Written by Gary
US retail bankruptcies, store closures hit record in first half (SPY -0.5%). Wall Street awaits Trump-Biden face-off later Tuesday.
Per Mike Swanson, “This morning the DOW and S&P 500 and Nasdaq all gave sell signals on their hourly charts with their stochastics indicator.”
The Market in Perspective
|Here are the headlines moving the markets.|
Oil prices fell on Tuesday as sentiment shifted due to an increasing amount of uncertainty surrounding the second wave of COVID-19Chart of the Week- Fuel ethanol production capacity in the U.S. hit 17.3 billion gallons per year (gal/y), or 1.1 million barrels per day (b/d), as of January 2020. Capacity was up 3 percent year-on-year in January.- 12 of the top 13 ethanol-producing states are in the Midwest, with Iowa holding 4.5 billion gallons per year in capacity, roughly double the state with the next largest capacity
Solar power could be Europes biggest energy source in terms of installed capacity by 2025 if the European Union (EU) stays on track for its net-zero targets, the head of the International Energy Agency (IEA) said on SolarPower Europes Solar Power Summit on Tuesday. Our numbers show that if Europe is keen and able to follow a net-zero goal, within five years of time solar will be the number one electricity capacity in Europe, overtaking everybody, IEAs Executive Director Fatih Birol said on the summit, as
Like it or not, on a global level we are irrefutably in the beginning stages of a sweeping energy transition that favors clean energy alternatives over emissions-heavy fossil fuels. The COVID-19 pandemic, for all its economic destruction, has in some ways strengthened the renewable energy sector and definitively catalyzed the global green energy transition. Even before the oil price crash of unimagined proportions that occurred in April, oil has been on a long, slow, and mostly steady decline. And now, weve arrived at a breaking point:
The worlds third-biggest oil importer, India, is considering using storage facilities in the United States and other commercially viable locations to reduce its supply risks, Indias Oil Minister Dharmendra Pradhan said at an event on Tuesday. We are also exploring overseas crude storage facilities in the US and other commercially viable locations, the minister said, as quoted by The Economic Times. India has been looking for years to diversify its crude oil supply beyond its traditional top supplier, the Middle East,
The global oil and gas market demand for large-diameter offshore pipeline, known as trunkline, is set for an annual drop of 26% this year, with the size of total installations forecasted to reach 2,150 kilometers (km), a Rystad Energy analysis shows. This downturns impact on trunkline demand is, however, lighter than that of 2016, and recovery is likely to be swift, led by projects in the Middle East. Although it is set for a significant drop from last years 2,913 km, offshore trunkline demand is holding up much better now than during
Four in five oil and gas workers offshore the UK, or 81.7 percent, would consider leaving the industry, a new poll of environment campaign groups showed on Tuesday, while the leading representative body of the offshore industry, OGUK, says the reports claims that offshore workers are not consulted in the policies in the energy transition are misleading. Platform, Friends of the Earth Scotland, and Greenpeace UK published today a new survey of 1,383 offshore oil and gas workers, representing 4.5 percent of that workforce. The
As the number of deaths related to Covid-19 surpasses 1 million globally, it’s clear that the pandemic will have continuing devastating effects on New York City’s economy.
More than 100,000 bars and restaurantsA “A or 15% of all eating and drinking establishmentsA ” have permanently closed due to the coronavirus pandemic, according to National Restaurant Association estimates.
Six months after the pandemic restrictions began, movie theaters do not have a clear path to recovery.
United is planning to resume service at JFK in 2021 after shifting operations to Newark five years ago.
DisneyA has tapped Academy Award-winner Barry Jenkins to direct a sequel to “The Lion King.”
“I have never seen so much money, resources and people being pumped into studying a disease. The world has come together in a phenomenally remarkable way. It’s unprecedented. I’ve not seen it in my lifetime,” Dr. Adarsh Bhimraj said.
New York health officials are investigating 20 of the state’s ZIP codes where Covid-19 hot spots appear to be growing, the governor said.
Nikola’s shares fell after CNBC reported new sex abuse allegations against founder Trevor Milton and General Motors said that it is still in discussions over a $2 billion deal with the electric truck maker, which was expected to close Wednesday.
The global health crisis has inspired consumers to adopt new shopping habits and accelerated retailers’ investments in e-commerce and contactless approaches.
As coronavirus deaths pass 1 million, health-care workers around the world share stories from the front lines
Health-care workers on the front lines from around the world share what it has been like to treat patients during the coronavirus pandemic.
