Written by Gary
Pandemic Emergency Jobless Claims Soar As California Cleans Up Fraud (spy down -0.03% flat). Volatility hits stocks on stimulus wait, 10-Year Treasury hits 5-month high.
Here is the current market situation from CNN Money | |
European markets are mixed. The FTSE 100 is higher by 0.03%, while the CAC 40 is leading the DAX lower. They are down 1.53% and 0.14% respectively. |
What Is Moving the Markets
Here are the headlines moving the markets. | |
Why Natural Gas Is The Most Important Fuel Of the Next DecadeNatural gas could be the single most important energy source of the next decade. For investors who want both profitability and longevity, the natural gas sector is the very first place to look. The math is simple: Big banks are fleeing oil. The coal industry is in terminal decline. And renewable energy is years or even decades away from meeting global demand. So while the multi-trillion-dollar ESG trend is cutting off financing for oil and coal, the global energy transition to renewables is helpless without a bridge fuel. | |
Saudi Arabia Is Suffering The Consequences Of Its Failed Oil Price WarNine months on from Saudi Arabias second major oil price war in the last five years, more negative consequences are manifesting themselves. Aside from the irrevocably damaged core relationship with the U.S., the permanent distrust of international investors, and the further alienation of many of its fellow OPEC members, Saudi Arabia is now beginning to discover the true depth and breadth of damage that it has done to its own economy, which will endure for many years to come. Figures released at the end of September show that Saudi | |
Western Canada Oil Production Rebounds As U.S. Oil StagnatesMost of Western Canadas oil production has been restored, according to the Canada Energy Regulator, but U.S. oil producers havent had as much luck. Both countries had to curtail oil production in May due to low oil prices amid the coronavirus pandemic and the oil price war waged by Saudi Arabia and Russia. The Canada Energy Regulator (CER) now says that about 700,000 barrels of oil production per day has been brought back online after it was forced to cut nearly 1 million barrels per day back in May. The total curtailments as of October | |
Tech Breakthrough Promises Hydrogen Gas From Plastic WasteThe plastics and petrochemicals industry could, in an ironic twist, get a boost from a new technology that scientists say can turn plastic waste into the holy grail of hydrogen gas. The Great Pacific Garbage Patch has remained solidly in the public portfolio of nightmares since it was discovered more than 30 years ago. It is, after all, a collection of marine debris twice the size of Texas. We try to closet it in the recesses of our minds, but its a losing battle with existentialism. Its still thereand growing by | |
NASA, Energy Department Boost Cooperation In Space ProjectsThe U.S. Department of Energy and NASA signed on Tuesday a memorandum of understanding to expand their cooperation in civil energy-related activities in space. NASA and DOE are continuing their partnership that started over 50 years ago and will jointly pursue collaboration in space activities that could include applied energy and energy-related research and development, space science, earth science, space technology, and computing and modeling, according to the new memorandum of understanding. The parties will also continue to identify | |
China’s Crude Imports Become Backbone Of Oil Price RecoveryThe worlds largest oil importer, China, will continue to have a significant impact on the oil market in the coming months, as most of the rest of the world continues to battle a second coronavirus wave that has stalled the already fragile global oil demand recovery. China is likely importing now the last of the cheap crude its refiners snapped up in the spring when it took advantage of the lowest crude oil prices in nearly two decades. With the last of the delayed cargoes likely to discharge and clear customs in October, | |
American Airlines reports $2.4 billion net loss in third quarter, cuts cash burnAmerican Airlines posted another quarterly loss as coronavirus hit summer travel demand. | |
Coca-Cola earnings top estimates, despite 9% decline in revenueCoca-Cola reported a 6% decline in organic sales for its third quarter. | |
Southwest Airlines posts biggest-ever loss as coronavirus slams demandDespite its biggest loss ever, Southwest Airlines was able to cut its cash burn. | |
Target says it will hold your spot in line as it looks to make holiday shopping safer during Covid pandemicThe big-box retailer is adding more features, such as allowing shoppers to check if there’s a line outside of their store and dedicating more parking spots to curbside pickup. | |
Chipotle shares fall despite earnings beat, as robust delivery growth weighs on profitsShares of Chipotle, which has a market value of $38 billion, have risen 62% so far this year. | |
Microsoft, in climate pledge, to buy jet fuel made with waste oil for Alaska AirlinesMicrosoft is planning to buy alternative jet fuel for Alaska Airlines in an effort to offset business-travel emissions. | |
5 things to know before the stock market opens ThursdayU.S. stock futures pointed to a mixed open as investors deal with earnings and jobless claims data, and uncertainty over stimulus talks and the election. | |
Coronavirus second wave is hitting Europe in very different ways. JPMorgan has a theory behind itThere’s no doubt that Europe is seeing a second wave of coronavirus infections, but the surge is not affecting its major economies in the same way, and JP Morgan has a theory why that may be. | |
‘Learn to live with the pandemic’: Physicians warn a vaccine may not prevent Covid-19 from becoming endemicTo date, more than 41 million people have contracted the virus, with 1.13 million related deaths, according to data compiled by JHU. | |
