S&P 500 and Nasdaq rise barely on financial hopes, with earnings held in test by weak retail gross sales

The S&P 500 and Nasdaq Composite opened slightly higher on Wednesday as traders weighed the apparent advances in US stimulus stimulus and disappointing economic data.

Both market benchmarks rose 0.1% at the beginning of the session. The Dow Jones Industrial Average, meanwhile, was flat.

Politico reported that Congress was won on the verge of a $ 900 billion bailout deal that would include a new round of direct payments to consumers. However, this package would exclude corporate liability protection and state and local aid.

The report came after House Speaker Nancy Pelosi, Senate Majority Leader Mitch McConnell, Senate Minority Leader Chuck Schumer, and House Minority Leader Kevin McCarthy met on Tuesday to finalize a bipartisan relief agreement. Treasury Secretary Steven Mnuchin attended the talks.

“I am optimistic that we can reach an agreement soon,” said McConnell on Tuesday evening after the meeting.

Schumer said the leaders were “making headway and hopefully we can reach an agreement soon.”

“Stimulus remains a key issue in the marketplace as it is the necessary bridge to expansive vaccination,” Lindsey Bell, chief investment strategist at Ally Invest, told clients. “Market participants want a deal sooner rather than later as economic data is expected to slow in the short term. Without a deal, the turmoil could intensify.”

The deadline for the stimulation looms amid some of the darkest days of the pandemic. The US has at least 215,400 new Covid-19 cases and at least 2,300 virus-related deaths every day, based on a seven-day average calculated by CNBC using data from Johns Hopkins University.

Wednesday’s gains were held in check by an unexpectedly sharp drop in US retail sales. Retail sales fell 1.1% in November, according to the Commerce Department. Economists polled by Dow Jones expected a decline of 0.3%.

“The bottom line is that following disappointing sales data, expect a cut in fourth quarter GDP forecast,” wrote Peter Boockvar, chief investment officer at Bleakley Advisory Group. “Now that we are on the verge of giving more money out, this should help in the months ahead, but if things are not open, only online.”

Investors also looked forward to the Federal Reserve’s latest monetary stance forecast statement on Wednesday afternoon. While the Fed’s long-term view is expected to improve due to the vaccine, the central bank is expected to sound very cautious at the end of its session.

Wall Street had a tough session with its major averages all up more than 1%.

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– CNBC’s Jacob Pramuk contributed to this report.

Congratulation! Zonnique & Bandhunta Izzy welcome child! (Video)

Zonnique marriage

On Tuesday, Zonnique and Bandhunta Izzy welcomed a new girl.

Her co-hosts on ‘The Mix’ announced that Zonnique went into labor on Monday and gave birth to her baby girl on Tuesday morning.

Tiny went to Instagram and congratulated her daughter, saying, “Congratulations on my 1st my LuvBug @zonniquejailee My Gbaby is so fat and cute !! Just as I dreamed it would !! I told you all that today was a very blessed day straight from God! & yes i just loved this video so i had to !! ”

Most recently in an interview with HollywoodlifeZonnique announced that she is not quite ready for marriage. Zonnique, 24, said: “I feel like at my age I don’t really want to get married now.”

“I think that’s … an even bigger commitment – I don’t know, I hate to say it’s an even bigger commitment than a baby for me,” she added.

However, a marriage is out of the question for Zonnique, as she is definitely open to the idea.

For now, however, she says that getting married just seems like “so much” and that’s just not what she wants right now. “Nique Nique” adds that her boyfriend is more likely to marry than she is – and that her mother Tiny encourages her, especially when her husband is on board.

Congratulations to the couple!

McConnell, Schumer hope to make a deal quickly

The four top congressmen appeared to be making progress in funding the government and dispatching another round of coronavirus aid during Tuesday sessions as millions of struggling Americans await aid.

House Speaker Nancy Pelosi, D-Calif., Identified conversations with Senate Majority Leader Mitch McConnell, R-Ky., Senate Minority Leader Chuck Schumer, DN.Y., and House Minority Leader Kevin McCarthy, R-Calif., As Congress is running out of time to resolve both issues. Treasury Secretary Steven Mnuchin, who spoke separately to Pelosi on the phone for more than an hour on Tuesday, took part in the talks among congressional leaders.

