Today's Headlines

Bloomberg:        

• China Lawmakers Pass Export Control Law Protecting Tech.  
• Azerbaijan Says 13 Killed in Shelling as Conflict Escalates.
• ECB’s Panetta Says New Curbs Put Rebound Further From Reach.  
• Italy Considering Tightest Restrictions Since National Lockdown.
• Italy to Join France and U.K. in Virus Tightening as Cases Surge.
• Russia, Saudi Arabia Prepared to Keep Energy Market Stable.
• Nextdoor Is Said to Eye Public Listing, $5 Billion Valuation.  
• Goldman Warns of More Job Losses With Jumbo Mergers on the Rise.  
• Twitter Allows Links to N.Y. Post Story, Backtracking Again.  
• He Was Mexico’s Defense Chief. The U.S. Says He’s a Drug Dealer.
• Treat Covid-19 Early to Save Patients’ Lives, SARS Veteran Urges.

Wall Street Journal:

• U.S. Budget Gap Tripled to a Record in Last Fiscal Year.
• An Ex-Liberal Reluctantly Supports Trump.
• Packing the U.S. Senate.
• Coronavirus Threatens to Push the Child-Care Industry Over the Edge.
• Tech’s Influence Over Markets Eclipses Dot-Com Bubble Peak.
• With Fewer Covid Curbs, South’s Economy Outperforms Nation.
• Wall Street’s Hottest Financing Tool Makes Me Worry About the Market.
• Four Scandal-Ridden Firms, One Auditor: Ernst & Young.

CNBC:

• Why millions of freelancers fear a Biden presidency may put them out of work.
• HHS strikes vaccine deal with CVS and Walgreens for seniors in care facilities.
• Kamala Harris attends virtual fundraiser hosted by execs at real estate giant Related Companies
• iPhone price wars are back as carriers compete for 5G customers.
• Coronavirus pandemic bolsters push towards healthier building design.
• Investment companies may face even more consolidation after Morgan Stanley-Eaton Vance deal.
• Wall Street donors line up behind Biden in massive third-quarter fundraising haul.

IG:

• Weekend Markets Trading Live.

Barron's:

• Had bullish commentary on (PYPL), (V), (MA), (CVX) and (EBAY).
• Had bearish commentary on (TSLA), (ZM) and (SNOW).

MarketWatch.com:   

• Here are five stocks to own for the 5G network buildout .
  
• ‘Young and dumb’ traders have created a ‘total nightmare’ in the stock market, fund manager warns.

Fox News:

• ABC still mum after Biden town hall questioners ID'd as ex-Obama speechwriter, wife of prominent Dem.
• Biden snaps after CBS reporter asks about son Hunter’s alleged emails.
• NYPD faces shakeup amid huge spike in retirements and resignations.
• McConnell sets Wednesday vote for ‘skinny’ COVID relief package.
• Portland unrest drives powerful Dem's district toward GOP rival.
• Cops rip Biden’s claim they should be trained to shoot suspects ‘in the leg’.
  

Zero Hedge:

• Hunter Biden Business Associate Flips From Prison, Releases Emails Detailing China Influence-Peddling Operation.
• Senate Homeland Committee Demands Answers From FBI Over Hunter Biden Laptop.
• Full Story Behind Hunter's Laptop Debunks Latest Russia Conspiracy Theory.
• The Media Is Now Openly Pushing Secession As The Election Nears.
• Brown University Researcher Says Trump Signs, American Flags "Scare" & "Traumatize" Black People.
• In "Blunt Message" China Warns It Might Detain Americans If US Prosecutes PLA-Linked Academics.
• France Adds Record 32k COVID-19 Cases As New Restrictions Take Effect; Ireland Weighs Return To Lockdown: Live Updates.
• Facebook And Twitter's Intervention Highlights Dangerous New Double Standard: Taibbi.
• Imagine If MSM Consistently Applied The Evidentiary Standards It's Applying To Hunter Biden's Emails.
• 'We Will Not Be Deterred' - Trudeau Responds After Beijing Directly Threatens "Health & Safety" Of 300,000 Canadians In Hong Kong.
• Former French President Nicolas Sarkozy Indicted For "Criminal Association" In Libyan Funding Scandal.
• Sign Of The Top? Porn Star Pitches 'Trading Seminar' - "It's The Right Time To Get Into Stocks".
• Pelosi, Barrett, & The False Face Of Modern Feminism.
• The Catch-22 of Woke Racism... And Other Absurdities.
• Stock Options Traders Are Back At The Speculation
• Fall Enrollment Slides As Coronavirus Threatens Higher-Education Bubble.
• Time For A Real Change At The FBI.
• Taiwan Must Prepare To Deter Chinese Amphibious Landing: National Security Advisor O'Brien.
• "This Was A Kangaroo Court": LMU Students Impeach Latina Senator Over Conservative Views.
• Mexico's Former Defense Minister Arrested On Drug Trafficking Charges By DEA.
• In Stunning Reversal, Twitter No Longer Blocking NY Post Biden Article.
• Federal Court Rebukes D.C. Mayor's Double-Standard On Church Services And BLM Protests.
• Why Is The FBI's Top Child Porn Lawyer Involved In Hunter Biden Laptop Case? 
• Blatant Censorship: The Great YouTube Purge Accelerates.
• CNN Cancels Ice Cube Interview After Trump Adviser Reveals He's Working With Administration To Help Blacks.
• Why Are So Many Americans Suddenly Relocating, Buying Guns, & Storing-Up Huge Quantities Of Food?
• UK Downgraded To Aa3 By Moody's.
• FBI Investigating Whether Hunter Biden Emails, Photos Were Part Of "Russian Influence Operation"
• Foreigners Dump US Treasurys In August, China's Holdings Drop To Almost 4 Year Low.
• VIX & Stocks Rise On Week; Banks Puke Ahead Of Black Monday Anniversary. 

