Evening Headlines

 Bloomberg:              

• Senate Runoff in Georgia at Center of Fresh Republican Lawsuits.
• BlackRock’s Fink Says IPO Fever Could End in ‘Many Accidents’.  
• White House Presses FDA; Record South Korean Cases: Virus Update.
• Gundlach’s DoubleLine Capital to Start Multi-Asset Trend Fund.  
• Airbnb Lenders Reap $1 Billion Windfall on Pandemic Lifeline.  
• Discover Joins Mastercard, Visa in Cutting Ties With Pornhub.
• Oil Ekes Out Weekly Gain After Retreating From Nine-Month High.

Wall Street Journal:

• FDA Advances Toward Authorizing Covid-19 Vaccine.
• When the Stock Market Is Too Much Fun.
• The Restaurant Lockdown Massacre.
• Tech IPO Bonanza Yields Riches for Venture-Capital Firms.

CNBC: 

• CDC will monitor for Bell’s palsy among Pfizer vaccine recipients, but sees no causal relationship.
• GE’s stock hasn’t done this since 1987, and it looks like a sell signal, trader says.

IG:

• Weekend Markets Trading Live.

MarketWatch.com:          

• How the U.K. became first to approve the Pfizer–BioNTech vaccine, and are there dangers in authorizing so fast?  
• Tesla stock falls after Jefferies downgrade: 'We don't believe in Tesla domination'.

Fox News:

• Fox News asked Joe Biden if his son committed a crime. Here's his response.
• FLEITZ: Pelosi must answer questions in Swalwell sexpionage scandal.

Newsmax:  

• WSJ: Barr Kept Quiet About 2 Hunter Biden Probes for Months.  
• Supreme Court Rejects Texas Lawsuit and Trump Bid to Undo Election Loss to Biden.
• Trump Blasts FBI, DOJ Over Hunter Biden Investigation.
  

Zero Hedge:

• Supreme Court Tosses Texas Bid To Overturn Election.
• Amazon Using Social Distancing Technology To Warn Staffers Who Get Too Close.
• Kass: Kids Are "Casualties Of War" In The Chicago Teachers Union's Power-Play To Keep Schools Closed.
• "They're Sweeping It Under The Rug": FBI Accused Of Covering Up Rampant Sexual Misconduct Among Top Ranks.  
• NYC Office Space For Rent Hits Highest Level Since 2003 As Goldman Flees For Florida.
• Australia Cancels COVID Vaccine Trial Over 'Unexpected' False Positives For HIV.
• The YouTube Ban Is Un-American, Wrong, And Will Backfire: Taibbi.
• Oracle Moves To Texas As Silicon Valley Exodus Accelerates.
• Is This Why The Media Is Suddenly Reporting On Hunter Biden's Corruption?
• Watch: How To Eviscerate Trust In Government "Science" In 16 Seconds.
• Wealth Taxes, Mask Nazis, And COVID Crackdowns... Oh My!
• More Than Half Of New York's Restaurants Are In Danger Of Closing.
• Cuomo Closes Indoor Dining In NYC; US COVID Deaths Top 300K: Live Updates.
• "No Deal" On Brexit Or COVID Relief Slams Stocks, Sends 2Y Yields Near Record Lows.
  

TheGatewayPundit.com:

• Study Shows Impossible Anomalies Causing Biden ‘win’ in Michigan — In 5 Seconds Biden Racked Up 140,000.
• Lin Wood Announces Georgia Case “Finally Docketed” at US Supreme Court.
• Michigan AG Hides Forensic Audit of Dominion Voting Machines in Antrim County Where 6,000 Votes Were Flipped From Trump to Biden.
• Alaska is 19th State to Join Amicus Curiae States in Texas SCOTUS Lawsuit – Having Found Their Balls.

The Epoch Times: 

• Georgia, Mired in Election Disputes, Fosters Cozy Ties With China.
• Dominion’s Ties to UBS, China.
• GOP Complaint Demands House Ethics Committee Investigate Swalwell Amid CCP Spy Report.

