Written by Gary
Dow surges as investors cheer Moderna vaccine progress (SPY +1.0%). Moderna says its coronavirus vaccine is 94.5% effective against COVID-19.
Here is the current market situation from CNN Money
North and South American markets are broadly higher today with shares in Mexico leading the region. The IPC is up 1.13% while U.S.’s S&P 500 is up 1.08% and Brazil’s Bovespa is up 0.91%.
What Is Moving the Markets
|Here are the headlines moving the markets.|
Japan Looks To Open The World’s First Hydrogen Import Facility
Japan is famous for its unique culture and technological prowess. What makes the world’s third-largest economy even more remarkable is the absence of significant natural resources that are necessary to power industrial processes. Japan has an extremely high import dependency which is unusual for a major economy. To make matters worse, the geographic characteristics of the island nation increase transportation costs significantly. Decarbonization of Japans energy system is a serious challenge as the country is densely populated, mountainous,
Michigan Order Enbridge To Shut Down Line 5
Michigans Governor Gretchen Whitmer and the director of the states Department of Natural Resources have revoked Enbridges easement for the operation of the twin Line 5 pipeline, citing repeated violations of the easement and the need to protect the Great Lakes. The state is revoking the easement for violation of the public trust doctrine, given the unreasonable risk that continued operation of the dual pipelines poses to the Great Lakes, an official statement said. Moreover, the state is terminating the
NASA Wants To Build A Nuclear Plant On The Moon
NASA is planning to build a base and a nuclear power plant on the Moon by 2026 and is inviting proposals from companies ready to take on the challenge. According to a statement issued by the Department of Energy, the plan will involve the construction of a 10-kW class fission surface power system to be used for demonstrative purposes. The plant is to be manufactured and assembled on Earth and then shipped to the Moon on a launch vehicle. This vehicle will take the plant to Moon orbit, from where a lander will take it to the surface of the satellite.
Twitter Blocks Iran Oil Minister’s Account
Twitter has blocked the official account of Bijan Zanganeh, the Petroleum Minister of Iran, IRNA has reported. The U.S. government slapped sanctions Ion Zanganeh in late October, as part of a round of sanctions targeting the country’s oil industry specifically, including the National Iranian Oil Company and the National Iranian Tanker Company. These were sanctioned for “their financial support to Iran’s Islamic Revolutionary Guard Corps-Qods Force (IRGC-QF),” according to a Treasurystatement. Senior NIOC and NITC personnel have worked closely
Oil Prices Leap Higher On Fresh Vaccine Hopes
Oil prices jumped by 4 percent early on Monday, bolstered by another potential vaccine breakthrough, as well as bullish economic data from China. As of 9:14 a.m. ET on Monday, WTI Crude was up 4.46 percent at $41.92 and Brent Crude was trading up 3.95 percent at $44.48. Prices shot up after Moderna said on Monday that the Phase 3 study of its vaccine candidatewhich had enrolled more than 30,000 participants in the U.S.had met statistical criteria with a vaccine efficacy of 94.5 percent. Moderna plans to file for an Emergency Use Authorization
Blackrock and Fidelity Are Betting Big On This $130 Trillion Mega-Trend
This isnt just a megatrend. Its a movement in Big Money, and its the most profound redistribution of investment that the worlds biggest asset and wealth managers have recently seen. Big money is fleeing anything thats not sustainable. By 2022, PwC says that 77% of institutional investors will stop buying non-ESG products entirely. ESG fund assets will account for over 50% of all European fund assets by 2025. Thats nearly $8 trillion. And its only the beginning. Europe
Momofuku joins Goldbelly’s delivery service as consumers seek out far-flung comfort food during the Covid pandemic
Goldbelly is adding chef David Chang’s Momofuku to its national delivery service amid a boom sparked by the coronavirus pandemic.
HHS Secretary Azar says the FDA will move ‘as quickly as possible’ to clear Moderna and Pfizer’s Covid vaccines
HHS Secretary Alex Azar said Monday that the FDA will move “as quickly as possible” to issue an authorization for Covid-19 vaccines from Pfizer and Moderna.
Makers of diapers and baby formula brace for lower sales as pandemic leads to decline in births
Experts are forecasting declining birth rates this year as a result of the coronavirus pandemic, according to the Wall Street Journal.
‘Rule of the jungle’: Health expert sounds the alarm on fair access to Covid vaccines
The race to deliver a vaccine coincides with a scramble to secure future supplies, even before their safety and efficacy have been established.
Beyond Meat to launch two new versions of its meatless burger
Beyond Meat’s line-up of meat substitutes will soon include two new versions of its Beyond Burger.
‘We could effectively end this pandemic in 2021’ with Pfizer and Moderna Covid vaccines
“If these full data sets hold, when the full data comes out, we may have two highly effective vaccines against Covid,” Dr. Scott Gottlieb told CNBC on Monday.
Moderna says preliminary trial data shows its coronavirus vaccine is more than 94% effective, shares soar
Moderna said preliminary phase three trial data shows its coronavirus vaccine is more than 94% effective in preventing Covid-19.
