Wednesday, November 18, 2020

🌫️ Stocks Take a Breather as Wall Street Gets Bullish

Good morning. Nothing ever moves in a straight line, particularly the stock market. Despite the good
It's the monthly jobs numbers today and they're not going to be pretty and will be possibly the tip of the iceberg as we head into May.
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Good morning. Nothing ever moves in a straight line, particularly the stock market. Despite the good news of a second Covid vaccine, manufacturing and delivery will take several months. That's likely why the market will be prone to some pullbacks.

However, traders are already starting to look ahead to 2021. With the election over and a vaccine being delivered, there's a strong possibility of growth in areas that still remain at reduced capacity. Expect some bullish numbers out there—analysts usually overstate an existing trend, and going into the end of the year, things are looking up overall.


Now here's the rest of the news:

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MARKETS
DOW 29,78.35 -0.56%
S&P 3,609.53 -0.48%
NASDAQ 11,899.34 -0.21%
*As of market close
Stocks pulled back on Tuesday, following their pop higher on a Covid vaccine Monday.
Oil traded up 0.2 percent, closing at $41.41 per barrel.
Gold declined 0.3 percent, closing at $1,881 per ounce.
Cryptocurrencies continued their rally, with Bitcoin last trading at $17,620.

Today's TOP TIPS
This Structural Change Could Lead to a Further 10-15 Percent Rally in this Tech Giant
The stock market is the amalgamation of individual stocks. However, not all stocks are created equal. How a stock is weighted in am index can have a huge impact on the overall returns. That's why swings in big tech names can increasingly move the market as a whole, up or down.

Another factor is whether or not to include a stock in an index. Different indices have different requirements, such as a number of quarters of profitability, before they can be included.

» FULL STORY

Insider Trading Report: Avis Budget Group (CAR)
SRS Investment Management, a major holder at Avis Budget Group (CAR), added to their stake with a 149,796 share buy. The purchase increased the fund's stake in the company by 0.8 percent, and came to a total cost of just over $5.36 million.

This marks the fund's first purchase in over two months. Besides being a regular buyer throughout the past few months, a number of directors bought shares in March.

» FULL STORY

Unusual Options Activity: Palantir (PLTR)
Big data company Palantir (PLTR), which recently went public, has seen shares rise from an initial price near $9 to over $17 in recent sessions. At least one trader sees that uptrend continuing for some time.

That's based on the March 2021 $18 calls. These near-the-money options saw over 6,000 contracts trade hands, a 55-fold surge from the prior open interest of 109. The trader paid about $3.10 for the calls on average.

» FULL STORY

IN OTHER NEWS
Retail sales rose 0.3 percent in October, below expectations of 0.5 percent.
The Federal Reserve is prepared to buy more bonds if a Covid wave strikes this winter.
Tech giants face a grilling in Congress over election coverage.
Shares of Tesla Motors rally as the company finally gets the nod to join the S&P 500.
The SEC seeks a plan for Chinese firms to use U.S. auditors if trading on a U.S. exchange.
Amazon finally launches its prescription medicine delivery service, Amazon Pharmacy.
George Soros buys 18.5 million shares of secretive big data firm Palantir following its IPO.
In earnings, Walmart beats on a 79 percent rise in e-commerce sales.
Home Depot beats on earnings, but shares drop on higher employee costs.
In its pre-IPO filing, Airbnb reports a profit in the third quarter thanks to cut costs.

S&P 500 MOVERS
TOP
M 9.726%
TSLA 8.214%
SLG 6.279%
RL 6%
VNT 5.256%
BOTTOM
WBA 9.626%
CVS 8.616%
BSX 7.889%
CAH 6.482%
MCK 5.456%

Quote of the Day
The forty percent of your portfolio that is supposed to be in bonds is broken. No one wants to own bonds with rates this low.
- Jan van Eck of, CEO of VanEck Associates, on why investors are getting out of bonds and into stocks with interest rates so low, and why the 60/40 portfolio allocation model is broken until interest rates are meaningfully higher.

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