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World

US children will ‘hopefully’ get vaccines in late spring or early summer, says Fauci | US news

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Children in the US will “hopefully” start to be vaccinated against Covid-19 by late spring or early summer, Dr Anthony Fauci said on Friday.

Joe Biden’s chief medical adviser, the head of the National Institute for Allergies and Infectious Diseases, was speaking at a White House coronavirus briefing, an event reinstituted by the new president after falling away during the last months of the Trump administration.

“Hopefully by the time we get to the late spring and early summer we will have children being able to be vaccinated,” Fauci said.

Covid-19 vaccines are not yet approved for children. Supplies for adults and the logistics of providing shots are proving steep challenges for manufacturers, the administration and state governments. As of Thursday, only about 1.3% of Americans had received the required two doses of currently available vaccines.

But vaccination of children is a key step in the pursuit of widespread immunity to a virus that has infected nearly 26 million in the US and killed more than 433,000. For the US to reach “herd immunity”, or widespread resistance, about 70% to 85% of the population must be vaccinated. Children make up about 25% of the population.

“Children tend to not become as severely ill as adults [from Covid-19] but they can still become ill and some have tragically died,” Dr Leana Wen, a public health expert, told the Associated Press. “Children can also be vectors of transmission, and getting children vaccinated is important.”

The federal Food and Drug Administration has not yet approved vaccines for children, due to insufficient testing data. Fauci said data was being gathered through a process called “age de-escalation testing”. The Pfizer/BioNTech vaccine received emergency approval for use in people 16 and older. The next step, Fauci said, involves testing in children down to 12. If successful it will be followed by another round of testing, down to nine years old.

Since initial tests to validate the safety and effectiveness of the Pfizer and Moderna vaccines involved tens of thousands of people, age-related testing on children can be done using smaller groups.

“You don’t want to have to … go through an efficacy trial, where you’re involving tens of thousands of children,” said Fauci. “What you can do, is in a much smaller trial, measured in hundreds to a couple of thousands … what we call safety and … immunogenicity.”

That is a term for whether the vaccine successfully triggers an immune system response.

After a frustratingly slow start, the US is administering about 1m shots a day to adults, although the pace is still seen as insufficient. Biden’s administration has set a goal of 100m shots in its first 100 days and the president has talked about achieving 1.5m shots a day.

“We’re going to make sure everybody has enough,” Biden said on Friday, visiting veterans in hospital near Washington. “We’re going to get the supply up, nationwide.”

Two more vaccines from US companies are nearing FDA approval. One from Johnson & Johnson requires a single shot.

Biden has also set a goal of reopening most schools by the summer, and directed government agencies to work with communities to advance it.

His American Rescue Plan legislation in Congress calls for $50bn to finance a major expansion of testing, which is seen as necessary for the safe reopening of schools and businesses. Robust testing can detect outbreaks before they spread and trigger shutdowns. Under Donald Trump, testing in the US had a chaotic start. Experts say in many parts of the country it is still subpar.

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Business

Dow Jones Futures: Stock Market Rally Sells Off; GME Stock, AMC Tumble Late, Apple, Facebook, Tesla Report

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Dow Jones futures were little changed Thursday night while S&P 500 futures and Nasdaq futures fell modestly, as Apple stock, Tesla (TSLA) and Facebook (FB) headlined a huge earnings night. The stock market rally suffered significant losses Wednesday, with selling resuming after the latest Fed meeting. Leading stocks struggled once again.




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Meanwhile, GameStop (GME) more than doubled once again, while AMC Entertainment (AMC) quadrupled as Reddit-led investors continue to rush into GME stock and other heavily shorted tickers. Express (EXPR) and Koss Corp. (KOSS) also had triple-digit gains.

GME stock, AMC stock, EXPR stock and KOSS stock fell sharply overnight as the Wallstreetbets Reddit chat room briefly went privat.

Apple (AAPL), Facebook stock and Tesla reported earnings late Wednesday, along with ServiceNow (NOW) and chip-equipment maker Lam Research (LRCX).

Apple earnings, Facebook earnings, ServiceNow earnings and Lam Research earnings all topped views. Tesla earnings fell short.

In overnight trade, Apple stock fell modestly after closing in range above a buy point. LRCX stock was little changed. NOW stock rose in extended trade. FB stock and Tesla stock retreated.

Apple, ServiceNow and Tesla stock are on IBD Leaderboard. ServiceNow stock is on IBD Long-Term Leaders. LRCX stock and Teradyne are on the IBD 50, along with many other chip plays.

Dow Jones Futures Today

Dow Jones futures were about flat vs. fair value. S&P 500 futures fell 0.15%. Nasdaq 100 futures sank 0.3%. Apple stock weighed on all the major indexes, with Facebook and TSLA stock hitting the S&P 500 and Nasdaq.