McConnell left the Capitol after 10 p.m. ET and was more optimistic than he had been in months about the prospect of lawmakers entering into a bipartisan aid treaty.

“We are making significant progress and I am optimistic that we can reach an agreement soon,” he told reporters, according to NBC News. He did not outline any details of a possible aid agreement.

When Schumer left, he also said the leaders “are making progress and hopefully we can come to an agreement soon”. Congress must pass a spending bill by Friday to prevent government shutdown.

The discussions are the four leaders’ most significant efforts to date to reach a bipartisan agreement on a spending and pandemic rescue package that could come through a split Congress. Without action by Congress, government funds will expire on Saturday and 12 million people will lose unemployment benefits the day after Christmas.

The group met for about an hour late Tuesday afternoon and met around 7:30 p.m. ET and negotiated for hours.

McConnell told reporters earlier on Tuesday that Congress would not leave for vacation until it passed an emergency aid bill. He said lawmakers will “stay here until we get a Covid package, no matter how long it takes.”

Congress has failed to send new aid for months as the pandemic expands the capacity of the health system and millions of Americans search for a meal and pay their rent. The impending expiry of financial lifelines, a weakening economy, and the need for money to ensure Covid-19 vaccines get to health care workers and older Americans have forced lawmakers to seek a compromise once and for all.

A simple, bipartisan group of senators and officials helped bring Congress leaders closer to drawing up an aid package. Lawmakers on Monday released a plan that would put more than $ 700 billion in small business loans, unemployment insurance, vaccine distribution, education and rental support.

The negotiators in the group urged their party leaders to pass the law immediately, or at least use it as a template for a final agreement.

It would extend the pandemic unemployment benefits programs that benefit 12 million people and add a weekly unemployment benefit of $ 300 per week for 16 weeks. It would also maintain a federal eviction moratorium for an additional month through January 31, and extend the federal student loan forbearance through April 1.

It would not include direct payments, which many lawmakers have identified as crucial in providing adequate assistance to families in difficulty. Sens. Bernie Sanders, I-Vt., And Josh Hawley, R-Mo., Have insisted that Congress put a second stimulus check of $ 1,200 on an auxiliary bill.

The entire bipartisan group has not signed a separate part of the proposal dealing with corporate liability protection and state and local relief – two issues that have repeatedly blocked progress towards an agreement. McConnell has asked Congress to repeal both provisions for the time being.

Still, Pelosi and Schumer have called for money for state and local governments that are essential to maintaining jobs in the public sector. When asked on Tuesday afternoon whether he would still press for help during the meeting among congressional leaders, Schumer told reporters, “I will in no way enter into negotiations that will occur.”

The leaders of Congress hope to tie the auxiliary provisions to a government spending bill. Earlier, McConnell said “it is still my hope” that Congress will reach an omnibus funding agreement to keep the government going through September 30th.

If they cannot conclude a full spending contract for the financial year, the legislature would have to resort to a short-term measure.

Democrats have given up any coronavirus bailout bill they would pass this week as a down payment until President-elect Joe Biden takes office on Jan. 20.

The US is currently routinely recording more than 200,000 coronavirus cases every day. Covid kills thousands of Americans every week and has now killed more than 300,000 people nationwide.

The country got a glimmer of hope on Monday as the coronavirus vaccinations began. But as the virus spreads nationwide, Americans will continue to die, and the economy will struggle to recover on its own in the months when most people can get a shot.

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Prisoners have been excluded from vaccination plans for Covid

A protester waves a “Black Lives Matter” flag across the street during the demonstration. Representatives from various organizations, including Free the People Roc and HALT (Humane Alternatives to Long-Term), traveled to Elmira correctional facility from across the state to protest the conditions inmates were exposed to during the Covid-19 pandemic. Elmira, NY State Prison has seen a rash of coronavirus cases.