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).

Weekly Scoreboard*

S&P 500 3,659.16 -1.69%*

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

The Weekly Wrap by Briefing.com. 

 

Indices

• DJIA 30,049.44 -.95%

• NASDAQ 12,362.70 -1.47%

• Russell 2000 1,911.31 +.28%

• S&P 500 High Beta 56.98 -2.18%

• Goldman 50 Most Shorted 229.22 +.73%

• Wilshire 5000 38,181.25 -1.22%

• Russell 1000 Growth 2,331.65 -1.76%

• Russell 1000 Value 1,331.12 -1.29%

• S&P 500 Consumer Staples 691.54 -.54%

• MSCI Cyclicals-Defensives Spread 1,340.47 -.64%
  

• NYSE Technology 3,540.35 -1.87%

• Transports 12,689.17 -.95%

• Utilities 854.30 -.37%

• Bloomberg European Bank/Financial Services 58.94 -6.1%

• MSCI Emerging Markets 50.76 -.25%

• HFRX Equity Hedge 1,300.33 +.19%

• HFRX Equity Market Neutral 915.49 -.23%

Sentiment/Internals

• NYSE Cumulative A/D Line 440,135 +.76%

• Bloomberg New Highs-Lows Index 579 -442

• Crude Oil Commercial Bullish % Net Position -46.40 -7.25%

• CFTC Oil Net Speculative Position 517,165 -1.05%

• CFTC Oil Total Open Interest 2,122,605 +1.90%

• Total Put/Call .98 +37.3%

• OEX Put/Call 1.79 -33.7%

• ISE Sentiment 108.0 +21.0 points

• NYSE Arms 1.45 +103.7% 
• Bloomberg Global Risk-On/Risk-Off Index 1,200.0 -378.0 points
  

