Connect with us


Top Stock Market News For Today November 23, 2021

Stock market news to note while investors react to Powell’s Fed renomination.
The post Top Stock Market News For Today November 23, 2021 appeared first on Stock Market News, Quotes, Charts and Financial Information |



Stock Market Futures Edge Lower Ahead Of Earnings & Manufacturing Data

Stock market futures are taking a breather in early morning trading on Tuesday. Investors appear to be carefully considering their next play after news of President Biden’s renomination of Jerome Powell as Federal Reserve Chair. In particular, bank stocks appear to be thriving. Given Powell’s track record throughout the current pandemic, many in the industry seem to believe this to be welcomed news.In fact, Deutsche Bank (NYSE: DB) chief executive of U.S. operations Christiana Riley said, “Chairman Powell has been a steadying force throughout the pandemic and I’m glad to see him continue in this role.

According to Pimco managing director Erin Browne, this could mean continued momentum in the broader stock market. Browne said, “You may see a little bit of a rally on the back of this with the expectation that policy is going to remain in place and intact, and everything that’s been articulated already by the Fed is likely to continue into 2022 and beyond.” As of 7:37 a.m. ET, Dow futures are rising by 0.04%, while S&P 500, and Nasdaq futures are trading lower by 0.06% and 0.24% respectively.

Uber Rolling Into The Blazing Hot Cannabis Market

Things appear to be heating up for ride-hailing giant Uber (NYSE: UBER) this week. Namely, the company is now making its entrance into the booming Canadian cannabis market. By and large, some would argue that it is high time that Uber got into this lucrative industry. With increasing mentions of federal legalization in the U.S., it could be a timely play by the company as well.

In detail, Uber users in Ontario, Canada, can now place orders for cannabis via the Uber Eats app. This is thanks to a collaboration with cannabis retailer Tokyo Smoke, which is now on the company’s marketplace. Now, customers who order their cannabis via Uber Eats will have to pick up their order at Tokyo Smoke locations. According to Uber, the partnership will provide yet another key avenue for Canadian adults to safely purchase their recreational cannabis. Given that the illegal market still accounts for about 40% of all non-medical sales in the region, this is a plus point for Uber.

All in all, Uber appears to be testing out the waters in a market where the legalization of cannabis is more established. In time, should a similar legislative tailwind take place in the U.S., Uber could be more experienced on this front. This in turn could provide it with some leverage over the competition. As such, it would not surprise me to see investors eyeing UBER stock in the long term.

[Read More] Biden To Renominate Fed Chair Jerome Powell For A Second Term

Zoom Beat Estimates And Provides Better-Than-Expected Guidance

Work-from-home tech darling Zoom (NASDAQ: ZM) is also in focus in the stock market today. This would be thanks to its latest quarterly earnings report. For the most part, most would assume that the need for Zoom’s services would drop as the economy reopens. However, with a resurgence in coronavirus cases over in Europe among other international markets, the growth story for Zoom could persist. Not to mention, Zoom would also be another notable player to consider in the current metaverse trade. Seeing as the concept continues to gain momentum, the post-pandemic uses for Zoom could be more than anticipated.

Diving right in, the company’s latest fiscal quarter financials also indicate that growth may not be slowing all that much. After yesterday’s closing bell, Zoom reported an earnings per share of $1.11 on revenue of $1.05 billion. This tops Wall Street’s projections of $1.09 and $1.02 billion respectively. Moreover, the company also saw its net income surge by 71% year-over-year, totaling $340.3 million. According to CFO Kelly Steckelberg, its Zoom Rooms software service continues to see solid growth. Steckelberg notes that it “has become even more important than it was pre-pandemic”.

At the same time, the company is also looking to launch its own proprietary cloud contact center software early next year. Given all of this, it would not surprise me to see investors considering ZM stock on its current weakness.

[Read More] Best Lithium Battery Stocks To Buy Now? 4 To Know

Samsung Looking To Build $17 Billion Chip Plant In The U.S.

In other tech-related news, Samsung (OTCMKTS: SSNLF) is the latest global semiconductor titan to eye U.S. soil for its expansions. Notably, the chip giant is planning to build a $17 billion chip manufacturing plant in the U.S. According to the Wall Street Journal, a potential place of interest could be Taylor, Texas. The journal cites sources stating that Texas Governor Greg Abbott is set to make an “economic announcement” later today at 5:00 p.m. ET.

