Liveblog Archief vrijdag 4 december 2020

TOP NEWS
• U.S. expected to report slowest job growth in six months
U.S. employers likely hired the fewest workers in six months in November, hindered by a resurgence in new COVID-19 cases that, together with a lack of more government relief money, threatens to reverse the recovery from the pandemic recession.

• Some Sino-U.S. relations damage 'beyond repair', China state media warn
Some damage to Sino-U.S. ties is "beyond repair" amid a new wave of Trump administration measures to counter China, Chinese state media warned, amid growing rancour underlined by an ugly Twitter spat between a U.S. senator and Chinese journalists.

• ANALYSIS-As stocks soar, government shutdown looms amid pandemic
Investors worried about whether a looming government shutdown could slow U.S. stocks' recent surge can take comfort in history: markets have tended to shrug off shutdowns despite their potentially nasty economic impact.

• DoorDash aims to raise $3.14 billion in much-awaited IPO
Food delivery startup DoorDash said it now expects to raise up to $3.14 billion in its U.S. initial public offering (IPO) after lifting its pricing range, signaling a frenzied interest from investors.

• EU tells UK to make up its mind as trade talks near climax
The European Union told Britain that it was time to decide what kind of future relationship it wanted as EU officials suggested negotiators could strike a post-Brexit trade deal as early as the weekend.​


BEFORE THE BELL
Wall Street futures rose, in line with world shares, buoyed by growing prospects of a U.S. economic stimulus package and hopes of vaccine-led economic recovery. Increased appetite for riskier assets pushed the dollar towards its worst week in a month, while gold steadied. Oil prices jumped, after OPEC+ agreed to increase the supply, but keep bulk of the supply cut intact. Employment report from the U.S. Labor Department is due for release later during the day. ​


STOCKS TO WATCH
Deals Of The Day
• Star Peak Energy Transition Corp (STPK). U.S. artificial intelligence-driven energy storage company Stem Inc said it has agreed to go public by merging with the blank-check acquisition company at a valuation of roughly $1.35 billion. The merger with Star Peak will give Stem an estimated $608 million in gross proceeds to invest in its burgeoning smart grid technology which helps support green forms of energy. "The balance sheet strength will support more credit requirements and really allow us to convert larger projects in the pipeline," Stem Chief Executive John Carrington said in an interview with Reuters. Stem expects to generate revenue of $147 million in 2021 and to be EBITDA positive in 2022, a measure of profitability for a high-growth company's underlying business.​

In Other News
• Amazon.com Inc (AMZN). Climate activists piled up giant cardboard delivery boxes outside the finance ministry in Paris, protesting against the company's expansion in France as the online retailer launched a delayed "Black Friday" sales drive. Gathered in the ministry's cobbled courtyard, the protesters from three groups - ANV-COP 21, Attac and Amis de la Terre - rolled out a banner on the building's facade bearing the slogan "change of owner" and featuring the faces of Amazon boss Jeff Bezos and French President Emmanuel Macron. "Amazon is destroying jobs and climate in France. It plans to massively expand in France with dozens of warehouses already built and more to come. We demand a freeze (on building more)," Sandy Olivar Calvo, a spokeswoman for ANV-COP21, told Reuters. Reacting to the protest, Amazon said it had unwittingly become the mouthpiece of organisations that often made use of "misleading" information. It had invested 9.2 billion euros in France and was "at the origin of" the creation of 130,000 jobs, a spokeswoman said.

• Dynavax Technologies Corp (DVAX). Two coronavirus vaccine candidates developed by China's Clover Biopharmaceuticals triggered strong immune responses in an early-stage human trial and appeared to be safe, the company said. The vaccine candidates, one containing an adjuvant from GlaxoSmithKline and the other from Dynavax, induced strong immune responses including neutralizing antibodies and cell-mediated immunity in a Phase 1 clinical trial, Clover said. Adjuvants are ingredients that can boost immune responses. The candidate with the GSK adjuvant will begin a mid- to late-stage clinical trial this month, and the one with the Dynavax adjuvant is expected to start a separate phase 2/3 trial in the first half of next year.

• Moderna Inc (MRNA). The company said on Thursday it expects to have between 100 million and 125 million doses of its experimental COVID-19 vaccine available globally in the first quarter of 2021.The company said 85 million to 100 million of those doses would be available in the United States, with 15 million to 25 million available outside the country. The first-quarter doses are within the 500 million to up to 1 billion doses the company expects to manufacture globally in 2021, Moderna said.

