Written by Gary
US reports more than 83,000 coronavirus cases two days in a row (SPY -1.5%). Stocks making the biggest moves premarket: Dunkin’ Brands, AstraZeneca, Hasbro.
Here is the current market situation from CNN Money | |
 | European markets are mixed. The CAC 40 is higher by 1.20%, while the DAX is leading the FTSE 100 lower. They are down 2.74% and 0.47% respectively. |
What Is Moving the Markets
| Here are the headlines moving the markets. | |
 | Big Profits Are No Longer The Top Priority For Oil InvestorsFor years, the oil industry drew in investors with sizableand regularreturns. Even when oil prices fell, Big Oil found ways to keep paying dividends, even if it had to cut them, which happened only in extreme cases. Now, it is becoming increasingly clear that dividendsand profitsare no longer king. Today’s investors want other things from their oil investments. Returns are not what they used to be To be perfectly fair, returns are still important. They are just not the only reason for an investor to buy into or stay |
| Hydrogen Boom Could Lead To New Platinum Bull MarketThe diesel industry is dying, and it’s taking platinum down with it. Platinum prices have merely been treading water since the Dieselgate scandal thanks to diesel vehicle sales in Europe going on a five-year freefall. The automotive industry is the biggest consumer of platinum, with 44% of the world’s supply of the precious metal going into catalytic converters. But with a dramatic fall in demand, and now Covid-19, the prognosis appears bleak for platinum bulls. Or, maybe not. Whereas platinum is losing its most important customer in |
| North American Oil And Gas Bankruptcy Debt Has Hit An All-Time HighThe associated debt from North American oil and gas bankruptcies in 2020 has already reached an all-time high and is set to grow even further this year as the wave of Chapter 11 filings continues, a Rystad Energy report projects, analyzing industry data from law firm Haynes and Boone. Although the combined count of Chapter 11 filings from exploration and production firms (E&Ps) and oilfield service (OFS) companies this year in North America has so far reached 84, which is still lower than the historical high of 142 in 2016, the associated debt |
| Tesla Sets Its Sights On IndiaIndia has some major plans in store for developing the traffic- and smog-choked subcontinents electric vehicles market. Just last week, Indias Department of Heavy Industries released an expression of interest (EoI) invitation to the private sector to set up electric vehicle charging stations on major existing and upcoming expressways and highways running across the length and breadth of the country according to reporting this week by Money Control. This is part of the countrys ultra-ambitious plan to establish |
| 2021 Could Be A Much Better Year For Canadian OilIts been a really tough year for oil nations around the globe, but nearly no one has had it worse than poor Canada. On that infamous day, April 20th, when oil prices plunged below zero in a historic bottoming-out thanks to an oil glut, OPEC+ price war, and absolutely demolished demand due to the pandemic, Canadian oil prices actually dipped into the negatives hours before the West Texas Intermediate crude benchmark followed suit. Even before Black April, as some have started to call it, Canadian oil had hit a rough patch. Years of |
| The U.S. Has A Major EV ProblemEven a battery with a million-mile lifespan cant overcome one of the key hurdles to mass adoption of electric vehicles (EVs) in the United States and elsewherethe insufficient public charging infrastructure. The EV revolution is not only about car performance, choice availability, or price parity with internal combustion engine (ICE) vehicles. It also hinges on easy access to charging infrastructure to allay customer fears that they could be left stranded without battery power and without a charging point nearby. EV infrastructure |
| Hopes are rising for a potential Covid vaccine ” and Fauci says findings will be known by early DecemberDr. Anthony Fauci believes it will only be a matter of weeks before the findings of a potential vaccine will be known. |
| American Airlines plans customer tours of Boeing 737 Max and pilot calls to boost confidence in jetsAmerican Airlines is planning to give customers a chance to view the Boeing 737 Max before it flies commercially |
| AstraZeneca says its coronavirus vaccine triggers immune response among adultsThe announcement is likely to boost hopes of a Covid vaccine being developed before the end of the year. |
| How Aston Martin is trying to save its iconic brandTwo years after Aston Martin’s initial public offering, shares are trading at a fraction of a dollar. The company is looking to its DBX sport utility vehicle to help turn things around. |
