US stocks dip as stimulus talks slow ahead of funding deadline

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US stocks declined on Friday as stimulation talks slowed before a government financing deadline.Democrats and Republicans stayed gridlocked on dueling stimulation tips, with main sticking points including liability protections for businesses and an extension of federal unemployment benefits.A financing bill must be passed until midnight to avoid a government shutdown. Watch major indicators update live here.

US stocks declined on Friday as stimulation talks stayed in limbo as a government shutdown deadline is fast approaching.

Congress has until midnight to pass a financing bill to avoid a government shutdown. The House passed a stopgap spending bill , and its now up to the Senate to pass the bill.

Meanwhile, stimulation talks stay gridlocked as dueling proposals emphasize a rift between Republicans and Democrats. Republicans need the addition of wide liability protections for businesses from COVID-19 related lawsuits, while Democrats need an extension of federal unemployment benefits.

This is where US indicators stood shortly after the 9:30 a.m. ET available on Friday:

S&P 500: 3,652.23, down 0.4percent Dow Jones industrial average: 29,912.27, down 0.3% (87 points)Nasdaq composite: 12,345.34, down 0.5percent

Read more: 5 Wall Street firms – including the world’s largest money manager – share their 2021 outlooks for the stock market and where they are recommending that clients invest in the year ahead

Shares of Pfizer perked up 2% in on Friday as the Business’s COVID-19 vaccine nears emergency use authorization in the FDA. The choice is expected later now and Health and Human Services secretary Alex Azar said vaccinations may start as early as Monday.

Disney wowed investors in its analyst day on Thursday, leading to a surge in its inventory on Friday. The company said it plans to triple its Disney+ subscriber base by 2024, also declared that the slate of new material it hopes will drive customer adoption of this streaming support.

Nio joined Tesla in benefiting from its meteoric stock rise and declared a planned offering. The Chinese-based EV business will market 60 million shares to fund research and development projects and expand its sales and support network. Shares fell sharply.

Read more: ‘Who’s going to catch them?’ : A Tesla analyst that once covered Intel breaks down the similarities he sees in both disruptive companies – and stocks why the stock has the potential to soar another 30%

Friday will wrap up a busy week for IPOs, with high profile debuts in Airbnb and DoorDash leading to a spike in their stock price on first day of trades.

Oil prices edged lower. West Texas Intermediate crude fell as much as 0.9 percent, to $46.37 per barrel. Brent crude, oil’s international benchmark, fell 0.9 percent, to $49.80 per barrel, in intraday lows.

Gold climbed as much as 0.3 percent, to $1,842.66 each ounce.

Read more: 2 investment chiefs in John Hancock’s $692 billion investing arm say the post-COVID recovery could disappoint in 2021 – but traders may profit with these 3 strategies

Read the first article on Business Insider

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