U.S. Equity Markets continued their choppy week, finishing the day higher after yet another reversal from a quick sell-off, led by the NASDAQ 100 which closed higher by 0.58%. Markets were mixed as investors digested Jobless Claims data. Jobless Claims fell from last week’s revised level to 793,000. While this was the fourth straight week of declines, it came in above the Wall Street estimate. And the four-week moving average continued to decline. This was another incremental positive for the job market’s recovery. Stimulus headlines remained quiet, but House Speaker Nancy Pelosi said that the final stimulus bill should be signed by the end of the month. Earnings season also comes to its unofficial end this afternoon with Disney’s report, but the strong reports for the fourth quarter continue to support the thesis for a market move higher. European Markets also closed higher. European Commission President Ursula von der Leyen discussed plans with the members of European Parliament for acquiring more vaccine doses and upping inoculations. The German government extended coronavirus-related social-distancing restrictions until at least March 7, but said States may decide on when to reopen schools. Pharmaceutical giant AstraZeneca said it has enlisted German drug manufacturer IDT Biologika to ramp up production of its coronavirus vaccine and increase supply to Europe. European Union Coronavirus vaccinations rose to 18.6 million yesterday, with a daily average of 627,000 doses administered over the last week. At this slow rate it will take over two years to vaccine the European Population. Elsewhere, Oil closed 1.24% lower on profit-taking after its recent run to its highest level in more than a year, while Gold also fell after a mixed session.
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