Written by Gary
US suffers its worst week of cases, deaths and hospitalizations since the start of the pandemic (SPY -0.9%). Stocks making the biggest moves midday: Tesla, Nio, Airbnb, Disney.
Here is the current market situation from CNN Money | |
North and South American markets are mixed today. The IPC is up 1.85% while the Bovespa gains 1.49%. The S&P 500 is off 0.80%. |
What Is Moving the Markets
Here are the headlines moving the markets. | |
World Oil Demand Hits Two-Month HighGlobal demand for road fuels hit a two-month high last week, recovering from the slowdown in October and November when many countries in Europe imposed lockdowns for a second time this year, according to various data points about road use, traffic jams, and road freight services tracked by Bloomberg. Last week, global road usage was 24 percent below the typical levels before the pandemic, but this was an improvement from the road travel and freight transportation in the middle of November, when road usage was 30 percent below pre-COVID levels, | |
EU Reaches Agreement On Emission CutsThe European Union earlier today finally reached an agreement on more stringent emissions-cutting goals for the next decade. After long discussions, the block agreed to aim for a 55-percent reduction in net greenhouse gas emissions by 2030 from 1990 levels, the AP reported, as it strives to become net neutral by 2050. The previous target for 2030 was a 40-percent reduction in emissions from 1990 levels. Europe is the leader in the fight against climate change, the president of the European Council, Charles Michel said in a tweet. | |
Texas Regulator Banned From Waiving Environmental RulesThe Texas Railroad Commission has been banned from enforcing a string of environmental rule waivers after a judge ruled the agency had failed to provide the public with adequate advance notice of such moves, first proposed in the spring. Bloomberg recalls that the TRRC approved measures including fee waivers and cleanup deadline extensions to help troubled oil and gas companies in the state cope more easily with the fallout from the pandemic, which in late April pushed West Texas Intermediate into negative territory for a few hours. The | |
Exxon Makes First Promising Offshore Discovery Off SurinameExxonMobil and its partner Petronas have discovered oil and gas offshore Suriname, which adds to Exxons numerous discoveries offshore Guyana in the same Guyana-Suriname basin, the U.S. supermajor said on Friday. The hydrocarbons were discovered in the Sloanea-1 exploration well on Block 52, which is operated by Malaysias Petronas with a 50-percent stake. Exxon holds the remaining 50-percent interest in the block. The discovery is currently being evaluated to see how much resources it could yield, Exxon and Petronas said. Our | |
The Top U.S. Shale Gas Basin Continues To Bleed CashThe shale revolution may have made the United States and the world’s largest natural gas producer, but it has failed to make the biggest U.S. shale gas drillers any richer. Frackers in the top shale gas basin, the Appalachia, continue to bleed cash, despite the deep cuts in capital expenditures this year as a result of the plunge in gas prices in the first half of 2020 due to mild winter early in the year and depressed demand later on with the pandemic. Nine of the biggest shale gas producers in Appalachia cut their capex in Q3 by over one-third | |
How Texas Could Bounce Back From The Oil Price CrashJust a decade ago West Texas was the very image of a thriving industry. Bobbing pumpjacks dotted the landscape as boomtowns like Midland exploded in a flurry of economic activity and an influx of workers to provide the labor force for the United States so-called shale revolution. Now, those boomtowns have gone bust and an ever-increasing number of those once industrious pumpjacks sit idle. The shale revolution was already in steep decline before the pandemic hit, but the novel coronavirus dealt that golden age its coup de grace during what | |
FDA chief says agency will quickly approve Pfizer’s Covid vaccine for emergency useThe authorization of the vaccine should come “in the next couple of days,” Alex Azar, secretary of the Department of Health and Human Services, said on ABC’s “Good Morning America.” | |
Stocks making the biggest moves midday: Tesla, Nio, Airbnb, Disney & moreCheck out the companies making headlines in midday trading. | |
Watch live: New York Gov. Cuomo holds a press briefing as state prepares to distribute Covid vaccineNew York Gov. Andrew Cuomo is scheduled to hold a press briefing Friday on the coronavirus pandemic as the state prepares to receive a Covid vaccine. | |
Watch live: World Health Organization holds press conference on the coronavirus outbreak as the U.S. is poised to clear Pfizer vaccineThe briefing comes as U.S. regulators say the authorization of Pfizer’s Covid-19 vaccine is imminent. | |
2020 has shone a light on the importance of good teachers, but many are paid less than a living wage in the U.S.A good teacher may be a key factor in student achievement, but in many parts of the country teachers live below a family living wage. | |
AMC secures $100 million investment, but bankruptcy concerns still loomAMC secured a $100 million investment from Mudrick Capital Management but it won’t be enough to solve liquidity issues. | |
