Here are five things to know before Wednesday, December 30:
1.- Stock futures point modestly higher
Stock futures suggested a modestly higher opening for Wall Street on Wednesday following pressure from House Democrats and President Donald Trump to increase stimulus payments to $ 2,000 for most Americans trapped in the Republican-led Senate.
However, sentiment was given a lift by the UK’s approval of a second coronavirus vaccine to be rolled out Monday.
Contracts linked to the Dow Jones Industrial Average hit 87 points, S&P 500 futures were up 12 points, and Nasdaq futures 47 points.
Checks for $ 600 – the amount in the coronavirus measure Trump signed into law on Sunday – will be sent to Americans after Senate leader Mitch McConnell, a majority stake, blocked an attempt by Democratic leader Chuck Schumer to vote on a the house passed bill that would boost payments to $ 2,000.
Failure to approve larger stimulus controls resulted in stocks closing lower on Tuesday. The S&P 500 posted its first loss in four trading sessions, a day after closing at record highs.
The S&P 500 fell 0.22%, the Dow fell 0.22%, and the Nasdaq fell 0.38%.
“After a rapid rise as risk dominoes fell one by one this week, stocks fell back to Earth overnight,” Axi’s Stephen Innes said in a commentary. And while higher stimulus wages would always be a welcome addition to the consumption bonanza in the first quarter, the current level of stimulus will drive US growth higher enough and bridge the gap when people are vaccinated and return to those activities most affected by if off. eating out, traveling and other personal service related areas. “
2. – AstraZeneca’s Covid-19 vaccine receives UK approval
The coronavirus vaccine developed by AstraZeneca (AZN) – Request report and the University of Oxford was approved by the British government, making Britain the first country to authorize the emergency shot.
AstraZeneca’s US certificates rose 1.92% to $ 50.86 on premarket Wednesday.
The UK was the first government to approve a Pfizer vaccine earlier in December (PFE) – Request report and BioNTech (BNTX) – Request report.
The roll-out of the AstraZeneca vaccine will begin on January 4, UK Health Minister Matt Hancock said.
“The vaccine is our way out of the pandemic,” said Hancock.
The vaccine’s approval comes as the UK is fighting a more contagious variant of the coronavirus. The fast-spreading variant was found in Colorado on Tuesday, the first reported case in the US.
The patient is a man in his 20s with no travel history, the Colorado State Laboratory said. The matter was reported to the US Centers for Disease Control and Prevention.
“We are working to prevent the spread and contain the virus at all levels,” said Colorado Governor Jared Polis.
3. – Coronavirus – The latest
The number of confirmed worldwide deaths from Covid-19, the disease caused by the coronavirus, rose to more than 1.79 million, according to Johns Hopkins University. Confirmed cases of the virus around the world have passed 82 million.
The death toll in the US is 338,632, the highest number in the world. The number of people confirmed infected in the US was 19,515,430.
According to data from the university, there were 168,817 new cases of coronavirus in the US on Tuesday and 1,718 were killed.
The US only vaccinates an average of 200,000 people a day against Covid-19, Bloomberg reported, citing data it collected from states and the US Department of Health and Human Services.
While the U.S. government’s Operation Warp Speed has distributed millions of doses, some states have been slow to vaccinate people. According to a Bloomberg analysis, the nation will almost certainly fall short of the Trump administration’s goal of having 20 million vaccinations by the end of the year.
4. – Intel is being pressured to make major changes
Intel (INTC) – Request report Slipped into premarket trading on Wednesday after strong gains in the previous session after activist hedge fund Third Point urged the chipmaker to evaluate strategic alternatives.
Intel shares fell 0.75% to $ 49.02 in premarket trading. The stock closed 4.93% higher on Tuesday at $ 49.39.
In a letter to Intel Chairman Omar Ishrak, Daniel Loeb, CEO of Third Point, wrote that Intel needed to address its weakening position in microprocessor manufacturing against rivals in Taiwan and South Korea.
Loeb pointed out what he said, Intel’s loss of market share was to rivals in the major PC and data center markets.
“We recommend that the board of directors hire a reputable investment advisor to evaluate strategic alternatives, including whether Intel should remain an integrated device manufacturer and the potential divestment of certain failed acquisitions,” said the letter from Third Point .
New York-based Third Point has accumulated nearly $ 1 billion in Intel, according to reports.
Intel said it “welcomes input from all investors regarding increased shareholder value. In that spirit, we look forward to engaging with Third Point LLC to discuss their ideas for that purpose.”
5. – Wednesday’s economic calendar: international trade, pending home sales
Wednesday’s US economic calendar includes international trade in goods for November at 8:30 a.m.ET, Chicago PMI for December at 9:45 a.m., the Pending Home Sales Index for November at 10:00 a.m., and oil inventories for the week ending December 25 at 10:30 a.m. ‘ in the morning
No companies are scheduled to report earnings on Wednesday.