Jobless numbers topped 286,000 which led to a bear call, later defeated. Today oil and gas inventories were seen as higher than expected while potential prices fell, both bullish. A short squeeze on energy stocks boosted the price of precious metals with platinum and silver up more than gold, however. Hopes for virus cures boosted insurance and airline stocks. China lowered interest rates to boost the sagging economy thereafter Q4 gains were half earlier 2021 levels. This saw Asia markets rise.

Photo by Annie Spratt on Unsplash

*After its Activision Blizzard ATVI deal Microsoft MSFT rose despite a negative call by Citi which chopped its target price by 8%.

*Canadian Nutrien was called a potential takeover candidate for Broken Hill of Australia after its CEO exited. NTR. 

Drug dealers

*NovoCure (NVCR) had the highest gain in nearly a year after a Truist Securities analyst upgraded the stock to buy from hold over its cancer treatments, 12.78%. It later fell back to 11.62% in gains, still impressive. It was tipped earlier by Wells Fargo.

*Pfizer's Paxlovid was named the best first option for drug treatment of covid 19 by the UK National Health Service. PFE also gained because its pediatric growth hormone drug developed with OPKO was approved for children failing to grow in Japan.

 *GlaxoSmithKline fell after its failure to do a deal earlier this week with Unilever for its over-the-counter meds. GSK.

*Israeli Compugen gained 6.03% today at the opening and is still ahead over 5.5%. No news I can find. CGEN.

*Naspers gained 7% on China's cheap money. It is South African but is a proxy for Hong Kong-listed drug shares. NPSNY.

*Bioline RX gained 1.5% today. It is fragile because its main drug is believed not to work. But it has others. BLRX.

*Asea Brown Boveri rose 1.56%, ABB of Switzerland.

*Eli Lilly, LLY, will report on Q4 and last year Feb. 3.

Energy and Users

*Schlumberger Ltd reports on its Q4 and 2021 tomorrow. It is expected to have earned 34 cents/sh and rose 2.51% on the hope. SLB.

*Plug Power rose 10.25% as the bear attack failed. PLUG.

*Value Line supports Thermo Fisher Scientific TMO which we own. The TP has risen to $5.23 from $5.06. 

*UUUU, Energy Fuels, sold uranium holdings to unlisted Consolidated Labrador, CURUF, to focus on rare earths. It gained 1.2%.

*NIO gained on hope for cheaper money in China which should boost car sales. It opened up 6.35% but fell later.  

*E.On rose 1.5% after it took over delivery from local players priced out of the UK market by higher energy prices they could not pass on to their clients. Will EONGY be able to raise prices? I have no idea. It rose 1.5%.

Funds 

*Brookfield took over the unlisted Austria Office REIT in Germany after gaining 71% of the shares out, it reported to the SEC.

*State Street was upgraded to buy from hold. STT.

*Templeton Emerging Income Fund, TEI, was upgraded to equal weight from bearish. 

*CBOE is up 1.3% today. It trades options on US and foreign stocks.

*Mercado Libre MELI is up 7.9% on hopes for Latin America.

*Cosan rose 2.5%. CSAN.

*AIG gained 5.7% on China hopes in Hong Kong trading.