Investors are returning from a holiday weekend in an optimistic mood, with some attributing that optimism to an imminent change of guard at 1600 Pennsylvania Avenue. And we have earnings and comments from the best choice of Biden’s Treasury, Janet Yellen, before.
S&P 500 SPX,
increased by about 0.3% for the year after last week’s withdrawal. This fades compared to some assets, with bitcoin BTCUSD,
increasing by 27% this year, after a profitability of 300% in 2020. And the electric car manufacturer Tesla TSLA,
has gained 17% so far in 2021, after an increase of about 700% last year.
Read: The new Tesla stock price target of $ 950 on Wedbush is the highest on Wall Street, but the analyst still will not say to buy
On this note, we move on to ours call of the day, which is all about bubbles. It comes from a survey recently published by Deutsche Bank, which asked, among other questions, where investors see the foam right now.
About 89% of respondents believe that the markets are facing bubbles, and two stand out – US technology stocks and bitcoin. The latter is approaching “extreme bubble” territory.
“Asked specifically about the 12-month fate of bitcoin and Tesla – a flagship stock for a potential technology bubble – most readers find it more likely to halve than double these levels, with Tesla more vulnerable to readers “said strategist Jim Reid and research analysts Karthik Nagalingam and Henry Allen. Tesla will report fourth-quarter earnings on Jan. 27.
More bubble thoughts about bitcoin – the cryptocurrency would have surpassed the “busiest position” in the monthly survey of the fund manager of Bank of America, eliminating the technological actions on the highest perch.
However, when it comes to bitcoin, enthusiastic investors don’t seem so scared:
Another question asked in the Deutsche Bank survey was whether it is possible that a potential bubble popper – the Federal Reserve is reducing its asset purchase program – is likely.
“71% of respondents do not believe that the Fed will slow down before the end of the year, which is in line with what the Fed governors said by the end of last week, but a quarter of readers might think that growth / markets it could force your hand, ”said Reid and the team.
Read: BlackRock chief executive says top investor highlights valuation and inflation concerns
markets
NQ00 futures technical actions,
by the way, lead above, followed by Dow and S&P 500 futures YM00,
ES00,
with European shares SXXP,
and a mixed day for Asian markets. The International Energy Agency has reduced its oil demand forecast to 2021. Gross prices CL.1,
they seem insensitive.
quote
“Only 25 doses were given in a low-income country – not 25 million, not 25,000 – only 25. I have to be straightforward: the world is on the brink of catastrophic moral failure.” He was the director general of the World Health Organization, Tedros Adhanom Ghebreyesus, who had harsh words on global vaccine inequalities on Monday.
Buzz
Bank of America BAC,
the shares fell after the expected profit, but disappointing in terms of revenue, while Goldman Sachs GS,
stocks are rising after strong results. Streaming giant Netflix NFLX,
is due after closing. See earnings preview.
In a statement prepared before the confirmation hearings, nominated for the Treasury, Yellen says that US policy must “act to a large extent” to help Americans fighting against the COVID-19 pandemic. He also expects to say that the US does not want a weaker dollar.
The incoming Biden administration has said coronavirus travel restrictions apply to travelers to Europe and Brazil after President Donald Trump just lifted the ban. This is happening with the increase in the number of deaths through COVID-19 in 2/3 of the US states.
The California State Epidemiologist has advised stopping the launch of more than 300,000 doses of Modern Biotech MRNA,
vaccine, after possible allergic reactions by some recipients.
COHR coherent,
the shares fly after optical component maker Lumentum said it agreed to buy the laser maker in a $ 5.7 billion cash and stock deal.
Western Union’s WU,
shares are on the rise after the money transfer company announced a transaction in the stores of retail giant Walmart WMT,
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Also, from that Deutsche Bank survey there were some questions about COVID-19 vaccines and blockages. It seems that at the end of this year, life is expected to return to “normal”.
And when it comes to vaccines, more people seem willing than last month:
Random readings
Like in that Tom Hanks movie? A man from California built an airport at home for three months.
And Redditors have rushed about everything they like and miss about airports right now.
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