Evening Headlines

Bloomberg:          

• Azar Uses UN Podium to Make Veiled Jab at China on Pandemic.  
• Oil Analysts See Battle for Asian Market Ahead of Peak Demand.
• Oil Rises for Fifth Week With OPEC+ Deal Uncertainty in Rearview.
• Stimulus Bets Push 10-Year Treasury Yields to Eight-Month High.
• Red-Hot Stock Rally Powered by Companies With Shaky Finances.
• When Local Leaders Can’t Follow Their Own Rules.
  
• Avocados Are the ‘Pandemic-Proof’ Crop in Lockdown Health Craze.  
• Ford Delays Bronco SUV Due to Virus-Related Supplier Problems.  
• Citi Cuts NYC-Area Office Staff in Echo of Pandemic’s Early Days.  
• Vaccines’ Side Effects Risk Sidelining Health Workers While Cases Surge.

Wall Street Journal:

• U.S. Will Move Nearly All Troops Out of Somalia.
• Oregon’s Segregated Covid Relief Fund Is Blatantly Unconstitutional.
• The Covid Crisis Taught David Farr the Power and Limits of Being the Boss.
• How Much Can ‘Buy Black’ Lift Black-Owned Businesses?
• About 150 U.S. Cadillac Dealers to Exit Brand Rather Than Sell Electric Cars.
• I Started Trading Hot Stocks on Robinhood. Then I Couldn’t Stop.

CNBC: 

• Inside AT&T’s WarnerMedia as it dismantles the old Time Warner to battle Netflix.
• Payment pause for student loan borrowers will be extended, U.S. Department of Education says.
• House passes bill to decriminalize marijuana, set up steps to wipe out convictions.

IG:

• Weekend Markets Trading Live.

MarketWatch.com:      

• Smith & Wesson’s stock jumps as record gun demand fuels latest earnings surprise.  
• This 25-year-old is now a billionaire, after his self-driving car company Luminar went public.  
• A popular stock-market indicator flashes red as Dow soars to records Friday.

Fox News:

• Judge reinstates Obama-era immigration program Trump tried to end.
• Pelosi's explanation for flip-flop on COVID relief should anger you.
• China has sinister reason for collecting world's DNA: Chang.
  

Zero Hedge:

• In Bizarre Interview, Biden Jokes He Would 'Fake Illness And Resign' Over Disagreement.
• San Francisco Orders New COVID Lockdown; CDC Asks Americans To Wear Masks Indoors Unless At Home.
• These Are The Hypocritical Government Officials Who Demand You Stay Home While They Party.
• "It Was No Longer Safe For Me To Live In China": Former Chinese Communist Party Insider Breaks With Beijing.
• The Plot Against Small Businesses.
• Restaurants Slashed Jobs Last Month.
• Governor Urges Kids To Rat Out Their Parents' COVID-Rule Violations.
• How "Highly Sophisticated" Chinese Money Brokers Launder Mexican Drug Cartel Money On Burner Phones.
• Mayor Garcetti Bans Walking As Latest LA Lockdown Begins.
• The Energy Rally Is Likely Premature.
• Bank of America Issues A "Code Red" For Stocks.
• Elon Musk Is Reportedly Moving To Texas.
• Conflict Over COVID 'Science' Sparks Santelli & Sorkin Screamfest .
• Stocks Soar To Record Highs As Dollar Dumps After Dismal Data.
  

@kylenabecker:

• Dominion. Newest revelations: It was hooked up to Internet, despite denials. Stored vote results on easily breached thumb drives. Forensic audit suggests 'vote-flip' in GA county. 5% Biden overperformance vs. other voting systems. Under audit in GA, MI & AZ. 
• GA officials are pressing a judge to "lift an order that is BLOCKING officials from altering information in voting machines in three counties." Election officials warn if they *don't* wipe the machines clean there could be *GRAVE AND SERIOUS CONSQUENCES.*

TheGatewayPundit.com:

• Obama Judge in Nevada Denies Trump Campaign’s Lawsuit – Ignores 20 Books Full of Evidence.
• UNBELIEVABLE: Anti-Trump Democrat In Georgia ‘Suitcase Scandal’ Caught Running Same Batch of Ballots Through Tabulator THREE TIMES! (VIDEO).

