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MarketWatchDec 03, 2020
NewsWatch: Dow pulls back from record, S&P 500 finishes lower on doubt about vaccine distribution
U.S. stocks finished mostly higher Thursday, but pulled back from record intraday highs on a report of distribution issues with Pfizer's coronavirus vaccine.

MarketWatch MarketPulseDec 03, 2020
Dow loses momentum and S&P 500 ends lower in last hour of trade Thursday as Pfizer said to slash rollout target for COVID-19 vaccine
U.S. stocks finished mostly higher but lost momentum within Thursday's final hour of trade after the Wall Street Journal reported that Pfizer Inc. expects to ship half of the COVID vaccines it originally planned for this year because of supply-chain problems, but still expects to roll out more than a billion doses in 2021. The Dow Jones Industrial Average closed up 0.3% at around 29,969, but off its best levels Thursday at 30,110.88, pushing it below a closing record. The S&P 500 index finished 0.1% lower at 3,667, off its intraday high at 3,682.73, while the Nasdaq Composite Index [: COMP] rose 0.2% at 12,377, but well off its best level at 12,439.02. Markets had surged higher on Thursday U.S. stock indexes took a leg higher on the session after the U.S. Senate Majority Leader Mitch McConnell said reaching a compromise on another coronavirus fiscal package was possible, as long as Democrats moved toward Republican positions, offering some hope of progress toward a fiscal pact for bullish investors.

Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.



MarketWatch MarketPulseDec 03, 2020
Ollie's Bargain Outlet stock falls 10% after Q3 earnings
Shares of Ollie's Bargain Outlet Holdings Inc. fell more than 10% in the extended session Thursday after the grocer reported fiscal third-quarter sales and adjusted profit that topped Wall Street expectations, benefiting from increased consumer spending during the pandemic. Ollie's said it earned $45.2 million, or 68 cents a share, in the quarter, compared with $27 million, or 41 cents a share, in the third quarter of fiscal 2019. Adjusted for one-time items, the company earned 65 cents a share. Net sales increased 27% to $414.4 million, the company said, with same-store sales rising 15.3% thanks to "robust" growth during the quarter due to "a significantly larger average basket and higher transactions." The company did not provide guidance. Analysts polled by FactSet had expected Ollie to report adjusted earnings of 58 cents a share on sales of $406 million. Same-store sales were seen rising 12%. Shares of Ollie's ended the regular trading day up 3.3%.

Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.



MarketWatchDec 03, 2020
Market Snapshot: Dow pulls back from record, S&P 500 finishes lower on doubt about vaccine distribution
U.S. stocks finished mostly higher Thursday, but pulled back from record intraday highs on a report of distribution issues with Pfizer's coronavirus vaccine.

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MarketWatch MarketPulseDec 03, 2020
Movie theater stocks tumble, as Warner Bros. to release all 2021 movies in theaters and online at same time
Shares of movie theater operators tumbled Thursday, AT&T Inc.'s Warner Bros. said it will release all of its 2021 files simultaneously in theaters and its HBO Max streaming service, as The Wall Street Journal reported. AMC Entertainment Holdings Inc.'s stock sank 18.1% in afternoon trading. Also weighing on AMC shares, the company filed for the sale of up to 200 million Class A shares, which at current prices would be valued at more than AMC's current market capitalization. Elsewhere, shares of Cinemark Holdings Inc. slumped 18.9% and Imax Corp. shed 7.7%. The selloffs come on a day that the S&P 500 rose 0.2% toward a record close. Meanwhile, AT&T shares tacked on 0.2%.

Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.



MarketWatch MarketPulseDec 03, 2020
Biden confirms BlackRock exec Deese will lead his White House economic team
President-elect Joe Biden on Thursday said Brian Deese is his pick for director of the National Economic Council. News of the pick had leaked out in recent days. The director of the NEC typically serves as a gatekeeper, bringing together all economic-policy decisions facing an administration. The post doesn't require Senate confirmation. Deese worked as the NEC's deputy director during the Obama administration and more recently has been an executive at BlackRock Inc., the world's largest money manager. "Brian is among the most tested and accomplished public servants in the country -- a trusted voice I can count on to help us end the ongoing economic crisis, build a better economy that deals everybody in, and take on the existential threat of climate change in a way that creates good-paying American jobs," Biden said in a statement.

Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.



MarketWatch MarketPulseDec 03, 2020
Southwest tells employees it could furlough thousands next year
Southwest Airlines Co. on Thursday told more than 6,800 employees that their jobs are at risk without concessions from labor unions or federal aid as the pandemic continues to cut demand for air travel, the Wall Street Journal reported. The furloughs, if they come to pass, would be a first in Southwest's history, the report said. Shares of Southwest rose more than 2% Thursday and are down around 10% this year, contrasting with gains around 14% for the S&P 500 index.

Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.



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MarketWatch MarketPulseDec 03, 2020
Coronavirus tally: Global cases of COVID-19 above 64.5 million, and U.S. sets record one-day death toll of 2,885
The global tally for confirmed cases of the coronavirus that causes COVID-19 rose above 64.5 million on Thursday, according to data aggregated by Johns Hopkins University, while the death toll rose above 1.49 million. The U.S. has the highest case tally in the world at 13.9 million and the highest death toll at 273,847 or more than a fifth of the global total. The U.S. counted 199,988 new cases on Wednesday, and at least 2,885 people died, according to a New York Times tracker, the most in a single day since the start of the outbreak. In the last week, the U.S. has averaged 164,024 cases a day. There were a record 100,226 COVID-19 patients in U.S. hospitals on Wednesday, according to the COVID Tracking Project, topping Tuesday's record of 98,691. Brazil has the second highest death toll at 174,515 and is third by cases at 6.4 million. India is second worldwide in cases with 9.5 million, and third in deaths at 138,648. Mexico has the fourth highest death toll at 107,565 and 11th highest case tally at 1.13 million. The U.K has 59,796 deaths, the highest in Europe and fifth highest in the world, and 1.66 million cases, or seventh highest in the world.

Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.



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