Tale of the Tape
Good evening, everyone. The first week of 2021 is done…finally.
The Nasdaq marched to a new high while small-caps stalled. The S&P 500, Nasdaq, and Dow Jones all closed at another all-time high.
Consumer discretionary cruised 2% to close at an all-time high. Financials, energy, industrials, and basic materials all lost less than 0.5%.
Bitcoin ripped, then dipped. $BTC.X nearly ticked 42K before it broke back under 39,000. Where will Bitcoin break next? Place your bets…
Gold and silver struggled. $GLD ▼ 3.4% | $SLV ▼ 6.9%
iShares Emerging Markets ETF $EEM closed at its 3rd highest price in history. Will emerging markets finally emerge? Time will tell. See the weekly charts below.
$LMND lept 5.6% while $BILI bopped 6%.
EV stocks stayed hot. $TSLA ticked a new all-time high and surged to its 11th straight day green day. $NIO also nestled at a new all-time high while Baidu broke out to levels not seen since the summer of 2018.
$TSLA △ 7.8% | $NIO △ 8.5% | $BIDU △ 15.5%
Here are the closing prints:
| S&P 500 | 3,824 | +0.55% |
| Nasdaq | 13,202 | +1.03% |
| Russell 2000 | 2,091 | -0.25% |
| Dow Jones | 31,098 | +0.18% |
Weekly Charts
As we wrap another week on Wall Street, let’s review a few weekly charts.
The small-caps had a strong week. The Russell 2000 rallied 5.9% and closed at a new weekly all-time high. Here’s the weekly chart:
The crypto craze is really real. Bitcoin bopped from 33,000 to nearly 42K. The cryptocurrency was up 20% this week.
Financials flew 4.88% and finished at its highest price since the beginning of the pandemic. In case you forgot, the banks will kick off earnings season late next week.
Emerging markets may have finally emerged!! $EEM inched 5.8% this week to close at a new weekly all-time high.
Social stocks are hot. The social media ETF surged 6% to a new all-time high.
Plug Power popped. $PLUG chugged 58% for its best week since 2017.
Elon’s EV maker continues to make history. Tesla ticked $884.49, or 4,422 pre-split. $TSLA is up 24% in 2021.
December Unemployment
We got December’s unemployment numbers early this morning, and they show the US economy lost 140,000 jobs last month. The unemployment rate remained at 6.7% as employment in leisure and hospitality declined by 498,000.
Here’s the Bureau of Labor Statistics with more.
Remember Quibi?
The company that burned through a billion dollars and then shut down? If you never signed up for the service but still want to watch some of its shows, you may be in luck.
Today, Roku officially acquired the rights to all of Quibi’s content in 2021 for $100 million. This means that all of Quibi’s shows will be in the Roku’s “Roku Channel”, the first exclusive content to be placed there.
We’re sure the lone Quibi fan out there is rejoicing!
New logo who dis?
Apparently GM wanted to leave 2020 behind so badly that it decided to change its logo for only the fifth time in its 113 year history.
This new branding isn’t just the logo — rather, it’s the beginning of a new direction for GM. On Monday it’ll launch a new campaign of ads centered around the new slogan, “Everybody In” which focuses on electric and self driving cars.
We’re just wondering if GM’s shift key was broken when they designed this. lol
The Telecom Blacklist
Shares of China’s three biggest telecom companies tumbled after news of the US government’s investment ban.
The NYSE went back and forth on its decision to officially delist China Mobile, China Telecom, and China Unicom. But now that a blacklist is confirmed, things aren’t looking great for China’s telecom stocks.
The stocks struggled in Hong Kong as the three telecom giants dropped down around 10-11% this morning and closed just off the lows.
The US might even add Alibaba and Tencent to the blacklist. Here’s the WSJ with the details.
Electric Feel ⚡🔋
It’s 2021, and EV excitement is already running rampant. 🔋🚘
US-based Lucid Motors might build its new EV factory near Jeddah, a Red Sea city in Saudi Arabia. The company is negotiating with a $360B Saudi Arabian wealth fund to take on its biggest competitor, Elon Musk.
Meanwhile, China’s Baidu Inc will also start EV production. The company plans to use China-based automaker Geely’s manufacturing plants. $BIDU bopped 11% this week.
Will EV stocks stay electric? Time will tell.
Links That Don’t Suck
🚘 BMW Beats Lexus, Mercedes-Benz for 2020 U.S. Luxury-Sales Crown
🎙️ Fill The Gap: The Official Podcast of the CMT Association
🏢 Billionaires’ Row Condo Records 51% Resale Loss in Luxury Glut
🏄♀️ A Next-Gen Surfing Resort Built in the Desert Near Palm Springs
🔋 Ready for Tomorrow, NIO’s First Autonomous Driving Sedan to Be Unveiled on NIO Day
🦠 Biden Plans to Release Nearly All Available Covid-19 Vaccine Doses
💼 LinkedIn’s Alternate Universe
