November 9, 2020

Coronavirus latest: Biden cautious on timing of vaccine rollout

US president-elect Joe Biden plans to name a task force to deal with the coronavirus pandemic before he takes office as he tries to get a grip on the more than 100,000 new cases a day reported nationwide. He is expected on Monday to announce a 12-member team to tackle the virus.

Mark Meadows, the White House chief of staff, contracted Covid-19 just weeks after US president Donald Trump came down with the virus. Mr Meadows, a former North Carolina congressman, was diagnosed one day after the November 3 election, according to a former senior White House official.

Growth in China’s exports jumped to its highest level in more than a year and a half in October. Exports from the world’s second-biggest economy beat analysts’ expectations to rise 11.4 per cent year-on-year during the month, official data showed on Saturday, the strongest growth rate since March 2019.

The number of Canadians with severe forms of Covid-19 continues to rise, according to its chief medical officer. Theresa Tam said at the weekend that 1,200 people with Covid-19 were being treated in hospitals in the week ending November 5, up from 1,107 the previous week and 1,010 the week before.

E-brokers report outages as Dow jumps 1,000 points in vaccine rally

A pedestrian holding an umbrella walks past a Charles Schwab office in New York.

Scott Eells | Bloomberg | Getty Images

Stocks are surging on Monday but some customers of online brokers Charles Schwab, TD Ameritrade, Vanguard and others could be missing out on the record market highs.

E-brokers are experiencing technical issues with their trading systems while the Dow Jones Industrial Average and S&P 500 hit all-time highs from optimism around a Covid-19 vaccine. It was so far unclear how many customers of the brokers were unable to get timely access and make trades.

“Due to a technical issue, clients may have difficulty logging in to website and mobile apps. We’re working to resolve this issue as quickly as possible. Hold times may be longer than usual,” Schwab Vice President of Trading and Derivatives Randy Frederick tweeted shortly after the opening bell.

U.S. equities are soaring after pharmaceutical giant Pfizer and German biotech firm BioNTech announced that their Covid-19 vaccine was more than 90{6b17707e448e34f54d6d1a9e433426abf2addbba8938cba1c35a09fc0ada7803} effective in preventing Covid-19 during trials. The Dow Jones Industrial Average traded more than 1,300 points higher, or 4.7{6b17707e448e34f54d6d1a9e433426abf2addbba8938cba1c35a09fc0ada7803} and hit an all-time high. The S&P 500 also reached a record, gaining more than