Today's Headlines

 Bloomberg:          

• U.K.’s Frost Sees ‘Moment of National Renewal’ on Trade Deal.  
• Brexit Deal Hands Business a Mix of Relief and Unwanted Change.
• Beijing Residents Told to Stay Put for Holidays. 
• Covid-19 Cluster in Sydney’s Northern Beaches Rises to 122 Cases.
• China Reports 12 Cases; Mutant Strain Spreads: Virus Update.
• U.S. Cases Hit Holiday Low; Sweden Identifies Mutation: Virus Update.
• McConnell, GOP Face Splits With Trump Over Defense, Relief.  
• Year of the Meme Stock: Hertz, Kodak Top List of 2020 Highlights.
• Volatility Market Braced for ‘Too Close to Call’ Georgia Runoffs.

Wall Street Journal:

• Holiday Sales Rose, but Not by Much.
• New House Will Start With Narrow Margins, Big To-Do List.
• Covid-19 Pushed Businesses Into Making Fast Changes.
• Bond Boom Comes to America’s Colleges and Universities.
• Aid Bill Uncertain as Trump Calls for Larger Payments.
• Pandemic Threw People’s Finances Into Disarray.
• Hands-Free Driving Is Coming to Many More Cars.

CNBC:

• Trump again calls for $2,000 checks as Covid aid bill remains in flux.
• These quarterly winners still offer value and high growth potential, traders say.

IG:

• Weekend Markets Trading Live.

Barron's:

• Had bullish commentary on (STAY), (CZR), (NCLH), (VAC), (WYNN) and (WH).

MarketWatch.com:    

• What could rattle markets in 2021, even as vaccines are rolling out.  
• Another rush of IPOs on tap for 2021 after a year of impressive pandemic offerings.  
• Videogames are a bigger industry than movies and North American sports combined, thanks to the pandemic.

Fox News:

• Officials search home linked to person of interest in Nashville explosion; get hundreds of tips: report.
• Left-wing Dems may turn against Biden as president: Victor Davis Hanson.
• Boston doc has severe allergic reaction to Moderna COVID-19 vaccine: report.

Newsmax:

• China's Economy Set to Overtake America's Earlier Due to COVID Fallout.
• Survey: Majority of Republicans Want Trump to Fight Election Result.
• Trump 'Resolved' in Election Challenge, Says Pa. Lawmaker Who Met With Him.
  

Zero Hedge:

• Japan Issues Complete Ban On Non-Nationals Entry To Battle 'Super COVID' Strain.
• Nashville Bomber May Have Died In Explosion; Feds Raid Suspect's House.
• L.A. County Is Running "Dangerously" Low On Oxygen To Treat COVID-19.
• What To Do When The Planets Diverge.
• "It Doesn't Look Pretty": COVID's Harsh Financial Reality Continues Across The U.S. 
• Credit Applications Are Down and Rejection Rates Are Up.
• Scientists Scramble To Identify Culprit Behind Covid Vaccine Allergic Reactions.
• Inventory Soars As Companies Dump Record Volume Of Office Space.
• The 10 Most Important Changes Of The Past Year.
• Bitcoin Surges Towards $27k As Short Squeeze Accelerates.
• France Forced To Postpone "Health Dictatorship" Vaccine Legislation.
• 'New Normal' Arrives - Singapore Airlines Launches COVID-19 "Digital Health Passport" For Passengers.
• Pressured By Negative Rates, European Banks Are Bludgeoning Customers With New Fees.
• H.G. Wells' Dystopic Vision Comes Alive With The Great Reset Agenda.
• Indian Call Center Scams $14 Million From Americans In Elaborate Scheme.
• Is Your New TCL HDTV (Made In China) A Security Risk?
• Here We Go Again: Boeing 737 Max Makes Emergency Landing After Engine Failure.
  

