Written by Gary
DOW futures sag ahead of big week for tech earnings (SPY +0.1%). Bankruptcy is off the table for AMC after raising more than $900 million.
Here is the current market situation from CNN Money | |
 | European markets are broadly lower today with shares in Germany off the most. The DAX is down 1.74% while London’s FTSE 100 is off 1.14% and France’s CAC 40 is lower by 0.56%. |
What Is Moving the Markets
| Here are the headlines moving the markets. | |
 | Oil Majors Poised To Make Biggest Geothermal Investments In 30 YearsThe green energy revolution is well and truly underway. Renewables have proven to be highly resilient, emerging as the only energy sector to record any kind of growth at a time when the traditional energy sector is going through its worst existential crisis. Indeed, the latest report by clean energy watchdog Bloomberg New Energy Finance (BNEF) reveals that a broad measure of global energy transition investments in 2020 clocked in at a record $501.3 billion, good for 9% Y/Y growth. The firm’s analysis shows that both public and private investments |
| Biden’s Green Energy Boom Could Send These Electric Vehicle Stocks SoaringElon Musk is now the richest person in the world–richer than Bezos. And Tesla (NASDAQ:TSLA) has gained over 700% in a year, while Chinese Nio (NYSE:NIO) has soared over 1,300% Anyone who didnt get in on those before they were hot shots missed the really big upside and even diehard Tesla bulls cant grasp that sky-high valuation … And there are other EV and EV-related stocks that are just growing their legs and have tons of room to run. They havent started pinging Wall Streets radar–yet, but |
| Goldman Sachs: Bidens Federal Land Drilling Ban Is Bullish For OilOil stocks tumbled following yesterday’s one-two punch of Biden energy news, when first we learned that the Interior Department enacted a 60-day moratorium on issuing oil and gas leases that affects all federal lands, minerals, and waters, which was followed by news that Biden was set to fully suspend the sale of oil and gas leases on federal land, which accounts for about a tenth of U.S. supplies. Yet while E&P companies sold off sharply on the news, one can argue that the decision wasn’t exactly a surprise for the drillers themselves, because |
| How Hydrogen Could Power The Ultimate BatteryHydrogen as a fuel of the future is the talk of the town in energy markets. Pros and cons of green versus blue hydrogen, capacity building plans, new production technologies, you name it, researchers are working on it. Hydrogen can be used as a fuel in fuel cell vehiclesstill very expensiveand for heatingblended with natural gas. One other thing it can be used for is renewable energy storage. Earlier this week, the Sydney Morning Herald reported on a company, LAVO, that had developed what is essentially a hydrogen battery that |
| Egypt Looks To Resume LNG Exports As Prices RiseEgypts 2015 discovery of the supergiant Zohr gas field was supposed to propel the North African country into the Eastern Mediterranean limelight. Within less than 3 years Egypt shed its historical legacy of being a net importer, rekindled its hopes of finally using its existing (and vastly underutilized) LNG infrastructure to the extent it had always wanted and even boosted its licensing activities to ensure a smooth continuation of offshore drilling looking into the 2020s. Even the internal regulatory environment turned for the better |
| The One Big Problem With A Central Asian Energy CorridorIn Moscow last week, President Vladimir Putin hosted the prime minister of Armenia and the president of Azerbaijan. It was the first meeting of the three leaders since the end of the six-week-long war over the Nagorno-Karabakh region last fall. They agreed to create a working group that will advise on how to reopen regional transport connections. It is to report back in March. A key task will be to propose how to open a new transportation corridor, one that will traverse an obscure stretch of land, but with long-range implications for some |
| AMC says bankruptcy is off the table after raising more than $900 million since DecemberShares of AMC skyrocketed Monday after the company disclosed that it had secured enough financing to remain open and operational deep into 2021. |
| Budweiser will sit out Super Bowl, funneling marketing dollars to boost vaccine awarenessBudweiser will not be running a commercial during the Super Bowl for the first time in 37 years. |
| One island welcomes all vaccinated travelers ” but some may want to waitSeychelles this month became the first nation to welcome vaccinated travelers. But there are reasons some travelers ” even vaccinated ones ” may want to wait. |
| CDC director says federal government does not know how much Covid vaccine the U.S. hasThe Biden administration aims for 100 million vaccinations within his first 100 days as president. |
| Birx says someone was giving Trump ‘parallel data’ about Covid pandemicBirx said she was censored by the Trump administration but denied that she ever withheld information on the coronavirus pandemic. |
| 5 ways Biden can help Tesla, GM and others increase electric vehicle sales in the U.S.EV stocks could become even more attractive to Wall Street under President Joe Biden, who has made climate change a priority of his administration. |
| 5 things to know before the stock market opens MondayHeading into the busiest week of earnings season, U.S. stocks were tracking for a mixed open Monday. |
| Food shortages, sacked officials: What happened when one Chinese city shut down after a Covid outbreakTonghua city in northern China, about 10 hours’ drive northeast of Beijing, apologized to its residents Sunday for “untimely” delivery of daily necessities. |
| Harley Davidson’s plan to take iconic motorcycle brand into transportation’s futureTesla is trading at record price as Wall Street bets big on EVs, but so is iconic car maker GM. Is Harley Davidson the next undervalued transportation icon? |
