19Oct2020 Midday Update: Global Coronavirus Cases Hit 40 Million As Second Wave Gathers Pace, DOW Down 73 Points At 1 ET, US Dollar Slipping 93.26, China’s Retail Sales Rose 3.3%

Here is the current market situation from CNN Money

North and South American markets are mixed. The Bovespa is higher by 1.35%, while the S&P 500 is leading the IPC lower. They are down 0.38% and 0.26% respectively.

IMF Sees Oil Prices At $40-50 Next Year

Oil prices are not expected to rise much next year, and will stay in the $40-50 a barrel range, putting additional pressure on the oil exporters in the Middle East, the International Monetary Fund (IMF) said on Monday in its update on the Regional Economic Outlook for the Middle East and Central Asia. Gross domestic product in the region is set to drop by 4.1 percent this year, a downward revision of 1.3 percentage points compared with IMFs forecast in April 2020. The economies in the oil exporters in the Middle East and North Africa are

Japan Set To Release Radioactive Fukushima Water Into The Sea

Japan will release a million tons of water used in the Fukushima nuclear power plant into the sea, the BBC has reported, citing Japanese media. The reports add that the water will be diluted to reduce its radioactivity levels. Even so, environmental groups and fishing industry organizations are against the release of the liquid into the sea, despite assurances from scientists that the risk of contamination is low. The water will first be diluted to reduce the concentration of radioactive material 40 times, according to some of the reports. The

ISIS Calls For Attacks On Saudi Oil Industry

The Islamic State has called on its members to start targeting Saudi Arabia oil infrastructure as punishment for the Kingdom warming up to Israel. Targets are plentyStart by hitting and destroying oil pipelines, factories, and facilities which are the source (of income) of the tyrant government, a spokesman for the terrorist group said in a recorded message cited by Reuters. Saudi Arabia opened its air space for flights between Israel and several neighbors in a historic move for the Middle East. According to the statement

The Most Exciting Energy Play I’ve Seen In Years

What happens when you get one of the most successful management teams in junior E&P history working in the most high margin oil and gas plays in the world just as they are starting out Ill tell you. You get the best ground-floor oil and gas stock Ive seen in five years.Its a simple, easy-to-understand story with a management team who have made early stage shareholders rich in the past.Ron Pantin is the Executive Chairman ofNGX Energy Intl Corp(TSX.V:GASX,OTC:PENYF)which has assembled

Judge Rules In Favor Of PDVSA In Citgo Bond Dispute

A U.S. judge ruled that bonds issued by Venezuelas PDVSA were valid and enforceable, putting a spoke in the wheels of Venezuelan opposition plans to take control of the state energy companys most prized asset: U.S. refiner Citgo. According to a Reuters report citing court documents, the ruling came in response to a lawsuit filed against PDVSA by the opposition led by Juan Guaido last year. The lawsuit claimed the bonds were absolutely fraudulent and were issued without first getting the approval of Venezuelas

Oil Prices Fall As OPEC+ Discusses Demand Developments

Oil prices were slightly down early on Monday as an OPEC+ panel is meeting virtually to discuss the latest supply and demand developments, while underwhelming economic data from China and stricter measures to fight COVID-19 in Europe weighed on oil market sentiment. As of 08:32 a.m. EDT on Monday, WTI Crude was down 0.20 percent at $40.78 and Brent Crude traded down 0.26 percent on the day at $42.81. Prices held relatively steady in the morning as investors await the outcome of the monthly meeting of the Joint Ministerial Monitoring Committee (JMMC)

Coronavirus hospitalizations are growing in 37 states as Fauci warns the world not ‘on the road’ to ending pandemic yet

Covid hospitalizations, like the so-called positivity rate and deaths, are a key measure because they help scientists gauge the pandemic’s severity.

Buyers traveling across the country, paying record prices for used pickups

Factory shutdowns, which weighed on new vehicle production, and an increased desire to own a vehicle are helping to drive demand for pickups.

Target to pay more than $70 million in bonuses to hourly employees ahead of holidays

Target said Monday that it will spend more than $70 million on another round of employee bonuses during the coronavirus pandemic.

AMC CEO says reopening New York theaters is ‘a monumental step forward’ for battered industry

Movie theaters, thrashed by the pandemic, received some hope after New York Gov. Andrew Cuomo announced they could start to reopen on Oct. 23.

CVS to hire thousands of pharmacy techs as it prepares for more Covid-19 cases, rollout of vaccine

More than 10,000 of the new hires will be full-time and part-time pharmacy technicians who can help dispense medications and administer Covid-19 tests.

Dr. Scott Gottlieb: U.S. is in the 7th inning of the pandemic but the ‘hardest part’ is likely ahead

Rising Covid-19 cases across the nation indicate the U.S. is “entering a pretty difficult period,” the former FDA chief said.

