Written by Gary
Historic increase in US GDP revised to 33.4% annualized rate (SPY +0.2%). The US economy grew at a record pace, fueled by $3 trillion in stimulus.
Here is the current market situation from CNN Money | |
European markets are mixed today. The DAX is up 1.09% while the FTSE 100 gains 0.43%. The CAC 40 is off 2.43%. |
What Is Moving the Markets
Here are the headlines moving the markets. | |
How Electric Vehicle Hype Created A Brand New Trillion Dollar MarketBy now, you probably already know that electric vehicles were one of the hottest markets, if not the single hottest market in 2020. You might also already know that Tesla soared 592%, and that its Chinese counterparts NIO, Xpeng, and Li Automobile soared 1411%, 105%, and 106% respectivelyBut what you may not yet know is that theres another opportunity emerging in EV markets. Some of the biggest opportunities in the exploding EV space arent to be found only in stocks of EV makers, instead, they could be made in companies that are setting | |
Could This Be The Top Oil Play For 2021?In an age where theres not much oil left to discover on land and the supermajors have gone out to sea where development takes decades and costs are often prohibitive, theres nothing more exciting than getting a sneak peek at what could to be one of the last giant onshore oil plays. Africa is the industrys final frontier, and the final, final frontier is a geological system running from Namibia to Botswana. And while there are a lot of supermajors circulating around this underexplored part of Africa, the last major | |
Americas Key Oil Hub Sees Inventories DecliningCushing, the home of the black gold rush and the worlds largest onshore oil storage hub is once again reducing its oil stockpiles as an increase in demand looks set to continue into 2021. In November, reports suggested that oil was once again being stockpiled in Cushing, Oklahoma. Commercial stocks increased to 61.1 million barrels in mid-November, once again reaching April levels; when oil was experiencing its lowest demand. This figure stood at over 1 million more than the previous week and 39.3 percent higher than | |
Iran Wooing Russian Oil CompaniesIran has stated its interest in attracting investments from Russian oil companies to help develop its oilfields, Russias TASS news agency said on Monday, quoting Iranian Oil Minister Bijan Zanganeh. Iran is hoping to not only attract investments into its oil industry, but looking to increase its energy cooperation with Russia to offset the harsh U.S. sanctions that have reduced its oil exports over the last year. Deputy Prime Minister Alexander Novak met with the Iranian Oil Minister this week. A broad range of trade and economic | |
China And Iran Start Drilling In This Super Giant Gas FieldDrilling operations of the first well of the game-changing but highly-controversial Phase 11 of Irans supergiant South Pars non-associated natural gas field officially began last week. Significant gas recovery from the enormous resource will commence in the second half of the next Iranian calendar year that begins on 21 March 2021. The long-stalled Phase 11 development supposedly saw the withdrawal of all Chinese involvement in October 2019. In reality, though, China is still intimately involved in its development and is looking to further | |
Russia Cries War As U.S. Tries To Kill Nord Stream 2The widening U.S. sanctions on the Russia-led natural gas pipeline project Nord Stream 2 are a kind of hybrid warfare used by the United States, Vladimir Putins Press Secretary Dmitry Peskov said on Monday. This is indeed a variant of hybrid warfare, it is used as a hybrid war by the United States, Peskov said, as carried by Russian news agency TASS, asked about if the Kremlin agreed with a previous statement by Russian businessman Oleg Deripaska that the sanctions were hybrid warfare. Let’s take the sanctions against | |
Rethinking stimulus: How Covid economic recovery can help battle climate changeGlobal carbon dioxide emissions will rebound next year and continue to surge unless the worldwide recovery effort from Covid-19 prioritizes climate change. | |
‘I think this is already in the U.S.,’ Dr. Scott Gottlieb says of new U.K. Covid strainWhile many countries are imposing lockdowns, Dr. Gottlieb explains why he thinks the new, highly contagious variant of Covid is already in the United States. | |
