Morning Market Internals

 NYSE Composite Index:

• Volume Running +17.1% Above 100-Day Average
• 1 Sector Rising, 10 Sectors Declining
• 22.9% of Issues Advancing, 74.4% Declining
• 83 New 52-Week Highs, 4 New Lows
• 85.2% of Issues Above 200-day Moving Average
• Average 14-Day RSI 54.6% 
• Bloomberg Global Risk-On/Risk-Off Index 1,066.0 -390.0 points
• Vix 27.4 +27.1%
• Total Put/Call .79 +4.0%
• TRIN/Arms .59 -60.1%

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.

Today's Headlines

Bloomberg:                   

• China Vows Countermeasures on U.S. Sanctions Against Its Firms.
• A Speculative Frenzy Is Sweeping Wall Street and World Markets.
• At Least 200 Victims Identified in Suspected Russian Hacking.  
• Sydney Covid Restrictions Widen Amid Northern Beaches Outbreak.  
• Apple Shuts Stores in California and London as Covid Surges.
• Cisco Latest Victim of Cyber-Attack Using SolarWinds.  
• London Begins Emergency Lockdown as U.K. Fights New Virus Strain.
• Trump Downplays Huge Hack Tied to Russia, Suggests China.
• The World’s CFOs Have a Dire Message for Real-Estate Investors.
• China Steel Group Executive Expects Decline in Iron Ore Price.
  
• U.S. Cases Near Record; London Lockdown to Tighten: Virus Update.
• Trump Signs Stopgap Funding Bill as Virus Relief Talks Continue.
• Tesla’s Road to the S&P 500 Was a Wild Ride, These Charts Show.
• The Work-From-Home Boom Is Here to Stay. Get Ready for Pay Cuts.  
• Covid Swamps Los Angeles as Residents Spurn Fear and Lockdowns.  
• Robinhood’s Role in the ‘Gamification’ of Investing.
  

Wall Street Journal:

• For Small Firms, Covid-19 Cuts Deeper; ‘It’s Getting Worse Every Day’.
• The Month Coronavirus Unraveled American Business.

CNBC:

• After suing Facebook, the FTC has a chance to show critics it’s not toothless
• Doomsday preppers spend on survival kits, emergency food supplies and shelter
• Searching for the next buyers of this bull market with inflows surging and the consensus long.
• Diversity, inequality metrics to see ‘a lot of scrutiny’ in 2021 as ESG investing grows, MSCI says.
• The U.K. has identified a new Covid-19 strain that spreads more quickly. Here’s what they know.

IG:

• Weekend Markets Trading Live.

Barron's:

• Had bullish commentary on (CMCSA), (BRK/B), (GOOGL), (AAPL), (KO), (ETN), (MRK), (GS), (NEM), (MSGE) and (GHC).

MarketWatch.com:  

• What could rattle markets in 2021, even as vaccines are rolling out.
• California hospitals operating beyond capacity as coronavirus cases explode.

Fox News:

• Hospital halts vaccinations after 4 workers have adverse reactions.
• De Blasio says his plan is to 'redistribute wealth' in NYC school system.
• GOP senator lashes out with new grievances on COVID relief bill, says Dems ‘trying to politicize’ Fed.

Newsmax:  

• Franklin Graham: 'I Tend To Believe' Election Stolen, Rigged.
• Georgia County Board Rejects Voter Roll Challenges.
  

Zero Hedge:

• Trump Blasts Exaggerated Media Claims Of "Russia, Russia, Russia" In Cyberattack After Seeing Intel.
• UPenn Ethicist: Old People Shouldn't Get Vaxx First Since They're 'Too White'.
• First Radio Signals From Planet Outside Solar System Could Have Been Received, Astronomers Say.
• US Closing Last 2 Consulates In Russia, Only Moscow Embassy Remains.
• Here Are The 3 Things That Can Blow Up Goldman's Euphoric 4,300 S&P Price Target.
• London, Italy Enter Full Holiday Lockdowns; England COVID Mutation 70% More Infectious: Live Updates.
• WHO (Finally) Admits PCR Tests Create False Positives.
• Facebook, Twitter Revert To Pre-Election News Feed Algos After Their Preferred Candidate Wins Election.
• On Yellen's "Arranged Marriage" To The Fed.
• Grantham's "Real McCoy" Bubble In A World Gone Mad.
• Top Retail Group Expects 150 Million Shoppers On "Super Saturday".
• SEC Warns Ponzi Scheme Complaints See "Significant Uptick" In COVID World 
• 25 Years Later: What The Euro Has Become.
• Pompeo Claims Russia "Pretty Clearly" Behind Major Cyberattack On US Agencies.
• The Biggest Questions European Investors Are Asking Before 2021.
• 2020: The Year We Lost The Plot.
• A Global Look At How People Spend Their Time (Spoiler Alert: Sleeping Mostly!).
• LA Is Spending $130,000 Per "Tiny Home" To Shelter Its Homeless.
• "Insane" S&P Rebalance Ends With Tesla Smashing All-Time Volume Record.
• Terrorist Who Murdered 224 People Released From Prison Because Of COVID-19.
• China Endures Worsening Electricity Shortages In Name Of Punishing Australia.
• Americans' Mental Health Hits 20-Year Low Ahead Of Renewed Lockdowns, Gallup Poll.
  