Global coronavirus cases hit 40 million as second wave gathers pace

The grim milestone of 40,050,902 confirmed cases on Monday.

Airline shares jump after TSA screenings topped 1 million, a 7-month high

U.S. airline stocks rose sharply on Monday after airport screenings topped 1 million in a single day.

Here’s why Powerball and Mega Millions jackpots aren’t reaching giant amounts anymore

While the games’ current jackpots of $86 million and $91 million would be life-changing amounts for most people, they pale in comparison to some prizes claimed in the past ” including two worth more than $1.5 billion.

Watch live: The World Health Organization holds a press briefing on the coronavirus after global cases top 40 million

WHO is holding a briefing on the Covid-19 pandemic.

Bringing the outside into the office: Coronavirus bolsters push towards healthier building design

The coronavirus pandemic has bolstered corporate interest in redesigning work space to simulate nature, have better air filtration systems and use more sustainable materials, according to some office designers.

Stocks making the biggest moves midday: American Airlines, Halliburton, RH, AMC & more

AMC shares pop on hope that New York movie theaters could open later this week. American Airlines gets a boost as 737 Max comes back.

U.S. is staring down a ‘substantial third wave’ of coronavirus cases. Here are the numbers

With the coronavirus widely circulating in the U.S., experts warn the country could be in for a “substantial third wave.”

Trump Slams “Idiot” Dr. Fauci: “Every Time He Goes On TV It’s A Bomb…But There’s A Bigger Bomb If You Fire Him”

Trump Slams “Idiot” Dr. Fauci: “Every Time He Goes On TV It’s A Bomb…But There’s A Bigger Bomb If You Fire Him” Tyler Durden Mon, 10/19/2020 – 12:26

During a conference call with campaign staff that White House reporters were bizarrely allowed to listen in on, President Trump complained that “there’s a bomb” every time Dr. Anthony Fauci goes on television, which is most days.

New Data Analysis Finds 353 Counties With 1.8 Million More Registered Voters Than Residents

New Data Analysis Finds 353 Counties With 1.8 Million More Registered Voters Than Residents Tyler Durden Mon, 10/19/2020 – 12:10

Authored by Mark Tapscott via The Epoch Times,

A total of 353 counties in 29 U.S. states have 1.8 million more registered voters than eligible voting-age citizens, according to an analysis by Judicial Watch.

New York’s Botched Ballot Mailing, Primary Debacle Rattle Voter Confidence

New York’s Botched Ballot Mailing, Primary Debacle Rattle Voter Confidence Tyler Durden Mon, 10/19/2020 – 11:50

Confidence in the November election has further eroded after approximately 100,000 New York ballots were sent out with the wrong names – which voters can’t sign, according to Bloomberg.

Platts: 6 Commodity Charts To Watch This Week

Platts: 6 Commodity Charts To Watch This Week Tyler Durden Mon, 10/19/2020 – 11:35

Via S&P Global Platts Insight blog,

Libyan oil flows have resumed but their stability remains uncertain, while India’s coal powered generation has dipped, granting gains to renewables. S&P Global Platts editors and analysts also discuss the latest Chinese actions on coal imports, Norwegian gas flows to Europe, and separate challenges faced by power markets in the UK and California.

1. Libya’s fragile oil return complicates market outlook

Coronavirus: Shapps ‘very hopeful’ of airport testing by early December

UK transport secretary aims for a new air traveller testing regime, but BA’s boss is sceptical.

Geek Retreat: Retailer of ‘all things geeky’ to open 100 new shops

Games and entertainment retailer Geek Retreat says loyal customers helped it thrive in lockdown.

Flybe set to fly again after brand is rescued

The deal could see the regional carrier restart operations as soon as next year.

Banks slowly reviving bad loan sales to ARCs, Rs 20k cr put on block in H1

Industry data accessed by ET show that banks have identified bad loans worth Rs 19,947 crore to be sold during the first half of the current fiscal.

Equitas Small Finance Bank IPO opens tomorrow. Should you subscribe?

‹There were concerns that Equitas Small Finance Bank IPO may not lead to robust listing gains.

Festive season springs hope for Avenue Supermarts amid challenging times

While a robust liquidity situation and resilient business model will keep the stock’s downside, the upside, too, seems to be capped in the near term given the slow business momentum.

: Are you older and worried about rising health care costs? You’re not alone

Older Americans are worried about health care expenses.

: This billionaire had to knock millions off his Singapore luxury penthouse to sell it

Vacuum-cleaner tycoon James Dyson is selling his Singapore penthouse for a reported $46 million.

: Manchester’s lockdown rebellion puts Boris Johnson in a tight spot

Several members of Parliament from Prime Minister Boris Johnson’s ruling Conservative Party have joined the rising opposition to stricter COVID-19 measures.