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Jeff Bishop’s Top Stock Tickers

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The Dow Jones has climbed as much as 1,500 points this morning!

Markets initially pushed higher on news the Joseph Biden is slated to become the 46th President of the United States.

That included news that the Japanese Nikkei had hit a 29-year high.

Then the markets received another shot in the arm.

Pfizer (PFE) and BioNTech (BNTX) said that their vaccine topped a 90% efficacy rate at preventing infection in recent trials.

Albert Bourla, Pfizer’s chairman and CEO of Pfizer, said that recent trial results have provided a “great day for science and humanity.”

Shares of BTNX surged more than 25% on the news.

PFE gained another 13%.

Let’s dive into the other big stories driving the market on Monday.


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The Rundown: Today’s Top Market Stories

Today’s Outlook

Monday’s trading is all about Joe Biden and the progress of a vaccine. The Dow added more than 1,500 points. The S&P jumped 142. Oil… OIL is up 9.6%, and the 10-Year Bond surged to 0.92%.

The MSCI All-Country World Index hit an all-time high this morning. The speculation is that America’s economy and markets won’t change much after the election. However, the markets anticipate less volatility, political tension, and trade uncertainty.

There will be a swell of optimism today over the prospect of divided government.

Yes… Democrats do have an outside chance of capturing two Senate seats in a runoff. This would make the Senate split 50-50 between the GOP and Democrats. At that point, VP-elect Kamala Harris would cast the deciding vote in the event of a tie.

However, West Virginia Democrat Joe Manchin is more conservative than some Republican senators and will likely oppose the end of the filibuster.

That reluctance would prevent court-packing, statehood for Puerto Rico and Washington D.C., and several other initiatives that would swing government control into the hands of Democrats.

It also will impede Biden’s chances of eliminating Trump-era tax cuts or introducing a Green New Deal. Pundits anticipate that Biden will use executive orders to implement as much of his agenda as possible over the first 100 days, including some student loan forgiveness programs.


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The Spread Continues

We’re seeing a big uptick in new health cases, according to Johns Hopkins University.

U.S. cases surpassed 10 million on Sunday. Cases surpassed 100,000 for the fourth straight day yesterday. Meanwhile, in Germany, the number of patients in ICUs hit a new record

It’s very important to consider that it will take months for Pfizer and other companies to disperse the vaccine.

And, the companies that were part of Operation Warpspeed are relying on the U.S. military, the media, and politicians to make the case that Americans should take the doses.

Last night, 60 Minutes provided a brief story on the planned rollout of the vaccine in the months ahead.

The most startling part of the report was the relatively low number of health workers committed to getting the vaccine.

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Value is Dead Again

If you’re looking for the biggest loser in the 2020 election, I’ve found it. It’s value stocks. Investors were anticipating a Democratic Sweep of Congress and the White House.

That victory would have fueled a reallocation from growth stocks to value stocks, according to a popular thesis. But, it didn’t happen. And we’re seeing investors pour back into growth stocks.

I’ll be discussing this trend tomorrow in RagingBull Investor.


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Today’s Top Stock Tickers

MCD: Shares of McDonald’s popped nearly 4.6% after the company reported earnings before the bell. The fast-food giant reported a 4.6% jump in same-store sales in Q3.

MTDR: Shares of Matador Resources rallied 7.8% this morning. The stock received a boost from the big rally in oil prices Monday. Wall Street has a price target of $11.67 on this stock, which is just on the cusp of breaking $7.00. We’ve also seen a string of small insider purchases over the last week.

RCL, CCL, UAL, DAL, LUV, JBLU – If you’ve been brave enough to hold cruise and airline stocks, you’ll reap the reward of optimism today. Shares are rallying across the board on the news of the vaccine efficacy rates. But pay attention to the Herzfeld Caribbean Basin Fund (CUBA) if you’re looking for a backdoor way to capture some value in the cruise industry. This closed-end fund is still trading at a massive discount and hasn’t cut its 16% distribution.

MY STOCK WATCH LIST

NKE: Coming off a double top, Nike looks to continue a rip higher. Shares added another 6% this morning. A run toward $140 looks possible. If the goldilocks scenario holds, a stimulus package enters the picture, and consumer spending holds ahead of the holidays, Nike can continue its very impressive 2020 rebound.

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APPS: Digital Turbine shares are off more than 12.5%. This was a stock that had incredible momentum from its pullback on November 2. I’m interested in this stock if it keeps falling. Its recent Q2 earnings report showed a 116% increase in revenue. The company’s growth and profitability numbers are solid. I’m looking at this stock as a potential buy if it falls between $20 and $25. And it could in this market.

CRDF: Cardiff Oncology is steadily moving higher thanks to progress on its Phase 2 trial for onvansertib in metastatic castration-resistant prostate cancer – mCRPC. Friday, shares ripped another 6.6%. But momentum appears ready to give this a short-term bump. Wall Street has an average price target of $24. Insiders have added stocks. The technicals look positive. I would like to see some additional institutional involvement.

BIF: Over the weekend, we learned the news that Berkshire Hathaway (BRK.A) bought back $9 billion in its own stock. Shares are up more than 2% in premarket hours. However, people are STILL IGNORING the closed-end fund Boulder Growth and Income (BIF).

This closed-end fund is trading at a 19.4% discount to its Net Asset Value and pays a dividend of 4.1%. Roughly 30% of the portfolio consists of Berkshire Hathaway Class A stock and another 8.6% Class B stock.

From there, the fund holds most of Berkshire’s portfolio of stocks including JPMorgan, Cisco, and Walmart. Oh, and Berkshire doesn’t pay a dividend, while BIF does. At under $10, this fund is a steal. Eventually, the NAV gap will reduce.

OTHERS TICKERS TO WATCH: SUNS, QTRX, MBIO, PETQ