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The S&P 500 registered a new record high on Wednesday, rising 0.2% as the rotation to economically sensitive stocks continued into the first week of December. Sentiment remained upbeat despite several gloomy reports. The number of US Covid-19 hospitalised patients passed 100,000 for the first time, while new cases jumped by a record 195,695, and deaths remained on the rise. On the data front, private ADP payrolls grew by 307,000 in November, well below estimates of 475,000 and at the slowest pace since July. According to the latest Federal Reserve Survey, the surge in Covid-19 cases has... Read More
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