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    PEAK MORNING WRAP 28 September: Tech Event… Who is the standout? | US Stocks Rally

    PEAK ASSET: AFTERNOON WRAP 25 JANUARY: | ASX closes 0.4% higher at new 11-month high, Fatfish digital insurance subsidiary Fatberry records ‘explosive’ revenue results|

    PEAK MORNING WRAP 28 September: Tech Event… Who is the standout? | US Stocks Rally

    PEAK ASSET: MORNING WRAP 25 JANUARY: | ASX to rise | Palladium supply is drying up. These Aussie stocks could open the floodgates |

    PEAK MORNING WRAP 28 September: Tech Event… Who is the standout? | US Stocks Rally

    PEAK ASSET: AFTERNOON WRAP 22 JANUARY: | ASX up 1.3pc in huge week for Zip, Lynas | iCandy looks to double up in Chinese gaming market with Rocky Rampage launch |

    PEAK MORNING WRAP 28 September: Tech Event… Who is the standout? | US Stocks Rally

    PEAK ASSET: MORNING WRAP 22 JANUARY: | ASX to fall, Apple lifts Wall Street | The tests ASX healthcare companies have upcoming in 2021 |

    PEAK MORNING WRAP 28 September: Tech Event… Who is the standout? | US Stocks Rally

    PEAK ASSET: AFTERNOON WRAP 21 JANUARY: | ASX gains 0.8pc | Greenhouse study shows AVZ Minerals could achieve lowest carbon footprint at Manono lithium-tin project |

    PEAK MORNING WRAP 28 September: Tech Event… Who is the standout? | US Stocks Rally

    PEAK ASSET: MORNING WRAP 21 JANUARY: | ASX to rise | Eco-fibre play Nanollose leads ASX healthcare sector with 292% gain |

    PEAK MORNING WRAP 28 September: Tech Event… Who is the standout? | US Stocks Rally

    PEAK ASSET: AFTERNOON WRAP 20 JANUARY: | ASX hits 11 month high | China shares rise on c.bank’s liquidity boost; EV, healthcare stocks shine |

    PEAK MORNING WRAP 28 September: Tech Event… Who is the standout? | US Stocks Rally

    PEAK ASSET: MORNING WRAP 20 JANUARY: | ASX to rise | 3 cannabis players discuss how to view the sector through a biotech lens |

    PEAK MORNING WRAP 28 September: Tech Event… Who is the standout? | US Stocks Rally

    PEAK ASSET: AFTERNOON WRAP 19 JANUARY: | ASX rises 1pc | US eyes Australian market as cannabis investment fund takes stake in Lifespot Health |

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    PEAK MORNING WRAP 28 September: Tech Event… Who is the standout? | US Stocks Rally

    PEAK ASSET: AFTERNOON WRAP 25 JANUARY: | ASX closes 0.4% higher at new 11-month high, Fatfish digital insurance subsidiary Fatberry records ‘explosive’ revenue results|

    PEAK MORNING WRAP 28 September: Tech Event… Who is the standout? | US Stocks Rally

    PEAK ASSET: MORNING WRAP 25 JANUARY: | ASX to rise | Palladium supply is drying up. These Aussie stocks could open the floodgates |

    The Cotton Row Journal, week of 18-22 Jan

    Cabrera Capital Daily Game Plan

    Cabrera Capital Daily Game Plan

    PEAK MORNING WRAP 28 September: Tech Event… Who is the standout? | US Stocks Rally

    PEAK ASSET: AFTERNOON WRAP 22 JANUARY: | ASX up 1.3pc in huge week for Zip, Lynas | iCandy looks to double up in Chinese gaming market with Rocky Rampage launch |

    PEAK MORNING WRAP 28 September: Tech Event… Who is the standout? | US Stocks Rally

    PEAK ASSET: MORNING WRAP 22 JANUARY: | ASX to fall, Apple lifts Wall Street | The tests ASX healthcare companies have upcoming in 2021 |

    The Cotton Row Journal, week of 18-22 Jan

    Cabrera Capital Daily Game Plan

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    PEAK MORNING WRAP 28 September: Tech Event… Who is the standout? | US Stocks Rally

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    Edward Jones: Weekly Update

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    Chart of the Day: Coming Up (Smaller Companies Rally)

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    links

    Danny’s Links: January 22nd 2020

    OP: Missing the Mark

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    OP: Missing the Mark

    Protected: OP: Missing the Mark

    S&P 500 repurchasers return to favor as Netflix looks at joining them

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    OP: Wall Street Welcomes Biden

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    Washington Post: 900,000 filed for jobless claims last week, a historically high level as Biden inherits worst job market of any modern president

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    GMTT / Chart of the day / Apple / Oct 27, 2020

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    NASDOG.com: Corn, What Changed Today?