Walmart prepares to administer Covid vaccines at stores across the U.S.Walmart is getting ready to administer Covid vaccinations across the country once a vaccine is approved, the company’s chief medical officer said Thursday. | |
Disney unloads a slew of impressive Disney+ announcements, announces price hikeDisney boosted estimates for Disney+ subscriber numbers, announced increased investment in original content and reiterated that it will be profitable in 2024. | |
Coronavirus vaccines will get GPS tracking and flight priority, UPS, FedEx sayFedEx and UPS outlined for lawmakers how they plan to prioritize and protect shipments of coronavirus vaccines when regulators sign off on the first ones. | |
Lululemon earnings, sales top estimates on strong demand for workout gearLululemon reported sales of $1.1 billion, up 22% from a year ago, beating analysts’ estimates as shoppers frequented its website to buy workout apparel. | |
Dr. Fauci says Covid vaccine trials on pregnant women and young kids could begin in JanuaryDr. Dorian Fink said that under an EUA, pregnant women and women of childbearing potential who are eligible to receive the vaccine will be “free to make their own decision.” | |
Taylor Swift to release ninth studio album ‘Evermore’ at midnightTaylor Swift is dropping a new album at midnight, titled “Evermore.” It is a “sister record” to Swift’s “Folklore” album which was released in July. | |
“Free Speech Is Being Weaponized”: Columbia Dean And New Yorker Writer Urges More Censorship“Free Speech Is Being Weaponized”: Columbia Dean And New Yorker Writer Urges More Censorship Tyler Durden Thu, 12/10/2020 – 21:00 Authored by Jonathan Turley, We have been discussing how reporters, editors, commentators, and academics have embraced rising calls for censorship and speech controls, including President-elect Joe Biden and key advisers. This includes | |
America Last: Melinda Gates ‘Incredibly Disappointed’ After Trump Gives Americans Vaxx FirstAmerica Last: Melinda Gates ‘Incredibly Disappointed’ After Trump Gives Americans Vaxx First Tyler Durden Thu, 12/10/2020 – 20:40 Melinda Gates is ‘incredibly disappointed’ that Americans will be receiving COVID-19 vaccines, developed by American companies, before the rest of the world. | |
The Oil Refinery Crisis Will Worsen This WinterThe Oil Refinery Crisis Will Worsen This Winter Tyler Durden Thu, 12/10/2020 – 20:20 Authored by Julianne Geiger via OilPrice.com, It was only to be expected that many of the world’s refiners would be pinched between low demand for finished products and rising inventories as the pandemic lockdowns continue to stifle activity. But the warm December that is expected this year is also threatening finished products demand. And it’s possible that many of the older, small refiners won’t survive at all. | |
California Versus TexasCalifornia Versus Texas Tyler Durden Thu, 12/10/2020 – 20:00 California has had a nearly identical case trajectory as Texas… | |
UK banks can weather pandemic, says Bank of EnglandMost risks to financial stability posed by Covid and a no-deal Brexit have been mitigated, the Bank says. | |
Odeon cinema owner warns of ‘unsustainable’ pathAMC Entertainment Holdings, owner of Odeon Cinemas, is burning through $125m a month. | |
Pound falls on the prospect of a no-deal BrexitPrime Minister Boris Johnson said it is ‘very, very likely’ the UK will not secure terms with the EU. | |
RBI new policy: Shriram Transport Finance meets past years criteria for dividend paymentAccording to Reserve Bank of India’s draft guidelines on dividend declaration by NBFCs, net NPA should be less than 6% in each of the last three years, including the accounting year for which it proposes to declare dividend. | |
Can credit rating agencies be liable for defaults? SAT to give its verdictPassing an interim order in the matter SAT opined œquestions arise in the matter whether a rating agency can be held liable for a credit default even if all the internal procedures were followed and there is no ‘mala fide’ intention on the part of CRA. | |
What brokerages are saying about UPL stock after whistleblower claimsInvestec, Edelweiss and CLSA have maintained buy ratings. Kotak Institutional Equities has maintained a sell rating. | |
The Ratings Game: Disney plans ‘content tsunami’ that should make smaller streaming players quiver, analyst saysWalt Disney Co.’s stock is surging toward yet another all-time high after the media giant impressed investors and analysts with its plans to dive even deeper into streaming. | |
Coronavirus Update: U.S. suffers its worst week of cases, deaths and hospitalizations since the start of the pandemicThe U.S. suffered its worst week for cases, deaths and hospitalizations with the coronavirus illness COVID-19, as the Food and Drug Administration said it would grant emergency use authorization to the vaccine developed by Pfizer Inc. and its Germany partner BioNTech SE. | |
Does COVID-19 have the power to revolutionize work? This economist says yesA new Vanguard study quantifies the future of remote work, and looks at the number of potential hybrid jobs. |
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