NASDAQ hits high, S&P rises following stimulus progress, Fed moves
In a mixed and muted day of trading, the S&P 500 rose 6.55 points, or 0.2%, to 3,701.17. It’s within roughly 1 point of its record set last week.
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United States angling to secure more of Pfizer’s coronavirus vaccine
U.S. officials say they’re actively negotiating for additional purchases of Pfizer’s coronavirus vaccine after passing up a chance to lock in a contract this summer since it was still unclear how well the shots would work.
Fed keeps rate near zero, sees brighter economy in 2021
The Federal Reserve said Wednesday that it will keep buying government bonds until the economy makes “substantial” progress—a step intended to reassure financial markets and keep long-term borrowing rates low indefinitely.
Biden introduces ex-rival Buttigieg as transportation pick
President-elect Joe Biden introduced Democratic primary rival Pete Buttigieg on Wednesday as his nominee for transportation secretary, calling the 38-year-old ex-mayor of South Bend “a new voice, with new ideas determined to move past old politics.”
Negotiators near agreement on long-delayed COVID-19 aid bill
Top congressional leaders are hoping to seal a deal as early as Wednesday that would extend aid to individuals and businesses and help ship coronavirus vaccines to millions.
Retail sales experience biggest drop in seven months
Americans held back on spending during the start of the holiday shopping season, a troubling sign for retailers and the state of the U.S. economy.
U.S. Supreme Court agrees to hear NCAA athlete compensation case
The U.S. Supreme Court on Wednesday agreed to review a court decision that the NCAA has said blurred “the line between student-athletes and professionals” by removing caps on education-related money certain football and basketball players can receive.
MacKenzie Scott, ex-wife of Bezos, gives $4.1 billion to charity
Among the recipients are five organizations in Indiana, including two in Indianapolis.
Pence lauds vaccine effort during stop at Indiana plant
Vice President Mike Pence stressed the need for Americans to stay focused on limiting the spread of the virus before a vaccine is in widespread use.
Talks escalate on new COVID-19 relief, top lawmakers to meet
Rank-and-file Democrats appear increasingly resigned to having to drop, for now, the party’s demand for fiscal relief for states and local governments whose budgets have been thrown out of balance by the pandemic.
Biden to pick Buttigieg as transportation chief, sources say
Former South Bend Mayor Pete Buttigieg, one of Biden’s rivals for the Democratic presidential nomination, was a breakout star of the primaries.
FDA allows use of over-the-counter home test for COVID-19
A company spokesperson said the test will be priced around $30 and be available at pharmacies and online. The test connects to a digital app to help users interpret the results.
Old Oaken Bucket football game called off again due to pandemic
The rivalry game between Indiana University and Purdue University, which has been played every year since 1920, was canceled for the second time in two weeks—and the third time this season.
U.S. industrial production rises 0.4% with boost from auto sector
Production of motor vehicles and parts rose 5.3% in November, the biggest monthly increase since a 31% surge in July.
Eli Lilly shares rise on Prevail acquisition, optimistic forecast
Lilly stock climbed Tuesday after the drugmaker laid out a better-than-expected revenue forecast and plans to buy a young company developing a potential Parkinson’s disease treatment.
COVID-19 vaccinations ramp up as feds weigh second provider
U.S. officials reiterated their projection that 20 million Americans will be able to get their first shots by the end of December, and 30 million more in January.
Regulators homing in on social media companies’ data collection
The Federal Trade Commission is ordering Facebook, Twitter, Amazon, TikTok’s parent and five other social media companies to provide detailed information on how they collect and use consumers’ personal data and how their practices affect children and teens.
Electoral College makes it official: Biden wins election
The presidential electors gave Joe Biden a solid majority of 306 electoral votes to Donald Trump’s 232, the same margin that Trump called a landslide when he won the White House four years ago.
U.S. Supreme Court declines to hear Indiana birth certificate case
The court declined Monday to take up an Indiana case seeking to reverse a lower court’s ruling that allows both members of same-sex couples in the state to be listed as parents on the birth certificates of their children.
U.S. agencies, companies secure networks after huge hack
The potential threat was significant enough that the Department of Homeland Security’s cybersecurity unit directed all federal agencies to remove compromised network management software and thousands of companies were expected to do the same.