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PoloMimi Female ID: 102530198
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    Stock rebound to extend in Asia; Treasuries drop
    Asian stocks are set to open higher after technology shares led U.S. equities to their biggest rally in nine months as traders bet the omicron Covid variant won't stall the global recovery. Treasuries extended declines.
    Futures pointed higher in Japan, Australia and Hong Kong. The $S&P 500 Index(.SPX.US)$ chalked the biggest gain since March to erase all the losses suffered after Jerome Powell's hawkish tilt a week ago. Gauges of volatility retreated, with the Cboe Volatility Index sliding.
    Pfizer shot offers partial Omicron shield
    In the first reported experiments gauging the effectiveness of Covid-19 vaccines against the worrisome new strain, researchers at the institute found that the variant could partially evade the vaccine produced by $Pfizer(PFE.US)$ and $BioNTech(BNTX.US)$. Still, its evasion wasn't complete and a booster shot could provide additional protection.
    AmEx sees holiday spending soaring as Omicron fails to bite
    $American Express(AXP.US)$ said the omicron variant has yet to put a damper on holiday shopping.
    Consumer retail spending on the firm's cards so far this quarter -- AmEx's best proxy for holiday results -- has soared 30% compared to pre-pandemic levels, CFO Jeff Campbell told investors at a conference Tuesday.
    Tesla rebounds from selloff, leading EV stocks higher
    $Tesla(TSLA.US)$, which lost 6.2% last week and extended its decline Monday to briefly fall over 20% from its early November high, helped lift sentiment for other EV producers. UBS Group AG boosted its price target to $1,000 from $725 and said the company is "cementing" its leadership as the electric-vehicle market takes off. Tesla shares rose 4.2% to about $1,052.
    MEME ETF is launching as day-trader bets slump
    Roundhill Investments is pushing on with plans to list the $ROUNDHILL MEME ETF(MEME.US)$ on Wednesday, according to the firm's Chief Executive Officer Will Hershey.
    The product is set to track the Solactive Roundhill Meme Stock Index -- which screens companies based on social-media activity and short interest to create a portfolio of 25 retail-friendly equities.
    Amazon Web Services outage brings some delivery operations to a standstill
    $Amazon(AMZN.US)$'s cloud computing unit on Tuesday was hit with an outage that took down some websites and services. A notice on AWS' status page confirmed it was experiencing issues in the "US-East-1 Region."
    The outage brought down popular services like Disney+, $Netflix(NFLX.US)$ and $Coinbase(COIN.US)$, along with critical internal tools at Amazon like its Flex and AtoZ apps used by warehouse and delivery workers.
    Elon Musk says 'civilization is going to crumble' if people dont have more children
    The tech billionaire said low and rapidly declining birth rates are "one of the biggest risks to civilization." His comments come as a growing number of people are deciding not to have children, citing concerns such as climate change and inequality.
    Musk added that too many "good, smart people" think there are too many people in the world and that the population is growing out of control.
    Intel plans to take self-driving car unit public in the U.S. in mid-2022
    $Intel(INTC.US)$ has announced that it plans to list Mobileye, the Israeli autonomous driving firm it acquired for $15.3 billion in 2017, as part of an effort to branch out into new markets.
    Source: Bloomberg, CNBC
    Wall Street Today | AWS outage brought down services like Disney+ and Coinbase
    7
    By Danilo
    Hey, mooers! Here are things you need to know before the opening bell:
    - Stock futures nudged lower in early trading Friday ahead of the November jobs report as the market nears the end of a roller-coaster week driven by Covid omicron variant developments.
    - Elon Musk has now unloaded more than $10 billion in Tesla stock as the billionaire's share-selling spree involving his holdings in the electric-vehicle maker stretched into a second month.
    Market Snapshot
    Stock futures nudged lower in early trading Friday ahead of the November jobs report as the market nears the end of a roller-coaster week driven by Covid omicron variant developments.
    Futures on the $Dow Jones Industrial Average(.DJI.US)$ fell 105 points. $S&P 500 Index(.SPX.US)$ futures dipped 0.3% and $NASDAQ 100 Index(.NDX.US)$ futures edged 0.4% lower.
    Market Temperature
    Read more: Market Temperature (12/3)
    Top News
    Oil rises, stock futures waver as markets cap volatile week
    U.S. stock futures wobbled, while oil prices continued to rise after OPEC and a group of Russia-led oil producers agreed to continue pumping more crude.
    Fed's Bostic wants to accelerate pace of bond buying taper
    Federal Reserve Bank of Atlanta President Raphael Bostic said Thursday he would like to get the central bank in position to raise its short-term interest rate target next year if inflation pressures don't retreat from currently high levels.
    Senate approves spending bill averting government shutdown
    A fight over vaccine rules threatened to slow progress on the legislation, which extends government funding through Feb. 18. The bill now goes to President Biden.
