Wake Up Wall Street (SPY) (QQQ): Buy and hold works for all

Ivan Brian FXStreet

Here is what you need to know on Monday, November 22:

Thanksgiving week kicks off and the markets are in a festive mood. Well, the equity markets anyway. This bull just cannot be kept on a leash with more gains on Friday and record highs for Apple. Tesla breaks out and looks like more all-time highs are in sight as records just keep on tumbling in 2021. While Buffet may be in cash the market is certainly not ready to turn over just yet. EV and semiconductor stocks continue to charge while even energy stocks are making up for last week in Monday's premarket. Some key economic data in the shape of PMI's is to come this week and perhaps a new Fed Chairman, who knows? The market will then taper out for Thanksgiving on Thursday and Friday is hangover trading time so volume will be light (keep the sound down!).

The dollar is once again strong at $1.1250 now versus the euro while Bitcoin holds steady at $58,700, Oil is lower at $75 and Gold is $1830.

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European markets are mixed: Eurostoxx -0.1%, FTSE +0.1% and Dax -0.2%.

US futures are up: Dow, S&P and Nasdaq are all +0.4%.

Wall Street stock news (SPY) (QQQ)

President Biden confirms Powell as Fed Chair.

Apple (AAPL) Nikkei news service says delays with iPads for Christmas.

Pfizer (PFE), Moderna (MRNA) Bio NTech (BNTX) US CDC approves boosters for all adults.

Spire (SR) beats on EPS and revenue.

Monster Beverage (MNST) exploring a merger with Constellation Brands (STZ) according to Reuters.

NIO has completed a share offering and raised $2 billion. Plans to take orders for ET7 sedan in January-Benzinga.

General Motors (GM) says 13 new EV's to be launched by 2025 according to Reuters.

AstraSpace (ASTR) up 28% premarket on launch.

Lucid Motors (LCID) down 3% premarket.

Rivian (RIVN) down 3% premarket.

Alibaba (BABA), JD, Baidu fined by Chinese market regulator for failing to declare 43 deals back to 2012.

Tesla (TSLA) app sever outage saw some owners unable to connect to cars.

Upgrades and downgrades

Source: Benzinga Pro

Economic releases

Author

Ivan Brian

FXStreet

Ivan Brian started his career with AIB Bank in corporate finance and then worked for seven years at Baxter. He started as a macro analyst before becoming Head of Research and then CFO.

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