TheGatewayPundit.com:

• President Trump Warns Weakling GOP Senators: “I Will NEVER FORGET! — And Neither Will His 75 Million Voters!
• “NO FIGHT!”- President Trump Blasts Republicans For Not Stopping The Steal.
• “Incompetent And Weak” – Trump Blasts The Supreme Court For Not Standing Up To Fraud.
• Georgia’s Corrupt Republican Leadership Gave Joe Biden Win By Less Than 12,000 Votes – Yet 460,000 Drop Box Ballots STILL MISSING Chain of Custody Documentation Required by Law.
• Joe Biden Tells Trump to Sign COVID Bill and Send Money to Foreign Nations.
• Attorney Sidney Powell Releases 270 Page Document on Massive 2020 Election Fraud Involving Foreign Interference.
• “Big Numbers Found In Arizona” — Trump: “We Must Win For Our Country!”

The Epoch Times:

•  China Insider: Chinese-Made Vaccines Questioned as Hundreds Get Infected.

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:                   

• China's Economy Set to Overtake U.S. Earlier Due to Covid Fallout.  
• How China Lost Patience With Jack Ma, Its Loudest Billionaire.  
• Japan Retail Sales Drop as Tokyo Prices Fall Most Since 2010.
  
• U.K. Investing Class Sounds Warning as Post-Brexit Reality Bites.
• Lockdown Extended for Sydney’s Northern Beaches as Cluster Grows.
  
• Sydney Lockdown Extended; Pope Makes Vaccine Plea: Virus Update.
  
• Pelosi Sets Up Showdown on Trump’s $2,000 Checks After GOP Balks.
• When Money Is Free, Lenders Start Charging for Everything Else.  
• U.S. Comfort Gauge for Economy Posts Steepest Slide Since April.

Wall Street Journal:

• Land Shortage Poses Test for U.S. Home Builders.
• Scientists Eye Potential Culprit Behind Vaccine Allergic Reactions.
• Businesses Brace for Disruption Despite Post-Brexit Deal.
• How Coronavirus Lockdowns Changed Our Lives.
• In a Chaotic Market Year, Hedge Funds Made Billions.

CNBC:

• Stocks ready to close out powerful 2020 as risks loom in January.

IG:

• Weekend Markets Trading Live.

MarketWatch.com:     

• These electric trucks are coming soon—here’s prices, how far they’ll go and how much they’ll tow.

Fox News:

• COVID vaccine causes side effects if you've had cosmetic work done.

LA Times: 

• L.A. County is probing whether a new, more contagious COVID strain is spreading locally.

Newsmax: 

• Nashville Blast Knocks Communications Offline; Remains Found as Mystery Deepens.  
• Dems in Ga. Senate Runoff Raise $200M in 2 Months.
• High Court Won't Weigh Latest Pa. Challenge Till After Inauguration.
  

Zero Hedge:

• Major AT&T Outage In Nashville After RV Bombing.
• "Breakthrough" - IBM And Fujifilm Develop New Magnetic Tape With 580TB Capacity.
• California Doctor Fired After Writing Letter Criticizing Lockdown Orders.
• Roger Stone Announces $25M Lawsuit Against DOJ, Mueller, Comey, Barr And Brennan.
• Where Analysts Are Most Optimistic And Pessimistic On Company Ratings For 2021.
• Leaked Docs Reveal How China's 'Army Of Paid Internet Trolls' Helped Censor COVID-19.
• UK's Largest Testing Lab Suffers COVID-19 Outbreak According To Whistleblower.
• Did Fauci Just Admit He Lied About Herd Immunity To Trick Americans Into Vaccine?
• US Requires All UK Travelers To Test Negative For COVID, CDC Rules.
• Colleges Are Finally Starting To Cut Tuition.
• Shutdown Looms As Democrat Bid For $2,000 Relief Checks Fails House, Here's What Happens Next.
  

TheGatewayPundit.com:

• VOTER FRAUD ON DISPLAY: Houston Ballots All Have Same Signature and Same Address.
• OUTRAGEOUS! Mitch McConnell Will Reach Out to Senator-Elect Tommy Tuberville and Urge Him Turn His Back on Trump in Electoral College Vote.
• President Trump Tells White House Staff to Ignore Any Mentions of Packing for Departure.
• “If You Can Hear This Message, Evacuate Now” – Audio Warning Broadcast Ahead Explosion in Nashville (VIDEO).
• Nashville PD Releases Photo of RV That Exploded Christmas Morning, Asks the Public For Help.

