Today's Headlines

Bloomberg:              

• Johnson and EU Set Sights on Deal as Talks Enter Final Phase.
• Tories Focus on U.K. Recovery Amid Criticism of Covid Response.
• Updates on Coronavirus Cases Around the World.
• New York Surges; Trump Says He’s Feeling Better: Virus Update.
• Trump’s Hospital Admission Jolts White House and Election Campaign.  
• Trump Doing ‘Very Well’ in Hospital, Doctor Says: Trump Update.
• Trump Treatment Thrusts Regeneron Virus Drug to Center Stage.  
• McConnell Says Barrett Confirmation to Continue on Schedule.    
• Trump Presses for Stimulus Deal, Saying ‘Get It Done’.
• Escalating Chaos Again Proves Incapable of Derailing the S&P 500.
• ‘Crazy Fast’ Vaccine Race Has Drug Companies Pushing Their Limits.
• Hedge Funds Skeptical of SEC Plan to Let Firms Conceal Stocks.  
• A 32-Year-Old Trader Is Driving 21,000 Amateur Stock Investors.

Wall Street Journal:

• Covid-19 Left U.K.’s Boris Johnson and Brazil’s Jair Bolsonaro Unscathed Politically
• Uber Adapts to Covid and ‘Laborism’.
• It’s No Surprise When Someone Gets Covid.
• Trump’s Positive Covid Test.
• Trump Received Experimental Antibody and Remdesivir.
• Patriots’ Star Cam Newton Tests Positive as NFL’s Virus Crisis Widens.
• Covid Sparks New East-West Divide in Germany.
• Debate Looms on Supreme Court Expansion.
• Coronavirus Upended Advertising. Here’s How Brands From Progressive Insurance to Budweiser Responded.
• Electric-Car Makers Take Different Routes Toward Batteries.

CNBC:

• Trump coronavirus diagnosis changes dynamic of stimulus talks, Pelosi says.
• ‘Massively concerning’ jobs report sends a signal that the economic recovery could be fading.
• Here’s where the jobs are — in one chart.
• The fighting between Armenia and Azerbaijan, explained.

IG:

• Weekend Markets Trading Live.

Barron's:

• Had bullish commentary on (TTWO), (EA), (CWH), (TEX), (SQM), (ALB), (LTHM) and (ATVI).

MarketWatch.com:   

• Professional investors have their eye on these eight stocks as the used-car market in the U.S. moves online.
  
• When is the Mike Pence–Kamala Harris debate?

Fox News:

• Trump 'doing very well' with no difficulty breathing, medical team says. Full coverage on Fox News.
• SEE IT: President Trump gives video update on COVID fight, touts 'miracle' therapeutics he's taking.
• Republicans rip Dems trying to use COVID to delay ACB confirmation.
• Joe Concha slams media reaction to Trump getting coronavirus.
  

Zero Hedge:

• Trump "Doing Very Well", Is "Fever-Free" And "Improving", Doctors Say.
• McConnell Announces Senate Floor Activity Postponed Until October 19; SCOTUS Confirmation Hearings To Proceed As Scheduled.
• Michigan Supreme Court Strikes Down Gov. Whitmer's Nanny-State Edicts.
• Patriots QB Cam Newton Tests Positive; India Becomes 3rd Country To Top 100k COVID-19 Deaths: Live Updates.
• "Sounds So Hot And So Fun!" - Sen. Thom Tillis's Democratic Rival Admits To Sexting With Veteran's Wife.
• "Space Bubbles" Line The Street At This NYC Restaurant .
• Free Speech Crisis On Campus: 60% Of Students Keep Quiet Due To Fear How Others Would Respond.
• "Skinny" Or "Supersized": What Happens To The Treasury Market When The Next Stimulus Bill Passes.
• Cruise Industry Bust Sparks Global 'Ship-Breaking' Boom.
• JPMorgan: "A Trump Win Would Constitute A Big Surprise For Markets".
• McConnell Announces Senate Floor Activity Postponed Until October 19; SCOTUS Confirmation Hearings To Proceed As Scheduled.
• 71 Year Old Former Wall Street Trader Gets 5 Years In Prison For $20 Million Ponzi Scheme.
• Mapping COVID-19's Crushing Impact On International Tourism.
• San Francisco Rents Crash Most On Record Amid Mass Exodus.
• Biden - A Catalyst To Accelerate US Decline?
• GM Deliveries Plunge 10% Year Over Year In Q3.
• Medical Journal Calls For Mandatory COVID Vaccine: "Non-Compliance Should Incur A Penalty".
• Trump Heads To Walter Reed Military Hospital As "Precautionary Measure".
• DoJ, FBI Prepare For Election Night Violence, Voting Disruptions.
• Do You Enjoy Beethoven? Then You Must Hate Women, Minorities, The Poor,...
• Six Months After The Pandemic Started: Manhattan Offices Are Only 10% Full.
• College Free Speech Crisis: "I Agree With You, But I Could Never Say It Publicly".
• "Out Of Control" Super-Pig Population Is Spreading Rapidly Across US .
• A Swarm Of Nearly 600 Earthquakes Rattles Southern California Sparking Speculation About "The Big One" Again.
• NY Suffers Another 1,500+ New COVID-19 Cases As Cuomo Threatens To Fine "Non-Compliant" Communities: Live Updates.
• US Intelligence "Monitoring" Foreign Adversaries For Signs They'll Exploit President's Illness.
• Millennials Say They're Even Less Likely To Have Kids Now Thanks To COVID-19.
• Tech Turmoils After 'Positive' POTUS, Jobs Jolts, And SoftBank Squeeze.
  

