Written by Gary
US confirms first case of the new Covid strain discovered in UK (SPY +0.3%). Trump blames states as he faces criticism for slow Covid vaccine rollout.
Here is the current market situation from CNN Money | |
North and South American markets are mixed today. The S&P 500 is up 0.32% while the IPC gains 0.18%. The Bovespa is off 0.10%. |
What Is Moving the Markets
Here are the headlines moving the markets. | |
PetroChina Looks To Double Shale Gas Output By 2025State energy giant PetroChina plans to increase the natural gas output from its shale operations in the Sichuan province twofold to over 22 billion cubic meters in the next five years, Reuters reported, citing state Chinese media. China has been looking to boost domestic natural gas production in the face of rising demand and with it, rising dependence on imports. Most recently, Beijing eased restrictions on foreign companies to invest in the countrys gas industry and offered subsidies for natural gas developments. The incentives include | |
Oil Jumps On Significant Crude Inventory DrawCrude oil prices rose further today after the Energy Information Administration reported an oil inventory draw of 6.1 million barrels for the week to December 25. A day earlier, the American Petroleum Institute also helped boost prices by estimating a crude oil inventory decline of 4.785 million barrels for the same week. Last week, the EIA had estimated a modest inventory decline, to the tune of 600,000 barrels, which nevertheless helped prices continue higher as it coincided with positive vaccine updates that traders linked to an anticipated | |
UAE-Based Firms Help Venezuelas Oil Exports To Skirt U.S. SanctionsLittle-known shipping companies registered in the United Arab Emirates (UAE) have been shipping Venezuelan crude oil in breach of the U.S. sanctions on Nicolas Maduros regime, Reuters says in a special report on Tuesday. The companies Muhit Maritime, Issa Shipping FZE, and Asia Charm Ltd, all registered in two free zones in the UAE, have transported nearly 4 percent of Venezuelas total crude oil and fuel exports so far this year, according to Reuters estimates based on internal shipping documents of Venezuelan state oil firm | |
The Energy Sector To Watch In 2021The year 2020 has been unusually volatile for the U.S. financial market, but more so for the energy sector thanks to nationwide lockdowns and subsequent fuel demand destruction. It’s become a recurring theme, but the oil and gas sector has again emerged as the worst performer among America’s 11 sectors for the 11th straight year. Indeed, Refinitiv data shows that the S&P 500 earnings growth rate would have only declined 2.3% when you exclude the energy sector instead of the 6.5% when you include it. That’s quite damning for the index’s | |
Iraqi Kurdistan Finally Moves To Develop Massive Gas ResourcesIn tandem with Iraqs reiterated target for crude oil production of 7 million barrels per day (bpd) by 2025, from the previous 5 mbpd, Baghdad has also stated that it will stop flaring gas by the same point (and to halt importing fuel from Iran by 2025 as well). These moves would be in line with Iraqs endorsement in May 2017 of the United Nations and World Bank Zero Routine Flaring initiative aimed at ending this type of routine flaring by 2030 and with the commitments made by Prime Minister, Mustafa al-Kadhimi, during | |
The Real Reason Big Tech Dominated The Market In 2020Nearly every aspect of our lives has been transformed in 2020. But there are few places where the change has been as dramatic or all-encompassing as in the stock market. As any trader will tell you, fundamentals in 2020 appear to have become almost entirely irrelevant, ESG investing is now the single biggest trend impacting stocks, and traditional industry giants are under attack. But while all of that was going on, another remarkable trend has taken over stock markets the billion-dollar stock boom. From Airbnb (NASDAQ:ABNB) to DoorDash | |
U.S. confirms first case of the new Covid strain discovered in UKThe infected individual, a man in his 20s, does not have a history of traveling and is in isolation in Elbert County, officials said. | |
Biden slams Trump’s vaccine effort, reiterates plan to administer 100 million doses in 100 daysDr. Anthony Fauci, director of the National Institute of Allergy and Infectious Diseases, said the vaccine rollout has been slower than anticipated. | |
California extends stay-at-home order for two regions of the state as ICU capacity remains tightThe regional order, which Gov. Gavin Newsom first announced on Dec. 3 and was set to expire Monday. | |
This chart shows 2020 had a chance to break box office records, but Covid caused lowest haul in decadesThe domestic box office fell 80% to $2.28 billion in 2020 because of Covid, the lowest tally in nearly 40 years. | |
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 in U.S. after nearly two-year banAmerican Airlines is the first U.S. carrier to return the Boeing 737 Max to commercial service. | |
Watch live: Trump officials discuss vaccine rollout as criticism mountsThe briefing comes as the administration faces criticism for what appears to be a slower-than-expected rollout of the vaccines. | |
The unicorn billions created by Silicon Valley during the pandemic year of 2020Over 100 start-ups hit a $1 billion valuation this year and venture capital continues to flow at near-record levels, despite the Covid-19 pandemic. | |
UK to impose tougher restrictions on millions of people as Covid cases soarThe U.K. government has added millions of people to its strictest Tier 4 category as coronavirus cases continue to rise. | |
Russell Okung’s bitcoin salary could trigger more pro athletes to investThe Carolina Panthers offensive linemen agreed to have roughly $6 million of his salary diverted to mobile payment company Strike to purchase bitcoin investments. | |
Trump blames states as he faces criticism for slow Covid vaccine rolloutBiden Covid advisor Dr. Luciana Borio said the incoming administration will have to “dramatically ramp up” support to states to distribute the vaccine. | |
5 things to know before the stock market opens WednesdayU.S. stock futures rose Wednesday as the market attempted to recover from a slight dip in the previous session and add to its strong 2020 performance. | |
Hawley Becomes First Senator Committed To Challenging Electoral College ResultsHawley Becomes First Senator Committed To Challenging Electoral College Results Authored by Jack Phillips via The Epoch Times, Sen. Josh Hawley (R-Mo.) said he will object during the counting of the Electoral College vote process on Jan. 6, becoming the first senator to confirm they are joining an effort launched by more than a dozen House Republicans.
