Notes Today:

• Costco  (COST) November sales rose 15.1% to 15.67 billion, the retailer said Wednesday. Online sales rose 71.3% in November and 86.4% in the quarter. Stock’s down – obviously.
  

• Australia AiG Performance of Construction Index rose from previous 52.7 to 55.3 in November
• Australia Commonwealth Bank Composite PMI came in at 54.9, above expectations.

•  Bloomberg: The U.S. House of Representatives approved legislation that could lead to Chinese companies including behemoths like Alibaba and Baidu getting kicked off U.S. exchanges if Washington regulators aren’t allowed to review their financial audits. The bill easily cleared the Senate in May. Trump is expected to sign it. 

• Snowflake Inc.’s (SNOW) Shares were down 9% after-hours Wednesday. The cloud company reported a Q3 net loss of $168.9 million, versus a net loss of $88.1 million, in the year-ago quarter. Revenue more than doubled to $159.6 million from $73 YoY. 
  

• People poured an estimated $81.8 billion into equity ETFs in November. 

• The U.K. became the first western country to approve a Covid-19 vaccine, with its regulator clearing the Pfizer-BioNTech shot ahead of decisions in the U.S. and European Union. Meanwhile, U.S. hospitalizations and deaths are totally out of control.