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Good morning. Reddit traders dominate the narrative, Europe's vaccine supply worries and a new U.S. stimulus proposal. Here’s what’s moving markets.

The ascent of GameStop shares dominated last week's stock market narrative but there are few signs that volatility linked to such retail trading heralds a market-wide contagion. The Reddit-fueled surge in these equities is, however, providing those companies with a lifeline they could scarcely have imagined. Some, like American Airlines and cinema operator AMC, have the chance to sell new shares. For the hedge funds suffering against the tide of Reddit traders, their risk models made them more vulnerable to the sharp market moves. No-fee brokers like Robinhood at the center of the retail buying are now in the unenviable position of telling clients they sometimes cannot buy whatever they want.