06Nov2020 Midday Update: Stocks Making The Biggest Moves Midday: Coty, Square, Roku, Uber, DOW Down 53 Points Midday, WTI Falls Further To 37.32, US Dollar Fractionally Weaker 92.23

Here is the current market situation from CNN Money

North and South American markets are mixed today. The Bovespa is up 4.67% while the IPC gains 0.75%. The S&P 500 is off 0.02%.

Colorado Takes Aim At Oil, Gas Well Flaring

Colorado energy regulators have voted for a curtailment of gas flaring at oil and gas production sites, limiting approved flaring to just a few circumstances, the Colorado Sun reports, noting that flaring is relatively rare in the state, compared with other states where it is routine. The rule will help mitigate climate change, ensure the safety of groundwater, and make sure soil resources are available to grow healthy crops and vegetation, the director of the Colorado Oil and Gas Conservation Commission, Julie Murphy, said in a statement as quoted

Elon Musks $250 Tesla Tequila Is Already Sold Out

Tesla introduced on Thursday Tesla Tequila, the latest merchandise Elon Musk has offered to his aficionados, and the US$250 a bottle tequila quickly sold out. After shorts and flamethrowers, Musk has now started selling tequila, fulfilling a promise from two years ago. In October 2018, Musk teased on Twitter that Teslaquila coming soon. Tesla Tequila is an exclusive, premium 100% de agave tequila aejo aged in French oak barrels, featuring a dry fruit and light vanilla nose with a balanced cinnamon pepper finish,

Shell To Shut Down Louisiana Refinery

Royal Dutch Shell will shut down its Convent refinery in Louisiana after failing to find a buyer for the facility, Bloomberg reports, citing a statement by the company. The move, due to be completed before the end of the month, is in line with Shells plans to reduce the number of refineries it operates from 14 to 6 over the next four years. The plans, in turn, are part of its strategy to shift away from its core business and into alternative energy. The supermajor will invest in a core set of uniquely integrated manufacturing sites

Trump Replaces FERC Chairman In Surprise Move

President Donald Trump surprised many this week with the removal of Neil Chatterjee from the post of chairman of the Federal Energy Regulatory Commission. Chatterjee was replaced by the other Republican sitting member of the commission, James Danly. Chatterjee’s term was set to expire in June 2021, Axios reported, noting the chairman of FERC had said he intended to remain at his post until then. However, his departure might have been hastened by a policy statement that FERC issued in October. The statement concerns carbon pricing policies and encourages

Oil Prices Slide As Election Uncertainty Remains

Oil prices dropped by nearly 2 percent early on Friday as the U.S. reported a second consecutive day of record coronavirus cases, while the counting in the presidential election continued. As of 9:17 a.m. ET on Friday, WTI Crude was down 1.93 percent at $38.00 and Brent Crude was down 1.78 percent at $40.17. As of 9:17 a.m. ET, Joe Biden had taken the lead in Georgia and Pennsylvania, but votes were still being counted in those two states, with Nevada and North Carolina not called either. Oil prices rose earlier this week and on Election Day on

The Oil Price Rally That Never Was

When the pandemic pummeled the oil industry in the spring, many called the situation unprecedented. Prices were falling because of oversupply, but demand was failing to react to lower prices because of the pandemic. Then Chinas lockdown ended, and the industry breathed a sigh of relief. Things were going to get back on track. But now lockdowns are being implemented once again and a return to normal seems as far away as it has ever been. The UK enters a month-long lockdown today. The country is nowhere near as essential for

Peloton says recent spike in Covid-19 cases, lockdowns are boosting sales

“The recent spikes in Covid cases and newly imposed lockdowns … have had a significant positive impact on sales,” Peloton CFO Jill Woodworth said.

Famed luxury carmaker Bentley to go fully electric by 2030

Bentley plans to exclusively offer plug-in hybrid and electric vehicles by 2026 and fully electric models by 2030, the British luxury carmaker said Thursday.

Peloton shares fall despite earnings beat as bike maker warns of ongoing supply constraints

Peloton raised its financial outlook for fiscal 2021, now expecting to report $3.9 billion or more in total revenue.

It won’t be a year without a Santa Claus, as malls turn to portable igloos and virtual visits to save the holiday tradition

Few kids will be sitting on Santa’s lap this holiday season, due to the precautionary measures that have been born out of the coronavirus pandemic.

GM plans to increase pickup truck production with up to $1 billion investment in Canada

The investment in the plant in Oshawa, Ontario, is part of a tentative deal with Canadian union Unifor.

Trump’s ex-FDA chief: ‘Win or lose’ the election, administration must do more to fight Covid

“It’s not too late,” Dr. Scott Gottlieb told CNBC on Friday. “I think the vice president can get more engaged in trying to lead a national strategy.”

Stocks making the biggest moves midday: Coty, Square, Roku, Uber & more

Check out the companies making headlines in midday trading.

Op-ed: I left my job as CEO for 21 days to make a movie. Here’s the Hollywood ending

Ravin Gandhi, CEO of a kitchenware company, followed his dream of making a movie. The film is now headed to streaming services like Apple TV, Amazon Prime.

