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Hey there, Bullets Fans –
Your Morning Bullets Brief Updates are here!
It’s the most wonderful time of the year!
This sentiment extends to the stock market too, as December has been the best month for the Dow over the last 100 years. What are its average gains?
Think you know who said it? You can check it in the closing area down below!
Image Source: Morning Bullets
After a record-breaking November, the Dow Jones Industrial Average was poised to begin December with a rally this morning. Futures indicated over 300 points in gains, after a 12% increase last month.
A big reason for the Dow’s success despite the staggering virus cases is the positive vaccine news. On that front, the CDC will meet today to discuss who will receive the vaccine first, and Pfizer has applied for authorization of its vaccine in Europe.
Meanwhile, Jerome Powell, the Federal Reserve Chairman, is set to deliver testimony about the Fed’s lending programs that are due to expire soon.
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Other Top Financial News
This is what the perfect stock looks like…
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Image Source: CNBC
This week on Capitol Hill, Federal Reserve Chairman Jerome Powell and Treasury Secretary Steven Mnuchin will be addressing the CARES Act initiatives, which are set to expire by year’s end.
“These programs serve as a backstop to key credit markets and have helped restore the flow of credit from private lenders through normal channels,” Powell’s prepared testimony shows. “We have deployed these lending powers to an unprecedented extent.”
Meanwhile, Mnuchin believes that the money that has been set aside for the Fed is better suited elsewhere.
“Based on recent economic data, I continue to believe that a targeted fiscal package is the most appropriate federal response. I strongly encourage Congress to use the $455 billion in unused funds from the CARES Act to pass an additional bill with bipartisan support.”
What is next on this front, and what else can you expect from their prepared remarks?
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Market Movers & Predictions
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Your biggest fan,
Fredrick Frost
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