Should this be the case, Samsung would be setting up its second chip factory in Texas. The new plant would serve to help bolster Samsung’s manufacturing capabilities significantly. Even as the world’s largest memory chipmaker, Samsung remains hard at work addressing the global chip shortages. To highlight, the current plant will likely be set towards making advanced logic chips. The likes of which serve as active components in smartphones and autonomous vehicles among other key tech sectors.

Overall, the current move makes sense. Samsung, alongside rivals Taiwan Semiconductor Manufacturing Company (NYSE: TSM) and Intel (NASDAQ: INTC), is pushing for more contract manufacturing in the U.S. Accordingly, this would be thanks to the Biden administration’s plans to invest billions towards the semiconductor chip industry. All things considered, you could say that semiconductor stocks should not be overlooked in the stock market now.

Stock Market Earnings To Know Today

Aside from all this, there is no shortage of companies reporting earnings today as well. In general, we have a fairly diverse array of names in both the pre-and post-market hours to consider. For starters, retailers such as Dick’s Sporting Goods (NYSE: DKS), Best Buy (NYSE: BBY), American Eagle Outfitters (NYSE: AEO), Abercrombie & Fitch (NYSE: ANF), and Burlington (NYSE: BURL) are on tap. Additionally, the likes of Xpeng (NYSE: XPEV), Medtronic (NYSE: MDT), and Analog Devices (NASDAQ: ADI) are also reporting.

Alternatively, Dell (NYSE: DELL) and HP (NYSE: HPQ) will be hosting their quarterly earnings calls during after-market hours. These key earnings would provide insight into consumer spending on work-from-home tech in the current market. Furthermore, we also have Gap (NYSE: GPS), Nordstrom (NYSE: JWN), Autodesk (NASDAQ: ADSK), and Pure Storage (NYSE: PSTG) as well. From Federal Reserve news to corporate developments and earnings, there is certainly plenty to note in the stock market today.

The post Top Stock Market News For Today November 23, 2021 appeared first on Stock Market News, Quotes, Charts and Financial Information |

Read More

Continue Reading


DB: Is The World Learning To Live With The Virus?

DB: Is The World Learning To Live With The Virus?

After a day of zigzags on the virus front, we end with some encouraging observations from Deutsche Bank’s Jim Reid who shows in his "chart of the day" that according to global mobility data,..



DB: Is The World Learning To Live With The Virus?

After a day of zigzags on the virus front, we end with some encouraging observations from Deutsche Bank's Jim Reid who shows in his "chart of the day" that according to global mobility data, most of the world is back close to pre-pandemic levels of mobility (at least on a population-weighted basis) even if the GDP-weighted figure still lags, partly due to some of the larger DM economies still being down vs. February 2019.

Regardless, as Reid observes, the graph shows that "on both measures mobility is notably above last year’s levels. This helps show why reasonably strong YoY growth shouldn’t be too difficult to attain in H1 2022. In H1 2021, the world wasn’t that mobile."

This is good news because it means that - at least so far- as the winter covid wave and Omicron hit us, aggregate mobility hasn’t yet dipped. This, according to Reid, shows that either people are learning to live with the virus more or that it’s too early to tell as travel and domestic restrictions, only very recently imposed, have yet to fully take their toll, with more possibly to come.

To be sure, Austrian mobility has declined significantly with Germany also drifting lower. So where restrictions have been imposed there has been a consequence.

A more detailed heatmap of global mobility is shown below.

To be sure, the swing factor to winter mobility will be Omicron. For those readers looking for good news, the second chart from Reid shows that in South Africa covid fatalities from the Omicron wave have not responded to the rise in cases in the same manner as prior ones (with a 12-day lag).

While it is still very early days with the data subject to revisions, Reid notes that "we are getting more and more (albeit patchy) evidence that the new variant is less severe. So much now depends on how more transmissible it is, especially in heavily-vaccinated populations." Reid says that he leans on the optimistic side here "but it seems the number of Omicron cases are building fast enough that we should get some decent data very soon on how its impacting well-vaccinated countries."

