16Oct2020 Market Close: Treasury Yields Push Higher After Stronger-than-expected US Retail Sales, DOW Closes Higher 112 Points, Nasdaq Closes Down -04%, WTI Crude Settles At 40.71

Dakota Access Oil Pipeline Clears Hurdle To Doubling Capacity

Illinois approved this week the plan for the Dakota Access Pipeline to double its capacity from 570,000 bpd to 1.1 million bpd, thus becoming the last state along the pipelines route to give its consent to the expansion. Dakota Access, which has seen a lot of controversy since its inception and initial start-up in 2017, now has the approval of all four states through which it passesNorth Dakota, South Dakota, Iowa, and Illinoisto expand its capacity. While the approval of the Illinois Commerce Commission is seen as a win for

Argentina Looks To Attract $5B Investment To Boost Shale Gas Production

Argentina unveiled this week a new plan for natural gas development, looking to attract US$5 billion in company investments to revitalize gas production in the Vaca Muerta shale play and make Argentina independent from natural gas imports. The plan, presented on Thursday in the Neuqun province home to Vaca Muerta, aims to stop the production decline, replace Argentinas natural gas imports, boost investment by attracting US$5 billion, and increase tax collection by US$2.525 billion. The gas development plan will also aim to boost

COVID Kills Another Oil Rally

Yet another oil price rally has been cut short by COVID, with cases climbing in both the U.S. and across Europe as hopes of speedy oil demand recovery fade.For Global Energy Alert members there are now two new free reports available in your dashboard. The first of these reports is on how to interpret stock charts and the second outlines the three biggest mistakes made by traders today. Make sure you become a member to read these reports and many more.Friday, October 16th, 2020Oil prices retreated once again on concerns about the second wave in

U.S. Oil Rig CountLeaps Higher

Baker Hughes reported on Friday that the number of oil rigs in the United States rose by 12 to 205a gain that may push prices down further. The total number of active oil and gas rigs increased for the week by 13, with oil rigs rising by 12 and gas rigs rising by 1. Total oil and gas rigs in the United States are now down by 569 compared to this time last year. The EIAs estimate for oil production in the United States fell during the week ending October 9the last week for which there is data, to 10.5 million barrels of oil

Can U.S. Shale Rebound?

1. Upside potential for beaten-down energy stocks- Oil and gas markets are far from healthy, but with crude prices stable and natural gas prices on the rise, drilling and completion activity could grind higher, according to Morgan Stanley. – Capex will likely remain flat in 2021, but will increase in 2022 and 2023, the bank believes. – Key risks to the oilfield services sector include pandemic-related shutdowns, election risks and OPEC behavior. But upside risk includes the possibility of industry consolidation, which would improve supply-side

Oil Markets Are In For A Second Round Of Trouble

WTI prices are drifting lower on Friday after posting a volatile trade all week. Reports from the IMF, IEA and OPEC all centered on the same theme. The proper steps were made by the experts at the start of the pandemic to stabilize prices, but more is going to have to be done to take the global economy to the next level. Furthermore, governments are going to have to control the pandemic or the energy sector could face further destruction. The experts all seem to agree that the fiscal and monetary stimulus thrown at the global economy in April,

WHO concerned about Europe’s coronavirus outbreak as ICU beds near capacity in some regions

When adjusting for population, the number of new coronavirus infections in Europe has now overtaken that in the United States.

States face Friday deadline from CDC to submit plans to distribute coronavirus vaccine

States have about two weeks to set up coronavirus vaccine distribution centers across the country to meet the Nov. 1 deadline set by the CDC ” a monumental undertaking made even more difficult by the fact that a vaccine hasn’t been cleared.

Coca-Cola to retire Tab, its first diet soda, as it trims its portfolio

Coca-Cola said Friday that Tab, its first diet soda, is among the drinks headed for retirement as it trims its beverage portfolio.