3 stocks perfectly sum up the ‘conundrum’ facing investors right now, fund manager saysThree stocks at the moment encapsulate the “conundrum” faced by equity investors and fund managers in 2020, according to Embark Group Chief Investment Officer Peter Toogood. | |
California theme parks could seek legal action to speed up reopeningCalifornia theme parks are exploring legal action in order to pressure the state into allowing amusement parks to reopen. | |
Why Germany’s coronavirus strategy might come back to haunt itGermany’s decentralized approach to managing the virus could prove tricky, one expert says. | |
Dodgers-Rays game one had the lowest TV ratings ever for a World Series gameThe first game of the 2020 World Series between the Los Angeles Dodgers and Tampa Bay Rays is the least watched World Series game since Nielsen began tracking ratings in 1968. | |
Pandemic Emergency Jobless Claims Soar As California Cleans Up FraudPandemic Emergency Jobless Claims Soar As California Cleans Up Fraud Tyler Durden Thu, 10/22/2020 – 08:35 After the previous week’s disappointing resurgence in initial jobless claims, this week saw the number of Americans filing for first time unemployment benefits plunged to 787k (870k exp) – the lowest since the pandemic lockdowns began… | |
Blain: The Market Has No MemoryBlain: The Market Has No Memory Tyler Durden Thu, 10/22/2020 – 08:25 Authored by Bill Blain via MorningPorridge.com, Why The Worry? œ Giving elected representatives the keys to the printing press is the equivalent of giving a gambling addict the keys to the casino. Equity Markets feel kind of lacklustre and dull at the moment. Despite a host of corporate news and developments (including the delicious threat of trust and monopoly action against Tech), there is an awful lot of negative noise out there holding back investors. On the plus side there are lots of reasons to be positive! The first thing to cheer about is there is absolutely nothing to worry about in terms of the trillions of additional sovereign debt being raised to fight the effects of the Coronavirus Pandemic. The extraordinary success of the EU’s SURE bond issue on Tuesday highlights how the rules on Sovereign Debt have changed. Governments worried about how they pay the costs of pandemic support measures and furloughs should take a good loo … | |
Futures Slide Ahead Of Final Debate, On Lack Of “Stimulus Optimism”Futures Slide Ahead Of Final Debate, On Lack Of “Stimulus Optimism” Tyler Durden Thu, 10/22/2020 – 08:19 S&P futures traded lower, alongside shares in Europe and most of Asia – but since rebounded from overnight lows – as worries about a delay to U.S. economic stimulus, surging virus cases across Europe and concerns about tonight’s final presidential debate and election interference weighed on sentiment. Investors also braced for another high level of weekly jobless claims, while with just 12 days to go until the US election and Europe’s struggle to contain second waves it’s become increasingly tricky for markets, according to Citi. As risk sentiment soured overnight, the USD bottomed out at yesterday’s lows, while oil and cryptocurrencies rose. | |
Hunter Biden Laptop Linked To FBI Money Laundering InvestigationHunter Biden Laptop Linked To FBI Money Laundering Investigation Tyler Durden Thu, 10/22/2020 – 08:09 During its initial round of reports involving emails and photos allegedly belonging to Hunter Biden, which had been gleaned from a laptop the political scion had allegedly abandoned at a Delaware computer-repair shop (some on the left insist that the material was hacked, but they didn’t dispute the authenticity), the New York Post confirmed that the FBI had taken the original laptop from John Paul Mac Isaac, the shop owner who originally reported the laptop after finding “disturbing content” on its hard drive. | |
New government Covid scheme to pay up to half of wagesChancellor Rishi Sunak increases support for firms and workers as lockdown restrictions spread. | |
Payment holidays: ‘I can’t afford to be out of work’People needing a break from paying bills owing to coronavirus pressures will be judged differently from 31 October. | |
British Airways owner IAG cuts flight numbers againAirline group IAG is reducing capacity further as it reports a hefty loss for the past three months. | |
SBI Card Q2 results: Net profit dips 46% to Rs 206 croreTotal provisions for NPAs and stressed loans more than doubled to Rs 862 crore from Rs 329 crore a year earlier, including an additional Rs 268 crore provision made in the second quarter, SBI Card said in a press release. | |
Jhunjhunwalas just picked up two new stocks, hiked stakes in 6 othersData showed the ace investor lapped up beaten-down auto firm Tata Motors for the first time. His name was not among the key shareholders of the company at the end of June quarter. | |
The lone bear on India’s biggest bank shrugs off profit beatHDFC Bank posted profit for the September-ended quarter that beat the average analyst estimate by 17%. Its gross bad-loan ratio narrowed, but that was thanks to regulatory exemptions that make it difficult to read asset quality trends, Pankaj Agarwal said. | |
: Average holiday spend per U.S. household expected to drop 7%, Deloitte saysSpending will fall even though the majority of consumers are in better financial shape | |
Deep Dive: The high yields on municipal bonds are tempting, but you need to be mindful of these hidden risksIt’s best to hold your own bonds managed by a professional. | |
What’s Worth Streaming: ‘The Mandalorian’ returns, but what other streaming picks are worth paying for in October 2020?October could actually be a good time for budget-minded consumers to cut back on their subscriptions. |
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