U.S. Equity Markets continued their post-election rally, finishing the day higher, led again by the NASDAQ which gained 2.58%, while S&P closed 1.94% higher. Weekly Jobless Claims were in line with last week but remained below 1 million for the tenth straight week. This points to a recovery in the job market, albeit a slow one. The Federal Reserve left Interest Rates unchanged but announced an increase in its Treasury purchases over the coming months. That should help keep Interest Rates low and support spending and growth. In addition, it said it remains ready to use its full range of tools to support the economy as necessary. Fed Chairman Jerome Powell echoed this in his post-policy meeting press conference, adding that the U.S. Economy’s recovery has moderated in recent weeks. He also expressed concern over rising case numbers in the U.S. and the impact they could have on growth. European Indices closed higher for the fourth Consecutive trading session. The British government is said to be telling doctors to prepare for a potential Coronavirus vaccine roll out before Christmas. The Bank of England increased its Quantitative Easing target by $196 billion, while leaving Interest Rates unchanged. British Chancellor of the Exchequer Rishi Sunak extended the U.K.’s programme to help furloughed workers until the end of March, as the country is going back under lockdown. Organisation of Petroleum Exporting Countries officials said Saudi Arabia and Russia are pushing members to delay production increases scheduled for January. Elsewhere, the Euro closed 1% higher versus the US Dollar, helping Gold to rally $40 for a 2.92% gain on Dollar weakness.
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