Written by Gary
Stocks soar on stimulus hope and smart money (SPY +1.4%). Treasury yields rise as investors keep eye on stimulus talks in Washington
The Market in Perspective
| Here are the headlines moving the markets. | |
 | Another Corruption Scandal Engulfs Ecuadors Oil IndustryThe trials and tribulations for Ecuadors deeply embattled petroleum industry continue. If crumbling infrastructure, refinery outages and pipeline ruptures were not enough, the Andean countrys state-controlled PetroEcuador finds itself embroiled in another scandal which could derail progress with reforming Ecuadors troubled energy sector. The national oil company which owns and operates Ecuadors refineries and related infrastructure is due to be merged with state-controlled PetroAmazonas which focuses on upstream operations. |
| India Starts Construction Of Worlds Largest Renewable Energy ParkIndias Prime Minister Narendra Modi officially launched on Tuesday the construction of a megapark that will produce 30 gigawatts (GW) of renewable energy and will be the worlds largest renewable energy facility. The Hybrid Renewable Energy Park in the district of Kutch in Gujarat will be the countrys largest renewable energy generation park, the office of the prime minister said ahead of Modis visit to the site. The hybrid renewable energy park will be largest in the world and generate 30,000 megawatts of power, |
| Will Oil Continue To Rally In 2021?Oil prices have finally hit $50 lastweek, aprojection that we made back in June this year. Bullish sentiment prevailed in the oil markets over the past weekdespite a significant increase in US crude oil inventories. Traders are expecting demand to pick up next year as vaccination campaigns are rolled out worldwide.Yet recent traffic data shows that road traffic is still below pre-crisis levels by 5% in Asia, 20% in Europe, and 40% in the US. The recent growth in US crude inventories is clearly due to an increase in imports |
| Southeast Asias $200+ Billion Renewables OpportunityThere is a $205-billion opportunity in renewable energy for Southeast Asia from which China, Japan, and South Korea could benefit as the biggest energy lenders to smaller countries in the region, Greenpeace has said in a new report. These three East Asian countries are top global energy investors, with established ties in Southeast Asia. But coal finance is drying up and banks are struggling to get a grip on clean energy finance. The climate crisis depends heavily on the flexibility and ingenuity of East Asian finance. And state-backed public |
| Oil Bulls Are Back Despite New COVID LockdownsOil prices continue to rise as the distribution of vaccines boosts optimism, with oil bulls appearing to ignore new lockdowns across EuropeChart of the Week- In 2019, the average monthly electricity bill for households declined to $115 per month, down by 1.8% compared to 2018.- That came despite rising prices average electricity prices rose by 12.87 cents per kWh. Lower bills were the result of lower consumption.- Hawaii has the highest electricity bills in |
| The Two Midstream Oil Stocks Set To Thrive In 2021Just like the rest of the oil and gas sector, the U.S. midstream oil and gas segment has been hugely disrupted by the plunge in global energy demand spawned by the coronavirus pandemic. Since the beginning of the current year, many North American midstream players have seen their market values cut roughly in half, with huge pullbacks in production as well as a ramping down of capacity by refineries, liquefaction facilities, and exporters taking a heavy toll. To make matters worse, many of these businesses have historically demonstrated weak earnings |
| FDA staff endorses emergency use of Moderna’s Covid vaccine in a critical step toward approvalModerna’s vaccine could be administered as early as next week if it wins emergency use authorization from the FDA. |
| Your next flight might be carrying Covid vaccines as United ships doses on passenger planesUnited Airlines has started shipping the Pfizer vaccine with passenger flights within the U.S. as demand for additional capacity increases. |
| FDA says fatigue, headaches and muscle pain are most common side effects of Moderna’s Covid vaccineOn a positive note, the data shows the shots were generally better tolerated by people over 64 who are also among the most vulnerable to the disease. |
| It’s going to be a make-or-break holiday season for these retailersAll retailers could use a strong holiday season to ring in 2021. But for some companies it is especially true, with the holidays being a make-or-break time. |
| Ford wants some Tesla buzz as all-electric Mach-E Mustang hits showroomsThe importance of the Mustang Mach-E can’t be understated. It needs to convince Wall Street that Ford’s EV plans are headed in the right direction. |
| FDA staff recommends watching for Bell’s palsy in Moderna and Pfizer vaccine recipientsThe FDA said that there were four reported cases of Bell’s palsy among Moderna’s 30,000 trial participants, including three who got the vaccine. |
| Buyers beware: Here’s why it might be too late to order your holiday gifts onlineTuesday marks the official cutoff in the United States for standard ground shipping by Dec. 24, for UPS, FedEx and the U.S. Postal Service. |
| Goldman Sachs CEO expresses concern about market euphoria driven by small investors buying IPOs“I do think we’re in a moment in time where there’s a lot of euphoria. I personally am concerned about that,” Goldman Sachs CEO David Solomon told CNBC. |
| 1 in 4 Americans will be working remotely in 2021, Upwork survey reveals1 in 4 Americans will be working remotely in 2021, Upwork survey reveals. |
| Op-ed: The clock is ticking. Here are some money moves to make before the year endsAs 2020 comes to a close, it’s a good time to consider making financial moves that reduce taxes, increase net investment income and decrease portfolio risk. |
| Here’s how much 5% invested in Tesla could have made for S&P 500 index fund investorAs Tesla gets ready to finally join the S&P 500, its soaring value and a booming IPO market remind index fund investors about the power of single-stock bets. |