• Nasdaq Inc (NDAQ). The exchange operator apologised for an Australian stock exchange outage last month, while the operator of New Zealand's exchange laid out steps it would take after the completion of two independent reviews into security and system issues. "We take our role as a provider of mission-critical technology seriously and apologise to ASX, its customers and all those impacted", Nasdaq CEO Adena Friedman said. She said the company was committing its "full attention and resources" to the issue.

• Pfizer Inc (PFE). Challenges in the company's supply chain for the raw materials used in its COVID-19 vaccine played a role in its decision to slash its 2020 production target, a Pfizer spokeswoman told Reuters. She also cited later-than-expected results from Pfizer's clinical trial as a reason for the smaller number of doses expected to be produced by the end of 2020. The spokeswoman added that the modifications to Pfizer's production lines are now complete and finished doses are being made at a rapid pace. The Wall Street Journal was the first to report the news. It reported that an unnamed person directly involved in the development of the Pfizer vaccine said “some early batches of the raw materials failed to meet the standards," which caused production delays. Meanwhile, Britain hopes that millions of doses of the Pfizer/BioNTech COVID-19 vaccine will be delivered by the end of the year but the total will depend on how quickly it can be manufactured, Britain's business minister Alok Sharma said. Also, Costa Rica has signed an agreement with pharmaceutical companies Pfizer and its German partner BioNTech for the manufacture and delivery of 3 million COVID-19 vaccines next year, the office of President Carlos Alvarado said on Thursday.

• Uber Technologies Inc (UBER). The company on Thursday asked the U.S. Centers for Disease Control and Prevention to designate its ride-hail and delivery drivers as non-health essential workers entitled to early COVID-19 vaccine distribution. The company, in a letter to the CDC's Advisory Committee on Immunization Practices, said its drivers provided critical transportation for essential workers and allowed others to stay home and order food. "Early access to a vaccine would help drivers and delivery people continue to play their essential role while also reducing the risk that they may inadvertently contract, or possibly transmit, the virus," said the letter, signed by Uber's head of federal affairs, Danielle Burr.​


FOCUS
Airlines see "oasis" in entertainment, energy sectors during pandemic
Airlines eager to fill premium seats left empty by the coronavirus crisis are making a beeline for the entertainment and energy industries, which still must get its workers to far-off places.​


ANALYSTS' RECOMMENDATION
• Avid Technology Inc (AVID). Jefferies raises target price to $13.50 from $9.50, as it believes the company navigated the pandemic well in 2020 and is positioned to succeed in 2021.

• Azek Company Inc (AZEK). D.A. Davidson raises target price to $39 from $33, after the company reported strong fourth-quarter results.

• Dollar General Corp (DG). Raymond James raises target price to $250 from $235, following the company’s strong third-quarter results and on a belief that it is one of the top "all weather" investment opportunities in hardline retail space.

• PVH Corp (PVH). RBC raises target price to $90 from $65, citing digital growth, market share gains in Asia and Europe, lean inventories and an enhanced focus on the consumer space.

• Zuora Inc (ZUO). Jefferies raises target price to $13 from $12, after the company reported strong third-quarter results, supported by accelerated billings growth.​


ECONOMIC EVENTS (All timings in U.S. Eastern Time)
0830 (approx.) Non-farm payrolls for Nov: Expected 469,000; Prior 638,000
0830 (approx.) Private payrolls for Nov: Expected 589,000; Prior 906,000
0830 (approx.) Manufacturing payrolls for Nov: Expected 43,000; Prior 38,000
0830 (approx.) Government payrolls for Nov: Prior -268,000
0830 (approx.) Unemployment rate for Nov: Expected 6.8%; Prior 6.9%
0830 (approx.) Average earnings mm for Nov: Expected 0.1%; Prior 0.1%
0830 (approx.) Average earnings yy for Nov: Expected 4.3%; Prior 4.5%
0830 (approx.) Average workweek hours for Nov: Expected 34.8 hrs; Prior 34.8 hrs
0830 (approx.) Labor force participation for Nov: Prior 61.7%
0830 (approx.) U6 underemployment for Nov: Prior 12.1%
0830 (approx.) International trade for Oct: Expected -$64.8 bln; Prior -$63.9 bln
0830 (approx.) Goods trade balance (R) for Oct: Prior -$80.29 bln
1000 (approx.) Durables ex-defense, R mm for Oct: Prior 0.2%
1000 (approx.) Durable goods, R mm for Oct: Prior 1.3%
1000 (approx.) Factory orders mm for Oct: Expected 0.8%; Prior 1.1%
1000 (approx.) Durables ex-transport R mm for Oct: Prior 1.3%
1000 (approx.) Nondefense cap ex-air R mm for Oct: Prior 0.7%
1000 (approx.) Factory ex-transport mm for Oct: Prior 0.5%


