- Global shares rallied early on Wednesday and oil was off its 11-year lows ahead of a data-heavy day for the U.S. The Bureau of Economic Analysis inadvertently released figures on U.S. personal consumption, which were in line with expectations in November, posting a monthly increase of 0.3%. The full data will be released at 08:30 a.m. ET.
- Action Alerts PLUS portfolio name Apple (AAPL) has changed its rules to allow shareholders to nominate board members, the Financial Times reports. Investors will be able to nominate a board member if they have held at least 3% of the company's shares for at least three years.
- Quarter-on-quarter economic growth in the U.K. was slightly revised down for the third quarter to 0.4% in the third and final reading, vs. the 0.5% in a previous estimate published a month ago. Year-on-year growth was revised down by 0.2 percentage points to 2.1%.
- Italy's industrial sector enjoyed a strong October, data show. Industrial orders rose by 4.6% in the month, reversing September's 2.1% fall, while industrial sales increased by 2%.
- Growth Seeker portfolio holding Amazon.com (AMZN) seeks to ease its ties with parcel delivery firm United Parcel Service (UPS) as it counts shipping costs as its fastest-rising expense, the Wall Street Journal reports.
More from U.S. Equity
The bounce in the DJIA hasn't produced the shortest bear market in history or a new bull market.
Some industries and the economy will take longer to restart than a lot of the pundits and administration believe.
This just a very large countertrend bounce. Look for a sizable pullback and then some very choppy and sloppy action.
Profiting from Zoom, adding to Verizon and watching Microsoft as we wait for data on employment and how the fiscal support bill will play out.