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Daily Scoop 12-21

Daily Scoop 12-21

👋 Your Tuesday Scoops - Alzheimer’s drug pricing & Rivian's electric struggles

December 21, 2021

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Today's Scoop:Relief

Big Picture

The new omicron variant has already become the dominant strain across the country.
President Biden promised increased testing and medical resources.
The $2T social and climate infrastructure spending bill is in danger.

The Market

⬆️

+1.8%

S&P 500: 4,649.23

1Mo:

-1%

| 1Yr:

+26%

| 5Yr:

+105%

Markets recovered today from a string of negative sessions.

President Biden did his best to calm nerves around the new variant

, announcing plans to allocate additional medical staff to support hospitals and make free testing kits available. The omicron variant was first discovered in California on December 1st, and now the CDC has reported the

omicron variant makes up 73% of US cases

as of Friday. Democrats promised to

keep working on President Biden's strategic $2T Build Back Better

social & climate stimulus bill after a key Senator dissented on its passage. The good news in the Northern Hemisphere is that we'll get a little

more sunshine each day now until June.

Company Scoops ❤🌎💰

(Click to dig in & vote your reaction, see how others feel)

Biogen's

back-tracking on its $56K Alzheimer's drug

Spotify's

making more big podcast moves

Darden's

restaurants are back in action

Rivian's

struggling to get its EV production going

Oracle's

buying its way into the cloud

(These links only work for 24 hours while the story is live)

🤓 Inside Scoop...

You might hear CNBC talking about a "Santa Rally" this week. According to the

Stock Trader's Almanac,

the stock market has had a positive return in the week leading up to Christmas more than 75% of the time. Despite seeming like it has a mind of its own, the stock market is powered by people. It's very emotionally driven and responds to the people making the trades.