The Epoch Times:

• China’s Shenyang City in ‘Wartime’ Mode After Local COVID-19 Outbreak.
• Chinese Firms Owe Roughly $24 Billion in Overdue Credit Bonds.

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).

Stocks Slightly Higher into Final Hour on Stimulus Hopes, Seasonal Strength, Technical Buying, Homebuilding/REIT Sector Strength

Broad Equity Market Tone:

• Advance/Decline Line: Lower
  

• Sector Performance: Most Sectors Declining
  

• Volume: Light

• Market Leading Stocks: Underperforming
  

Equity Investor Angst:

• Volatility(VIX) 22.0 -5.7%
• Bloomberg Global Risk On/Risk Off Index 1,484.0 +99.0 points

• Euro/Yen Carry Return Index 130.58 +.07%

• Emerging Markets Currency Volatility(VXY) 10.5 unch.

• S&P 500 Implied Correlation 47.4 -4.2%

• ISE Sentiment Index 108.0 +2.0 points
  

• Total Put/Call .75 -6.3%

• NYSE Arms 2.5 +236.4%

Credit Investor Angst:

• North American Investment Grade CDS Index 52.75 -3.1%
  

• US Energy High-Yield OAS 575.29 -.18%

• European Financial Sector CDS Index 58.31 -5.4%

• Italian/German 10Y Yld Spread 113.0 unch.
  

• Asia Ex-Japan Investment Grade CDS Index 58.02 -.52%
  

• Emerging Market CDS Index 157.27 -1.08%
  

• iBoxx Offshore RMB China Corporate High Yield Index 183.81 -.01%

• 2-Year Swap Spread 8.75 -.25 basis point

• TED Spread 15.75 -1.0 basis point
  

• 3-Month EUR/USD Cross-Currency Basis Swap -22.75 +2.75 basis points
  
• MBS  5/10 Treasury Spread  74.75 +.5 basis point
  
• IHS Markit CMBX BBB- 6 72.75 unch.

Economic Gauges:

• Bloomberg Emerging Markets Currency Index 62.55 +.29%
• 3-Month T-Bill Yield .08% unch.
  

• Yield Curve 82.5 +3.25 basis points
  

• China Iron Ore Spot 160.48 USD/Metric Tonne -2.32%

• Citi US Economic Surprise Index 50.0 -1.0 point

• Citi Eurozone Economic Surprise Index 200.20 -1.6 points
  

• Citi Emerging Markets Economic Surprise Index 70.6 -.2 point

• 10-Year TIPS Spread 1.97 unch.
• 100.0% chance of no change at March 17th meeting, 100.0% chance of no change at April 28th meeting

Overseas Futures:

• Nikkei 225 Futures: Indicating -33 open in Japan 
• China A50 Futures: Indicating -1 open in China

• DAX Futures: Indicating -3 open in Germany

Portfolio:

• Higher: On gains in my tech/medical/industrial sector longs, index hedges and emerging market shorts
  

• Disclosed Trades: None
  

• Market Exposure: 50% Net Long

Bear Radar

Style Underperformer:

• Small-Cap Growth -.6%

Sector Underperformers:

• 1) Oil Service -1.7% 2) Digital Health -1.4% 3) Social Media -1.4%

Stocks Falling on Unusual Volume: 

• MTDR, INSG, FLGT, RVP, PLTR, CRDF, LOAK, RKT, REGI, NK, MSTR, PEN, AXTI, DDD, SPCE, FIII, RIDE, ZI, IPV, MRNA, RIOT, PACB, SI, ADPT, CRSR, SSYS, OMI, LQDT, LUNA, NKLA, TCS, SYRS, HYLN, LMND, ROOT, PRLB, NVTA, FEYE, XL, LAZR, FCEL, CDAK, DM, VLDR, ALT, FUBO and EOSE
  

Stocks With Unusual Put Option Activity:

