Written by Gary
Shares of Virgin Galactic surged nearly 25% in trading today (SPY +1.7%). Gold, silver, and stocks surge as real yields tumble. US squeezes China’s biggest chip-maker SMIC.
The Market in Perspective
Here are the headlines moving the markets. | |
Do Canadian Oil Drillers Still Have Some Potential?This company presents a good opportunity for investors with a minimum of risk, with exceptions as noted. Enerplus, (NYSE:ERF) is a Canadian driller with a good balance sheet and cash flow, that may benefit from the thesis we presented in our introductory article onseveral Canadian drillerslast month. Readers should refer back to it for a detailed analysis of why the Canadian drillers are of interest. The thesis for buying Canadian drillers, that I presented in the Omnibus article works mostly for ERF, as regards their Canadian water-flood | |
Elon Musk Feels Bad About Hating On The Oil And Gas IndustryElon Musk said he feels a bit bad about hating on the oil and gas industry through the years, saying that many oil companies built their business of producing and burning fossil fuels before it became clear that oil and gas contribute to climate change. In a wide-ranging conversation on the Sway with Kara Swisher of The New York Times, Teslas founder and chief executive said Honestly, I feel a bit bad about hating on the oil and gas industry. For a lot of the people in the oil and gas industry, | |
UAE Wealth Fund Sees Oil Demand Peaking In 2030Global oil demand has another decade to grow until peaking in 2030, Mubadala Investment Company, one of the largest state wealth funds of the United Arab Emirates (UAE), believes. The coronavirus-inflicted disruption in global oil demand this year will continue into next year, Musabbeh Al Kaabi, chief executive of Petroleum and Resources at the UAEs Mubadala Investment Company, said in an interview as part of the ADIPEC Energy Dialogue series on Monday. However, the investment firm of OPECs third-largest producer currently | |
Nigeria Considers Privatizing Its State Oil FirmNigeria will look to privatize its state oil firm Nigerian National Petroleum Corporation (NNPC) under a draft new petroleum law currently in Parliament for discussion, Reuters reported on Monday, quoting the bill it has seen. Nigerias Senate and the House of Representatives have to pass the bill, which has been years in the making, in order to become law. According to two sources who spoke to Reuters, Nigerias President Muhammadu Buhari has already sent the bill to the Nigerian Senate. Under the draft law, Nigeria | |
Why Natural Gas Prices Are Set To Soar Next WeekA significant cooldown has arrived, with the jet stream from Canada plunging this weekend, which will allow the eastern United States to experience its first taste of fall for much of next week. The ten-day outlook in terms of the thermal aspect shows a cold airmass will encompass all U.S. Plains, Midwest, Southeast, and Northeast, where temperatures could hover 8 to 15 degrees below normal through the first week of October. E.C. Operational Forecast (with gray 32 degrees Fahrenheit line) shows the blast of cold air pouring in from Canada | |
Iran Admits To Forging Oil Documents To Skirt U.S. SanctionsIran is forging oil export documents so it can pass its oil on the market as non-Iranian crude, thus skirting the U.S. sanctions on its oil industry and exports, according to Irans top oil official. What we export is not under Irans name. The documents are changed over and over, as well as specifications, various media reported Iranian Oil Minister Bijan Zanganeh as quoted as saying in parliament by the website of the state-held National Iranian Oil Company (NIOC). Since the U.S. imposed sanctions on Irans | |
CDC study finds coronavirus rates among teens nearly ‘double’ compared with childrenThe coronavirus infection rate among adolescents between the ages of 12 and 17 was found to be “approximately double” the rate in children ages 5 to 11, according to a new CDC study. | |
Official coronavirus death toll is likely an ‘underestimate’ of the true total, WHO says“I can assure you that the current numbers are likely an underestimate of the true toll of Covid,” WHO’s Mike Ryan said. | |
United, pilots agree on schedule reductions to avoid nearly 3,000 furloughsUnited Airlines pilots agreed to cut their schedules to avoid nearly 4,000 furloughs as the company seeks to reduce costs because of the coronavirus pandemic. | |
As holidays approach, CDC puts shopping at crowded stores on Black Friday in high-risk categoryThe CDC issued guidance encouraging Americans to shop online rather than in crowded stores during the holiday season because of the pandemic. | |
The U.S. is ‘not in a good place’ as daily coronavirus cases grow beyond 40,000, Fauci says“There are states that are starting to show an uptick in cases and even some increase in hospitalizations in some states,” Dr. Anthony Fauci said Monday. | |
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. | |
Watch live: The World Health Organization holds a press briefing on the coronavirus pandemicThe WHO is holding a briefing on the Covid-19 pandemic. | |