Remember that overnight action in Dow futures and elsewhere doesn’t necessarily translate into actual trading in the next regular stock market session.

Join IBD experts as they analyze actionable stocks in the stock market rally on IBD Live.

Coronavirus News

Coronavirus cases worldwide reached 101.43 million. Covid-19 deaths topped 2.18 million.

Coronavirus cases in the U.S. have hit 26.16 million, with deaths above 439,000.

Stock Market Rally

U.S. Stock Market Today Overview
Index Symbol Price Gain/Loss % Change
Dow Jones (0DJIA) 30302.97 -634.07 -2.05
S&P 500 (0S&P5) 3750.95 -98.67 -2.56
Nasdaq (0NDQC ) 13270.60 -355.47 -2.61
Russell 2000 (IWM) 209.53 -3.77 -1.77
IBD 50 (FFTY) 43.63 -1.84 -4.05
Last Update: 4:04 PM ET 1/27/2021

The stock market rally suffered another retreat, with the major indexes down significantly, finishing close to their lows

Stocks rebounded from morning lows but resumed selling following the Fed meeting announcement. There was only a slight tweak in the Fed statement implying that coronavirus risk is less of a concern in the medium term as Covid cases fall and vaccinations pick up. Fed chief Jerome Powell largely sidestepped questions about whether asset prices are in a bubble, saying his focus is on restoring full employment.

The Dow Jones Industrial Average lost 2.05% in Wednesday’s stock market trading, closing just above its 50-day moving average after briefly undercutting that key level. The S&P 500 index sank 2.6%, knifing through its 21-day exponential moving average and moving close to its 50-day. The Nasdaq composite also sank 2.6%, but stopped short of its 21-day.

While squeeze plays such as GME stock and AMC stock kept soaring, traditional leading stocks had a tougher time.

Dow Jones giant Microsoft (MSFT) and AMD (AMD) reported strong quarterly results and raised guidance late Tuesday. But Microsoft stock erased a solid gain to close up 0.25%, just below a buy point. AMD stock tumbled 6.2%.

Among the best ETFs, the Innovator IBD 50 ETF (FFTY) retreated 4%, while the Innovator IBD Breakout Opportunities ETF (BOUT) lost 4.2%. The iShares Expanded Tech-Software Sector ETF (IGV) retreated 2.3%, with Microsoft and ServiceNow stock major holdings. The VanEck Vectors Semiconductor ETF (SMH) skidded 4.9%, with AMD and LRCX stocks key components.

Read The Big Picture every day to stay in sync with the market direction and leading stocks and sectors.

Apple Earnings

Apple earnings climbed 34% to $1.68 a share. Revenue rose 21% to 111.43 billion, on strong demand for iPhones, wearables and services. Wall Street had forecast Apple earnings per share of $1.41 on sales of $103.28 billion.

Apple once again declined to give guidance.

Apple stock sank 3% to 137.50 in extended trade. Shares dipped 0.6% to 142.06 in the regular session. Apple stock seems likely to test its 138.89 cup-with-handle buy point, according to MarketSmith analysis.

Tesla Earnings

Tesla earnings shot up 95% to 80 cents a share, weighed down by higher-than-expected stock compensation. Revenue grew 45% to $10.74 billion. Analysts expected Tesla earnings of 90 cents a share on sales of $10.13 billion, according to Zacks Investment Research. Many other estimates had Tesla earnings at just over $1 a share.

Regulatory credits revenue, which is expected to decline sharply, tripled to $401 million.

Gross margins excluding credits were 20.7%, far below views for 24.2%.

The average selling price for Tesla vehicles fell 11% vs. a year earlier amid price cuts. Tesla has continued to cut prices in Europe, while introducing a much-cheaper, shorter range Model Y in the U.S.

Tesla said it’s starting production of a newly revamped Model S and X this month with Model S Plaid deliveries starting in February. It also plans to launch its long-awaited Tesla Semi later this year. That suggests that the Tesla Cybertruck pickup will not launch in 2021. Elon Musk said on the conference call that Tesla would be lucky to make a few Cybertrucks by year-end.

Tesla touted continued big capacity growth, with the Berlin and Austin factories set to begin production sometime in 2021. It expects to grow deliveries 50% annually over time, but outpace that in 2021. That means more than 749,325 vehicles this year, vs. 499,500 in 2020.

But Tesla signaled Q1 will be weak. It blamed the Model S changeover, as well as a chip shortage that’s hitting much of the auto industry. Other data suggest weak U.S. orders to start 2021.

