08Dec2020 Midday Update: Wall Street Recovers From Earlier Decline, Turns Positive As Pfizer Begins UK Vaccine Rollout, DOW Up 95 Points, Nasdaq Flat, Bitcoin Below 19K Again At 18870

Here is the current market situation from CNN Money

North and South American markets are higher today with shares in Mexico leading the region. The IPC is up 0.38% while Brazil’s Bovespa is up 0.35% and U.S.’s S&P 500 is up 0.11%.

Asia Free Trade Deal Widens Oil Supply Channels To China

The Regional Comprehensive Economic Partnership that 15 Asian nations signed last month will place South Korea and Japan in a more favorable position as oil product suppliers to China, Bloomberg has reported, noting the pact will lead to a gradual reduction in import tariffs between signatories. Thanks to their proximity to the worlds largest importer of oil, Japan and South Korea are likely to gain market share at the expense of Singapore and Malaysia, which are further from China. China imported some $12 billion worth of oil products,

Qatar Set To Significantly Boost Energy Investments In India

Major energy importer India and one of the worlds top liquefied natural gas (LNG) exporters, Qatar, agreed on Tuesday to create a special task force to explore and facilitate Qatari investments in India, including in the energy sector. In a telephone conversation today, Indias Prime Minister Narendra Modi and the Emir of Qatar, Sheikh Tamim Bin Hamad Al-Thani, agreed to deepen cooperation in the energy sector, the Indian government said in a statement. The two leaders discussed the robust cooperation between both countries

ADNOC Reduces January Oil Shipments

The UAEs biggest oil company, ADNOC, has told some buyers it will reduce shipments for January, Reuters has reported, citing sources in the know. The biggest cut will be in shipments of ADNOCs flagship grade, Murban. The company will also cut supplies of the Upper Zakum and Das grades by 15 percent, the sources said. These reductions come on top of another 20-percent cut in allocations effected for shipments arriving this month. The Emirati company recently boosted its total oil reserves by 2 billion barrels of oil to 107 billion

Chinas Oil Buying Spree Is Slowing

Chinas record-high imports from earlier this year continued to slow down last month along with other commodity imports, as demand growth slackens. The average amount of oil China imported in November stood at 11.04 million bpd, Reuters Clyde Russell wrote today, noting it was more than a million bpd higher than the October average but slightly lower than the average for November 2019. One reason for the monthly increase was a result of delayed shipments, Russell noted. Indeed, Chinas crude oil buying binge earlier this year

Oil Markets Are Finally Ready To Recover

The oil markets have staged a dramatic rally since early November, with WTI breaking out of a range between the high $30s and low $40s for the first time since early this year. In this article, we will take a look at a couple of key drivers for this breakout, and see if it will continue on into the New Year. What caused the rally? Fundamentals for crude oil have been gradually improving over the last 6-months. The massive 550 mm supply overhang from early January has been gradually whittled down to just above 475 mm bbls. Now, that

The Tiny Oil Nation At The Center Of A Middle East Power Struggle

Now that Bahrain is part of the new U.S.-Israel-Middle East corridor of co-operation that is being developed from the U.S. (and Israel), through the UAE (and Bahrain, Kuwait and, in part, Saudi Arabia) through to India, as a regional counterbalance to Chinas growing sphere of influence, a series of finance- and oil output-boosting measures are being lined up. From the U.S.-Israel perspective, not only will increasing Bahrains oil output bolster the stability of the pro-U.S. ruling al-Khalifa royal family essential to the security

Oxford-AstraZeneca vaccine is safe and effective, researchers confirm in peer-reviewed study

The coronavirus vaccine developed by British pharmaceuticals giant AstraZeneca, in collaboration with the University of Oxford, is the first to have its late-stage trial results independently reviewed and published in a medical journal.

Boeing reports more 737 Max cancellations as airlines prepare to return the plane to service

Boeing reported 88 cancellations for the 737 Max plane as well as some orders for a larger variant by Virgin Australia.

General Motors will not offer buyouts to GMC dealers who don’t want to sell Hummer EVs

About half of GMC’s 1,695 dealers have agreed to invest and sell electric vehicles, beginning next fall with the GMC Hummer EV pickup.

UK begins rollout of Pfizer’s coronavirus vaccine: Here’s what you need to know

Ninety-year-old Margaret Keenan on Tuesday became the first person in the world to receive the Pfizer-BioNTech vaccine outside of trial conditions.

Covid has spurred a bike boom, but most U.S. cities aren’t ready for it

Bikes have been a hot ticket item during the Covid pandemic, as more people look for recreational activities and outdoor transportation.

Grubhub offers restaurants new ways to receive orders “without paying commission fees

Grubhub is giving restaurants new tools for commission-free orders as more states force eateries to turn once again to delivery and takeout for survival.

Howard Stern extends long-running SiriusXM Radio deal for five more years

Howard Stern has extended his long-running deal with SiriusXM, adding another five years to his contract to produce and host “The Howard Stern Show.”

FDA says Pfizer Covid vaccine provides some protection after first dose, meets success criteria

The FDA said data from Pfizer’s coronavirus vaccine trials was “consistent” with recommendations put forth by the agency for an emergency use authorization.

U.S. declined to buy more Pfizer Covid vaccine doses, even after interim data, board member Gottlieb says

“Pfizer did offer up an additional allotment … to the United States government multiple times,” Dr. Scott Gottlieb told CNBC.

