14Dec2020 Market Close: Wall Street Closes Mixed, DOW Finishes Session Down 185 Points, Nasdaq Up +0.5%, WTI Settles At 46.99, Battery Recycling Booms

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 Projects

The 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 Gear

The 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 Rooms

A 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 Credits

PEAK 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 Intensity

ExxonMobil 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 it

The 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 begins

The 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 while

Some 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 store

CVS 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 end

U.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 bill

Efforts 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 & more

DoorDash and Airbnb get downgraded. Elliott Management takes a stake in Public Storage.

Buy now, pay later plans are booming in the Covid economy

Not 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 concisely

Love 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 recovery

Passenger airlines have begun shipping coronavirus vaccines alongside FedEx and UPS.

United Auto Workers union settles corruption probe with Justice Department

U.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 Updates

Boston 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 Probe

Sen. 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.

œI’m sympathetic for keeping investigations confidential unless there’s an indictment, Johnson told Fox Business’ œSunday Morning Futures.

œBut when you’re talking about investigations within the political realm, particularly one that would have affected the impeachment trial of the sitting U.S. president in the U.S. Senate, that should have been relevant information, the fact that they had Hunter Biden’s computer that had all these emails back in December 2019.

…

BofA Lists “Five Volatility Inducing Surprises” For 2021

BofA 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 Christmas

The supermarket is taking extra measures to prevent overcrowding and stop the virus spreading.

Covid: GPs complain of delays in receiving virus vaccine

Doctors are having to cancel vaccination appointments because the doses haven’t arrived as planned.

Adidas considers selling off its Reebok brand

The 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 why

œThe 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 meaningless

Sometimes 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 Morgan

JP 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 Wednesday

Here’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 begin

The 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.