Tesla stock fell 5% overnight. Shares sank 2.1% to 864.16 on Wednesday. Arguably Tesla stock has been in a high-tight-flag pattern

Facebook Earnings

Facebook earnings jumped 52% to $3.88 a share, with revenue up 33% to $28.07 billion. Analysts expected Facebook earnings per share of $3.19 on revenue of $26.4 billion.

Facebook said it had 1.84 billion daily active users in Q4, and 2.8 billion monthly active users.

Facebook stock retreated 2%. FB stock dropped 3.5% to 272.14 on Wednesday, back to its 50-day line. Rebounding above Tuesday’s intraday high of 285.39 could offer a very early entry. The official buy point is 304.77.

ServiceNow Earnings

ServiceNow earnings rose 22% to $1.17 a share, with revenue up 31% to $1.25 billion. Analysts expected ServiceNow earnings of $1.05 on sales of $1.21 billion.

NOW stock rose almost 3% in extended trade. ServiceNow stock lost 3% to 516.50, to close below the 50-day line. A rebound above the 50-day line and last week’s high of 554.34 could offer an early entry. NOW stock is in a flat base with an official buy point of 566.84.

Lam Research Earnings

Lam Research earnings leapt 51% to $6.03 a share. Fiscal Q2 sales grew 34% to $3.46 billion. Wall Street predicted Lam Research earnings of $5.72 a share on $3.333 billion in revenue.

The chip-equipment giant guided higher for the current third quarter.

LRCX stock edged lower overnight. Lam Research stock tumbled 6.8% to 515.04 on Wednesday. LRCX stock retreated to the top of a prior short consolidation, closing just above the 10-week moving average.

GME Stock, AMC Stock

GME stock shot up 135% to 347.51. Melvin Capital and Citron Research said before Wednesday’s open that they closed their GME stock short positions, but the buying frenzy continued. GME stock is up 1,745% in 2021 so far.

AMC stock erupted for a 301% gain to 19.90. EXPR stock vaulted 214% and KOSS stock 480%.

Late Wednesday, the subreddit chat room Wallstreetbets, which has generated mass movements vs. short sellers in GME stock, AMC stock and more, briefly went private Wednesday evening.

Group-chat platform operator Discord banned r/WallStreetBets server. But Discord said it was over hate speech violations, not the GME short squeeze saga.

By 7:45 p.m. ET, the Wallstreetbets subreddit was open again, though the Gamestop forum was closed to new comments.

Overnight, GME stock lost 16% and KOSS stock 14%. AMC stock tumbled 27% and EXPR stock sank 24%.

The moves by GME stock, AMC stock and others are just incredible. A social media-driven short squeeze into a dying mall-based video game retailer and theater chain almost seems like a parody. The risks are extremely high trying to play these stocks — long or short.

Suffice to say that GME stock is not the type of name that CAN SLIM investors usually look at.

Stock Market Analysis

The stock market rally suffered its worst losses in weeks on the major indexes.

While short squeezes like GME stock and AMC stock kept defying gravity and just about everything else, leading stocks struggled once again. It’s possible that hot money is flooding into GME stock at the expense of traditional growth and leading stocks.

But whatever the reason, chips, software, genomics and cyclicals sold off. Many had losses of 5% or more. Some recent IPOs did well, such as Airbnb (ABNB) and Palantir (PLTR), but many others sold off or erased intraday gains.

Leading stocks under pressure is a bad sign for the stock market rally.

Thursday’s action could be another one-day pullback or the start of something more serious. The market reaction to the Apple, Tesla and Facebook earnings reports will be key.

If the Nasdaq rebounds quickly, how much upside would there be? The composite closed 4.8% above its 50-day line, down from 8.2% on Monday. That’s below the 6% level generally seen as extended, but it’s not far from being so.

The Nasdaq has had a few brief, relatively modest pullbacks in the past few weeks. Technically, that eases the pressure in the short run. But quick recoveries convince investors to become even more bullish and less fearful.

The CBOE Volatility Index did jump 38% on Wednesday to a two-month high.

What You Should Do Now

It may take a deeper, longer pullback or correction to drain the market of enthusiasm. That doesn’t have to happen for a while. But investors should be prepared for it.

The risk/reward ratio for being deep on margin is not nearly as strong as in the first several weeks of a new stock market rally. While you don’t need to be defensive, yet, investors should be more focused on preserving their big gains since April rather than trying to step on the gas. So have a game plan for your stocks. Which stocks do you really want to hold and which are expendable?

Also, an exit strategy doesn’t have to be a stampede. You might decide to sell one-third of XYZ stock if it does this, another third at this point, and closing out the position if this occurs.

One advantage of selling into strength or locking in partial gains is that it can give you the confidence to hold through shakeouts and pullbacks, and minimize your losses in a bigger market retreat.

