Wednesday, December 9, 2020

🙌 The Covid Vaccine is Here

Good morning. In the new shot heard 'round the world, 90-year-old UK citizen Margaret Keenan..
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.In the new shot heard 'round the world, 90-year-old UK citizen Margaret Keenan became the first Briton to receive the Pfizer vaccine or Covid-19. While a full rollout will still take time—and needs to head across the pond to the United States, it's a sign that a return to normal is in sight.

With a stock market near all-time highs, high but declining unemployment, and concerns over a second wave of lockdowns first, the news couldn't come at a better time. What's even more remarkable about the achievement is the speed at which it occurred. Covid-19 was only first identified just under one year ago this month.


Now here's the rest of the news:

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MARKETS
DOW 30,173.88 +0.35%
S&P 3,702.25 +0.28%
NASDAQ 12,582.77 +0.50%
*As of market close
Stocks rose on Tuesday, shaking off early morning losses.
Oil prices traded flat, closing at $45.67 per barrel.
Gold rose 0.4 percent, ending at $1,874 per ounce.
Cryptocurrencies generally declined, with Bitcoin changing hands at $18,731.

Today's TOP TIPS
Economic Recovery Suggests Better Returns From this Conglomerate
Most companies rejected the conglomerate business model. Once in fashion, the logic was that a company would have a division that would thrive whenever a different one was out of favor with the market. That model just created a lot of headaches for management instead.

However, there are a few surviving examples. Run properly, a conglomerate tends to be a relatively strong performer in a weak economy, but may take time to rally when an economy recovers.

» FULL STORY

Insider Trading Report: Enterprise Products Partners LP (EPD)
AJ Teague, co-CEO of Enterprise Products Partners (EPD), recently added 5,025 shares. The buy came to $100,000, and represents a 0.25 percent increase in the co-CEO's holdings.

This is the third buy from the co-CEO this year. Other insiders have also been active buyers throughout the year, including both directors and C-suite executives. Investors would have to go back two years to find the last insider sale, which was a small one relative to insider buying.

» FULL STORY

Unusual Options Activity: Uber Technologies (UBER)
Shares of rideshare giant Uber Technologies (UBER) have shaken off a pandemic-driven drop to rally to all-time highs in recent weeks. One trader sees shares moving even higher.

That's based on the activity in the January 2023 $75 calls. Over 2,550 contracts traded against a prior open interest of 148, for a 17-fold rise in volume. Expiring in 772 days, shares would need to rise about 40 percent to move in-the-money.

» FULL STORY

IN OTHER NEWS
Physical threats to employees are on the rise amidst the pandemic.
The FDA says Pfizer's Covid vaccine meets success criteria.
Goldman Sachs will become the first global bank to seek full ownership of its business in China.
Millions of Americans on food stamps are unable to take advantage of online grocery shopping.
Venture capital funds led by women have been hit hard this year.
Tesla Motors files to sell $5 billion in shares, just under 1 percent of its $600+ billion valuation.
General Electric works to improve how it funds its pension program.
Apple announces its Fitness+ service, taking aim at Peloton.
In earnings, Stitch Fix shares soar following a strong earnings and revenue beat.
AutoZone reports double-digit same-store sales, but not as much as analysts hoped.

S&P 500 MOVERS
TOP
EFX 7.844%
NCLH 6.226%
OXY 5.168%
ETSY 4.486%
EOG 10.027%
BOTTOM
AZO 5.288%
LEN 5.018%
DHI 4.024%
LEG 3.694%
PHM 3.622%

Quote of the Day
The world that we're experiencing today is certainly far, far better economically than we thought it could've been sitting here three months or six months ago. It's certainly quite possible that you'll see a very quick recovery as the vaccines get rolled out, given all the pent-up demand that exists.
- Wells Fargo CEO Charlie Scharf on why he expects the economy to roar back in 2021 as vaccines are rolled out.

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