Cramer says he’s never seen such resilient stock buyers ” ‘they don’t seem to want to sell’
“They see good news and then they buy, and then no one comes forward to sell,” CNBC’s Jim Cramer said Monday. “We haven’t seen this pattern ever.”
Lordstown Motors shares jump on early demand and robust hiring to build EV pickup
Lordstown Motors says production of its all-electric Endurance pickup remains on track for next year, sending shares of company up as much as 13%.
Watch live: The World Health Organization holds a briefing on the pandemic after Moderna find its vaccine is highly effective
The WHO is holding a briefing on the Covid-19 pandemic.
Israeli fighter pilot to be part of SpaceX’s private flight for Axiom next year
Former Israeli fighter pilot Eytan Stibbe is the second member of the all-private crew that SpaceX is scheduled to launch late next year for Axiom Space.
The creator of the Pfizer-BioNTech vaccine says life could return to normal by next winter
Professor Ugur Sahin, co-founder and chief executive of BioNTech, also suggested the coronavirus vaccine could halve transmission of the virus.
Another Trump Attorney Harassed As Election Challenges Move Through Courts
Another Trump Attorney Harassed As Election Challenges Move Through Courts Tyler Durden Mon, 11/16/2020 – 12:00
Days after a law firm representing the Trump campaign withdrew from the case following a pressure campaign from the anti-Trump Lincoln Project to ‘cancel’ them, another Trump attorney says she’s being harassed for her involvement in the case.
Walmart Launches Walmart Pet Care
Walmart Launches Walmart Pet Care Tyler Durden Mon, 11/16/2020 – 11:45
Submitted by Market Crumbs
Americans love their pets. The percentage of U.S. households that own a pet has grown from 56% in 1988 to 67% in 2019, according to the American Pet Products Association (APPA) National Pet Owners Survey.
U.S. sales of pet products and services hit a record $95.7 billion last year as it’s estimated sales will grow to $99 billion this year, according to the APPA.
Pet Food & Treats accounted for $37.9 billion, or nearly 40%, of last year’s total sales and is expected to grow by another 4% this year. Vet Care & Product Sales accounted for another $29.3 billion of the total as the APPA called it a “significant jump from previously reported spending figures.”
With Americans increasingly bringing pets into their homes, Walmart announced yesterday a bigger push into the pet industry with …
Trump Cheers As Dow Hits New Record High
Trump Cheers As Dow Hits New Record High Tyler Durden Mon, 11/16/2020 – 11:36
Dow futures pushed notably higher overnight, within a tick or two once again of the 30,000 level…
Top Goldman Dealmaker And Former CEO Contender Is Leaving The Firm
Top Goldman Dealmaker And Former CEO Contender Is Leaving The Firm Tyler Durden Mon, 11/16/2020 – 11:25
Goldman earlier this month inducted just 60 or so new partners into the upper ranks of the firm, the smallest showing in years as CEO David Solomon continues to push the bank in the direction of becoming more like a financial supermarket, and less like the trading-and-dealmaking behemoth that has ruled Wall Street for decades.
And with the bank finally moving on from the 1MDB fiasco while continuing to pour resources into their commercial banking expansion efforts like its new Apple co-branded credit card along with Marcus, its consumer-banking and lending platform, some of GS’s top dealmakers are heading for the exits. According to WSJ, Goldman Sachs’ co-head of investment banking, Gregg Lemkau, once a potential contender to be CEO, is leaving.
FTSE 100 and Dow Jones jump on second Covid vaccine hopes
News of a breakthrough by US drugs firm Moderna follows last week’s positive results from Pfizer.
Clintons boss: Supermarkets selling greeting cards ‘grossly unfair’
Supermarkets should not be able to sell non-essential goods in lockdown, says boss of Clintons cards.
Health and beauty boss Matthew Moulding in line for Â£830m payout
The owner of the firm behind Lookfantastic is set for one of the biggest payments in UK corporate history.
What makes this MSME lender hot favourite among investors
The scrip of the mid-sized lender to micro, small and medium enterprises has gained 53% over the last three months compared with 27% gain in the S&P BSE finance index.
BPCL privatisation gets multiple bids; Reliance skips, no supermajor in race
“Strategic disinvestment of BPCL progresses: Now moves to the second stage after multiple expressions of interest have been received,” Finance Minister Nirmala Sitharaman also tweeted.
Consumer sector companies report a faster sequential recovery in Q2
While analysts believe that the trend may sustain, some economists expect a more gradual pace of recovery in anticipation of abatement in pent-up demand and moderation in spending after the festive season.
Key Words: Why Elon Musk is being called ‘Space Karen’ on Twitter
The Tesla and SpaceX CEO’s recent COVID-19 tweets inspired the trolling. ‘White House Karen’ started trending, too.
NewsWatch: Dow sets new intraday record as Moderna vaccine progress bolsters market’s least-loved shares
Stocks rise sharply Monday, in a rally fueled by optimism over progress toward a COVID-19 vaccine.
Market Extra: Dow on verge of 30,000 and first record close in 10 months on back of Apple’s stock surge
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