Dr. Scott Gottlieb dismisses inaccurate take on CDC data cited by Trump to question Covid masks

“Masks are not a panacea, but they’re going to afford you a level of protection,” the former FDA chief in the Trump administration told CNBC on Friday.

Remdesivir has ‘little or no effect’ in reducing coronavirus deaths, WHO says

A study coordinated by the World Health Organization has indicated that remdesivir, along with three other potential drug treatments for the coronavirus, has “little or no effect” on death rates among hospitalized patients.Â

TikTok is driving massive toy sales as play dates become less frequent during pandemic

Social media has long been used by toy companies to reach kids, but as the coronavirus pandemic has taken play dates and recess off the table, apps like TikTok have become more important than ever.Â

Ford really needs its F-150 pickup to stay on top

The Ford F-150 has been the bestselling vehicle in America for 38 years, and it is regarded as a huge profit machine for the second-largest automaker. Ford needs it now more than ever.

Treasury encouraged banks to prioritize PPP loans for existing clients, hurting minority and women-owned small businesses, House report says

Limiting PPP lending to existing customers disproportionately hurt minority and women-owned business, a House oversight subcommittee reports.

Trump administration announces deal with CVS and Walgreens to administer coronavirus vaccine to seniors in long-term care

CVS Health and Walgreens will administer coronavirus vaccines to the elderly and staff in long-term care facilities, if and when a vaccine is approved for public use.

Boeing 737 Max is safe to fly again, Europe’s aviation regulator says

The head of the European Union Aviation Safety Agency said the Boeing 737 Max is safe to fly again.

British Airways fined £20 million for data breach that affected over 400,000 customers

British Airways has been fined £20 million ($26 million) by the U.K.’s Information Commissioner’s Office over a data breach which occurred in 2018.

Hotels on demand: Operators are selling ‘subscriptions’ to lure back visitors

InterContinental Hotels Group, Marriott and Accor are among the major names that have launched or are considering monthly payment plans, as the hotel industry tries to attract restless remote workers ready for a change of scene.

Meet the dairy firm hoping to power its delivery trucks using cow manure

It is hoping one of the ways it will get there is by harnessing one of its most readily-available resources: the manure produced by the half a million cows on its U.K. farms alone.

VIX & Stocks Rise On Week; Banks Puke Ahead Of Black Monday Anniversary

VIX & Stocks Rise On Week; Banks Puke Ahead Of Black Monday Anniversary Tyler Durden Fri, 10/16/2020 – 16:01

Nothing to worry about… Monday will be the 33rd anniversary of the 1987 Black Monday collapse in stocks…

FBI Investigating Whether Hunter Biden Emails, Photos Were Part Of “Russian Influence Operation”

FBI Investigating Whether Hunter Biden Emails, Photos Were Part Of “Russian Influence Operation” Tyler Durden Fri, 10/16/2020 – 16:00

That didn’t take long at all.

Two days after the NY Post published its first bombshell exposà including never-before-seen emails and photos detailing Hunter Biden’s shady business dealings and drug-addled personal life, the Associated Press has published the first anonymously-sourced story claiming the FBI is looking into whether the emails and materials published by the NY Post were “hacked” by Russian agents, as the entire left-wing media has alleged.

Specifically, they’re investigating whether the photos and emails were part of a “Russian influence operation,” according to the AP’s unnamed main source.

The episode is being investigated as part of a possible Russian influence operation, according to a person familiar with the matter who spoke on condition of anonymity to The Associated Press to discuss an ongoing matter. It underscores the extent to which Giuliani, through his activities, is a risk to a White House that spent years shadowed by a federal investigation into whether Trump associates had coordinated with Russia.

