Tale of the Tape
Happy Friday, Folks! We hope y’all had a great week.
The major indices were mellow. The Dow was the only major index to close positive while the S&P 500 fell 0.13% for the second day in a row.
Energy and financials both fell more than 1%.
The Mouse showed out. Disney dashed 13% to all-time highs after yesterday’s investor webcast. See more on Mickey below.
The Unicorns chilled after their dazzling debut. $ABNB checked out at $139.25. The stock posted an inside day— who knows where it moves on Monday. 🤔 $DASH dropped 5.9%, but the stock is only down 3.8% from Wednesday’s opening print.
Twitter acquired Squad, a screen-sharing social app. What’s up, Jack?
$TWTR finished higher, so maybe Squad won’t be a victim like Vine.
$LULU lost 6.6% after last night’s earnings. $REGI rallied 7.43% on no news. $QCOM collapsed 7% after Apple declared the development of its first cellular modem.
Maybe Texas is the next Silicon Valley?? Oracle will join Elon in the Lone Star State.
Rumors are running around Dropbox. The stock popped >10% after hours. We’ll wait and see what news breaks.
Here are the closing prints:
| S&P 500 | 3,663 | -0.13% |
| Nasdaq | 12,377 | -0.23% |
| Russell 2000 | 1,911 | -0.57% |
| Dow Jones | 30,046 | +0.16% |
Up – The Story of $DIS
We’ll give you one guess who was #1 all day on Stocktwits. (hint: it’s the streaming service with the mouse)
Disney’s investor day was, to put it simply, bonkers. Seriously. Check out everything Disney announced (including new Marvel and Star Wars movies, plus approximately 2.4 trillion other movies and shows).
To be successful you either need to be good or lucky… or have 92 years worth of cult classics, nostalgia, and Star Wars.
We really didn’t think Mickey Mouse and Disney were going to lose to Tiger King and Netflix, right?
$DIS ripped to all-time highs. Here’s the daily chart:
Weekly Charts
We closed out another week on Wall Street. It’s hard to believe we only have 3 weeks left in the year. Here are a few weekly charts for your viewing pleasure:
The Russell 2000 was the only major index to finish green this week. $RUT rallied 1% as the small-caps continue to show out.
Bitcoin broke down 6% after coming oh-so-close to 20K. Will $BTC.X break the round number next week? Place your bets…
Biotech bounced higher for the 3rd week in a row. This comes after the iShares Nasdaq Biotechnology ETF, $IBB, broke out of a 5-year base. Is $IBB making the next move up? Time will tell…
COVID Vaccine Coming Soon??
The US FDA will make its decision on Emergency Use Authorization for Pfizer’s COVID vaccine very soon.
So far, things are looking good— the FDA responded positively to the company’s Phase 3 efficacy results. An EUA decision could even be made today!!
Baby steps, ladies and gentlemen. 🤗
Yesterday, the FDA’s advisory committee voted 17-4 in favor of granting the vaccine’s EUA. Pfizer’s CEO said:
I would like to thank the FDA’s advisory committee for recognizing the critical role that our vaccine may play in helping to address this ongoing pandemic. Today’s positive discussion and vote reinforces the potential of our COVID-19 vaccine candidate in helping to protect people against this deadly and devastating disease.
Here’s the press release. Oh, and Pfizer just raised its Q1 2021 dividend.💰
No More Indoor Dining for NYC
New York Gov. Cuomo just shut down all of NYC’s indoor dining effective Monday due to rising COVID hospitalizations.
In his tweet, Cuomo said takeout, delivery, and outdoor dining can continue. NYC Mayor de Blasio commented:
I feel tremendous empathy for restaurant owners. We want them to survive, we need them to survive. […] But at the same time, these numbers don’t lie. That’s a second wave.
2 months ago, NYC restaurants opened at 25% capacity. But even with safety precautions, more than half of NYC’s restaurants are in danger of closing.
Congress is working on a stimulus bill that could aid the hospitality industry— though it’s still unclear how restaurants will be affected. Here’s the WSJ with more.
The Illusion Has Become Real.
Oliver Stone’s Wall Street premiered 33 year ago today. It’s a classic. If you haven’t seen it… we suggest you watch it this weekend.
Robert Ebert, the only film critic with a star on the Hollywood Boulevard Walk of Fame, wrote its review in 1987.
Oh, and in case y’all forgot or were unaware, the beloved film, The Wolf of Wall Street was produced with fraudulent funds. 🙈🙊 Where is Jho Low..? 🐋
h/t Carl Quintanilla
Cudi Goes Galactic 🧔🏾 🌕
NASA might not be putting men on the moon anymore, but somehow Kid Cudi got there for the third time.
The album starts with Cudi humming (arguably the greatest achievement of the human voice ever), and continues ~vibing~ from there.
The album continues trends from prior albums, and features artists like Skepta, Pop Smoke, Phoebe Bridges, and Trippie Redd.
Cudi closed the album out with To be continued… MOTM IV coming in the future? 🤔
Oh, and TSwift dropped an album too — we’re really happy for her and we’ll let her finish making waves, but Cudi dropped one of the best albums of 2020.
Links That Don’t Suck
💸 IPOs Taking Off
🙏 Anticipating a Coronavirus Vaccine, UCLA Anderson Forecast Expects Robust Economic Recovery to Begin in Spring 2021
🎵 Kid Cudi: ‘Man on the Moon III: The Chosen,’ Working With Pop Smoke, Anxiety
🏠 Margot Robbie Asks $1.2 Million for Hollywood Heights Bungalow
⚖️ My Advice to the Attorney Generals: It’s not about Zuck – OM
🌲 Forest House – Raised Up on Stilts
