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David Becker

U.S. stock prices fell on Friday as traders took profits ahead of the weekend. Investors continue to wait for the U.S. Congress to deliver a stimulus package. Most sectors in the S&P 500 index were lower, led down by Real-estate. Technology shares bucked the trend. Yields continue to rise throughout the week, putting downward pressure on interest rates sensitive sectors like real estate and utilities. Vice President Mike Pense received a Pfizer COVID vaccine in a sign to the republican base that getting a vaccine is a good idea. The U.S. current account deficit widened by more than expected while leading economic indicators rose more than anticipated. For the week, the large-cap S&P 500 index finished in the black rising approximately 0.8%.

The U.S. Current Account Deficit Widened

The U.S. current-account deficit, a measure of the nation’s debt to other countries, rose 10.6% largely in the third quarter because of an increase in the trade gap in Q2. The bigger gap reflected an increase in the deficit in goods.

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Leading Economic Indicators Beat Expectations

The leading economic index increased by 0.6% last month, according to the Conference Board. That was a bit better than Wall Street had forecast. The index had risen 0.8% in October and 0.7%.

Google is Hit with Third Major Lawsuit

Google now faces its third government antitrust lawsuit this time from a bipartisan coalition of state attorneys general. A group of 38 states and territories took part in the lawsuit, which claims Google illegally maintained a monopoly in general search and search advertising through anticompetitive conduct and contracts.

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