06Nov2020 Market Close: Stocks End Mostly Lower Friday, While The SP 500, Nadsaq Book Best Weeks Since April, DOW Closes Down 127 Points, Nasdaq Up But Flat, September 2020 Consumer Credit Expands

Coal Consumption In U.S. Electricity Sector Plunges 30%

Competition from record-low natural gas prices and reduced power demand in the lockdown in the spring sent coal consumption in the U.S. power sector down by 30 percent in the first half of 2020 compared to the same period last year, the U.S. Energy Information Administration (EIA) said on Friday. The spot price of the U.S. natural gas benchmarkHenry Hubhit record lows in the first half of 2020 due to mild winter early in the year and depressed demand later on with the pandemic. Monthly prices reached as low as $1.63 per million British

Coal Consumption In U.S. Electricity Sector Plunges 30%

While most of the world’s media is focused on the painfully slow progression of the U.S. presidential election, it’s COVID that’s impacting oil prices.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, November 6th, 2020At the time of this writing, Joe Biden held small leads in Pennsylvania, Georgia,

Alberta Strikes Methane Emissions Deal With Federal Government

Alberta has reached an agreement with Canadas federal government to have its own provincial regulation on methane emissions, which will save the energy industry money and avoid red tape, the provincial government said on Thursday. Instead of having federal and provincial regulations on methane emissions, Alberta will now have only provincial rules on tackling methane emissions, whose largest source in the province is the oil and gas sector. Around three-quarters of Albertas methane emissions come from the upstream oil and gas industry.

U.S. Oil Rig Count Rises During Election Week

Baker Hughes reported on Friday that the number of oil rigs in the United States rose by 5 to 226. The total number of active oil and gas rigs increased for the week by 4, with oil rigs rising by 5 and gas rigs falling by 1. Total oil and gas rigs in the United States are now down by 517 compared to this time last year. The EIAs estimate for oil production in the United States fell in the week ending October 30from 11.1 million barrels in the week prior to 10.5 million barrels of oil per day in the most recent reporting period. U.S.

Increasing Uncertainty Caps Oil Price Gains

U.S. West Texas Intermediate crude oil futures are trading lower on Friday, pressured by the steady rise in coronavirus infections and as the outcome of the U.S. presidential election remains unsettled. Nonetheless, the market is expected to finish the week higher after reversing weakness. Near-term losses could be limited by expectations for a weaker U.S. Dollar and the possibility that OPEC and its allies could take action to stabilize or increase their current production cuts. Heightened Demand Worries in Europe Helping to drive the market

Another Poor Earnings Season For Oil & Gas Companies

COVID Market Update More oil and gas companies reported their quarterly financials this week, and it’s more of the same unfavorable news as the companies struggle to churn profits or at a minimum, beat analyst expectations as oil prices continue range-bound at sub-$40 levels. – First on our list is Texas-based shale driller Diamondback Energy (FANG.O), which reported its third quarterly loss this week. Its Q3 production was 287,315 boe/d, with total equivalent prices averaging a disappointing $26.75 per barrel. Diamondback reported a net loss of

Peloton says recent spike in Covid-19 cases, lockdowns are boosting sales

“The recent spikes in Covid cases and newly imposed lockdowns … have had a significant positive impact on sales,” Peloton CFO Jill Woodworth said.

Famed luxury carmaker Bentley to go fully electric by 2030

Bentley plans to exclusively offer plug-in hybrid and electric vehicles by 2026 and fully electric models by 2030, the British luxury carmaker said Thursday.

Peloton shares fall despite earnings beat as bike maker warns of ongoing supply constraints

Peloton raised its financial outlook for fiscal 2021, now expecting to report $3.9 billion or more in total revenue.

It won’t be a year without a Santa Claus, as malls turn to portable igloos and virtual visits to save the holiday tradition

Few kids will be sitting on Santa’s lap this holiday season, due to the precautionary measures that have been born out of the coronavirus pandemic.

GM plans to increase pickup truck production with up to $1 billion investment in Canada

The investment in the plant in Oshawa, Ontario, is part of a tentative deal with Canadian union Unifor.

Johnny Depp exits ‘Fantastic Beasts’ franchise, Warner Bros. will recast

Actor Johnny Depp will no longer don the robes of dark wizard Gellert Grindelwald in Warner Bros.’ “Fantastic Beasts” films, the actor announced Friday.

Virgin Galactic says each spaceport it launches from is a $1 billion annual revenue opportunity

Virgin Galactic CEO Michael Colglazier on Thursday said he sees the company bringing in up to $1 billion in annual revenue per spaceport in the years ahead.

