UBS managing director and senior portfolio manager Jason Katz discusses the possibility of a Democratic victory in the Georgia Senate and what it could mean for capital gains taxes and financial transactions.
Stock futures in the United States are winning as another approved vaccine joins the fight against coronavirus.
The main future indices suggest an increase of 0.3% when trading starts on Wall Street.
DISCOVER FOX BUSINESS ON THE MOVE BY CLICKING HERE
Britain on Wednesday became the first country in the world to approve a coronavirus vaccine developed by the University of Oxford and AstraZeneca while battling a major winter wave driven by a new highly contagious variant of the virus, Reuters reported. .
On the economic agenda, the Institute for Supply Management released its December Chicago Purchasing Managers Index. The watchful indicator of business activity in the Midwest is expected to fall for the third consecutive month to a reading of 57, compared to 58.2 in November. Remember that 50 is the dividing line between expansion and contraction.
The National Association of Realtors released its pending home sales index for November. Economists do not expect any change from the October reading of 128.9. For contextual purposes, the August level of 132.9 was the highest on record. A sale is pending when a contract to buy a house that once belonged has been signed and awaits closing.
In Europe, London’s FTSE rose 0.2%, Germany’s DAX gained 0.1% and France’s CAC rose 0.1%.
In Asia, Japan’s Nikkei 225 fell 0.5% to 27,444.17, a day after having shot more than 2% to its highest level in more than 30 years. Japanese markets will be closed from Thursday until the end of the week, reopening on January 4.
Hong Kong’s Hang Seng rose 2.2%, while China’s Shanghai Composite index rose 1.1%.
The S&P 500 lost 0.2% on Tuesday, a day after major indices recorded their all-time highs after President Trump signed the $ 900 billion economic aid package.
| Ticker | Safety | Last | change | Change % |
|---|---|---|---|---|
| I: DJI | DOW JONES AVERAGE | 30335.67 | -68.30 | -0.22% |
| SP500 | S&P 500 | 3727.04 | -8.32 | -0.22% |
| I: COMP | NASDAQ COMPOSITE INDEX | 12850.221074 | -49.20 | -0.38% |
A Trump effort to increase the $ 2,000 COVID-19 relief checks for individuals has stalled in the Republican-led Senate. For now, checks for $ 600 must be delivered, along with other types of aid, in one of the largest rescue packages of this type.
The S&P 500 fell 8.32 points to 3,727.04. The Dow Jones Industrial Average fell 0.2% to 30,335.67. The high-tech Nasdaq fell 0.4% to 12,850.22.
With two trading days remaining in 2020, the S&P 500 is up 15.4% this year, while the Nasdaq is up 43.2%.
CLICK HERE TO READ MORE ABOUT FOX BUSINESS
The US reference crude oil gained 33 cents to $ 48.33 a barrel in e-commerce on the New York Mercantile Exchange. It rose 38 cents to $ 48.00 a barrel on Tuesday. Brent crude, the international standard, added 25 cents at $ 51.34 a barrel.
The Associated Press contributed to this report.