| Dr. Scott Gottlieb: U.S. at Covid ‘tipping point’ but can still prevent new ‘exponential spread’Implementing targeted restrictions right now could “potentially forestall” an even worse coronavirus outbreak during the fall and winter months, the former FDA chief told CNBC on Monday. |
| Stocks making the biggest moves premarket: Dunkin’ Brands, AstraZeneca, Hasbro & moreDunkin’ Brands is talking about going private. Bank of America says Winnebago will keep benefiting from the recent RV craze. |
| Worried about contested election? Here’s what went down in stocks during 2000 Bush-Gore battleIf you’re worried about the Dow and S&P crashing on a contested 2020 election, the Bush-Gore battle of 2000 is the only recent guide. Stocks did tank, but the reasons are complicated. |
| 5 things to know before the stock market opens MondayIt’s a busy week ahead on Wall Street with about a third of the S&P 500 companies reporting earnings and the government releasing its first look at third-quarter GDP. |
| Universal mask wearing could save almost 130,000 lives from coronavirus, epidemiologist saysThe University of Washington global health professor told CNBC that people across the U.S. “need to change” their behaviors. |
| Joe Biden calls climate change the ‘number one issue facing humanity’Scientists say that Joe Biden’s plan to transition from fossil fuels to renewable energy is required to avoid the most catastrophic consequences of climate change. |
| U.S. may be entering its ‘most dangerous time’ in the pandemic as winter approachesThe U.S. may be entering a more dangerous period in the coronavirus crisis as the country heads into colder weather, warns Andy Slavitt, former acting administrator at the Centers for Medicare and Medicaid Services. |
| Tesla is reportedly shipping 7,000 made-in-China cars to EuropeTesla will begin sending made-in-China Model 3 electric cars to Europe on Tuesday, according to Chinese media reports. |
| U.S. reports more than 83,000 coronavirus cases two days in a row as experts warn of difficult winterThe U.S. reported more than 83,700 new Covid-19 cases on Friday, passing the last record seen in mid-July, according to data compiled by Johns Hopkins University. |
| China’s Ant Group To Raise $34 Billion In Biggest-Ever IPOChina’s Ant Group To Raise $34 Billion In Biggest-Ever IPO Tyler Durden Mon, 10/26/2020 – 08:37 China – which is set to surpass the US as the world’s largest economy some time in the next decade if it hasn’t done so already – is about to set another record, this time in the capital markets. Jack Ma’s Ant Group is aiming to raise at least $34.4 billion through initial concurrent public offerings in Shanghai and Hong Kong, a “blockbuster” listing that will rank as the world’s biggest share sale ever surpassing Saudi Aramco’s $29 billion IPO last year, and cementing Ant Group’s status as one of the most valuable companies in the fintech sector. The financial technology company, which is controlled by Alibaba’s billionaire founder Jack Ma, priced its Shanghai stock at 68.8 yuan ($10.27) apiece and its Hong Kong shares at HK$80 ($10.32) each, valuing the company at about $280 billion before it makes its market debut on November 5. Those sums would eclipse the $25 billion raised in 2014 by its former parent Alibaba and the $29.4 billion of shares sold more recently by Saudi Aramco, in what is to date the largest-ever IPO. Ant could also raise up to a maximum of about $5.2 billion more, if underwriters exercise their option to purchase up to 15% more shares in the overallotment. That would give Ant a valuation of over $320 billion, making it bigger … |
| “Holy Sh*t!”: Videos Of Tesla’s Full Self Driving Beta Are Surfacing And They’re Frightening“Holy Sh*t!”: Videos Of Tesla’s Full Self Driving Beta Are Surfacing And They’re Frightening Tyler Durden Mon, 10/26/2020 – 08:35 It was just days ago we noted that after Tesla released its much awaited “Full Self Driving” beta that it had also warned drivers that the software “may do the wrong thing at the worst time.” Now, videos have started to surface of users “beta testing” FSD on city streets – and the results are alarming. Several videos show software that clearly seems inadequate, confused and outright dangerous. Most importantly, the software is being used on roads where other surrounding drivers have not consented to being part of a beta test. Again, where is the NHTSA? One video shows a driver saying “this is kind of challenging” approaching an intersection with construction. His Tesla display seems to show the vehicle unsure of whether it is turning left or right, before the car makes an awkward left turn, which the driver appears to have to assist with.
