Monday December 21, 2020: $128.23 +1.57 +1.24%
Dec 21, 2020 3:07:19 GMT -8
artman1033 and 4aapl like this
Post by Dave on Dec 21, 2020 3:07:19 GMT -8
It’s A new Monday and the pre-markets are red, -$2.24 at the moment. This ride may get rough.
What to Expect in the Markets This Week
Also, this is the first day of winter. The days will start to get longer from here, I like that.
What to Expect in the Markets This Week
Monday, Dec. 21:
Tesla (TSLA) is added to the S&P 500 before markets open
Canadian New Housing Price Index (Nov.)
Mexican Retail Sales (Oct.)
Australian Retail Sales (Nov.)
Tuesday, Dec. 22:
U.K. Gross Domestic Product (GDP) (Q3)
German GfK Consumer Climate Index (Jan.)
U.S. GDP (Q3)
U.S. Existing Home Sales (Nov.)
Bank of Japan Monetary Policy Meeting Minutes
Wednesday, Dec. 23:
Spanish GDP (Q3)
U.S. Personal Consumption Expenditure (PCE) Price Index (Nov.)
Canadian GDP (Oct.)
U.S. Michigan Consumer Expectations and Sentiment (Dec.)
U.S. New Home Sales (Nov.)
Thursday, Dec. 24:
Markets Closed or Closing Early Across the World for Christmas Eve Holiday; See Table Below for Details.
U.S. Core Durable Goods Orders. (Nov.)
Canadian Building Permits
Japanese Retail Sales (Nov.)
Tokyo Core Consumer Price Index (CPI) (Dec.)
Canadian Building Permits (Nov.)
Friday, Dec. 25:
Markets Closed Across the World
Tesla (TSLA) is added to the S&P 500 before markets open
Canadian New Housing Price Index (Nov.)
Mexican Retail Sales (Oct.)
Australian Retail Sales (Nov.)
Tuesday, Dec. 22:
U.K. Gross Domestic Product (GDP) (Q3)
German GfK Consumer Climate Index (Jan.)
U.S. GDP (Q3)
U.S. Existing Home Sales (Nov.)
Bank of Japan Monetary Policy Meeting Minutes
Wednesday, Dec. 23:
Spanish GDP (Q3)
U.S. Personal Consumption Expenditure (PCE) Price Index (Nov.)
Canadian GDP (Oct.)
U.S. Michigan Consumer Expectations and Sentiment (Dec.)
U.S. New Home Sales (Nov.)
Thursday, Dec. 24:
Markets Closed or Closing Early Across the World for Christmas Eve Holiday; See Table Below for Details.
U.S. Core Durable Goods Orders. (Nov.)
Canadian Building Permits
Japanese Retail Sales (Nov.)
Tokyo Core Consumer Price Index (CPI) (Dec.)
Canadian Building Permits (Nov.)
Friday, Dec. 25:
Markets Closed Across the World
Tesla Enters the S&P 500
On the morning of Dec. 21, before trading begins, electric car maker Tesla (TSLA) will be added as a component to the S&P 500. Since Nov. 16, 2020, when the announcement was first made, Tesla's stock has climbed 66%. That makes for a total of a 709.6% year-to-date rise for the stock. What makes Tesla's addition unusual is its size. Normally when stocks are added to the S&P 500, they are smaller stocks that have grown enough in market capitalization to be added to the bottom end of the index. Tesla, with its market cap sitting at about $650 billion, will be slotted into the top 10 largest stocks in the S&P 500, which is capitalization-weighted. It's currently looking like it will be the 6th largest company in the index, only outweighed by the five FAAMG tech giants: Facebook, Apple, Amazon, Microsoft, and Google (Alphabet). Putting this big a stock into the index will mean a lot of rebalancing for a lot of funds which track the index.
On the morning of Dec. 21, before trading begins, electric car maker Tesla (TSLA) will be added as a component to the S&P 500. Since Nov. 16, 2020, when the announcement was first made, Tesla's stock has climbed 66%. That makes for a total of a 709.6% year-to-date rise for the stock. What makes Tesla's addition unusual is its size. Normally when stocks are added to the S&P 500, they are smaller stocks that have grown enough in market capitalization to be added to the bottom end of the index. Tesla, with its market cap sitting at about $650 billion, will be slotted into the top 10 largest stocks in the S&P 500, which is capitalization-weighted. It's currently looking like it will be the 6th largest company in the index, only outweighed by the five FAAMG tech giants: Facebook, Apple, Amazon, Microsoft, and Google (Alphabet). Putting this big a stock into the index will mean a lot of rebalancing for a lot of funds which track the index.
U.S. Housing Market Update
This upcoming Tuesday, Dec. 22, the National Association of Realtors (NAR) publishes existing home sales for the month of November, and on Wednesday. Dec. 23, the U.S. Census Bureau will publish new home sales for November. October, sales of new single-family homes fell by 0.3% from September, but is still 41% above October of 2019. despite record low mortgage rates. However, existing home sales rose 4.3%, rising for a fifth straight month, also substantially higher than this time in 2019. Housing prices have continued to rise as demand outstrips supply. At the rate of house buying in October, the current supply of houses would be exhausted in 2.5 months, a record low for this stat.
This upcoming Tuesday, Dec. 22, the National Association of Realtors (NAR) publishes existing home sales for the month of November, and on Wednesday. Dec. 23, the U.S. Census Bureau will publish new home sales for November. October, sales of new single-family homes fell by 0.3% from September, but is still 41% above October of 2019. despite record low mortgage rates. However, existing home sales rose 4.3%, rising for a fifth straight month, also substantially higher than this time in 2019. Housing prices have continued to rise as demand outstrips supply. At the rate of house buying in October, the current supply of houses would be exhausted in 2.5 months, a record low for this stat.
Also, this is the first day of winter. The days will start to get longer from here, I like that.