Bloomberg - Evening Briefing - Covid game changer

The S&P 500 has notched a new record every day as a certain type of trader snaps up tech bets like it’s GameStop all over again. Yet in the world of equity options, there’s evidence professionals are keeping their eye on the ball—and any clouds on the horizon. Big institutions are keeping calm and carrying on, paying a decent premium to hedge the S&P 500 Index. One thing that is unsettling them, however, is the Fed—as in who will be running it. Just yesterday, President Joe Biden met with two frontrunners at the White House.  

Bloomberg is tracking the coronavirus pandemic and the progress of global vaccination efforts.

Here are today’s top stories

Pfizer said its Covid-19 pill reduced hospitalizations and deaths in high-risk patients by 89%, a result with the potential to upend how the disease caused by the coronavirus is treated. The company plans to seek U.S. authorization this month. Its shares surged as news of the game-changing pill spread. Meanwhile, Republican-controlled states sued to block the White House vaccination mandate. Here’s the latest on the pandemic. 

The October jobs report showed a better-than-expected pick-up in U.S. hiring, but one key indicator points to a tougher time ahead for employers.

Peloton founder John Foley’s stint as a billionaire has ended—at least for now. His net worth fell to about $850 million Friday as shares of the fitness-equipment maker tumbled as much as 34%. Why? The company cut its annual revenue forecast by as much as $1 billion.

John Foley  Photographer: Christopher Goodney/Bloomberg

In a first-of-its-kind survey from the U.S. Census Bureau, almost one-quarter of LGBTQ people reported losing income during the pandemic, a higher share than non-LGTBQ respondents

China’s property developers are struggling to pay bills that many of their bond investors didn’t know were there in the first place. Missed payments on off-balance sheet IOUs such as high-yield consumer products, secretive loans and private bond guarantees have rocked China’s credit market. 

A company owned by the Chinese government is looking to take over Hong Kong’s influential South China Morning Post. At the same time, half of the city’s journalists are considering leaving following Beijing’s crackdown on free speech, press and assembly there. 

After ignoring calls from the U.S. to expand output, Saudi Arabia went even further in the other direction, sharply raising the price of crude.

Saudi Crown Prince Mohammed bin Salman  Photographer: Abaca Press/AP

What you’ll need to know tomorrow

Gift Guide: Almost 100 Elegant Holiday Choices

This is the second holiday season darkened by the pandemic, so this year’s mission at Bloomberg Pursuits is to bring some extra joy to the tokens we give our loved ones. How? Well, by picking presents that come with a bright, happy hue. Here’s a shopping guide that highlights 96 vibrant ways to lighten these dark times.

The Dior Caro Micro Bag

Older messages

Wall Street gets nervous

Thursday, November 4, 2021

View in browser Bloomberg The job crunch has managed to reveal some interesting things about how companies in America work—or don't. Take Dave Helminski, a driver for United Parcel Service. Next

The $22 trillion ‘bubble’

Wednesday, November 3, 2021

View in browser Bloomberg Tapering is here, rate hikes not so much. After announcing a start to reducing bond purchases made to prop up the US economy, Fed Chair Jerome Powell said officials will

Peak supply chain

Tuesday, November 2, 2021

View in browser Bloomberg The global economy came to a sudden, violent stop last year thanks to the arrival of Covid-19 and the shutdowns that followed. As the months wore on, nations, states and

Five million dead

Monday, November 1, 2021

View in browser Bloomberg US President Joe Biden departed for Europe last week, leaving behind an outline for an agreement on his economic plan—perhaps in the hopes that Congress might approve it while

The planet’s ‘last best hope’

Saturday, October 30, 2021

View in browser Bloomberg Follow Us Get the newsletter It's been a long time coming, but Great Britain is about to feel the heat of unintended consequences first set in motion by the Industrial

You Might Also Like

🇨🇳 The US is out, China is in

Tuesday, March 11, 2025

Citigroup's forecast for US and Chinese stocks, Lego stacked bricks, and Boeing's investigation | Finimize Hi Reader, here's what you need to know for March 12th in 3:10 minutes. Citigroup

The Under-the-Radar Threat to Your Retirement

Tuesday, March 11, 2025

Nearly half of older adults are burdened by bad debt ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌

15 Years Since We Bought Our Toxic Asset

Tuesday, March 11, 2025

In a new Planet Money plus episode, former Planet Money hosts David Kestenbaum and Chana Joffe-Walt look back at a pioneering series that sought to explain a major source of the 2008 financial crisis.

👋 Investors ditched the S&P 500

Monday, March 10, 2025

The US president didn't rule out a recession, but TSMC eased some of investors' other worries | Finimize Hi Reader, here's what you need to know for March 11th in 3:07 minutes. TSMC's

💳 Find a new credit card

Monday, March 10, 2025

Let's get those rewards ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌

Text and Telos

Monday, March 10, 2025

Plus! Diff Jobs; Scaling; Retail Investors; Comparative Advantage; Transaction Costs and Corporate Structure; DeepSeek Governance Text and Telos By Byrne Hobart • 10 Mar 2025 View in browser View in

Longreads + Open Thread

Saturday, March 8, 2025

Personal Essays, Lies, Popes, GPT-4.5, Banks, Buy-and-Hold, Advanced Portfolio Management, Trade, Karp Longreads + Open Thread By Byrne Hobart • 8 Mar 2025 View in browser View in browser Longreads

💸 A $24 billion grocery haul

Friday, March 7, 2025

Walgreens landed in a shopping basket, crypto investors felt pranked by the president, and a burger made of skin | Finimize Hi Reader, here's what you need to know for March 8th in 3:11 minutes.

The financial toll of a divorce can be devastating

Friday, March 7, 2025

Here are some options to get back on track ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌

Too Big To Fail?

Friday, March 7, 2025

Revisiting Millennium and Multi-Manager Hedge Funds ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