Headlines discussed at LNWM’s Monday morning briefing:
— A key survey of U.S. consumer sentiment fell significantly in November — to 71.6, from nearly 82 at the end of October — on resurgence of Covid-19, election concerns and lack of new government support.
— U.S. weekly jobless claims dropped again to 709,000, less than expected, with an estimated 21 million Americans currently unemployed.
— Weekly applications for new mortgages decreased slightly — down 1% — to the levels of mid-spring 2020; refinancing was up, driven by low interest rates.
— Moderna said its Covid-19 vaccine was nearly 95% effective in Phase 3 clinical trials; plans to apply for emergency use as Covid-19 cases skyrocket in the U.S.
— Oil prices stopped rising on higher output from Libya and the U.S., along with concern that Covid-19 restrictions would hurt demand.
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