U.S. equity markets rose as the Dow Jones Industrial Average reclaimed the 30,000 level after weekly jobless claims declined and as Congress grapples over COVID-19 aid and investors await details on the distribution of a vaccine.


The Dow rose over 100 points or 0.3%, while the S&P 500 and the Nasdaq Composite, on pace for fresh records, gained 0.06% and 0.5%, respectively.

ECONOMIC CATALYSTS 

Several economic catalysts; weekly jobless claims came in better than expected, totaling 712,000 last week. Economists surveyed by Refinitiv expected 775,000 new claims.

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And the ISM Non-Manufacturing PMI for November expanded for the sixth straight month at 55.9, while the PMI was revised higher to 58.4. Both continue to signal an economy that is improving.

COVID-19 STIMULUS PROGRESS

On the stimulus front, House Speaker Nancy Pelosi of California and Senate Minority Leader Chuck Schumer of New York, both Democrats, in a joint statement called the proposal a starting point, but Senate Majority Leader Mitch McConnell of Kentucky, a Republican, has suggested a $500 billion package would be more appropriate. Read more at FOX Business