For a few brief moments today, stocks rallied to record highs and all was fixed in the world as leaked “scoops” suggested Mitch McConnell was readying a $900bn COVID Relief Bill that might just work… but then that was dismissed and algos refocused on disappointing vaccine headlines once again…
- 1154ET SOME STATES’ COVID VACCINE ESTIMATES USED OUTDATED FIGURES, STATE FIGURES ASSUMED MORE PFIZER SHOTS WOULD BE AVAILABLE” HHS
- 1200ET McConnell re-evaluating liability protection, to announce $900bn bill at 3pm
- 1215ET McConnell will not be announcing bill at 3pm
Here’s what that looked like in markets. Nasdaq held gains while Dow and S&P were red with Small Caps trying hard to eke out some gains.
The Dow battled for 30k in the afternoon before the late-day buying-panic hit.