The Epoch Times:

• China Insider: French MPs Question the Origin of Organ Transplants in China.
• Trump Administration Sanctions Chinese Officials Involved in Malign Foreign Influence Activities.

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).

Weekly Scoreboard*

S&P 500 3,691.48 +1.5%

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

The Weekly Wrap by Briefing.com. 

 

Indices

• DJIA 30,131.56 +.81%

• NASDAQ 12,442.96 +1.97%

• Russell 2000 1,885.77 +1.56%

• S&P 500 High Beta 57.57 +4.89%

• Goldman 50 Most Shorted 225.45 +2.54%

• Wilshire 5000 38,373.90 +1.52%

• Russell 1000 Growth 2,353.50 +1.46%

• Russell 1000 Value 1,338.92 +1.63%

• S&P 500 Consumer Staples 689.89 +.48%

• MSCI Cyclicals-Defensives Spread 1,352.70 -.09%
  

• NYSE Technology 3,576.18 +2.58%

• Transports 12,720.40 +1.37%

• Utilities 853.14 -2.35%

• Bloomberg European Bank/Financial Services 62.75 +3.17%

• MSCI Emerging Markets 50.71 +1.56%

• HFRX Equity Hedge 1,292.13 +.32%

• HFRX Equity Market Neutral 915.84 +.21%

Sentiment/Internals

• NYSE Cumulative A/D Line 436,827 +.65%

• Bloomberg New Highs-Lows Index 1,021 +100

• Crude Oil Commercial Bullish % Net Position -43.26 unch.

• CFTC Oil Net Speculative Position 522,639 +8.7%

• CFTC Oil Total Open Interest 2,083,018 -.04%

• Total Put/Call .65 -12.2%

• OEX Put/Call 2.54 -4.52%

• ISE Sentiment 129.0 -58.0 points

• NYSE Arms .92 -45.2% 
• Bloomberg Global Risk-On/Risk-Off Index 1,578.0 +259.0 points
  

• Volatility(VIX) 20.70 -.43%

• S&P 500 Implied Correlation 47.78 -4.23%

• G7 Currency Volatility (VXY) 7.2 +6.96%
  

• Emerging Markets Currency Volatility (EM-VXY) 10.35 +1.4%

• Smart Money Flow Index 13,009.39 -.88%

• ICI Money Mkt Mutual Fund Assets $4.320 Trillion -.09%

• ICI Domestic Equity Long-Term Mutual Fund/ETFs Weekly Flows -$.487 Million

• AAII % Bulls 49.1 +3.9%

• AAII % Bears 22.7 -17.4%

Futures Spot Prices

• CRB Index 159.89 -1.02%

• Crude Oil 46.05 +.59%

• Reformulated Gasoline 126.51 +.04%

• Natural Gas 2.55 -9.7%

• Heating Oil 139.93 +.71%

• Gold 1,840.0 +3.1%

• Bloomberg Base Metals Index 210.45 +2.07%

• Copper 352.5 +3.4%

• US No. 1 Heavy Melt Scrap Steel 385.0 USD/Metric Tonne +21.8%

• China Iron Ore Spot 144.4 USD/Metric Tonne +14.7%

• Lumber 678.30 +7.3%

• UBS-Bloomberg Agriculture 962.57 -2.3%

Economy

• Atlanta Fed GDPNow Forecast +11.17% +.06 percentage point
  

• ECRI Weekly Leading Economic Index Growth Rate +11.0% +1.4 percentage points
  
• Bloomberg US Recession Probability Next 12 Months 25.0% unch.
  