• 1) CALA 2) KWEB 3) FEYE 4) JNK 5) IWO
  

Stocks With Most Negative News Mentions:

• 1) BABA 2) FUBO 3) DM 4) CFII 5) ALT
  

Charts:

• ETFs Falling on Unusual Volume
• Stocks Falling on Unusual Volume

Bull Radar

Style Outperformer:

• Large-Cap Growth +.2%

Sector Outperformers:

• 1) Homebuilding +1.5% 2) Gold & Silver +.6% 3) Road & Rail +.5%

Stocks Rising on Unusual Volume:

• NLTX, BLNK, RMG, IEA, GHIV, ODT, FUV, STPK, SBE, PRPL, APXT, IPOC, THBR, APXT, SOL, NGA, QS and ATAC
  

Stocks With Unusual Call Option Activity:

• 1) SENS 2) UFS 3) UUP 4) FLIR 5) NOC

Stocks With Most Positive News Mentions:

• 1) AIM 2) SENS 3) ALSK 4) SCTY 5) XP
  

Charts:

• ETFs Rising on Unusual Volume
• Stocks Rising on Unusual Volume

Morning Market Internals

NYSE Composite Index:

• Volume Running -29.3% Below 100-Day Average
• 4 Sectors Rising, 7 Sectors Declining
• 52.5% of Issues Advancing, 44.3% Declining
• 155 New 52-Week Highs, 2 New Lows
• 84.7% of Issues Above 200-day Moving Average
• Average 14-Day RSI 51.4% 
• Bloomberg Global Risk-On/Risk-Off Index 1,476.0 +91.0 points
• Vix 22.0 -5.7%
• Total Put/Call .68 -15.0%
• TRIN/Arms 2.38 +222.9%

Thursday Watch

Night Trading 

• Asian equity indices are unch. to +.5% on average.

• Asia Ex-Japan Investment Grade CDS Index 58.25 -.25 basis point.

• China Sovereign CDS 29.0 -.25 basis point.

• Bloomberg Emerging Markets Currency Index 62.39 +.03%.
• Bloomberg Global Risk-On/Risk Off Index 1,375.0 -10.0 points.
• Volatility Index(VIX) futures 24.45 -.71%
• FTSE 100 futures +.26%.

• S&P 500 futures +.13%.

• NASDAQ 100 futures +.05%.

Morning Preview Links

Earnings of Note 
Company/Estimate 

 

Before the Open: 

• None of note
  

After the Close:

• None of note
  

Economic Releases

• None of note

Upcoming Splits

• None of note
  

Other Potential Market Movers

• The Japan Unemployment Rate and the Bloomberg Weekly Consumer Comforit Index could also impact trading today.

Market Hours
Normal:

• 9:30 am - 1:00 pm EST
  

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

Stocks Rising into Final Hour on Stimulus Hopes, Oil Gain, Short-Covering, Energy/Financial Sector Strength

Broad Equity Market Tone:

• Advance/Decline Line: Substantially Higher
  

• Sector Performance: Most Sectors Rising
  

• Volume: Below Average

• Market Leading Stocks: Performing In Line
  

Equity Investor Angst:

• Volatility(VIX) 22.5 -7.2%
• Bloomberg Global Risk On/Risk Off Index 1,447.0 +270.0 points

• Euro/Yen Carry Return Index 130.53 +.13%

• Emerging Markets Currency Volatility(VXY) 10.5 -.75%

• S&P 500 Implied Correlation 49.5 unch.

• ISE Sentiment Index 106.0 +20.0 points
  

• Total Put/Call .73 +21.7%

• NYSE Arms .61 -53.8%

Credit Investor Angst:

• North American Investment Grade CDS Index 54.22 -2.76%
  

• US Energy High-Yield OAS 576.78 -.72%

• European Financial Sector CDS Index 58.55 -8.86%

• Italian/German 10Y Yld Spread 113.0 -2.0 basis points
  

• Asia Ex-Japan Investment Grade CDS Index 58.31 +1.18%
  

• Emerging Market CDS Index 159.04 -1.75%
  

• iBoxx Offshore RMB China Corporate High Yield Index 183.82 +.18%

• 2-Year Swap Spread 9.0 +.25 basis point

• TED Spread 16.75 +.75 basis point
  

• 3-Month EUR/USD Cross-Currency Basis Swap -25.5 +8.25 basis points
  
• MBS  5/10 Treasury Spread  74.25 -1.75 basis points
  
• IHS Markit CMBX BBB- 6 72.75 unch.

