Written by Gary
FEC Chairman Says He Believes ‘There Is Voter Fraud’ In Key States (SPY +1.4%). 06 November 2020 ECRI’s WLI continues to improve.
The Market in Perspective
| Here are the headlines moving the markets. | |
 | Will A Vaccine Reinvigorate Oil Markets?U.S. West Texas Intermediate is trading lower on Friday. The catalysts behind the selling pressure are fears over skyrocketing COVID-19 cases and their negative effect on the global demand recovery. Nonetheless, the market remains on track to finish higher for a second consecutive week, helped by vaccine hopes. Bullish News This weeks strength was primarily driven by data that showed an experimental COVID-19 vaccine being developed by Pfizer Inc and Germanys BioNTech was 90% effective. Also providing support was the notion that OPEC+ |
| Oil Demand Revised Down Once Again1. Oil rallies on vaccine hopes- The oil bulls returned this week on the extraordinary news that a potential coronavirus vaccine is not only effective but could be widely available by the second quarter of 2021. – WTI surged 9% in just a few hours and seesawed the rest of the week, but now looks steady above $40 per barrel. – The rally was accentuated by the fact that investors have recently sold off oil, trading out of bullish positions. The excessive investor skepticism, and their previous unbridled optimism, are often good counter-indicators, |
| An Uneasy Peace Between Armenia And AzerbaijanPolitics, Geopolitics & Conflict The Armenian government has signed what it has referred to as a painful agreement with Russia and Azerbaijan to end the war over the disputed area of Nagorno-Karabakh. Under the deal, Azerbaijan will retain areas of Nagorno-Karabakh that it has taken during the ongoing conflict. Armenia has agreed to withdraw from several other adjacent areas over the next few weeks. The deal sparked celebrations in Azerbaijan and protests in Armenia, while Michael Carpenter, an adviser to U.S. president-elect |
| Betting On A Rebound In Oil DrillingFor those of us that pay attention to the Baker Hughes Rig Count, as all energy investors should, it has been an interesting month or so. After one of the most precipitous falls in the number of active rigs in America ever, the rig count bottomed out towards the end of July and has now started climbing again.As you can see from the chart above, we are still way below the highs, and even the average, but it is now clear that the closures were a bit overdone and there is a clear upward trend emerging. That is good news for energy investors, but it |
| Surge In COVID Cases Counters Oil Market OptimismWhile much of the media attention has been on the recent Pfizer vaccine success, COVID cases are surging and new lockdowns are coming into effect, weighing further on oil pricesFor 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 13th, 2020Oil prices surged early in the week on enormously |
| Could Energy Bring Lebanon And Israel Together?By most perspectives, Trump has been a hands-off president in the foreign policy arena, with the visible exception of antagonizing Iran and fostering a withdrawal from – and then an about-face return to – Syria, where U.S. troops are now standing guard around northern Syrias Kurdish-area oil to keep it from getting into Assads hands (it does, anyway). In some respects, that hands-off, zero-geopolitical-deep-state way of thinking from purely a foreign policy perspective has been a relief. In some respects, it has led to some accidental |
| California, Oregon and Washington issue Covid travel advisory urging 14-day quarantineThe West Coast states issued a joint coronavirus travel advisory on Friday urging people arriving to their states to self-quarantine for 14 days upon arrival. |
| GM recalling Chevrolet Bolt EVs due to fire risks amid federal probeGM is recalling 68,667 of the cars globally from the 2017 through 2019 model years, including nearly 51,000 in the U.S. |
| McDonald’s and franchisees will conduct coronavirus safety checks to guard against pandemic fatigueMcDonald’s will conduct coronavirus safety reviews of its restaurants as new U.S. cases hit a record high. |
| President-elect Joe Biden’s Covid advisors nix idea of U.S. lockdown to curb pandemic“I think of this as a dimmer switch, not an on-and-off light switch,” said Dr. Celine Gounder, a coronavirus advisor to President-elect Joe Biden. |
| Ford is ‘absolutely’ interested in producing EV batteries like Tesla and GMThe comments are a reversal from Farley’s predecessor, Jim Hackett, who told investors in July that the automaker saw “no advantage” in producing the batteries. |
| Americans would spend more this holiday season with $1,200 stimulus checks, Gallup study findsA fresh round of stimulus checks could provide a welcomed boost to retailers during the holidays, a Franklin Templeton-Gallup study found. |
| Warner Bros. weighs ‘Wonder Woman 1984’ release as Covid cases continue to spikeWith six weeks to go before “Wonder Woman 1984” is set to debut in theaters, Warner Bros. executives are still debating the film’s release strategy. |
| Largest purple-pink diamond ever to be auctioned sells for nearly $27 millionThe largest purple-pink diamond ever to be auctioned has been sold in Geneva, Switzerland for 24,393,000 Swiss francs ($26,700,871). |
| Biden Covid advisor warns that Thanksgiving travel is like ‘pouring gasoline on a fire’“Right now we have a fire blazing and to me…spending time with people over the holidays is sort of like pouring gasoline on a fire,” said Dr. Celine Gounder. |