The authenticity of the emails remained unclear as of Friday, including whether they were hacked or possibly forged or both. Giuliani did not respond to an Associated Press re …

If Congress Can’t Pass More Stimulus, Here Is What Else The Fed Can Do

If Congress Can’t Pass More Stimulus, Here Is What Else The Fed Can Do Tyler Durden Fri, 10/16/2020 – 15:53

Now that nothing short of a miracle is needed to pass a new fiscal stimulus deal before the election – with Democrats and Republicans unable to reach a compromise deal even as Trump appears to have broken away from Senate Democrats and is siding with Nancy Pelosi in demanding a “big number” – attention is turning to life after the election, where bulls point to a Blue Sweep as unleashing as much as $7 trillion in fiscal spending over the next few years, an amount which Goldman believes will be more than enough to offset the adverse impact on stocks from higher corporate and capital gains taxes.

But what if there is no “blue wave”, and we get 4 years gridlock instead which can happen with either with another 4 years of president Trump and a Democratic Congress, or with a Biden presidency where GOP keeps the Senate, the two adverse cases recently modeled by Bank of America, which termed these the “Stagnation” and “Deflation” scenarios, respectively?

CEOs Of Facebook, Twitter, Google Will Attend Oct. 28 Senate Hearing

CEOs Of Facebook, Twitter, Google Will Attend Oct. 28 Senate Hearing Tyler Durden Fri, 10/16/2020 – 15:43

At least two of the tech titans who appeared before the House Antitrust Subcommittee back in July will return to Capitol Hill on Oct. 28, accompanied this time by Twitter’s Jack Dorsey, as they sit for a hearing before the Senate Commerce Committee, to dig into what happened this week as Big Tech – Facebook, Twitter and Google – appeared to blatantly and aggressively work together to smother a story about Hunter Biden’s seedy international business dealings which included incriminating emails and photos that the MSM has denounced as “hacked”.

Though there’s so far no evidence that the materials published by the NY Post were obtained by hackers, the tech companies continued with the practice for at least two days, until Jack Dorsey earlier apologized for the second time.

All three CEOs agreed to appear voluntarily.

It’s official. Dorsey, Pichai and Zuckerberg at Senate Commerce on Oct. 28. As previously reported, the CEOs voluntarily agreed to testify. pic.twitter.com/Y5FkdCttLh

” Brian Fung (@b …

Brexit: Trade talks with the EU are over, says No 10

“No point” in further discussions with the EU unless it changes course, Downing Street says.

Pret A Manger and Edinburgh Woollen Mill to cut 1,000 jobs

The pandemic has claimed the jobs of another 1,000 shop workers as more stores shut across the country.

Israel-UAE peace deal ‘big’ for trade in Middle East

Israel’s UAE and Bahrain peace deals are “going to be big” for business, says DP World boss.

HDFC Bank Q2 results preview: Lender may post up to 17% growth in net profit

The bank on October 5 informed bourses that its advances in the September quarter grew 15.60 per cent and deposits witnessed a growth of 20 per cent YoY. Similarly, the current account savings account (CASA) ratio of the bank increased 270 basis points year-on-year to 42 per cent in Q2FY21.

Equitas Small Finance Bank IPO: All you need to know

The Rs 500 crore IPO by Equitas Small Finance Bank (ESFB) will open for subscription on Tuesday. Here’s all you must know about the issue before subscribing:

Why the long-term outlook for India equities look so tempting

RBI expects growth to restart from March quarter and continue into FY22, though at lower-than-trend rate of growth. After every period of a major economic stress, India has bounced back strongly in the past.

: Why California’s unemployment system devolved into chaos during pandemic

A new report examines the failures of California’s Employment Development Department to help residents obtain their unemployment benefits during the COVID-19 pandemic.

: What will put the final nail in the fiscal stimulus coffin? The calendar, maybe

According to observers on and off Capitol Hill, the sheer logistics involved in a complicated, big package like the kind House Speaker Nancy Pelosi and Treasury Secretary have been trying to hammer out in recent weeks make it too late or almost too late to see it enacted by the Nov. 3 election day.

Bond Report: Treasury yields push higher after stronger-than-expected U.S. retail sales

U.S. Treasury yields rise Friday following a sharp increase in retail sales, helping ameliorate concerns that consumer spending would slow without further government support.