#stocks #rally #omicron #cryptocurrency #memes #commodities #economy #politics #Trump #Biden
$DIA $SPY $QQQ $RUT $VXX $USO $AMC $KNIGHTSUSD
“The weekend passed without any ominous reports related to the Omicron, the fake Black Swan”— Paul Ebeling
DJIA +646.95 at 35227.03, NAS Comp +139.68 at 15225.15, S&P 500 +53.24 at 4591.67
The US stock market began the wk on a strong note with the S&P 500 (+1.2%) reclaiming its entire loss from Friday. The DJIA (+1.9%) fared better, rising to a 1-wk high, while the NAS Comp finished +0.9%.
All 11 SP sectors ended Monday in the Green with 9 groups gaining at least 1.0%. The energy sector (+1.5%) finished near the Top of the leaderboard on a rally in Crude Oil.
- S&P 500 +22.3% YTD
- NAS Comp +18.1% YTD
- DJIA +15.1% YTD
- Russell 2000 +11.6% YTD
WTI Crude Oil climbed $3.21, or 4.84%, at $69.59/bbl, Gold futures settled $4.40 lower (-0.3%) to $1,779.50/oz, and US Dollar Index is up +0.2% at $96.32.
AMC Entertainment Holdings Inc. (NYSE:AMC), has announced that based on the strong response to its first movie-themed NFT offer last week, the company is going to release a second one. AMC shareholders who register with AMC’s Investor Connect program will receive the following free NFT. AME is at 28.99 +0.20 (+0.69%) After hours.
The new non-fungible token (NFT) depicting a gold-embossed medallion that says, “I Own AMC” that it will award to members of its AMC Investor Connect program. Self-identified AMC shareholders can sign up for the program and receive extra perks at AMC theaters, as well as other perks like this NFT. As AMC capitalizes on the latest trends among retail investors, bolster its shareholder base, and keep its stock price up.
Monday, the Office of the Comptroller of the Currency (OCC) published its Semiannual Risk Perspective report for the Fall of Y 2021, outlining what the agency sees as the key and emerging risks banks should be aware of. Digital assets have been in the report before, but the Fall 2021 report has the most in-depth analysis of how digital assets might interact with the banking sector.
“Distributed ledger technology and digital assets, including stablecoins and other crypto assets, may broaden delivery channels and the functionality of financial services,” the report says. “The OCC is approaching crypto-related activities in the federal banking system very carefully with a high degree of caution and expects its supervised institutions to do the same.”
The OCC intends to provide more guidance for banks in the coming yr as well, outlining how specifically banks can take up crypto offerings.
The US Economy
Tuesday’s economic data will include October Trade Balance (consensus -$66.80-B; prior -$80.90-B), revised Q-3 Productivity (consensus -4.9%; prior -5.0%), and revised Q-3 Unit Labor Costs (consensus 8.2%; prior 8.3%) at 8:30a EST, followed by October Consumer Credit (prior $29.90-B) at 3:00p EST.
Monday, President Trump (45) was asked about The Washington Post’s claim that Mr. Biden is being covered in the media more harshly than he was during his presidency, a claim that President Trump rejected.
‘‘Well, they’re just lies, and they continue to lie,’‘ President Trump told said. ”It’s been the greatest witch hunt in history. I’ve been under investigation from the day I came down the escalator. They use local, state, city — they go all over. …
”What’s happened is a disgrace, and despite that we got more done than just about any president in history.”
President Trump went on to say that Mr. Biden is no match for President Putin.
Have a prosperous day, Keep the Faith!