10Nov2020 Midday Update: Wall Street Mixed As Vaccine Euphoria Abates, DOW Up 158 Points, Nasdaq Slides 1.0% After Big Tech Sells Off , WTI Crude Continues To Rise 41.02

Here is the current market situation from CNN Money

North and South American markets are mixed today. The IPC is up 4.06% while the Bovespa gains 1.73%. The S&P 500 is off 0.08%.

Pirate Attacks On Oil Tankers Off West Africa Intensify

Several oil tankers were attacked or approached with attempted attacks in the Gulf of Guinea off West Africa over the past few days, maritime security companies warn. Over the past six days, five such incidents took place in the area, in which four tankers were attacked by pirates, and one was approached while underway with the intent to attack, maritime security company Dryad Global said on Tuesday, warning of a critical risk for mariners in the Gulf of Guinea. Over the weekend, the Torm Alexandra was attacked offshore Benin, and the Wesley tanker

U.S. LNG Exports To China Expected To Grow Substantially

After a year of non-existent liquefied natural gas (LNG) exports from one of the fastest-growing global suppliers, the United States, to the fastest-growing world importer, China, American LNG cargoes started to travel again to China in March this year. Now U.S. exports of LNG are set to grow in the coming years, thanks to the first commercial U.S.-Chinese agreement for term supplies since the trade war that started in 2018 decimated American LNG exports to China, after Beijing slapped tariffs on the super-chilled fuel in retaliation to U.S

IEA: Renewables To Grow 7% In 2020

Renewable power generation capacity will increase by 7 percent this year despite a 5-percent forecast decline in global energy demand, the International Energy Agency said in its Renewables 2020 report. The agency also said the use of biofuels in industrial activity and transportation will decline this year, but the increase in renewables use will be strong enough to offset it, with the net increase in renewable energy demand seen at 1 percent. Unsurprisingly, investor appetite for exposure to renewable energy is also growing, the IEA noted in

Vitol CEO: Oil Prices Could Hit $50 In Near Future

Oil may hit $50 over the next few months thanks to a moderate decline in global inventories that will accelerate by mid-2021, the chief executive of Vitol, Russell Hardy said as quoted by Reuters. Oil prices have trended higher this week after Pfizer announced its vaccine candidate for Covid-19 had shown a 90-percent efficacy rate during late-stage trials. However, the sample of study participants the company looked at for this rate of efficacy is quite limited, at 92, to draw any major conclusions. Still, the immediate and strong reaction of oil

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

McDonald’s CEO Chris Kempczinski says the U.S. needs another Covid stimulus package

McDonald’s CEO Chris Kempczinski told CNBC he hopes President-elect Joe Biden will tackle some of the country’s biggest problems.

Boeing reports more 737 Max cancelations as FAA review approaches ‘finish line’

Boeing reported additional cancellations and zero orders of the 737 Max just as the FAA gets ready to clear the planes to fly again.

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.

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.

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

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

Ford to invest $100 million in Missouri plant to produce all-electric van

The investment is part of Ford’s plans to invest more than $11.5 billion in electric vehicles through 2022.

Walmart to test deliveries by self-driving car with General Motors’ Cruise

The big-box retailer is testing drones and self-driving cars with other companies to better understand how the technology can make deliveries faster.

Nikola discloses grand jury subpoenas from DOJ

Nikola and its founder Trevor Milton received grand jury subpoenas from the Department of Justice in September.

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.

Beyonce, Peloton strike multiyear content partnership, sending exercise cycle-maker’s shares higher

Peloton announced a multiyear partnership with singer-songwriter Beyonce, to produce exclusive content with her music for exercise sessions.

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

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

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.

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.

Pentagon Top Policy Official Resigns After Clash With White House, Follows Esper Exit

Pentagon Top Policy Official Resigns After Clash With White House, Follows Esper Exit Tyler Durden Tue, 11/10/2020 – 11:26

A day after President Trump terminated Mark Esper, essentially firing the Secretary of Defense via public Twitter statement, another top official has immediately followed after clashing with the White House.

The Pentagon’s top policy official James Anderson has resigned this morning, according to Politico, which writes:

The departure of James Anderson, the acting undersecretary of defense for policy, potentially paves the way for Anthony Tata, President Donald Trump’s controversial nominee for the top policy job who was pulled from contention due to Islamophobic tweets, to take over the policy shop. Anderson’s resignation also comes one day after Defense Secretary Mark Esper was fired by Trump, also over policy disagreements.

Fauci Admitted The Truth About COVID-19 Tests In July And Has Misled The Public Since

Fauci Admitted The Truth About COVID-19 Tests In July And Has Misled The Public Since Tyler Durden Tue, 11/10/2020 – 11:25

Authored by Stacey Lennox via PJMedia.com,

One of the most frustrating aspects of COVID-19 coverage has been the emphasis on œcases, reinforced by the Mendacious Midget „¢, Dr. Anthony Fauci. In fact, he was wringing his hands about rising œcase numbers on CNN in early October. These numbers are actually positive tests. The New York Times and several experts admitted in late August that up to 90% of positive PCR tests were not indicative of the active illness that could be transmitted to others.

FAA’s Boeing 737 Max Review Enters “Final Stages”Â

FAA’s Boeing 737 Max Review Enters “Final Stages” Tyler Durden Tue, 11/10/2020 – 11:10

Boeing shares soared as much as 3% pre-market Tuesday following an overnight report via Reuters detailing how the troubled 737 Max has entered the final review stage with the Federal Aviation Administration (FAA) in evaluating proposed changes to the aircraft.Â

McDonald’s Unveils Its New Growth Strategy

McDonald’s Unveils Its New Growth Strategy Tyler Durden Tue, 11/10/2020 – 10:58

Submitted by MarketCrumbs,

McDonald’s reported third quarter earnings yesterday, announcing that despite global comparable sales dropping by 2.2%, monthly comparable sales improved sequentially for all segments during the quarter.

“The resilience of the McDonald’s system was on display during the third quarter as the competitive strength of our business and the 3 D’s ” Digital, Delivery and Drive Thru ” led to significant global comparable sales recovery,” McDonald’s CFO Kevin Ozan said.

McDonald’s also unveiled its new Growth Strategy, announcing it will focus on maximizing marketing, committing to its classic offerings and doubling down on the 3 D’s.

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.

As Sensex hits all-time high, should investors reallocate money to mid- and small-cap stocks?

With the Sensex and Nifty at all-time highs, mid- and small-cap shares appear better poised to outperform.

Corporate bond funds are back in vogue. Here’s why

The composition of corporate bonds in the mutual fund schemes is changing in favour of less riskier papers.

Q2 preview: Coal India may report over 10% fall in net profit

An assessment by Kotak Institutional Equities showed that Coal India may report 39 per cent year-on-year (YoY) de-growth in bottomline figures with 465 basis points fall in EBITDA margin.

: U.K. and French unemployment figures rise as Europe’s COVID-19 jobs crisis deepens

There are now an estimated 1.62 million people out of work across the U.K.

Need to Know: A strong year-end rally lies ahead. It’s time to ‘rotate within the tech sector’ ” away from FAANG stocks, strategist says

A strong year-end rally lies ahead but investors should rotate within the tech sector and reduce their exposure to the “megacap” names, according to one strategist.

Realtor.com: How did Khloe Kardashian double her money with $15.5 million Calabasas home sale?

Khloà Kardashian’s family reality TV show is coming to a close, after 20 seasons. Perhaps she should consider a role in real estate? She’s certainly had plenty of success in the field.