Written by Gary
Natural gas will rule us energy market for decades (SPY +1.4%). Oil edges higher, but fears about the coronavirus-fueled hit to demand weigh.
Here is the current market situation from CNN Money | |
European markets are mixed today. The DAX is up 3.16% while the FTSE 100 gains 1.84%. The CAC 40 is even. |
What Is Moving the Markets
Here are the headlines moving the markets. | |
The Unintended Consequences Of Fossil Fuel DivestmentThe stability of the global oil market is under threat. The impact of COVID-19 and the resultant demand destruction has put an ever-increasing amount of oil and gas producers on the path to bankruptcy. At present, the list of U.S. shale oil and gas producers filing for Chapter 11 is growing by the day, while global oilfield services and offshore drilling companies are fighting to survive. Ultimately, this very dire situation is being driven by oil and gas demand and prices, which is why a degree of stability has returned with oil prices back around | |
Gulf Nations Are Desperate For Higher Oil PricesGulf nations led by Saudi Arabia have been putting on a brave face and touting the strength of their economies, claiming they can withstand any scale of shocks during the oil crisis. Unfortunately, a growing body of evidence suggests pretty much the opposite: the Gulf economies are in dire straits thanks to their overreliance on oil. With oil prices stuck at $40/barrel, S&P Global Ratings has estimated that GCC (Gulf Cooperation Council) central government deficits will reach about $490 billion cumulatively between 2020 and 2023 while government | |
Why Is Nuclear Energy So Expensive?We all knew that 2020 would be an incredibly tough year for nuclear energy. In the United States, the sector has been on the decline for years, saddled with hazardously aging infrastructure and a flood of cheap natural gas thanks to the West Texas shale revolution that the nuclear sector simply cant compete with. As such, the domestic nuclear sector has become increasingly dependent on government handouts to stay afloat and has saddled the taxpayer with the staggeringly high cost of maintaining radioactive nuclear waste in the form of spent | |
Could Thorium Revive The Nuclear Energy Industry?For decades, the nuclear energy sector has been regarded as the black sheep of the alternative energy market thanks to a series of high-profile disasters such as Chernobyl, Fukushima, and Three Mile Island. But recently, the sector has received the backing of the Trump administration, which has sought a $1.5B bailout of America’s flagging uranium industry in a bid to create sufficient federal stockpiles for national security purposes. Yet, nuclear energy could soon receive yet another shot in the arm that might significantly improve its standing | |
Mexicos Crude Oil Future Is In JeopardyThe attentive reader might have come across numerous articles about Mexicos numerous discoveries in the past months. Heavily indebted, mired in a myriad of corruption cases and facing the prospects of terminal (albeit gradual) output decline Mexico in general and PEMEX in particular needs positive market stories that it can embrace as its narrative, a version of its future that does not necessarily mean to obsolescence. Yet upon closer inspection, much of the articulated narrative might seem rather counterintuitive. If anything, | |
Natural Gas Will Rule The US Energy Market For DecadesNatural gas was first hailed as the bridge between the fossil fuel past and the renewable future. Then it came under fire because although cleaner than oil and coal, it is not entirely emission-free. But according to a new report from Energy Market Advisors, it will rule the energy mix of the United States even 20 years from now. The reasons for this continued dominance are simple enough even if they may be unpleasant for the most hard-line supporters of renewables such as solar and wind. Gas is not only cheap, but its supply is also continuous, | |
Health and safety certificates may be the new ‘visas’ that permit air travel, Etihad CEO saysAirlines will need to meet a “harmonized” standard of health measures as air travel returns, according to Tony Douglas of Etihad Airways. | |
K-pop sensation BTS’ label prices IPO at top end of rangeShares of Big Hit Entertainment, the music label behind global K-pop phenomenon BTS, were priced on Monday at the top end of the range ahead of its highly-anticipated market debut. | |
Allbirds wants people to understand their sneakers’ carbon footprint like they do calories in foodThe problem with talking about carbon footprint, or greenhouse gas emissions, is that they’re not terms the average consumer instinctively understands, according to Allbirds’ sustainability lead Hana Kajimura. | |
Antarctica, the only continent without coronavirus, braces for summer rotationAs the harsh winter comes to a close, critical global efforts are underway to ensure that incoming colleagues do not bring Covid-19 to Antarctica. | |
Fewer than 10% of Americans show signs of past coronavirus infection, study finds“You cannot assume that we are even anywhere near herd immunity right now in the United States,” Director of the National Institute of Allergy and Infectious Diseases Dr. Anthony Fauci. | |
5 things to know before the stock market opens MondayDow futures pointed to a 350-point gain at Monday’s open after Friday’s strong rally failed to erase last week’s losses. | |
Office real estate market will get back to pre-Covid level, in 2025: Cushman & WakefieldIt could be five years before the office real estate market returns to a pre-coronavirus level of occupancy, according to a new study from Cushman & Wakefield. | |
Don’t trust the bounce in cruise stocks, traders say after analysts call ‘inflection point’Cruise line stocks are still far from recovery despite Barclays’ call that the group is “nearing an inflection point,” two traders say. | |
New F1 CEO will need to address future of U.S. Grand Prix in Austin as racetrack deal set to expire after 2021 seasonThe Liberty Media-owned racing property replaced CEO Chase Carey raising questions around its U.S. expansion, starting with its future in Austin. | |
