18Nov2020 Midday Update: Bitcoin Breaks $18,000 As Rally Powers On, DOW Up 40 Points After More Positive Vaccine Trial Data, Nasdaq Up 0.3%, Bitcoin Slips To 17878,

Here is the current market situation from CNN Money

North and South American markets are broadly higher today with shares in Brazil leading the region. The Bovespa is up 1.91% while Mexico’s IPC is up 1.57% and U.S.’s S&P 500 is up 0.15%.

Hurricanes Led To Steepest Fall In Gulf Of Mexico Oil Production Since 2008

Crude oil production in the U.S. Gulf of Mexico dropped in August by the largest amount compared to the previous month since September 2008, due to shut-ins because of Hurricanes Marco and Laura, the Energy Information Administration (EIA) said on Wednesday. In August, Gulf of Mexicos crude oil production declined by 27 percent, or by 453,000 barrels per day (bpd), compared to July, the EIA has estimated. Total crude oil production in the Gulf of Mexico averaged 1.2 million bpd in August 2020, which was the lowest production rate in almost

Oil Majors Look To Bolster Security In Nigeria Amid Protests

Major oil companies have asked local authorities to boost surveillance on oil-producing and oil and infrastructure assets in Nigeria amid escalating protests against police brutality and plans for oil job cuts, three industry sources told Reuters on Wednesday. The protests and the expected job cuts are further aggravating the unemployment in the Niger Delta, Nigerias oil-producing region, and companies and non-profit organizations fear a spike in oil theft on pipelines. The unemployment rates in Nigerias key oil-producing states in

Oil Prices Under Pressure As Oil And Gasoline Inventories Build

Oil prices fell slightly on Wednesday morning after the Energy Information Administration reported a moderate 800,000-barrel increase in crude oil inventories for the week to November 13, a day after the American Petroleum Institute estimated a 4.17-million-barrel inventory build. The EIA estimate for last week compares with analyst expectations for a build of 1.95 million barrels, after last week the authority reported a considerable increase in inventories, at 4.3 million barrels that capped oils gains at the time. In gasoline, the EIA

Indigenous Group Pours C$1B Into Keystone XL

A Canadian indigenous group has struck a deal with TC Energy to invest some $763. 77 million (C$1 billion) in the controversial Keystone XL, which Joe Biden has said he would stop when he enters office as president. The group, Natural Law Energy, comprises several First Nations and will receive a share of the pipeline’s profits in exchange for the investment, according to its chief executive Travis Meguinis in a press release. Other details of the deal were not disclosed, including where the money will come from. “Natural Law Energy has used the

UK To Ban Sales Of Gasoline Cars From 2030

The UK government will ban sales of gasoline and diesel cars from 2030, the BBC reported, citing Prime Minister Boris Johnson. The move is part of what Johnson has called a green industrial revolution aimed at mitigating climate change while creating new jobs. The plan will receive financing of $5.31 billion (4 billion pounds), which, according to critics, is nowhere near enough for such a large-scale transition. The electrification of transport has been touted as a cornerstone of the worlds transition to a more renewable energy future,

The Rally In Oil Stocks May Be Short-Lived

First Pfizer and now Moderna have provided a much needed shot in the arm to the embattled oil industry, with their news about vaccine candidate efficacy lifting stocks strongly in the past week. The Pfizer news kicked off the best week ever for energy stocks, CNBC reported, and Modernas update marked the start of what could be another strong week, especially as it came on the same day as OPEC+ decided to extend the current oil production cuts for three more months, till end-March. But how stable is the rally? This is the question investors

Now that two highly effective Covid vaccines are within reach, we just have to get them to 7.8 billion people

Now comes the tricky part, distributing the vaccines ” both of which require two doses given about a month apart ” to billions of people across the world.

Grocery chain apologizes after releasing ‘super spread’ ad for Thanksgiving

œHosting? Plan a super spread, reads a full-page advertisement printed in Giant Food’s Savory magazine, TODAY reports.

FAA chief says conditions in 737 Max crashes are now ‘impossible’ after design, training changes

FAA chief says conditions in 737 Max crashes are now ‘impossible’ after design, training changes

GM to offer auto insurance that uses data from connected vehicles to price rates

General Motors is launching its own auto insurance as a way to generate new revenue using its growing amount of connected vehicles in the U.S.

Dr. Scott Gottlieb urges Covid stimulus, sacrifices: ‘This may be the last time we have to do it’

“We need to think about what temporary sacrifices we’re willing to make, including economically,” Dr. Scott Gottlieb told CNBC on Wednesday.

Target CEO Brian Cornell says retailer is benefiting from its ‘one-stop solution’ advantage

Target said its diverse assortment, from groceries to apparel, has taken on additional importance as shoppers limit trips during the coronavirus pandemic.

Watch live: U.S. officials speak on Operation Warp Speed after Pfizer releases positive vaccine data

The departments of Health and Human Services and Defense are holding a briefing on the Trump administration’s coronavirus vaccine program.

SpaceX wants to test its Starlink satellite internet network inflight with a Gulfstream jet

Elon Musk’s SpaceX would like to further expanded testing of its Starlink satellite internet by connecting the network to aircraft.

WHO warns vaccine won’t help countries fend off current wave of infections

“We are not there with vaccines yet. We will get there, but we’re not there,” Dr. Mike Ryan, executive director of the WHO’s health emergencies program, said.

FAA clears Boeing 737 Max to fly again after 20-month grounding spurred by deadly crashes

Federal regulators cleared the Boeing 737 Max to fly again after a 20-month grounding that sparked a crisis inside one of the nation’s biggest exporters.

