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Here’s the most important news, trends and analysis that investors need to start their trading day:
1. Dow on track for best month in over 33 years
A Wall Street sign is seen near the New York Stock Exchange (NYSE) in the financial district in New York, November 24, 2020.
Brendan McDermid | Reuters
Bitcoin bounced Monday to more than $18,600 after a weekend rebound. The world’s biggest cryptocurrency hit a record high last Wednesday above $19,000 before plunging about 13% the next day and basically trading sideways Friday. Bitcoin, at its 2020 all-time high, logged a year-to-date gain of about 150%, emerging as a top gainer during the pandemic.
Shares of IHS Markit gained 7% in the premarket after the analytics firm agreed to be purchased by data giant S&P Global in a deal worth $44 billion, including debt, the biggest merger of 2020 in a year marked by the Covid-19 crisis. In fact, deal-making touched a record high in the September quarter, with more than $1 trillion worth of transactions.
2. Moderna plans to seek FDA emergency approval
Researchers work in a lab run by Moderna Inc, who said November 16, 2020 that its experimental vaccine was 94.5% effective in preventing COVID-19 based on interim data from a late-stage clinical trial, in an undated photograph.
MODERNA INC | via Reuters
3. Trump to reportedly add two Chinese firms to defense blacklist
President Donald Trump meets with China’s President Xi Jinping at the start of their bilateral meeting at the G20 leaders summit in Osaka, Japan, June 29, 2019.
Kevin Lemarque | Reuters
The Trump administration is poised to add China’s top chipmaker SMIC and national offshore oil and gas producer Cnooc to a blacklist of alleged Chinese military companies, according to a Reuters report, citing a document and sources. A recent executive order issued by President Donald Trump would prevent U.S. investors from buying securities of such Chinese firms starting late next year. However, Trump won’t be president when the order kicks in. It will be up to President-elect Joe Biden to decide whether to keep it and other U.S. actions aimed at Chinese tech companies and at curbing what the Trump administration considers unfair China trade practices.
4. Biden gets ready to expand his economic team
U.S. President-elect Joe Biden delivers a pre-Thanksgiving speech at his transition headquarters in Wilmington, Delaware, November 25, 2020.
Joshua Roberts | Reuters
5. Birx hopes to brief Biden soon while Fauci warns about holidays
Coronavirus Response Coordinator Dr. Deborah Birx (R) speaks with US President Donald Trump and Director of the National Institute of Allergy and Infectious Diseases Dr. Anthony Fauci during a Coronavirus Task Force press briefing in the Rose Garden of the White House in Washington, DC, on March 29, 2020.
Jim Watson | AFP | Getty Images
— NBC News, Reuters and The Associated Press contributed to this report. Follow all the developments on Wall Street in real-time with CNBC Pro’s live markets blog. Get the latest on the pandemic with our coronavirus blog.
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