Monday Morning Covid News Cycle - Nick Santiago 11-23-2020 #164
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Description
1. The markets are trading higher this morning. The big news is coming from Astrazeneca (AZN), they said one of the dosing regimens in its clinical trial done in partnership...
show moreThen there was news out from Regeneron Pharmaceuticals (REGN). The company said it received emergency use authorization from the FDA for its monoclonal antibody treatment known as REGN-COV2. It seems as if we get positive virus news every Monday lately.
2. This is a holiday trading week. The markets in the U.S. will be closed for the Thanksgiving day holiday. This Friday, the markets will be open for a half day session.
3. Gold/silver getting crushed today. Futures down $35 on Gold. GLD down. SLV down .54 and Silver futures down 3 percent. Nothing out of the ordinary. Bigger time frame pattern. No real damage done here. Gold miners are on the way to becoming very attractive. Approaching tradable opportunity.
4. Technology is on the weaker side. Apple is down $2. Tech is struggling. Money is flowing elsewhere which for now is good. Financials are strong, JPM and Wells are up strongly. Even Citigroup is up 3%.Citi is now the 2nd dog, Wells is the first dog. Good sign of strength for an overall tell of what’s going on in the economy.
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