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Apollo Global Management Chief Economist Torsten Slok joins ‘Barron Roundtable’ to discuss pandemic and markets
U.S. equity futures rose on Sunday, alongside Elon Musk’s successful SpaceX takeoff.
Next week, investors will wait for more COVID-19 vaccine updates amid revised restrictions for businesses in urban areas, including New York. Electoral developments will also be closely monitored, alongside a tsunami of large retail revenues.
SUNDAY FUTURES JUMP EXCHANGE
Dow futures added nearly 180 points at 7:45 p.m. ET, Nasdaq futures added more than 100 points, and the S&P 24.
| Teleprinter | security | Latest | Change | % Change |
|---|---|---|---|---|
| I: DJI | MEDIUM DOW JONES | 29479.81 | +399.64 | + 1.37% |
| SP500 | S&P 500 | 3585.15 | +48.14 | + 1.36% |
| I: COMP | NASDAQ COMPOSITE INDEX | 11829.285546 | +119.70 | + 1.02% |
Investors will build on a strong week for US stocks after the S&P 500 hit a new all-time high and the Russell 2000, a benchmark for domestically focused companies, also hit a record high on Friday surpassing all-time highs since August 2018.
NEW YORK ROLLBACK OF CORONAVIRUS REOPENING THREATENS RECOVERY IN RENTAL MARKET
For the week, the Dow Jones tacked about 4%, the S&P more than 2% while the Nasdaq slipped 0.5%. This as global investors have pumped a record sum into equity funds.
GLOBAL STOCK FUNDS SEE RECORD ENTRIES ON PFIZER’S NEW VACCINES
SPACEX LIFTS
Space stocks are likely to see some action following the successful launch of Elon Musk’s SpaceX rocket on Sunday night, setting the tone for further advancements in the industry.
MUSQUE, BEZOS, BRANSON, LEADER OF THE BILLIONAIRE SPACE RACE
| Teleprinter | security | Latest | Change | % Change |
|---|---|---|---|---|
| TSLA | TESLA INC. | 408.50 | -3.26 | -0.79% |
| SPCE | VIRGIN GALACTIC HOLDINGS INC. | 22.27 | +0.65 | + 3.01% |
| UFO | PROCURE ETF TRUST II PROCURE SPACE ETF | 23.70 | +0.69 | + 3.02% |
On the election front, President Trump, via a tweet, sent mixed signals on Sunday about the official presidential election result, hinting that Joe Biden “had won” a “rigged” 2020 presidential election, but adding that he did not concede the race.
TRUMP SAYS FOR THE FIRST TIME BIDEN “ WON ”, ADDS THAT HE IS NOT CONCERNING
On the vaccine front, pharmaceutical companies Pfizer, BioNTech, Eli Lilly, Regeneron and Moderna will remain at the center of concerns for possible updates.
DR. FAUCI TALKS OF RETURN TO NORMAL
President Trump discussed progress and distribution plans on Friday evening, but also criticized Pfizer for not clarifying its involvement in Operation Ward Speed.
| Teleprinter | security | Latest | Change | % Change |
|---|---|---|---|---|
| PFE | PFIZER INC. | 38.62 | +1.07 | + 2.85% |
| BNTX | BIONTECH SE | 106.00 | +4.37 | + 4.30% |
| THERE IS | ELI LILLY & COMPANY | 142.38 | +1.35 | + 0.96% |
| RAIN | REGENERON PHARMACEUTICALS INC. | 566.43 | +9.65 | + 1.73% |
| RNAm | MODERNA INC. | 89.39 | +1.58 | + 1.80% |
GREAT WEEK FOR RETAIL REVENUES
Looking ahead to the results, Tuesday will kick off a busy week for the world’s largest retailers, including Walmart, on Tuesday.
| Teleprinter | security | Latest | Change | % Change |
|---|---|---|---|---|
| WMT | WALMART INC. | 150.54 | +2.31 | + 1.56% |
| TGT | TARGET CORP. | 162.88 | +3.35 | + 2.10% |
The target will follow on Wednesday. As for home improvement chains, The Home Depot reported on Tuesday, followed by rival Lowe’s on Wednesday. Both home-based retailers will give updates on whether the lockouts have boosted DIY improvement projects.
| Teleprinter | security | Latest | Change | % Change |
|---|---|---|---|---|
| High Definition | HOME DEPOSIT INC. | 277.17 | +0.93 | + 0.34% |
| LOW | LOWE COMPANIES INC. | 159.23 | +1.25 | + 0.79% |
In other company news, Boeing could get it from the Federal Aviation Administration if its ailing 737 Max Jet can return to the sky.
| Teleprinter | security | Latest | Change | % Change |
|---|---|---|---|---|
| BA | BOEING COMPANY | 187.11 | +10.39 | + 5.88% |
ECONOMIC CALENDAR
Retail sales data will also feature prominently on the economic calendar, with those statistics due on Tuesday. Economists expect sales for October to rise 0.5% from the healthy 1.9% in September, which was led by clothing, sporting goods and autos. Excluding automobiles, sales could increase by 0.6% against 1.5% the previous month.
The National Home Builders Association will also release its sentiment survey on Tuesday, followed by housing starts and permits on Wednesday, with the two reports assessing future demand.
MORE FIRM TO OIL
Oil hovered around the $ 40 per barrel level early in the session.
| Teleprinter | security | Latest | Change | % Change |
|---|---|---|---|---|
| USE | UNITED STATES OIL FUND LP | 28.13 | -0.53 | -1.85% |
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