Two, they must get back to negotiating on whether they will move forward with another round of coronavirus relief bill as twenty-one states recorded records of hospitalizations over the US Thanksgiving weekend. One, they require to pass a spending bill before Dec 11 th to avoid a shutdown. Congress comes back to Washington this week to discuss two major issues. 5 with Moderna for 20 million doses of its vaccine, with the option to procure an additional 36 million doses.ĭespite the rises in Covid-19 cases, all major US indexes closed at all-time highs as investors welcome a successful vaccine, mainstream politics and the potential of another round of stimulus. The federal government secured an agreement on Aug. There have been some criticism of the government’s procurement plan from the Conservative opposition, but Moderna has confirmed that because Canada was among the first countries to make a pre-order with Moderna, the country is guaranteed to receive a certain portion of the company’s initial batch of doses as long as the vaccine proves safe and effective and is given regulatory approval. Alberta announced 1608 new cases which now is the highest daily increase amongst Canadian provinces. Here in Canada, we have surpassed 12000 death as of Sunday with infections on the rise. and European regulators to allow emergency use of its COVID-19 vaccine as new study results confirm the vaccine offers strong protection - ramping up the race to begin limited vaccinations as the coronavirus rampage worsens. (Source: Covid Tracking Project)įurthermore, Pfizer and Moderna are now seeking rapid approvals from both the US and Britain where Britain is set to approve the vaccine developed by BioNTech and Pfizer by next week. Hospitalizations also had a decline of 4.3% in the seven-day average that we hope is a sign that people have come to their senses and are taking better precautions to limit the spread. New York and California have again placed curfew and closed some schools in an effort to curb the spread.Īfter a new record daily case count of 194,979 on Friday, US case growth slowed over the holiday weekend resulting in a 5.4% decline in the seven-day average over the prior week. The US has experienced worsening Covid-19 cases in the 4 th quarter and with the weather getting colder, we see an elevated chance of further restrictions being enacted. While new restrictions are more targeted than the ones implemented in earlier this year, the recovery of certain economies are slowing down and could very well put some economies in a double-dip recession. While investors continue to direct funds to stocks, Covid-19 cases have been rising in several regions around the world, prompting many countries to implement new restrictions to lessen the spread. The below chart shows that a split Congress tends to mean stronger stock returns and this scenario has historically produced an average return of 15.9% since 1950. Aside from the Presidential race, the high probability of a split senate or gridlock in Washington have investors bullish on the outlook of the markets as they believe that this gridlock paves the way for more consistency in policy making over the next 4 years without major legislative changes to taxes, regulation and capital gains. Despite allegations of voter fraud, it is increasingly clear that Joe Biden will be the next US President and financial markets have embraced this change with one of the largest rallies since 1987. It was one of the most anticipated US elections in modern history with a record number of Americans casting their votes. The US elections have come and gone, and for the most part, the results are clear.
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