UK and European stocks are flat this morning at the start of a week that will see Joe Biden sworn in as the 46th president of the United States. All fifty US states are on alert after the FBI warned of armed protests. The US stock-market is closed today for Martin Luther King, Jr. Day.
Markets were generally lower last week despite the $1.9 trillion American Rescue Plan unveiled by Joe Biden. Increasing concerns about global economic recovery seemed to outweigh any boost from the long-awaited stimulus package announcement.
Data from China showed that its GDP beat expectations, expanding 2.3% over the last year and making it the only major economy that didn’t contract over that period.
The UK is expanding its vaccine rollout efforts. As of today, the vaccine will be offered to anyone over 70.
Over the weekend, a deal between the owners of Fiat-Chrysler and Peugot was finalised, creating the fourth largest car manufacturer in the world.
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