Kit MacAvoy | SOPA pictures | LightRocket via Getty Images

LONDON – The US and UK have already started rolling out their national coronavirus vaccination programs to help contain the spread of the virus. However, health professionals and activists are deeply concerned about the notable lack of prison populations in existing guidelines.

The U.S. Centers for Disease Control and Prevention has not yet made decisions about prisoners regarding access to vaccines, although it is believed that prison staff could be included in the second phase of the allocation. The US CDC was not immediately available for comment when contacted by CNBC.

In the UK, the Joint Vaccination and Immunization Committee has stated that the top priority of the Covid-19 vaccination program should be to prevent death and help maintain health and welfare systems.

The JCVI guidelines do not specifically mention prisons, but it is assumed that the allocation plans will be applied in a manner similar to those in detention.

Both countries have been administering the first vaccinations with the Pfizer BioNTech vaccine outside of the trial conditions in the past few days, raising hopes that mass adoption of safe and effective vaccines could end the coronavirus pandemic soon.

With coronavirus cases and related deaths continuing to surge, experts are questioning the ethics of how governments plan to distribute the first vaccines.

“We face a major dilemma here,” said DeAnna Hoskins, president and CEO of JustLeadershipUSA, a national judiciary reform organization trying to cut the US prison population in half.

Speaking at a webinar at Chatham House earlier this month, Hoskins said people incarcerated are “still fewer than people … and that’s how we react when we talk about vaccine access.”

Covid hotspots

Health officials have for years warned of the dangers of epidemics for detainees, arguing that people are unable to maintain a safe physical distance in correctional facilities due to their confinement in small common areas.

The coronavirus pandemic turned America’s prisons and prisons into Covid hotspots. People in prison are almost four times more likely to be infected than people in the general population – and twice as likely to die, according to a study by a criminal justice commission.

If the biggest trouble spots for Covid are prisons, doesn’t it make sense to vaccinate everyone from guards to prisoners?

Ashish Prashar

Judicial Reform Lawyer

“From my point of view and the information we have, we need to consider where prisoners fit in relation to other high-risk groups in terms of their risk. At first glance, prisoners would be at high risk for several reasons.” Seena Fazel, Department of Psychiatry at Oxford University, said in a report published Dec. 12 in The Lancet Medical Journal.

Fazel said prisoners were at high risk of contracting the coronavirus due to the underlying chronic medical conditions, age and the environment. He cited a systematic review of prison settings by his team that identified correctional facilities as high risk for infectious disease transmission with significant challenges in managing outbreaks.

“Our research suggests that people in prison should be among the first groups to receive a COVID-19 vaccine to protect themselves from infection and prevent the disease from spreading further,” he said.

A view of a new emergency care facility being built to treat COVID-19 infected inmates at San Quentin State Prison on July 8th, 2020 in San Quentin, California.

Justin Sullivan | Getty Images News | Getty Images

The CDC has recommended vaccinating those at an increased risk of infection and mortality for the coronavirus early. However, federal officials say correctional staff should be given priority access to a vaccine, but have not yet spoken out in favor of prisoners being given the same allocation.

Arthur Caplan, a professor of bioethics at New York University’s Grossman School of Medicine, said in the report released by The Lancet that he disagreed with plans to vaccinate prison staff only.

“If you are at risk and older or sick, you should just get vaccinated. If you are in a state where you cannot isolate yourself, you should get vaccinated. I see no reason to distinguish them.”

Racial differences

“If the biggest trouble spots for Covid are prisons, doesn’t it make sense to vaccinate everyone from guards to prisoners?” said Ashish Prashar, a judicial reform attorney and senior director of global communications for Publicis.

Speaking at the December 4th webinar at Chatham House, Prashar said, “All the guards, all health workers, all people going to and out of prison are spreading it to society. Wouldn’t you start on?” Hotspots and stop them? And take care of these people first? “

A nurse holds a sign during a protest by the nurses at Rikers Island Prison about the conditions and threat of the coronavirus on May 7, 2020 in New York City.