Please follow Ed Carson on Twitter at @IBD_ECarson for stock market updates and more.

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Sports

It’s too late for Aaron Rodgers to downplay the fuse that he deliberately lit

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On Sunday, Packers quarterback Aaron Rodgers spontaneously gave all of sports media a multi-day talking point by spontaneously raising the vague question of whether he’d played his last game in a Packers uniform. On Tuesday, Rodgers tried to take it away.

It’s too late for that.

“A lot of guys futures that are, you know, uncertain, myself included,” Rodgers said, in response to a question that had nothing to do with his future. Rodgers later said that “[t]here’s a lot of unknowns going into this offseason,” without identifying any of the unknowns.

His comments prompted multiple seasoned reporters who cover the team to sense something ominous in Rodgers’ words. For example, Jason Wilde of ESPN Wisconsin, who knows Rodgers very well, said that Rodgers “sure sounded like a guy saying goodbye.”

In his regular Tuesday appearance on The Pat McAfee Show, Rodgers tried to bid farewell to any talk that he was saying goodbye.

“After the season that I had, potentially winning MVP, and we obviously made another good run, I don’t think that there’s any reason why I wouldn’t be back,” Rodgers said. “But there’s not many absolutes, as you guys know, in this business. To make an absolute statement about something that is not an absolute, I didn’t do it.”

But in his final press conference of the 2019 season, Rodgers strongly implied an absolute statement about his status for 2020 when he said this after a loss to the 49ers in the NFC Championship: “The window is open for us, and that’s the exciting thing. I think we’re gonna be on the right side of one of these real soon.”

The difference, of course, is that the Packers drafted quarterback Jordan Love in April, giving up a first-round pick and a fourth-round pick to get him. Entering the 2021 offseason after a stellar 2020, Rodgers has every right to want clarity regarding his future with the team given its deliberate decision to eschew an opportunity to add weapons when adding a quarterback.

Do the Packers envision one more year? Two more years? Three? Will Love eventually become the starter, or will he be traded away, like Jimmy Garoppolo was in New England, in the fourth season after he arrived as Tom Brady‘s potential replacement?

Rodgers wants a new contract. Intent on never incurring the wrath of Packers fans, he’ll act like he doesn’t. But he does. Because a new contract will give him the clarity he seeks. Alternative, the refusal to give him that contract will provide a different kind of clarity — and it will likely prompt Rodgers to begin making a plan for a future with a new team, possibly in 2021 but more likely in 2022.

Charles Robinson of Yahoo Sports, who confirmed that Rodgers wants a new contract during a Tuesday appearance on Peacock’s Brother From Another, made an excellent point regarding the dilemma created for reporters and analysts when Rodgers uses press conferences or other public settings to send messages. Any reporter who happens to notice the message and dares to articulate it ends up being lumped in by Rodgers into a bucket of clickbaiters and troublemakers who suddenly don’t know what they are talking about.

I’ve been there. During the 2016 season, Rodgers on multiple occasions raised concerns that traced directly to coach Mike McCarthy. Rodgers cited a “lack of juice” in a home loss to the Colts, explaining that the sideline lacked “the same kind of enthusiasm and encouragement.” After giving up 47 points in a loss to the Titans, Rodgers said, “There has to be that healthy fear as a player that if you don’t do your job they’ll get rid of you.”

Although Rodgers never tied those concerns back to McCarthy’s coaching of the team, I did. History proved that interpretation to be accurate. My reward, of course, was to have Rodgers complain at his locker about reporters who were interpreting his words as complaints about McCarthy.

“Especially guys like Mike Florio,” Rodgers said. “Don’t waste your time reading crap like that.”

Despite the fact that no good deed goes unpunished when it comes to Aaron Rodgers, I’ll say it again: He wants and deserves clarity regarding his future. He wants and deserves to know that he’s more than a year-to-year option. And if he finds out that he’s a year-to-year option (via a refusal to give him a new contract that cements the relationship through 2022 or 2023), that’s when he’ll want and deserve to start plotting his next move.

Then, when he sends unmistakable messages and reporters and analysts notice it and react to it, he can dust off Steve Urkel’s catch phrase and tell people not to waste their time reading or listening to crap like that.



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Entertainment

Eddie Van Halen’s son Wolf pays tribute to late rocker on what would’ve been his 66th birthday

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Wolf Van Halen penned a touching tribute to his late father, Eddie, to commemorate what would’ve been the rocker’s 66th birthday on Tuesday.

“Happy 66th Birthday, Pop,” Wolf prefaced the heartfelt tweet. “I wish I could give you the biggest hug and celebrate it with you. I love and miss you so much it hurts. I don’t even know how to put it into words.”

“I’ve been doing my best to hold it together, but g——-t it’s really tough being here without you,” Wolf, 29, continued.

