weakened.
The Russell 2000 Index tumbled almost 2%, while the S&P 500 finished only slightly lower. A gauge of global equities was set to close at a record after the U.S. House backed President Donald Trump’s proposal to boost aid checks for individuals, but pulled back from its high of the day as Senate Republicans blocked an attempt by Democrats to increase the direct payments to $2,000 from $600.
Oil Jumps After Industry Group Reports U.S. Crude Supply Decline
Bloomberg 12/29/2020 Jessica Summers and Sheela Tobben
(Bloomberg) Oil extended gains after an industry group reported a larger-than-expected decrease in U.S. crude stockpiles.
Futures in New York rose in after-market trading after closing 0.8% higher on Tuesday amid thin liquidity. The American Petroleum Institute reported domestic crude inventories fell 4.79 million barrels last week. That would be the largest stockpile decrease since October if U.S. government data confirm it on Wednesday. Analysts in a Bloomberg survey expected a 3.1 million-barrel drop.
Prices had pared gains during the session, with equities weakening after Senate Republicans blocked an attempt by Democrats to increase direct stimulus payments in the newly enacted Covid-19 relief bill.
(Bloomberg) U.S. stocks pulled back from record highs, with small-cap shares posting their biggest drop in a month, as prospects faded for bigger government aid checks to individuals. The dollar weakened. The Russell 2000 Index tumbled almost 2%, while the S&P 500 finished only slightly lower. A gauge of global equities was set to close at a record after the U.S. House backed President Donald Trump’s proposal to boost aid checks for individuals, but pulled back from its high of the day as Senate Republicans blocked an attempt by Democrats to increase the direct payments to $2,000 from $600. The year is coming to a close with risk assets such as stocks, corporate bonds and Bitcoin just off record highs. As investors try to gauge the impact of the pandemic and the pace of U.S. vaccine distribution, the S&P 500 is set to end the year 15% higher. On the coronavirus front, more restrictions are being imposed to fight the spread of the new, more infectious strain. Covid-19 hospitalizatio
U.S. stocks slip as hope fades for expanded aid
Cecile Gutscher, Bloomberg News VIDEO SIGN OUT
U.S. stocks pulled back from record highs, with small-cap shares posting their biggest drop in a month, as prospects faded for bigger government aid checks to individuals. The dollar weakened.
The Russell 2000 Index tumbled almost 2 per cent, while the S&P 500 finished only slightly lower. A gauge of global equities was set to close at a record after the U.S. House backed President Donald Trumpâs proposal to boost aid checks for individuals, but pulled back from its high of the day as Senate Republicans blocked an attempt by Democrats to increase the direct payments to US$2,000 from US$600.