BMO Capital Markets chief investment strategist Brian Belski discusses his outlook for the markets.
U.S. equity markets trimmed their gains Monday as New York City Mayor Bill de Blasio warned the city could see a full shut down in the weeks ahead due to a surge in COVID-19 infections and as OPEC cut its oil demand forecast.
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| Ticker | Security | Last | Change | Change % |
|---|---|---|---|---|
| I:DJI | DOW JONES AVERAGES | 29999.84 | -46.53 | -0.15% |
| SP500 | S&P 500 | 3663.88 | +0.42 | +0.01% |
| XLE | ENERGY SELECT SECTOR SPDR ETF | 39.80 | -1.31 | -3.19% |
"We’re seeing the kind of level of infection with the coronavirus we haven’t seen since May and we have got to stop that momentum — or else, our hospital system will be threatened," de Blasio told CNN.
The Dow Jones Industrial Average was up 13 points, or 0.04%, paring an early gain of as much as 270 points that came as the first batch of COVID-19 vaccines were delivered and as bipartisan stimulus deal talks showing signs of progress.
The S&P 500, meanwhile, was up 0.15% as energy stocks were a drag after OPEC trimmed its 2021 demand forecast by 350,000 barrels per day. The cartel sees demand rising by 5.9 million bpd next year to 95.89 million.
| Ticker | Security | Last | Change | Change % |
|---|---|---|---|---|
| I:COMP | NASDAQ COMPOSITE INDEX | 12494.314596 | +116.44 | +0.94% |
| ZM | ZOOM VIDEO COMMUNICATIONS INC. | 395.14 | -1.86 | -0.47% |
| TSLA | TESLA INC. | 639.34 | +29.35 | +4.81% |
The tech-heavy Nasdaq Composite, outperformed, rising 1%, as stay-ay-home stocks like Zoom Technologies pared their early losses.
Tesla Inc. which will be added to the S&P 500 on Friday, was among the index's leaders.
| Ticker | Security | Last | Change | Change % |
|---|---|---|---|---|
| PFE | PFIZER INC. | 39.31 | -1.80 | -4.38% |
| BNTX | BIONTECH SE | 111.41 | -15.89 | -12.48% |
In vaccine news, a health care worker in New York state on Monday became the first American to receive the Pfizer/BioNTech COVID-19 immunization.
| Ticker | Security | Last | Change | Change % |
|---|---|---|---|---|
| FDX | FEDEX CORPORATION | 287.48 | -2.25 | -0.78% |
| UPS | UNITED PARCEL SERVICE INC. | 167.69 | -0.71 | -0.42% |
The vaccine will be delivered by FedEx Corp. to 145 U.S. hospitals Monday, followed by another 425 on Tuesday and 66 on Wednesday.
Health and Human Services Secretary Alex Azar told FOX Business 100 million people could be vaccinated by February.
The rollout comes amid chatter that negotiations surrounding a $900 billion COVID-19 relief package could restart after President Trump signed a bill that temporarily funds the government.
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In mergers and acquisitions, British drugmaker AstraZeneca plc agreed to buy U.S. biotech Alexion Pharmaceuticals for $39 billion cash and stock. Alexion shareholders will receive a 45% premium to Friday’s closing price.
| Ticker | Security | Last | Change | Change % |
|---|---|---|---|---|
| AZN | ASTRAZENECA PLC | 50.13 | -4.14 | -7.63% |
| ALXN | ALEXION PHARMACEUTICALS INC. | 157.05 | +36.07 | +29.81% |
Private-equity firm Vista Partners agreed to buy learning-software company Pluralsight Inc. for $3.5 billion cash, or a 25% premium to where shares settled on Friday.
| Ticker | Security | Last | Change | Change % |
|---|---|---|---|---|
| PS | PLURALSIGHT INC | 20.20 | +1.23 | +6.45% |
Electronic Arts Inc. swooped in to buy U.K.-based racing game developer Codemasters in a $1.4 billion deal a month after rival Take-Two Interactive struck a $971 million agreement.
| Ticker | Security | Last | Change | Change % |
|---|---|---|---|---|
| EA | ELECTRONIC ARTS INC. | 137.89 | +2.09 | +1.54% |
| TTWO | TAKE TWO | 196.09 | +5.88 | +3.09% |
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Elsewhere, Virgin Galactic Inc. shares were sharply lower after the company’s test flight conducted on Saturday failed to reach space as planned. The company said a rocket motor did not fire due to the ignition sequence not completing.
| Ticker | Security | Last | Change | Change % |
|---|---|---|---|---|
| SPCE | VIRGIN GALACTIC HOLDINGS INC. | 26.52 | -5.50 | -17.16% |
Meanwhile, Tesla Inc. sent a letter to employees informing them the production of Model X and Model S vehicles will be shut down between Dec. 24 and Jan. 11, according to CNBC. The letter also asks impacted employees to “volunteer” to help deliver vehicles to customers.
| Ticker | Security | Last | Change | Change % |
|---|---|---|---|---|
| TSLA | TESLA INC. | 638.04 | +28.05 | +4.60% |
Looking at commodities, West Texas Intermediate crude slipped 11 cents to $46.46 per barrel while gold slid $11.80 to $1,831.80 an ounce.
European markets were mixed with Germany’s DAX 40 climbing 0.83%, France’s CAC 30 gaining 0.37% and Britain’s FTSE 100 falling up 0.23%.
In Asia, Hong Kong’s Hang Seng index slipped 0.44% while Japan’s Nikkei gained 0.3% and China’s Shanghai Composite rallied 0.66%.
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December 15, 2020 at 01:11AM
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Stocks, oil pull back as de Blasio warns New York City could be shut down - Fox Business
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