Tuesday Watch

Evening Headlines

Bloomberg:       

• Westerners Grow Wary of China Travel Over Threat of Detention.  
• Why the U.K.’s Mutated Coronavirus Is Fanning Worries.  
• U.S. Adds Over 100 Chinese, Russian Companies to Military List.  
• Asian Stocks Slip on Virus Concerns; Dollar Steady: Markets Wrap.  
• Oil Holds Loss With Virus Mutation Threatening Global Movement.
• N.J. Sees 20% Spike; Bidens Receive Pfizer Vaccine: Virus Update.
• Checks, Tax Breaks and Airline Aid: What’s in Virus Relief Bill.  
• Rich Americans Who Fear Higher Taxes Hurry to Move Money Now.
  
• McConnell Says He Will Allow Biden’s Cabinet Nominees a Hearing.  
• Apple Targets Autonomous Car for Consumers by 2024, Reuters Says.  
• IPO Frenzy Drives Record $435 Billion in U.S. Stock Sales.

Wall Street Journal:

• A Pandemic of Misinformation.
• Covid Prompts Families to Shun Nursing Homes, a Shift That Appears Long Lasting.
• SolarWinds Hack Hit Office Home to Top Treasury Department Officials.

Fox News:    

• Trump plans 'big rally' for Loeffler, Perdue in Georgia.
• Ga. sec'y of state takes action with 8K out-of-state voters to protect runoffs.
• Read what's inside massive government spending bill.
  

CNBC.com:

• Mark Cuban: Bitcoin is ‘more religion than solution’ and won’t help in ‘doomsday scenarios’.
• U.S. plans to study allergic reactions from Pfizer’s Covid vaccine.
• Stimulus deal won’t extend payment pause for 42 million student loan borrowers.
• Here’s what’s in the $900 billion coronavirus relief plan.

MarketWatch.com:           

• The ‘single greatest risk’ facing Americans could hit within a decade, billionaire investor warns.
  
• ‘This is probably it for a while’: Hard road foreseen for further stimulus as Biden presses for more aid.
  
• ‘It’s unconscionable’: Outrage over the ‘three-martini lunch’ tax deduction in the new coronavirus aid deal.

Zero Hedge:

• Pork City: Here Are The Most Ridiculous Pet Projects In $900 Billion Stimulus Package.
• DeBlasio Mocks Fox, Doubles Down On 'Mission To Redistribute Wealth'.
• Lockdowns Do Not Control The Coronavirus: The Evidence.
• SIFMA Issues Paper To Assist With Planning For Negative Rates In The US.
• Apple "Moving Forward" With Self-Driving Car Technology.
• Gov Newsom In Quarantine; 30+ Countries Bar Travel With UK Over COVID Mutation: Live Updates.
• Climate Change Is The New Fed Mandate.
• Top Scientists Questioned COVID Lab Origin In Explosive Emails; Concerns Grow Over 'Impartial' WHO Probe.
• Government, Not COVID-19, Is Killing Small Businesses.
• Stocks Dump'n'Pump As Bank Buybacks & Bailouts 'Crush' COVID Mutation Concerns.

Newsmax:

• Trump: Talked to Tuberville, Who Hinted at Electoral-Vote Challenge.  
• Ga. Runoff Turnout Nears 1.5M and Heads Toward Record.
• Jenna Ellis Fires Back at Barr Over Nixing Elex Special Counsel.

TheGatewayPundit.com:

• Democrats’ “Stimulus” Bill Gives $600 to Suffering Americans – But Sends More Than $2 Billion to Africa and Asia.
• CRINGE: Kamala Harris Channels Hillary Clinton, Musters Fake Accent While Campaigning in Georgia (VIDEO).
• Rudy Giuliani: Audit Dominion Machines In Key States.

The Epoch Times:

• Zoom Shared US User Data With Beijing to Ensure Chinese Market Access, Court Documents Show.
• China Insider: China Spies on Americans through Caribbean Phone Networks.
• Grenell: ‘Very Concerned’ With Biden and His NSA Pick Over China.

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.
  

NTD News:

• "A lot of people, friends of mine, say, let's not vote... But if you do that, the radical left wins. ... You're angry because so many votes were stolen, it was taken away...If you don't vote, the socialists and the communists win"—Trump rallies for Perdue and Loeffler. (video) 

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 -.75% to -.25% on average.

• Asia Ex-Japan Investment Grade CDS Index 57.75 +1.0 basis point.

• China Sovereign CDS 28.25 +.75 basis point.

• Bloomberg Emerging Markets Currency Index 62.58 -.03%.
• Bloomberg Global Risk-On/Risk Off Index 1,250.0 +9.0 points.
• Volatility Index(VIX) futures 26.4 +.28%
• FTSE 100 futures +.02%.

• S&P 500 futures -.15%.

• NASDAQ 100 futures +.11%.

Morning Preview Links

Earnings of Note 
Company/Estimate 

 

Before the Open: 

• (KMX)/1.13
• (CTAS)/2.18
• (NEOG)/.31
  

After the Close:

• None of note
  

Economic Releases

10:00 am EST

• The Conference Board Consumer Confidence Index for Dec. is estimated to rise to 97.0 versus 96.1 in Nov.
• Existing Home Sales for Nov. is estimated to fall to 6.7M versus 6.85M in Oct.
• The Richmond Fed Manufacturing Index for Dec. is estimated to fall to 10.0 versus 15.0 in Nov.
  

Upcoming Splits

• None of note
  

Other Potential Market Movers

• The GFK Consumer Confidence report and the US weekly retail sales reports could also impact trading today.

Market Hours
Normal:

• 9:30 am - 4:00 pm EST
  

BOTTOM LINE: Asian indices are mostly lower, weighed down by commodity and technology 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.