TheGatewayPundit.com:

• President Trump Releases Video – ‘FIGHT FOR TRUMP – SAVE AMERICA – SAVE THE WORLD’.
• New Low? Black Lives Matter Monsters Terrorize Child Cancer Fundraiser in Wisconsin (VIDEO).
• “There’s Going to Be Evidence that Comes Forward in Next Few Days what Will Drastically Change the Playing Field” — Security Expert Behind Antrim County Audit Says Something Big Is Coming (VIDEO).
• Struggling New York City Restaurant Owners Ban Andrew Cuomo from Establishments.

The Epoch Times:

• China Insider: Disclosing U.S. Media’s Economic Ties with the CCP.
• Leaked Documents Reveal Chinese Regime’s Orders to Steal Foreign Technologies.
• China Insider: Disclosing U.S. Media’s Economic Ties with the CCP.
• Treasury Under Fire for Trying to Soften Trump’s Ban on Chinese Securities.

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).

Evening Headlines

Bloomberg:               

• An Epic Year of Market Events Shook China, Hong Kong, Taiwan.
• Congress Approves Stopgap Funding as Virus Relief Talks Continue.  
• U.S. Approves Moderna Shot; N.Y. Cases Hit Record: Virus Update.
• Trump Signs Bill That Could Remove Chinese Stocks From U.S.  
• PGIM’s CEO Steers $1.4 Trillion Away From SPACs, Sensing Bubble.  
• JPMorgan, Goldman to Restart Buybacks as Fed Gives Green Light.  
• Banks on Alert After Sweep Finds No Evidence of Major Hack.
• Senate Probe Finds Boeing ‘Inappropriately Influenced’ Max Tests.
• Zoom Says It’s Being Probed by SEC, Two U.S. Attorneys Offices.  
• Some U.S. Colleges Cut Tuition, Ending Relentless Price Spiral.  
• Charting the Global Economy: Bleak Reality Obscures Hope for 2021.

Wall Street Journal:

• A California Plan to Chase Away the Rich, Then Keep Stalking Them.
• North Korea’s Economy Hit Harder Than It Has Been in Decades.

CNBC:

• FDA approves second Covid vaccine for emergency use as it clears Moderna’s.
• Congress passes bill to prevent government shutdown for two days, sends it to Trump.
• Fed allows banks to resume share buybacks, JPMorgan stock jumps 5%.

IG:

• Weekend Markets Trading Live.

MarketWatch.com:  

• Nike stock heads toward record after earnings show a return to sales growth.  
• Intel stock drops 6% after report of Microsoft developing its own chips.  
• FireEye, Crowdstrike enjoy record days as SolarWinds hack leads to soaring security stocks.

Fox News:

• Hunter ignored, but Biden team limits questions, vexing reporters.

Newsmax:   

• Outspoken Georgia Poll Workers Barred From Senate Runoffs.
• Michael Flynn to Newsmax TV: Trump Has Options to Secure Integrity of 2020 Election.
• Trump Appoints 1776 Commission to Promote ‘Patriotic Education’.
  

Zero Hedge:

• Supreme Court Responds To Claims That Roberts Screamed At Other Justices Over Texas Election Lawsuit.
• Senate Joins House In Passing 2-Day Shutdown Stopgap As Talks Drag On.
• The Response To COVID-19 In Oregon Has Entered The Surreal.
• Georgia Poll Workers Who Raised Election Concerns Terminated.
• Backtalk Highlights The Danger Of A "Digital Assistant".
• Antifa Erects "Big, Beautiful Border Wall" Around Latest Seattle 'Autonomous Zone'.
• The New England Journal Of Medicine Is Now Fully Woke.
• "It's A Constant Struggle": Cost Of Living Increases Are Decimating The Middle And Lower Class.
• "A Year Like No Other": 20 Charts Showing The Insanity Unleashed By Central Banks.
• Fed Allows Banks To Restart Buybacks After 2nd Stress Test.
• Apple Closes LA Stores; White House Prepares National Shutdown Guidance: Live Updates.
• Silver Soars, Bitcoin Roars, Stocks Snore As COVID-Relief Rancor Continues.

@kylenabecker:

• DOMINION. *NEW* county analysis shows Dominion Voting Systems users vote for Biden OVER 5% MORE than *all other methods,* except for Hart Intercivic voting machines, where he overperforms 6% MORE! According to mainstream media, this is *NOT* evidence of election fraud.

TheGatewayPundit.com:

• Stacey Abrams Cheers 7.7 Million Registered Voters Ahead of January Run-Off — REPUBLICANS LEFT LOOKING INEPT AND STUPID.
• MI Sec of State Official Caught On Video Telling Volunteers To Count “Multiple Ballots with the very Same Signature” During “Audit” Of Votes In Antrim County.
• EXCLUSIVE: “That’s The Easiest $500 Million You Ever Made!” – Accountant to Hunter Biden.
• BREAKING: Swalwell Had Sexual Relationship with Chinese Spy Fang Fang – McCarthy Says Swalwell Should ‘Not be on Intel’ Committee.
• IT’S TIME FOR TRUMP TO CONFISCATE THE VOTING MACHINES! The Results of the Fraudulent Election Will Never Stand and Americans Know It.

The Epoch Times: 

• China-based Zoom Executive Charged for Disrupting Meetings About Tiananmen Square Massacre.
• Beijing Promotes Political Ideology Through University Programs Geared Toward Belt and Road Countries.

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).