• NY Fed Real-Time Weekly Economic Index -2.31 +19.5%

• US Economic Policy Uncertainty Index 180.42 +23.5%

• S&P 500 Blended Forward 12 Months Mean EPS Estimate 165.37 +.38%

• Citi US Economic Surprise Index 74.30 -5.7 points

• Citi Eurozone Economic Surprise Index 136.70 +19.0 points

• Citi Emerging Markets Economic Surprise Index 60.3 -3.2 points

• Fed Fund Futures imply 100.0% chance of no change, 0.0% chance of rate hike on 12/16

• US Dollar Index 90.63 -1.2%

• MSCI Emerging Markets Currency Index 1,705.83 +.66%

• Bitcoin/USD 19,009.06 +11.8%

• Euro/Yen Carry Return Index 130.93 +1.5%

• Yield Curve 81.5 +13.0 basis points
  

• 10-Year US Treasury Yield .97% +13.0 basis points

• Federal Reserve's Balance Sheet $7.182 Trillion +.07%

• U.S. Sovereign Debt Credit Default Swap 15.08 +1.35%

• Illinois Municipal Debt Credit Default Swap 323.40 -.84%
  

• Italian/German 10Y Yld Spread 117.0 -1.25 basis points
  

• China Sovereign Debt Credit Default Swap 28.9 -4.1%
  

• Brazil Sovereign Debt Credit Default Swap 153.02 -7.5%
  

• Israel Sovereign Debt Credit Default Swap 47.22 +2.2%

• South Korea Sovereign Debt Credit Default Swap 19.76 -3.8%

• Russia Sovereign Debt Credit Default Swap 75.08 -5.6%

• iBoxx Offshore RMB China Corporate High Yield Index 182.04 +.78%

• 10-Year TIPS Spread 1.90% +14.0 basis points

• TED Spread 15.0 unch.

• 2-Year Swap Spread 8.25 -1.5 basis points
  

• 3-Month EUR/USD Cross-Currency Basis Swap -20.0 -1.5 basis points

• N. America Investment Grade Credit Default Swap Index 49.88 -3.22%
  

• America Energy Sector High-Yield Credit Default Swap Index 438.0 -5.83%

• European Financial Sector Credit Default Swap Index 54.90 -8.75%
  

• Emerging Markets Credit Default Swap Index 158.32 -4.19%
  

• MBS 5/10 Treasury Spread 70.25 -3.75 basis points
• Markit CMBX BBB-6 71.0 -.18%

• M1 Money Supply $6.231 Trillion +8.68%

• Commercial Paper Outstanding 968.90 -1.5%

• 4-Week Moving Average of Jobless Claims 739,500 -1.5%

• Continuing Claims Unemployment Rate 3.8% -80.0 basis points
  

• Average 30-Year Mortgage Rate 2.71% -1.0 basis point

• Weekly Mortgage Applications 8458,200 -.63%

• Bloomberg Consumer Comfort 49.3 -.3 point

• Weekly Retail Sales +3.7% +180.0 basis points

• Nationwide Gas $2.16/gallon +.03/gallon

• Baltic Dry Index 1,189 -3.33%

• China (Export) Containerized Freight Index 1,145.67 +3.47%

• Oil Tanker Rate(Arabian Gulf to U.S. Gulf Coast) 17.50 +16.7%
• Truckstop.com Market Demand Index 80.4 -17.9%

• Rail Freight Carloads 246,504 -18.1%

Best Performing Style

• Mid-Cap Growth +2.2%

Worst Performing Style

• Large-Cap Growth +.5%
  

Leading Sectors

• Disk Drives +8.3%

• Computer Hardware +7.4%
  

• Airlines +6.4%

• Oil Service +6.2%

• Semis +5.6%
  

Lagging Sectors

• Telecom unch. 