Trump’s ex-FDA chief: ‘Win or lose’ the election, administration must do more to fight Covid

“It’s not too late,” Dr. Scott Gottlieb told CNBC on Friday. “I think the vice president can get more engaged in trying to lead a national strategy.”

Op-ed: I left my job as CEO for 21 days to make a movie. Here’s the Hollywood ending

Ravin Gandhi, CEO of a kitchenware company, followed his dream of making a movie. The film is now headed to streaming services like Apple TV, Amazon Prime.

Here’s where the jobs are ” in one chart

CNBC studied the net change in employment by industry for October based on data from the Labor Department.

The health-care rally is just beginning, two traders say

Quint Tatro and JC O’Hara say these health-care names are poised for even more gains.

Stocks Soar To Best Election Week Since FDR, Gold Jumps, Dollar Dumps

Stocks Soar To Best Election Week Since FDR, Gold Jumps, Dollar Dumps Tyler Durden Fri, 11/06/2020 – 16:00

US equity markets roared higher this week (best week since April) as (monetary handouts) QE hopes replaced (fiscal handouts) blue-wave hopes. Nasdaq rallied a stunning 9.5% on the week (Small Caps and The Dow lagged – only managing to gain 7%!!)…

GOP Loses Bid To Toss ‘Flawed’ Ballots In PA; Biden Lead In Arizona Shrinks

GOP Loses Bid To Toss ‘Flawed’ Ballots In PA; Biden Lead In Arizona Shrinks Tyler Durden Fri, 11/06/2020 – 15:40

Update (1530ET): As we wait to hear more from Biden and/or his top campaign staff, here’s where things stand as of Friday afternoon on the East Coast.

Software ‘Glitch’ In Michigan Erroneously Gave 1000s Of Votes To Biden; Up To 47 Counties Compromised

Software ‘Glitch’ In Michigan Erroneously Gave 1000s Of Votes To Biden; Up To 47 Counties Compromised Tyler Durden Fri, 11/06/2020 – 15:40

Software used to tabulate votes cast in 47 Michigan counties erroneously gave 6,000 votes to Joe Biden in Anterim County, according to state GOP Chairwoman Laura Cox.

PA USPS Official Willing To Testify Under Oath Over Ballot-Backdating

PA USPS Official Willing To Testify Under Oath Over Ballot-Backdating Tyler Durden Fri, 11/06/2020 – 15:25

Authored by Joseph Jankowski via PlanetFreeWill.com,

A Pennsylvania United States Postal Service worker says they are willing to testify under oath over an apparent ballot backdating scheme that has played out at the public mail service, reports Jame’s O’Keefe of Project Veritas.

Edinburgh Woollen Mill collapse puts jobs at risk

The clothing chain and its sister company, Ponden Home, have been placed into administration.

Retailers criticise lockdown rules on essential items

A leading retail lobby group says government guidance over what products are essential is arbitrary.

Sunny payday loan customers may get nothing in payouts

Some 500,000 Sunny customers were mis-sold payday loans by Sunny before it collapsed.

Stay positive. Goldilocks period ahead for market and economy

Given the trends seen in second quarter earnings, Q3 and Q4 results are expected to be stronger

Market Movers: RIL in fifth gear, banks upbeat; 154 stocks flash ‘buy’ signals

Shares of oil-to-retail behemoth RIL concluded the week on an upbeat note, after it received one more cheque for its retail unit, while benchmark Sensex rose 553 points to close at 41,893, and Nifty climbed 143 points to 12,264.

Should you pick active or passive fund? Hear it from an industry honcho

œThe biggest change in the US mutual fund industry is — it went from an industry where mutual funds were being sold to one where they are being bought. It is all about a shift in priority, Don Philips, Managing Director of Morningstar Inc, said at the Morningstar Investor Conference.

September 2020 Consumer Credit Expands

Written by Steven Hansen

Headline consumer credit expanded and was above expectations. Our analysis of the unadjusted data shows annual growth was insignificant and is barely in expansion year-over-year.

The Tell: How much of the stock market’s rise over the last 11 years is due to QE? Here’s an estimate

By driving down bond yields, quantitative easing has driven a large chunk of stock-market gains since 2009, but the impact varies widely across U.S. indexes, say analysts at Socià tà Gà nà rale.

The Margin: The votes are in, and this French bulldog was elected mayor of a Kentucky town

Meet Wilbur Beast, the pup elected mayor of Rabbit Hash, Ky., on Election Day

: Should I take a $1,913-a-month pension or a $445,000 lump sum?

You have a few things to consider, including how much money you need and how much risk you can tolerate.