- U.K. Steps Up Talks With Industry as Brexit Disruption Closes In.
- U.K. Real Estate Agents See Property Market Weakening in 2021.
- Trump’s National Security Advisor Warns China on Hong Kong.
- Stock Rally Fizzles After Recent Charge Higher: Markets Wrap.
- Oil Extends Gains on Signs OPEC+ Edging Toward Keeping Cuts.
- Moderna Vaccine Trial Reaches Key Goal to Gauge Shot’s Merit.
- Richest New Yorkers Will Devastate City If They Leave With $133 Billion.
- Growth-Stock Scare Looking Like a False Alarm to Options Market.
- OPEC Deepens Forecast for Drop in Global Oil Demand.
- Trump Suits Aim to Block Certification in Key States.
- Smaller House Majority Poses Headaches for Democrats.
- N.Y. Sets Curfew for Restaurants, Bars, Gyms as Covid-19 Cases Rise.
- Biden Covid advisor says U.S. lockdown of 4 to 6 weeks could control pandemic and revive economy.
- The market is ‘being very cavalier’ about risks the U.S. faces, Jim Cramer says.
- U.S. prepares for worst four months of the pandemic as it stares down the ‘darkest’ days yet.
- Pfizer CEO sold $5.6 million of stock as company announced vaccine data that sent shares soaring.
- Stocks making the biggest moves after hours: Moderna, Revolve, Fossil & more.
- Goldman Spots An “Early Indicator” US Economy Is Rolling Over Due To Covid Resurgence
- JPMorgan Finds No Benefits From COVID Lockdowns.
- Deutsche Bank Proposes A 5% “Work From Home” Privilege Tax.
- Once “Immune” To The Pandemic, The Financial Industry Is About To Face A Wave Of Layoffs.
- Georgia Announces Hand Recount As Razor-Thin Margins Persist.
- Professor Declares “Legal Vote” A Racist Term Like “Handouts” & “Personal Responsibility”.
- Toobin Fired From New Yorker For Jerking Off During Zoom Call.
- Martin Armstrong Warns Cashless World Signals Global End To Privacy.
- 17 People Were Shot In Chicago On Monday Alone.
- With Bonds Away, Tech Bulls Will Play.
- Ga. Democrat Senate hopeful Warnock voiced praise for controversial preacher.
- Evidence of alleged voter fraud appears in Mich., Pa.
- DOMINION Voting Systems. (video). “This image-cast evolution voting machine has the physical ability to mark votes onto the ballot after the last time the voter sees the ballot… and that’s a DISASTER. ” Princeton comp. science prof Andrew Appel shreds Dominion voting systems. America was warned.
- Asian equity indices are -.25% to +.5% on average.
- Asia Ex-Japan Investment Grade CDS Index 57.5 -.75 basis point.
- China Sovereign CDS 27.75 -1.0 basis point.
- Bloomberg Emerging Markets Currency Index 60.79 unch.
- Bloomberg Global Risk-On/Risk Off Index 1,193.0 -13.0 points.
- Volatility Index(VIX) futures 25.08 +.42%
- FTSE 100 futures -.60%.
- S&P 500 futures -.01%.
- NASDAQ 100 futures -.09%.
Morning Preview Links
Earnings of Note
- The CPI MoM for Oct. is estimated to rise +.1% versus a +.2% gain in Sept.
- The CPI Ex Food and Energy MoM for Oct. is estimated to rise +.2% versus a +.2% gain in Sept.
- Real Avg. Weekly Earnings YoY for Oct.
- Initial Jobless Claims for last week are estimated to fall to 734K versus 751K the prior week.
- Continuing Claims are estimated to fall to 6900K versus 7285K prior.
- Monthly Budget Deficit for Oct. is estimated to widen to -$275.0B versus -$124.6B prior.
- None of note
- The Eurozone PMI report, UK GDP report, German inflation data, 30Y T-Bond auction, weekly Bloomberg Consumer Comfort Index, Berenberg Conference, (QDEL) investor day, (DPZ) Investor Q&A and the JPMorgan Consumer/Retail Conference could also impact trading today.
- 9:30 am – 4:00 pm EST
BOTTOM LINE: Asian indices are mostly higher, boosted by technology and consumer shares in the region. I expect US stocks to open mixed and to weaken into the afternoon, finishing modestly lower. The Portfolio is 50% net long heading into the day.
SOURCE: BETWEEN THE HEDGES – Read entire story here.