Monday Watch

Today's Headlines

Bloomberg:        

• China’s Industrial Profits Grow at Slower Pace in November.  
• China Approves Heavier Penalties on Capital Market Violations.  
• Iran Cuts Gas Flows to Iraq, Threatens Further Reductions.
• Ant Turning From Windfall to Nightmare for Its Global Investors.  
• China Tells Ant to Return To Its Roots, Imposes Curbs.  
• Brexit Deal Hands Business a Mix of Relief, Unwanted Change.
• German Minister Rejects Swift Easing as Death Toll Tops 30,000.
• Japan Will Ban Entry to Most Foreigners to Fight Virus.  
• Stocks, Equity Futures Climb; Dollar Edges Lower: Markets Wrap.  
• Oil Falls Below $48 on New Virus Strain, Lack of U.S. Stimulus.
  
• Trump Signs Virus Aid Bill After Panning $600 Stimulus Checks Read More.  
• Trump Signs Relief Bill; Japan Sets Travel Ban: Virus Update.  
• Top U.S. Health Officials Warn of Post-Holiday Coronavirus Surge.
• Bitcoin Faces Regulatory Scrutiny After Record-Breaking Rally.   
• Robinhood Financial Hit With Class-Action Suit for Selling Stock Orders.

Wall Street Journal:

• Trump Signs Sweeping Covid-19 Aid Package.
• These Brands Think Working From Home Is Here to Stay.
• The Woke See No Evil—and Nothing but Evil.
• The Year In Pictures.
• 2020 Was One of the Worst-Ever Years for Oil Write-Downs.
• Businesses Adapt Better to Virus Surge After Learning From Spring.
• Investors Double Down on Stocks, Pushing Margin Debt to Record.
• Coronavirus Stigma Lingers Long After Disease Fades.
• Firms Want to Adjust Supply Chains Post-Pandemic.
• ‘Startup City’: Accelerated Growth Strains Austin.

Fox News:

• Rising Democratic star takes heat as homicides soar.
• Trump calls out McConnell, Senate GOP – accuses them of giving up in election battle.

CNBC: 

• Wars, instability pose vaccine challenges in poor nations.
• Sara Blakely’s mom on raising 2 successful CEOs: Let your kids be ‘bored’.
• This chart shows how restaurant revenue has fallen, despite delivery boom.
• 5 charts show what the global economy looks like heading into 2021.
  

Zero Hedge: 

• Equity Futures Surge Off Weak Open After Trump Tweet, Gold Gains.
• Illegal Street Vendors "Overtaking" NYC And The Entire City is Blaming Bill De Blasio.
• Anthony Warner Died In Nashville RV Bombing, Police Chief Said.
• 2020 Gun Sales Shatter Records As Americans Lock N' Load.
• Railroads Slashed Jobs In Nov To Lowest In Decades... As Stocks Soared To Record Highs.
• Biden's "One Horse Pony" Problem: Why The Hunter Biden Scandal Is No Dead Horse.
• 2020: How COVID Was Used To Change The World Forever.
• For 55% Of Americans, 2020 Has Been "A Personal Financial Disaster".
• All I Want For Christmas Is A Bull Market
• The New COVID-19 Strain Is A Political Disaster Of Our Own Making
• Nashville Bomber May Have Died In Explosion; Feds Raid Suspect's House.
• Demand For Second Passports "Skyrockets" By 50% Amid Covid Travel Restrictions
• Wheels Come Off For Bus Companies, Closing Down Travel Options For Poor Americans.
• Passive Funds To Surpass Active By 2022.
• New Year's Week Storm Could Cause Havoc Across US.

MarketWatch.com:       

• Is Tesla the next AOL? That’s what this strategist is warning.
  

NewsMax:  

• Unemployment Benefits Expire for Millions as Trump Demands Stronger Stimulus.

TheGatewayPundit.com:

• “When It Is All Over – WE WILL WIN!” – President Trump Lays Out the Case for GOP Senators on the Historic Election Fraud.
• NY Governor Cuomo Grants Clemency To Illegal Aliens To Help Them Remain In The U.S.
• Developing: Dominion’s Anti-Trump Executive Eric Coomer Owns Patents on Adjudication Process That Investigators Found Skimmed Votes From Trump in Michigan.
• Dominion Voting Machines Are Related to Smartmatic/Sequoia Machines and They Do Have Functionality to Switch Votes Between Candidates.
• Bill Barr Did Not See Fraud Because He Refused To Look.
• VIDEO: IT Expert Ramsland: Audit in Savannah, Georgia Shows Tabulation Machines Were Sending Results to China 
• Fauci Defends Deliberately ‘Moving the Goalposts’ and Lying about Covid-19 Herd Immunity (VIDEO)
• Get Woke, Go Broke: NBA Christmas Day Ratings Tank Big Time.
• Mathematician Bobby Piton Finds More Than 500,000 Unique Last Names in Pennsylvania: ‘Sophisticated State Actor Was Able to Optimize Desired Outcome’.

The Epoch Times:

• As China Reports More COVID-19 Cases, College Students Voice Concerns About Lockdown Policies.
• Sina’s US Stock Market Departure Could Herald a Wave of Chinese Delistings.

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 -.5% to +.25% on average.
• Asia Ex-Japan Investment Grade CDS Index 57.5 -.75 basis point.
• China Sovereign CDS 29.0 unch.
• Bloomberg Emerging Markets Currency Index 62.55 +.02%.
• Bloomberg Global Risk-On/Risk Off Index 1,512.0 -11.0 points.
• Volatility Index(VIX) futures 23.65 -.73%. 
• Euro Stoxx 50 futures +.17%.
• S&P 500 futures +.35%.
• NASDAQ 100 futures +.35%.

Morning Preview Links

Earnings of Note

Company/Estimate

Before the Open:

• (WB)/.60
  

After the Close:

• None of note
  

Economic Releases

10:30 am EST

• The Dallas Fed Manufacturing Activity Index for Dec. is estimated to fall to 10.2 versus 12.0 in Nov.

Upcoming Splits

• None of note
  

Other Potential Market Movers

• The Government funding deadline and Hong Kong Trade Balance report 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 industrial and consumer 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:          

• 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