Lawmakers Reach $900bn Stimulus Deal As UK Hit By New Coronavirus Strain

Chicago Fed national activity index: The Chicago Fed national activity index is a monthly index that aims to gauge economic activity and inflationary pressure across the US. It combines 85 monthly indicators, with a positive reading indicating a growth rate above trend, and a negative index corresponding to growth below trend. November’s index reading will be released on Monday, with a decline from 0.83 in October to 0.4 expected by economists, according to Trading Economics. Investors will be watching the index for further signs of the state the US economic recovery is in.

Crunch time for Brexit talks

There were reports last week that a path to a Brexit trade deal before the end of year deadline, albeit a narrow one, still remains. But this week is very much crunch time for the UK, particularly as the parties involved said terms would need to have been agreed by Sunday December 20th in order to be voted on by the end of the year. Investors will be watching for movement on the key remaining issues this week, such as fishing rights, as well as statements from negotiators on both sides detailing whether paths to a deal still remain.

Crypto corner: Musk asks about Tesla bitcoin transfer as cryptoasset sets new peak

Tesla founder and billionaire Elon Musk enquired publicly about converting Tesla’s share capital into bitcoin (BITCOMP) overnight, after being approached by an analyst via social media platform Twitter. On Sunday, Musk was addressed directly by bitcoin proponent and MicroStrategy founder Michael Saylor. Saylor advised the Tesla CEO to buy a significant amount of bitcoin, claiming it could earn billions for Tesla’s shareholders.

He also claimed other major US firms on the S&P 500 stock market index could follow suit and boost Bitcoin’s value further. Musk responded by asking the bitcoin enthusiast whether transactions on such a scale are “even possible”, according to reports.

Prior to this exchange, bitcoin had already jumped above $24,000 over the weekend as the cryptoasset’s mind-boggling run upwards continues. Peaking at $24,195, Bitcoin dipped back below this level in morning trading, although it remains at $23,875 per coin, equating to a return above 500% from lows.

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