10Nov2020 Pre-Market Commentary: Global Rally Fizzles, Nasdaq Tumbles As Pfizer Vaccine Skepticism Emerges, DOW Futures Up 130 Points And Falling, Nasdaq Makes A Dive Down 1.6%, WTI Moves Upward 40.52

Here is the current market situation from CNN Money

European markets are broadly higher today with shares in France leading the region. The CAC 40 is up 7.57% while London’s FTSE 100 is up 1.36% and Germany’s DAX is up 0.27%.

The Death Of Car Ownership: How Tech Is Killing The $3 Trillion Auto Industry

Uber and Lyft were the first to disrupt the $8 trillion global transportation industry by making car ownership less necessary and with the ride-hailing industry now worth $60 billion and on track to top $85 billion by 2023, the transportation revolution is well underway. But Uber and Lyft cant finish what they started. Their business models are broken. Theyve failed to grasp the enormity of the parallel revolution in ESG, or impact investing. And this is where the disruptors become the disrupted. A startup that launched

Irans Mega South Pars Gas Field Nears Completion

The net present value of Irans supergiant South Pars natural gas field has jumped from an estimated US$116 billion at this point last year to US$135 billion now, a senior oil and gas industry source who works closely with Irans Petroleum Ministry exclusively told OilPrice.com last week. The key reason behind this valuation boost is that progress across all areas of the development, including the controversial Phase 11, has picked up pace on the back of an increase in the involvement of various Chinese companies who operate under the

UAE Oil Major ADNOC Sees Oil Demand Reaching 105 Million Bpd Within Decade

Group CEO of the Abu Dhabi National Oil Company (ADNOC) on Monday forecast that oil demand will reach more than 105 million bpd within the next decade. Dr. Sultan Bin Ahmed Al Jaber, who also serves as the Minister of Industry and Advanced Technology, also said today at the Abu Dhabi International Petroleum Exhibition Conference (ADIPEC) that the petrochemicals sector should see healthy growth through 2050and beyond. According to OPECs most recent Monthly Oil Market Report, 2020 should see world oil demand at 90.3 million bpd. The

The True Cost Of The Global Energy Transition

$15 trillion: this is the amount of money to be invested in new power capacity globally over the next three decades. Most of this80 percentwill be poured into renewables. This certainly makes the energy transition far from cheap, but no oneat least no one reputableever said going green would be cheap. Yet the amount of investments to be directed towards expanding wind, solar, and associated systems will not be the only costs to be borne during the transition. There may well be steep environmental costs as well. BloombergnNEF,

Oman Looks To Raise $3 Billion Through Its Largest Oil Block

Middle Eastern oil producer Oman is looking to raise $3 billion in a debt issue next year via a new company expected to hold the countrys majority stake in its largest oil-producing block, Bloomberg reported on Monday, citing sources with knowledge of the matter. Oman, a non-OPEC oil producer which is part of the OPEC+ alliance, has been hit very hard by the oil price and demand crash earlier this year and is looking to raise additional funding while it is cutting government expenditure. In the latest move to plug its budget shortfalls,

3 Energy Stocks Better Than ExxonMobil

Oil prices jumped in early Monday trading on a new wave of optimism that a Covid-19 vaccine could be closer than ever to becoming a reality. WTI Crude was up 10.8% to trade at $41.16 per barrel after dropping to $35.80 about a week ago on news that Pfizer (NYSE:PFE) and BioNTech’s (NASDAQ:BNTX) Covid-19 vaccine candidate, BNT162b2, has been more than 90% effective in preventing infections in early efficacy tests. The oil and gas sector in general is showing major strength, with the Energy Select Sector SPDR ETF (XLE) having surged 11.8% in the

Beyonce, Peloton strike multiyear content partnership, sending bike maker’s shares higher

The bike maker Peloton announced Tuesday a multiyear partnership with singer-songwriter Beyonce, to produce exclusive content with her music.

