Tuesday Watch

Evening Headlines

Bloomberg:      

• China’s Struggling to Get the World to Trust Its Vaccines.  
• Chinese Retailers See Rise in Loan Rejections, Beige Book Says.  
• Korea’s Consumer Sentiment Retreats Amid Worst Virus Wave.
• Brexit Deal May Be Too Little, Too Late for U.K.’s Car Industry.
• Covid-19 Cluster in Sydney’s Northern Beaches Grows to 129 Cases.
• Asia Stocks Higher on U.S. Aid; Treasuries Retreat: Markets Wrap.
• Oil Trades Near $48 With Fresh OPEC+ Supply About to Hit Market.
• U.S. House Backs $2,000 Checks; Spain Deaths Rise: Virus Update.
• House Backs Trump on $2,000 Checks, Daring Senate to Follow.  
• Covid Surge Sidelines Health Workers When They’re Needed Most.  
• Elite Boarding Schools Offer Students a Covid Bubble.  
• Some of 2020’s Most Expensive Stocks Sink in Year-End Selloff.

Wall Street Journal:

• Pushback on Xi’s Vision for China Spreads Beyond U.S.
• Instacart Looked Like a Savior. Now Stores Aren’t So Sure.
• Beijing’s Bigger Honey Trap.
• Nashville Bombing Exposes Weak Point for Business Communications.

Fox News:    

• Lawmakers side with Trump, vote to increase direct payments to individuals; bill now heads to Senate.
• Authorities appeal to public as violence, murders surge after big city's reforms.
  

CNBC.com:

• House passes bill for $2,000 stimulus checks – leaving it up to GOP-controlled Senate.
• Chart points to bitcoin ‘peaking out’ in early 2021, trader says.
• China’s economy is still months away from a full recovery, business survey finds.
• House overrides Trump veto of $740 billion defense bill, sends to GOP-led Senate.
• Surge in online shopping is straining America’s busiest port, official says.

MarketWatch.com:  

• SAP files for Qualtrics IPO expected to value the software company at more than the acquisition price.  
• Is my stimulus check taxable income? Will my stimulus reduce my tax return? Confusion and myths about the second stimulus.

Zero Hedge:

• Spain Plans A "Registry" For Those Who Refuse COVID Vaccine.
• China's Antitrust Crackdown On Tech's Giants Leads To Massive Losses.
• Anti-America, Anti-Trump, 'Anti-Racist': The 5 Most Politically-Biased Courses Of 2020.
• BMW Will Produce An Additional 250,000 EVs Over Next 3 Years, CEO Says.
• Neoliberal Champion Larry Summers Opens Mouth, Inserts Both Feet: Taibbi.
• House Passes CASH Act For $2,000 Stimulus Checks.
• The Banality Of Bill Barr.
• High School Student Sues Over Leftist "Indoctrination" In Nevada.
• California Gov Warns LA Lockdown Likely To Be Extended; Spanish COVID Deaths Top 50K: Live Updates.
• Israeli Man Dies After Receiving COVID Vaccine As 5K+ "Health Impact Events" Reported In US.
• WHO Chief Scientist Warns "No Evidence COVID Vaccine Prevents Viral Transmission".
• Only One Number Mattered To Global Markets In 2020.
• Ethereum Erupts, Oil & Gold Pump'n'Dump As Tech Jumps.

Newsmax:

• Pence Sued by GOP Legislators to Overturn Biden’s Victory.
  
• Dick Morris to Newsmax TV: Raffensperger Caused 'Serious Problems' in Election.
  
• Rep. Brooks: 'Dozens' of Republicans Will Oppose Electoral Vote.
  

TheGatewayPundit.com:

• Biden Goes Full Green New Deal Tyrant: Carbon Emissions Threaten “the Very Existence of our Planet” (VIDEO).
• Biden Flees Podium without Answering Questions After Delivering Remarks in Delaware (VIDEO).
• BREAKING: Pennsylvania Certified Results for President Are Found in Error – The Error Is Twice the Size of the Difference Between Candidates.
• WAKE UP AMERICA! Bold Billionaire Offers $1 Million Bounty for Dominion’s, Eric Coomer’s Comeuppance.

The Epoch Times:

• CCP on UN Human Rights Council Is ‘Dracula in Charge of the Blood Bank’: MP.
• Beijing’s Antitrust Probes an Effort to Rein In Private Sector, Analysts Say.

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 unch. to +1.0% on average.

• Asia Ex-Japan Investment Grade CDS Index 57.75 +.25 basis point.

• China Sovereign CDS 29.0 unch.

• Bloomberg Emerging Markets Currency Index 62.68 +.01%.
• Bloomberg Global Risk-On/Risk Off Index 1,492.0 +58.0 points.
• Volatility Index(VIX) futures 23.50 -.74%
• FTSE 100 futures +.91%.

• S&P 500 futures +.26%.

• NASDAQ 100 futures +.20%.

Morning Preview Links

Earnings of Note 
Company/Estimate 

 

Before the Open: 

• None of note
  

After the Close:

• None of note
  

Economic Releases

9:00 am EST

• The S&P CoreLogic CS 20-City MoM for Oct. is estimated to rise +1.0% versus a +1.27% gain in Sept.

Upcoming Splits

• None of note
  

Other Potential Market Movers

• The $59B 7Y T-Note auction and weekly US retail sales reports could also impact trading today.

Market Hours
Normal:

• 9:30 am - 4:00 pm EST
  

BOTTOM LINE: Asian indices are higher, boosted by industrial 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 75% net long heading into the day.