• Volatility(VIX) 23.40 +19.2%

• S&P 500 Implied Correlation 48.28 +3.5%

• G7 Currency Volatility (VXY) 7.6 +5.3%
  

• Emerging Markets Currency Volatility (EM-VXY) 10.25 -.77%

• Smart Money Flow Index 13,101.60 +.71%

• ICI Money Mkt Mutual Fund Assets $4.343 Trillion +.53%

• ICI Domestic Equity Long-Term Mutual Fund/ETFs Weekly Flows +$.452 Million

• AAII % Bulls 48.1 -2.1%

• AAII % Bears 26.9 +18.4%

Futures Spot Prices

• CRB Index 161.16 +.95%

• Crude Oil 46.60 +1.1%

• Reformulated Gasoline 130.85 +3.95%

• Natural Gas 2.59 +1.5%

• Heating Oil 143.76 +2.26%

• Gold 1,843.0 +.22%

• Bloomberg Base Metals Index 212.30 +.88%

• Copper 353.05 -.09%

• US No. 1 Heavy Melt Scrap Steel 405.0 USD/Metric Tonne +5.2%

• China Iron Ore Spot 157.34 USD/Metric Tonne +9.4%

• Lumber 793.10 +14.5%

• UBS-Bloomberg Agriculture 973.42 +1.17%

Economy

• Atlanta Fed GDPNow Forecast +11.15% +.06 percentage point
  

• ECRI Weekly Leading Economic Index Growth Rate +12.1% +1.1 percentage points
  
• Bloomberg US Recession Probability Next 12 Months 20.0% -5.0 percentage points
  

• NY Fed Real-Time Weekly Economic Index -2.39 -14.9%

• US Economic Policy Uncertainty Index 233.11 +55.6%

• S&P 500 Blended Forward 12 Months Mean EPS Estimate 166.52 +.70%

• Citi US Economic Surprise Index 78.20 +3.9 points

• Citi Eurozone Economic Surprise Index 141.20 +4.5 points

• Citi Emerging Markets Economic Surprise Index 66.7 +6.4 points

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

• US Dollar Index 90.96 +.21%

• MSCI Emerging Markets Currency Index 1,714.47 +.09%

• Bitcoin/USD 17,995.81 -4.4%

• Euro/Yen Carry Return Index 130.33 -.34%

• Yield Curve 77.25 -4.25 basis points
  

• 10-Year US Treasury Yield .89% -8.0 basis points

• Federal Reserve's Balance Sheet $7.203 Trillion +.29%

• U.S. Sovereign Debt Credit Default Swap 15.75 +4.3%

• Illinois Municipal Debt Credit Default Swap 323.24 -.05%
  

• Italian/German 10Y Yld Spread 119.0 +2.0 basis points
  

• China Sovereign Debt Credit Default Swap 29.31 +1.8%
  

• Brazil Sovereign Debt Credit Default Swap 154.96 +1.22%
  

• Israel Sovereign Debt Credit Default Swap 45.82 -2.95%

• South Korea Sovereign Debt Credit Default Swap 21.5 +6.0%

• Russia Sovereign Debt Credit Default Swap 77.82 +3.3%

• iBoxx Offshore RMB China Corporate High Yield Index 181.99 -.02%

• 10-Year TIPS Spread 1.87% -3.0 basis points

• TED Spread 15.5 +.5 basis point

• 2-Year Swap Spread 7.5 -.75 basis point
  

• 3-Month EUR/USD Cross-Currency Basis Swap -21.75 -1.75 basis points

• N. America Investment Grade Credit Default Swap Index 54.08 +8.5%
  

• America Energy Sector High-Yield Credit Default Swap Index 421.0 -3.93%

• European Financial Sector Credit Default Swap Index 62.83 +14.3%
  

• Emerging Markets Credit Default Swap Index 166.77 +4.7%
  

• MBS 5/10 Treasury Spread 70.25 -3.75 basis points
• Markit CMBX BBB-6 72.56 +1.05%

• M1 Money Supply $6.543 Trillion +5.0%

• Commercial Paper Outstanding 990.10 +2.2%

• 4-Week Moving Average of Jobless Claims 776,000 +4.8%

• Continuing Claims Unemployment Rate 3.9% +10.0 basis points
  

• Average 30-Year Mortgage Rate 2.71% unch.

• Weekly Mortgage Applications 8458,200 -1.15%

• Bloomberg Consumer Comfort 49.0 -.3 point

• Weekly Retail Sales +2.1% -160.0 basis points

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

• Baltic Dry Index 1,161 -3.01%

• China (Export) Containerized Freight Index 1,411.98 +6.7%

• Oil Tanker Rate(Arabian Gulf to U.S. Gulf Coast) 17.50 unch.
• Truckstop.com Market Demand Index 103.45 +28.7%

• Rail Freight Carloads 297,217 +20.6%

Best Performing Style

• Small-Cap Growth +1.3%

Worst Performing Style

• Large-Cap Growth -1.8%
  

Leading Sectors

• Tobacco +5.1%

• Education +2.4%
  

• Shipping +1.4%

• Digital Health +1.2%

• Biotech +.9%
  

Lagging Sectors

• Healthcare Providers -2.4%
  

• Gaming -2.4%

• REITs -3.1%

• Semis -3.9%

• Airlines -4.2%

Weekly High-Volume Stock Gainers (16)

• DIS, FIII, NK, QELL, INSG, CNK, EGHT, CLSK, MP, EIDX, SDGR and EXPI
  

Weekly High-Volume Stock Losers (28)

• BIG, HQY, DLTH, CDMO, COLL, BIGC, EHTH, CCL, QRVO, FSR, ACAD, EGAN, RETA, RH, PEN, CRC, TFFP, PLAY, CONN, SPT, ICPT, JBLU, HA, FIZZ, SABR, UNFI and SRG
  

