Written by Gary
US investors remain cautious amid increasing fears of new lockdown measures (SPY -0.5%). COVID death toll tops 300,000 as vaccine distribution begins.
The Market in Perspective
Here are the headlines moving the markets. | |
Could Solar Power Save The Lone Star State?Texas, once the undisputed and seemingly infallible powerhouse of the United States energy sector and the worlds shale markets, is struggling to stay afloat. While the COVID-19 pandemic was disastrous for oil markets around the world, nowhere was harder hit than the Permian Basin. On April 20th the world watched as the final nail was driven into the shale revolutions coffin when the West Texas Intermediate crude benchmark did not just plunge into negative territory, it blew way past rock bottom and ended the day at nearly $40 | |
The UK Ends Support For Overseas Oil & Gas ProjectsThe United Kingdom will end direct government support to oil, gas, and coal project overseas as soon as possible, as part of the countrys ambition to support the energy transition, UK Prime Minister Boris Johnson said over the weekend. Ending taxpayer support for overseas fossil fuel projects is a major shift in policy, considering that the UK government has supported US$28 billion (21 billion) worth of UK oil and gas exports through trade promotion and export finance over the past four years alone. The decision to end | |
Battery Recycling Booms As The EV Revolution Kicks Into High GearThe rising popularity of electric vehicles (EVs) is often praised as the road to helping the world to reduce emissions. Yet, the advocates of the electric-car future often ignore some facts about the supply chain of the ongoing EV revolution. Key battery metals often come from unsustainable and ethically-compromised sources, while vehicle batteries often end up as waste somewhere at the end of their lifecycle. As EVs sales have grown in recent years, so have the number of companies working to recycle the spent EV batteries to | |
Upheaval In Big Oils Board RoomsA bevy of Royal Dutch Shells top clean energy executives picked up and resigned from the energy giant. They quit shortly before Shell was scheduled to announce its forward clean energy strategy. The financial press intimated that these executives left because the oil giant was moving too slowly to distance itself from its legacy oil and gas businesses. More resignations were supposedly on the way. We are not privy to inside information regarding these highly publicized departures but we are not totally surprised either. Weve seen | |
Supermajors Are Betting Big On Carbon CreditsPEAK OIL IS SUDDENLY UPON US blared a Bloomberg Green headline earlier this month. While the COVID-19 pandemic has been devastating for many economic sectors, few were as hard hit as the oil industry, which saw oil prices drop below zero in a historic bottoming out during what some are now referring to as Black April. In the wake of this largely unanticipated blow to once stalwart oil, groups like the World Economic Forum advocated for a new energy order and a great reset to catalyze | |
Exxon Vows To Reduce Emission IntensityExxonMobil plans to reduce the greenhouse gas emissions from its global upstream operations by 2025, in support of the Paris Agreement, the U.S. supermajor said on Monday, days after it was criticized, again, by shareholders for lacking plans for the energy transition. ExxonMobil now aims to reduce the intensity of the greenhouse gas emissions from its operated upstream assets by 15 to 20 percent by 2025, compared to 2016 levels. Exxons methane intensity is targeted to drop by 40 to 50 percent, and flaring intensity to decline by | |
Pfizer’s Covid vaccine is now shipping. Here’s how the U.S. plans to deliver itThe FDA just cleared the first Covid vaccine for emergency use. Within hours, FedEx and UPS will begin shipping 2.9 million doses across the country. | |
The U.S. Covid death toll tops 300,000 as vaccine distribution beginsThe U.S. has reported at least 16 million total Covid-19 cases, the most in the world, according to data compiled by Johns Hopkins University. | |
Not all older people can get a Covid vaccine right away. Most will have to wait a whileSome people age 65 or older will be prioritized in this early phase of distribution, while others likely will be waiting until the first quarter of 2021. | |
Here’s when the Covid vaccine could be available at your neighborhood drugstore, grocery storeCVS Health and Walgreens officials say they hope to give Covid-19 shots to the general public in the early spring. | |
U.S. plans to ship 6 million Moderna Covid vaccine doses once FDA gives OK, as early as week’s endU.S. officials said they plan to ship just under 6 million doses of Moderna’s Covid-19 vaccine once the FDA issues an approval for emergency use. | |
NJ governor optimistic on vaccine rollout but warns of holiday Covid spread“In the near term, I would just beg … people to do the right things and to keep their guard up,” New Jersey Gov. Phil Murphy told CNBC. | |
U.S. administers first shots of Pfizer’s Covid vaccine, launching a historic rollout“There is not one part of this country that’s not being touched today through Wednesday,” Gen. Gustave Perna, who’s in charge of logistics for Operation Warp Speed, said. | |
Funding for vaccine distribution at stake in the push for a new Covid relief billEfforts to fund distribution of the Covid-19 vaccine hung in the balance even as the first doses of Pfizer’s pioneering inoculation were being administered. | |