The Epoch Times:

• Hunter Biden Under Scrutiny for Business Deals With Chinese Exec With Links to Military.
• China Targets Cotton Industry in Latest Economic Strike on Australia.
• Beijing Views US Consulates as ‘Hostile Forces,’ Orders Monitoring of Diplomats: Leaked Documents.
  

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 3,507.03 +.78%

 

 

The Weekly Wrap by Briefing.com.  

Indices

• DJIA 28,715.90 +.62%

• NASDAQ 11,560.22 +4.3%

• Russell 2000 1,643.56 +.36%

• S&P 500 High Beta 44.04 -1.19%

• Goldman 50 Most Shorted 187.01 +.08%

• Wilshire 5000 35,938 +1.63%

• Russell 1000 Growth 2,288.28 +1.23%

• Russell 1000 Value 1,220.40 +.28%

• S&P 500 Consumer Staples 683.08 +1.19%

• MSCI Cyclicals-Defensives Spread 1,329.30 +1.14%
  

• NYSE Technology 3,290.93 +1.22%

• Transports 11,896.19 +.52%

• Utilities 886.03 +1.23%

• Bloomberg European Bank/Financial Services 46.93 -2.4%

• MSCI Emerging Markets 45.71 -.09%

• HFRX Equity Hedge 1,256.16 +.48%

• HFRX Equity Market Neutral 898.19 -.01%

Sentiment/Internals

• NYSE Cumulative A/D Line 423,459 -.07%

• Bloomberg New Highs-Lows Index 103 -377

• Crude Oil Commercial Bullish % Net Position -42.14 +1.22%

• CFTC Oil Net Speculative Position 471,536 +2.08%

• CFTC Oil Total Open Interest 2,111,762 +1.61%

• Total Put/Call .92 +11.9%

• OEX Put/Call 1.89 -7.57%

• ISE Sentiment 122.0 -14.0 points

• NYSE Arms .79 +37.50% 
• Bloomberg Global Risk-On/Risk-Off Index 240.0 -192.0 points
  