Tyler Durden Tue, 12/07/2021 - 18:25

Read More

Continue Reading


The Great Realignment: Countless More Americans Will Be Moving From Blue States To Red States In 2022

The Great Realignment: Countless More Americans Will Be Moving From Blue States To Red States In 2022

Authored by Michael Snyder via The Economic Collapse blog,

We are rapidly becoming two very different nations with two very different cultu



The Great Realignment: Countless More Americans Will Be Moving From Blue States To Red States In 2022

Authored by Michael Snyder via The Economic Collapse blog,

We are rapidly becoming two very different nations with two very different cultures.  At one time we truly were the “United” States of America, but now we have been split into two opposing camps that deeply hate one another.  As a result, in recent years we have watched millions of Americans relocate for ideological reasons.  This has caused “red states” to become even redder and “blue states” to become even bluer.  At this point, there are just a handful of “purple states”, and it is in those states where our presidential elections are determined.  It is really not healthy for just a few states like Pennsylvania and Michigan to have such power, but that is a topic for another article.  In this article, I want to discuss why the mass exodus from blue states to red states is actually going to accelerate in 2022.

Right now, there is no issue in the United States that is more divisive than the COVID vaccine.

Most conservatives want to be able to have the freedom to choose whether to take the injections or not, while many on the left want to use the power of government to compel people to get injected.

It has truly been frightening to watch many on the left embrace authoritarianism so eagerly, and many leftist politicians just continue to tighten down the screws.

For example, New York City Mayor Bill de Blasio just decided to impose a very strict vaccine mandate on all private employers in his entire city

Mayor Bill de Blasio announced what he called a first-in-the-nation vaccine mandate for private companies Monday.

He said the combination of the Omicron variant and holiday gatherings forced him to take “bold” steps. He’s giving businesses just three weeks to make sure their workers are vaccinated.

If you don’t get the jab, you won’t be allowed to keep your job.

There will not be a “testing option” under this new mandate, and so anyone that refuses to comply will be kicked to the curb two days after Christmas

De Blasio said the city will release specific rules on Dec. 15, before the mandate takes effect Dec. 27. He said it will apply to in-person employees, but would not provide any details about enforcement. He also said there will not be a weekly testing option.

This is complete and utter lunacy, but of course we are witnessing lots of that in blue states these days.

We are being told that this new mandate will apply to approximately 184,000 businesses, and that means that vast numbers of New Yorkers will soon be forced to search for greener pastures.

One of them is a woman named Cynthia.  She told a reporter that this mandate gave her yet another reason “to get the hell out of New York”

Cynthia, an employee at a Midtown marketing firm who refused to share her last name due to fear of blowback, told the Post that the new requirement is ‘another reason’ to leave the city.

‘Just terrific. Bill de Blasio just gave me another reason I need to get the hell out of New York, or at least find a job that lets me work remotely,’ she said.

Where will thousands upon thousands of displaced New Yorkers like Cynthia go?

One conservative member of Congress that represents New York fears that many of them will head to “the free state of Florida”

‘Mayor de Blasio can’t leave fast enough. He has crushed small business, the economy and quality of life. How many more New Yorkers does he want to see move to the free state of Florida?’ said US Rep. Nicole Malliotakis, who represents Staten Island and Brooklyn.

So New York is going to get even bluer in 2022, and Florida will be getting even redder.

Down in Massachusetts, hundreds of hospital workers were just ruthlessly canned because they refused to comply with a vaccine mandate…

About 200 UMass Memorial Health employees are out of a job because they missed the health care system’s COVID vaccination deadline.

UMass Memorial announced the mandate over the summer with a deadline to get vaccinated or receive an exemption by November 1.

Employees were let go on December 1 if they did not get the vaccine.

Many of those displaced health workers aren’t going to be able to find similar work in Massachusetts, and so they will head to red states.

As for UMass Memorial Health, I am not sure exactly what they plan to do.  You can’t just pull people off the streets to be medical professionals.  They will probably be short-handed for a long time to come, and that is just going to hurt the people that they are supposed to be serving.

In Oregon, a different sort of mandate has people thinking that it may be time to relocate.

If you can believe it, officials in Oregon are actually thinking of making their indoor mask mandate permanent

The Oregon Health Authority (OHA) assembled a Rules Advisory Committee (RAC) earlier this week to address a permanent indoor mask mandate in the state. Oregon is one of a few states that still retain one nearly two years into the pandemic.

The committee included several community stakeholders, including representatives from the hospitality industry, the business sector, and faith communities, according to local ABC affiliate KATU.

