Happy Fibonacci Day .. The "Fibonacci Sequence" is important to math nerds and it's derived by adding the prior two numbers together to get the next one in the sequence. 0,1,1,2,3,5,8,13,21...etc.. So, I guess there are TWO Fibonacci days because technically 01/12 is part of the sequence... Anyways.. its an important math thing.. that its too early to think about.....
In France, Former French President Nicolas Sarkozy is going on trial on charges of corruption and influence-peddling in a phone-tapping scandal. The Trump haters are frothing at the mouth just waiting for THEIR chance to start the lawsuit conga-line.. Ill bet he has a dozen within the first week he is a civilian, again..
Let's Talk Shootings !!! It's pretty sad that we have lots of choices .. In NY, a teenager went into an apartment building in Bed-Stuy and shot a whole mess of people. One woman dead, a 14 year old girl was shot in the chest and a 16 year old boy is in critical condition. Police say this was connected to an earlier shooting at a sweet 16 party earlier in the day .. but NOT related to the drive-by shooting later that night in Brownsville. Got all that? No COVID restrictions in NY, I guess.... and..
In Wisconsin, police arrested a 15 year old boy in the "Mall Shooting" there. Eight people were shot in that incident which was an argument between two groups where four of the victims were "innocent mall shoppers" .. and..
Don't have Sunday numbers from the Shooting Gallery known as Chicago. But, they have 101 shootings this month which brings them to 3836 shot for the year and 714 total homicides for 2020. Just for comparison, the number of US Active military killed in 2020 is 93 .. and..
I don't continue to point these shootings, murders, arson, looting, and other crimes because I think there is anything funny about them. Quite the contrary, they go largely ignored and they shouldn't. The story hits the headlines and is gone in a day.. but the story doesn't "Go away" for those that were shot .. or those that live in that neighborhood. The Loser Media runs Covid Story after Covid story.. and YES .. that IS important .. But, Covid will go away soon.. The THOUSANDS of shootings in these big cities will NOT go away with a vaccine...
In Da Swamp: Lawsuits continue .. Hypocrites abound .. and I'm tired of reporting on the Swamp... The politicians and media are all self-important pimps or hypocritical windbags.. There is little talk of the "important" things.. like..
Stimulus checks for those Americans that have no job and whose unemployment payments are running out.. Cut some deal .. ANY deal .. to get them some cash through Spring 2021. Then, we try to get them jobs and grow the economy and pay off some of our RIDICULOUS debt level.. .. Why Spring 2021, Raj?? well...
Because that's when there will be enough combined, "herd immunity" and vaccinations. .. The expectation is that we'll be at 70% (now, many will avoid vaccination .. and it doesn't mean NO one will get Covid after April/May).. What is DOES mean is we go "back to some semblance of normal" and can have full restaurants, gyms, stores, etc with masks and social distancing in some "hot spot" areas.. (Go ahead.. write it in your calendar. Raj said by Tax Day 2021 we are either OPEN.. or REAL close... ).. and..
One interesting development, Qantas Airlines announced it will make COVID-19 vaccination MANDATORY for all international passengers on their flights. They predict all major carriers will follow suit. .. Hmmm... Will they? Will "anti-vaxxers" have to walk everywhere? How will they tell? Are they gonna blood test all passengers or rely on a "note from mom" ??? ..and..
The rumor mill swirls that Biden will immediately start "RE-Swamping" the Swamp. The reports say he will select, "Russian Collusion Hoax" pusher and CNN man Antony Blinken as Secretary of State .....and long time diplomat Linda Thomas-Greenfield as ambassador to the U.N. .. You watch.. we'll be RIGHT BACK to writing Giant checks to "World Organizations" that other nations don't pay for...
The Georgia Senate race is in full, ugly, swing with politicians from around the Country descending on the Peach state to win those seats. ..and the MONEY.. ohh. the MONEY .. We're at $200 million and counting....
In the Loeffler/Warnock race, incumbent Kelly Loeffler was isolating this weekend after a "quick test" showed her positive. Two other "regular" tests have shown negative. Not sure what "proper protocol" there is.. do you isolate for a few days and take more tests to prove the one was a false positive? Do you isolate for a week? Do you drop back 12 yards and punt?
If Lorne Michaels or anyone from SNL is reading.. I have your guy to play Dem. Senate Candidate Warnock. .HERE.. .. Is there any better choice than JB Smoove .. HERE..?? ..If you pick him I will actually stay up and watch for the first time in a decade !! ..
