1，Dow Jones Industrial Average jumps 327 points. The Dow closed 327.69 points higher, or 1.18%, at 27,993.33. The S&P 500 rallied 1.27% to 3,383.54. The Nasdaq Composite advanced 1.87% to 11,056.65. A flurry of corporate deals and renewed hope around a coronavirus vaccine led to a broad market rally on Monday.
2, Some more TikTok news has landed Monday evening. Apparently, the company is bringing Sequoia Capital in to the deal as well, and handing them a stake in the US business as ByteDance plans a ‘restructuring’ of the business with its investors. Meanwhile, Sen. Josh Hawley has sent a letter to CFIUS, the Commerce Department review board, asking them to reject the “deal”, which, as we noted below, is more like a licensing contract than an asset sale.
3，Tom Cotton Calls to Revoke China’s Most Favored Nation Status. Sen. Tom Cotton (R-AR) on Monday announced new legislation calling for the United States to revoke permanent most-favored-nation (MFN) status for China and approve it on a yearly basis instead.
4，The Trump administration announced Monday that it would block shipments of certain cotton products and computer parts from the Xinjiang province in China, but is still considering a broader ban on imports from the region.
5，The Trump administration extended an olive branch to the ethanol industry Monday, announcing it has denied a number of waivers that exempt small refiners from adding the biofuel to their gasoline. The decision is a win for an industry that was hit hard by Trump’s trade war with China and has been in stiff competition with refiners to secure favorable policies from the administration.
By：【G Translators – Financial and Law Team】