Written by Gary
Salesforce.com Inc., Home Depot share losses lead Dow’s drop (SPY -0.2%). Biggest movers midday: Snap, Boeing, Alibaba, Lemonade.
Here is the current market situation from CNN Money | |
 | North and South American markets are mixed. The IPC is higher by 1.90%, while the Bovespa is leading the S&P 500 lower. They are down 0.24% and 0.18% respectively. |
What Is Moving the Markets
| Here are the headlines moving the markets. | |
| Iran Cuts Power Supply To Iraq On Unpaid DebtIran has reduced exports of natural gas to its neighbor Iraq claiming the latter owed it more than $6 billion for supplies already made. The cuts were made two weeks ago, and further cuts will be made, Iranian officials said. “The Iraqi electricity ministry owes more than $5bn to NIGC for gas imports from Iran,” the National Iranian Gas Company said, as quoted by Argus, adding, “Of this, $3bn is blocked and inaccessible in the [state-owned] Trade Bank of Iraq, and more than $2bn has not even been released yet by the electricity ministry.” The rest |
| How Diamonds Can Help Power Electric VehiclesScientists at the Lawrence Livermore National Laboratory in the US publisheda studyinApplied Physics Letterswhere they present the idea of using diamonds as ultra-wide bandgap semiconductors to more effectively power the electrical grid, locomotives and even electric cars. In their paper, the researchers said that diamonds have been shown to have superior carrier mobility, breakdown electric field and thermal conductivity, the most important properties to power electronic devices. The gems also became especially desirable |
| BMW To Challenge Tesla With Ambitious EV PlanAs if Tesla’sinclusionin to the S&P 500 and ARK Invest’sbatshit insaneimpressivefund inflowsover the last couple weeks haven’t been enough to make you consider a top in Tesla, the rest of the automotive world continues to close in on the automaker. We have now officially seen electric vehicles from manufacturers like Hyundai, Volkswagen and Ford offering up “real world” competition to Tesla, who continues to struggle withquality control defectswhile focusing on getting their car horns tomake |
| New Regulations Could Kill Nigerias Promising Deepwater Oil IndustryNigeria may lose up to 38 percent of its deepwater oil production under the terms of the proposed new Petroleum Industry Bill, Nigerian daily Punch reports, adding that this could happen by 2025. Further, the industry could lose almost a third of its deepwater production potential by 2030 because of the bill. The long-awaited piece of legislation, which has been in the works since 2008, should replace a collection of more than a dozen separate laws and regulations. The countrys parliament plans to pass the new law in the first quarter of |
| 3 Ways to Play the $30 Trillion ESG Boom in 2021Theres an old dictum in investment circles that says that the trend is your friend. For decades, megatrends have always set the stage for winning investments, whether they involved technological revolutions, population demographics, or government-driven regulations. And right now, the $30 Trillion ESG Megatrend ticks all the right boxes… Especially with Joe Biden about to give a big boost to the sector. Over the past half-decade, ESG (Environmental, Social, and Governance) investing has emerged as the single |
| Russia To Aid Iran In Major Sanctions-Skirting Energy MegaprojectsAlongside the continued development of its huge West Karoun oil fields, the completion of the supergiant South Pars non-associated gas offshore sector (including the implementation of Phase 11 operations), and the finalisation of the crude oil transfer pipeline from Guriyeh to Jask, Irans core focus in the current sanctions environment is to optimise the output and revenues from its already world-scale petrochemicals sector. This has always played a key role in Irans resistance economy model – the concept of generating |
| The pandemic’s new chefs and foodies: How the health crisis shaped what we cook and craveAmericans have made more meals at home, expanded their palates with new flavors and gravitated toward premium items during the coronavirus pandemic. |
| Boeing 737 Max passenger flights resume after nearly two-year banAmerican Airlines is the first U.S. carrier to return the Boeing 737 Max to commercial service. |
| Pierre Cardin, ground-breaking fashion designer and master marketer, dies at 98Cardin brought geometric shapes to haute couture and put his name on everything from clothing to perfume to pens during his more seven decades in fashion. |
| U.S. could be missing the new Covid variant ‘because the holes in our net are too wide,’ expert saysA smaller sample of virus sequences means the new mutation could already be present in the country without having been detected, the CDC says. |
| Stocks making the biggest moves midday: Snap, Boeing, Alibaba, Lemonade & moreCheck out the companies making headlines in midday trading. |
| Op-ed: How Joe Biden can tap the private sector to accelerate transition to clean energyNow is the time for President-elect Joe Biden to engage with the private sector to accelerate this historic transition to a low-carbon world. |
| Movie releases next year could make for an ’embarrassment of riches,’ Imax CEO says“In a way, 2021, if things do open early in the year, it’s an embarrassment of riches There’s an awful lot of content, and that’s true on a global basis,” Imax CEO Richard Gelfond said. |
| Surge in online shopping is straining America’s busiest port, official saysShipments processed at the Port of Los Angeles were up 22% in November as American consumers bought more goods online, Executive Director Gene Seroka said. |
| How Covid derailed Olive Garden’s successWith Covid-wary consumers pivoting to takeout and delivery, casual-dining restaurants like Olive Garden have struggled with falling sales. |
| New York attorney general investigating whether clinic fraudulently obtained Covid vaccine doses, Cuomo says“We want to send a clear signal … that if you violate the law on these vaccinations, we will find out and you will be prosecuted,” Gov. Andrew Cuomo said. |
| 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. |
| Is The ARKK Starting To Sink: Innovation ETF Inflows Break December UptrendIs The ARKK Starting To Sink: Innovation ETF Inflows Break December Uptrend We have been following the “unicorn” that has been ARK Funds over the last couple weeks, noting the firm’s massive inflows and questioning whether or not its astronomical run would continue, given numerous “law of large number” problems that Bloomberg’s Eric Balchunas pointed out the fund could face (not to mention Tesla’s S&P inclusion potentially taking a gamma squeeze thesis off the table). Noting the most recent data on ARKK fund flows heading into the last few trading days of 2020, it appears a trend of cash pouring into the fund may have reversed in a meaningful way. ARKK inflows appear to have made a lower low:
This suggests the obvious: that we may have witnessed a blowoff top of cash pouring into the ETF this month. In addition to inflows potentially drying up, the beta trade isn’t helping ARKK out during Tuesday’s session either. It appears that ARKK may have peaked alongside of the NASDAQ … |
| Donald Trump Ends Obama’s 12-Year Run As Gallup’s “Most Admired Man”Donald Trump Ends Obama’s 12-Year Run As Gallup’s “Most Admired Man” Authored by Jeffrey Jones via Gallup.com, STORY HIGHLIGHTS 18% name Trump as most admired man; Barack Obama places second at 15% Few Republicans name anyone other than Trump; Democrats split their votes Michelle Obama named most admired woman for third year in a row Americans are most likely to name President Donald Trump and Michelle Obama as most admired man and woman in 2020.