To bring its Topo Chico Hard Seltzer to the United States next year,A Coca-ColaA is partnering withA Molson CoorsA Beverage.
The coronavirus has now killed more than 1 million people and upended the global economy in less than nine months
The coronavirus pandemic has reach its most grisly milestone to date: 1 million people are dead.
Bankruptcies in the New York City region have surged 40% during the coronavirus pandemicA compared with the same time a year ago, according to Bloomberg.
Bonds & Bullion Bid As Stocks & Dollar Skid Tyler Durden Tue, 09/29/2020 – 16:00
COVID concerns (NFL cases and NYC positivity rates), a lack of stimulus progression, and the uncertainty ahead of tonight’s presidential debate weighed on stocks and the dollar, but sparked a safe-haven bid under bonds and precious metals…
The machines tried as usual to get back to even but with no lasting luck (weakness into Asia close and European close and US close…
Gov Cuomo Threatens To Send In National Guard To Pick Up Trash As NYC Garbage Crisis Worsens Tyler Durden Tue, 09/29/2020 – 15:45
Offering perhaps the clearest indication yet of his priorities as a Democratic governor of one of the most liberal states in the country, NY Gov. Andrew Cuomo just suggested Tuesday that he might send in the national guard to help pick up trash around the city, infuriating critics who questioned his eagerness to send in the National Guard to act as glorified garbagemen, despite his unwillingness to deploy them during the unrest that followed the killing of George Floyd.
Which Drugs Should Biden Take Pre-Debate? Tyler Durden Tue, 09/29/2020 – 15:25
Authored by ‘Cockburn’ via The Spectator,
With the first presidential debate now just hours away, President Trump continues to insist that Joe Biden take a drug test. Trump’s none-too-subtle insinuation is that the former vice president is so mentally frail that he cannot hope to match the vaulting intellect of the 45th president of the United States on the debate stage.
It’s a peculiar form of Trumpian baiting – something the President has probably learned from the world of Mixed Martial Arts – or perhaps the product of a guilty conscience. Trump himself famously sniffed his way through his first debate with Hillary Clinton four years ago, and there’s been plenty of speculation over the years that the President consumes medicinal substances to combat some form of attention-deficit disorder.
US Intelligence Investigated Hillary Clinton Over Alleged Plan To Smear Trump With Russia Accusations
US Intelligence Investigated Hillary Clinton Over Alleged Plan To Smear Trump With Russia Accusations Tyler Durden Tue, 09/29/2020 – 15:12
On September 7, 2016, US intelligence officials forwarded an investigative referral to former FBI officials James Comey and Peter Strzok concerning allegations that Hillary Clinton approved a plan to smear then-candidate Donald Trump by tying him to Russian President Vladimir Putin and Russian hackers, according to information given to Sen. Lindsey Graham by the Director of National Intelligence.
The Louis Vuitton-owner claims jeweller Tiffany is no longer the business it agreed to buy last November.
Mike Coupe takes over as director of Covid-19 testing amid heavy criticism of the operation.
The coronavirus crisis has eroded young people’s confidence in the future, says the Prince’s Trust.
Why Section 194-O of I-T Act will bother e-comm cos194-O’s approach of one-size-fits-all won’t work in India, considering existing sectoral complexities, underlying costs of compliance.
Biden releases 2019 tax returns ahead of debateBiden’s taxes showed that he and his wife Jill paid more than $346,000 in federal taxes and other payments for 2019 on an income of nearly $985,000 before seeking a refund of nearly $47,000 they said they had overpaid the government.
View: A judicial wall America’s buildingWith Barrett, Trump has named three Supreme Court justices in four years, an unprecedented windfall for conservatives and a cause for deep lament for liberals.
Written by Steven Hansen
The latest Conference Board Consumer Confidence Index’s headline number improved. The Index now stands at 101.8 (1985=100), up from 86.3 in August. A quote from the Conference Board: “… Consumers also expressed greater optimism about their short-term financial prospects, which may help keep spending from slowing further in the months ahead”.
Micron Technology Inc. nearly doubled its profit and added more than $1 billion in sales from last year thanks to strong cloud and consumer sales during the COVID-19 pandemic.
Retail bankruptcies, liquidations and store closings in the U.S. reached records in the first half of 2020 as the Covid-19 pandemic accelerated industry changes, particularly the shift to online shopping, according to according to a report by professional-services firm BDO USA LLP.
Mark Cuban has picked up the homeless former NBA player Delonte West at a gas station in Dallas.
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