Written by Gary
U.S. weekly jobless claims total 885,000, vs 808,000 expected (SPY +0.4%).
Here is the current market situation from CNN Money | |
European markets are higher today with shares in Germany leading the region. The DAX is up 0.76% while France’s CAC 40 is up 0.31% and London’s FTSE 100 is up 0.09%. |
What Is Moving the Markets
Here are the headlines moving the markets. | |
Offshore Oils Dramatic ComebackSmack dab in the middle of an oil price crisis caused by an unprecedented demand loss, Exxon announced the latest in a string of discoveries off the eastern South American shore, this time in Suriname. It must have felt like adding insult to injury for OPEC producers and reckless behavior for investors, but offshore oil may yet thrive despite the crisis. During the 2014-2015 oil price collapse, offshore oil drilling was one of the most affected areas. Offshore drilling companies went bankrupt, exploration projects were shelved, and staff was laid | |
2 Electric Car Stocks To Watch In 2021In 2021 two stocks could break out big (details and ticker symbols below). The first is owned by the soon to be richest man on the planet. And the second is just getting started. This topsy-turvy year is finally looking — for investors — to end on a high note. While 2020 has been a true rollercoaster ride, starting on a dizzying high before rapidly sinking into the abyss So, while the Covid-19 pandemic annihilated the global financial markets; wiped out three years of gains in a matter of weeks and set the record for the | |
Will Biden Seal The Fate Of The U.S. Shale Patch?Its a tale as old as time: theres a new sheriff in town, and the first item on the agenda is wiping out or otherwise undermining the policies of the old regime. It should come as no shock to anyone that President-elect Joe Biden is treading the same worn path as so many before him. And whereas incumbent President Trump was loyal to shale arguably to a fault, Biden has made lofty campaign trail promises to target aggressive emissions reductions that have shale executives nervous, to say the least. While many will | |
Norways 2021 Oil Investments Set To Fall Less Than FearedInvestments in oil and gas offshore Norway are set to decline by 4.2 percent next year compared to 2020, a smaller drop than what the industry feared in early 2020, the Norwegian Oil and Gas Association said on Wednesday. Next year, total investments in oil and gas development in the seas around Norway are expected to fall to US$20.5 billion (178.4 billion Norwegian crowns), down by 4.2 percent compared to the latest estimate by Statistics Norway for oil and gas investments in the country for 2020. However, the decline expected next year | |
The Pipeline Tech Transforming The Oil IndustryMonitoring and maintenance of pipelines costs energy companies approximately $1.4 billion every year. But what if innovative solutions could help rein in this cost by automating monitoring processes and communicating maintenance issues through smart technology? Were already starting to see the use of drones for pipeline monitoring purposes, but some companies are going directly to the source by creating smart solutions for pipelines. Smart pipelines are one of the ways the industry is tackling the issue of monitoring and maintenance. | |
Falling Battery Costs To Help EV Prices Match ICE Vehicles in 2023Electric vehicles (EVs) are set to erase the current price advantage of conventional cars when battery pack prices drop to $100 per kilowatt-hour in 2023, BNEFs new 2020 Battery Price Survey showed on Wednesday. Average battery prices below $100/kWh are widely considered as thetipping pointfor mass EV adoption. Lithium-ion battery pack prices have declined by 87 percent from 2010 to 2019, with the volume-weighted average hitting US$156/kWh last year, according to estimates from BNEF. By 2024, battery | |
5 ways the coronavirus pandemic is reshaping the future of retail stores2020 has given retailers the chance to rethink the role of the brick-and-mortar store. A new report from CBRE showcases what the store of the future looks like. | |
Gatorade finds its new Derek Jeter in young Padres star Fernando Tatis Jr.The San Diego Padres star shortstop agreed to an endorsement deal with the Pepsi-owned company. | |
5 things to know before the stock market opens ThursdayU.S. stock futures rose Thursday, one day after the S&P 500’s finished just 1 point shy of last week’s record close. | |
Russia’s Putin says he hasn’t had Covid vaccine yet because he’s too oldAt his annual December press conference, Putin encouraged Russians to take the “Sputnik V” vaccine and said he would receive it as soon as he was able to. | |
5 things to know before FDA panel votes on Moderna’s Covid vaccine ThursdayA key FDA panel is scheduled to vote Thursday on whether to recommend the approval of Moderna’s Covid-19 vaccine for emergency use. | |
2021 will see ‘vaccine cooperation, not competition,’ Russian official says after AstraZeneca tie-upCooperation between vaccine maker will increase in 2021, according to the head of Russia’s sovereign wealth fund, the backer of the country’s coronavirus vaccine. | |
Lift reservations and quiet après ski parties: What skiing will be like this winterAs the ski industry approaches its first winter season under the pandemic, CNBC takes a look at how the industry and travelers can safely navigate the slopes. | |
France’s Macron tests positive for Covid, prompting other top EU officials to isolateThe news of Macron’s positive diagnosis has prompted other government officials to go into quarantine. | |
Covid vaccines will bring recovery in 2021 ” but it won’t be ‘business as usual,’ says Singapore ministerVivian Balakrishnan, Singapore’s foreign minister, said technology such as artificial intelligence and robotics will alter jobs and economies globally. | |