| TGI Fridays CEO says ending the tipped minimum wage would result in higher prices, fewer hours for waitstaffTGI Fridays CEO Ray Blanchette is opposed to President Joe Biden’s proposal to end the tipped minimum wage. |
| United Airlines CEO wants to make Covid vaccines mandatory for employees ” and encourages other companies to do the sameUnited Airlines CEO wants to make Covid vaccines mandatory for the company’s employees, a stance that differs from other airlines and sectors. |
| Boris Johnson says some evidence new Covid variant in the UK may be more deadlyThere is “some evidence” a new Covid variant first identified in the U.K. could be more deadly than the original strain, British Prime Minister Boris Johnson said Friday. |
| Chinese & Indian Troops In New Himalayan Border Brawl, Injuries ReportedChinese & Indian Troops In New Himalayan Border Brawl, Injuries Reported Chinese and Indian troops are reported to have once again engaged in a fierce clash along their shared high altitude Himalayan border, resulting in injuries, according to international reports emerging overnight. Word of the clash which reportedly took place in north Sikkim on Wednesday is only now being revealed, where frontline border patrols tend to be unarmed. “A Chinese patrol tried to enter Indian territory and was forced back, the officials said,” according to BBC, citing regional media. “Some reports said sticks and stones were used, but there were no gunshots.” Typically frontline border patrols on either side are unarmed because of the history of tensions, which each side fears could lead to border war between Indian and China. According to the latest from |
| Dominion Sues Rudy Giuliani Over Election Claims, Seeks $1.3 Billion In DamagesDominion Sues Rudy Giuliani Over Election Claims, Seeks $1.3 Billion In Damages Dominion Voting Systems filed a defamation lawsuit on Monday against Trump attorney and former New York City Mayor Rudy Giuliani, who they say carried out “a viral disinformation campaign about Dominion” comprised of “demonstrably false” allegations, according to the New York Times.
The 107-page lawsuit filed in the Federal District Court in Washington seeks damages of over $1.3 billion, and is based on over 50 statements made by Giuliani at legislative hearings, on Twitter, in the conservative news media, and on his podcast, where he accused Dominion of participating in a plot to flip votes to Joe Biden.
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| Nasdaq Futures Surge On Wave Of Upgrades Ahead Of Crazy Earnings Week; EMini FlatNasdaq Futures Surge On Wave Of Upgrades Ahead Of Crazy Earnings Week; EMini Flat Stocks fluctuated in early Monday trading, with US equity futures and global stocks rising back to all time highs before fading some gains, as optimism over the $1.9 trillion U.S. stimulus plan fizzled modestly following a WaPo report that a bipartisan group was seeking to cut back on the proposed dollar amount while rising COVID-19 cases and delays in vaccine supplies muted some of the market’s recent euphoria.
While E-Mini S&P futures were up “just” 7 points, or 0.20% to 3,842, Nasdaq futures soared on Monday, up 130 points or more than 1%, and outperforming contracts on the Russell 2000 Index of small-cap shares. After ending on a cautious note last Friday, global stocks resumed their march upward. Key for the market this week will be the parade of earnings, with the biggest U.S. tech giants including Apple, Tesla and Facebook scheduled to release results. “The Federal Reserve … |
| Gamestop Explodes In Early Trading, Nears $10 BIllion Market Cap; Is AMC NextGamestop Explodes In Early Trading, Nears $10 BIllion Market Cap; Is AMC Next The mega squeeze in Gamestop shares continued on Monday morning, which as a reminder has short interest higher than its float.
Emboldened by Friday’s frantic surge which made “the Big Short” Michael Burry even richer, aggressive reddit and Robinhood daytraders continued to press their historic squeeze of the trapped shorts, and on Monday GME stock exploded higher, more than doubling from its Friday close and hitting an all time high of $136.63 – representing a market cap just shy of $10 billion – before fading some of gains and currently trading at $95.
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| Debenhams shops to close permanently after Boohoo dealOnline retailer Boohoo will buy the brand for £55m, but not its shops, putting 12,000 jobs at risk. |
| Mastercard to push up fees for UK purchases from EUThe move sparks concerns that customers could see prices rise if merchants pass on the higher cost. |
| Bank of England criticised for financing carbon-intensive firmsMPs criticise the Bank of England for providing financial help without attaching environmental strings. |
| Market Movers: Grasim paints green on charts as RIL tumbles post earningsAs many as 55 stocks listed on the NSE gave a œsell signal based on MACD indicators. The list included Tata Motors, Vodafone Idea, DLF, and Lupin. |
| UltraTech’s show, bright outlook cement confidence in the sectorAnalysts were quick to latch on this as they saw a clear correlation between the management’s statements and the falling unsold inventory of cement overall. |
| Bajaj Auto’s robust Q3 ticks many boxes on analysts’ chartsIts market share gains in the export market in a post-Covid-19 world has demonstrated the strength of the company’s franchise built over the last decade. |
| Economic Report: Chicago Fed’s December national activity index ticks higher on factory outputThe Chicago Fed’s national activity index increased to 0.52 in December from a revised 0.31 in the prior month. |
| Market Snapshot: Dow futures sag ahead of big week for tech earningsStock-index futures were mixed Monday, with tech-related equities finding support ahead of a busy week of earnings that features results from Apple Inc., Tesla Inc. and Facebook Inc. |
| Earnings Outlook: Starbucks earnings preview: COVID-19 stalls sales recovery, but spring is looking upThe return of the Starbucks Happy Hour will give sales a bump, analysts say |
Indian border troops on alert, via AFP
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