13Nov2020 Pre-Market Commentary: Wall Street To Open Higher, DOW Futures Up 227 Points, Nasdaq Up 0.7%, Biggest Moves Premarket: DraftKings, Disney, Cisco

Here is the current market situation from CNN Money

European markets are mixed. The DAX is higher by 0.07%, while the CAC 40 is leading the FTSE 100 lower. They are down 1.52% and 0.67% respectively.

Why A COVID Vaccine Wont Invigorate The Oil Market

For those who have been transfixed on oil demand forecasts over the last eight months, the recent news that Pfizers Covid-19 vaccine is 92% successful likely came with a renewed hope that oil demand will finally tick up and bring the industry out of the doldrums in which it has been languishing since the start of the pandemic. The lockdowns are to blame for the loss in oil demand. And now, invigorated with the possibility that this new vaccine will allow people to resume their normal way of life – air travel, dining out, and shopping – the

The Great Struggle For Iraqi Oil May Be Drawing To A Close

With the announcement last week that the president of Russian state oil proxy Lukoil, Vagit Alekperov, met one-to-one with Iraqs Prime Minister, Mustafa al-Kadhimi, and its Oil Minister, Ihsan Abdul Jabbar Ismail, to discuss further co-operation, it appears that Iraqs long-standing game of playing the U.S. and Russia off against each other in return for economy-sustaining financing may finally be drawing to a close. Russia wants a firm commitment and its tired of waiting, a senior oil and gas industry source who

Fuel Demand Slump Speeds Up Refinery Closures

Refiners around the world have been announcing permanent closures of refinery capacity this year after the pandemic crushed fuel demand worldwide, and significant overcapacity still remains, the International Energy Agency (IEA) said on Thursday. In its monthly Oil Market Report, the EIA said that permanent shutdowns of refinery capacity had reached 1.7 million barrels per day (bpd). But another more than 20 million bpd crude oil distillation capacity now sits idle, the Paris-based agency said, noting that there remains significant structural

The Permian Oil Stock That Markets Are Overlooking

Matador Resources, (NYSE: MTDR) is a small Permian oil driller that doesnt get a lot of coverage, taking a back seat to some of the more widely covered names like Devon Energy, NYSE: DVN), or Pioneer Exploration, (NYSE: PXD). They are just the right size to be a tasty bite for some acquisitive larger company looking to expand their portfolio in the much desired Delaware basin. Source But, even if that doesnt happen, Matador has the right balance sheet and development portfolio to survive to better times in the oil patch. In this article,

Can Asia Continue Its Crude Oil Buying Spree?

With Europe and North America falling ever deeper into the quagmire of second-wave coronavirus lockdowns and curfews, caution has become the universal buzzword. In Asia, however, the anticipation of worse things to come has given way to a cautious optimism that has prevented Middle Eastern differentials from falling. Amidst Libya coming back to the global markets and OPEC+ discipline weakening, that is a remarkable feat attesting to the robustness of the Asian market. Buttressed by the market contango, refiners in India and China are ramping up

Japan Could Restart Nuclear Reactor Damaged In 2011 Disaster

A local governor in Japan has approved plans from utility Tohoku Electric Power to restart one of its nuclear reactors that was damaged in the 2011 earthquake and the following tsunami, the same that caused the reactor meltdown at Fukushima. Tohoku Electric Power received approval from the governor of Miyagi Prefecture, Yoshihiro Murai, to restart unit 2 at the Onagawa nuclear power plant, a spokesman for the company told Reuters. The Onagawa nuclear power was swamped by the 2011 tsunami but had its cooling system intact, unlike the Fukushima plant

Grocery shoppers trade up from dried beans and rice to premium foods as Covid cases rise

Consumers have turned toward premium purchases such as higher-end coffees, cheeses and frozen entrees instead of value brands, market research firm IRI found.

JetBlue will stop blocking seats on board in January, joining Southwest

JetBlue joins Southwest by selling all seats on board its flights, starting next year.

