Tale of the Tape
Happy hump day, everybody.
The folks in Washington failed to reach a stimulus deal. Some stocks gave up intraday gains. Others held strong.
Here’s the 5-day, 15-min chart of the S&P 500 ETF, $SPY:
The Dow led the major indices. Healthcare, financials, consumer staples, and materials all gained over 1%. Industrials and energy were negative.
Palantir and Asana went public.
Datadog jumped to new highs following its partnership with Microsoft. More on this below.
Here are the closing prints:
Who’s a Good Boy
Datadog ripped 12% after announcing its partnership with Microsoft’s Azure.
The partnership includes Datadog as a first class service in the Azure console which means Datadog will automatically be set up.
Microsoft Azure VP, Corey Sanders said this on the partnership:
Azure is the first cloud to enable a seamless configuration and management experience for customers to use partner solutions like Datadog. Together with Datadog, we are enabling customers to use this experience to monitor their Azure workloads and enable an accelerated transition to the cloud.
$DDOG barked to all time highs. Here’s the daily chart:
Walt Disney announced 28,000 layoffs as its California parks will likely remain closed for the foreseeable future.
The California parks are the company’s only parks that have not opened at some capacity following the COVID lockdown.
Disney isn’t thrilled and said the pandemic has been “exacerbated in California by the State’s unwillingness to lift restrictions that would allow Disneyland to reopen.”
Here’s the Wall Street Journal with more.
Palantir and Asana both went public by way of direct listing.
Palantir, the big data company co-founded by Peter Theil, opened at $11 and closed at $9.51.
Here’s today’s interview with Palantir’s CEO, Alex Karp.
Asana had a better debut as it closed above its opening print.
Here’s the 5-min chart:
Former Goldman Sachs CEO, Lloyd Blankfein shared his thoughts on the market following last night’s Presidential debate.
So far the stock market doesn’t seem too upset at the prospect of Biden winning, despite Trump’s more market friendly policies. Perhaps folks think their stocks and 401(k)s will do better with higher taxes and increased regulation than with nastiness and scorched earth.
🌌 Stocktwits After-Hours
Today on After Hours:
Whipsaw Market Action
Direct Listing Round-Up
Can GM Save Nikola
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Be sure to know when your stocks report earnings. Here’s the earnings calendar.
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