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December 4 – 9 2021 FEAR NOT Brave Investors Where have we been and where are we going? Join our weekly market thread on Traders Community… Omicron, F
[See the full post at: Traders Market Weekly: When The Rubber Meets The Road]RIP BOB DOLE @ age 98 …you served nation well 🙂
https://www.cnn.com/2021/12/05/politics/bob-dole-dies/index.htmlLooking back at a volatile week with TradersCommunity. Friday closed with the US jobs report and heavy market selling. Join Andrew, Alex and Mahdavi in a candid discussion of the markets, fundamentally and technically within their trading plans.
Premarket Alex and Andrew go through the key stocks gapping up on news and events as they get set for a day’s trading
Andrew & Alex around 13:30 NY time, discussing a POTENTIAL for a double bottom on a lot of stocks & indices. A good example of scanning stocks, identifying potential patterns, and planning for contingencies.
S&P Futures vs Fair Value: +1
10 yr Note: 1.39%
USD/JPY: 113.15 +0.35
EUR/USD: 1.1306 -0.0005
Europe: FTSE +0.7% DAX +0.2% CAC +0.3%
Asia: Hang Seng -1.7% Shanghai -0.5% Nikkei -0.4%
Gold (1780.80 -3.10) Silver (22.28 -0.17) Crude (68.06 +1.80)Overnight Summary: Dow Futures trading higher amid optimism Omicron could cause less severe illness
US Dow futures are trading higher while Nasdaq futures are trading lower. Concerns about the Omicron variant, which has now been confirmed in several U.S. states and numerous countries persist as markets await more information from public health officials regarding transmission, virulence, and vaccination effectiveness. Dr. Anthony Fauci said while it’s too early to make definitive statements, it “does not look like there’s a great degree of severity” to the Omicron variant, but it does have a “transmission advantage.”
In Europe, markets were mostly lower. October Germany factory orders -6.9% vs. +1.3% prior. South Africa’s president said Omicron hospitalizations are not increasing at an alarming rate.
Asia markets were mostly lower.
Japan’s Nikkei: -0.4%
Hong Kong’s Hang Seng: -1.8%
China’s Shanghai Composite: -0.5%
India’s Sensex: -1.7%
South Korea’s Kospi: +0.2%
Australia’s ASX All Ordinaries: -0.2%What’s moving things:
Mixed disposition in futures market
Early expectation that value will outperform growth
Reports highlight notion that Omicron is easily transmissible, but not all that virulent
Saudi Arabia raising oil prices for U.S. and Asia
PBOC cuts RRR by 50 bps to 11.5%, effective December 15
Press discussing potential for U.S. to announce diplomatic boycott of Winter Olympics
LCID down big on report of SEC subpoena
BKE up on news of special dividend and increase in quarterly dividend
KSS jumping as activist investor pushes case for Kohl’s to pursue value creation efforts, including possible sale
Ratings actions for AAL, EA, GS, HD, FB, BK, C, DOCU, AMGN, and AAPL
November CPI report awaits at end of the weekAfter Hours Gainers:
Companies trading higher in after hours in reaction to earnings/guidance: MDB +17.9%
Companies trading higher in after hours in reaction to news: ACAD +24.2% (announced “positive” top-line results from Phase 3 Lavender trial), TSHA +10.8% (announced late-breaking abstract and poster presentation on preclinical data for TSHA-105), BHG +9.3% (announced $750 mln capital raise), DWAC +7.8% (TMTG appointed Devin G. Nunes as CEO), INTC +7.4% (planning public listing of Mobileye unit, according to WSJ), VAC +1.7% (Interval International unit announced new affiliation agreement with Disney Vacation Club), HI +1.2% (authorized new $300 mln share repurchase program)
After Hours Losers:
Companies trading lower in after hours in reaction to earnings/guidance: HQY -22.7%, GTLB -10.1%, COUP -10.1%, SUMO -1.8% (also appointed Stewart Grierson as CFO)
Companies trading lower in after hours in reaction to news: SI -6.9% (announced public offering of common stock), OWL -2.7% (announced secondary public offering of common stock), GLPI -2.4% (launched public offering of stock; also announced agreement to acquire property assets from The Cordish Companies affiliates)
US $54 billion 3-Year Note Auction:
High Yield Rate: 1.000% (prev 0.750%) WI 1.003%
Tail 0.1 basis points
Bid-Cover Ratio: 2.43 (prev 2.33)
Direct Accepted: 18.0% (prev 18.0%)
Indirect Accepted: 52.2% (prev 57.6%)Dow 35,719.43 492.40 1.40%
S&P 500 4,686.75 95.08 2.07%
Nasdaq 15,686.92 461.76 3.03%
GlobalDow 4,054.76 5.00 0.12%
Gold 1,788.20 3.50 0.20%
Oil 71.72 -0.33 -0.46%
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