Wolf then followed up with a second tweet that read, “Not a second has gone by where you haven’t been on my mind, and today will be no different.”

EDDIE VAN HALEN’S SON WOLF SHARES MOVING VIDEO OF THE LATE STAR SAYING HE’D ‘LOVE TO JAM’ WITH HIS DAD ‘AGAIN’

“Love and miss you beyond words, Pop ❤,” Wolf concluded.

The two tweets were accompanied by candid home videos from 1994. The first video features Eddie playfully capturing Wolf in his oversized t-shirt, while the second video features “Wolfie and daddy” hanging out on Christmas Eve.

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Eddie Van Halen, best known for his innovative tapping, virtuosic guitar technique and his impeccable shredding in Van Halen, died at the age of 65 in October.

Wolf Van Halen, left, penned a touching tribute to his late father, Eddie Van Halen, to commemorate what would’ve been the rocker’s 66th birthday on Tuesday. Eddie Van Halen died at the age of 65 in October.
(Ethan Miller/Getty Images)

Van Halen told Billboard magazine in 2015 that he had one-third of his tongue removed due to cancer that had also spread to his esophagus.

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“I used metal picks — they’re brass and copper — which I always held in my mouth, in the exact place where I got the tongue cancer,” he said at the time. “Plus, I basically live in a recording studio that’s filled with electromagnetic energy. So that’s one theory. I mean, I was smoking and doing a lot of drugs and a lot of everything. But at the same time, my lungs are totally clear. This is just my own theory, but the doctors say it’s possible.”



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Sports

Packers’ Matt LaFleur explains critical decision to kick late field goal instead of 4th down try

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Green Bay Packers coach Matt LaFleur was highly scrutinized after deciding to kick a field goal with just over 2 minutes to play in the NFC Championship against the Tampa Bay Buccaneers.

A touchdown and a two-point conversion would have tied the game. A field goal would have still forced the Packers to score a touchdown if they got the ball back. LaFleur chose the field-goal route from the Buccaneers’ eight and cut Tamp Bay’s lead to five points.

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On the surface, the Packers just need a defensive stop and they essentially had four timeouts since the 2-minute warning hadn’t gone off just yet. Green Bay never got that stop and it appeared LaFleur had taken the ball out of Aaron Rodgers’ hands with a risky move that didn’t pay off in the end.

LaFleur tried to explain the move after the game, according to the team’s website.

“I was looking at we essentially had four timeouts with the two-minute warning,” he said, adding that the prospect of a two-point conversion was a factor in his decision-making.

AARON RODGERS’ FUTURE WITH PACKERS SPECULATED AFTER LATEST NFC CHAMPIONSHIP LOSS

“Anytime something doesn’t work out, do you regret it? Sure.”

Rodgers also made clear it wasn’t his decision.

“That wasn’t my decision. I understand the thinking above two minutes with all our timeouts, but it wasn’t my decision,” Rodgers said.

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The Packers lost in the NFC Championship for the second consecutive season. Rodgers’ future as Green Bay’s quarterback is also murky even as he appears to be a shoo-in for MVP.

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Business

US Coronavirus: ‘Healthy, young’ Americans will likely get Covid-19 vaccine in mid- to late summer, expert says

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“The best way to prevent the emergence of new variants is to do all of the things we’ve been talking about for months,” infectious disease expert Dr. Celine Gounder told CNN Sunday night. “The more you let the virus spread, the more it mutates, the more variants you’ll have.”

But the US continues to add staggering numbers of cases daily and faces several major challenges when it comes to vaccines. States say they don’t have enough doses, and Centers for Disease Control and Prevention Director Dr. Rochelle Walensky said Sunday there’s a lack of information on supply.

“I would say one of the biggest problems right now is I can’t tell you how much vaccine we have,” Walensky told Fox News. “If I can’t tell it to you, then I can’t tell it to the governors and I can’t tell it to the state health officials.”

“If they don’t know how much vaccine they’re getting, not just this week but next week and the week after, they can’t plan.”

It likely will be months from now until the vaccine is widely available to the American public, Gounder, who is also a former member of the Biden transition Covid-19 advisory board, said.

“We’re looking at probably middle of the summer, end of the summer before the average, healthy, young American has access to vaccination,” Gounder told CNN Sunday.

Send us your questions for President Biden’s Covid-19 team

US should boost its vaccination goal, expert says

But while the rollout has been slower than many experts hoped, the director of the National Institutes of Health says it is now not as bad as some are making it out to be.

“We are now averaging almost a million doses per day going into arms, and that’s a pretty good trajectory to get to where President Biden wants to,” Dr. Francis Collins told MSNBC Saturday.