Op-ed: Here’s how to create a charitable trust as part of an estate planWhen planning your estate, creating a charitable trust can provide a way to meet your wishes for loved ones and charities. | |
5 things to know before the stock market opens TuesdayU.S. stock futures were mostly higher Tuesday, the morning after Capitol Hill passed a mammoth coronavirus relief and government spending package. | |
Easy and elegant cocktail recipes for celebrating the holidays at homeFrom sweet treats to serious spiced drinks, here are CNBC Global Traveler’s picks for simple yet chic cocktails to make at home for Christmas to the New Year. | |
U.S. plans to study allergic reactions from Pfizer’s Covid vaccineThe U.S. is planning a study to find out why some people have suffered from allergic reactions after receiving a Covid vaccine, an NIAID official told CNBC. | |
Peloton shares soar after company announces $420 million deal for fitness equipment maker PrecorPeloton plans to acquire the exercise equipment manufacturer Precor for $420 million, in a bid to speed up its production and meet promised delivery windows. | |
Former Macy’s CEO expects retail closures to continue into 2021 as Covid persists“Retailers who have a weak balance sheet today aren’t going to get relief in January. It’s going to get tougher,” ex-Macy’s CEO Terry Lundgren told CNBC. | |
Chevy Chase recreates ‘Christmas Vacation’ scene in new Ford Mustang Mach-E adChase thanked Ford for the role as well as the undisclosed amount of money he was paid for the ad. | |
Shoppers head to malls in final runup to Christmas. But Covid hot spots threaten last-minute boostTraffic to stores on the final Saturday before Christmas dropped 40.9% from 2019. That wasn’t as steep of a decline as Black Friday, when traffic fell 48%. | |
WHO says Covid is mutating at slower rate than flu as new strain in U.K. appears more contagious“SARS-CoV-2 is mutating at a much slower rate than influenza,” WHO chief scientist Soumya Swaminathan said. | |
White House task force kept airport Covid screeners in place despite known risk of infection, sources sayIn interviews with dozens of officials, CNBC has learned that the program proved not only ineffective but dangerous from its earliest days. | |
Two travel-related stocks look like buys as airlines, hotels and cruises sell off, trader says“We like the hybrid approach,” said trader Quint Tatro, naming Uber and Lyft as two of his favorite plays. | |
Hedge Funds May View Tesla’s S&P Sell-Off As A “Negative Catalyst”Hedge Funds May View Tesla’s S&P Sell-Off As A “Negative Catalyst” Tesla faced what appeared to be its first reality check in years in trading on Monday. After being included into the S&P 500 index, Tesla shares finished the day down 6.49%, falling $45 per share amid a coming implied volatility collapse and a liquidity triggered “normalization” that very well could prevent Tesla from being pushed higher by call option buys, they way it has been over the last year or so.
Roth Capital Partners analyst Craig Irwin told Bloomberg on Monday that the sell off could be considered a negative catalyst: œHedge funds will treat this as a negative catalyst for Tesla given buying pressure eases off very quickly. Bernstein analyst Toni Sacconaghi had also noted in early December: œThere is strong precedence for positive returns for stocks prior to S&P 500 inclusion and post announcement, but very limited precedent for near term outperformance post inclusion. In other words, the gravy train could be coming to an end. This comes after a flurry of institutional investing on Friday that culminated in almost $60 billion in stock changing hands at a price o … | |
“You’re No Better Than Socialist Dems” – Rand Paul Slams COVID-Bill-Backing Republicans“You’re No Better Than Socialist Dems” – Rand Paul Slams COVID-Bill-Backing Republicans Authored by Steve Watson via Summit News, Senator Rand Paul slammed Republicans Monday for voting in favour of a huge $900 billion coronavirus relief bill, saying that they are no better than the Democrats they routinely label as ‘socialists’. œTo so-called conservatives who are quick to identify the socialism of Democrats: If you vote for this spending monstrosity, you are no better, Paul urged in a speech on the Senate floor: The Democrat controlled House, as well as the Senate passed the legislation, also tacking on a $1. … | |
