U.S Indices closed higher for the fourth consecutive trading session on vaccine news. Pharmaceutical company Pfizer and its biotechnology partner BioNtech have announced an agreement to sell 100 million doses of the Coronavirus vaccine to the U.S. Government. The agreement includes an option to buy a further 500 million doses. On the stimulus front Treasury Secretary Mnuchin said yesterday’s discussions with the Democratic Leadership made great progress and he expects a deal next week. Meanwhile Existing Home Sales surged 21% in June. The S&P and Dow both closed higher by 0.6%. European Indices declined after the European Parliament said cuts to the long-term budget were unacceptable, while UK Officials were said to be giving up on the prospects of agreeing a Trade Deal with the EU by the end of the year, by possibly indicating a ‘’Hard Brexit’’. Elsewhere, Silver’s rally extended to 19% in just three days to levels last seen in 2015, while both the Dollar and Oil closed lower.
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