| 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. |
| How smartphones and algorithms could transform the maintenance of city streetsTechnology has a role to play when it comes to identifying where road repairs are needed, which could help authorities to save money. |
| Stocks Soar On Stimulus Hope, Smart Money & The Dollar PukeStocks Soar On Stimulus Hope, Smart Money & The Dollar Puke Tyler Durden Tue, 12/15/2020 – 16:00 The S&P 500 broke its 4-day losing streak today (phew) as Pelosi invited McConnell, McCarthy, and (Mc)Schumer to chat about COVID Relief and the Omnibus bill. Small Caps dominated but everything was bid, erasing all of yesterday’s losses and more… |
| Rouhani Says Iran Would Rejoin Nuclear Deal “Within An Hour” Of US Signing OnRouhani Says Iran Would Rejoin Nuclear Deal “Within An Hour” Of US Signing On Tyler Durden Tue, 12/15/2020 – 15:45 Iran has made the biggest overture yet in terms of signaling the incoming Biden administration that it’s willing to work for a full return of US participation in the 2015 nuclear deal, or JCPOA. This would of course require that the Islamic Republic comes back into compliance with uranium enrichment caps and other stipulations involving advanced centrifuge numbers. The Guardian reports that Iranian President Hassan Rouhani on Monday said expressly that should the United States return to the deal, Iran would “follow within an hour”. Biden has long said he stands ready to bring the US back in despite Trump’s trying to box him in by heaping daily sanctions onto Iran’s already unprecedented economic isolation. “Iran would return to compliance with the nuclear deal within an hour of the US doing so, its president said ” but he faced further pressure from the outgoing Trump administration after it sanctioned two Iranian officials over their alleged involvement in the abduction of a former FBI agent,” said |
| Goldman Now Thinks Virus Aid Will Pass This Week, But Will Be Last “Substantial” Package Unless Dems Win GeorgiaGoldman Now Thinks Virus Aid Will Pass This Week, But Will Be Last “Substantial” Package Unless Dems Win Georgia Tyler Durden Tue, 12/15/2020 – 15:30 Having flip-flopped once already, back in September capitulating on expectations for a fiscal stimulus this year (which earlier this year was the basis for the bank’s bullish outlook), Goldman has just flip-flopped again in its views on a covid stimulus deal, and moments ago Goldman’s chief political economist Alec Phillips just sent out a note in which he said that “over the next day or so, Congress is likely to decide whether to pass fiscal relief measures or to push consideration of most of them to next year” adding that “the odds of a fiscal deal before year’s end have been improving” and “at this point, we think it is slightly more likely than not that Congress will pass this week a package similar to the recent $748bn bipartisan proposal, which would be close to our standing assumption of a $700bn (3.3% of GDP) package.” Translation: a deal will pass in the next 48 hours. And while it appears increasingly likely tha … |
| Joe Biden Warned In 2015 That Son Hunter’s New Employer And Burisma Boss Was CorruptJoe Biden Warned In 2015 That Son Hunter’s New Employer And Burisma Boss Was Corrupt Tyler Durden Tue, 12/15/2020 – 15:15 In today’s episode of ‘Things that should have come out during the impeachment,’ just-released diplomatic memos reveal that Vice President Joe Biden’s office was warned in 2015 that the Ukrainian oligarch who hired his son, Hunter, was deemed corrupt – and that the US Justice Department had gathered evidence to support that conclusion, according to Just The News. |
| Covid: Chaotic start for travellers’ Covid testing systemThe Test to Release programme is supposed to cut quarantine times for people arriving in England. |
| UK business ‘must wake up’ to China’s Uighur cotton slavesMPs say clothes retailers must act after the BBC disclosed the plight of China’s Uighurs and other minorities. |
| Barclays fined £26m for poor treatment of customersThe City watchdog says that the bank acted unfairly towards people, including the bereaved. |
| Bandhan widens acquisition hunt to foray into life insurance businessAmong India’s two dozen life insurance firm, DHFL Pramerica, Future Generali India Life Insurance and Reliance Nippon’s promoters’ stake sale plans are already in the public domain. |
| Wealthy HNIs are making a move to long-term government bonds; here’s whyBonds yielding more than 6.5% are now sought after as yields from short-term notes have collapsed to 3-3.5%. |
| Future Enterprises plans to prepay NCDs from proceeds of Reliance dealThe company has proposed to utilise the consideration received from the Rs 24,713 crore deal for pre-payment of the Non-Convertible Debentures (NCDs), FEL said in a regulatory filing. |
| Key Words: Small businesses have become ‘collateral damage’, says Warren Buffett ” urges Congress to renew PPP programBillionaire investor Warren Buffett urges Congress to approve aid to small businesses that have œbecome collateral damage in the necessary fight to contain the COVID-19 pandemic. |
| Bond Report: Treasury yields rise as investors keep eye on stimulus talks in WashingtonU.S. Treasury yields rise Tuesday, as investors keep an eye on negotiations in Washington toward another economic relief package as the number of COVID-19 cases climbed further. |
| : Here’s why London will be in COVID lockdown from Wednesday, one week after the first vaccine rolloutLondon’s lockdown will add another hit to the U.K.’s economy, which is already struggling with the COVID-19 pandemic’s consequences. |
Summary of Economic Releases this Week
Earnings Summary for Today
leading Stock Positions
Current Commodity Prices
Commodities are powered by Investing.com
Current Currency Crosses
The Forex Quotes are powered by Investing.com.
To contact me with questions, comments or constructive criticism is always encouraged and appreciated:
