US equity markets settled with modest gains - Dow added +60-points or +0.18%, with Boeing Co (up +5.1%) the leading index performer. However, Salesforce.com Inc fell -8.6% after the cloud-based customer relationship-management company confirmed after the close of the previous session that it would acquire Slack Technologies Inc in a cash (US$26.79 per share) and scrip (0.0776 shares of Salesforce common stock) deal worth US$27.7B. The broader S&P500 edged +0.18% higher to log its 28th record closing high (3,669.01) of 2020. Energy (up +3.15%) returned to the top of best performing primary sectors list along with Financials (+1.05%) and Communication Services (+1.01%). The technology-centric Nasdaq slipped -0.06%, unwinding earlier gains.
• Treasury Secretary Steven Mnuchin said President Trump supported a coronavirus relief proposal put forth by Republican Majority Leader Mitch McConnell after he rejected on Tuesday (1 December) a US$908B bipartisan package. It is unclear whether the measure would have the votes to pass the Democratic-controlled House of Representatives.
