Friday Watch

Evening Headlines

Bloomberg:    

• ECB Seen Extending and Boosting Stimulus to Battle Longer Crisis.
• Osaka Alert at Highest; South Korea Cases Rise: Virus Update.
• Stocks Steady After Recent Surge; Dollar Holds Dip: Markets Wrap.
  
• Oil Trades Near Eight-Month High After OPEC+ Compromise Deal.
• Five Things You Need to Know to Start Your Day.
• The Bloomberg 50: The People Who Changed Global Business in 2020.  
• How Bipartisan Stimulus, McConnell Plans Stack Up: Side by Side.  
• U.S. Junk Bond Yields Hit Record Low for Second Time This Year.  
• Wall Street Keeps Pushing Into China as Washington Balks.

Wall Street Journal:

• McConnell’s Spending Line.
• OPEC, Allies Agree to Increase Output by 500,000 Barrels a Day.
• Pfizer Slashed Vaccine Rollout Target After Supply-Chain Obstacles.
• U.S. Boosts China Spying Budget to Meet Growing National-Security Threat.

Fox News:

• EXCLUSIVE: Michael Flynn speaks out on 'political persecution' to Lou Dobbs.
  

CNBC.com:

• Wall Street may be underpricing a near-term risk associated with Fed policy.
• WarnerMedia CEO Jason Kilar doesn’t think he just destroyed the movie theater industry.
• Pentagon blacklists China chipmaker SMIC and oil producer CNOOC.
• Southwest warns 6,800 employees on potential furloughs in ‘sad milestone’.
• Covid pandemic is accelerating the shift to digital payments, but cash remains king.

Zero Hedge:

• "This Needs Answers": CCTV Video Of Georgia Poll Workers Sparks Election Fraud Outrage.
• China Blasts Annual Congressional Report As Filled With "Conspiracies, Pitfalls, Threats".
• Not All Hedge Funds Had A Dismal Year: Coatue Is Up 53%, Balyasny Gains 30% As Some Veterans Flourish.
• "Trump's China Measures Will Box Biden In": Visa Restrictions For 92 Million CCP Members.
• The Mainstream Press Has Failed America.
• Philadelphia Priest Dies After Participating In Moderna COVID Vaccine Trial.
• Biden Says Fauci To Stay On, Will "Ask" Americans To Wear Masks For First 100 Days Of Admin.
• Stocks Plunge After Pfizer Cuts Vaccine Rollout Target By Half Due To "Supply Chain Obstacles".
• DOJ Sues Facebook For Discriminating Against US Workers, Reserving Jobs For H1-B Workers.
• Stock Valuations Surpass 1929 Levels.
• Newsom Places California Under 3-Week Stay At Home Order, CDC Chief Says COVID Worst Health Crisis In A Century: Live Updates.
• Ivy League Librarians Demand A "World Without Policing".
• Delta Air Lines Hemorrhages Cash; CEO Warns 'Forward Bookings Slowing' Again.
• Dollar Dump Sparks Bid For Bonds & Bullion; Pfizer Faux-Pas F**ks Stocks.

Newsmax:

• Freedom Caucus Demands AG Barr Update on Election Fraud Probe. 
• GOP Rep. Gohmert Scolds DOJ, FBI, AG Barr: 'Do Your Jobs!'.

@RealDonaldTrump: 

•  Dominion Exposed. This video should terrify every single American. (video)
  

@kylenabecker:

• Okay, you want numbers? Here are some numbers:  GEORGIA: 2,056 felons illegally voted 66,248 under 18 voted 2,423 weren’t registered at all 1,043 used a PO Box 4,926 voted past the reg. date 10,315 died before the election 395 voted in two states 15,700 moved out of state 40,279 changed county and didn’t re-register to vote.
• Dominion. Voting security expert @RussRamsland ran Dominion systems' results versus ALL OTHER voting software systems. FIVE PERCENT. That is how much better Biden "outperformed" with Dominion Voting Systems versus ALL OTHER voting systems software.
  
  
  

TheGatewayPundit.com:

• Project Veritas: CNN’s Jeff Zucker Protected Joe Biden by Dismissing and Refusing to Pursue Allegations of Child Sex Abuse Against Hunter (VIDEO).

The Epoch Times:

• Beijing Has Enormous Sway Over Wall Street, Hopes for Biden Win: Chinese Professor.
• Activist Disappears After Protesting Against Chinese Regime on Twitter.
• Beijing Poses Greatest Threat to US, Free World Since WWII: Director of National Intelligence.

ProtectTheVote.com: 

• Serious allegations of misconduct in the 2020 elections have resulted in unprecedented legal action to ensure our elections are -- and remain -- free and fair. Find out where we’re exposing fraud and how you can help.

HereIsTheEvidence.com:

• This is for aggregating publicly available items of voter fraud evidence in the US election that would be admissible in court.
  

Digital Blackboard:

• Daily New Cases by Region.

Worldometer:

• New Cases/Deaths by state.

Rt Covid-19:

• How fast virus is growing by state.

KFF:

• State Data(Tests/Hospitalizations).

Night Trading 

• Asian equity indices are -.25% to +.75% on average.

• Asia Ex-Japan Investment Grade CDS Index 57.5 -.25 basis point.

• China Sovereign CDS 29.25 -.25 basis point.

• Bloomberg Emerging Markets Currency Index 62.09 -.03%.
• Bloomberg Global Risk-On/Risk Off Index 1,471.0 +7.0 points.
• Volatility Index(VIX) futures 24.4 -.43%
• FTSE 100 futures +.17%.

• S&P 500 futures +.24%.

• NASDAQ 100 futures +.27%.

Morning Preview Links

Earnings of Note 
Company/Estimate 

 

Before the Open: 

• (BIG)/.66
• (GCO)/-.14
• (HDS)/.47
  

After the Close:

• None of note
  

Economic Releases

8:30 am EST:

• The Change in Non-Farm Payrolls for Nov. is estimated to fall to 475K versus 638K in Oct.
• The Unemployment Rate for Nov. is estimated to fall to 6.8% versus 6.9% in Oct. 
• Average Hourly Earnings MoM for Nov. is estimated to rise +.1% versus a +.1% gain in Oct. 
• The Trade Deficit for Oct. is estimated to widen to -$64.8B versus -$63.9B in Nov.
  

10:00 am EST

• Factory Orders for Oct. is estimated to rise +.8% versus a +1.1% gain in Sept. 

Upcoming Splits

• None of note
  

Other Potential Market Movers

• The Fed's Bowman speaking and the Canada Balance of Trade report could also impact trading today.

Market Hours
Normal:

• 9:30 am - 4:00 pm EST
  

BOTTOM LINE: Asian indices are mostly higher, boosted by technology and commodity shares in the region. I expect US stocks to open modestly higher and to weaken into the afternoon, finishing mixed. The Portfolio is 50% net long heading into the day.