US close – stocks resume record climb on stimulus hopes, dollar drops and bitcoin volatility

US stocks are off to a nice start in December as the economy continues to see manufacturing growth, albeit at a slower pace, a bipartisan effort outlined a USD908 billion stimulus plan, and after President-elect Biden noted any stimulus bill done now will just be the beginning. Much attention came from the testimony of Fed Chair Powell and Treasury Secretary Mnuchin, which was a united front to deliver more fiscal stimulus. One of the key sticking points is support for state and local governments. It is apparent that the need for fiscal support is elevated and that more is coming possibly this month and shortly after … (full story)

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