After hitting record levels in the Dow and the S&P, the market consolidated its gain, finishing the day even or slightly red. Ahead of the US Thanksgiving holiday, optimism over a relatively quick rollout of a coronavirus vaccine propelled the Dow Jones to above 30,000 points for the first time and the S&P to record highs. The tech-heavy Nasdaq, which has been beaten down recently as market participants rotate to cyclical and reopening stocks also posted a strong week. Countering the optimism is the reality that the coronavirus pandemic has been surging the last few weeks, raising the specter of further restrictions. As of Tuesday, there 88,080 patients hospitalized with the coronavirus pandemic Finally, after four painful weeks, the surge in coronavirus infections are showing early signs of improvement. The national weekly average for daily new infections is 172,118, according to data from Johns Hopkins University. While that is an all-time record, it only represents an 11% increase to last week. In the past four weeks, average daily new infections were posting a roughly 30-40% increase every week. The daily average deaths are more than 1,500, similar level to early May. Today was a slow day, in terms of news. With Thanksgiving coming up, markets are closed tomorrow and open only half-day Friday The political uncertainty in the United States is beginning to clear up. Weeks after Joe Biden was declared President-Elect, General Service Administration (GSA) head Emily Murphy acknowledged Biden’s win and approved the official transition process. The GSA is a government agency that works largely behind the scenes to support other federal entities, with responsibility for managing federal office space, procuring supplies and improving the use of technology across the government. The GSA provides a presidential transition team with Washington office space and coordinates access to federal agencies to plan potential policy changes with current administration officials, using $6.3 million allocated to support its efforts. This will finally allow Biden’s team to gain access to crucial information needed to effectively govern the nation. Mark Haefele, UBS Global chief investment officer, said, “We believe that the recent reduction in political uncertainty in the U.S., though far from complete, is another supportive factor behind the recent stock rally, Markets were also encouraged by Biden’s appointment of former Federal Reserve Chair Janet Yellen to Treasury Secretary. Yellen served as Fed Chair from 2014-2018, helping steer the historic bull market that followed the 2008 recession. Highlights Tesla (TSLA) is issuing two recalls covering about 9,500 vehicles for roof trim that may separate and bolts that may not have been properly tightened.A JPMorgan (JPM) unit was fined $250 million over historical failures to maintain adequate internal controls and internal audit over its fiduciary business "for several years," the U.S. Office of the Comptroller of the Currency said Tuesday.Psychos, check out Subversive Capital (SBVCF), the largest cannabis SPAC that just announced Jay-Z as Chief Visionary Officer. SPAC acquired both Caliva and Left Coast Ventures for $282.9 and $142.2 million. Deal set for Jan 2021.Amazon (AMZN) reported an outage tied to its enormous cloud-computing operation that affected many customers. ROKU said it was affected.Salesforce (CRM) in talks to buy Slack Technologies (WORK) though nothing certain yet.. Slack is up 30% on the rumorPure Storage (PSTG) with two target increases. Stock currently around $19.75.Keycorp from $20 to $23 OVERWEIGHTBarclays from $20 to $24 BUYJacobs Engineering (J) with multipl target raises. Stock around $108Benchmark at $120 BUYDA Davidson at $120 BUYCredit Suisse at $127 OUTPERFORMFMC price target increased by UBS Group from $127 to $135. Stock currently around $118.Dick's Sporting Goods (DKS) target raised by Barclays from $70 to $80 at OVERWEIGHT. Stock currently around $59Dell Technology (DELL) target raised by Raymond James from $69 to $85 at OUTPERFORMBurlington (BURL) with two targe raises. Stock currently around $225.Barclays at $267 OVERWEIGHTCredit Suisse at $255 OUTPERFORMAmeriprise Financial (AMP) with target raise from Credit Suisee from $194 to $227 at OUTPEFORM. Stock currently around $193.Autodesk (ADSK) with two target raises. Stock currently around $259.Barclays from $283 to $295 OUTPERFORMKeycorp from $270 to $310 OVERWEIGHT “It’s hard to beat a person who never gives up” - Babe Ruth Read More