The Epoch Times:

• Chinese State Media Editor Mocks Trump Over Virus Diagnosis.

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 3,361.92 +1.93%

 

 

The Weekly Wrap by Briefing.com.  

Indices

• DJIA 27,786.43 +2.35%

• NASDAQ 11,124.30 +1.81%

• Russell 2000 1,538.69 +4.3%

• S&P 500 High Beta 42.28 +3.6%

• Goldman 50 Most Shorted 176.25 +4.2%

• Wilshire 5000 34,370.95 +2.32%

• Russell 1000 Growth 2,172.69 +1.8%

• Russell 1000 Value 1,178.07 +2.48%

• S&P 500 Consumer Staples 660.50 +2.01%

• MSCI Cyclicals-Defensives Spread 1,309.21 +1.38%
  

• NYSE Technology 3,096.80 +2.16%

• Transports 11,307.57 +.41%

• Utilities 835.08 +3.38%

• Bloomberg European Bank/Financial Services 45.88 +4.44%

• MSCI Emerging Markets 43.96 +2.1%

• HFRX Equity Hedge 1,236.82 +.54%

• HFRX Equity Market Neutral 889.12 -.01%

Sentiment/Internals

• NYSE Cumulative A/D Line 417,799 +1.23%

• Bloomberg New Highs-Lows Index 186 +433

• Crude Oil Commercial Bullish % Net Position -44.1 -6.7%

• CFTC Oil Net Speculative Position 472,769 +5.1%

• CFTC Oil Total Open Interest 2,028,620 -3.81%

• Total Put/Call .82 -6.9%

• OEX Put/Call 1.40 -4.09%

• ISE Sentiment 112.0 +15.0 points

• NYSE Arms .58 -35.3% 
• Bloomberg Global Risk-On/Risk-Off Index -35.0 -77.0 points
  

• Volatility(VIX) 27.5 +4.62%

• S&P 500 Implied Correlation 55.31 -3.25%

• G7 Currency Volatility (VXY) 8.08 -8.5%
  

• Emerging Markets Currency Volatility (EM-VXY) 11.62 -4.28%

• Smart Money Flow Index 14,519.20 +.37%

• ICI Money Mkt Mutual Fund Assets $4.404 Trillion -.23%

• ICI Domestic Equity Mutual Fund/ETFs Weekly Flows -$17.277 Million

• AAII % Bulls 26.2 +5.4%

• AAII % Bears 43.1 -6.4%

Futures Spot Prices

• CRB Index 144.55 -2.39%

• Crude Oil 37.24 -6.22%

• Reformulated Gasoline 112.44 -5.44%

• Natural Gas 2.52 +17.7%

• Heating Oil 108.71 -3.1%

• Gold 1,905.20 +3.06%

• Bloomberg Base Metals Index 178.01 -1.23%

• Copper 297.80 -.07%

• US No. 1 Heavy Melt Scrap Steel 292.0 USD/Metric Tonne -1.02%

• China Iron Ore Spot 116.26 USD/Metric Tonne +4.56%

• Lumber 603.0 +.69%

• UBS-Bloomberg Agriculture 888.25 +1.77%

Economy

• Atlanta Fed GDPNow Forecast +34.60% +2.6 percentage points
  

• ECRI Weekly Leading Economic Index Growth Rate 3.5% +.5 percentage point
  
• Bloomberg US Recession Probability Next 12 Months 100.0% unch.

