Written by Gary
Gap shares tumble as earnings fall short, retailer ‘remains optimistic’ about the holidays (SPY -0.1%). Weekly U.S. initial jobless claims rise by 30,000 to 778,000.
Here is the current market situation from CNN Money | |
 | European markets are mixed. The CAC 40 is higher by 1.21%, while the FTSE 100 is leading the DAX lower. They are down 0.56% and 0.25% respectively. |
What Is Moving the Markets
| Here are the headlines moving the markets. | |
 | Colorado Approves Stricter Rules For Oil & Gas DrillingThe Colorado Oil and Gas Conservation Commission (COGCC) approved this week stricter rules for oil and gas drilling, extending the setbacks for oil wells from homes and schools to 2,000 feet, four times the current buffer, and banning routine flaring as of January 15, 2021. The COGCC had been considering for months changes to the state regulations about oil and gas drilling in Colorado after the state passed in 2019Senate Bill 181, which says that public health and welfare should be prioritized in the regulation of oil and gas drilling. |
| Bitcoin Soars Above $19,000 As Gold SinksBitcoin bulls have had little to cheer about since the mega-rally of three years ago that saw the bitcoin price rally from under $1,000 to nearly $20,000 in the space of a few weeks. That rally was a speculators dream but had all the makings of a massive bubble that could burst at any time. For instance, Bitcoin’s big move in 2017 saw the leading crypto spend just a handful of days above $15K before it all came crashing down. The current rally has, however, seen the BTC price record a 60% gain over the past 80 days and not a single daily |
| Three Key Differences Between Biden And Trump On ChinaGiven Chinas burgeoning role in the Middle East – with Iran and Iraq, in particular, irreplaceable staging posts for Beijings multi-layered, multi-generational Belt and Road Initiative (BRI) how U.S. President-elect, Joe Biden, deals with the country is a key question for the oil industry. According to a range of senior sources in Washington close to the new administration and to sources close to the governing administrations in Tehran and Baghdad spoke to exclusively by OilPrice.com last week, the approach of |
| The Investment Trend That Could Send Tesla To $2 TrillionHedge fund bulls say Tesla (NASDAQ:TSLA) is on its way to a $2-trillion market cap after gaining 400% this year Its already worth 5X the combined value of giants Ford and GM, and its an industry disrupter thats making millionaires out of anyone who ties-in with them. And the auto industry disruption tie-ins are many, varied and potentially lucrative. From new EV startups and batteries or fuel cells To ride-sharing with an ESG twist and car subscription companies that are challenging our ideas of ownership. |
| Why The Vaccine Oil Rally Won’t LastOil is on the rise after a third company developing a vaccine for Covid-19 announced positive efficacy results this week. They may well continue to rise for a while, but it would pay to be careful with betting on an endless rally. Yesterday, after AstraZeneca said its vaccine candidate had 90% efficacy in some cases, oil benchmarks jumped to the highest in three months as traders rushed to build their positions ahead of the rebound that should logically follow a successful vaccination campaign. Fund managers also went on a buying spree, Reuterss |
| Can Big Oil Make Carbon Capture Mainstream?The growing global drive to curb emissions has called attention to the processes of carbon capture, utilization, and storage (CCUS), heralded as an indispensable technology that will help the world reach the much-hyped net-zero emissions. The carbon capture concept and related technologies have been around for years. But the fight against climate change has prompted governments, major oil and gas companies, and scientists to pay more and more attention to the idea that sucking carbon out of industrial emissions or directly from air could be a way |
| Health care is going digital and that could make it ‘almost free,’ says tech investor Tim DraperIn future, artificial intelligence will help to diagnose patients and develop the medicine required at “very low costs,” says venture capitalist Tim Draper. |
| Nikola shares fall after CEO fails to reassure investors GM won’t pull out of $2 billion dealNikola stock fell during afterhours trading after its CEO declined to comment on a deal being finalized with GM and a potential stock selloff by its ex-chairman. |
| Texas food bank doubles amount of people it serves amid coronavirus pandemicEric Cooper, CEO of the San Antonio Food Bank in Texas, said that they now feed double the amount of people they used to compared to pre-pandemic levels. |
| Investors try to gauge if retail’s stay-at-home trends will stick as Covid vaccine is in sightInvestors are getting nervous about whether retailers like Best Buy and Home Depot that have benefited from stay-at-home trends can sustain their momentum. |
| Texas hospitals prepare to administer Covid vaccine shots in less than three weeks“I didn’t expect to get vaccine so soon, frankly,” chief clinical officer of UT Health Dr. Amy Young said. “We’ll be ready for it whenever we get it.” |
| Anti-spending movement gains momentum ahead of Black FridayHoliday debt typically rises every year, but in 2020 financial experts caution shoppers to stick to a budget. |
| 5 things to know before the stock market opens WednesdayStocks looked to take a breather on Wednesday following a banner day on Wall Street. |
