STOCKS/ECONOMY


​-Stock futures are lower after Thursday's 69-point loss for the Dow, larger 0.4 percent drop for the S&P 500, and 0.1 percent dip for the Nasdaq. Earnings season kicks off in earnest today with several reports from key U.S. banks. We also get December retail sales figures later this morning. 

-The yield on the 10-year Treasury bond is at 1.10 percent, with the 2-year yield 96 basis points behind at 0.14 percent.

-Gold is flat at the $1,846 per ounce level. Bitcoin is down to the $37,300 level.

-Asian markets were mostly flat. Hong Kong's Hang Seng index rose 0.5 percent, Shanghai's Shenzhen composite rose just 0.1 percent, and Japan's Nikkei index was down 0.6 percent. 

OIL/ENERGY

-U.S. crude prices are down 1 percent but still at the $53 a barrel level.

-Gasoline prices continue to rise and are at $2.37 a gallon, national average.

EARNINGS SCORECARD

-JPMorgan Chase reported better than expected quarterly earnings and revenues. JPMorgan shares are up 1 percent in the premarket and closed Thursday up about 2 percent for the year so far. 

-PNC financial reported better-than-expected revenue and earnings for the fourth quarter. But PNC shares are down 2 percent in the premarket. 

CORONAVIRUS LATEST

-President-elect Biden released his $1.9 trillion COVID-19 stimulus plan, which includes an additional $1,400 stimulus check to all Americans, larger unemployment benefits and extending them through September, and providing $20 billion to the states for COVID-19 vaccine distribution. 

-The U.S. has shipped over half a million doses of COVID-19 antibody treatments from Eli Lilly and Regeneron that have the potential to keep high-risk Covid patients out of hospitals, but the Trump administration says hospitals aren't doing enough to administer them to COVID patients.

-Sinopharm, the Chinese state-owned company that is reeling from studies that show its COVID-19 vaccine is only 50 percent effective, says its chairman has stepped down from the board. Sinopharm shares rose 2 percent in Hong Kong trading today, but are still 36 percent down for the year so far. 

-Israel will be issuing "immunity passports" to its citizens who have received both doses of the COVID-19 vaccines; giving them more mobility and exemptions from lockdown rules both at home and in some foreign countries. 

IPO MANIA

-Playtika priced its initial public offering at $27 per share, above the target range of $22 to $24 per share. The mobile gaming company’s stock will begin trading today on the Nasdaq.

-Petco jumped 63 percent higher Thursday from its initial public offering price on its first day of trading. 

-Poshmark had 2021′s best IPO debut day so far with a jump of nearly 142 percent on day one Thursday.

PHARMA

-Generic pharmaceutical company TEVA is launching a generic version of Merck's NuvaRing birth control device in the U.S. market. Teva shares are up 1 percent in the premarket after closing Thursday up 15 percent for the year so far. 

MOVING AMERICA

-The number of people killed on the nation's highways rose 4.6 percent in the first nine months of 2020 despite coronavirus lockdowns that curtailed driving early in the year. Authorities blamed the increase on risky driving behavior that developed when there were fewer vehicles on the road early in the pandemic and some drivers used the lack of congestion as an excuse to drive recklessly. 

-Jeff Bezos’ Blue Origin aims to fly first passengers on its space tourism rocket as early as April.


























































 















































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-Stocks futures are higher after Wednesday's 329-point (1.2 percent) gain for the Dow, 0.8 percent rally for the S&P 500, and 0.7 percent rise for the Nasdaq. All three major indices still posted losses for September, as the Nasdaq lost the most with a 5.2 percent decline.

-We get weekly jobless claims numbers later this morning, with 850,000 new claims expected.

-The yield on the 10-year Treasury bond is up to 0.70 percent, with the 2-year yield 58 basis points behind at 0.12 percent.

-Gold is back over the $1,900 mark at $1,901 per ounce. Bitcoin is up to the $10,800 level.

-Asian markets were mostly flat today, as Japan's Nikkei index closed less one point lower and Shanghai's Shenzhen composite dropped just 0.2 percent lower. Hong Kong's Hang Seng index rose 0.8 percent.

OIL/ENERGY

-U.S. crude prices are down almost 2 percent and back down to the $39 a barrel level.

-Gasoline prices are steady at $2.19 a gallon, national average.

CORONAVIRUS LATEST

-Progress is apparently being made in negotiations for a new COVID-19 stimulus bill. The White House now says it would back a $1.5 trillion price tag, including $20 billion for the U.S. airlines. The Democrats have proposed a plan worth $2.2 trillion. House Speaker Nancy Pelosi and Treasury Secretary Steven Mnuchin say they are continuing their talks.

-But as they wait for more government relief, United Airlines and American Airlines are going ahead with a total of 32,000 job cuts. But United shares are up 2 percent in the premarket and American shares are also up 2 percent.

-Despite positive results so far in the late testing stages for its COVID-19 vaccine, Moderna CEO Stephanie Bancel says she doesn't expect the vaccine to be ready before the Nov. 3 election. Moderna shares are down slightly in the premarket after closing slightly higher Wednesday.

-The CDC has extended its no sail order for cruise ships until the end of this month. But, shares of Carnival Corp are up 1 percent in the premarket and Norweigian Cruise Line shares are up 2 percent. 

FORD SHAKEUP

-New Ford CEO Jim Farley has just announced a major restructuring plan and changes to his top executive ranks, including replacing the company's CFO. Ford shares are up 2 percent in the premarket on the news.

BED, BATH, BOUNCEBACK

-Bed, Bath & Beyond posted better than expected quarterly profits and revenues, thanks to its first same-store sales increase since 2016. COVID-19 lockdowns have boosted demand for the company's in-home products. Bed, Bath & Beyond shares are up 11 percent in the premarket.

PEPSI POPS

-Pepsi reported better than expected quarterly profits and revenues, thanks mostly to increased demand for its Frito-Lay and Quaker Foods snack items. Pepsi also boosted its full year guidance. Pepsi shares are up 2 percent in the premarket.

CONAGRA NUMBERS

-Food producing giant Conagra reported better than expected quarterly profits and revenues and also boosted its quarterly dividend to 27.5 cents per share from 21 cents per share. Conagra shares are up 2 percent in the premarket.

STARBUCKS PLUS

-Starbucks is raising its quarterly dividend to 45 cents per share from 41 cents per share. Starbucks shares are up 1 percent in the premarket.

BOEING MAX MESS

-The head of the FAA is giving Boeing a tentative personal endorsement for fixes to its beleaguered aircraft after he personally took one of the jets on a test flight. Boeing shares are up 2 percent in the premarket.


JakeNovakNews.com