Stocks close flat, Goldman Sachs leads banks higher

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'We now feel very confident we will increase dramatically our production for this year up to 2 billion doses,' says Pfizer CEO AlbertBourla on COVID vaccine. 'The contract we have with the U.S. government we will be able to deliver on schedule.'

rose marginally to 3,801.19. Losses from major tech companies kept Tuesday's moves in check.

The benchmark 10-year note yield briefly traded at 1.187%, its highest level since March, before easing back to 1.13%. The 30-year bond rate climbed to 1.88%, and also reached a March 2020 high. Rates have been rising since Democrats secured majorities in both the House and Senate, opening up the door for additional fiscal stimulus. Last week, President-elect Joe Biden promised an economic stimulus rollout, which he said will be "in the trillions of dollars."

The S&P 500's forward price-to-earnings ratio was at 22.7, near its highest level since 2000. DoubleLine Capital CEO Jeffrey Gundlach pointed out on Monday that stock valuations are high relative to historical standards, and are being underpinned solely by stimulus measures from the Federal Reserve.

 

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pfizer AlbertBourla This is ridiculous. He would be more credible getting asap a shot publicly filmed given the sizeable proportion of people (although variable accdg to the country) being suspicious regarding the vaccine...

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