• Volatility(VIX) 26.4 -.15%

• S&P 500 Implied Correlation 44.60 +6.80%

• G7 Currency Volatility (VXY) 7.51 -1.18%
  

• Emerging Markets Currency Volatility (EM-VXY) 11.12 -2.37%

• Smart Money Flow Index 14,492.83 +1.07%

• ICI Money Mkt Mutual Fund Assets $4.363 Trillion -.43%

• ICI Domestic Equity Mutual Fund/ETFs Weekly Flows -$16.441 Million

• AAII % Bulls 34.8 +.1%

• AAII % Bears 35.8 -8.3%

Futures Spot Prices

• CRB Index 151.48 +.22%

• Crude Oil 40.81 +.94%

• Reformulated Gasoline 116.62 -3.23%

• Natural Gas 2.75 +1.41%

• Heating Oil 117.63 -1.12%

• Gold 1,906.20 -1.6%

• Bloomberg Base Metals Index 188.23 +.73%

• Copper 306.35 -.68%

• US No. 1 Heavy Melt Scrap Steel 287.0 USD/Metric Tonne +1.41%

• China Iron Ore Spot 116.98 USD/Metric Tonne +1.77%

• Lumber 537.80 -4.0%

• UBS-Bloomberg Agriculture 919.45 +.4%

Economy

• Atlanta Fed GDPNow Forecast +35.23% -.7 percentage point
  

• ECRI Weekly Leading Economic Index Growth Rate 3.6% +.1 percentage point
  
• Bloomberg US Recession Probability Next 12 Months 30.0% -5.0 percentage points

• NY Fed Real-Time Weekly Economic Index -3.91 +14.4%

• US Economic Policy Uncertainty Index 140.46 -65.8%

• S&P 500 Blended Forward 12 Months Mean EPS Estimate 158.32 +.5%

• Citi US Economic Surprise Index 134.2 -15.7 points

• Citi Eurozone Economic Surprise Index 31.50 -18.2 points

• Citi Emerging Markets Economic Surprise Index 43.0 -1.9 points

• Fed Fund Futures imply 100.0% chance of no change, 0.0% chance of rate hike on 11/5

• US Dollar Index 93.68 +.68%

• MSCI Emerging Markets Currency Index 1,650.55 -.29%

• Bitcoin/USD 11,375.08 +2.95%

• Euro/Yen Carry Return Index 127.96 -1.11%

• Yield Curve 59.25 -3.25 basis points
  

• 10-Year US Treasury Yield .74% -3.0 basis points

• Federal Reserve's Balance Sheet $7.111 Trillion +1.09%

• U.S. Sovereign Debt Credit Default Swap 16.30 -3.21%

• Illinois Municipal Debt Credit Default Swap 381.83 +.66%
  

• Italian/German 10Y Yld Spread 127.0 +2.0 basis points
  

• China Sovereign Debt Credit Default Swap 38.4 -.81%
  

• Brazil Sovereign Debt Credit Default Swap 219.65 +1.1%
  

• Israel Sovereign Debt Credit Default Swap 49.73 -1.47%

• South Korea Sovereign Debt Credit Default Swap 24.96 +6.63%

• Russia Sovereign Debt Credit Default Swap 97.40 -1.62%

• iBoxx Offshore RMB China Corporate High Yield Index 179.26 +.5%

• 10-Year TIPS Spread 1.72% -1.0 basis point

• TED Spread 12.5 -.25 basis point

• 2-Year Swap Spread 8.75 unch.
  

• 3-Month EUR/USD Cross-Currency Basis Swap -10.75 -1.0 basis point

• N. America Investment Grade Credit Default Swap Index 55.33 +3.36%
  

• America Energy Sector High-Yield Credit Default Swap Index 522.0 +1.48%

• European Financial Sector Credit Default Swap Index 72.12 +5.55%
  

• Emerging Markets Credit Default Swap Index 204.80 +2.86%
  

• MBS 5/10 Treasury Spread 82.5 -2.5 basis points
• Markit CMBX BBB-6 67.88 unch.

• M1 Money Supply $5.518 Trillion +.13%

• Commercial Paper Outstanding 962.40 -.2%

• 4-Week Moving Average of Jobless Claims 866,250 +.93%

• Continuing Claims Unemployment Rate 6.8% -70.0 basis points
  

• Average 30-Year Mortgage Rate 2.81% +6.0 basis points

• Weekly Mortgage Applications 798,900 -.72%

• Bloomberg Consumer Comfort 48.2 +.2 point

• Weekly Retail Sales +1.2% +30.0 basis points

• Nationwide Gas $2.18/gallon -.01/gallon

• Baltic Dry Index 1,561.0 -17.5%

• China (Export) Containerized Freight Index 1,053.80 +4.6%

• Oil Tanker Rate(Arabian Gulf to U.S. Gulf Coast) 17.5 unch.
• Truckstop.com Market Demand Index 100.75 -14.4%

• Rail Freight Carloads 286,488 +1.05%

Best Performing Style

• Mid-Cap Growth +1.4%

Worst Performing Style

• Mid-Cap Value unch.