California’s Covid rules mean lengthy Disneyland closure and more pressure for Disney earnings and local economy

The prolonged closure of Disneyland in California be a massive drag on Disney’s earnings for quarters to come and on the local Orange County economy.

Crucial Moderna Covid vaccine data is coming in days ” here’s what to look out for

Investors expect Moderna’s vaccine will be highly effective, especially after Pfizer said its vaccine was 90% effective, said Brad Loncar, a biotech investor.

Chicago mayor asks residents to cancel Thanksgiving plans and stay indoors as Covid cases rise

Chicago Mayor Lori Lightfoot asked all residents to stay home except for work, school or essential needs such as a doctor’s appointment or grocery shopping.

Joe Biden’s climate change agenda faces an uncertain future in the Senate

Biden could undo many of President Trump’s environmental rollbacks. But replacing Trump’s regulatory agenda could be difficult with a GOP-controlled Senate.

Kentucky Supreme Court upholds Gov. Beshear’s coronavirus restrictions, including mask mandate

The Kentucky Supreme Court upheld Gov. Andy Beshear’s emergency coronavirus executive orders on Thursday, amid a surge of cases in the state.

University of Wisconsin hospitals are short of staff at ‘all times’ as Covid slams state

“We’re finding that all of our hospitals are reaching their limit in capacity,” UW Health CEO Dr. Alan Kaplan told CNBC.

U.S. airline employment to reach lowest levels in decades after pandemic cuts 90,000 jobs

U.S. airline employment is set to reach the lowest levels since the mid-1980s

What comes next for the Dow and S&P 500, according to market history

Market history says after runs like the Dow and S&P 500 just experienced, the short-term outlook is uncertain, but patient investors may see sizable gains.

Stocks making the biggest moves premarket: DraftKings, Disney, Cisco, others

These are the stocks posting the largest moves before the bell.

5 things to know before the stock market opens Friday

Dow futures rose on this Friday the 13th of November after the 30-stock average dropped in the previous two sessions.

Dr. Fauci says it appears Covid strain from Danish mink farms won’t be a problem for vaccines

It is hoped a vaccine could help bring an end to the coronavirus pandemic that has claimed over 1.29 million lives worldwide.

Core Producer Price Growth Slows In October But Food Prices Surge

Core Producer Price Growth Slows In October But Food Prices Surge Tyler Durden Fri, 11/13/2020 – 08:39

After yesterday’s disappointing (for some) cooler-than-expected CPI, analysts also expect producer price growth to decelerate in October but it modestly beat expectations, rising 0.3% MoM (vs +0.2% MoM exp).

On a YoY basis, producer prices rise 0.5%, well below that of consumer prices…

Obama Warns Trump’s Election Fraud Claims Put US Democracy On “Dangerous Path”

Obama Warns Trump’s Election Fraud Claims Put US Democracy On “Dangerous Path” Tyler Durden Fri, 11/13/2020 – 08:26

Barack Obama has another book to sell, and so, after making a handful of comments in the press (and just a handful of actual appearances) in support of his former VP, Joe Biden, during the campaign, Obama is breaking what has been a long TV interview fast and sitting down with a lengthy feature interview with “60 Minutes”.

Blain: From Meltups To Lockdowns

Blain: From Meltups To Lockdowns Tyler Durden Fri, 11/13/2020 – 08:12

Authored by Bill Blain via MorningPorridge.com,

œFriday the 13th is still better than Monday the whatever…

Friday the 13th ” never a good day to set out on a new voyage or project… but someone will probably be offered the job as Chief of Staff at Downing Street… Any takers?Â

Back in the real world, it’s been an extraordinary week as markets settle into a new upside trend after the Vaccine news on Monday. It’s not quite a œit will be all over by Christmas mood, but certainly the expectation is vaccine(s) mean the war against Covid is won. There is lots of talk about a œMelt-up into the Christmas market slowdown. (All of which ignores the fact every stock ratio is screaming over-bought ¦ but let’s not spoil the mood by being bearish ¦)