I cannot understand why any rational decision maker would want to do such a thing, but apparently they are quite serious.

There are a whole lot of very conservative people that live in eastern Oregon, and I think that even more of them are going to be moving over the border into Idaho in 2022.

Before I end this article, I want to mention what Canada has just done.

Beginning November 30th, all unvaccinated individuals are now banned from using any form of public transportation

In Canada, any travelers older than 12 years old must show proof of full vaccination to take any form of public transportation including domestic and international flights as well as trains.

“Starting November 30 at 3:01 am EST, vaccination will be required for travel within and to depart Canada,” the Candian travel website states. “A valid COVID-19 molecular test will no longer be accepted as an alternative to vaccination unless you’re eligible for one of the limited exemptions.”

Trudeau and his minions have completely gone off the deep end, and I feel so sorry for freedom-loving Canadians that are deeply suffering under his regime.

Of course the Biden administration is considering something similar for domestic travel inside the United States.

Let us hope that they never pull the trigger on such a move.

All over the globe we are seeing governments become more authoritarian, and that certainly sets the stage for some of the things that I warned about in my latest book.

Here in the U.S., countless numbers of freedom-loving Americans are fleeing to red states as they seek to escape the oppression that they have been experiencing in blue states.

Unfortunately, blue state tyrants have no intention of backing down, and this is going to create a tremendous amount of tension in our nation as we head into 2022 and beyond.

*  *  *

It is finally here! Michael’s new book entitled “7 Year Apocalypse” is now available in paperback and for the Kindle on Amazon.

Tyler Durden Tue, 12/07/2021 - 18:05

Read More

Continue Reading


China Says US Trying To “Disrupt” Beijing Winter Olympics, Vows Retaliation

China Says US Trying To "Disrupt" Beijing Winter Olympics, Vows Retaliation

China has followed Monday’s White House confirmation that US government officials will boycott the 2022 Winter Olympic games with a vow to retaliate with "resolute…



China Says US Trying To "Disrupt" Beijing Winter Olympics, Vows Retaliation

China has followed Monday's White House confirmation that US government officials will boycott the 2022 Winter Olympic games with a vow to retaliate with "resolute countermeasures"

Describing that it's lodged a formal diplomatic protest, China's Foreign Ministry said at a Tuesday press conference that the United States is seeking to "disrupt" Beijing's hosting of the games. "Out of ideological bias and based on lies and rumors, the US is trying to disrupt the Beijing Winter Olympics. This will only expose its sinister intention and further erode its moral authority and credibility," ministry spokesperson Zhao Lijian said.

China News Service/Getty Imagest

"The wrong move of the US has undermined the foundation and atmosphere for China-US sports exchanges and Olympic cooperation. It has shot itself in the foot. The US should understand the grave consequences of its move," Zhao added.

While US athletes will be allowed to compete in the games, the Biden administration's largely symbolic slap in the face is geared toward sending a strong message against China's "ongoing genocide and crimes against humanity in Xinjiang," according to a Monday statement. 

Beijing officials have meanwhile suggested that the US government boycott is likely to negatively impact bilateral dialogue and cooperation in key areas.

It's as yet unclear whether other Western-allied governments of the US will follow suit, but it was separately reported early this week that New Zealand officials will also not attend the Beijing games. However, in this case New Zealand Deputy PM Robertson cited the Covid-19 pandemic as the reason, and confirmed his country's diplomats would not attend.

Interestingly, some notable Chinese officials and pundits expressed that if US officials don't come, nobody in China actually cares. For example, Liu Pengyu, spokesperson of the Chinese Embassy in the US, had this to say on Twitter:

"Politicians calling for boycott #2022BeijingOlympics are doing so for their own political interests and posturing. In fact, no one would care about whether these people come or not, and it has no impact whatsoever on the #Beijing2022 to be successfully held."

And Hu Xijin, editor-in-chief of state-run English language Global Times, questioned: "Why the fuss?" He answered, "If US officials don't come, let it be. China didn't invite them anyway."

"Only super narcissistic people will regard their absence as a powerful boycott. Most of those US govt officials are close contacts of the Covid-19 patients according to China's standard, moreover picky and pretentious. You are the people that Beijing residents least want to see," the GT editor quipped sarcastically.

Tyler Durden Tue, 12/07/2021 - 19:45

Read More

Continue Reading