Tuesday, December 8, 2020

👆 Rising Covid Cases and Dragged Stimulus Weighs on Stocks

Good morning. The broad investment world tends to follow narratives. That's why we've been able to..
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. The broad investment world tends to follow narratives. That's why we've been able to profit from the market's swings on every headline on a prospective trade war over the past few years. This year, the name of the game has been stimulus.

The on-again, off-again stimulus proposals point to some kind of massive giveaway from the government at some point. The only real question is the size of the stimulus, and when the checks can be distributed. So far, talk of stimulus has been enough to offset a rise in Covid cases and local shutdowns going into the winter. Chances are the market may have a bumpy few weeks, but that may just be what's needed to get a deal passed.


Now here's the rest of the news:

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MARKETS
DOW 30,069.79 -0.49%
S&P 3,691.96 -0.19%
NASDAQ 12,519.95 +0.45%
*As of market close
Stocks traded mixed on Monday, with a rally in tech.
Oil prices dropped 1.2 percent, hitting $45.69 per barrel.
Gold surged 1.5 percent, ending at $1,867 per ounce.
Cryptocurrencies generally dropped, with Bitcoin changing hands at $19,028.

Today's TOP TIPS
Is this Tech Dinosaur Creating a Better Zoom?
One old-school technology company has been making a few acquisitions in recent weeks. Rather than play to the company's core advantages, however, the recent buys point to a new direction for the firm.

The direction is towards cloud-based communications. Specifically, this company wants smarter and faster customer engagement solutions, but that also includes interactive video, messaging, and voice channels. In short, a tech company best known from the 1990s is now working to outdo Zoom Communications (ZM) in video networking.

» FULL STORY

Insider Trading Report: The Kraft Heinz Co (KHC)
Elio Sceti, a director at The Kraft Heinz Co (KHC), recently picked up 90,000 shares. The buy is an initial stake in the firm, and the total purchase price of shares came out to $2.98 million.

Insiders have a mixed trading record at the company, as 3G Global Food Holdings makes regular sales of millions of shares each year to reduce their stake. However, directors have been large buyers of shares overall in the past few years as well.

» FULL STORY

Unusual Options Activity: Cameco (CCJ)
Shares of uranium mining giant Cameco (CCJ) have risen in recent sessions. At least one trader expects that uptrend to continue. That's based on the July 2021 $20 call options. Those options saw over 3,230 contracts trade recently, a 20-fold rise in volume from the prior open interest of 161.

Expiring in 220 days, the options would move in-the-money if shares rose about 70 percent higher from their current price near $11.70. The trader paid $0.34 to make the trade.

» FULL STORY

IN OTHER NEWS
China reports a record trade surplus thanks to a 21 percent rise in exports.
The number of small businesses facing bankruptcy in 2020 may be as high as four million.
Italian oil giant Eni will buy a 20 percent stake in the world's largest offshore wind farm.
Kodak shares soar after a probe finds no wrongdoing in a loan to produce pharmaceutical ingredients.
Bob Dylan sells his entire catalog of more than 600 songs to Universal Music Group.
Cisco is buying Slido, allowing improvements in videoconferencing engagement.
Jeff Bezos' Blue Origin unveils the BE-7 engine, which may be used in a moon mission in 2024.
SpaceX launches its 100th successful Falcon 9 flight.
Airbnb boosts its IPO price range to $56-60 per share.
In earnings, Marvell Technology meets estimates but lowers its forecast.

S&P 500 MOVERS
TOP
TSLA 7.131%
MKTX 5.707%
LB 5.203%
AAL 4.939%
TYL 3.879%
BOTTOM
LUMN 6.629%
SPG 4.834%
FTI 4.771%
DVN 4.605%
HFC 3.958%

Quote of the Day
The big change around the outlook itself is upgrading risk assets overall and seeing 2021 as a very constructive year for risk assets…We see 2021 as a really powerful year for the restart, in terms of economic activity, but also importantly a year where we're going to see central banks hold interest rates within a pretty tight range.
- Mike Pyle, BlackRock's global chief investment strategist, on why the company expects stocks to perform strongly in 2021, while also expecting debt obligations to underperform.

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Jim is "pulling back the curtain" on one of his closely guarded strategies to show you exactly how you could use it to rake in an average DAILY income of $185...from just 9 minutes of "work" (if you can even call it that) per week...

Click HERE to discover how you could rewrite your own success story - with one simple move.


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