CCS Business

Here are five things you must know for Friday, Dec. 4:

1. — Stock Futures Rise Ahead of U.S. Jobs Data

Stock futures traded higher Friday ahead of key labor market data and as chances have increased Congress could reach a stimulus agreement by the end of 2020.

Contracts linked to the Dow Jones Industrial Average rose 115 points, S&P 500 futures gained 11 points and Nasdaq futures were up 42 points.

Official U.S. payrolls data for November will be released later Friday and it’s expected to show that jobs growth has slowed amid a resurgence of the coronavirus. The 

By Sameer Narang

Reserve Bank of India (RBI) held its policy rate at 4%. That has been the case now in three consecutive policies. High inflation constrains the central bank from reducing policy rate any further, unlike other Emerging Markets. However, RBI had effectively used forward guidance to manage expectations in the October 2020 policy. In this policy as well, RBI reiterated that accommodative stance will continue in the current and into the next financial year.

The surplus liquidity is a result of large

Three banks, Lakshmi Vilas Bank, YES Bank, and Punjab and Maharashtra Co-operative (PMC) Bank, were placed under moratorium by Reserve Bank of India (RBI) in a little over last one year. The moratorium on Lakshmi Vilas Bank was withdrawn last week after the government sanctioned the scheme for the amalgamation of the bank with DBS Bank India Ltd. Similarly, YES Bank has also successfully been revived under the guidance of State Bank of India (

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Carnival

stock has been rallying as of late, and Chairman Micky Arison just sold a large block of shares of the cruise giant.

Carnival (ticker: CCL) stock has surged in November on upbeat data on potential coronavirus vaccines. Shares have gained 39.4% since Sept. 30, although Carnival stock remains down 58% for the year to date through Wednesday’s close. By comparison, the

S&P 500 index,

a broad measure of the market, has risen 9.1% since the end of September for a

Shares of Li Auto Inc. fell further Wednesday, quickly reversing course after the Beijing-based company reported a monthly record of deliveries in November, as the stocks of other China-based electric vehicle makers also continued pulling back.

Li Auto’s stock
LI,
-3.14%
dropped 2.9% in premarket trading, erasing an earlier gain of as much as 5.1%. That puts it on track to add to the four-day streak of losses through Tuesday, in which it tumbled 20.7%, since closing at a record $43.96 on Nov. 24.

The Bhupesh Baghel-led state government has started paddy procurement from December 1 at the support price, it has announced. Paddy procurement has been a political and social issue in the state. The state government is not allowing any kind of reduction in paddy procurement amid the Covid-19 crisis. Paddy is the major crop of Chhattisgarh, which is referred to as the Rice Bowl of India.

Farmers debt worth Rs 9,000 crores waived

The state govt has waived agricultural loans worth Rs 9,000 crores

Shares of Nio Inc. and XPeng Inc. surged Tuesday, after the China-based electric vehicle makers reported strong growth in November deliveries, with Nio’s more than doubling and XPeng’s more than quadrupling.

Nio’s stock
NIO,
-6.42%
bounced 2.2% in premarket trading, after falling 6.4% on Monday. XPeng shares
XPEV,
-8.58%
shot up 6.6% after dropping 8.6% the day before.