Taxes are likely to go up for the wealthy in these nine statesLawmakers in nine states are proposing higher taxes on the wealthy to help fill growing budget holes from the pandemic, and the list is likely to grow, according to a legislative group. | |
WHO says 2 million coronavirus deaths is ‘not impossible’ as world approaches 1 millionAs the global death toll from the coronavirus approaches 1 million people, the World Health Organization said it’s “not impossible” that the number could double. | |
HHS wants to test 30% of U.S. wastewater for the coronavirus as an ‘early warning system’Wastewater surveillance is no replacement for standard diagnostic testing, Dave Larsen said, adding that it’s just one more tool that can help communities around the country better understand the outbreak. | |
These companies are returning more money to shareholders after cutting jobsDividends and buyback programs are slowly returning, but for some companies, the reinstatement of capital-return plans follows layoffs and permanent job cuts.  | |
NIRP Nonsense, Stupidity Rules, & Winter Is Coming…NIRP Nonsense, Stupidity Rules, & Winter Is Coming… Tyler Durden Mon, 09/28/2020 – 08:35 Authored by Bill Blain via MorningPorridge.com, Storm In A Teacup… | |
Global COVID-19 Deaths On Track To Top 1 Million, UK Prepares New ‘Localized Lockdown’ Measures: Live UpdatesGlobal COVID-19 Deaths On Track To Top 1 Million, UK Prepares New ‘Localized Lockdown’ Measures: Live Updates Tyler Durden Mon, 09/28/2020 – 08:20 Summary: Global deaths just below 1 million UK prepares new lockdown measures Case total tops 33 million Indian cases top 6 million Inovio pauses vaccine trial Russian outbreak worsens New UK fines take effect Australia’s Victoria region posts just 5 new cases * * * With COVID-19-linked deaths in the US accelerating to roughly 1,000 per day for the first time since before the Sun Belt outbreaks peaked over the summer, the US surpassed 200,000 deaths last week, and now the world is on track to surpass 1 million deaths within the next 24 hours, according to the Associated Press. Globally, the number of deaths reported on Sunday fell by roughly 50% from the more than 5,000 reported on Saturday. Just 2,552 deaths were reported on Sunday, bringing the global total to 998,145 as of Monday morning, within 2,000 deaths of 1 million. Unless the pace of fatalities slows remarkably on Monday, we will top 1 million before midnight – and possibly before the close of the US market day. | |
“It’s Hard To Become Too Bearish”: Futures Surge Amid Optimism Selloff Has Gone Too Far“It’s Hard To Become Too Bearish”: Futures Surge Amid Optimism Selloff Has Gone Too Far Tyler Durden Mon, 09/28/2020 – 08:07 US stocks future indexes rose on Monday following Friday’s gains and tracking major gains in European and Asian markets amid optimism that the recent selloff in equity markets is overdone. The dollar weakened and Treasury yields rose. The pound strengthened on hopes that U.K. and European Union officials will be able to make progress as a key week of Brexit talks begins, while the Turkish lira crashed to a new all time low on fears the country would be dragged into the sudden breakout of war between Armenia and Azerbaijan. | |
Turkish Lira Crashes To Record Low, Hammered By Armenian-Azeri WarTurkish Lira Crashes To Record Low, Hammered By Armenian-Azeri War Tyler Durden Mon, 09/28/2020 – 07:26 So much for last Thursday’s surprise rate hike by the Central Bank of Turkey. Two trading days after the CBRT unexpectedly hiked rates by 200bps to stem the ongoing plunge in the country’s currency, overnight the Turkey’s lira dropped to a record as geopolitical risks rose in the region due to clashes between Azerbaijan and Armenia. Shortly after Japanese traders arrived, the lira flash crashed as much as 2.1% to 7.8279 against the U.S. dollar. Then after recovering most losses, it resumed the drift lower and was down 1.7% at 7.914 by 7:00 a.m. ET. | |
Uber spared from London ban despite ‘historical failings’The firm gets a new licence to work in the capital after a court says it has addressed safety issues. | |
Donald Trump ‘paid $750 in federal income taxes in 2016 and 2017’ – NY TimesThe New York Times alleges years of tax avoidance, a claim the US president calls œfake news . | |
William Hill: Caesars Palace-owner in ‘advanced’ talks over £2.9bn offerOwner of the famed Las Vegas casino reveals its hand as one of two possible bidders for the UK firm. | |
Court declares Sandesaras fugitive offendersCourt declares Sandesaras fugitive offendersET had in July reported that the bank fraud case had finally reached a crucial stage after hanging fire in the lower court for nearly a year on account of œlack of clarity over a Supreme Court order passed in July last year. | |
Law and order has collapsed in Bengal: WB GuvLaw and order has collapsed in Bengal: WB GuvWest Bengal Governor Jagdeep Dhankhar said that he has ignored for long but will be forced to look at Article 154 of the Constitution (which mandates power of the state shall be vested in the Governor). | |
CBI says no aspect ruled out in SSR probeCBI says no aspect ruled out in SSR probeThe CBI was handed over the probe ‹ ‹by the Supreme Court on August 19. | |
Market Snapshot: Dow industrials aim to get off the week to a solid start, futures jump nearly 400 pointsU.S. stock indexes on Monday look poised to advance sharply to start the week as investors brace for a period in which the race for the White House and the state of the economy may come into greater clarity. | |
London Markets: HSBC and Diageo power FTSE 100, as office property firms get boost from KKR stakeHSBC Holdings and Diageo led the FTSE 100 higher on Monday, putting the blue chip U.K. index on track for its best one-day gain in three weeks, as the office sector rallied on the news KKR had taken a stake in one of them. | |
Futures Movers: Oil edges higher, but fears about coronavirus-fueled hit to demand weighCrude-oil futures on Monday trade modestly higher, reversing some earlier weakness that had been sparked by growing concerns about the impact of rising coronavirus cases throughout the globe. |
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