Written by Gary
SP 500 futures are flat with earnings season kicking off, Nasdaq futures jump 1% as Apple gains (SPY -0.2%). Stocks making the biggest moves premarket: Johnson & Johnson, Blackrock, JPMorgan Chase.
Here is the current market situation from CNN Money | |
 | European markets are mixed. The CAC 40 is higher by 0.71%, while the DAX is leading the FTSE 100 lower. They are down 0.75% and 0.23% respectively. |
What Is Moving the Markets
| Here are the headlines moving the markets. | |
 | The Next Couple Of Months Are Crucial For U.S. OilThe U.S. oil industry faces a bumpy road to recovery from the steepest slump in oil demand in history. Oil demand in the United States and elsewhere is still trailing below last years levels, while a growing number of indebted shale producers struggle to refinance debts at these low oil prices and file for bankruptcy protection to restructure debt loads. Oil prices may remain lower for longer with global oil demand unlikely to return to pre-crisis levels by the end of 2021, piling further pressure on the U.S. |
| Where Will the Worlds Next Giant Gold Discovery Be?In the past 10 years, weve only seen a relatively small amount of new gold discoveries. Thats a small number when you consider golds solid performance this year under multiple crises, from a pandemic and economic recession to all the political uncertainty that is piling up as we speak. 2008 was a banking crisis. It was concentrated in a handful of people. Now youre seeing a broader crisis, former Goldman Sachs trader Jason Urban told Kitco on October 1st, the same day President Trump and |
| Oil Prices Sink Ahead Of Industry ReportsMajor oil benchmarks dipped on Monday ahead of two major oil industry reports that are set to be released on Tuesday of this week. The IEA is set to publish its World Outlook 2020 on Tuesday, followed by OPECs Monthly Oil Market Report (MOMR). Both are much-anticipated industry reports that are set not only to shed light on oil production around the world, but on the very thing that has plagued prices since the start of the pandemicoil demand. And no one is expecting promising results on the oil demand front from either source. |
| Will Libya’s Fragile Oil Truce Fall Apart This Week?The prospect of the return of the 1.2 million barrels per day (bpd) of crude oil that Libya was producing before the broad-based blockade of its energy infrastructure caused it to plummet to 100,000 bpd in January has done nothing to support the oil price as it has struggled to establish a floor above the US$40 per barrel (pb) level. According to various oil analysts, Libyas oil output might recover to at least 500,000 bpd by the end of this year and even to over 1 million bpd shortly after that, based on the continued absence of the blockade |
| Russian LNG Gets A Climate Change BoostRussias Novatek said last week it planned to triple current liquefied natural gas production rates to as much as 70 million tons annually by 2030. Thats despite the current glut that has depressed LNG prices globally and the damage to demand done by the pandemic. The company has a major ally in that ambition, and its not Putin. Its the Northern Sea Route. In September, shipments of liquefied natural gas from Novateks Yamal LNG facility via the Northern Sea Route hit 700,000 tons, according to an Argus Media report. |
| Electric Vehicle Market Hits New MilestoneU.S. electric vehicle maker Tesla will be releasing its Full Self-Driving (FSD) beta version to a limited number of customers next week, as promised, Elon Musk said on Monday. Limited FSD beta releasing on Tuesday next week, as promised. This will, at first, be limited to a small number of people who are expert & careful drivers, Musk said in a tweet, replying to a news story about the progress in Teslas full self-driving capabilities. During Teslas Battery Day on September 22, Musk said: I think well |
| Johnson & Johnson’s coronavirus vaccine trial is paused after ‘adverse event’ in a participantJ&J’s CFO said the pause will allow the data and safety monitoring board to thoroughly investigate the unexplained illness. |
| A 25-year-old man becomes first in the U.S. to contract coronavirus twice, with second infection ‘more severe’It is the first confirmed case of a U.S. patient becoming re-infected with Covid-19, and the fifth known case reported worldwide. |
| Johnson & Johnson beats third-quarter earnings expectations, raises guidanceJ&J’s third-quarter earnings and revenue beat expectations, led by higher sales in its medical-device unit and higher demand for some of its drugs. |
| Dr. Anthony Fauci says he won’t walk away from ‘this outbreak no matter who’s the president’Dr. Anthony Fauci told CNBC on Monday evening he’s prepared to stay on the job fighting the coronavirus whether President Donald Trump wins reelection or Democratic nominee Joe Biden wins. |
| ‘The worst is not behind any airline’: Qatar Airways CEO warns more collapses coming for industryThe CEO urged government bailouts for airlines, warning that “the worst is not behind any airline, not only Qatar Airways.” |
| Delta posts $5.4 billion net loss in another brutal quarter but trims its cash burnDelta lost $5.4 billion in the three months ended Sept. 30, but trimmed its cash burn. |
| Stocks making the biggest moves premarket: Johnson & Johnson, Blackrock, JPMorgan ChaseThese are the stocks posting the largest moves before the bell. |
| The investment opportunities in ‘green hydrogen’ might not be where you thinkRenewable energy will play a crucial role in the years ahead. |
| 5 things to know before the stock market opens TuesdayU.S. stock futures were mixed Tuesday as banks began reporting quarterly earnings. |
| ‘Very unethical’: Russian sovereign wealth fund chief slams criticism of his country’s coronavirus vaccine“We all need to be very practical and stop this rhetoric of trying to paint each other’s vaccine black. It’s very unhealthy, it’s very unethical and very unproductive,” said Kirill Dmitriev, chief executive of RDIF. |
