THE GREATEST EVER 
| ‘THANK YOU, AND FAREWELL’: Donald Trump Releases His Final Video as President of the USA |
| Outgoing President Donald Trump released his “farewell” video from the White Hou |
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A Storm is Coming
In just the past few weeks, a number of strange events have begun to play out in the financial markets...
With almost ZERO fanfare or media coverage.
Here's what we're seeing:
- Goldman Sachs, JP Morgan, Morgan Stanley, and Bank of America ALL quietly changing their stock outlook for 2021...
- An historically unprecedented anomaly in the options market...
- And a brand-new COVID-19 statistic that I haven't seen published ANYWHERE in the mainstream media.
Separately, these events all seem totally disconnected...
But together, they represent the rare market signal that one Finance PhD has been waiting for since stocks bottomed in March 2020.
Dr. Steve Sjuggerud is one
of the most widely-followed analysts in the world, with over 500,000
people relying on his market predictions.
And he just issued a brand-new warning for what's coming to the stock market in 2021.
He says:
This is the calm before the storm - something big is brewing in the financial markets...
And the decisions you make in the coming weeks could affect your wealth for the next decade.
Dr. Sjuggerud just teamed up
with another big-name investor to get his new prediction into the hands
of as many Americans as possible - before it's too late.
Click here to hear his new prediction for yourself (free for a limited time).
Regards,
Allison Comotto
Senior Staff, Stansberry Research
Delivering World-Class Financial Research Since 1999
You better watch Bill O’Reilly’s money message before it’s too late.
One network flat out told us they refuse to run it because of its “conservative nature.”
Wouldn’t you agree – that’s a direct violation of freedom of speech?
What we fear now is that other networks might piggyback on this ban…
So we’re doing all we can to get O’Reilly’s message to you… before it gets silenced altogether.
I urge you to watch it closely… and take notes.
You’ll discover the truth
about the economy… and what it takes to dramatically build your wealth
in the current markets.
Mitch McConnell: Capitol rioters were lied to and ‘Provoked by the President’
LAST MINUTE: Donald Trump pardons Steve Bannon
YouTube Bans Trump for Another Week Due to Inauguration Violence Concerns
Joe Biden put on the spot: Pompeo accuses China of ‘Genocide’
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TOGETHER WITH
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Good morning. Today's
newsletter is dedicated to the great state of Delaware, which is home
to the Dogfish Head 90 Minute IPA, elite quarterbacks, more than 66% of
the Fortune 500, and later today, the 46th president of the US.
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NASDAQ
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13,197.18
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+ 1.53%
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S&P
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3,798.91
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+ 0.81%
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DOW
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30,930.52
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+ 0.38%
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GOLD
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1,839.30
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+ 0.51%
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10-YR
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1.095%
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+ 0.40 bps
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OIL
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53.01
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+ 1.24%
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*As of market close
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Covid-19: The seven-day average of new cases in the US has fallen 16%
from a week ago, and the declines are occurring across all regions.
However, as of yesterday, the US death toll from Covid-19 hit 400,000.
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Government: President Trump issued another big round of pardons, granting clemency to his former WH aide Steve Bannon and rapper Lil Wayne.
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Markets: Stocks rose
as investors prepared for a new era under a President Biden—one that
may include a whole lot more stimulus to blunt the worst economic
effects of the pandemic.
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Andy Manis/Getty Images
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With just a
few hours left in President Trump's term, let's crack open the scrapbook
and review his administration’s influence on business and the economy.
Trade: Trump
vowed to bring American jobs back from overseas by renegotiating free
trade agreements. He immediately ditched the Trans-Pacific Partnership
and, in 2018, launched an 18-month trade war with China that frustrated
many American multinational companies. Hundreds of billions in tariffs
later, the US trade deficit with China hit a 14-year high last August.
- Trump successfully
replaced NAFTA, a North American trade deal he's called "the worst trade
deal ever made," with USMCA, an updated agreement for a modern, digital
economy.
Markets: Supported
by a red-hot economy, strong corporate earnings, and expansionary
policy from the Fed, the US stock market soared over the last four years
(the S&P is up about 67%). Not all sectors performed equally—tech
shares have surged while energy stocks lost value.
Taxes: Trump
and the GOP overhauled the US tax code with the Tax Cuts and Jobs Act
of 2017. This law significantly reduced the corporate income tax rate
from 35% to 21% and lowered the rates on most individual income tax
brackets.
Jobs: In
February 2020, the US unemployment rate hit a 50-year low of 3.5%,
which reflected a searingly hot job market during the first three years
of Trump's presidency. But the coronavirus crisis changed all that. In
March and April of last year, the US lost more than 22 million jobs—and
Trump will become the first president since Herbert Hoover (1929–1933)
to leave the White House with fewer jobs than when he moved in.
Big picture
Because of
his erratic approach to policymaking and his embrace of far-right
extremists, President Trump's once-cozy relationship with Corporate
America deteriorated over his term. Any remaining goodwill was
extinguished with the storming of the Capitol on January 6, after which
social media companies banned Trump's accounts and the National
Association of Manufacturers pushed for his removal via the 25th
Amendment.