• Education -.2%

• Utilities -1.7%

• Homebuilding -3.8%

• Alt Energy -7.2%

Weekly High-Volume Stock Gainers (31)

• STRO, CPE, DOMO, SNOW, SUMO, TRNE, NCR, VERI, ARCT, X, CLDR, HCAC, APLS, NVCR, TWST, RMG, ROAD, PSTG, FEAC, LCA, DOCU, SI, RMBS, MU, RMBS, NS, DOCU and FTAI
  

Weekly High-Volume Stock Losers (2)

• EPR and OLLI
  

ETFs

• High-Volume Gainers

• High-Volume Losers

Stocks

• High-Volume Gainers

• High-Volume Losers

*5-Day Change

Stocks Higher into Final Hour on Economic Optimism, Vaccine Hopes, Short-Covering, Energy/Tech Sector Strength

Broad Equity Market Tone:

• Advance/Decline Line: Substantially Higher
  

• Sector Performance: Most Sectors Rising
  

• Volume: Above Average

• Market Leading Stocks: Outperforming
  

Equity Investor Angst:

• Volatility(VIX) 20.8 -2.1%
• Bloomberg Global Risk On/Risk Off Index 1,564.0 +100.0 points

• Euro/Yen Carry Return Index 130.90 +.22%

• Emerging Markets Currency Volatility(VXY) 10.4 +1.2%

• S&P 500 Implied Correlation 47.7 unch.

• ISE Sentiment Index 119.0 -21.0 points
  

• Total Put/Call .65 unch.

• NYSE Arms .88 -15.4%

Credit Investor Angst:

• North American Investment Grade CDS Index 50.11 +.79%
  

• US Energy High-Yield OAS 635.79 -1.7%

• European Financial Sector CDS Index 54.55 -4.4%

• Italian/German 10Y Yld Spread 117.0 +1.0 basis point
  

• Asia Ex-Japan Investment Grade CDS Index 57.07 -.98%
  

• Emerging Market CDS Index 158.85 -1.04%
  

• iBoxx Offshore RMB China Corporate High Yield Index 182.04 +.35%

• 2-Year Swap Spread 8.25 +.5 basis point

• TED Spread 15.0 -.5 basis point
  

• 3-Month EUR/USD Cross-Currency Basis Swap -20.0 -2.25 basis points
  
• MBS  5/10 Treasury Spread  70.5 -.5 basis point
  
• IHS Markit CMBX BBB- 6 71.0 unch.

Economic Gauges:

• Bloomberg Emerging Markets Currency Index 62.13 +.7%
• 3-Month T-Bill Yield .08% unch.
  

• Yield Curve 75.75 -2.25 basis points
  

• China Iron Ore Spot 144.10 USD/Metric Tonne +2.7%

• Citi US Economic Surprise Index 74.30 -.9 point

• Citi Eurozone Economic Surprise Index 136.7 +1.7 points
  

• Citi Emerging Markets Economic Surprise Index 60.30 -1.8 points

• 10-Year TIPS Spread 1.90 +3.0 basis points
• 100.0% chance of no change at Jan. 27th meeting, 100.0% chance of no change at March 17th meeting

Overseas Futures:

• Nikkei 225 Futures: Indicating +74 open in Japan 
• China A50 Futures: Indicating -22 open in China

• DAX Futures: Indicating -31 open in Germany

Portfolio:

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

• Disclosed Trades: Covered some of my (IWM)/(QQQ) hedges
  

• Market Exposure: Moved to 75% Net Long

Morning Market Internals

NYSE Composite Index:

• Volume Running +20.0% Above 100-Day Average
• 7 Sectors Rising, 4 Sectors Declining
• 74.5% of Issues Advancing, 22.6% Declining
• 193 New 52-Week Highs, 0 New Lows
• 84.8% of Issues Above 200-day Moving Average
• Average 14-Day RSI 56.5% 
• Bloomberg Global Risk-On/Risk-Off Index 1,585.0 +21.0 points
• Vix 20.7 -2.5%
• Total Put/Call .65 umch.
• TRIN/Arms 1.16 +11.5%