(01 December 2020)DAILY MARKET BRIEF 1:Wall Street Bearish on Monday

<p>US equities declined on Monday, but that didn’t prevent the benchmark S&amp;P 500 index from securing the best November ever. Traders were taking profits after a robust rally fuelled by vaccine optimism. Besides this, stocks took a pause amid deteriorating tensions between the US and China. On the last day of November, the S&amp;P 500 fell 0.46%, Dow Jones dropped 0.91%, and Nasdaq declined slightly by 0.06%. Nine out of the S&amp;P’s 11 major sectors closed in the red, with the energy index slumping 5.4%. The Monday bearishness can be explained by investors’ profit-taking after a strong November, as they are waiting for fresh updates about the COVID vaccine or economic stimulus. US Health Secretary Alex Azar said that the first two vaccine products against the new coronavirus could be rolled out before Christmas. Meanwhile, Moderna’s shares jumped about 20% after it revealed that it would apply for US and European emergency authorization for its vaccine later on Monday. The US stock f</p>