Stocks making the biggest moves midday: DoorDash, Airbnb, Denny’s, Virgin Galactic, Arvinas & moreDoorDash and Airbnb get downgraded. Elliott Management takes a stake in Public Storage. | |
Buy now, pay later plans are booming in the Covid economyNot unlike the old layaway, but now dubbed point-of-sale loans, these installment payments are once again shaking up the shopping scene. | |
Avoid these 11 most annoying business jargon words at all costs “how to speak more clearly and conciselyLove it or hate it, there’s no escaping that annoying business babble that permeates the workplace, no matter what industry you’re in or what level you’re at. | |
American Airlines flies its first coronavirus vaccines to Miami as industry hopes for a recoveryPassenger airlines have begun shipping coronavirus vaccines alongside FedEx and UPS. | |
United Auto Workers union settles corruption probe with Justice DepartmentU.S. Attorney Matthew Schneider and UAW President Rory Gamble announced a proposed civil settlement in a multiyear corruption probe Monday. | |
America’s V-Day Sparks Safe-Haven, Protection Buying As Stocks ‘Sell The News’America’s V-Day Sparks Safe-Haven, Protection Buying As Stocks ‘Sell The News’ Tyler Durden Mon, 12/14/2020 – 16:01 Small-Caps and Big-Tech managed gains on the day but S&P (4th down day in a row) and The Dow gave back all of their V-Day hype and stimulus hope gains overnight… | |
Boston Tightens COVID Restrictions As US Deaths Top 300K, First Health-Care Workers Vaccinated: Live UpdatesBoston Tightens COVID Restrictions As US Deaths Top 300K, First Health-Care Workers Vaccinated: Live Updates Tyler Durden Mon, 12/14/2020 – 15:59 Summary: Boston tightens COVID restrictions COVID vax success “promising” to help us fight off other disease US tops 300K COVID deaths Italy mulls holiday lockdown NJ sees surge in patients on ventilators; state sees most new cases since May Netherlands PM says lockdown will last at least 5 weeks Rate of patients on ventilators spikes in NJ First US patients vaccinated London enters tier 3 restrictions Netherlands follows Germany into hard lockdown US average deaths near 2.5K/day Italian government warns of new restrictions to come NJ cases top 400K Singapore approves Pfizer vaccine Netanyahu enters quarantine after COVID exposure * * * Update (1350ET): Boston, one of America’s oldest cities (and, according to some, most racist) cities, has just announced that it w … | |
Sen. Johnson: Congress Should Have Been Told About DOJ Hunter Biden ProbeSen. Johnson: Congress Should Have Been Told About DOJ Hunter Biden Probe Tyler Durden Mon, 12/14/2020 – 15:40 Authored by Jack Phillips via The Epoch Times, Sen. Ron Johnson (R-Wis.), chairman of the Senate Homeland Security and Governmental Affairs Committee, said Congress should have been told that Hunter Biden’s business dealings were being investigated as they were conducting President Donald Trump’s impeachment inquiry and trial.
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BofA Lists “Five Volatility Inducing Surprises” For 2021BofA Lists “Five Volatility Inducing Surprises” For 2021 Tyler Durden Mon, 12/14/2020 – 15:20 While consensus is uniformly, concerningly bullish about 2021, with the average sellside forecast expecting a more than 10% rise in the S&P500 which is now seen as hitting 4,035 in 2021, up from below 3,000 just in May… | |
Asda beefs up anti-Covid security for ChristmasThe supermarket is taking extra measures to prevent overcrowding and stop the virus spreading. | |
Covid: GPs complain of delays in receiving virus vaccineDoctors are having to cancel vaccination appointments because the doses haven’t arrived as planned. | |
Adidas considers selling off its Reebok brandThe German sportswear giant is considering options for Reebok, which might lead to a sale. | |
Don’t expect much from gold in the near term; here’s whyœThe investor demand for bullion has dropped following the stock market rally. They are not keen to check out gold at this point in time, Mukesh Kothari, director, RiddiSiddhi Bullions, told ET. | |
Mutual funds or stocks? Why comparing MF returns with benchmarks is meaninglessSometimes the stocks versus funds question is framed as one of a comparison of return, generally by comparing average mutual fund returns with benchmarks. This is a meaningless comparison. Here’s why. | |
Nifty likely to touch 15,000 by December 2021, says JP MorganJP Morgan said the Indian economy does not appear strong enough to drive upgrades on already lofty earnings forecasts. | |
The Fed: What to watch for when Fed meets WednesdayHere’s a look at what economists and investors will be watching for when the Fed concludes the two-day meeting on Wednesday. | |
Coronavirus Update: U.S. tops 300,000 COVID-19 deaths on the same day vaccinations beginThe U.S. reached the sobering milestone of 300,000 for COVID-19 related deaths on Monday, a contrast to the hope and relief felt after the first person in the U.S. received a shot to protect against the deadly pandemic. | |
Realtor.com: Will Ivanka and Jared move to ‘Billionaires Bunker’ in Florida?Are Ivanka Trump and Jared Kushner trading the political life in Washington, DC, for some fun in the sun? According to the New York Post, the young couple have bought a nearly 2-acre lot of land in Florida for the tidy sum of $31.8 million. |
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