| Dr. Fauci says U.S. faces ‘a whole lot of trouble’ as coronavirus cases rise heading into winter“I’m not going to walk away from this outbreak no matter who’s the president,” Dr. Anthony Fauci said in an interview on The News with Shepard Smith. |
| Retailers hope Amazon’s Prime Day on Tuesday kicks off early holiday shopping seasonRetailers are gearing up for an early start to holiday shopping by picking products to promote, using tech tools to manage their supply chain and getting employees ready. |
| Southwest is expanding at United’s Houston and Chicago hubsSouthwest Airlines announced a surprise move into Houston and Chicago’s largest airports, a strategy shift that would expand its presence in United hubs. |
| Used-Car Prices Soar As Shelter/Rent Costs Slow In September CPI DataUsed-Car Prices Soar As Shelter/Rent Costs Slow In September CPI Data Tyler Durden Tue, 10/13/2020 – 08:40 Consumer prices  |
| Nasdaq Futures Surge Despite Vaccine Setback As Gamma Squeeze ContinuesNasdaq Futures Surge Despite Vaccine Setback As Gamma Squeeze Continues Tyler Durden Tue, 10/13/2020 – 08:18 Global stocks and S&P futures struggled on Tuesday amid concerns over a Johnson & Johnson vaccine setback, which overshadowed Chinese trade data that pointed to a buoyant recovery, while yields dropped and the U.S. dollar edged away from a three-week low. |
| Dutch Woman Dies After Being Reinfected With COVID-19, Global Cases See Biggest Weekly Jump Yet: Live UpdatesDutch Woman Dies After Being Reinfected With COVID-19, Global Cases See Biggest Weekly Jump Yet: Live Updates Tyler Durden Tue, 10/13/2020 – 08:10 Summary: Dutch woman dies after being reinfected First American confirmed reinfected with COVID-19 Russia, Hungary report record deaths China launches another massive testing campaign India new cases lowest in 2 months WHO says world saw record jump in COVID-19 cases last week 14% of those infected with COVID are health-care workers Italy imposes new restrictions * * * Speaking to a massive crowd in Florida last night, President Trump declared that he felt “powerful” and that he would “kiss” every person in the crowd if he could. Shortly before the start of Trump’s performance, Press Secretary Kayleigh McEnany posted a memo from President Trump’s doctor, Dr. Sean Conley, telling the public that Trump had tested negative repeatedly over the course of several days. Trump went ahead with his rally even as Dr. Anthony Fauci slammed the president for holding the rallies despite the chance of spreading COVID-19 (even after he repeatedly refused to weigh in on the potential impac … |
| Twitter Fined For Multiple Campaign Finance ViolationsTwitter Fined For Multiple Campaign Finance Violations Tyler Durden Tue, 10/13/2020 – 07:53 Attorney General Bob Ferguson announced Tuesday that Twitter would pay $100,000 to Washington’s Public Disclosure Transparency Account after violating state campaign finance disclosure laws. From 2012 to 2019, Twitter received nearly $200,000 for campaign ads but failed to follow Washington disclosure laws by unlawfully failing to maintain public records about the political ads that ran on the platform has resulted in a $100,000 fine. Jack Dorsey, Twitter’s chief executive, said in October 2019 that the social media platform would ban all political ads due to misleading messaging by some candidates.
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| Unemployment rate hits highest level in three yearsThe UK unemployment rate rose to 4.5% between June and August, official figures show. |
| Klarna apologises after backlash over emailPeople took to social media to demand where the payments company got their details despite never using the firm. |
| Lockdown: ‘I’ve got women working for me who are sobbing’Hospitality businesses warn of hardship and confusion as they battle with the latest restrictions. |
| Q2 preview: Infy may post up to 20% YoY growth in profit, raise FY21 guidanceInfosys investors should zero in on longer-term implications from Covid-19, commentary on capital allocation and mergers and acquisitions, revenue and margin outlook, update on pricing, revenue conversion of past deals, view on IT spending and demand pick up across verticals. |
| 7th tranche of Sovereign Gold Bonds opens: Should you invest?The Sovereign Gold Bond (SGB) Scheme 2020-21-Series VII, which opened for subscription from October 12 to October 16, is available at the issue price of Rs 5,051 per gram of gold.Earlier, the issue price for the bonds (Series VI), which were opened for subscription from August 31 to September 4, was Rs 5,117 per gram of gold. Going ahead, the SGB 2020-21 Series VIII will open for subscription during November 9-13.Here’s all you need to know about SGBs: |
| What should you do with your Vedanta shares now?Analysts believe commodity prices have been recovering, which bodes well for the company. Meanwhile, what the company will do with $3.15 billion that it borrowed from the market to fund delisting will also be keenly watched. |
| Metals Stocks: Gold prices pull back but bulls hope for future gainsGold futures early Tuesday head modestly lower, with bullion finding few reasons to add to its gains above the psychological round-number at $1,900. |
| London Markets: U.K. economy is set for a ‘dramatic slowdown,’ Deutsche Bank warns after jobless numbers riseThe U.K. economy is set for a dramatic slowdown due to a resurgence in infections and the ensuing new restrictions, according to a Deutsche Bank economist who commented after the latest data showed a rise in joblessness. |
| Recovery from global recession is slowing, and governments should not withdraw their support, IMF saysThe global economic rebound from the worst global recession since the Great Depression is losing momentum, and governments should not end their efforts to stimulate demand, the International Monetary Fund said Tuesday. |
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