Stocks Dump ‘N’ Pump: McConnell Said To Unveil $900BN Stimulus At 3PM, Undoing Vaccine News Dip

Last week’s confusing headlines about vaccine availability sparked selling in stocks and it appears the same is happening today as Bloomberg reports HHS:

• *SOME STATES’ COVID VACCINE ESTIMATES USED OUTDATED FIGURES: HHS

• *STATE FIGURES ASSUMED MORE PFIZER SHOTS WOULD BE AVAILABLE

And that sent stocks lower…

Notably, HHS Secretary Azar said yesterday that any American who wants one could get vaccinated by the start of the second quarter.

But this drop did not last long as reports broke that Mitch McConnell was re-evaluating liability protections in order to ease a quick passage of a relief bill… which he is reportedly going to unveil as part of a $900 billion deal at 3pmET…

SCOOP via @LJMoynihan — @senatemajldr preparing to unveil GOP stimulus around 3pm, sized at around $900B BUT unclear if McConnell will keep his demand for #COVID19 biz liability protections. GOP advisers say he’s re-evaluating liability protections for quick passage. Developing

— Charles Gasparino (@CGasparino) December 7, 2020

And stocks bounced back…

Bear in mind that just a few minutes ago, we heard there were still majot sticking points:

Bipartisan group had wanted to unveil $908B bill text today, but some significant sticking points remain — namely lawsuit protections for businesses and workers that Republicans are demanding and aid to state and local governments that Democrats have been seeking, sources say

— Manu Raju (@mkraju) December 7, 2020

Will the GOP fold on state/local bailouts after all this?

Still along time yet before 3pm for algos to play.