| Dr. Fauci says it appears Covid strain from Danish mink farms won’t be a problem for vaccinesIt is hoped a vaccine could help bring an end to the coronavirus pandemic that has claimed over 1.29 million lives worldwide. |
| Money disputes expected as MLB and its players union get set to enter intense talks for 2021 seasonMajor League Baseball claims clubs lost a combined $3 billion in 2020 due to Covid-19 and will need to convince players of that to strike a deal to save 2021. |
| Singapore can forget about other air travel bubbles if it messes up its Covid-19 response, says tourism chiefIt is “crucial” for Singapore be in the right position before loosening coronavirus measures further, said Keith Tan of the Singapore Tourism Board. |
| Energy Stocks Soar To Best Week Ever As Vaccine Hope Vanquishes FearEnergy Stocks Soar To Best Week Ever As Vaccine Hope Vanquishes Fear Tyler Durden Fri, 11/13/2020 – 16:01 The week’s big headline remained the positive vaccine news, which sparked all kinds of rotations, sending Small Caps (and value) soaring as Mega-tech (and growth) tumbled…Another late-day buying-panic today… |
| Watch Live: Trump Holds First COVID-19 Briefing Since Election As US Cases SoarWatch Live: Trump Holds First COVID-19 Briefing Since Election As US Cases Soar Tyler Durden Fri, 11/13/2020 – 15:55 Speaking about COVID-19 for the first time since the Nov. 3 election, President Trump is scheduled to hold a briefing at 1600ET to discuss “Operation Warp Speed”. Given the fact that Pfizer published its “light at the end of the tunnel” COVID-19 vaccine results the Monday after the election, we imagine President Trump might have a few words for them. Of course, after an ugly day of losses in the election litigation, there is an outside chance Trump might concede, but we suspect the combination of tomorrow’s MAGA March and the fact that the SCOTUS route is still open in PA, this is far from over. |
| FEC Chairman Says He Believes ‘There Is Voter Fraud’ In Key StatesFEC Chairman Says He Believes ‘There Is Voter Fraud’ In Key States Tyler Durden Fri, 11/13/2020 – 15:35 Authored by Jack Phillips via The Epoch Times, The chairman of the Federal Elections Commission (FEC) stated that he believes there is evidence of voter fraud and other alleged irregularities. |
| A High Speed Tesla Wreck Through The Eyes Of Its Autonomous-Driving ComputerA High Speed Tesla Wreck Through The Eyes Of Its Autonomous-Driving Computer Tyler Durden Fri, 11/13/2020 – 15:15 Though we have seen numerous videos of Teslas crashing on highways, catching fire spontaneously, and driving through storefronts, it’s been rare we’ve been able to see exactly what it looks like through the eyes of Tesla’s autonomous driving software. This week, auto blog Jalopnik offered up a rare glance into what it looks like from a Tesla’s computer during a high speed Tesla wreck. The video was posted by Twitter user and “hacker/security researcher” @GreenTheOnly, who, due to his research in the area, occasionally gets access to vehicle “black boxes” from salvage yards. This week he analyzed video and data from a wrecked Tesla that he was sent. Admittedly, the piece states that it doesn’t think Autopilot was active right at the time of the impact, but the video still highlights the “problems of any Level 2 semi-autonomous system”. The video is from a crash that took place on highway CA-24 during clear weather, at night. A Tesla, traveling at an obviously high rate of speed, rear-ended a Honda that was traveling in front of it. The Tesla was moving fa … |
| Hays Travel founder dies after collapsing at workJohn Hays ran the UK’s largest independent travel agent alongside his wife, Irene. |
| Tata: Concern over future of Port Talbot steelworksUrgent talks are being sought to see how a funding plan will affect Port Talbot’s workforce. |
| University staff urge probe into e-book pricing ‘scandal’More than 2,500 university staff ask MPs to investigate publishers over the rising cost of online texts. |
| ONGC Q2 profit falls 19% YoY to Rs 4,335 crore; revenue declines 18%Consolidated revenue from operations declined 17.70 per cent YoY to Rs 83,619.16 crore. |
| Tata Steel Q2 profit plunges 63% YoY to Rs 1,546 cr; revenue rises 7%Consolidated revenue from operations increased 7.44 per cent YoY to Rs 37,153 crore. |
| Why govt is pushing PSUs to shell out large dividendsThe department has asked all CPSEs to consider giving œat least 90% of the projected annual dividend in one or more instalments as interim dividend. |
| 06 November 2020 ECRI’s WLI Continues To Improve
ECRI’s WLI Growth Index which forecasts economic growth six months forward marginally improved and remains in expansion. |
| The Ratings Game: Disney is getting a lot of streaming subscribers, but there may be a catchWalt Disney Co.’s streaming business continues to roar, but other parts of the company remain under pressure from the COVID-19 crisis. |
| Election: Trump to speak on development of coronavirus vaccine Friday afternoonPresident Donald Trump on Friday is scheduled to make remarks about the œOperation Warp Speed public-private partnership that aims to accelerate development of a coronavirus vaccine, giving his first address since news outlets declared Joe Biden as the winner of the White House race. |
| FA Center: Why value stocks could rally in the Biden administration’s first 100 daysValue historically has performed best after new presidents take office. |
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