Ulta Beauty strikes deal to open hundreds of shops at Target stores

Ulta CEO Mary Dillon said the retailers are “embracing a time of change to innovate and to lead” as the coronavirus pandemic shakes up shopping behaviors.

What President-elect Biden’s victory means for the future of Obamacare

Biden has promised to preserve Obamacare as well as build on it by expanding the number of people who are eligible for subsidies under the health law.

Singles Day sales to get tremendous lift from livestream events, as U.S. retailers play catch-up

Coresight Research has estimated the livestreaming market in China will bring in about $125 billion in sales this year, up from $63 billion in 2019.

Pizza Hut to launch Beyond Meat sausage topping in the U.S.

Pizza Hut just added Beyond Meat’s meat-free sausage to its menu in the U.S.

Coming months will be ‘very rough,’ U.S. doctor says despite good news on Covid-19 vaccine

It will take time before a coronavirus vaccine is available to the public and the months between now and then will be difficult, said epidemiologist Syra Madad.

Not wanting to be outdone by Pfizer, Putin says Russia is about to register a third Covid vaccine

Russian President Vladimir Putin has said that Russia is about to register its third vaccine against the coronavirus, according to Russian news agencies.

Eli Lilly’s coronavirus antibody treatment will be needed even if there is a vaccine, CEO says

“I am so pleased to hear about Pfizer’s news yesterday, and we hope that makes us obsolete. I don’t think it will,” Eli Lilly CEO Dave Ricks told CNBC.

The Covid pandemic is worse than 2008 crisis for a majority of Americans, study says

A majority of U.S. adults say the Covid-19 economy is worse than the 2008 Great Recession, according to a Edelman Financial Engines 2020 Financial Insights study.

McDonald’s ‘McPlant’ announcement spooked Beyond Meat investors, analyst says

Shares of Beyond Meat cratered as much as 28% Monday in after-hours trading.

Simon Property CEO says mall owners treated ‘unfairly,’ as El Paso location shut with Covid cases on the rise

Simon Property Group was asked to close its Cielo Vista mall in El Paso, Texas, as Covid-19 cases in the area rise, Chief Executive David Simon said Monday.

CBS reality shows must now have 50% non-White casts, network says

CBS’ slate of reality shows, which include “Survivor,” “Big Brother” and “Love Island,” will become more diverse in 2021.

Coronavirus ‘is about to explode’ before therapeutic counterattack, Dr. Scott Gottlieb says

Former FDA chief Dr. Scott Gottlieb discusses the latest announcements when it comes to Covid-19 vaccines, and what it means for the broader population.

European Commission Slaps Amazon With Antitrust Charges Over Merchant DataÂ

European Commission Slaps Amazon With Antitrust Charges Over Merchant Data Tyler Durden Tue, 11/10/2020 – 08:39

One day after the European Union said it would impose tariffs on $4 billion of U.S. goods, the European Commission, on Tuesday morning, announced antitrust charges against Amazon over how it manages platform data from third-party sellers that may give it an unfair advantage when selling its products, reported NYT.Â

Margrethe Vestager, the European commissioner who oversees the competition across the 27-nation bloc, said Amazon has distorted competition in the online retail market by exploiting its dual role as an e-commerce platform provider and retailer. The e-commerce giant uses merchant data from its own platform to gain an unfair competitive advantage when selling its own products.Â

Don’t Get Too Excited…

Don’t Get Too Excited… Tyler Durden Tue, 11/10/2020 – 08:20

Authored by Lance Roberts via RealInvestmentAdvice.com,

In Mid-August, I posited a potential bullish run on the S&P index to 3750. For that to occur from the levels we discussed then, several things would have to happen. One of those was a œvaccine.  Yesterday, the market surged higher on news the Pfizer was close to delivering a COVID-19 vaccine. Such sent investors scrambling on hopes that a vaccine will set the course for continued economic recovery.

