Monday, November 23, 2020

🤓 Stocks Wobble on Vaccine Vs. Virus News

Good morning. Stocks continue oscillating as positive vaccine news is overshadowed by increased..
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. Stocks continue oscillating as positive vaccine news is overshadowed by increased economic restrictions against rising numbers of Covid-19 cases. In a typical year, the period from Thanksgiving to New Year's is one of the best times to be in the market. Stocks tend to head higher on light volume amidst holiday cheer.

It would be foolish to think that this year would follow that trend perfectly. But given that we just had a bear market in March, the odds of another massive pullback are unlikely. Tread lightly this holiday season, and look to the latest lockdown news as a clue for the market's next big swing.


Now here's the rest of the news:

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One of Tesla's "original seven" employees has beaten his former employer, creating a battery technology so powerful it can send a Tesla across country without charging — four times. It's capable of charging in eight minutes, not hours. It's on the cusp of sparking a 20,300% market surge over the next decade.

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MARKETS
DOW 29,263.48 -0.75%
S&P 3,557.54 -0.68%
NASDAQ 11,854.97 -0.42%
*As of market close
Stockss lid into the close on Friday, amid rising lockdown concerns.
Oil rallied 1 percent, closing at $42.17 per barrel.
Gold rose 0.5 percent, closing at $1,871 per ounce.
Cryptocurrencies continued higher, with Bitcoin last changing hands at $18,556..

Today's TOP TIPS
Payment Processing Companies Continue to Lead the Markets
2020 has been a solid year for payment processing companies. From added contactless features to the inclusion of cryptocurrencies, it's a space that's showing tremendous innovation over the credit card networks or traditional banks.

That's led to some massive moves higher in a number of stocks. One such rallying name has been an underperformer, but looks set to continue heading higher.

» FULL STORY

Insider Trading Report: Beazer Homes (BZH)
Christian Winkle, a director at Beazer Homes (BZH), recently bought 5,950 shares. The buy increased his holdings by 32 percent, and came to a total cost just over $82,000.

This marks the first buy from insiders this year. The last insider buys occurred in 2019. Insiders have been large sellers of shares this year, including a large sale by a director in March when prices were near their panic lows.

» FULL STORY

Unusual Options Activity: Bristol Myers-Squibb (BMY)
At least one trader is betting that pharma giant Bristol Myers-Squibb (BMY) will have a big rally in the first half of 2021. That's based on the call buying in the June 2021 $72.50 calls. The strike price of the option is about 15 percent higher than where shares currently trade at $62.

Over 2,500 contracts traded against a prior open interest of 263, a nearly 10-fold rise in volume. The buyer of the contracts paid about $1.09 on average.

» FULL STORY

IN OTHER NEWS
Pfizer seeks emergency approval for its Covid-19 vaccine.
The Federal regulator overseeing Fannie Mae and Freddie Mac looks to privatize the groups.
The Treasury Department pulls back some of the Federal Reserve's emergency lending powers.
Inflation-adjusted Thanksgiving dinner prices are expected to be 4 percent lower this year.
JPMorgan predicts first-quarter GDP will drop due to a surge in Covid cases.
Strong homebuilding demand pushes lumber prices higher during the commodity's slow season.
Gaming company Roblox files to go public.
In earnings, Sonos beats on revenues and raises its full-year forecast.
William Sonoma handily beats earnings on higher paint sales.
Foot Locker earnings come in at nearly double the forecasts.

S&P 500 MOVERS
TOP
ZM 6.109%
NTES 4.808%
CF 4.199%
ETSY 4.134%
MAC 3.583%
BOTTOM
WDAY 9.272%
NCLH 4.9%
LVS 4.542%
CCL 4.508%
DXCM 4.467%

Quote of the Day
Markets should be very comfortable that we have plenty of capacity left. I find it kind of ironic now that I'm being prudent and returning the money to Congress like I'm supposed to that people are questioning that.
- Treasury Secretary Steven Mnuchin on why the Treasury won't extend funding for various emergency Fed programs anymore, a move that may reduce market liquidity and increase the chances of volatility.

Sponsored Content
"The 12 Million-Mile Battery"
One of Tesla's "original seven" employees has beaten his former employer, creating a battery technology so powerful it can send a Tesla across country without charging — four times. It's capable of charging in eight minutes, not hours. It's on the cusp of sparking a 20,300% market surge over the next decade.

Click here for the full story.


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