Written by Gary
JOLTS Job openings year-over-year growth rate declined (SPY -0.2%). Nasdaq slides as investors rotate out of tech stocks.
The Market in Perspective
| Here are the headlines moving the markets. | |
 | Worlds Top Oil Trader Weighs U.S. Shale AcquisitionsThe worlds largest independent oil trader, Vitol Group, is considering potential acquisitions in the U.S. shale patch, chief executive Russell Hardy said on the Reuters Commodity Trading Summit on Tuesday. Nothing has been done, its just an area where we feel there might be a fit from an asset point of view, where capital is leaving and some assets are going to want new owners, Hardy said at the summit. If Vitol were to decide to proceed with an acquisition, it hopes that it could have deals lined up by this time |
| Oil Optimism Returns On Fresh Vaccine NewsOil prices reacted positively to the news of a Pfizer vaccine that is reportedly 90% effective for the coronavirus.Chart of the Week- Energy-related CO2 emissions in the U.S. declined by 3% in 2019, after rising by 3% the year before. The decline was largely due to the evolving mix of electricity generation- Emissions from coal plunged by 15% as more coal plants were taken offline. Emissions from natural gas increased by 7%.- U.S. electricity emissions are now down by 33% |
| U.S. Energy Related CO2 Emissions DropU.S. energy-related carbon dioxide emissions dropped by 3 percent last year, offsetting a 3-percent increase in 2018, as a record-high share of low-carbon sources were used in the electricity sectorthe main contributor to emissions decline in 2019, the Energy Information Administration (EIA) said on Tuesday. Total energy-related carbon dioxide (CO2) emissions in 2019 were about 150 million metric tons (MMmt) lower than in 2018, and nearly all of that decline, or 96 percent, was due to the changing mix of fuels used to generate electricity. |
| India Could Be The Next Breakout Natural Gas MarketEconomic expansion strongly correlates with CO2 emissions as more energy is needed to power factories, transportation, and a higher standard of living. India is not an exception where growth has increased demand for energy. Considerable domestic coal reserves have ensured demand for a steady and secure supply of the pollutant energy source. However, rampant air pollution and global warming require more sustainable sources. In the long run, renewables are required to fill the demand. Technological limitations, however, require additional sources, |
| Shells Largest Refinery Reduces Crude Processing Capacity By 50%Shell will halve the crude oil processing capacity of its largest wholly owned refinery in the world, Pulau Bukom in Singapore, as part of its ambition to be a net-zero emissions business by 2050 or sooner, the supermajor said on Tuesday. Pulau Bukom hosts the largest wholly-owned Shell refinery globally in terms of crude distillation capacity, 500,000 barrels per day (bpd), and it also has an ethylene cracker complex with a capacity of up to a million tons per year and a butadiene extraction unit of 155,000 tons annually. As |
| India Energy Demand On The ReboundIndia’s energy demand is beginning to improve as businesses reopen, the country’s oil minister, Dharmendra Pradhan said this week at the ADPIEC conference in Abu Dhabi. “India’s energy sector has shown remarkable resilience and our energy demand has almost recovered back to the pre-Covid levels, particularly for petroleum products, due to [the] rejuvenation of economic activities,” Pradhan said, as quoted by The National. A couple of weeks ago, the chairman of India Oil Corp. said that demand for fuels, hence for crude oil, was improving thanks |
| Donald Trump is bad for comedy, but his election loss doesn’t mean he’ll be gone from late nightTrump may be exiting the White House in January to make room for President-Elect Joe Biden, doesn’t mean he’ll disappear from late night. |
| Cruise bookings rise on coronavirus vaccine news, Norwegian Cruise Line CEO says“Bookings, the last 24 hours, yesterday, were pretty good … and that, I think, is attributable to the vaccine news,” said Norwegian CEO Frank Del Rio. |
| UBS increases GM’s price target to $50 on ‘aggressive’ EV plans; stock jumps 6%UBS said GM is “fully back on track and likely enjoys strong momentum well into 2021,” including its electric vehicle plans. |