COMPANIES REPORTING RESULTS
No major S&P 500 companies are scheduled to report.


CORPORATE EVENTS (All timings in U.S. Eastern Time)
0800 Big Lots Inc (BIG). Q3 earnings conference call
0900 Copart Inc (CPRT). Annual Shareholders Meeting
1000 Afya Ltd (AFYA). Q3 earnings conference call
1000 Myriad Genetics Inc (MYGN). Annual Shareholders Meeting
1000 Premier Inc (PINC). Annual Shareholders Meeting


EX-DIVIDENDS
AMETEK Inc (AME). Amount $0.18
Anthem Inc (ANTM). Amount $0.95
Bentley Systems Inc (BSY). Amount $0.03
Donaldson Company Inc (DCI). Amount $0.21
Fulton Financial Corp (FULT). Amount $0.04
H & R Block Inc (HRB). Amount $0.26
Insperity Inc (NSP). Amount $0.40
Lancaster Colony Corp (LANC). Amount $0.75
Nike Inc (NKE). Amount $0.27
UniFirst Corp (UNF). Amount $0.25
UnitedHealth Group Inc (UNH). Amount $1.25

Goedemorgen
De Dow Jones won gisteren 0,3% met een slot net onder de 30.000 punten, een uur voor het slot werd er nog verkocht door de twijfels rondom het vaccin en het aantal nieuwe gevallen dat stevig oploopt. De SP 500 ging met 0,1% omlaag terwijl de Nasdaq 0,2% hoger sloot. De DAX verloor 60 punten, de AEX verloor gisteren 0,5 punt.

Gisteren liet Pfizer en BioNTech weten dat ze de beloofde 100 miljoen injecties dit jaar niet gaan halen, nu hebben ze het over ongeveer 50 miljoen, er is een gebrek aan grondstoffen werd als reden gegeven. Het wordt nog iets om voor iedereen een vaccin beschikbaar te stellen maar dat was al een grote uitdaging natuurlijk. Als we dan zien dat het in de VS helemaal uit de klauwen loopt met het aantal besmettingen (gisteren weer 220.000) en het aantal sterfgevallen per dag (gisteren 3000) dan zijn we er nog lang niet klaar mee. Zelf hoop ik dat men er wat aan doet, en dat het een keer stopt maar de Thanksgiving gevallen moeten er dan nog bij komen lees ik. Een reden temeer dat ik niet goed snap waarom de markten zo extreem hoog blijven, wat we nu meemaken is veel en veel slechter dan in maart dit jaar.

Dan toch nog even over Tesla, het aandeel liep nog maar eens 4% op tot bijna 600 dollar (voor split 3000 dollar) omdat de opname in de S&P 500 eraan zit te komen. De waardering van Tesla wordt zo torenhoog, maar er zit blijkbaar geen plafond op. Ik kijk ook naar de marktwaarde en die wordt nu zo ongeveer 550 miljard dollar.

Wat ik kan melden is dat we hier echt moeten opletten met de markt en de hoge standen die we zien, ook het koopgedrag is niet te verklaren want als men iets ziet oplopen springt men er op. Er wordt amper gekeken naar de waardering, naar de toestand van de economie, naar de situatie waar we in zitten. Het zal wel echt heel goed moeten gaan volgend jaar met alles, als dat niet zo is dan loopt de bubbel in no-time leeg. Zelfs met een goeie economische fase zullen de PE waarden van de S&P 500 nog veel te hoog blijven met de koersen van nu en dat zeker bij de hoogvliegers. Zie de tabel hieronder ...