Biden has previously promised to administer 100 million shots in his first 100 days in office — a goal that has been criticized by some as too modest.

“We need to do better than a million shots per day,” Dr. Jonathan Reiner, professor of medicine at George Washington University told CNN Sunday.

Most of the shots being administered currently are first doses, Reiner explained.

“But as we go forward, more and more shots every day will be the second vaccination so the number of new vaccinations is going to start to drop until we get to a point in the not too distant future where every day the shots that are given are 50% follow-up and 50% new vaccinations.”

“We need to do better. We need to vaccinate about two million people a day. That should be the goal,” Reiner added.

Agencies scaling up surveillance of variant

Meanwhile, Walensky also said Sunday the CDC and other agencies were scaling up both surveillance and studies of the new variants so that “we can monitor these variants as well as monitor” the impact they may have on vaccines.

The variant called B.1.1.7 — first identified in the UK — has already been detected in more than 20 states and, according to the CDC, is more easily transmissible. Dr. Anthony Fauci said it’s possible it could also be more harmful.

“We need to assume now that what has been circulating dominantly in the UK does have a certain degree of increase in what we call virulence, namely the power of the virus to cause more damage including death,” Fauci told CBS Sunday.

Studies so far suggest vaccines will protect against the B.1.1.7 variant. But at least two studies have found another variant — first spotted in South Africa — could pose a problem for vaccines.

That variant has so far not been detected in the US, but “we need to expand greatly our genomic surveillance,” Fauci said.

“We know that it had not been at the level that we would have liked, but there’s a lot of movement right now at the CDC level, including some input from the NIH and other organizations, to dramatically increase the what we call genomic surveillance.”

‘We’ve got to be ready’ for more virus changes

For many experts, the variants are concerning but not surprising.

The larger lesson to be learned is that the virus is going to continue changing — and the US needs to be ready for that, Dr. Vivek Murthy, Biden’s nominee for US Surgeon General, told ABC Sunday.

“We’re in a race against these variants, the viruses interchange and it’s up to us to adapt and to make sure that we’re staying ahead,” he said.

Murthy said this means there must be much better surveillance so that variants can be identified when they arise, that public health measures must be doubled down on and that there should be greater investment in treatment strategies.

“Above all, this means we’ve got to invest a lot more in testing and in contact tracing, because there also are going to be essential,” Murthy added.

CNN’s Naomi Thomas and Lauren Mascarenhas contributed to this report.

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Business

Dow Jones Futures: Apple, AMD, Nvidia Lead But Stock Market Rally Warnings Grow Louder; Intel Headlines Earnings Movers Late

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Dow Jones futures tilted lower Thursday night, along with S&P 500 futures and Nasdaq futures. The Nasdaq again led the stock market rally to fresh highs, with tech giants Apple stock, Amazon.com (AMZN), Intel (INTC), Advanced Micro Devices (AMD) and Nvidia (NVDA) fueling the gains.




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But the tech-heavy Nasdaq composite is becoming increasingly extended, raising the risk of a pullback.

Key Earnings Late

Intel jumped the gun, reporting earnings just before the close. Intuitive Surgical (ISRG), IBM (IBM) and CSX (CSX) reported quarterly results late Thursday.

Intel earnings and sales beat views while the Dow Jones chip giant also guided higher for Q1. Incoming CEO Pat Gelsinger, who takes over on Feb. 15, committed to keeping the chip giant’s manufacturing business, despite calls from some investors to shed those assets. Intel stock fell 5% overnight. That was after soaring 6.5% to 62.46 on Thursday, with some of those gains coming in the last few minutes on the early earnings release. Intel stock has been running on the announcement Gelsinger, Intel’s former CTO, will become chief executive. But it’s still far from a buy point.

Intuitive Surgical earnings and revenue rose slightly, rebounding from declines in the prior two quarters. The maker of the da Vinci robotic surgical system gave preliminary revenue figures last week. ISRG stock fell slightly in extended trade after closing up 10 cents at 798.67. Intuitive Surgical stock looks set to dip back below a 792.64 buy point. It could try to find support at the 10-week line again as it builds a short consolidation on top of the prior base.

IBM earnings topped views, but sales missed, once again declining vs. a year earlier. IBM stock tumbled overnight after rising 1.2% to 131.65 on Thursday. The Dow tech giant has a 131.98 buy point in a bottoming base. But it’s still in a long-term downtrend, with weak fundamentals for years.

CSX earnings missed while revenue topped. CSX stock was little changed overnight after closing down 1.7% to 91.61, around its 50-day line. An early January breakout from a flat base quickly fizzled, though the 93.80 buy point is still valid, according to MarketSmith analysis.