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Tesla Model S Starts “Shooting Flames” After Driver Hears Mysterious “Loud Bang” While DrivingTesla Model S Starts “Shooting Flames” After Driver Hears Mysterious “Loud Bang” While Driving While Tesla is now facing scrutiny from both the U.S. and China over Model S suspension problems and the Model Y has been panned by Consumer Reports, the legacy issues with many Teslas – you know, either driving themselves into inanimate objects or randomly bursting into flames – have also apparently continued. For example, just off of a Dallas thoroughfare last month, a Tesla Model S “erupted like a flamethrower” and started “shooting flames”, according to a new article by the Washington Post. The flames happened after the driver heard “metallic bangs”, which he described as the sound of œif you were to drop an axle of a normal car on the ground. He pulled the car off the road and, while standing by, watched it ignite in flames near the front passenger side wheel. œThis was shooting out like a flamethrower, said the driver, Usmann Ahmad. Experts say that a growing number of combustion incidents with older Tesla Model S a … | |
This Fed Policy Is “Scandalous”This Fed Policy Is “Scandalous” Via SchiffGold.com, Peter Schiff has been saying that all of the œhelp the US government and the Federal Reserve have offered up during the coronavirus pandemic isn’t helping. In fact, it’s made the situation worse. In a podcast last month, Peter said that all of the money printing and stimulus allowed people to keep spending, but they aren’t producing anything.
Over the last year, the US government has added trillions to the national debt and the Fed has monetized much of that, growing the money supply at a record pace. All of this money printing is supposed to keep the economy afloat during the crisis, but as economist Robert Murphy shows, it’s not even doing that. We may have had a rebound in GDP and unemployment has dropped since the early months of the pandemic, but as Murphy points out, the US labor market is still œin terrible shape, and all of the money printing in the world can’t fix that … | |
Tokyo Health-Care System Risks COVID-Induced Collapse; Germany Sees Record Deaths: Live UpdatesTokyo Health-Care System Risks COVID-Induced Collapse; Germany Sees Record Deaths: Live Updates Summary: COVID data delays still plaguing some US states Texas reports new daily record cases Hospitalizations still at record highs 20+ cases of UK COVID mutant discovered in India Tokyo Gov warns about possible health-care system collapse Germany reports record daily deaths China says Sinopharm vaccine 80% effective Portugal reports most new cases in 3 weeks * * * Yesterday, the state of California extended its lockdown measures for LA County and the San Joaquin Valley as Joe Biden echoed concerns first voiced by Dr. Fauci about the vaccine rollout falling well behind its year-end target (while also warning that the outbreak is expected to worsen in the coming months). Today, Biden followed up by insisting that he will move ahead with ordering Americans to continue to wear masks in public for the first 100 days of his administration.
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Four-day week means ‘I don’t waste holidays on chores’A new study suggests a four-day working week could be introduced immediately and be affordable for most firms. | |
UK house prices see highest growth in six years in 2020UK house prices bucked the pandemic and climbed 7.5% in 2020, according to building society Nationwide. | |
Snapchat boss: US faces ‘century of competition’The billionaire founder of messaging app Snapchat also said he was “happy” to pay more taxes. | |
Investors are flocking to PSU stocks again, but can they retain the momentum?Over the past decade, the BSE PSU index contracted by 38% whereas the benchmark Nifty 50 rose by 128%. | |
10 stocks that made most money for investors in the last 10 yearsAs one of the most volatile decades for investors comes to an end, ETIG finds out the stocks in the BSE 500 index that made investors rich despite the topsy-turvy market movements. | |
Vedanta says no pledge on shares; fund raise conditions bar promoters from share saleVedanta had on Tuesday informed stock exchanges about its promoters raising USD 1 billion debt by issuing equivalent notes to Citicorp International Ltd and another USD 400 million in notes to an entity under Oaktree Capital Group. | |
Coronavirus Update: U.S. sets record for COVID-19 hospitalizations, as country’s first case of new U.K. variant is found in ColoradoThe U.S. set a fresh record for hospitalizations of patients with COVID-19 on Wednesday and the first case of the highly infectious U.K variant of the coronavirus was found in Colorado, as health experts continued to lament the delayed rollout of vaccines that is hampering the economic recovery. | |
The Wall Street Journal: China’s COVID-19 vaccine is 79% effective, initial phase 3 tests showSinopharm is testing its vaccines in at least 10 countries, including China | |
: 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.’ |
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