American Airlines starts offering $129 at-home Covid tests for U.S. travel to avoid quarantines

American Airlines will start offering at-home coronavirus tests this week for travelers booked to several domestic destinations to help them avoid quarantine.

Tesla to raise up to $5 billion in share offering, its second in three months

Tesla has entered an equity distribution agreement with some banks to sell shares worth up to $5 billion, the electric car maker said in a filing.

Dr. Vin Gupta: U.S. should be in a Covid disaster mindset for next two months

America should be “deploying disaster credentials for anybody who’s trained appropriately in ICU medicine,” the University of Washington professor told CNBC.

We’ve reached a ‘turning point’ on the electrification of vehicles, Nissan executive says

Infrastructure will play a huge role when it comes to supporting the roll-out of more electric vehicles in the years ahead.

AstraZeneca Vaccine Only 62% Effective; Impact On Elderly Unclear As More Data Needed

AstraZeneca Vaccine Only 62% Effective; Impact On Elderly Unclear As More Data Needed Tyler Durden Tue, 12/08/2020 – 11:33

Unlike the last few weeks, ‘vaccine Monday’ has become ‘vaccine Tuesday’, as the Britain’s “V-Day” vaccinations grabbed headlines earlier, and now the country’s most promising project – the AstraZeneca-Oxford jab – has published peer-reviewed data in the Lancet purporting to show that the shot is safe and effective. However, many questions about its efficacy and safety remain, and if anything, the data suggests that more research on the jab is needed.

Darknet Markets Made More Money Than Ever In 2020

Darknet Markets Made More Money Than Ever In 2020 Tyler Durden Tue, 12/08/2020 – 11:30

Authored by Scott Chipolina via Decrypt.co,

In brief

According to a Chainalysis report, darknet markets are decreasing in number but increasing in revenue.

Chainalysis suggests COVID-19 was not the biggest factor in this trend.

However, the pandemic has put pressure on darknet market vendors due to strained supply chains and shipping routes.

New York Sends “Mask Squads” To Enforce Social Distancing In Two Counties

New York Sends “Mask Squads” To Enforce Social Distancing In Two Counties Tyler Durden Tue, 12/08/2020 – 11:09

In another page right out of the gestapo playbook, the Health Department of New York state – which is now losing thousands of people every day due to its high taxes, draconian rules and coercive regulations – has put out an urgent appeal for what the NY Post called “Mask squad” staffers to go to Rockland and Orange counties “to perform COVID-19 community outreach and enforce mask and social distancing safety protocols amid fears of a second wave of the virus.”

“The DOH is responsible for community outreach and enforcement of Executive Orders and regulations related to the use of face-coverings/masks and social distancing to prevent the spread of COVID-19,” the department said in a Monday email to employees in its office of health insurance programs.

“Staff is needed for immediate URGENT deployment to Orange and Rockland counties to assist with this critical public health and community enforcement effort, the recruitment pitch to staffers in the agency’s office of health insurance programs obtained by the Post said.

Staffers would volunteer to work in Orange and Rockland counties in shifts t …

Liberal Santa Claus Makes Kid Cry By Refusing To Give Him A Nerf Gun For Christmas

Liberal Santa Claus Makes Kid Cry By Refusing To Give Him A Nerf Gun For Christmas Tyler Durden Tue, 12/08/2020 – 10:50

Authored by Paul Joseph Watson via Summit News,

A viral video shows a liberal pro-gun control, Santa Claus, making a small child cry by refusing to give him a toy nerf gun for Christmas.

Honda warns of parts shortage due to UK port woes

The Japanese carmaker says congestion at UK ports could hamper production at its Swindon plant.

Brexit food supply fears grow: ‘It’s too late, baby’

The industry tells MPs it has not had enough time to prepare for the end of the Brexit transition period.

Covid: Christmas comes early as grocery sales ‘hit record’ in November

Spending surged last month as eating out was restricted by England’s national lockdown, figures suggest.

Yen carry trade is back in vogue. Look who is benefiting

Record rate reductions have caused the tri-party repo rates to fall below the reverse repo – and banks are making money without much sweat.

Retail NPAs might spike to 10-year high of 4%: Report

œAs the moratorium period ended in August 2020, we could see some increase in retail stress in the coming quarters, said Suresh Ganapathy, associate director, Macquarie Capital.

S&P Global revises Tata Steel’s outlook to stable from negative on earnings rebound

The global rating agency has also affirmed B+ long-term issuer credit ratings on the two companies and the B+ long-term issue rating on the senior unsecured notes issued by ABJA.

The Margin: Still refusing to wear a mask? Bill Nye would like to have a word with you

Bill Nye struck TikTok gold over the weekend, racking up about 14 million views with his rant aimed at anti-maskers.

: Here’s the timeline for vaccine approval around the world, as U.K. authorizes COVID-19 shot

The U.K. has approved the COVID-19 vaccine from Pfizer and BioNTech, paving the way for vaccinations to begin weeks ahead of much of the rest of the world.

Europe Markets: European stocks struggle for direction as Brexit fears overshadow COVID-19 vaccine milestone

European stocks were mixed early on Tuesday, despite the first people in the U.K. being vaccinated against COVID-19, as the post-Brexit trade deadlock continued to weigh on sentiment.