Monday Watch

Today's Headlines

Bloomberg:         

• U.K. Says New Covid Mutation Is ‘Out of Control’.
• U.K. Suppliers Sound Alarm as Virus Hobbles Import Routes.
• It’s Unclear If U.S. Has the U.K. Virus Mutation, Slaoui Says.  
• Brexit Talks to Continue Tomorrow Amid ‘Significant Differences’.
• Europe Moves to Isolate U.K. as Mutant Virus Spoils Christmas.
• Emerging-Market Stocks to Face Seven-Week Rally Litmus Test.  
• U.K. Faces Mutant Strain; Sydney Implements Curbs: Virus Update.  
• Dollar Rises, Stocks Slip; Virus Curbs Hit Pound: Markets Wrap.  
• Oil Drops After Seventh Weekly Gain on Virus Mutation Concern.
• Dollar Pressure, China’s Addiction, Korea in Crosshairs: Eco Day  
• Vaccines Don’t Mean We’ll See the Last of Covid, Experts Warn.
• Yellen Pressed to Back Strong Dollar in Reversing Trump-Era Tone.
• Lockheed Martin to Buy Aerojet Rocketdyne for $4.4 Billion.

Wall Street Journal:

• Goldman Sachs, Netflix Ramp Up Covid-19 Testing for Workers.
• Scenes From Pompeii—or Maybe My Abandoned Manhattan Office.
• Restaurant Safety Net Frays as Winter Arrives.
• Small Businesses Are Being Starved of Credit.
• Why Are So Many Italians Dying of Covid-19?
• The Cyber Threat Is Real and Growing.
• Hospitals Retreat From Early Covid Treatment and Return to Basics.
• U.S. Officials Urge Calm Over New Strain.

Fox News:

• Biden will not discuss Hunter Biden probe with AG candidates, Psaki tells Chris Wallace.
• Documents reveal scope of Beijing’s effort to control coronavirus narrative: report.
• Police chief speaks out after fourth NC officer shot in just over a week.

CNBC: 

• Congress agrees to $900 billion Covid stimulus deal after months of failed negotiations.
• The U.K. has identified a new Covid-19 strain that spreads more quickly. Here’s what they know.
• Belgium, Austria, Italy, Netherlands halt UK flights, fearing new coronavirus variant.
• Pain, despair and poverty reach fever pitch for unemployed workers.
• U.K. orders stricter Covid lockdown in London — ‘We cannot proceed with Christmas as planned’.
• Second stimulus checks will help, but U.S. income crisis runs much deeper than Covid.
• Amazon closes New Jersey warehouse after workers test positive for coronavirus.
• Tesla enters the S&P 500 with 1.69% weighting in the benchmark, fifth largest.
  

Zero Hedge: 

• Congress Reaches Agreement On $900 Billion Stimulus Deal.
• Trump Campaign Files 267-Page Motion At US Supreme Court Challenging Pennsylvania Rulings.
• Kyle Bass Explains Why We May Never See Another Bear Market In Bonds.
• OIl Slides On UK Lockdown Fears.
• 1000s Flee London Amid "Tier 4" Restrictions; "Out Of Control" Mutation Spreads To Italy: Live Updates.
• No Act Of War But "An Easy Score": Here's What We Know & Don't Know About SolarWinds Hack.
• Overly Bullish Speculators Front-Run "Santa Claus".
• CDC Admits Drug Overdose Deaths Are Accelerating During COVID-19 Pandemic.
• Former Wisconsin Judge: 'Our Court System Has Been Deeply Intimidated by the Left'.
• Stanford SJWs Left 100s Of Frontline Doctors Without Priority Access To COVID Vaccine.
• Outrage Erupts After Helen Keller Canceled From The Grave Over 'White Privilege'.
• CDC Issues New Guidelines, Launches Probe After 1000s Negatively-Affected Following COVID-19 Vaccination.
• Comparing Today's Markets With 2009 And 2017.
• Record 41% Of European IG Bonds Have Negative Yields As ECB Buys Quarter Of All Eligible Corporate Bonds.
• Bonuses For Goldman's Trading Desk Could Jump 20% This Year.
• 2020: The Year We Let Ourselves Be Infantilised And Dehumanised.
• California Reports Record COVID Cases And Deaths... Despite Strictest Lockdown.
• Californians Can Now Pay A Premium To Power Their Homes With Manure.

