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This is taking global stocks to a new all-time high

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Have a good Friday Bull Sheeters. It’s a risky day as investors try to extend the weeklong rally. Broad-based gains in technology, automobiles, and pharmaceuticals are bringing global stocks closer to an all-time high. US equities hit this milestone yesterday.

There’s a big salary report on the calendar today. Elsewhere, investors pay close attention to the pace of vaccinations and reward the countries that turn out to be the first leaders.

Let’s see where investors put their money.

Market update

Asia

  • The mayor Asia indices are mostly higher, with Japan Nikkei above 1.5%.
  • It is IPO day for TikTok rivals Kuaishouand investors have many reasons to publish celebratory video clips on the platform. The stock rose 200% at the opening in Hong Kong.
  • nickel-Rich Indonesia has courted Tesla to invest in the land for some time. According to CNBCThe EV maker is finally listening, a development of particular interest to those in the race for a cheaper, more plentiful raw material for electric batteries.

Europe

  • The European stock exchanges were humble out of the gates. The Stoxx Europe 600 was 0.3% higher outdoors.
  • Daimler Shares closed 2% on Thursday after the German automaker announced it Divide the company into two parts: the flagship Mercedes Benz Autodivision and Freightliner, the manufacturer of large rigs.
  • Regulators of Brussels to Beijing still have to log out of Nvidia Acquisition of $ 40 billion from Chip’s giant arm. Everything adds up one of the most studied deals in recent memory.

US.

  • The US futures point to another strong open. Yesterday did S&P 500 closed on one All time high The economic talks and the slightly improved data on unemployment claims lifted investor sentiment.
  • Ford’s shares have gone up 1% in pre-market trading according to the automaker said it will invest a combined $ 29 billion on EV and autonomous vehicles Unfortunately, a shortage of chips hurts the outlook for 2021.
  • In “Closing the Barn Door” messages: Well that GameStop has more than bombed 80% this week, and AMC Entertainment is over 50%, Robin Hood has canceled all Restrictions and Restrictions on Trading in Stocks. Get them, day traders!

Elsewhere

  • gold has had a terrible week. It deals below $ 1,800, Down 2.7% in the past seven days.
  • The dollar is flat but it was a Heckuva week.
  • Raw is higher with Brent Trade just below $ 60 / barrel.
  • Bitcoin is down 1.2% in Rome at 10 a.m. trading around $ 37,750.

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By the numbers

100,000

All eyes will be on today Job report in front of the bell. Economists estimate the US economy added 100,000 Jobs in January. As a reminder, the December report was brutal 140,000 Jobs lost in the month. Why is this report so important? Because as USB chief economist Paul Donovan emphasizes, the US labor market seems to be stalling. This is puzzling and frustrating given the amount of helicopter money Washington has poured into the economy over the past few quarters. One thing to note in today’s report: “Structural problems have an impact on unemployment,” begins Donovan. “The negative is that long-term unemployment is increasing in dying industries. On the upside, employment data may underestimate the business start-up boom. Quarantine can mean that workers can no longer work. Some sectors have reported labor shortages. This is likely to be reflected in overtime and earnings data. “In other words, don’t let the overall unemployment rate distract you. The bigger story is digging through the data to see which industries are growing and which are not.

$ 24 billion

Is the GameStop rally really over? The Diehards on WallStreetBets would tell you no way! They continue to advise their colleagues to hold the line. But the enthusiasm is waning. The stock crashed 42% yesterday to bring its market capitalization down $ 4 billion. A week ago, when the stock was trading above $ 400, it was most valuable inventory on the Russell 3000. That trade quickly broke up in a spectacularly damaging way. Investors have wiped off $ 24 billion of its market capitalization in just five trading sessions. I very much hope that YOLO traders have learned a lesson from this day trading adventure.

10 million +

Let’s pay tribute to our friends in the UK. The UK has given at least one dose of the COVID-19 vaccine to 10 million residents. and these are exciting investors. The pound sterling has risen and investors have moved into UK bonds as the country leads the major vaccination ranking. Success begs the question: should you invest in countries that do a good job of vaccinating the population, the ultimate recreational game? This is what a successful vaccination campaign looks like: Infections decrease with increasing vaccinations. This graphic was kindly provided by Berenberg Bank:

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Have a good weekend everyone … But first, there’s more news below.

Bernhard Warner
@BernhardWarner
Bernhard.Warner@Fortune.com

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