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Stocks snap losing streak, PPI Surges, et tu, Elon? Posted 3 hours agoSharePrint US PPI rises, jobless claims fall Wall Street can’t get inflation out of its head.  The day after consumer prices delivered the largest 12-month increase since the summer of 2008, saw another hot pricing pressure-filled report that showed the largest annual increase since the BLS began tracking data in 2010.  Weekly jobless claims also fell to a fresh pandemic low, which should provide some optimism that the labor market recovery has not completely stalled due to a shortage of available workers. Surging produ...

A move is underway internationally to temporarily scrap patent restrictions on COVID-19 vaccines that are making pharmaceutical companies’ profits explode while many countries struggle to inoculate their people against the deadly virus.

The COVID-19 Vaccine Patent Waiver Fight Is Far From Over The waiver's timing and scope, plus the transfer of technological know-how and development of manufacturing infrastructure, will all be fiercely debated. Getty Images President Joe Biden and U.S. Trade Representative Katherine Tai are under industry pressure to make a COVID-19 vaccine intellectual property waiver as narrow as possible. The Biden administration’s announcement last Wednesday that it planned to support waiving intellectual property (IP) protections for COVID-19 vaccines prompted praise from global public health advocate...

The proposed temporary waiver was first suggested by India and South Africa at a World Trade Organization (WTO) meeting in October and is “gathering support from a large number of developing countries”, Reuters reports. The plan’s backers argue that making coronavirus jabs more widely available is a “vital step” in combating the global pandemic, says the news agency. The US had previously withheld its support, however, alongside the EU, UK, Japan, Switzerland, Brazil and Norway. But now supporters of the waiver are hoping that “US leadership on the issue could help sway other...

STOXX Europe 600 fell 0.14% to 440.93 MXAP up 0.7% to 206.23 MXAPJ up 0.3% to 690.73 Nikkei up 1.8% to 29,331.37 Topix up 1.5% to 1,927.40 Hang Seng Index up 0.8% to 28,637.46 Shanghai Composite down 0.2% to 3,441.28 Sensex up 0.5% to 48,917.26 Australia S&P/ASX 200 down 0.5% to 7,061.69 Kospi up 1.0% to 3,178.74 Brent Futures down 0.19% at $68.83/bbl Gold spot up 0.39% to $1,793.90 U.S. Dollar Index down 0.23% to 91.094 German 10Y yield fell 0.3 bps to -0.231% Euro up 0.27% to $1.2038 Top Overnight News from Bloomberg Treasury Secretary Janet Yellen faces the challenge of speeding a debt-cei...