MarketWatch.com:    

• Why an IPO ‘meltup’ could signal future trouble for the stock market.
  

NewsMax:  

• Facts About Dominion, Smartmatic You Should Know.  
• Gaetz: I Will Challenge Electoral College Votes on Jan. 6.

TheGatewayPundit.com:

• SOMETHING’S BREWING! Dan Scavino Posts Series of Tweets After Raucous Oval Office Meeting – Trump Is Ready to Take Action.
• With Another Election Coming Up in Days, Georgia Is Still a Mess with the Same Players Running the Same Processes.
• President Trump to Hold Second Rally for Georgia Senators Loeffler and Perdue on January 4th.
• REVEALED: ‘Simple Math’ Shows Biden Claims 13 MILLION More Votes Than There Were Eligible Voters Who Voted in 2020 Election.
• Lawyers Argue Employers Can “Legally” Require COVID-19 Vaccinations (VIDEO) #MyBodyMyChoice.
• NEW: Trump Campaign Takes Fight Over Pennsylvania Election and Mail-In Ballot Laws to US Supreme Court.
• HUGE: Chinese Spy Rep. Swalwell Was Sleeping With Is Pictured with Chinese Agent Who Spied on Sen. Feinstein for 20 Years.

The Epoch Times:

• VIDEO: Bill Gertz: Leaked Database Suggests Widespread CCP Infiltration; China Silencing Hong Kong Activists.
• COVID-19 Cluster Outbreaks Occuring Throughout China.
• McCarthy Calls for Expanded FBI Briefing on Swalwell’s Ties to Alleged Chinese Spy.

@kylenabecker:

• BIG TECH. “YouTube has decided that my opening statement in the U.S. [Senate], given under oath & based upon hard evidence, is too dangerous for you to see; they removed it." Youtube is now censoring statements in the U.S. SENATE leftists don't like. Ridiculous!

Geller Report: 

• LOOK Who Owns Dominion Voting Systems: Politically Motivated PRIVATE Equity NY Hedge Fund.

The Atlantic:

• The End of the Filibuster—No, Really. Many activists will not tolerate a Democratic-controlled Senate that allows Republicans to block legislation next year.

Politico:

• AOC Lays Out Progressive Wish List for Biden.

Glenn Beck:

• Elizabeth Warren’s ‘progressive wish list’ will destroy America. (video)

Daily Caller:

• Trump Urges Supporters Not To Boycott Georgia Senate Elections. President Donald Trump urged his supporters not to boycott the upcoming runoff Senate elections in Georgia on Friday, saying a boycott would be “playing right into the hands” of Democrats.

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 indices are -.75% to unch. on average.
• Asia Ex-Japan Investment Grade CDS Index 56.75 unch.
• China Sovereign CDS 27.5 -.5 basis point.
• Bloomberg Emerging Markets Currency Index 62.71 -.06%.
• Bloomberg Global Risk-On/Risk Off Index 1,430.0 -27.0 points.
• Volatility Index(VIX) futures 24.45 +1.14%. 
• Euro Stoxx 50 futures -1.39%.
• S&P 500 futures -.05%.
• NASDAQ 100 futures +.26%.

Morning Preview Links

Earnings of Note

Company/Estimate

Before the Open:

• (FDS)/2.74
  

After the Close:

• (HEI)/.41
  

Economic Releases

8:30 am EST

• The Chicago Fed National Activity Index for Nov.

Upcoming Splits

• None of note
  

Other Potential Market Movers

• The Australia retail sales report and the $21B 19Y 10 month Treasury auction could also impact trading today.

Market Hours
Normal:

• 9:30 am - 4:00 pm EST

BOTTOM LINE: Asian indices are modestly lower, weighed down 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 week.