Yet yesterday we saw the market back in dip mode ” pulled lower as markets stumbled on the deepening and immediate Coronavirus crisis as numbers continue to soar. Lockdowns and curfews are being imposed in US cities. The prospects for any form of economic stimulus from what still passes as government in Washi …

Futures Rebound As Markets Look Beyond Surge In Covid Cases

Futures Rebound As Markets Look Beyond Surge In Covid Cases Tyler Durden Fri, 11/13/2020 – 07:55

US equity futures rebounded and European stocks were mixed as shares of Disney and Cisco jumped after both reported solid earnings, but investors remained cautious as many U.S. states imposed restrictions to curb the relentless surge in coronavirus cases. Treasury yields reversed an earlier rise and the dollar slipped.

S&P futures rose 0.8%, or 27 points to 3,560 while Eupope’s Stoxx 600 Index erased an earlier decline, with tech and banks among the winning sectors after Joe Biden was projected to win the battleground state of Arizona, cementing his win for the office. The projection by Edison Research dealt another blow to President Trump’s effort to overturn the results of the Nov. 3 presidential election.

Today’s gains come a day after US markets fell 1% as the US braced for more lockdowns with New York preparing for the possibility of school closures and Chicago urged residents to shelter at home, fueling fears about the recovery, with investors also weighing how fast an effective vaccine would be rolled out.

Tesco limits online customers amid Christmas rush

The supermarket apologises as people are forced to queue online to place their Christmas orders.

Covid: Caffè Nero seeks help after pandemic ‘decimates’ trading

The coffee chain, which employs 6,000, people, is seeking financial breathing space from its landlords.

North West sees job ads surge while London lags

Nurses are in demand as vacancies climb to pre-pandemic levels, but with big regional variations.

Why govt is pushing PSUs to shell out large dividends

The department has asked all CPSEs to consider giving œat least 90% of the projected annual dividend in one or more instalments as interim dividend.

Mind of the Market: What factors should you track over the next few months?

By now, almost everyone in the Indian market knows that there will be no massive stimulus from New Delhi. Indeed, the market has not only digested that piece of information, it’s gaining from it — since a modest growth in the government balance-sheet would lower chances of a sovereign downgrade.

9 stocks that analysts say can give solid returns in 2-4 weeks

After rallying for eight days, the market took a pause as it witnessed profit booking on the back of weak global cues. As new Samvat begins, analysts advise investors to take a stock-specific approach. “The inflows triggered by the MSCI rejig may continue to attract buying on a stock-specific basis. We reiterate paying attention to traditional defensives.” said Milan Vaishnav, CMT, MSTA, and founder of Gemstone Equity Research & Advisory Services.Here are 9 stocks that analysts say can generate solid returns in the next 2-4 weeks.

October 2020 Producer Price Final Demand Continues To Show Little Year-over-Year Growth

Written by Steven Hansen

The Producer Price Index (PPI) year-over-year inflation moved from +0.4 % to +0.5 %.

Rail Week Ending 07 November 2020 – Rolling Averages Continue To Improve

Written by Steven Hansen

Week 45 of 2020 shows same week total rail traffic (from the same week one year ago) improved according to the Association of American Railroads (AAR) traffic data. Total rail traffic has been mostly in contraction for over one year – and now is slowly recovering from the coronavirus pandemic.

Election: Georgia’s two Senate runoff elections could spark $1 billion in political spending, analysts say

With Georgia’s two Senate runoff elections on Jan. 5 poised to determine the balance of power in Washington, the state is expected to see massive spending on ads and other campaign activities.

Economic Report: U.S. wholesale prices climb 6th straight month on higher food costs

U.S. wholesale prices rose again in October, but there was little evidence of widespread inflation bubbling up in the innards of the economy with the coronavirus still casting a large shadow. The producer price index advanced 0.3% last month.

Bond Report: U.S. Treasury yields edge lower, paring bond-market losses from weekly selloff

U.S. Treasury yields inch lower in early Friday trade as the bond-market takes back a chunk its weekly losses following a Monday selloff sparked by positive vaccine development.