Trump tied former President Barack Obama for the honor last year but edged out his predecessor this year. Trump’s first-place finish ends a 12-year run as most admired man for Obama, tied with Dwight Eisenhower for the most ever. Meanwhile, Michelle Obama ranks as most admired woman for the third year in a row. Vic … |
| “We’ve Got The Votes”: Hawley Pushes Senate To Pass $2,000 Checks“We’ve Got The Votes”: Hawley Pushes Senate To Pass $2,000 Checks Update (1150ET): Sen. Josh Hawley (R-MO) is pushing for the Senate to vote on, and pass, the House’s bill to increase stimulus checks from $600 to $2,000. “We’ve got the votes. Let’s vote today,” he said in a Tuesday tweet.
*Â *Â * Senate Republicans are facing an optics nightmare after 44 House Republicans joined 231 Democrats on Monday to pass a bill which would increase stimulus checks from $600 to $2,000. The move, staunchly opposed by Senate GOP leaders, followed President Trump’s surprise demand last week that lawmakers include the increase in a $900 billion package which he ultimately signed – instead calling on a separate bill to boost the payments. |
| Parts Of Beijing Locked Down For 1st Time Since July As US COVID Vaccinations Lag: Live UpdatesParts Of Beijing Locked Down For 1st Time Since July As US COVID Vaccinations Lag: Live Updates Summary: Dr. Fauci complains about lagging vaccinations in US Parts of Beijing locked down for first time since July Data delays continue in US Global cases near 81.5MM Arizona sees record daily deaths Ireland weighs even tighter restrictions Netherlands outbreak slows “Limited” vaccine doses allocated to House members * * * As the haggling over the $2K stimulus check continues to occupy headlines in the US, Dr. Fauci on Tuesday reiterated his warnings about January being even worse than December in terms of the severity of the COVID outbreak, taxing hospital staff already stretched to the breaking point in places like LA.
Dr. Fauci also pointed out in an interview that Operation Warp Speed is on track to miss its year-end vaccination target by a massive margin (with roughly 2.13MM doses administered in the US, we’re on track to see just 10% of the 20MM goal). He told CNN that he had hoped more Americans … |
| UK shares jump as markets react to Brexit dealThe FTSE 100 gains, but bank shares fall, as stock markets get their first chance to react to the trade deal. |
| Ryanair and Wizz Air deny votes to UK investors after EU exitThe airlines say they need to protect their status as majority EU-owned companies after Brexit. |
| Billionaire UK beauty boss continues expansion with US dealThe Hut Group’s rapid growth has earned Matthew Moulding one of the biggest paydays in UK corporate history. |
| Millennial Money: 3 vague financial resolutions to avoidIf all goes well, by this time next year, you’ll be posting on social media about how you crushed your 2021 #goals. |
| Cheaper valuation makes this tyre stock more attractiveThe company has put capital expenditure on hold as it plans to use the operating cash flow to reduce debt from the Rs 4,368 crore as of September 2020. It expects to reduce debt by 40-45% or by Rs 1,400-1,500 crore over the next two-three years. |
| AMP Capital, Sterlite join hands to launch India transmission platformBoth invest $150 mn for four transmission projects |
| : London in rare bout of euphoria before coming Brexit-induced declineThe deal struck between the U.K. and the European Union didn’t include financial services, and that means a major shift in trading will take place on Jan. 4. |
| : The COVID second wave is now deadlier in France than the first, and it’s spreading fast across EuropeMedical experts advising the U.K. government are asking for stricter rules to prevent ‘a catastrophe.’ |
| : Germany accused of grabbing too much vaccine ” citizens also injected with five times the recommended dosageAround 1,000 doses of the Pfizer “BioNTech vaccine, which needs to be stored at about -70C, were returned after being transported in a picnic hamper cool box, as the EU’s mass vaccination campaign comes under fire. |
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