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Chip Somodevilla via Getty Images
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Someone get Janet Yellen a permanent nameplate for the Senate Finance Committee. Yesterday, the former Fed chair had her fifth confirmation hearing, this time for the US’ top fiscal policy job: Treasury secretary.
Yellen wants to "act big," which means more...
Stimulus. She forcefully defended Biden's proposed $1.9 trillion aid bill.
She argued that failure to support workers and businesses risks "a
longer, more painful recession now and longer-term scarring of the
economy."
Climate action. Yellen will establish a Treasury team to examine climate change's threat to financial systems.
Corporate taxes: Eventually, Biden and Yellen want to raise the corporate rate to 28%. Yellen also called for coordination
with the OECD (a group of wealthy nations) to set a minimum corporate
rate to stop the "destructive, global race to the bottom."
Yellen is also willing
to consider reissuing 50-year Treasury bonds. She dismissed weakening
the US dollar. And she said she'd use the Treasury's arsenal to address
China's "abusive, unfair, and illegal practices.''
Looking ahead...Yellen is expected to receive quick confirmation, potentially this week.
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Giphy
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The high-tide of funding for electric automakers isn't going out just yet. Two big deals from yesterday:
- GM's
autonomous division, Cruise, announced a meet-the-parents-level
relationship with Microsoft, which—together with GM, Honda, and other
investors—poured $2 billion into Cruise, bumping its valuation to $30
billion.
- Electric
auto startup Rivian is valued at $27+ billion after a $2.7 billion round
from T. Rowe Price, Fidelity, and Amazon's Climate Pledge Fund. Rivian
will launch its first pickup and SUV this summer.
Picking up on some themes?
It's getting
harder to write about the auto industry without mentioning Big Tech.
Amazon was already a Rivian investor, Alphabet’s Waymo subsidiary has
begun self-driving commercial service in AZ, and Apple is working on an "Apple car" with Hyundai.
Hefty valuations for companies like Cruise that don't even have customers yet highlight how bullish investors are about the next era of transportation.
- For
comparison: Ford's market cap is ~$40 billion. Honda and Stellantis (aka
the recently merged Fiat Chrysler + PSA Group) are worth almost $50
billion.
Bottom line: Tesla's competition is getting big-money backup.
Want to know more? Subscribe to Emerging Tech Brew, which will go deeper into these investments in today's edition.
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What’s the most versatile (but under-appreciated) marketing tool that cuts through all the noise?
If you said, “Quizzes from Typeform,” consider us quiz-pressed.
Typeform’s quizzes take care of every touchpoint, from lead generation to product recommendations to (if you’re us) weekly news recaps.
So if you’re looking for some Q&As that can E&I (engage and intrigue) use Typeform to keep customers involved from the bottom of the funnel to the top.
Get your quool quizzes here.
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Francis Scialabba
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Yesterday, Office Depot's parent company ODP turned down
an acquisition offer from rival Staples for more than $2 billion, a
60%+ premium over ODP's average closing price in the 90 days leading up
to the offer.
The backstory:
stretches back to before "bitcoin" or "solo artist Beyoncé" meant
anything. Staples first tried to buy its office supply competitor in
1997, then again five years ago, when it was blocked by a federal judge
who cited concerns about limiting competition.
The nowstory: ODP Chairman Joseph Vassalluzzo said
similar competition concerns that might invite regulatory attention
made a tie-up untenable. He left the door open more than a crack,
though, adding that he'd be open to 1) a partial sale of ODP's retail
and consumer-facing e-comm operations or 2) a joint venture with its
retail segment.
- Staples argued that, given recent shifts in the retail sector that rhyme with Bamazon, competition isn't an issue anymore.
Looking ahead...Staples said that if it can’t reach an agreement, it’ll call up ODP shareholders to buy stock directly from them.
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LEON NEAL/AFP via Getty Images
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Yesterday, the London Metals Exchange (LME) kicked off
a consultation on potentially closing its famous "Ring," Europe's last
bastion of "open-outcry" trading. Yes, that's exactly what it sounds
like—in the Ring, traders swap metals via hand signals and yelling. The
NYSE and Chicago's Mercantile Exchange are among the remaining few that
practice it.
- Like most buildings in Europe, the Ring is even older than you'd anticipate at 144 years of age.
- Whatever the British
equivalent of "fratty" is, that's the Ring's rep. In 2019, the LME had
to institute a no-day-drinking rule and crack down on meetings at strip
clubs and casinos.
Zoom out: The LME plays a key role in the commodities market, and its prices are viewed as important benchmarks for metals.
But last
March, lockdowns forced the four words you're tired of reading—a shift
to digital. And LME leadership thinks it's gone well enough to consider
scrapping the famous Ring altogether.
Looking ahead...the LME hopes to make a final decision in April.