Giles Clarke | Getty Images News | Getty Images

Mass incarceration in the United States does not affect all communities equally, as African Americans are disproportionately incarcerated in US correctional facilities.

In addition to racial disparities within the U.S. criminal justice system, an updated CDC report earlier this month found that Hispanics and Black Americans, age-adjusted, were nearly three times more likely to die of complications from the coronavirus than white Americans.

“Half a million people haven’t been convicted of a crime, but we’ve taken their liberty away,” said Celia Ouellette, founder and executive director of the Responsible Business Initiative for Justice, a nonprofit group that advocates greater security about criminal justice systems and security Imprisonment. Her comments related to those in the US who have not been convicted of a crime but are being held in prisons.

“So there is a moral obligation to treat these people just like the surrounding community – or possibly better because they do not have the same access as the surrounding communities.”

“We need to stop thinking of inmate populations as a category of people and see them as people, as we do in the prisons and jail communities,” Ouellette said at the same webinar at Chatham House.

Eurozone December Flash PMI: Enterprise continues to shrink

A general view of the cafes on the empty Leidseplein square on March 27, 2020 in Amsterdam, Netherlands

NurPhoto | NurPhoto | Getty Images

LONDON – Business in the Eurozone is quite robust in December, according to the latest preliminary purchasing managers’ index (PMI) for the region.

The Flash Eurozone PMI Composite Output Index, which tracks activity in both manufacturing and services, was 49.8 in December, compared with 45.3 in November. However, a value below 50 still indicates a decline in business activity.

Commenting on the Flash PMI data, Chris Williamson, Chief Business Economist at IHS Markit, said, “The eurozone economy is doing better than expected in December.”

“The data suggests the economy is on the verge of stabilizing, having slumped again in November due to renewed Covid-19 lockdown measures. The fourth quarter downturn therefore appears to be far less steep than the impact the pandemic at the beginning of the year The picture is very mixed by sector. “

The euro was up against the dollar at $ 1.22 and up 0.15% against the pound sterling. This was supported by news that progress had been made in post-Brexit trade agreement negotiations between the EU and the UK

Last month’s reading was the lowest for the index in six months, down from 50 in October.

The eurozone economy was widely expected to have received another blow from a new round of lockdowns imposed amid a second wave of coronavirus infections.

There have been plans to relax the rules over Christmas to allow families to congregate, but several governments, including Germany and the Netherlands, have instead tightened restrictions due to an increase in cases.

Germany put further restrictions in place on Wednesday, closing schools and non-essential businesses. This is on top of the closings of restaurants, bars and leisure centers that have been closed since November. The German health authority, the Robert Koch Institute, has announced 27,728 new infections in the last 24 hours, which corresponds to a total of 1,379,238. “We are forced to take action,” said Chancellor Angela Merkel last Sunday when further restrictions were announced.

According to the World Health Organization, Europe has recorded over 22 million cases of coronavirus and over 493,000 deaths from the virus since the pandemic hit the region in the spring.

Rapper Cupcakke defends Diss Monitor and mocks Lizzo, Cardi B and extra

rapper Cupcakke Doesn’t back off from her diss track that brings out some of the most well-known female stars in hip hop.

The performer had become a top trending topic on Twitter on Tuesday, December 15th, after releasing her remix for the song “How to Rob”. After some social media users struggled with the harsh words they were directed at Lizzo, Megan Thee stallion, Cardi B. and others, Cupcakke took to Twitter to defend the lyrics.

A fan backed Cupcakke by stating that diss tracks were a core element of rap, and the singer replied, “I think it’s a beautiful thing and anyone who gets upset about it is only of use to the mediocre. Understand They that it’s not male rappers complaining about female rappers Sit back and enjoy talent at its best. For the last time, all love is to all named rappers. Don’t be sensitive. “

Cupcakke later added, “I’ve decided to be baptized tomorrow morning. With that in mind. Have a peaceful, blessed night for everyone. In the name of Jesus, I pray. Amen.”

The Christmas buying season is completely different for retailers

Shoppers on Regent Street in central London.