Stocks making the biggest moves midday: Snap, Devon Energy, Virgin Galactic, UPS, Chevron & moreDealmaking activity sparked rallies in Devon Energy and Cleveland-Cliffs. Plug Power surges on an analyst upgrade. | |
Virgin Galactic jumps 25% in its second best day ever after getting Wall Street’s full endorsementShares of Virgin Galactic surged nearly 25% in trading Monday after Wall Street firms continued set higher expectations | |
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. | |
Trump claims without offering proof that he has little debt and paid millions in taxes after NYT reportPresident Trump claimed he had paid “many millions of dollars in taxes” after a report in The New York Times revealed he had paid effectively no income taxes for more than a decade. | |
Over half of small businesses worry social distancing will hurt their chances of survival: SurveyOver half of small business owners surveyed by Verizon worry that social distancing will challenge their survival, but the Main Street outlook has improved since spring. | |
Would you like to know where you can find the next trillion dollar growth stock? If so, ERShares may have an answer for you. It’s an ETF with NYSE Ticker: ENTR. This ETF invests in the leading Entrepreneurial publicly listed companies around the world. | |
Gold, Silver, & Stocks Surge As Real Yields TumbleGold, Silver, & Stocks Surge As Real Yields Tumble Tyler Durden Mon, 09/28/2020 – 16:01 Election Uncertainty reached its cycle highs today as the VIX curve steepened dramatically… | |
Russia Was Trying To Hurt Trump? Impending Declassification To ‘Flip Collusion Theory On Its Head’: SolomonRussia Was Trying To Hurt Trump? Impending Declassification To ‘Flip Collusion Theory On Its Head’: Solomon Tyler Durden Mon, 09/28/2020 – 15:40 New declassifications expected as soon as this week could flip the Trump-Russia collusion conspiracy theory on its head, according to Just The News’ John Solomon. According to multiple officials familiar with the planned declassification, “new evidence will raise the specter that Russian President Vladimir Putin was actually trying to hurt President Trump, not help his election in 2016, as the Obama administration claimed.” | |
David Stockman On The Economy’s Role In The Upcoming Presidential ElectionDavid Stockman On The Economy’s Role In The Upcoming Presidential Election Tyler Durden Mon, 09/28/2020 – 15:21 Via InternationalMan.com, International Man: Bill Clinton’s infamous phrase during the 1992 presidential election was œIt’s the economy, stupid. How important of a role do you think the economy and a continued rally in the stock market will play in the outcome of the presidential election? | |
Maryland Man Jailed For One Year Following Multiple Parties During Virus LockdownMaryland Man Jailed For One Year Following Multiple Parties During Virus Lockdown Tyler Durden Mon, 09/28/2020 – 15:00 A Maryland man who held multiple large gatherings during lockdowns in violation of Gov. Larry Hogan’s public health order, banning groups over ten or more people, was sentenced to one year in jail, reported WJZ Baltimore. | |
Asda: UK billionaire brothers edge ahead in race to buy supermarketThe Issa brothers and TDR Capital are the preferred bidders to buy the UK supermarket chain from Walmart. | |
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. | |
US squeezes China’s biggest chip-maker SMICThe commerce department writes to suppliers, warning of risks linked to the Chinese military. | |
How a temporary US ban could destroy TikTokHow a temporary US ban could destroy TikTokWhile ByteDance is still in talks with U.S. investors, the White House and the Chinese government over how to structure the deal, the Trump administration had sought to ban new downloads of the app from U.S. app stores from Sept. 27. A U.S. judge has temporarily blocked that order. | |
NHAI scraps TOT-4, tests new monetisation modelNHAI scraps TOT-4, tests new monetisation modelBids for TOT-4 were invited in November 2019, with a concession value of Rs 4,200 crore, which was later halved to around Rs 2,200 crore, to suit smaller investors. | |
RCB beat MI in thrilling Super Over gameRCB beat MI in thrilling Super Over gameIn the Super Over, Navdeep Saini conceded only 7 runs and RCB skipper Virat Kohli hit Jasprit Bumrah for a boundary off the final delivery to win it for his team. Chasing a target of 202, Mumbai Indians managed 201 for 5 after Ishan Kishan (99 off 58 balls) and Kieron Pollard (60 off 24 balls) nearly pulled off an incredible chase but could manage 8 off the required 19 runs in the last over. | |
In One Chart: This map shows where American taxpayers are most likely to be audited ” and it’s certainly not Washington, D.C.The IRS has admitted low-income taxpayers are audited more often than high-income taxpayers like President Trump. Here’s why. | |
: Democrats say Trump tax avoidance allegations show need to make filings publicCongressional Democrats say the shock over the New York Times story alleging President Donald Trump paid only $750 in income taxes in two recent years supports their calls to get his returns and require future candidates to disclose as well. | |
Key Words: The stock market could be rough for the next few weeks, but 2021 will be another story, Wharton professor says |
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