Markets Boosted

The lowest level of unemployment since March 2020 and the Republicans delaying their attempt to declare the US in violation of its debt ceiling today boosted the markets, as did some wild recommendations.

Goldman Sachs tipped NIO to rise 60%! This boosted the Chinese electric vehicle maker.

JP Morgan said Schlumberger Ltd could rise 20% which led SLB to gain 2.76%.

Royal Dutch Shell B will have its output cut by US Gulf hurricanes but it will gain from higher prices of oil and gas. Place your bets. RDS-B.

Plug Power (PLUG) recovered and at one point was up 5.2% but now is up 4.9%. There is no monopoly on rare earths.

Jefferies rated Alkermes a buy rather than a hold with a target price of $36. It rose 4.8%. ALK.

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Good news also helped stock prices.

Merck, which has been dissed a lot after it developed a pill to cut deaths and hospitalization from Covid-19, sold its oral antiviral to Singapore and is rumored to also been selling it to Australia. MRK.

Pfizer gained because its kiddie Covid-19 jab may get approved. PFE.

Moderna managed to escape the consequences of its jab being denied to young men in Nordic countries because of the risk of heart inflammation--but it will come. MRNA.

Bristol Myers Squibb reported that its phase II trial of its ulcerative colitis drug failed. BMY.

Compugen gained 1.7% in Israeli trading, CGEN.

Israeli TEVA rose 2.54% today and is firmly over $11/sh.

However Zymeworks, after rising on a trial starting, fell back .59% today. ZYME tends to be out of whack with the markets because it is practically in the Pacific Ocean.

Brazilian Cosan opted to join the US climate tech fund in order to win mandates from clean energy startup firms. CSAN.

Mexican Orbia Advance Corp will report on its latest quarter on Oct. 27 after the market closes and the stock rose 40% on this information. It still trades as MXCHF.

Nokia rose 2.55% after it did a deal for digitial operations with Lightstorm of India, in European trading. It is up only 2.17% in the US. This is roping in cheap Indian techies to develop networks as a service. Finns are expensive. NOK.

Ericsson rose 2.9% in sympathy. ERIC.

Banco Santander was a winner as interest rates rose, gaining 2.5% in European trading. SAN.

Tech was mixed. At one time IBM was the only big firm in the business down today, but it recouped.

Qualcomm rose 1.6%. QCOM.

Naspers and Prosus both rose 5.6%+ on hopes that Biden and Xi can come together. NPSNY, PROSY.

While the price of gold dropped along with several miners, our Kirkland Lake Gold, KL, a low-cost producer, gained 0.67%

Korea's Coupang gained another 2.51% today. CPNG.

Mercado Libre rose less convincingly but at least MELI is overcoming the panic over its Kaszek plan to distribute ownership to Latin American internet firms, and escaping the negatives of being Argentinian.

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William K. 2 years ago Member's comment

Really, it seems that it would make a lot of sense to allow ALL of the population, at least those who pay income taxes, to vote on the maximum allowable government debt, because ultimately that is who will pay it. (Although probably those caught when it must be payed are not born yet.) It does make sense to allow the public to see it(the debt) more clearly.

Who Knows? Possibly if more folks had a clear understanding of the size of that debt, there might be a push for a balanced budget. It has been balanced in the past, after all.

William K. 2 years ago Member's comment

Quite a collection of good news, and in a number of different areas. Certainly that represents a lot of research.

Thanks for some sunshine.