Dominic Lipinski – PA Pictures | PA pictures | Getty Images

LONDON – The coronavirus crisis has posed major challenges for many retailers this year. The holiday shopping season was seen as the last chance to generate much-needed sales.

In the UK, as in many other countries, December is usually the best sales month of the year. However, amid one of the worst economic crises in history, there are concerns about how the sector will perform.

However, experts have told CNBC that UK retailers are optimistic for at least three reasons.

Pent-up demand

“Of course, many people will have financial problems as a result of the pandemic, but cash flows will have improved significantly for many other households across the UK as they were forced to spend less on travel, commuting and going out and many will have taken advantage of this.” Opportunity to build her savings and pay off her debts, “said Amisha Chohan, a stock research analyst at investment management firm Quilter Cheviot.

The UK household saving rate, the percentage of money people save and not spend, rose from 9.6% in the first quarter to 29.1% in the second quarter, according to the Bureau of National Statistics. This was a record since the data began in 1987.

“There is real optimism that this forced saving will ensure that there is some catching up to do in the weeks and months to come,” said Chohan.

Data from the UK Bureau of Statistics showed that consumers spent around £ 82 billion in November and December 2019. However, due to pent-up demand, the UK Retail Consortium, a trade association, has announced that sales will “exceed” last year’s sales.

New habits

Shopping baskets might look a little different this year.

“People have more time, so they have adopted new habits and that will bring some sales,” Jat Sahi, director of retail advisory at Fujitsu, told CNBC last month.

Fitness equipment, puzzles and board games, for example, were among the most popular items in the UK ahead of the second lockdown in November, data from eBay showed.

“We use our homes differently to make them more comfortable,” Sahi said, suggesting that housewares are also likely to be the first choice for consumers who expect to work from home, at least for the foreseeable future.

Back in the holiday season, music and movies, as well as books and computers, were the top three items bought as gifts, according to the Bank of England. At this time of year, new clothes were also the first choice for many consumers.

“Clothes are facing the biggest problems because people don’t go to Christmas parties,” Jonathan Pritchard, retail analyst at Peel Hunt, told CNBC on the phone.

It’s not just what consumers buy, but how they shop, which is likely to be different this Christmas.

Retailers have seen online sales spike in the aftermath of the pandemic as consumers have been forced to stay indoors. This trend is expected to continue over Christmas as many UK cities still have social restrictions.

According to eMarketer, a data company, UK consumers will spend £ 141.33 billion on online purchases for all of 2020 – a 34.7% jump from last year.

‘We deserve it’

“It’s an emotional thing. We’ve been in lockdown for so long, we deserve it,” Sahi told CNBC about the reasons for some of the purchases this season.

Due to the pandemic, people have been prevented from doing activities, but shopping is still one of the few options they have.

Chohan also noted the willingness of people to get into the Christmas spirit earlier this year.

“There have been few reasons to be cheerful this year, and this lack of joy has encouraged many to get into the festive mood early by putting up their decorations and starting Christmas shopping much earlier than usual,” she said .

A shopper wearing a face mask on Regent Street in London after the second national lockdown ended and England has a strengthened system of coronavirus restrictions.

Victoria Jones – PA Pictures | PA pictures | Getty Images

Lululemon’s CEO believes digital development will proceed after the pandemic

Calvin McDonald, CEO of Lululemon Athletica, said in an appearance on CNBC Tuesday that he did not expect the company’s sales momentum to slow with the introduction of Covid-19 vaccines

“We’re not seeing a dramatic impact in reducing the momentum in business … there are many growth drivers in the market,” he told Jim Cramer in a Mad Money interview. “I think there are some permanent ones [pandemic] Turning points about the guests. “

Like many other companies, Lululemon saw its digital sales grow exponentially as a result of the coronavirus pandemic. Lululemon saw 94% growth in this category in its third quarter that ended Nov. 1 as consumers spent more online.

The sportswear retailer’s sales were also driven by consumers who wanted to be active in health and wellness in addition to growing interest in comfort clothing, McDonald said.