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| Blain: The Election, The Pandemic, & Brexit Are All DistractionsBlain: The Election, The Pandemic, & Brexit Are All Distractions Tyler Durden Mon, 10/26/2020 – 08:21 Authored by Bill Blain via MorningPorridge.com, œAll that glitters is not gold.. What’s the recipe for this week then? All eyes will be focused on the US: What are the polls telling us? How right/wrong are the odds? What are individual states hinting at?  Will Trump lose the plebicite in terms of a couple of million votes, but still hold on the presidency via the maths of the electoral college?  Who will control the senate?  If Trump loses will he go quietly?  And then you get to the interesting stuff ” what’s likely to happen to the US economy? Taxed into oblivion by a new Biden presidency, take off on new or renewed leadership, or carry on as before down the road to nowhere? One interesting thing has been the failure to agree a new stimulus package ” œmoving goal-posts apparently.. Surprisingly, in the absence of more government largesse, the Economy has not collapsed and markets have not cratered.  Is that because the markets think a new package is nailed on post-vote? Worth thinking about perhaps ¦ it could be new year! Plenty of oth … |
| Futures Tumble, European Tech Stocks Plunge Amid Surging Virus Cases, Reflation Trade FearsFutures Tumble, European Tech Stocks Plunge Amid Surging Virus Cases, Reflation Trade Fears Tyler Durden Mon, 10/26/2020 – 08:08 US equity futures, European tech stocks and global shares were hit hard on Monday as surging coronavirus cases in Europe (over the weekend, Spain announced a national curfew) and the United States clouded the global economic outlook, while sliding odds of a “Blue Wave” according to online bettor PredictIt sparked fresh doubt in the reflation trade; meanwhile China’s leaders meet to ponder the future of the world’s 2nd largest economy. Emini futures dropped as much as 1.1% in early Monday trading. |
| Post Office says a third of its cash machines will closeThe move raises concerns that rural and deprived communities face being cut off from access to cash. |
| Facebook, Google and Microsoft ‘not paying enough tax in developing world’Facebook, Google and Microsoft should pay a global minimum rate of corporate tax, an aid charity says. |
| BHS collapse: ‘I was in charge of millions, then I had nothing’Four years on from BHS’s collapse, has the audit industry, criticised for not spotting problems, changed? |
| Grey market cold to Equitas SFB on lack of HNI interest, cloud over financialsThe qualified institutional investors segment was subscribed 3.9 times, the retail investors category 2.08 times and the non-institutional quota 22 per cent. |
| Gland Pharma gets Sebi’s go-ahead to float IPOThe company filed draft papers in July and obtained Sebi’s observation on October 19 to float an IPO, an update with the capital markets showed on Monday. |
| Kotak Bank Q2 profit jumps 26% YoY, beats Street estimatesAnalysts polled by ET NOW had projected a profit figure of Rs 1,600 crore. |
| September 2020 CFNAI Super Index Moving Average Index Continues To Suggest A Marginal Slowing Of The Economic Rate Of GrowthWritten by Steven Hansen The economy’s rate of growth marginally slowed based on the Chicago Fed National Activity Index (CFNAI) 3 month moving (3MA) average – but the economy remains above the historical trend rate of growth.
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| Metals Stocks: Gold struggles for direction as dollar gains groundGold futures flip between small gains and losses. |
| : Europe tightens restrictions in desperate race against second wave of COVID-19The local and regional lockdowns in most European countries now threaten the region with another devastating economic blow. |
| London Markets: Pearson buoyed by upgrade as U.K. blue chips falterPearson was the best performing U.K. blue chip on Monday, rising after a key broker upgraded the stock to buy. |
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