Leading Sectors

• Paper +4.0%

• I-Banks +3.1%

• Internet +1.8%

• Software +1.8%

• Healthcare Providers +1.8%
  

Lagging Sectors

• Banks -1.7% 

• REITs -2.2%

• Airlines -2.5%

• Energy -2.9%

• Oil Service -3.0%

Weekly High-Volume Stock Gainers (16)

• PQG, DLTH, FUBO, ANAB, SXT, HGEN, COWN, WRK, IOVA, CHWY, ZM, ORA, ADSK, NFIN, FSLR and CAT
  

Weekly High-Volume Stock Losers (11)

• CMC, VFC, RDFN, CFG, XENT, FSLY, APO, DK, BCLI, SLB and NKLA
  

Weekly Charts

ETFs

• High-Volume Gainers

• High-Volume Losers

Stocks

• High-Volume Gainers

• High-Volume Losers

*5-Day Change

 

Stocks Higher into Afternoon on Stimulus Hopes, US Economic Data, Less European/Emerging Markets/US High-Yld Debt Angst, Healthcare/Financial Sector Strength

Broad Equity Market Tone:

• Advance/Decline Line: Modestly Higher
  

• Sector Performance: Mixed
  

• Volume:  Above Average

• Market Leading Stocks: Underperforming
  

Equity Investor Angst:

• Volatility(VIX) 26.4 -2.2%
• Bloomberg Global Risk On/Risk Off Index 240.0 +47.0 points

• Euro/Yen Carry Return Index 127.91 +.04%

• Emerging Markets Currency Volatility(VXY) 11.12 unch.

• S&P 500 Implied Correlation 44.5 -.29%

• ISE Sentiment Index 124.0 +12.0 points
  

• Total Put/Call .90 +18.4%

• NYSE Arms .76 +13.4

Credit Investor Angst:

• North American Investment Grade CDS Index 55.35 -2.02%
  

• US Energy High-Yield OAS 808.66 -.48%

• European Financial Sector CDS Index 71.74 -3.56%

• Italian/German 10Y Yld Spread 127.0 -4.0 basis points
  

• Asia Ex-Japan Investment Grade CDS Index 66.60 -.55%
  

• Emerging Market CDS Index 204.68 -1.74%
  

• iBoxx Offshore RMB China Corporate High Yield Index 179.26 +.03%

• 2-Year Swap Spread 8.75 -.5 basis point

• TED Spread 12.25 -1.75 basis point
  

• 3-Month EUR/USD Cross-Currency Basis Swap -9.25 +3.0 basis points
  
• MBS  5/10 Treasury Spread  82.25 -2.75 basis points
  
• IHS Markit CMBX BBB- 6 68.0 unch.

Economic Gauges:

• Bloomberg Emerging Markets Currency Index 59.34 +.19%
• 3-Month T-Bill Yield .09% -1.0 basis point

• Yield Curve 59.25 +2.0 basis points
  

• China Iron Ore Spot 117.0 USD/Metric Tonne +3.36%

• Citi US Economic Surprise Index 134.2 -4.6 points

• Citi Eurozone Economic Surprise Index 31.50 -2.3 points
  

• Citi Emerging Markets Economic Surprise Index 43.0 -1.7 points

• 10-Year TIPS Spread 1.71 +1.0 basis point
• 100.0% chance of no change at Dec. 16th meeting, 100.0% chance of no change at Jan. 27th meeting

Overseas Futures:

• Nikkei 225 Futures: Indicating +135 open in Japan 
• China A50 Futures: Indicating +25 open in China

• DAX Futures: Indicating +3 open in Germany

Portfolio:

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

• Disclosed Trades: None
  

• Market Exposure: 50% Net Long

Bear Radar

Style Underperformer:

• Mid-Cap Value +.1%

Sector Underperformers:

• 1) Oil Service -2.7% 2) Energy -1.5% 3) Shipping -.6%

Stocks Falling on Unusual Volume: 

• LMND, EOG, GRA, SMPL, PTON, RDFN, PLUG, SNBR, RAVN, XENT, VFC, CFG, DK, TWST, GME, FSLY, APO, HIBB, MRTN, VIVO, SLB, JBHT, PLCE, LMPX, FTHM and NKLA
  

Stocks With Unusual Put Option Activity:

• 1) HTZ 2) MYL 3) AR 4) UAA 5) SAVE
  

Stocks With Most Negative News Mentions:

• 1) NKLA 2) NGL 3) WPX 4) FSLY 5) CMC
  

Charts:

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

Bull Radar

Style Outperformer:

• Large-Cap Value +.4%

Sector Outperformers:

• 1) Utilities +1.4% 2) Pharma +1.0% 3) Biotech +1.0%

Stocks Rising on Unusual Volume:

• CIT, NAV, PQG, ANAB, HGEN, FUBO, DLTH, SPCE, NLTX, NFIN, IOVA, COWN, NLTX, IPOC, CHWY, TDC and VRTX
  

Stocks With Unusual Call Option Activity:

• 1) FLEX 2) HTZ 3) CYH 4) VFC 5) TACO

Stocks With Most Positive News Mentions:

• 1) NKLA 2) FSLY 3) WPX 4) WYNN 5) NGL
  

Charts:

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