GOLF: Robert Streb beats Kevin Kisner with a birdie on the second playoff hole to win the RSM Classic. Some of the pros now head to Mexico for the Mayakoba and some head to Scotland for the Dunhill.. Then on Dec 11 you have the DP World Championships from Dubai...
NFL: Drew Brees underwent and MRI and they found that his 6 broken ribs and collapsed lung were actually ELEVEN broken ribs. He is feeling better but there is no "therapy" for broken ribs. You just have to chill... and..
Rookie sensation and franchise QB Joe Burrow is out for the year after his knee went the wrong way yesterday. Sad, the Bengals record is no good but he was KILLING it.. The video is kinda gruesome so I'm not linking to it.. go look it up yourself .. and..
Dallas Rookie CeeDee Lamb had the catch of the week as Andy Dalton threw a "back shoulder fade" over the wrong shoulder and Lamb reversed in mid-air and still caught it..I'm a Giants fans so I HATE the Cowboys.. but that catch was SICK!!!..
Steelers win and move to 9-0 .. Jets lose and move to 0-10 and veteran RB Frank Gore was asked about the possibility of going 0-16 and he said, "I ain't goin out like that" .. It ain't your fault dude.. but its looking likely..
Tampa Bay/LA Rams tonight.. should be a good game ...
Paulina Gretzky has had ENOUGH of her husband winning the Masters and getting all the attention in the news and on social media. What could get the attention back on her? Why, take off her clothes, of course !!! ..HERE.. They're on vacation somewhere warm, I guess.. and she'd better be careful she doesn't get splinters!!!..
The snowflake cancel freaks are after Monty Python legend John Cleese. Cleese voiced his support for JK Rowling (She is under fire from the snowflake community for having the audacity to say that "Sex exists") .. Cleese continues to defend free speech because saying somewhat offensive things is the only way comedy exists. Keep on, John.. and that parrot is just resting.. Beautiful Plumage.. ..and..
Actress Hillary Duff is isolating after being exposed to a person on a TV show set that has COVID. Hilary is pregnant so she is quite concerned .. HERE .. Hopefully, she is ok
Of course Hilary Duff is famous for the Lizzie McGuire movie and many others.. and even MORE FAMOUSER for her "Engagement Photos" .. When her first husband, "popped the question" photographers (i.e. paparazzi) caught a glimpse... HERE.. ..she was VERY excited.. ...HERE...actually.. SO EXCITED she dropped her ring!!!! I guess it got stuck in Mike's shirt .. or maybe his pocket.... HERE.. .. She is quite the detective because she found it within 5 minutes.... Good for you, Hilary !!!
The tug of war between cyclicals and tech stocks will likely continue for the next few weeks as traders weigh growing vaccine optimism against rising coronavirus cases and lockdown measures. The last few Mondays have seen outsized gains given strong vaccine results from Pfizer (PFE) and Moderna (MRNA), while AstraZeneca (NASDAQ:AZN) and the University of Oxford became the latest to report an interim analysis of their clinical trials overnight (see below). Cyclicals will likely start today's session with a leg up given the news as Dow futures rose 0.7% vs. the 0.4% advance of the Nasdaq. Predictions are also growing that the Fed will unveil more monetary action when it meets in December after the central bank said it will comply with a Treasury request to return unused funds meant to backstop five emergency lending programs.
One regimen, given to some 2,700 people, showed an effectiveness of 90% when trial participants received a half dose, followed by a full dose at least one month apart. The other dosing regimen, given to nearly 9,000 people, showed 62% efficacy when given as two full doses at least one month apart. The combined analysis from both dosing regimens found average vaccine effectiveness of 70%. Despite a lower average efficacy rate than its rivals, the British shot has some distribution advantages. While vaccines from Pfizer (PFE) and Moderna (MRNA) have to be stored frozen, the Astra-Oxford (AZN) shot can be kept at refrigerator temperature and comes at a potentially lower cost.
At this weekend's summit in Riyadh, G20 leaders pledged to ensure fair distribution of COVID-19 vaccines, drugs and tests around the world so that poorer countries were not left out of a post-coronavirus recovery. "We will spare no effort to ensure their affordable and equitable access for all people," read the communique. "We recognize the role of extensive immunization as a global public good." One of the questions still out there is what role America will play in the process. So far the U.S. hasn't joined COVAX, which is the WHO's flagship vaccine distribution plan.