ETFs

• High-Volume Gainers

• High-Volume Losers

Stocks

• High-Volume Gainers

• High-Volume Losers

*5-Day Change

Stocks Lower into Afternoon on Virus Shutdown Fears, Diminished Stimulus Hopes, Oil Decline, Financial/Energy Sector Weakness

Broad Equity Market Tone:

• Advance/Decline Line: Substantially Lower
  

• Sector Performance: Most Sectors Declining
  

• Volume: Around Average

• Market Leading Stocks: Underperforming
  

Equity Investor Angst:

• Volatility(VIX) 23.8 +5.7%
• Bloomberg Global Risk On/Risk Off Index 1,169.0 -137.0 points

• Euro/Yen Carry Return Index 130.43 -.44%

• Emerging Markets Currency Volatility(VXY) 10.3 +.20%

• S&P 500 Implied Correlation 48.4 +.81%

• ISE Sentiment Index 146.0 +56.0 points
  

• Total Put/Call .98 +40.0%

• NYSE Arms 1.57 +68.5%

Credit Investor Angst:

• North American Investment Grade CDS Index 53.60 +1.44%
  

• US Energy High-Yield OAS 592.85 -.08%

• European Financial Sector CDS Index 63.80 +7.5%

• Italian/German 10Y Yld Spread 119.0 +2.0 basis points
  

• Asia Ex-Japan Investment Grade CDS Index 58.57 +.89%
  

• Emerging Market CDS Index 165.69 +1.31%
  

• iBoxx Offshore RMB China Corporate High Yield Index 181.99 +.04%

• 2-Year Swap Spread 7.5 +.5 basis point

• TED Spread 15.5 unch.
  

• 3-Month EUR/USD Cross-Currency Basis Swap -21.75 -2.25 basis points
  
• MBS  5/10 Treasury Spread  72.0 -2.5 basis points
  
• IHS Markit CMBX BBB- 6 72.5 unch.

Economic Gauges:

• Bloomberg Emerging Markets Currency Index 62.37 -.12%
• 3-Month T-Bill Yield .07% unch.
  

• Yield Curve 77.25 -.75 basis point
  

• China Iron Ore Spot 157.82 USD/Metric Tonne +.67%

• Citi US Economic Surprise Index 78.20 +9.0 points

• Citi Eurozone Economic Surprise Index 141.2 +.4 point
  

• Citi Emerging Markets Economic Surprise Index 66.70 +5.9 points

• 10-Year TIPS Spread 1.87 -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 -122 open in Japan 
• China A50 Futures: Indicating -12 open in China

• DAX Futures: Indicating +15 open in Germany

Portfolio:

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

• Disclosed Trades: None
  

• Market Exposure: 50% Net Long

Bear Radar

Style Underperformer:

• Small-Cap Value -.9%

Sector Underperformers:

• 1) Airlines -3.3% 2) Steel -2.3% 3) Oil Service -2.2%

Stocks Falling on Unusual Volume: 

• CPE, BIGC, IPOB, QRVO, BIG, LPRO, SATS, LOVE, SWKS, RH, CCL, MD, CUK, GIII, YETI, IRTC, WES, ASAN, GLW, HA, ATHA, MTN, ECOM, CLF, PIC, ARCH, ICPT, JBLU, X, SPWH, EXPE, THC, WMS, AAL, M, COG, COG, SNOW, FUBO, NTLA, FIZZ, EQT, RAD, YELP, LQDT, SABR, ODT, QCOM, VLDR, LMND, SSPK, IGMS, UNFI, OPCH, SBE, TWST, CRC, EDIT, QS, CIIC, LAZR, SRG, SGMO and GLSI
  

Stocks With Unusual Put Option Activity:

• 1) DD 2) QCOM 3) DIS 4) JETS 5) XLF
  

Stocks With Most Negative News Mentions:

• 1) PBF 2) SNOW 3) GLW 4) AAL 5) SQBG
  

Charts:

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