White House threatens to use Defense Production Act to ensure coronavirus vaccine allocation
Health and Human Services Secretary Alex Azar said on Wednesday morning that the Trump administration may use the Defense Production Act (DPA) to ensure that the government can acquire enough vaccine doses to help stem the tide of the coronavirus pandemic in the U.S.
via FOX BUSINESS NEWS
https://ift.tt/2JNGQhO December 9, 2020 at 08:29PM
The Senate has narrowly approved President Donald Trump’s lame-duck nominee to become a member of the Federal Communications Commission, setting up the agency for a stretch of partisan gridlock likely to stymie President-elect Joe Biden’s policies.
via FOX BUSINESS NEWS
https://ift.tt/3n4Lkir December 9, 2020 at 06:52PM
Stocks retreat from record highs as DoorDash IPO booms
U.S. equity markets surrendered their early gains Wednesday as traders digested
a setback in COVID-19 relief talks and therefore the strong stock-market debut
for food-delivery company DoorDash which can set the tone for future IPOs this
year.
The Dow Jones Industrial Average fell 108 points, or 0.36%, while the S&P 500
slid 0.%8 and therefore the Nasdaq Composite was weaker by 1.94%. The losses
came in any case three of the main averages hit intraday record highs.
House Speaker Nancy Pelosi rejected the Trump administration’s proposed $916
billion packages that might send a $600 check to most Americans, but not included
the $300 per week jobless benefit that was included during a bipartisan
proposal.
credits CNBC news youtube channel
As lawmakers grapple over the small print of a package, the approval of the Pfizer/BioNTech vaccine looms. The inoculation could receive emergency use authorization from the U.S. Food and Drug Administration as early as Thursday.
Elsewhere, airlines gave the first gains that developed after the Department of Transportation reported a 62% year-over-year drop by passengers in October, making for the littlest decrease since the onset of the pandemic.
Looking at earnings, online pet retailer Chewy Inc. raised its sales outlook for the ultimate quarter of the year after sales surged 45% within the three months ended Nov. 1.
GameStop Corp. reported comparable sales fell 25% as store closures caused by the pandemic and increased demand for digital downloads weighed. In commodities, West Texas Intermediate petroleum slipped 8 cents to $45.52 per barrel and gold dropped $36.20 to $1,834.60 per ounce.
Airbnb to price IPO above range at $68 per share: report
Airbnb will value its first sale of stock at $68 per share, individuals acquainted with the issue told the Wall Street Journal, far surpassing its recently reported objective scope of $56 to $60 an offer.
Billionaire Jeffrey Gundlach explains what could make him flee California
Billionaire bond fund manager Jeffrey Gundlach isn’t planning to cut his ties to California just yet, despite the departure of his wealthy peers from the Democrat-led state and others with high tax rates.
Market analyst advises against buying DoorDash, calls it the ‘WeWork of 2020’
DoorDash stock skyrocketed in its NYSE debut Wednesday, but New Constructs CEO and market analyst David Trainer told FOX Business Network's “The Claman Countdown” investors shouldn’t waste their money.
Stocks flat in early trading after investors showed appetite for DoorDash IPO
U.S. value prospects were level early Thursday, hours before the initial ringer after financial specialists demonstrated a solid craving for IPOs Wednesday for DealDash and before that Airbnb.