Former Obama HHS official criticizes Trump administration’s global Covid approachFormer HHS official, Dr. Mario Ramirez, explains why he’s œconcerned about equal access to Covid resources around the globe, and discusses his vaccine experience. | |
MP Materials CEO says rare magnets supplier is a ‘picks-and-shovels play’ for EV marketMP Materials CEO James Litinsky addressed confusion about the rare earth products the company provides in the electric vehicle space. | |
Jim Cramer on stock market pessimism: ‘As long as we have doubters, we can rally’“I’m actually thrilled by all the negativity because it means stocks can still go higher,” the “Mad Money” host said. | |
Adidas will keep opening new stores despite Covid e-commerce surge, CEO says“We think the stores are still here to stay, but coupled much closer to the online experience,” Adidas CEO Kasper Rorsted told CNBC. | |
Euphoria Goes To 11: Futures, Global Markets, Bitcoin Soar As Dollar Collapse ContinuesEuphoria Goes To 11: Futures, Global Markets, Bitcoin Soar As Dollar Collapse Continues Tyler Durden Thu, 12/17/2020 – 08:12 Global stocks scaled new record highs, bitcoin exploded to never before seen levels and oil also marched higher on Thursday as investors waved in anything that isn’t nailed down, on hopes of a U.S. fiscal stimulus and the Federal Reserve’s pledge to keep pumping cash into markets and extending FX swap lines, which naturally kept pressure on the dollar. At 7:15am, S&P 500 E-minis were up 18 points, or 0.49%, trading off openinghighs. Dow E-minis were up 100 points, or 0.35%, while Nasdaq 100 E-minis were up 59.75 points, or 0.41%. | |
AOC Says Pelosi, Schumer Need To GoAOC Says Pelosi, Schumer Need To Go Tyler Durden Thu, 12/17/2020 – 08:03 Authored by Douglas Braff via SaraACarter.com, Rep. Alexandria Ocasio-Cortez (D-N.Y.) said that the Democratic Party needs new leadership, specifically stating that House Speaker Nancy Pelosi and Senate Minority Leader Chuck Schumer need to go. She warned, however, that a power vacuum within the Democratic Party could be filled by œnefarious forces who are œeven more conservative than the current caucus leaders. | |
“The State Has Provided No Evidence”: San Diego Judge Nukes Newsom’s Lockdown For Strip Clubs And Restaurants“The State Has Provided No Evidence”: San Diego Judge Nukes Newsom’s Lockdown For Strip Clubs And Restaurants Tyler Durden Thu, 12/17/2020 – 07:45 A California judge just made it rain for two San Diego strip clubs on Wednesday, ruling that both the state and the county are prohibited from enforcing Governor Gavin Newsom’s regional stay-at-home order. In a nine-page ruling, Judge Joel R. Wohlfeil ruled that California and San Diego County haven’t provided sufficient evidence tying the spread of COVID-19 or lack of ICU bed capacity to adult entertai … | |
UK economy’s future unusually uncertain, says Bank of EnglandThe Bank of England says trying to predict economic progress is hampered by a lack of a Brexit deal. | |
BA drops 15 long-haul routes including Seoul and SeychellesThe news comes as many airlines cut staff and drop routes as passengers cut travel amid the pandemic. | |
Sherry makes a comeback as Christmas sales surgeSales of sherry are booming in the run-up to Christmas, fuelled by lockdown and the “tapas effect”. | |
10 non-Covid risks that may dominate emerging markets in 2021Some risks aren’t going away any time soon for emerging markets, irrespective of the overwhelming view among investors and strategists that 2021 will be a year of continued recovery. Though the turbulence triggered by the coronavirus outbreak has given way to optimism that vaccines and central bank largess will keep the revival on track, a few themes are likely to keep dominating developing economies that collectively account for $30 trillion, or about 34%, of global gross domestic product. | |
Craftsman Automation files IPO papers with SebiThe IPO comprises a fresh issue of equity shares aggregating up to Rs 150 crore and an offer for sale of up to 45,21,450 shares by promoter and existing shareholders, draft red herring prospectus filed with Sebi showed. | |
Vaccination rollout and rising fuel demand to help crude touch $52/bblOPEC+ will further ease its supply restrictions in January by adding an extra 500,000 barrels per day, although the easing is more gradual than previously agreed, to provide additional support to the market. | |
Documentary Of The Week: The Failure Of Neo-classical EconomicsWritten by John Lounsbury Steve Keen presented an invited lecture to the Marshall Society at Cambridge University in early November. The 1-hour presentation reviews the failure of neo-classical economics with carefully derived analytical argument. This is unusual compared to some discussions by notable economists in that it is non-ideological, but based on empirical observations of macroeconomic systems. | |
: Europeans urged to wear masks when seeing family over Christmas, as regulator accelerates vaccine timelineWHO’s advice comes as French President Emmanuel Macron has tested positive for coronavirus, the Élysà e Palace said on Thursday. | |
: What a Biden FCC means for social-media and internet regulationThe Federal Communications Commission is one of the most powerful arms of the federal regulatory apparatus, with vast powers to regulate some of the largest corporations in America, and with a gridlocked Congress likely preventing President-elect Joe Biden from advancing his economic agenda through legislation, it could become an epicenter of policymaking during the next four years. | |
Market Extra: The years-long shift from active to passive is still going, and Dan Draper has a front-row seat for it allDan Draper, a long-time fund industry veteran, has just taken over the CEO slot at S&P Dow Jones Indices, in part because he’s a strong believer in the power of the passive management revolution that continues to upend asset management. |
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