“These are all drivers who will keep moving forward after the pandemic,” he said. “Combine that with the momentum we have in the early stages of our growth and innovation. I don’t see any real material impact slowing our business down.”

Lululemon reported sales of more than $ 2.67 billion in its three fiscal quarters from early February to early November. While physical store revenue declined more than 36% year-over-year during this period, revenue direct to consumers more than doubled over this nine-month period.

Between the three quarters, Lululemon’s direct customer business reported revenue of $ 1.56 billion, up from $ 674 million in the same period in 2019, offsetting stationary losses.

In the U.S., the sports market could reach $ 105.1 billion in sales in 2020, based on data from Euromonitor International and Coresight. That number is a 9% decrease from 2019, but companies forecast the market to grow about 6.5% annually through 2023.

Innovation, omni-guest experiences and market expansion form Lululemon’s growth strategy. The company’s goal is to double its men’s business, double its digital sales, and quadruple its international business, McDonald said.

“We’re early in our growth over all of these levers so we’re very excited about the future,” he said.

Lululemon’s shares rose 1.05% on Tuesday to close at $ 356.07. The stock is up 53.70% since the start of the year.

Toya Johnson Declares Her Fiancé Robert Speeding Has Been Identified With COVID-19 – “Get effectively quickly my love”

Toya Johnson

Roommate, sadly another celebrity was just diagnosed with COVID-19 when Toya Johnson was just confirming that her fiancé Robert Rushing tested positive for the virus. At his birthday party, Toya announced on social media that Robert would instead recover from his symptoms after contracting COVID-19.

Toya Johnson was set to celebrate the 40th birthday of her future husband Robert Rushing – but those plans will definitely have to wait after she confirmed on Instagram that he actually signed COVID-19.

https://www.instagram.com/p/CI1SqszBXq4/

Toya is not alone in dealing with a COVID-19 diagnosis occurring near home, as many were shocked (and disappointed, too) when Ashanti recently announced that she also tested positive for the virus – and therefore had to postpone it to a large extent – expected Verzuz fight against Keyshia Cole.

Ashanti, who announced that she had signed COVID-19 after hugging a family member she didn’t know had, gave fans an update that she will do everything possible to make sure she will be healthy and ready to go when she and Keyshia meet on January 19th.

Toya was celebrating her daughter Reginae Carter’s birthday with a star-studded Atlanta bash that featured some of the music industry’s biggest stars, including her ex and Reginae’s father, Lil Wayne.

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Newsmax’s Greg Kelly says there is a vital probability Donald Trump might be aware of it

Last year, Donald Trump moved away from Fox News. Sure, he’s had relationships with the likes of Sean Hannity, Tucker Carlson, and Maria Bartiromo, but overall he’s dissatisfied with his former favorite network.

More and more, Trump has been encouraging his supporters to turn off Fox and turn on channels like OAN and Newsmax. It’s no surprise either, as the personalities on these networks are far more willing to tell Trump and his supporters exactly what they want to hear.

Yesterday was a bad day for Trump. The electoral college gave Joe Biden another victory with 306 votes. A number of GOP Senators, including Mitch McConnell, are now saddened that Biden won the election.

Newsmax’s Greg Kelly says the race is far from over, however. Kelly said to the audience, “Hey, do you remember Joe Biden’s speech yesterday when he supposedly won the electoral college? He didn’t talk too much. He coughed more it seemed. “

The broadcaster continued, “A small sample of the cough and I’m worried because the way it looks for Joe and his health, I don’t think he’ll make it for Donald Trump’s second inauguration.”

Kelly concluded his chatter:

Yes, on January 20th I believe there is a significant chance that Donald Trump will be inaugurated. Now I know there are smart, informed people out there who say Joe Biden is the president-elect. Now I disagree with them, and it’s not just a guess I’ll keep going, it’s the Constitution. “

Todd Neikirk is a New Jersey-based policy and technology writer. His work has been featured on psfk.com, foxsports.com and hillreporter.com. He enjoys sports, politics, comics, and spends time with his family on the waterfront.