In yesterday’s post, œInvestors Ignore Evidence,  we discussed the problems with the œfundamental backdrop.  Most notably was the more extreme valuation of the market currently. To wit:

œThere are two crucial points to take away from the data.

There are several periods throughout history, where market returns were not only low but negative. (Given that most people only have 20-30 functional years to save for retirement, 20 years of low returns can …

Global Rally Fizzles, Nasdaq Tumbles As Pfizer Vaccine Skepticism Emerges

Global Rally Fizzles, Nasdaq Tumbles As Pfizer Vaccine Skepticism Emerges Tyler Durden Tue, 11/10/2020 – 08:04

The 6-day rally which pushed US indexes briefly to all time highs on Monday, fizzled as worries about the extent of the COVID-19 pandemic’s economic impact resurfaced coupled with second thoughts about just how effective the Pfizer vaccine truly is.

German ZEW: A First Glimpse Of The Consequences Of The Second Nationwide Lockdown

German ZEW: A First Glimpse Of The Consequences Of The Second Nationwide Lockdown Tyler Durden Tue, 11/10/2020 – 07:28

Submitted by Christopher Dembik, Head of Macro Analysis at SaxoBank

Summary: The German November ZEW Survey is at the top of the economic calendar today, but it did not really drive market sentiment as investors are still focusing on Pfizer vaccine news and hopes of swifter economic recovery in 2021.

Today’s German November ZEW report is one of the most important data set released this week. It gives us a first glimpse of the consequences of the second nationwide lockdown on economic expectations. Aligned with consensus, all the main components of the survey for November are declining, reflecting the impact of the new partial lockdown or light lockdown decided by the German government to contain the second wave of the virus. The current situation assessment is deteriorating again, sliding 4.8 points to land at minus 64.3 versus expected at minus 65.

Amazon charged with abusing EU competition rules

The EU says the platform is using data on third-party sellers to gain an unfair advantage.

UK unemployment rate continues to surge

Redundancies rise to a record 314,000 as coronavirus continues to hit the jobs market.

Bisto and Ambrosia custard-firm Premier Foods sees Covid boost

Premier Foods says it has attracted a million new customers as people turn to comfort foods in the crisis.

Gold loan market expanding fast, to reach Rs 4.6 lakh crore in FY22

The trend is expected to continue and help the organised gold loan market to grow 15.7% a year to reach $62.8 billion, or about Rs 4,61,700 crore, in 2021-22 from $47 billion, or Rs 3,44,800 crore, in 2019-20, a report released by the World Gold Council on Tuesday said.

12 stocks that can deliver solid returns in next few weeks

The benchmarks Sensex and Nifty logged fresh highs on Monday, cheered by Joe Biden’s election as the next President of the US, sign of green shoots in Indian economy and better-than-anticipated Q2 numbers. Yet, market analysts believe that investors must not chase momentum blindly and adopt a buy-on-dips approach. “We suggest maintaining a œbuy on dips approach and keeping extra caution in selection of stocks,” said Ajit Mishra of Religare Broking.Here are 12 stocks that analysts say can deliver solid returns in the next few weeks:

ETMarkets survey: Analysts’ tips on how to invest Rs 1 lakh this Diwali

A dozen of brokerages in an ETMarkets’ Diwali survey suggested going in for a diversified portfolio with an average of 40-70 per cent allocation to equity; 5-15 per cent to gold and 15-40 per cent to bonds.

: Joe Biden wants a $15 minimum wage ” here’s what’s standing in his way

Raising the minimum wage will ‘reduce the racial wage gap because more people of color will get raises.’

Mark Hulbert: Keep your politics out of your stock-market investment decisions

Democrats turned pessimistic about the stock market after Donald Trump won four years ago, and Republicans may be doing the same now.

Metals Stocks: Gold prices pop higher a day after sharpest daily drop in 7 years

Gold futures rise early Tuesday, as the precious metal attempts to recover a portion of the decline from the sharpest daily drop in seven years.