President Donald Trump threw Congress a curveball when he expressed unhappinesswith the stimulus package that passed through both legislative chambers on Monday. He demanded payments to individuals be increased to $2,000 from $600, something House Speaker Nancy Pelosi welcomed, adding that Democrats were ready to bring it to the House. Trump didn't say he would veto the bill as it currently stands, and he has until Dec. 28 to sign it.
The SEC will allow companies to raise new capital through direct listings, whereby a company floats its shares on a stock exchange, but without hiring banks to underwrite the transaction like in an IPO. Until now, companies have only been allowed to use direct listings to sell existing shares, limiting the process to a small number of cash-rich companies like Palantir which went public in September.
Brexit trade talks are said to be hanging in the balance once again as officials try to wrap up negotiations today, with the U.K. only a week away from leaving the single market. Discussions are still hung up over fishing rights, though the other two issues, a competitive playing field and enforcement of a deal, seem to have been resolved. Meanwhile, France is reopening its borders with the U.K. for truck drivers who test negative for COVID-19 following a two-day shutdown caused by the new coronavirus variant in England. Some U.K. officials are even speculating that France closed its borders to give a taste of what would happen if there was a no-deal Brexit.
With Northwest Quadrant Wealth Management a Registered Investment Advisor I am Josh Fenili.