    U.S. to tighten rules for travelers over Omicron concerns
    President Biden announced plans to tighten up Covid-19 testing timelines for travelers entering the U.S. and extend a mask mandate on airplanes and other public transportation as part of a broad administration effort to combat the Omicron variant.
    Musk's Tesla share-selling spree tops $10 billion
    Elon Musk has now unloaded more than $10 billion in Tesla stock as the billionaire's share-selling spree involving his holdings in the electric-vehicle maker stretched into a second month. $Tesla(TSLA.US)$
    Didi to delist from U.S., seek shift to Hong Kong
    Didi Global plans to delist its shares in the U.S. and pursue a listing in Hong Kong, a dramatic reversal just months after the Chinese ride-hailing group's ill-fated initial public offering in New York. $DiDi Global (Delisted)(DIDI.US)$
    FTC challenges Nvidia's deal for Arm Holdings
    The Federal Trade Commission sues to block the U.S. chip supplier's proposed takeover of the chip-design specialist, arguing the deal is anticompetitive. $NVIDIA(NVDA.US)$
    Read More
    Most active stock options for Dec. 3: November jobs report incoming
    In One Chart | 'It's a Trump Day' as stocks tied to ex-president stage a rally
    Snowflake breaks out of post-IPO funk, doubles gain for 2021
    What sectors are investors buying in?
    Check out what whales are doing for Dec. 3: Snowflake stock soars on strong earnings
    Key Events This Week
    Source: CNBC, Dow Jones Newswires, Bloomberg
    Before the Bell | Musk's Tesla share-selling spree tops $10 billion
    Before the Bell | Musk's Tesla share-selling spree tops $10 billion
    Before the Bell | Musk's Tesla share-selling spree tops $10 billion
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    $Rivian Automotive(RIVN.US)$made its public debut on Wednesday. The highly anticipated EV stock traded higher by nearly 30%, closing the day valued above many traditional automakers. WowWowWow
    Today shares of the company are trading 18% higher and according to Loup Funds' Gene Munster, Rivian's valuation may be even more lofty than Tesla's. SurpriseSurpriseSurprise
    I think Rivian's valuation is a full standard deviation outside of aggressive."
    —— Munster said Thursday on CNBC's "Squawk Box."
    Munster told CNBC the average sale price of a Rivian vehicle is about $80,000, which is similar to Tesla's Model S and X. ChuckleChuckleChuckle
    Tesla delivers about 70,000 of these vehicles per year, according to Munster. Rivian is expected to deliver about 1,000 vehicles this year, but if one assumes the company is able to deliver 70,000 vehicles in 2023, "that means that the valuation per vehicle delivery in 2023 is $1.3 million," he said. EmmEmmEmm
    Based on 2023 delivery expectations, Tesla is valued around $500,000 per vehicle delivery, Munster said. FlushedFlushedFlushed
    EVs are ultimately computers on wheels, so Munster considers Tesla and Rivian to be tech companies, he said. "So when I think about Tesla and think about the long term, my opinion is this can be a $2,500 stock." Munster said he sees an important difference between Tesla and Rivian: Tesla didn't increase its growth rate to 50% until it started selling lower priced vehicles. SlySlySly
    Mooers, do you think Rivian's market cap will surpass Tesla's in the future? TrickTrickTrick
    Rivian's valuation may be even more lofty than Tesla's?
    16
    Stock futures moved slightly higher on Thursday evening as Wall Street looked to end the week on a positive note after a historic inflation report.
    Futures contracts tied to the Dow Jones Industrial Average ticked up 51 points. Those for the S&P 500 and Nasdaq 100 added roughly 0.2% and 0.3%, respectively.
    $Freeport-McMoRan(FCX.US)$$Tapestry(TPR.US)$$Enphase Energy(ENPH.US)$$Disney(DIS.US)$$Cooper Companies(COO.US)$
    S&P 500 Movers for Thursday (11/11)
    $Tesla(TSLA.US)$ slips more than 6% on Tuesday. SurpriseSurpriseSurprise
    Michael Burry suggested Elon Musk might want to sell some Tesla stock to cover his personal debts. EmmEmmEmm
    Burry also made a subtle comparison between today's market and the Dutch tulip bubble. Thinking FaceThinking FaceThinking Face
    Musk recently offered to sell $6 billion worth of Tesla stock if UN bosses could explain to him how the sum would solve world hunger. The Tesla CEO also launched a Twitter poll asking whether he should sell 10% of his holdings, citing pressure from US lawmakers who are pushing for a "billionaire tax" that would target the ultra-wealthy's unrealized stock gains.
    Burry's tweet implies those might just be excuses. The investor of "The Big Short" fame and head of Scion Asset Management posted a link to a SEC filing in August, which noted that Musk has pledged about 88 million shares, or 36% of his total stake, as collateral for personal loans as of June 30. Thinking FaceThinking FaceThinking Face
    Click here to read more
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