Economic Gauges:

• Bloomberg Emerging Markets Currency Index 62.36 +.13%
• 3-Month T-Bill Yield .08% +1.0 basis point
  

• Yield Curve 79.25 -1.5 basis points
  

• China Iron Ore Spot 162.50 USD/Metric Tonne +.3%

• Citi US Economic Surprise Index 51.0 -14.2 points

• Citi Eurozone Economic Surprise Index 201.80 +1.4 points
  

• Citi Emerging Markets Economic Surprise Index 70.8 +.5 point

• 10-Year TIPS Spread 1.97 +3.0 basis points
• 100.0% chance of no change at March 17th meeting, 100.0% chance of no change at April 28th meeting

Overseas Futures:

• Nikkei 225 Futures: Indicating +166 open in Japan 
• China A50 Futures: Indicating +36 open in China

• DAX Futures: Indicating +9 open in Germany

Portfolio:

• Slightly Higher: On gains in my tech/biotech/industrial/consumer staple sector longs
  

• Disclosed Trades: None
  

• Market Exposure: 50% Net Long

Bear Radar

Style Underperformer:

• Mid-Cap Growth -.2%

Sector Underperformers:

• 1) Homebuilding -1.7% 2) Internet -.6% 3) Networking -.6%

Stocks Falling on Unusual Volume: 

• SPRO, MP, ACMR, KPTI, SFIX, SQ, ATOM, LGIH, IIPR, REAL, TPIC, IPV, MITK, RDFN, RVNC, SBE, MDB, PTGX, VLDR, LQDT, LAZR, ZM, CLSK, EVLO, DNLI, INSG, PRTS, CVM, LQDT, W, CVNA, FUBO, MARA, BAND, BLNK, NKLA, ARCT and QS
  

Stocks With Unusual Put Option Activity:

• 1) DISCA 2) SWN 3) IVR 4) ITB 5) DD
  

Stocks With Most Negative News Mentions:

• 1) FUBO 2) ARCT 3) VYGR 4) PAYS 5) WMT
  

Charts:

• ETFs Falling on Unusual Volume
• Stocks Falling on Unusual Volume

Bull Radar

Style Outperformer:

• Small-Cap Value +1.4%

Sector Outperformers:

• 1) Airlines +3.4% 2) Banks +3.1% 3) Energy +3.1%

Stocks Rising on Unusual Volume:

• FCEL, EOSE, LGVW, SUPN, MGNI, DMTK, RIDE, LOAK, GME, GIK, NGA, IPOC, FEYE, TCS, PRLB, LMND, AXTI, GLSI, GHIV, HYLN, ITRI, DM, THBR, FIII, GAN and MWK
  

Stocks With Unusual Call Option Activity:

• 1) WATT 2) MARK 3) FLIR 4) PAYX 5) KOS

Stocks With Most Positive News Mentions:

• 1) IZEA 2) GNSS 3) PLTR 4) COP 5) DSS
  

Charts:

• ETFs Rising on Unusual Volume
• Stocks Rising on Unusual Volume

Morning Market Internals

NYSE Composite Index:

• Volume Running -8.7% Below 100-Day Average
• 10 Sectors Rising, 1 Sector Declining
• 69.5% of Issues Advancing, 27.5% Declining
• 179 New 52-Week Highs, 4 New Lows
• 84.0% of Issues Above 200-day Moving Average
• Average 14-Day RSI 50.0% 
• Bloomberg Global Risk-On/Risk-Off Index 1,394.0 +218.0 points
• Vix 23.0 -5.0%
• Total Put/Call .68 +13.3%
• TRIN/Arms .62 -53.0%