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Futures Jump Ahead Of Yellen Hearing, Hong Kong Stocks Soar

Global markets and S&P futures rebounded overnight, continuing their advance during Monday’s MLK holiday and recouping all of their Friday losses, tracking gains for shares in most of Europe and Asia on the back of frenzied buying Hong Kong shares by mainland China investors, as traders awaited a speech by Treasury Secretary nominee Janet Yellen…

'Elite' Californians Are Making Major Hospital 'Donations' To Jump The Line For COVID Vaccinations

Given that Pfizer’s vaccine is in short supply and stringent temperature requirements for shipment and storage have limited vaccinations only to frontline hospital workers and long term elderly patients – there’s a growing movement among wealthy Americans offering five-figure donations to hospitals to cut in line and receive an early dose of the vaccine.  Wealthy…

Bonuses For Goldman's Trading Desk Could Jump 20% This Year

As if Friday afternoon’s new of the Fed allowing the banks to resume buybacks wasn’t good enough for news for many working at Goldman Sachs, those in the trading division will be especially chuffed this holiday season – as the company plans on boosting bonuses for the division by up to 20%.  The bonuses are a result…

US Reports Near-Record Jump In COVID Cases; India Tops 10MM: Live Updates

Summary: US sees near record jump in cases Record deaths seen in west, south India tops 10MM  cases Germany buys 30MM doses Poland announces lockdown measures Tokyo reports second-highest number of new cases * * * The number of new COVID cases reported Friday in the US was just shy of the record highs reported…

Futures Jump As Vaccine Optimism, Stimulus Hopes Return

Yesterday morning, after the early swoon, we said that as part of a gloriously repeating pattern, the drawdown will promptly reverse and on Tuesday morning things will be back to normal with the vaccine, stimulus narrative regaining the upper ground. This morning’s vaccine optimism has been replaced with shutdown pessimism. This will reverse tomorrow morning…

Weekly Initial Claims for Unemployment Benefits Jump to an Eleven-Week High

By Robert Hughes Initial claims for regular state unemployment insurance totaled 853,000 for the week ending December 5, up 137,000 from the previous week’s revised tally of 716,000 (see first chart). Claims are now at an eleven-week high, the highest level since September 19. The four-week average was 766,000, up 35,500 from the prior average…

Home Prices In Every Major City Jump More Than Double The Fed’s Inflation Target

While various Fed speakers are vowing this week that there will be no rate hikes until at least 2023 or 2024, the Fed may be surprised to learn that if it were to broaden its definition of inflation, it would find it is quite ample already. One month ago, we looked at the housing market…

NJ Reports New Daily Record Jump In COVID-19 Cases: Live Updates

Summary: New Jersey reports daily case record Six governors hold emergency meetings US tops 170k new cases for first time Total cases in US top 10.75 million Istanbul mayor proposes lockdown Latest outbreak impacting all states, regions South Korea sees more new cases since September Australia’s Victoria state goes 15th day virus free * *…