| McDonald’s CEO Chris Kempczinski says the U.S. needs another Covid stimulus packageMcDonald’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-upCoresight 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 ObamacareBiden 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. |
| Jim Cramer: Why 100 year-old Dow stock Honeywell is a big bet on the futureHoneywell’s CEO tells CNBC’s Jim Cramer that future is about controlling data, as well as quantum computing, drones, and green hydrogen. |
| How Ocean Spray is using its cranberries to push into wellnessOcean Spray is now pushing into wellness and functional beverages as it broadens its innovation. |
| Watch live: President-elect Biden addresses Obamacare’s Supreme Court challengePresident-elect Joe Biden delivers remarks Tuesday afternoon in Wilmington, Delaware, on the challenge to Obamacare in the Supreme Court. |
| Target’s same-day delivery service Shipt gears up for online holiday shopping boomShipt CEO Kelly Caruso said customers will stick with the same-day delivery service because they have discovered the hours they can gain back. |
| United makes it official: Return to JFK airport set for February, thanks to pandemic travel lullUnited Airlines is set to resume service at New York’s JFK airport in February with flights to California. |
| Momentum Massacre Trounces Tech Stocks; Bonds Drop, Bullion PopsMomentum Massacre Trounces Tech Stocks; Bonds Drop, Bullion Pops Tyler Durden Tue, 11/10/2020 – 16:00 Since the Pfizer vaccine headlines hit, markets have gone just a little bit slightly turbo with Small Caps up over 4% and Mega-Cap tech down almost 6%… |
| Peter Schiff: There Is No Vaccine For What Ails The EconomyPeter Schiff: There Is No Vaccine For What Ails The Economy Tyler Durden Tue, 11/10/2020 – 15:45 Via SchiffGold.com, Stocks soared, and gold and silver sold off Monday after Pfizer announced success in stage III coronavirus vaccine trials. During his podcast, Peter Schiff talked about the crazy day in the markets and suggested we might want to tap the brakes when it comes to the excitement about a COVID vaccine because there is no vaccine for what actually ails the economy. |
| Why Biden Should Second Trump’s Call For Ballot ReviewsWhy Biden Should Second Trump’s Call For Ballot Reviews Tyler Durden Tue, 11/10/2020 – 15:10 Authored by J.Peder Zane via RealClearPolitics.com, If Joe Biden wants to bring our country together, he should endorse President Trump’s demand not only for recounts but extensive ballot reviews in at least the four states where the Democrat now leads by a whisker: Arizona, Georgia, Pennsylvania and Wisconsin. |
| Amazon charged with abusing EU competition rulesThe EU says the platform is using data on third-party sellers to gain an unfair advantage. |
| UK unemployment rate continues to surgeRedundancies rise to a record 314,000 as coronavirus continues to hit the jobs market. |
| Job search: Married couple forced apart during pandemicLake District-based couple had to move apart after the company they worked for went bust. |
| 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 whyThe 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 profitAn 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. |
| September 2020 Headline JOLTS Job Openings Year-over-Year Growth Rate DeclinedWritten by Steven Hansen The BLS Job Openings and Labor Turnover Survey (JOLTS) can be used as a predictor of future job growth, and the predictive elements show that the year-over-year growth rate of unadjusted private non-farm job openings year-over-year rate of growth was little changed and remains in contraction.
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| : Biden says Trump’s failure to concede election is ‘not of much consequence’President-elect Joe Biden on Tuesday plays down the Trump administration’s resistance to his victory in the White House race. |
| : Amazon’s EU troubles could be warm-up act for more regulatory actions vs. Big TechThe path to more antitrust scrutiny is clear. Shortly after the EU’s announcement, Rep. David Cicilline, D-R.I., chairman of a House antitrust subcommittee, doubled-down on his committee’s vow to consider legislation regulating some of tech’s biggest players. |
| : Health-care real estate deals surge as investors seek ‘flight to quality’Investment volumes into U.K. health-care property are on track to reach their highest level in 25 years. |
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