| Why Pizza Hut fell behind in the pizza warsSince the start of the coronavirus pandemic, pizza makers that have their delivery game in place and digital assets in order have seen big gains. |
| Covid cases are exploding across U.S. and Thanksgiving could be an ‘accelerator event’“I’m not scared for the day itself, but for what’s going to happen, two, three, and four weeks later,” Dr. Megan Ranney, an emergency physician in Rhode Island, said. |
| FDA clears a ‘new generation’ of Covid antibody test designed to tell how well someone is protected against the virusThe new test is important because it can be used by researchers to further study the relationship between Covid-19 antibodies and protection against the virus. |
| Gap shares tumble as earnings fall short, retailer ‘remains optimistic’ about the holidaysGap reported fiscal third-quarter earnings that fell short of expectations, as higher spending on marketing offset sales gains at Old Navy and Athleta. |
| Nordstrom shares rise as retailer shows signs of recovery, helped by its Anniversary SaleNordstrom CEO Erik Nordstrom said the retailer has made strides with its online business, especially since its stores were temporarily shuttered. |
| U.S. to test run Covid vaccine distribution networks as it awaits FDA clearance in ‘just a few weeks’The shipments, which won’t contain the actual vaccine vials, will test the systems used by state health departments to order vaccine doses. |
| Durables Goods Orders Jump In October, Remain Down Year-Over-YearDurables Goods Orders Jump In October, Remain Down Year-Over-Year Tyler Durden Wed, 11/25/2020 – 08:40 US durable goods orders were expected to slow their growth in preliminary October data, but instead rose more than expected, up 1.3% MoM (vs +0.8% exp). However, despite the beat, durable goods orders remain down 1.1% YoY… |
| Q3 GDP Unchanged At Record 33.1% In First RevisionQ3 GDP Unchanged At Record 33.1% In First Revision Tyler Durden Wed, 11/25/2020 – 08:36 With traders’ eyes looking beyond Q4 GDP and to Q1 2021, where some banks such as GDP are already expecting a double dip with a -1.0% contraction forecast, few will care how or why the BEA revised its estimate of the record Q3 GDP, but for the record, moments ago the Dept of Commerce announced that in the third quarter, GDP rose an annualized 33.1%, unchanged from the first estimate and right on top of expectations. |
| Initial Jobless Claims Rise For 2nd Week In A Row, Pandemic Claims SoarInitial Jobless Claims Rise For 2nd Week In A Row, Pandemic Claims Soar Tyler Durden Wed, 11/25/2020 – 08:34 For the second week in a row, the number of Americans filing for first time unemployment claims has risen (printing at 778k vs 730k exp and 742k prior)… |
| Rationally IrrationalRationally Irrational Tyler Durden Wed, 11/25/2020 – 08:14 Authored by Bill Blain via MorningPorridge.com, œSix impossible things before breakfast ¦ As US Stocks hit a cosmetic high, Bitcoin roars higher and Tesla defies gravity, what does it all mean? Have you planted your spring bulbs yet? |
| Spending review: Chancellor warns of ‘lasting’ damage to UK economyOfficial forecasts warn the UK economy will shrink 11.3% this year due to the impact of the virus. |
| Low-paid public sector workers to get £250 pay risePublic sector pay will be frozen but low-paid and NHS workers will get raises, the chancellor has said. |
| Spending Review: Unemployed predicted to rise to 2.6 millionThe chancellor says the “economic emergency” has “just begun”, but promises more help for the jobless. |
| What made Raamdeo Agrawal enter stocks, adopt BuffettologyœIn my first two years of research, I used to go to office at 10 am and leave at 10 pm. Many times, I used to skip lunch. I was quite dedicated and I learnt a lot. That was the basic foundation that I built at Motilal Oswal, he said. |
| 9 stocks that are flashing BUY signals on the tech chartsThe stock markets are trading at all-time highs but rising valuations are a concern for many analysts and hence they recommend adopting a stock-specific approach. “We reiterate our view to focus on the selection of sectors and stocks as we’re seeing rotational buying across the board,” Ajit Mishra, Religare Broking said.Here are 9 stocks that analysts believe can offer solid returns in near-term: |
| Need to learn from others’ mistakes to succeed in investing: Vijay KediaKedia says the more you fail in the market, the more you will learn. œThat’s why failure is important in the equity market. It is important to stay on the pitch and play, he says and admits that he too has a long list of failures in the stock market. |
| Need to Know: Why it’s worth sticking with stocks even at record levels, HSBC strategist saysJust because everyone is talking about stocks going up doesn’t mean they’re wrong. One strategist explains why he’s bullish. |
| Dispatches from a Pandemic: Pope Francis takes aim at anti-mask protesters: ‘They are incapable of moving outside of their own little world’In his new book, the pontiff asks, ‘What matters more ” to take care of people or keep the financial system going?’ |
| Futures Movers: Oil prices extend rise on COVID vaccine optimismOil prices continue to steam higher Wednesday, shrugging off an unexpected rise in U.S. crude inventories, as investors remain focused on optimism over a COVID-19 vaccine. |
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