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Tech Giants Eye Buy Points

As for other tech giants, Apple (AAPL) rose to just below a buy point. Amazon stock climbed toward possible early entries after regaining its 50-day line Wednesday. AMD stock moved back above key levels and within a prior buy zone. Nvidia stock rebounded from key support, but investors likely want to see a little more strength first.

But looming earnings — as well as the extended stock market rally — complicate buying any of those tech giants. Apple and AMD stock have earnings next week. Amazon is also next week. Nvidia isn’t due for a few weeks, but may move on AMD’s earnings and guidance.

Apple, AMD and Nvidia stock are on IBD Leaderboard. Apple stock is on SwingTrader. AMD stock and Nvidia are on the IBD 50.

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Dow Jones Futures Today

Dow Jones futures fell 0.2% vs. fair value, with Intel and IBM stock weighing on the blue-chip index. S&P 500 futures lost 0.15% while Nasdaq 100 futures retreated 0.2%.

Bitcoin continued to slide, falling below $30,000 Thursday night, down $10,000 from a week earlier and the all-time high of nearly $42,000 on Jan. 8.

Remember that overnight action in Dow futures and elsewhere doesn’t necessarily translate into actual trading in the next regular stock market session.

Join IBD experts as they analyze actionable stocks in the stock market rally on IBD Live.

Coronavirus News

Coronavirus cases worldwide reached 98.04 million. Covid-19 deaths topped 2.09 million.

Coronavirus cases in the U.S. have hit 25.18 million, with deaths above 419,000.

Newly reported U.S. Covid cases continue to trend lower, with hospitalizations and deaths also turning down.

U.S. coronavirus vaccinations hit 1.6 million on Wednesday as the pace continues to improve.

President Biden signed new executive orders to increase vaccine production and to impose mask mandates in airplanes and airports, as well as on federal property.

Stock Market Rally

U.S. Stock Market Today Overview
Index Symbol Price Gain/Loss % Change
Dow Jones (0DJIA) 31176.01 -12.37 -0.04
S&P 500 (0S&P5) 3853.07 +1.22 +0.03
Nasdaq (0NDQC ) 13530.92 +73.67 +0.55
Russell 2000 (IWM) 212.51 -1.88 -0.88
IBD 50 (FFTY) 46.12 +0.46 +1.01
Last Update: 4:24 PM ET 1/21/2021

The stock market rally continued to advance, once again led by tech giants.

The Dow Jones Industrial Average lost a fraction in Thursday’s stock market trading. The S&P 500 index edged higher. The Nasdaq composite climbed 0.55%. The Nasdaq 100, which includes Apple, Amazon, Intel, AMD and Nvidia stock, popped 0.8%.

Apple stock, a member of the Dow Jones, S&P 500 and Nasdaq composite, rose 3.7% to 136.87. That’s just below a 138.89 cup-with-handle entry. Apple earnings are on Jan. 27.

Amazon stock climbed 1.3% to 3,306.99, flirting with a trend line starting with the Sept. 2 peak. Investors also could use 3,350.75 as another early entry. Amazon earnings are due Feb. 2.

AMD stock rallied 3.1% to 91.53, back above its 50-day and 21-day lines and back above an 88.82 double-bottom buy point. Shares rose 2% overnight after initially falling following the Intel earnings report. AMD competes with Intel in PC microprocessors and data center chips. AMD earnings are due Jan. 26.

Nvidia advanced 3.75% to 554.70, above its 50-day. Several short-lived moves above the 50-day line have fizzled, so investors likely should wait until NVDA stock decisively clears at least the Jan. 11 high of 558.44 before starting a position.

Key ETFs

Growth stocks were mixed, with chips clearly leading.

Among the best ETFs, the Innovator IBD 50 ETF (FFTY) rose 1% to a fresh all-time high, while the Innovator IBD Breakout Opportunities ETF (BOUT) dipped 0.2%. The iShares Expanded Tech-Software Sector ETF (IGV) edged down 0.4%. The VanEck Vectors Semiconductor ETF (SMH) climbed 1.55%, with AMD, Nvidia and Intel stock all notable components.

IBD Stock Of The Day Hits Buy Zone, Building On Gains

Stock Market Rally Extended

The Nasdaq composite is now 8.1% above its 50-day moving average, picking up from Wednesday’s 7.8% and the highest since Sept. 2. (With Apple stock and other tech giants rallying, the big-cap Nasdaq 100 is now 7% above its 50-day.) Further, the Nasdaq is 4.1% above its 21-day exponential moving average, the most since just after the early November follow-through days.

When the Nasdaq is 6% or more above its 50-day line, that’s a yellow flag. The odds of a pullback are higher. The market doesn’t have to retreat right away, but the more extended it gets, the higher the risk of a significant pullback or correction.