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Need to Know: Stock market exuberance is here to stay, Credit Suisse says. Here’s why investors can be positive

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Need to Know: Stock market exuberance is here to stay, Credit Suisse says. Here’s why investors can be positive

MarketWatch


Need to Know



January 11, 2021

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Stock market exuberance is here to stay, Credit Suisse says. Here’s why investors can be positive



By


Critical information for the U.S. trading day


Angela Weiss/Agence France-Presse/Getty Images

After a volatile first week of 2021, the second week of the year looks set to start in a slightly calmer fashion.

Having said that, markets are once again closely watching U.S. politics, after House Speaker Nancy Pelosi said the House would proceed with legislation to impeach President Donald Trump if the 25th Amendment isn’t invoked.

All three major U.S. benchmark stock indexes closed at record highs on Friday, despite a report showing the first monthly job losses since April amid surging COVID-19 cases. Investors instead focused on President-elect Joe Biden’s promise of more financial aid for Americans, at the end of a week in which the Democrats won both Senate runoff elections, shifting the balance of power in Congress. U.S. stock futures pointed lower early on Monday, suggesting a slight pullback from the record highs at the open.

However, in our call of the day, Credit Suisse strategists said the exuberance was likely to continue, raising their target for global stocks and the S&P 500 SPX. The investment bank’s analysts, led by Andrew Garthwaite, raised their end-year MSCI World Ex-U.S. target from 362 to 375, giving a 12.3% potential return from here. They said it was in line with the bank’s U.S. strategists, who raised the year-end S&P 500 target to 4,200.

They said three key important components — the put-call ratio, the bull-bear ratio and risk appetite — were slightly extended but “not at sell signals.”

“Bullish sentiment is high but at these levels markets continue to rise two-thirds of the time over the next month and we think the bullish sentiment is not reflected in retail or institutional position — indeed net speculative longs on the S&P are below average,” they said.

The strategists’ only worry was that 80% of stocks currently sit above their 200-day moving average, which would typically see markets fall two-thirds of the time over the next month. However, they said: “But in the very early cycle, as we are, this is not a short-term sell signal.

“We think a Democratic clean sweep and the vaccine rollout underpin 5% global GDP growth this year.”

Beyond the near term, there were a number of strategic reasons to stay positive, they said, including “ultraloose” policy and an additional U.S. fiscal boost of close to 2% of gross domestic product. They also saw the start of a bond-to-equity switch, as institutions start to realize that bonds are becoming increasingly less diversifying, return-less risk. Excess liquidity was also consistent with a further rerating and earnings revisions were supportive, the analysts added.

Finally, there was the potential for a “funds-flow squeeze,” with corporate buying of stocks accelerating and retail buying having returned, while pension funds — with low equities weightings in Europe and neutral weightings in the U.S. — wouldn’t be sellers.

This chart from BlackRock shows the performance of U.S. megacap and small-cap stocks over the past year. Megacap stocks are represented by the S&P 100 Index, and small-cap stocks by the S&P 600. Performance is rebased at 100 on Nov. 6 — the last trading day before news organizations declared Biden had won the presidential election and U.S. drug company Pfizer PFE and its German partner BioNTech BNTX announced preliminary efficacy data for their COVID-19 vaccine candidate.


Source: BlackRock Investment Institute, with data from Refinitiv

U.S. stock futures YM00ES00NQ00 pointed lower ahead of the open on Monday, after closing at fresh all-time highs on Friday. European stocks also fell in early trading, as investors assessed surging COVID-19 cases and tough lockdowns across the continent. Bond yields BX:TMUBMUSD10Y rose on concerns the Federal Reserve will be less interested in maintaining the rate of its purchases of them.

The price of bitcoin pulled back sharply on Sunday and again on Monday, after a bullish start to 2021. Bitcoin BTCUSD was last down 8% to $34,740, according to prices quoted by CoinDesk, from nearly $41,000 on Sunday.

Twitter’s TWTR stock tumbled close to 7% in premarket trading after the social-media company’s decision to permanently suspend Trump’s account.

Former Republican California governor Arnold Schwarzenegger compared the events last week at the Capitol to Nazi Germany, laying the blame for the violence at the feet of the president, in a tweet that went viral on Sunday.

The Marriott International MAR hotel chain said it will pause political donations to those who voted against certification of the election. Health-insurance federation Blue Cross Blue Shield and bank-holding company Commerce Bancshares also said they would be suspending donations.

Private-jet company Signature Aviation UK:SIG rose 9% to 443 pence after accepting a $4.63 billion bid from Global Infrastructure Partners that values the company at 405 pence per share. Rival private-equity groups Carlyle Investment Group and Blackstone have also indicated interest.

Robot used for lockdown couple marriage proposal.

‘Don’t look dishevelled.’ Anger over Seoul city’s advice to pregnant women.

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