• NY Fed Real-Time Weekly Economic Index -4.62 +6.67%

• US Economic Policy Uncertainty Index 291.17 +119.85%

• S&P 500 Blended Forward 12 Months Mean EPS Estimate 156.96 +.69%

• Citi US Economic Surprise Index 164.2 -6.2 points

• Citi Eurozone Economic Surprise Index 41.2 -6.6 points

• Citi Emerging Markets Economic Surprise Index 50.0 -.5 point

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

• US Dollar Index 93.81 -.82%

• MSCI Emerging Markets Currency Index 1,635.79 +.48%

• Bitcoin/USD 10,564.50 -1.67%

• Euro/Yen Carry Return Index 127.96 +.52%

• Yield Curve 54.5 +.5 basis point
  

• 10-Year US Treasury Yield .70% +4.0 basis points

• Federal Reserve's Balance Sheet $7.015 Trillion -.54%

• U.S. Sovereign Debt Credit Default Swap 17.95 -.33%

• Illinois Municipal Debt Credit Default Swap 378.21 +14.69%
  

• Italian/German 10Y Yld Spread 132.0 -10.0 basis points
  

• China Sovereign Debt Credit Default Swap 47.75 -5.94%
  

• Brazil Sovereign Debt Credit Default Swap 246.58 -1.08%
  

• Israel Sovereign Debt Credit Default Swap 54.75 -5.22%

• South Korea Sovereign Debt Credit Default Swap 26..66 -2.49%

• Russia Sovereign Debt Credit Default Swap 123.72 -5.38%

• iBoxx Offshore RMB China Corporate High Yield Index 178.0 -.17%

• 10-Year TIPS Spread 1.65% +7.0 basis points

• TED Spread 14.5 +.25 basis point

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

• 3-Month EUR/USD Cross-Currency Basis Swap -11.0 -6.5 basis points

• N. America Investment Grade Credit Default Swap Index 58.68 -.13%
  

• America Energy Sector High-Yield Credit Default Swap Index 525.0 +3.38%

• European Financial Sector Credit Default Swap Index 76.53 -6.82%
  

• Emerging Markets Credit Default Swap Index 227.01 -5.52%
  

• MBS 5/10 Treasury Spread 90.5 -4.25 basis points
• Markit CMBX BBB-6 66.75 +.85%

• M1 Money Supply $5.577 Trillion +.05%

• Commercial Paper Outstanding 945.30 -4.1%

• 4-Week Moving Average of Jobless Claims 867,250 -1.34%

• Continuing Claims Unemployment Rate 8.1% -50.0 basis points
  

• Average 30-Year Mortgage Rate 2.88% -2.0 basis points

• Weekly Mortgage Applications 769.60 -4.81%

• Bloomberg Consumer Comfort 49.3 -.5 point

• Weekly Retail Sales +.6% +50.0 basis points

• Nationwide Gas $2.19/gallon +.01/gallon

• Baltic Dry Index 1,869.0 +12.12%

• China (Export) Containerized Freight Index 1,007.44 +2.23%

• Oil Tanker Rate(Arabian Gulf to U.S. Gulf Coast) 17.5 unch.
• Truckstop.com Market Demand Index 108.41 +3.9%

• Rail Freight Carloads 294,144 -.38%

Best Performing Style

• Small-Cap Value +4.1%

Worst Performing Style

• Large-Cap Value +1.8%

Leading Sectors

• Alt Energy +12.5%

• Homebuilding +7.5%

• I-Banking +4.3%

• Retail +3.9%

• Shipping +3.8%
  

Lagging Sectors

• Papers -1.3% 

• Oil Service -1.4%

• Airlines -1.7%

• Education -2.8%

• Energy -4.5%

Weekly High-Volume Stock Gainers (16)