In August, the Nasdaq was generally at least 6% above the 50-day, with Apple stock and Tesla (TSLA) leading a big-cap rally. As of Aug. 25, the index was more than 8% extended, but it kept going. It finally reached 11.6% above the 50-day line on Sept. 2. But on Sept. 3, the Nasdaq plunged 5%, wiping out all the gains after Aug. 25. By Sept. 8, the third day of the pullback, the Nasdaq had wiped out essentially all of August’s gains, closing slightly below the 50-day line. It’s a classic example of the stock market rising on a escalator, falling on an elevator.

Ideally, the stock market rally would move sideways or drift lower over several weeks. Last week the major indexes did retreat modestly, but only enough to bring the Nasdaq from extended to “almost extended.” A bigger pullback or longer sideways action would be helpful.

But, as always, the stock market rally is going to do what it’s going to do.

What Investors Should Do

With that in mind, what should investors be doing? Right now, the stock market rally is working. There’s no need to get defensive. Investors may want to consider selling some stocks into strength, taking some profits. You probably should be cautious about starting new positions and adding exposure, especially if you’re on margin. Breakouts that happen just before a market pullback are highly likely to run into trouble.

Most importantly, have a game plan if the stock market rally does reverse. Where will you take partial profits and which stocks are your core holdings? Then stick to those rules.

Read The Big Picture every day to stay in sync with the market direction and leading stocks and sectors.

Please follow Ed Carson on Twitter at @IBD_ECarson for stock market updates and more.

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Health

COVID-19 vaccines won’t be ‘in every pharmacy’ by late Feb., CDC director predicts

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The Biden administration is aiming to vaccinate 100 million people in 100 days, but the new director of the Centers for Disease Control and Prevention (CDC) warned that it won’t necessarily mean calling up the local pharmacy to schedule your COVID-19 shot in the coming weeks, as was once predicted by former Health and Human Services Secretary Alex Azar.

“You know as we talk with the manufacturers and we think about the supply and eligibility, we are going to as part of our plan put the vaccine in pharmacies,” Dr. Rochelle Walensky told TODAY on Thursday. “Will it be in every pharmacy in the country by that timeline I don’t think so. As I said early on I’m going to tell you the truth here – I don’t think late February we’re going to have vaccine in every pharmacy in this country.”

Walensky said that her team has been meeting daily for some time to discuss plans that include mobile units to get vaccines to rural areas of the country, setting up community distribution centers and ensuring that there are enough available vaccinators to meet the demand.

She had previously vowed that the Biden administration would work through manufacturing bottleneck issues including invoking the Defense Production Act to ramp up supply, but a number of states are already experiencing shortages forcing thousands of canceled appointments.

STATES REPORT COVID-19 VACCINE SHORTAGES AND CANCEL APPOINTMENTS

Other mishaps due to storage temperature issues or overestimating dosage needs have resulted in wasted supply. As of Wednesday morning, the CDC reported that nearly 36 million doses had been distributed, but only 16.5 million had been administered. Previously, health officials have said the gap could be due to a lack in state reporting mixed with other shortcomings on a local level.

In New York, Gov. Andrew Cuomo who has received flak for his state’s lagging rollout and his initial refusal to expand the distribution eligibility is now warning that the state will exhaust its supply by the end of the week.

“What’s clear now is we’ll be going from week to week, and you will see a constant pattern of basically running out, waiting for the next week’s allocation, and starting up again,” he said.

WHY DID AMAZON WAIT UNTIL BIDEN’S INAUGURATION TO HELP WITH VACCINE DISTRIBUTION?

New York City Mayor De Blasio said as many as 23,000 people had their appointments canceled due to supply shortages, and the New York Police Department suspended first-shot vaccinations for its officers.

Elsewhere, governors blamed the Trump administration for promising to release federal supply that had already been used after it advised states to expand distribution to include people ages 65 and older.

In Oregon, Gov. Kate Brown said distribution efforts would have to be scaled back as the state waits for additional supply. Her plan now includes a 12-week rollout to reach seniors over 65 to begin in February, and a dialed down effort for other groups. 

Walensky said the potential to have a third vaccine manufacturer come online would also help address supply issues, as is the hope with Johnson & Johnson.

CLICK HERE FOR COMPLETE CORONAVIRUS COVERAGE

“We said 100 million doses in the first 100 days and we’re going to stick to that plan,” Walensky said. “But I also want to be very cognizant of the fact that after 100 days there are still a lot of Americans who need vaccine. So we have our pedal to the metal to make sure we can get as much vaccine out there. As has been noted before we are hoping to have more data from another manufacturer from the J&J vaccine. The more vaccines we have out there that have FDA authorization the better shape we’ll be.”

 The Associated Press contributed to this report.



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