Furtures Rebound As Stimulus Optimism Trumps Mutant Virus GloomFurtures Rebound As Stimulus Optimism Trumps Mutant Virus Gloom S&P futures erases their drop to trade 0.3% higher as of 730 a.m. ET, tracking gains for shares across European markets, which reversed an earlier Asian loss. Emini futures fell as much as 0.6% earlier despite the successful passage of the covid relief bill late on Monday in both the House and the Senate. The S&P dropped 0.4% on Monday as optimism over the $900BN Covid-19 relief bill was offset by the emergence of a mutant variant of the virus and a frenzy of lockdowns and travel curbs to contain it. Nasdaq 100 futures outperformed the S&P 500 after U.S. lawmakers cleared a $2.3 trillion year-end spending bill and stimulus package yesterday, which now passes to President Donald Trump to sign. Treasuries and the dollar pared an earlier advance. The stimulus package, the first congressionally approved aid since April, comes as the pandemic accelerated in the United States, slowing the economic recovery. Tuesday’s rebound follows a scare on Monday as countries across the world shut their borders to the UK … | |
US May Require British Passengers To Prove They Don’t Have COVID Before Boarding FlightsUS May Require British Passengers To Prove They Don’t Have COVID Before Boarding Flights Update (0725ET): One of the biggest thorns in BoJo’s side over the past couple of days has been the decision by the French government to close its borders to British travelers, as well as truckers hauling goods. Now, a French radio station is reporting that both travelers and truckers carrying goods will be allowed to enter, with a test. Will the rest of Europe follow suit? * * * By nighttime on the East Coast of the US, more than 30 countries and territories had barred Britons from traveling – by air, land or sea – through their borders. The NYT yesterday described the British Isles as being “virtually cut off” from surrounding Europe – and that phrasing isn’t an exaggeration or an accident. Whether or not this mutation is even real – as Moncef Slaoui pointed out yesterday, there’s no “hard evidence” tying this whole theory together – is of secondary impor … | |
UK borrowing hits highest November level on recordThe government borrowed £31.6bn last month as it continued to support the economy during the pandemic. | |
Covid-19: 1,500 lorries stuck in Kent as UK and France aim to restart freightPoliticians are in talks to resume freight, after France closed the border because of the new variant. | |
Truckers’ tales: Life on the road amid ports chaosThe French ban on hauliers travelling from the UK has added to disruption in ports such as Dover. | |
Infosys crowned India’s fastest wealth creator over 25 yrs by MotilalœInfosys is the ultimate growth stock from India, which has changed the shape of the IT industry. It had bellwether status, which it lost a few years ago, but I think they are getting back there, said Raamdeo Agrawal, chairman of Motilal Oswal Financial Services. | |
Market Movers: HCL Tech, Tech Mahindra, Infosys rally up to 5%; 17 stocks flash ‘buy’ signalAs many as 25 components in the Sensex pack ended the day in green with HCL Technologies gaining the most. | |
Embassy REIT raises $501 million through institutional placementThe funds will be utilised to support the proposed $1.3-billion acquisition of Embassy TechVillage, an integrated office park in Bengaluru. | |
Economic Report: Historic increase in U.S. GDP in third quarter revised to 33.4% annualized rateThe record increase in the U.S. economy over the summer in the aftermath of the pandemic lockdown was revised slightly higher to a 33.4% annual pace. | |
The Moneyist: My boyfriend’s ex-wife claimed her 2 sons as dependents on her taxes, and received their stimulus checks, but they live with us. What can we do?‘The mother of these 2 boys lost custody through the Department of Homeland Security, and has offered no support.’ | |
: Europe is pushing ahead with COVID-19 vaccine rollout as a new and more infectious coronavirus strain closes bordersThe European Union has approved a Covid-19 vaccine, moving to roll out jabs within days as Europe battles a new, more infectious strain of the virus on the continent. |
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