• CFFN, TWLO, NUS, PACB, BBBY, RNST, LAD, AVNT, IVZ, GBX, ACM, DNLI, AVYA, JACK, MWA and AMG
  

Weekly High-Volume Stock Losers (1)

• IONS
  

Weekly Charts

ETFs

• High-Volume Gainers

• High-Volume Losers

Stocks

• High-Volume Gainers

• High-Volume Losers

*5-Day Change

Stocks Falling into Afternoon on Global Virus Worries, Rising Biden Presidency Odds, Oil Decline, Tech/Biotech Sector Weakness

 Broad Equity Market Tone:

• Advance/Decline Line: Lower
  

• Sector Performance: Mixed
  

• Volume: Below Average

• Market Leading Stocks: Outperforming
  

Equity Investor Angst:

• Volatility(VIX) 27.75 +3.86%
• Bloomberg Global Risk On/Risk Off Index 11.0 -101.0 points

• Euro/Yen Carry Return Index 127.91 -.40%

• Emerging Markets Currency Volatility(VXY) 11.62 -.09%

• S&P 500 Implied Correlation 55.49 -.61%

• ISE Sentiment Index 114.0 -11.0 points
  

• Total Put/Call .82 +5.1%

• NYSE Arms .68 -56.1%

Credit Investor Angst:

• North American Investment Grade CDS Index 58.48 -.16%
  

• US Energy High-Yield OAS 881.79 +.88%

• European Financial Sector CDS Index 76.70 -1.19%

• Italian/German 10Y Yld Spread 132.0 -4.0 basis points
  

• Asia Ex-Japan Investment Grade CDS Index 75.36 +.34%
  

• Emerging Market CDS Index 227.61 +1.48%
  

• iBoxx Offshore RMB China Corporate High Yield Index 177.96 +.02%

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

• TED Spread 14.5 unch.
  

• 3-Month EUR/USD Cross-Currency Basis Swap -11.0 +.75 basis point
  
• MBS  5/10 Treasury Spread  90.5 -1.5 basis points
  
• IHS Markit CMBX BBB- 6 66.75 unch.

Economic Gauges:

• Bloomberg Emerging Markets Currency Index 59.30 -.29%
• 3-Month T-Bill Yield .09% +1.0 basis point

• Yield Curve 54.5 -1.75 basis points
  

• China Iron Ore Spot 116.26 USD/Metric Tonne -.53%

• Citi US Economic Surprise Index 164.2 -3.7 points

• Citi Eurozone Economic Surprise Index 41.20 -8.4 points

• Citi Emerging Markets Economic Surprise Index 50.0 -.6 point

• 10-Year TIPS Spread 1.65 +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 +175 open in Japan 
• China A50 Futures: Indicating +27 open in China

• DAX Futures: Indicating +13 open in Germany

Portfolio:

• Slightly Lower: On losses in my tech/biotech sector longs
  

• Disclosed Trades: None
  

• Market Exposure: 50% Net Long

 

Bear Radar

Style Underperformer:

• Large-Cap Growth -1.6%

Sector Underperformers:

• 1) Semis -2.0% 2) Video Gaming -1.8% 3) Software -1.7%

Stocks Falling on Unusual Volume: 

• ALXN, IONS, SDC, FATE, ATVI, CHWY, SLP, EXPI, DPHC, TSLA, CVNA, EVBG, DXCM, SSD, OSTK, XNCR and BE
  

Stocks With Unusual Put Option Activity:

• 1) WMB 2) TWLO 3) IYR 4) KRE 5) XBI
  

Stocks With Most Negative News Mentions:

• 1) DXCM 2) WTTR 3) AMZN 4) LBTYA  5) TWTR
  

Charts:

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

 

Bull Radar

Style Outperformer:

• Small-Cap Value +1.3%

Sector Outperformers:

• 1) Oil Service +3.7% 2) Steel +2.7% 3) Banks +2.1%

Stocks Rising on Unusual Volume:

• CFFN, TWLO, NUS, RNST, BBBY, PACB, LAD, IVZ, ACM, NOVA and AVYA
  

Stocks With Unusual Call Option Activity:

• 1) CLNY 2) TWLO 3) LEVI 4) PACB 5) EDIT

Stocks With Most Positive News Mentions:

• 1) TWLO 2) BBBY 3) NUS 4) ARA 5) PACB

Charts:

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