Wall Street slips as COVID-19 stimulus delay weighs on sentiment

Wall Street’s main indexes slipped on Friday, heading for weekly losses as doubts over more COVID-19 stimulus weigh on sentiment.

Wall Street slips as COVID-19 stimulus delay weighs on sentimentReuters:

Nine of the 11 major S&P indexes were down in morning trading, with energy and financials among the biggest decliners on profit taking in economically sensitive sectors, that have risen sharply recently on COVID-19 vaccine optimism… [with] fresh business restrictions in many U.S. states and increasing layoffs, investors are counting on more fiscal relief to sustain a nascent economic recovery as most government aid has dried up.

However, alternating headlines on progress toward a stimulus deal have kept investors on edge… House Speaker Nancy Pelosi on Thursday raised the possibility of stimulus negotiations dragging on through Christmas…

The U.S. Food and Drug Administration said on Friday it was working rapidly to issue an emergency use authorization for Pfizer Inc’s COVID-19 vaccine, with the first Americans set to be immunized as early as Monday or Tuesday.

Qualcomm Inc fell 5.3% and was among the top decliners on the benchmark S&P 500, following a Bloomberg News report that Apple has started building its own cellular modem for future devices, a move that would replace components from the chipmaker.

MacDailyNews Take: As COVID-19 vaccines begin to come online, additional COVID-19 stimulus would be a boon for the U.S. economy and businesses, including Apple.


  1. APPL drops a little more than a % and they sky seems to be falling. Another report with grave tenor was released early this week after AAPL fell 2+%.

    AAPL is about 10% off ALL-TIME highs and there’s really reason to be concerned with such drops?

    With the V and the E (electors) banging the news, no wonder there’s a little volatility, but the reports lack proportionality.

  2. Amusing that Wall St.’s Capitalism gets giddy over an infusion of Marxist Socialism but I don’t blame those weak-kneed Capitalists. Their quivering gaping mouths, never satiated, are always open for the next drop of free money, equivalent to the mama bird dropping insects into her brood’s beaks. It demonstrates the inherent weakness of Capitalism.

  3. I have a feeling you were biting your lip from saying it, conversely, displays the wisdom of socialism.

    What you describe in; “weak-kneed Capitalists. Their quivering gaping mouths, never satiated,” is nothing but crony-capitalism…perverted capitalism.

    As with ANY sector/topic/realm in life, such as finances, education, religion and political systems, humans pervert and divert from ideal and such is true with the “gaping mouth” capitalist wanting more. It’s a simple perversion that transitions the system to the a socialist side of the scale…which stunts motivation/achievement, individualism & awarding via merit. It’s never satiated from looking to another wealth to make one’s own.

    In the political realm, it engenders people voting for people/policies that bring money their way and politicians that cannot say “no” to pleasing/fulfilling the constituent’s wishes.

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