Written by Gary
E-commerce sales jump nearly 50% this Holiday Season (SPY +0.8%). Stocks making the biggest moves midday: Nikola, Weibo, DoorDash.
Here is the current market situation from CNN Money | |
 | North and South American markets are higher today with shares in Brazil leading the region. The Bovespa is up 1.00% while U.S.’s S&P 500 is up 0.87% and Mexico’s IPC is up 0.59%. |
What Is Moving the Markets
| Here are the headlines moving the markets. | |
| Mexico Restricts Fuel Imports Of Private FirmsMexico issued during the weekend new rules that would limit fuel imports of private firms in a controversial move seen as boosting the dominant position of state oil firm Pemex. Mexicos leftist populist President Andrs Manuel Lpez Obrador came to power with the promise to increase state support for Pemex and make the state-run major the pillar of a turnaround for the countrys declining oil production. Lpez Obrador is also trying to make Mexico energy independent, and the latest legislation to |
| Russia: OPEC+ Deal Could Be Tweaked If Oil Demand Recovers FasterThe terms of the OPEC+ production pact could be revised if oil demand recovers next year faster than currently expected, Russian Deputy Prime Minister Alexander Novak, who is still in charge of coordinating Russias oil policy with OPEC, told Rossiya TV news channel in an interview on Monday. The vaccine rollout is helping global oil demand to recover, and consumption could return to pre-crisis levels during 2021, Novak said. According to the man who is the face of Russias oil policy, global oil demand could grow by between |
| Saudi Aramco Discovers 4 New Oil And Gas FieldsSaudi Aramco has discovered four new oil and gas fields, the Kingdoms Energy Minister Abdulaziz bin Salman said, as quoted by the Saudi Press Agency. Two of the fields are unconventional deposits, the report said. One of these, al-Reesh, has three wells pumping oil, at a rate of a combined 10.851 barrels of Arab extra light crude and close to 8 million cu m of natural gas. The other non-conventional deposit, al-Sirrah, produces mostly natural gas, at a rate of 18 million cu m daily, along with 98 barrels of condensate daily. Another well, |
| IHS Markit: Oil Demand Won’t Fully Recover Until 2022Global oil demand will likely take another year or so to return to pre-pandemic levelsby late 2021 or early 2022, energy expert and IHS Markit vice chairman Daniel Yergin told Al Arabiya English in a video interview on Monday. Yergins expectations for oil demand are roughly in line with the forecasts by the International Energy Agency (IEA) and OPEC, which dont expect annual oil demand to return to the pre-COVID levels next year, despite the projected rise compared to this years slump. Continued low demand for jet fuel |
| 3 Reasons Why Oil Could See An End Of Year RallyCrude oil futures have been edging higher over the past few weeks, defying the usual trend of profit-taking ahead of the Christmas holidays. WTI was trading as high as $49.20 on Friday’s session with Brent crude quoted at $52.40, levels they last touched in February before the oil price crash. Naturally, the big question for most traders at this point is whether this rally has the legs to continue into the festive period and even beyond. On a purely technical basis, crude oil has been making higher highs on the weekly charts since April. The latest |
| Why No One Can Solve Texas Flaring CrisisWhen Jim Wright won a seat on Texas energy regulator against climate activist challenger Chrysta Castaneda, the anti-fossil fuel movements collective hearts sank. The planet will be ruined! But the Texas Railroad Commissionthe Commissioners of which are nearly always Republican and fossil-fuel friendlybowed under the climate pressure long before the election and is now cracking down on flaring. And if climate activists (and Big Oil, but more on that later) have their way, Texas oil industry will suffer. But rather |
| The retail industry is leading the way as women take over CEO rolesA record 41 female CEOs are soon going to be leading Fortune 500 companies, with Lauren Hobart set to take over Dick’s Sporting Goods in February. |
| Biden will invoke Defense Production Act to boost Covid vaccine production, advisor saysThe wartime production law allows the president to compel companies to prioritize manufacturing for national security purposes. |
| UK expected to approve Oxford-AstraZeneca Covid vaccine this weekThe coronavirus vaccine being developed by AstraZeneca and the University of Oxford will is expected to be approved for use in the U.K. in coming days. |
| Stocks making the biggest moves midday: Nikola, Weibo, DoorDash & moreThese are the stocks posting the largest moves midday. |
| ‘Wonder Woman 1984’ scores highest box office opening of the pandemic, Warner Bros. fast-tracks third film“Wonder Woman 1984” had the highest opening box office of any film released domestically during the pandemic. Warner Bros. has fast-tracked a third film. |
| This chart shows how restaurant revenue has fallen, even as delivery and takeout sales soarU.S. restaurant revenue is falling as takeout and delivery orders fail to make up for lost dine-in sales. |
| The 10 biggest retail bankruptcies of 2020This year, Neiman Marcus and J.C. Penney joined the ranks of some of the biggest retail bankruptcies on record, including Sears, Toys R Us and Circuit City. |
| NY healthcare provider may have fraudulently obtained vaccine dosesA New York-based healthcare provider is under investigation for potential fraud, accused of illegally obtaining and distributing the vaccine, NBC New York reports. |
| Fauci warns of post-Christmas surge in Covid infectionsFauci warns that coronavirus infections may get another boost as Americans flock together for Christmas and New Year’s celebrations. |
| Op-ed: Equities likely to grow, but finding yield remains difficultBond yields likely will remain paltry in 2021, but higher yields are available from alternative fixed-income investments that individuals typically overlook. |
| Stocks making the biggest moves premarket: Alibaba, AT&T, AstraZeneca, DoorDash, othersThese are the stocks posting the largest moves before the bell. |
| 5 charts show what the global economy looks like heading into 2021The rapid spread of Covid ” which was first detected in China ” forced many countries into months of lockdown that markedly reduced economic activity in 2020. |
| Natgas Plunges 10% On “Extremely Bearish” Warmer January ForecastNatgas Plunges 10% On “Extremely Bearish” Warmer January Forecast Natural gas futures are down more than 10% on Monday morning following new weather models that suggest warmer weather is ahead.