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Netflix
passed 200 million global subscribers last quarter and said it doesn't
need external financing to fund its operations. Its stock shot up 13%
after hours.
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Goldman Sachs's investment banking and stock trading units powered the Wall Street firm to its highest quarterly profits in more than 10 years.
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Alibaba cofounder Jack Ma made his first public appearance in months.
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Mike Lindell,
the CEO of MyPillow, said retailers including Kohl's had stopped
carrying the brand. Kohl's cited flagging sales, not Lindell's pushing
of election-related misinformation, for dropping MyPillow products.
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The US State Department
officially declared the Chinese repression of Uighur Muslims in the
Xinjiang region as "genocide." The US recently imposed a ban on
Xinjiang-made cotton and tomato products.
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Sea shanty PSA: Stop trying to make sense of them.
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We’re banking on 2021. You’re probably finalizing your resolutions for the new year, and if you’ve got investing on your list, Fundrise can help. They bring diversification to just about any portfolio with real estate assets that are uncorrelated to the stock market. Right now, you can invest with Fundrise for as little as $500. Make this the year you diversify your portfolio. Get started with Fundrise.
(Here's all the legal jargon we know you love reading.)
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The
inaugural address is a time-honored tradition of a president trying to
land a quote in a future history textbook as hundreds of thousands of
Americans freeze their butts off on the National Mall.
Can you identify which presidents said the following famous lines in their inaugural addresses?
- "We have called by different names brethren of the same principle. We are all Republicans, we are all Federalists."
- "Today we can declare:
Government is not the problem, and government is not the solution.
We—the American people—we are the solution."
- “Starting today, we must pick ourselves up, dust ourselves off, and begin again the work of remaking America.”
- "Old truths have been
relearned; untruths have been unlearned. We have always known that
heedless self-interest was bad morals; we know now that it is bad
economics."
- "With malice toward
none; with charity for all; with firmness in the right, as God gives us
to see the right, let us strive on to finish the work we are in; to bind
up the nation's wounds..."
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When you share the Brew with your network, you earn free swag like our classic Morning Brew t-shirt.
Are
you one of those people who is always going places? Then you probably
need a shirt. Might as well be this bad boy with the Morning Brew logo
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1. Thomas Jefferson
2. Ronald Reagan
3. Barack Obama
4. FDR
5. Abraham Lincoln
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| ADVERTISEMENT |
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January 20th, 2021
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In just a couple of hours President-elect Joe Biden and Vice President-elect Kamala Harris will each take the oath of office in an inauguration ceremony
like we’ve never seen before. The pandemic has forced changes to be
made, accomodating a much smaller crowd for the Inauguration Day events.
And amid fears of violence after the Capitol riot earlier this month,
more than 20,000 National Guard troops are in Washington to help with
security. Although much different, Biden is set to become the 46th
president of the United States. Here’s a step-by-step guide to how
Inauguration Day will unfold.
President Donald Trump
will not attend Biden’s inauguration. He is scheduled to leave
Washington Wednesday morning prior to the ceremony. It is the fourth
time in history an outgoing president will not attend his successor’s ceremony, according to reports. Vice President Mike Pence will attend.
The day’s timetable is more flexible than it has been for previous inaugurations. The main event is the inaugural ceremonies
where Biden and Harris will be sworn in. Biden will also deliver an
inaugural address. Following the ceremony, Biden, Harris, First Lady Dr.
Jill Biden and Second Gentleman Douglas Emhoff will participate in a
Pass in Review, which is a military tradition. It reflects a peaceful
transfer of power.
According to the Biden Inauguration website,
there will be a wreath-laying at Arlington Cemetery at the Tomb of the
Unknown Soldier. Former Presidents Barack Obama, George W. Bush and Bill
Clinton will join the Bidens, Harris and Emhoff, along with Former
First Ladies Michelle Obama, Laura Bush and Former Secretary of State
Hillary Clinton.
After the wreath laying there will be a presidential escort
from 15th Street to the White House, with each branch of the military
represented in the escort. This will be followed by a “Parade Across
America,” which will replace the traditional parade due to coronavirus
concerns.
This evening there will be a “Celebrating America” prime-time special. It will be hosted by Tom Hanks and feature remarks from Biden and Harris.
Resources for you:
11 ways kids can take part in the presidential inauguration
In case you missed it:
President Trump, in farewell address, says he will pray for Biden administration
Georgia certifies Democrats Warnock and Ossoff’s Senate wins
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| | US Army Soldier arrested for attempting to help ISIS ambush US troops, attack NYC 9/11 memorial | | An active-duty U.S. Army soldier has been charged with attempting to provide material support to ISIS and attempting to [...] | | | |
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| | | Georgia teen imprisoned in Cayman Islands for violating COVID quarantine released early | | Read More | | | | Man Charged For Living Inside O’Hare Airport for 3 Months | | Read More | | | | Capitol rioter who stole Pelosi’s laptop planned to sell it to Russian foreign intelligence service | | Read More | | | | | |
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