Wednesday, December 23, 2020

😕 A Disappointing Christmas Bonus

Good morning. Markets are still digesting the latest stimulus package. Costing about $2,700 per..
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. Markets are still digesting the latest stimulus package. Costing about $2,700 per taxpayer, it gave each of them $600 back. Unemployment benefits are being raised, temporarily. That's the good news. But a number of items sound more like handouts than something designed to stimulate the economy.

Billions of dollars are going to countries overseas. This stimulus wasn't proposed as a global package, and taxpayers are right to be mad. Ditto for such projects as $80 million to redecorate Senate offices (if you can spend millions to get elected in the first place, you can afford your own furniture). Overall, the much-vaunted stimulus has come off like a worse-than-expected Christmas bonus. Although (and we're grateful we only have a few more days left to say it), what did you expect from 2020?


Now here's the rest of the news:

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MARKETS
DOW 30,015.51 -0.67%
S&P 3,687.26 -0.21%
NASDAQ 12,807.92 +0.51%
*As of market close
Stocks traded mixed on Tuesday, as markets digested the stimulus bill.
Oil declined 2.3 percent, closing at $46.87 per barrel.
Gold dipped nearly 1 percent, ending at $1,864 per ounce.
Cryptocurrencies generally rose, with Bitcoin last trading at $23,474.

Today's TOP TIPS
Follow the New Street-High Bet on this Cloud Play
2020 saw a rapid acceleration of tech trends such as automation and remote work. That trend benefitted the larger area of cloud storage space. That's helped a number of companies outperform the market this year.

Now, Citigroup is upgrading one of the bigger plays in the space. It's given the stock a street-high rating. And with an expected 20 percent return in 2021, it would add to gains of nearly 40 percent so far this year.

» FULL STORY

Insider Trading Report: Icahn Enterprises (IEP)
A.B. Krongard, a director at Icahn Enterprises (IEP), recently started a stake at the company. The initial stake was a buy of 16,723 shares. That total purchase price came to just over $836,000.

This is the second insider buy of 2020, following Director Brett Icahn picking up shares from chairman of the board Carl Icahn. Aside from that transfer, insiders at the company have been buyers of shares going back the past three years.

» FULL STORY

Unusual Options Activity: Clean Energy Fuels Corp (CLNE)
Shares of natural gas fuel play Clean Energy Fuels Corp (CLNE) have been on a tear, more than doubling since early November. At least one trader sees the rally continuing, albeit at a slower rate.

That's based on the January 2022 $10 calls. With shares just under $6, CLNE would need to rally another 70 percent for the trade to move in-the-money. That's certainly possible in the next 394 days before expiration.

» FULL STORY

IN OTHER NEWS
European regulators clear Pfizer's Covid vaccine.
Australia expects higher iron ore prices in 2021 on China demand.
Rising oil prices may end up bailing out fracking plays.
Treasury Secretary Steven Mnuchin reports stimulus checks will arrive as soon as next week.
Unilever will resume advertising on Facebook following a pause over the summer.
Private equity firm Thoma Bravo will acquire RealPage property management for $10.2 billion.
Lockheed Martin pays $4.4 billion for Aerojet Rocketdyne.
As Tesla Motors shares join the S&P 500, Elon Musk tweets about cryptocurrencies.
In earnings, FactSet Research beats on earnings and revenue estimates.
Shell reports its third-consecutive quarterly loss and writes down another $4.5 billion in assets.

S&P 500 MOVERS
TOP
WDAY 6.351%
CHKP 5.08%
AIV 4.959%
PAYC 4.385%
ETSY 4.324%
BOTTOM
KMX 8.093%
NCLH 6.86%
CCL 5.935%
MOS 5.488%
APA 4.916%

Quote of the Day
There was actually a lot of encouraging news… although it's being overshadowed (for now) by the gloomy headlines out of the U.K. The market has been in a tug-of-war between the very grim near-term COVID backdrop and the increasingly hopeful medium/long-term outlook (driven by vaccines) – the latter set of forces are more powerful in aggregate, but on occasion the market decides to focus on the former, and stocks suffer as a result.
- Adam Crisafulli of Vital Knowledge of why markets have sold off on Covid fears in spite of multiple vaccines being approved and distributed.

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These guys were trading in this "ZONE" where the markets just deliver record profits:

  • In '92 - George Soros banked $1 billion during a 24 hour period …
  • In '08 - Warren Buffett made $10 billion during a special 7 month period.
  • And RIGHT NOW, hedge fund manager Bill Ackman is said to have banked $2.6 billion from the same special circumstances we're standing in right now.

They didn't do that on accident… they saw something special happening.

Click HERE to Learn More Now

(By clicking you agree to receive email updates and special offers from Trader News Media.)


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