"On the 11th or on the 12th of December, hopefully the first people will be immunized across the U.S., across all states, in all the areas where the state departments of health will have told us where to deliver the vaccines," Moncef Slaoui, head of the government's Operation Warp Speed, told CNN's State of the Union. Current plans forecast another milestone around May: a 70% immunization rate across the U.S., which "would allow for true herd immunity to take place." Pfizer (NYSE:PFE) and BioNTech (NASDAQ:BNTX) have already requested emergency use authorization for their product, while Moderna (NASDAQ:MRNA) will finish its application by the end of the month. Even if (or when) approved, there is uncertainty over whether the general public will trust the jab enough to take it. According to a Pew Research Center report in September, only about half of U.S. adults say they would get a COVID-19 vaccine.
A COVID-19 antibody cocktail from Regeneron Pharmaceuticals (NASDAQ:REGN), including casirivimab and imdevimab, has received Emergency Use Authorization from the FDA to treat patients who are not hospitalized but are at high risk of developing the disease. The cocktail was one of three pharmaceutical treatments given to President Trump for treatment of COVID-19 in October. It's the second antibody drug cleared this month for emergency authorization to use in a similar set of COVID-19 patients after Eli Lilly's (NYSE:LLY) bamlanivimab previously had won approval. Previous drugs cleared for COVID-19 use, such as Gilead's (NASDAQ:GILD) remdesivir, were only authorized for hospitalized patients. REGN +4.9% premarket.
"We see some vulnerability in equity markets in the near term from balanced mutual funds, a $7T universe, having to sell around $160B of equities globally to revert to their target 60:40 allocation either by the end of November or by the end of December at the latest,” according to JPMorgan Chase. "If the stock market rallies into December, there could be an additional $150B of equity selling into the end of the month by pension funds that tend to rebalance on a quarterly basis," added strategists led by Nikolaos Panigirtzoglou. For the retail investor, is the 60/40 portfolio still the way to go? Recent contributors on Seeking Alpha have suggested otherwise based on pricing and real returns. See articles by Jussi Askola and KCI Research.
Guitar Center, owned by private equity firm Ares Management (NYSE:ARES), has filed for Chapter 11 bankruptcy as the coronavirus pandemic moved shopping online and weighed on purchases of new music gear. The company, which has nearly 300 stores across the U.S., as well as subsidiaries including Music & Arts, has negotiated to have $375M in debtor-in-possession financing from its existing lenders and intends to raise $335M in new senior secured notes. Guitar Center will continue to stay in business during the bankruptcy process, but it could miss another major shopping period due to weaker consumer spending this holiday season.
Economic activity across the eurozone plunged in November after members of the bloc introduced new lockdowns and social restrictions to contain the spread of coronavirus. The flash eurozone PMI composite output index, which tracks both manufacturing and services sectors, came in at 45.1, marking the lowest reading in six months. Meanwhile, the ECB said it will continue its pandemic emergency purchase program as long as COVID-19 persists and continues to disrupt regular economic activity. Things aren't looking brighter. Germany is looking to extend its current lockdown into December as the number of coronavirus infections remains high across the country.
The Trump administration is close to issuing a list of 89 Chinese aerospace and other companies that would be unable to access U.S. technology exports due to their military ties, according to Reuters. That would restrict companies like Commercial Aircraft Corp of China, which is looking to compete with Boeing (NYSE:BA) and Airbus (OTCPK:EADSY), as well as Aviation Industry Corporation of China. The list, if published, could further escalate trade tensions and comes just ten days after President Trump unveiled an executive order prohibiting U.S. investments in Chinese companies that Washington said are owned or controlled by the Chinese military. Go Deeper: GE, Honeywell among those that have supply deals with COMAC and AVIC.
What else is happening...
Nevada cuts capacity limit for casinos and entertainment. Zucker expected to leave CNN (NYSE:T) in early 2021 - Vanity Fair. Retail rotation faces reversal with COVID Black Friday. Can the SPAC-tacular returns in the EV space ride on? Drilling rig operator Noble Corp. (NYSE:NE) to exit Chapter 11. Europe likely to lift Boeing (BA) 737 MAX grounding in January.
In Asia, Japan closed. Hong Kong +0.1%. China +1.1%. India +0.4%. In Europe, at midday, London +0.3%. Paris +0.6%. Frankfurt +0.8%. Futures at 6:20, Dow +0.7%. S&P +0.6%. Nasdaq +0.4%. Crude +1.4% to $43.01. Gold -0.4% at $1865.70. Bitcoin +3.1% to $18693. Ten-year Treasury Yield +2 bps to 0.85%
Today's Economic Calendar
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