Pfizer says final data analysis shows Covid vaccine is 95% effective, plans to submit to FDA in days

Pfizer and BioNTech said final analysis found coronavirus vaccine was 95% effective in preventing Covid-19 and appeared to fend off severe disease.

Target crushes estimates as retailer uses new shopper habits to gain market share

Target on Wednesday reported fiscal third-quarter earnings that easily outpaced analysts’ estimates as the discount retailer won market share by turning shoppers’ pandemic habits into lasting gains.

You’ve Got To Ask Yourself One Question. Do You Feel Lucky?

You’ve Got To Ask Yourself One Question. Do You Feel Lucky? Tyler Durden Wed, 11/18/2020 – 12:40

Authored by Michael Lebowitz and Jack Scott via RealInvestmentAdvice.com,

On November 9, 2020, Pfizer announced encouraging test results pointing to an effective COVID vaccine. In response, investors aggressively bought the stocks most negatively affected by COVID and sold those stocks that had benefited. For example, Netflix was down 8.6% while Disney was up 12%. Banking, industrials, materials, transportation, and energy stocks did well while technology and communications fell sharply. The divergence of winners and losers was one for the ages.

To wit, in our latest Technically Speaking we shared the following:

œThe recent rally has been driven by the former losers and much of this performance happened after the PFEs 11/9 announcement of very positive vaccine data. The moves since 11/9 are so dramatic that they have destroyed many statistical models.

Jon Quigley who ma …

Mexico’s 3rd Richest Man Puts 10% Of Net Worth In Bitcoin

Mexico’s 3rd Richest Man Puts 10% Of Net Worth In Bitcoin Tyler Durden Wed, 11/18/2020 – 12:20

With Bitcoin set to take out its December 2017 all time highs around $20,000 in the near future, attention is finally turning back to this asset which so many “experts” left for dead after its plunge in 2018.

Rand Paul Vows To Resist Biden’s “Forever” Lockdowns

Rand Paul Vows To Resist Biden’s “Forever” Lockdowns Tyler Durden Wed, 11/18/2020 – 12:00

Authored by Steve Watson via Summit News,

Senator Rand Paul has promised to do everything within his power to resist and prevent lockdowns under a Biden administration, warning that if he does secure the Presidency Joe Biden will be happy for Americans to where masks permanently.

Progressives Slam Biden For “Corporate Friendly” Admin After First Climate Appointment Is “Fossil Fuel Industry Ally”

Progressives Slam Biden For “Corporate Friendly” Admin After First Climate Appointment Is “Fossil Fuel Industry Ally” Tyler Durden Wed, 11/18/2020 – 11:40

Progressive dissatisfaction with the Biden administration escalated overnight when the progressive organization Justice Democrats in a statement Tuesday criticized President-elect Joe Biden’s reported plans to make “corporate-friendly appointments” to his administration.

œIf Joe Biden continues making corporate-friendly appointments to his White House, he will risk quickly fracturing the hard-earned goodwill his team built with progressives to defeat Donald Trump, Justice Democrats Executive Director Alexandra Rojas said in a statement, echoing similar threats voiced previously from the ultra-progressive “squad.”

“A Biden administration dominated by corporate-friendly insiders like [former Biden chief of staff] Steve Ricchetti and [Rep.] Cedric Richmond [D-La.] will not help the President-elect usher in the most progressive Democratic administration in generations,” she added.

A Joe Biden administration dominated by corporate-friendly insiders will not help usher in the most progressive Democratic administration in generations.

This move gives greater urgency for Joe Biden to create …

UK giant Unilever bets on vegan food with ‘scary target’

The consumer giant wants a significant slice of sales to be plant-based as vegan foods take off.

Boeing’s 737 Max cleared to fly in the US after crashes

The jet has been grounded since March 2019, after two crashes that together killed 346 people.

Halfords sees popularity of e-scooters surge in lockdown

The retailer saw sales of electric-powered scooters rise despite road restrictions.

Bitcoin breaks $18,000 as rally powers on, all-time high in sight

The original and biggest cryptocurrency jumped as high as $18,483 and was last up 2%. It has soared about 160% this year and has jumped 17% in the last three days alone.

HSBC upgrades SpiceJet to buy, raises its target price by 200%

“The company expects 737 Max to return to operations by Q1 2021. Once 737 Max returns to operations, SpiceJet could start receiving incentives as part of the sales and lease back agreement,” said HSBC.

F&O: Nifty range widens to 12,700-13,200; cooling VIX aiding bulls

India VIX slipped 3.43 per cent from 19.13 to 19.12 levels. Volatility has cooled down significantly, but needs to continue at lower levels to ride the momentum with a higher market base.

October 2020 Residential Building Growth Stumbles

Written by Steven Hansen

Headline residential building permits and construction completion slowed – with the rolling averages also slowing.

: Vaccine optimism dampened as daily COVID-19 deaths reach record high

Daily COVID-19 deaths reach a record high, dampening recent optimism about the efficacy of vaccines currently in the final stages of testing.

: Why Poland and Hungary are blocking the EU’s $900 billion virus recovery fund

The Hungarian and Polish governments have withdrawn their approval for the launch of the European Union’s ‚¬750 billion COVID-19 recovery fund.

: American Airlines and British Airways trial free COVID testing on trans-Atlantic flights instead of quarantine rules

The three-test approach is aimed at confirming a passenger’s negative status for COVID-19 throughout the travel journey.