Reuters / Brendan McDermid
Here’s what you need to know before markets open.
1. Global stocks extend rally, but caution over COVID-19 vaccine limit gains. See how markets are reacting here.
2. UK jobless rate rises to 4-year high in third quarter. Redundancies rose by a record 181,000 on the quarter to reach an all-time high of 314,000, the statistics authority said.
3. Stanley Druckenmiller says work-from-home stocks are overvalued and a rotation into value names is “entirely rational.” He believes gold and bitcoin are good hedges against inflation.
4. Warren Buffett scored $10 billion on 4 stocks after Pfizer’s effective COVID-19 vaccine boosted their value.
5. The S&P 500 will surge another 11% by early 2021, driven by the Federal Reserve’s extremely supportive monetary-policy stance to further bolster stock valuations, JPMorgan said.
6. Here’s why stocks can keep soaring from record levels regardless of the extent of Fed support, according to a Wall Street chief strategist.
7. Earnings expected. Adidas and Fujifilm Holdings are highlights.
8. On the data docket. Speeches by Federal Reserve Governors Randal Quarles and Lael Brainard and JOLTS job openings are due.
9. How to invest in COVID-19 vaccine progress. 3 areas of the market set to directly benefit, straight from Morgan Stanley’s top cross-asset strategist.
10. Why expectations for stock-market chaos plunged after the election.And what 3 volatility experts are recommending clients do right now.
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