Here’s where the jobs are ” in one chart

CNBC studied the net change in employment by industry for October based on data from the Labor Department.

The health-care rally is just beginning, two traders say

Quint Tatro and JC O’Hara say these health-care names are poised for even more gains.

In most years, hurricane activity would have wound down by now. Not in 2020

Hurricane Eta, forecast to redevelop and head toward Florida next week, is the 28th named storm of this season. Eta’s intensity is rare for a November storm.Â

WHO looking at how a Covid mutation among minks may affect a future vaccine

The detection of the mutated virus among minks has raised questions about the effectiveness of a future Covid-19 vaccine.

For doctors who think Trump fumbled the pandemic, the tight election is seen as an insult

Many front-line medical workers expected that the coronavirus would be a top priority for voters, and that Biden would win by a landslide.

GOP Analyst Raises $170K To Purchase Data, Conduct Deep Dive On Voter Fraud

GOP Analyst Raises $170K To Purchase Data, Conduct Deep Dive On Voter Fraud Tyler Durden Fri, 11/06/2020 – 12:25

GOP political analyst and former Trump Data Chief Matt Braynard believes he can detect voter fraud by comparing absentee ballots and early voters to the Social Security Death Index and the National Change of Address Database.

Illiquidity & Creative Destruction

Illiquidity & Creative Destruction Tyler Durden Fri, 11/06/2020 – 12:04

Authored by Louis-Vincent Gave via Evergreen Gavekal blog,

œLoading up companies with borrowing at a time of peak economic uncertainty allows private equity groups to de-risk their own exposure by taking cash out of the business. But the higher risk of defaults has consequences for stakeholders beyond the private equity owners.

” Financial Times, September 2020

INTRODUCTION

Winter came a few months early last week, as Snowflake (SNOW) had a highly successful Initial Public Offering, rising over 111% from its offering price in its first day of trading to a cool market cap of $67.4B. With eight rounds under its parka belt prior to last Wednesday’s IPO, the mountain-top ascent was a highpoint for a number of private investors, some of whom invested in the company as early as 2012. Of course, not all private investments turn out so successfully, but the rapid growth story underscores an important phenomenon that is the subject of this week’s newsletter from Louis-Vincent Gave: the willingness to trade liquidity for the potential of income or growth.

Trump Campaign Insists Race Is “Not Over” As Georgia Announces Recount

Trump Campaign Insists Race Is “Not Over” As Georgia Announces Recount Tyler Durden Fri, 11/06/2020 – 11:50

Update (1200ET): Here’s some more of the latest updates.

Biden has 264 electoral votes; Trump has 214, according to the AP and Bloomberg.

Pelosi Formally Launches Bid To Remain Speaker

Pelosi Formally Launches Bid To Remain Speaker Tyler Durden Fri, 11/06/2020 – 11:45

Nancy Pelosi (D-CA) has formally launched her bid to remain Speaker of the House for another two years.

Edinburgh Woollen Mill collapse puts jobs at risk

The clothing chain and its sister company, Ponden Home, have been placed into administration.

Retailers criticise lockdown rules on essential items

A leading retail lobby group says government guidance over what products are essential is arbitrary.

Self-employed people ‘are being left in the dark’

Newly self-employed people get no help from the government, despite the latest wage support package.

Stay positive. Goldilocks period ahead for market and economy

Given the trends seen in second quarter earnings, Q3 and Q4 results are expected to be stronger

Market Movers: RIL in fifth gear, banks upbeat; 154 stocks flash ‘buy’ signals

Shares of oil-to-retail behemoth RIL concluded the week on an upbeat note, after it received one more cheque for its retail unit, while benchmark Sensex rose 553 points to close at 41,893, and Nifty climbed 143 points to 12,264.

Should you pick active or passive fund? Hear it from an industry honcho

œThe biggest change in the US mutual fund industry is — it went from an industry where mutual funds were being sold to one where they are being bought. It is all about a shift in priority, Don Philips, Managing Director of Morningstar Inc, said at the Morningstar Investor Conference.

October 2020 BLS Jobs Situation – Employment Grew 638,000 But Still Down 8,394,000 Year-to-Date

Written by Steven Hansen

The headline seasonally adjusted BLS job growth continues to show a very good job gain and was near expectations, with the unemployment rate improving from 7.9 % to 6.9 %.

Market Snapshot: Dow slightly lower after jobs data as U.S. election count continues

U.S. stocks were modestly lower Friday, with equities threatening to end a torrid election week rally as investors digest October jobs data, monitor election results and weigh a surge in COVID-19 cases.

This 26-year-old blogger is on her way to financial independence and wants to show millennials and Gen Z how to do it

From $10,000 to $150,000 in four years: Why 20-somethings need to think about retirement

Election: Here’s what we know about the 5 states whose Electoral College votes haven’t been called

The U.S. presidential election is still too close to call. Here’s what we know about the remaining states that have yet to be called for either former Vice President Joe Biden or President Donald Trump, with vote tallies from the Associated Press.