Analysis: As stocks soar, government shutdown looms amid pandemic

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Reuters Money Make sense of the market.       Tweet       Share Analysis: As stocks soar, government shutdown looms amid pandemic Investors worried about whether a looming government shutdown could slow U.S. stocks' recent surge can take comfort in history: markets have tended to shrug off shutdowns despite their potentially nasty economic impact. Stocks enjoy record inflows as gold loses lustre on vaccine trade: BofA Investors stepped up buying of riskier assets such as stocks last week while pulling money out of safe-haven gold, BofA said on Friday, as major vaccine breakthroughs extended hopes that economies could move closer to normality in 2021. U.S. equity funds see $6 billion weekly inflow -Lipper U.S.-based equity funds drew $6 billion in net inflows in the week ended Wednesday, according to Lipper. UBS appoints Keller-Busse to lead Swiss unit, first big move under Hamers UBS Group on Friday named Chief Operating Officer and President EMEA Sabine Keller-Busse as president of UBS Switzerland, the first big revamp since Chief Executive Ralph Hamers took the reins at the world's largest wealth manager last month. U.S. regulatory panel warns pandemic driving 'elevated' financial risks A potential wave of bankruptcies and a collapse in the commercial real estate market in the United States could weigh heavily on smaller banks, a regulatory panel said on Thursday in an assessment of risks to financial stability from the pandemic. Loeb's Third Point funds gain in November, up double-digits YTD Daniel Loeb's Third Point LLC funds posted strong gains in November to extend year-to-date returns into the double digits after the billionaire investor overhauled his portfolio and the firm a few months ago. TD Bank quarterly profit beats estimates on fewer provisions than expected Toronto-Dominion Bank reported fourth-quarter profit that beat analysts' estimates on Thursday, on lower-than-expected provisions for credit losses and as its Canadian retail business and wholesale banking income grew from a year earlier. Chinese air freight firm Apex up for sale after coronavirus boost: sources Apex Logistics has been put up for sale by MBK Partners, which hopes to lock in a valuation of more than $1 billion after the coronavirus crisis boosted the Chinese freight forwarding company's business, people close to the matter said. Related Videos 'Origin of the planets' capsule lands in Australia Tech Record Wall Street highs despite dismal jobs data Markets Now Introducing the all-new Reuters News app The new Reuters News app is here, redesigned from the ground up to fit your busy life. Get it now on iOS Your world. Your news. More Newsletters Get Reuters News App Get Reuters TV App               © 2020 Thomson Reuters. All rights reserved. 3 Times Square, New York, NY 10036 Email Preferences    |   Privacy Policy    |   Terms and Conditions