Things seem risk off. Mondays in Europe are odd, because the US sets the tone for markets, but DX is up, commodities are generally down, European equities down quite a bit (ESTX50 down 1.4%). 10 years are up (yields down). This is almost a full house of risk off, although JPY is down a bit, as is CHF. With these two and dollars as all safe haven currencies, one or two are bound to be down, even in the most risk off environments.
Covid numbers seem to be relentlessly rising, the US election race is a mess, the vaccine seems to be further away than ever. This seems to result in widespread risk off behaviour. Exceptions seem to be:
- APHA — a pot stock. These have been beaten down, but if Biden wins, pot will probably made legal at the federal level. 80% of states already have it as legal.
- CCR — coal stock, tiny market cap. Some sort of buyout of the stock by its parent.
- NPR — no idea.
- SHOP — it’s the next $AMZN, right?
- W — it’s lockdown time again, and people are buying garden fireplaces.
- ZS — it’s a SAAS stock and it makes a net profit!!