Meteorologists at BAMWX show one model that suggests temperature anomalies for much of the country could be well above average for early January.Â
For the next two weeks, heating degree d … |
| E-commerce Sales Jump Nearly 50% This Holiday SeasonE-commerce Sales Jump Nearly 50% This Holiday Season Submitted by Market Crumbs, With the holiday shopping season now officially in the books, Mastercard on Saturday gave a look into what consumers shopped for this year.
Using aggregate sales activity in the Mastercard payments network and survey-based estimates for other payment forms such as cash and check, MasterCard SpendingPulse found that U.S. retail sales excluding automotive and gasoline jumped 3% during this year’s holiday shopping season, which ran from October 11 through December 24. With many people continuing to stay at home as a result of Covid-19, it’s not surprising that online sales jumped by 49% compared to last year. E-commerce accounted for 19.7% of overall retail sales during this year’s holiday shopping season compared to 13.4% in 2019. Given people … |
| 12,000 NYC Students Banned From School For Not Consenting To Random Covid Testing12,000 NYC Students Banned From School For Not Consenting To Random Covid Testing Today in “how far can your rights be infringed upon before people start to push back” news… About 12,000 New York City students are being prevented from attending in-person learning because their parents “failed to sign consent forms for weekly random testing”, Bloomberg reported last week. The students are part of a larger group of 190,000 pre-school through elementary students who returned to classrooms in December. While about 60,000 pre-school and kindergarten students are exempt from testing, there are still about 130,000 students who are required to participate in random testing.Â
Nathaniel Styer, a spokesman for the city Department of Education, said:Â œDue to the extensive efforts of our staff, 91% of students who need a consent form have one on file. Students without consent forms, and who do not have approved exemptions, … |
| Record Big 2Y Treasury Auction Tails, Met With Subpar DemandRecord Big 2Y Treasury Auction Tails, Met With Subpar Demand It may be the last, holiday-shortened week of the year, but that doesn’t mean the US Treasury can take time off from shoving US debt down the throat of anyone who still believes that the US dollar will remain a reserve currency in the near and not too near future, and at 1130am, the Treasury held the first of the day’s two auctions, when it sold a record $58BN in 2Y notes.
The auction priced at a high yield of 0.137%, 2.8bps below the 0.165% yield last month but a 0.2bps tail to the 0.135% When Issued. The poor metrics continued with the Bid to Cover, which dropped from 2.712 to 2.453, which was below the 2.52 six auction average. The only silver lining was the modest increase in Indirect demand, with foreign central banks getting 49.2% of the allotment, up from 46.1% last month, if still below the 51.1% recent average. Finally, with Directs taking down 17.5%, or the highest since April, Dealers were left holding 33.3% of the auction, bonds which they wil … |
| Mobile roaming: What will happen to charges after Brexit?Will Britons be able to use their mobile phones in Europe after Brexit transition, without paying extra? |
| Brexit: ‘Bumpy’ period expected as UK adjusts to new EU rulesMinisters warn of “practical and procedural changes” when the Brexit transition period ends this week. |
| Game of Thrones games maker dies ‘after poisoning’Lin Qi, 39, was the founder of Chinese firm Yoozoo which developed the popular online game. |
| Want to diversify your portfolio to other EMs? Here’s where you can investœA weak dollar coupled with low interest rates globally will drive a lot of money to emerging markets, said Radhika Gupta, CEO, Edelweiss Mutual Fund. |
| Why this FMCG major looks ripe for a reratingIn FY20, its revenue growth was muted followed by a mere 1% growth in the first half of FY21. However, the trend may reverse since analysts expect a faster growth in future given the recent product launches. |
| This auto ancillary stock set to gain from new fuel efficiency normsThe Indian subsidiary of the German parent has launched new products across categories such as clutches, damping system and engine parts which offer higher value propositions to customers. |
| Realtor.com: Take a look inside Candice Bergen’s $18 million East Hampton country houseActress Candice Bergen and her husband, real estate magnate Marshall Rose, have placed their longtime Hamptons home on the market for $18 million, according to Variety. |
| Market Snapshot: Dow rallies to record as Trump signs relief packageMajor U.S. equity indexes all hit intraday records at the start of Monday to begin the final, holiday-shortened week of 2020 after President Donald Trump ended a standoff with Congress over legislation that would send aid to consumers and businesses. |
| The Tell: As stocks hit new highs, ‘one of the most important tailwinds for equities’ is in placeStocks are on track to end a tumultuous 2020 with a push to all-time highs, stoking fears the market has rallied too far and too fast for its own good. But the rally is accompanied by a rare round of upward revisions to earnings expectations, which have historically tended to offer a strong tailwind, according to analysts at Jefferies. |
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