U.S. equity markets split today as the S&P 500 retreated from a new all-time high on news that Pfizer will only be able to ship half of the vaccine doses it previously planned to distribute. The Dow Industrial charged higher behind shares of Boeing, which took its first order for its 737 MAX jets. Airlines and cruise lines were among today’s top gainers and gold prices shot higher as the U.S. hit another daily record for COVID-19 cases and deaths.
Weekly U.S. jobless claims came in lower than expected, but were still above 700,000 as layoffs continue across the country. We’ll learn more about the health of the labor market when the November nonfarm payrolls report is released Friday morning. Economists expect around 450,000 jobs to have been added last month and another drop in the unemployment rate, but there will still be more than 9.5 million Americans out of work. Read more…..
Chart of the Day
A food desert is an area with low-access to healthy and affordable food. About 19 million people in America live in a food desert, and it disproportionately affects Black communities. Despite nationwide efforts to improve poor food environments, many of the biggest names in America’s grocery industry continue to avoid these neighborhoods.