The Weekend RIP: Is Wall Street Already On Vacation?

Tale of the Tape

Good evening, folks. We’ve got 3 weeks left in 2020. Time flies… 😅 

Covid cases continue to climb but, we’ve got good news. Pfizer’s vaccine was approved Friday night and shipped early Sunday. Will the markets rally higher as a result? 🤷‍♂️ 

We’re still waiting on Washington to settle a stimulus deal. Last week the European Union finalized a 13-figure plan ($2.2T 👀).

Affirm and Roblox both postponed their IPOs. Perhaps “Wall Street” is on vacation until 2021? 

Earnings will be light this week. We’ll see numbers from Lennar on Wednesday, FedEx on Thursday, and Nike on Friday.

The small-caps have been strong for 6 straight weeks. Can the Russell 2000 rally continue? Place your bets… 

Here’s the weekly S&P 500 chart:

S&P 5003,663-0.96%
Russell 20001,911+1.02%
Dow Jones30,046-0.57%
Weekly Percent Changes

The Vaccine Has Shipped

The FDA issued Emergency Use Authorization for Pfizer-BioNTech’s COVID-19 vaccine on Friday, and it has already shipped.

Here are the first trucks leaving Pfizer’s facility with more than half a million doses early Sunday morning:

Front-line workers treating Covid patients and nursing-home residences could receive the vaccine as early as Monday. The rest of the U.S. will have to wait for further production.

Here’s Bloomberg with more.

2021 Could Be Fun?!

UCLA Anderson held its December 2020 Economic Outlook last week and things are looking up. 

Senior economist Leo Feler, anticipates two more quarters of slow growth before significant growth in the second quarter of 2021.

Feler shared:

Right now, the key issue is how we will make it through to an exuberant spring. These next few months will be dire, with rising COVID-19 infections, continued physical distancing, and the expiration of social assistance programs. Additional timely fiscal relief would prevent unnecessary hardship and allow the economy to maintain the structural relationships that will help us recover more quickly once vaccines become widely available.

The event also touched on trends in the solar industry. California produces and consumes more solar than any other state. Last September, nearly 20% of the net electricity generated in the Golden State came from solar. wow.

Here’s UCLA with more. 

Sunday Links:

🎯 Watch IBD’s experts pick winning stocks every morning on IBD Live. Try 2 free weeks on us!*

🎉 Sunday Reads: Siren Songs ~ IPOs & SPACs 

🚲 That “Tesla E-Bike” Is Gorgeous, But It Makes No Sense

💹 CWS Market Review – December 11, 2020

🤝 AstraZeneca Agrees to Buy Alexion for $39 Billion

🔋The Car I’m Most Excited to Drive in 2021 Could Change Everything

🏝 John Stefanidis Designs a Dreamy Escape on the Island of Patmos


The Week Ahead

And now a brief and well-organized look ahead at the trading week beginning Monday, December 14th, 2020:

Economic Calendar:

  • 12/15  November Industrial Production (9:15 AM ET)
  • 12/16  November Retail Sales (8:30 AM ET)
  • 12/16  December FOMC Rate Decision (14:00 PM ET)
  • 12/17  November Housing Starts (8:30 AM ET)

Here’s the full Economic Calendar provided by Briefing

Earnings Calendar:

Be sure to know when your stocks are reporting. Here’s the earnings calendar