Posities en strategie:
We bouwen al posities op voor wanneer het gaat draaien en ik verwacht dat we dan in ieder geval voor een tijdje kunnen blijven zitten. Wat betreft 2021 dan zie ik zeker genoeg mooie kansen om er wat betreft het handelen een mooi jaar van te maken ...

U kunt mij en dus @USMarkets uiteraard ook volgen via onze Twitter account, ga naar ... https://twitter.com/USMarkets waar ik tussentijds wat charts over de markt en sentiment plaats, ook opvallende beursfeiten komen er vaak langs !

Euro, olie en goud:
De euro zien we nu rond de 1.215 dollar, de prijs van een vat Brent olie staat op 49,5 dollar terwijl een troy ounce goud nu terugvalt tot 1845 dollar.

Maak nu gebruik van de aanbieding op US Markets Trading:
Zoals ik al aangaf sta hoe dan ook klaar om me te herpakken in 2021 wat mijn jaar zal worden wat betreft Trading, lid worden is dus belangrijk om alles optimaal te volgen.

Doe nu mee via de proef aanbieding voor €39 tot 1 FEBRUARI. Dan pakt u december mee en de start van 2021 meteen ook. Polleke Trading is dan €49 ... Schrijf u vandaag nog in via de link https://www.usmarkets.nl/tradershop en dan staat u meteen op de lijst, en ontvangt u de updates en signalen meteen !!

Met vriendelijke groet,
Guy Boscart

GLOBAL TOP NEWS
U.S. President-elect Joe Biden said on Thursday he would publicly take a coronavirus vaccine to demonstrate its safety to the public and pledged to retain the nation's top adviser on the pandemic, Anthony Fauci, when he takes office next month.

The United States set single-day records for new infections and deaths on Thursday as California's governor said he would impose some of the nation's strictest stay-at-home orders in the coming days when intensive care units are expected to reach capacity.

Challenges in Pfizer's supply chain for the raw materials used in its COVID-19 vaccine played a role in its decision to slash its 2020 production target, a Pfizer spokeswoman told Reuters.​


EUROPEAN COMPANY NEWS
Sainsbury's, Asda, Aldi and B&M will forgo UK property tax relief during the pandemic, following rivals Tesco and Morrisons and taking the total recouped by the government from retailers to 1.8 billion pounds.

Budget airline Ryanair on Thursday ordered 75 Boeing 737 MAX jets with a list price of $9 billion, throwing a commercial lifeline to the embattled U.S. planemaker after regulators lifted a 20-month safety ban.

Italian state-owned bank Monte dei Paschi di Siena said on Thursday it would tell the European Central Bank by the end of January how it plans to tackle its capital shortfall.​


TODAY'S COMPANY ANNOUNCEMENTS
Advides AG Annual Shareholders Meeting
Associated British Foods PLC Annual Shareholders Meeting
Aston Martin Lagonda Global Holdings PLC Shareholders Meeting
Hammerson PLC Shareholders Meeting
La Chausseria SA Annual Shareholders Meeting
Pattern SpA Shareholders Meeting
Ruffer Investment Company Ltd Annual Shareholders Meeting
VinaCapital Vietnam Opportunity Fund Ltd Annual Shareholders Meeting​


ECONOMIC EVENTS (All times GMT)
0700 (approx.) Germany Industrial Orders mm for Oct: Expected 1.5%; Prior 0.5%
0700 (approx.) Germany Manufacturing O/P Cur Price SA for Oct: Prior -2.7%
0700 (approx.) Germany Consumer Goods SA for Oct: Prior 109.6
0745 France Budget Balance for Oct: Prior -161.59 bln EUR
0830 Germany IHS Markit Construction PMI for Nov: Prior 45.2
0830 France IHS Markit Construction PMI for Nov: Prior 42.7
0830 Italy IHS Markit Construction PMI for Nov: Prior 48.1
0830 Euro Zone IHS Markit Construction PMI for Nov: Prior 44.9
0900 (approx.) Italy Retail Sales SA mm for Oct: Prior -0.80%
0900 (approx.) Italy Retail Sales NSA yy for Oct: Prior 1.30%
0930 United Kingdom Markit/CIPS Construction PMI for Nov: Expected 52.0; Prior 53.1
0930 United Kingdom All-Sector PMI for Nov: Prior 52.2
1402 Euro Zone ECB Refinancing Rate for Nov: Prior 0.00%
1402 Euro Zone ECB Deposit Rate for Nov: Prior -0.50%​