11Jan2021 Pre-Market Commentary: Wall Street Futures Have Fallen Sharply Overnight, DOW Down 273 Points, Nasdaq Down 0.5%, WTI Crude Slides 51.68, Bitcoin Takes Big Hit 33,447

Written by Gary

Twitter shares down nearly 4% following Trump ban and record closing highs Friday (SPY -0.8%).

Here is the current market situation from CNN Money

What Is Moving the Markets

Here are the headlines moving the markets.
	How U.S. Shale Upended Global Crude Flows The U.S. removed the ban on American crude oil exports to countries other than Canada in 2015, unleashing a new force on the global oil market to be reckoned with. Soaring shale production over the past half-decade has not only helped America to reduce its reliance on foreign oil imports, but it has also created a new global player on the market, taking market share from the top exporters, Saudi Arabia and Russia. The shale boomespecially in the years 2017-2019 when U.S. exports were no longer restrictedfrustrated
	3 Electric Vehicle Stocks That Could Boom In 2021 Theres no denying that 2020 was an incredible year for electric vehiclesAnd Elon Musk was the man of the hour.Never in the history of wealth accumulation has anyone shot up the ladder so quickly.In fact, Musks net worth skyrocketed by well over $60 billion since Tesla was included in the S&P 500 index in late December. Tesla is now the 6th largest publicly traded company in the United States by market cap, overtaking stock market staples such as Warren Buffetts Berkshire Hathaway, Walmart, and even Johnson &
	Is This The Most Exciting Oil Play Of The Decade? The last great oil discovery onshore could unfold in the next few weeks, and its been hiding right under the noses of the supermajors. Its all because of a treasure trove of government-held data that very few even knew existed. And it could lead to the most exciting oil discovery since the Permian Basin, the massive basin in Texas which is estimated to hold 46.3 billion barrels.. But today, this property overlooked by the majors lies untouched halfway around the world And at a mammoth 8.5 million acres, this basin spans an
	How Will Bidens Presidency Impact South Americas Oil Boom? Much has been made of President-elect Joe Bidens energy policies and the negative impact they will have on the U.S. oil industry, which is laboring to survive a global oil supply glut and sharply weaker energy prices. This is in stark contrast to outgoing President Trumps pro-industry policies, which it is claimed helped the U.S. shale industry survive the worst oil price slump since the early 1990s. Energy sector analysts and insiders expect Bidens commitment to ban new oil and natural gas leases on public lands, aggressively
	Can Tech Save The Oil Industry? As the outlook for oil is uncertain for 2021, following a turbulent 2020, companies look toward new technologies and innovation to drive the industry forward. From Houston to Scotland, we are seeing more and more firms come up with innovative solutions for the digital transformation of oil; with some unexpected companies getting involved in the $3.3 trillion global energy industry. As thousands lost their jobs across the oil industry in 2020, it became clear that energy companies had to embrace change, to modernize oil strategies continuing
	Tesla Is Making A Major Push For Chinese Market Share Tesla is shaking up the competition once again with the release of its new ModelY in China for a lower-than-expected price thats reportedly causing a run of advance orders. On the first day of 2021, the company announced the official launch of the Model Y SUV at its expanded Shanghai factory and began taking orders from customers with the deliveries to start in late February. Prices start at $52,074, not counting a government subsidy for prospective buyers, representing a 30% discount to prices for the car listed six months earlier.
	Covid vaccinations offer CVS, Walgreens and Rite Aid a chance to showcase how drugstores have changed The three drugstore chains have expanded their digital offerings and stepped up their focus on health and wellness to keep up with consumer preferences.
	Asia is dominating the box office, and the U.S. could too, if it handled the pandemic better In Japan, China and Australia, where coronavirus cases have dropped significantly, analysts and operators are seeing box offices recover and thrive.
	FAA chief issues stern warning to travelers after politically motivated flight disruptions The FAA chief warned travelers could face hefty fines or jail time for unruly behavior, a warning that comes after onboard disturbances by Trump supporters.
	Pickup trucks dominate America’s 10 best-selling vehicles of 2020 Pickups accounted for five of the industry’s 10 best-selling vehicles in 2020. They accounted for 13% of the roughly 14.5 million vehicles sold last year.
	Israel’s massive vaccine drive isn’t keeping up with new cases ” especially among younger victims A record amount of young people in Israel are contracting the virus accounting for a record one quarter of the most serious Covid cases
	This chart shows how the restaurant industry’s recovery stumbled in December The restaurant industry spent most of 2020 trying to recover from the coronavirus pandemic, but the final month of the year saw transaction declines worsen.
	State tax departments set their sights on pro athletes’ earnings Professional athletes face complex state tax filings, given their hectic schedules. The pandemic added another angle: isolation bubbles and remote coaching.
	5 things to know before the stock market opens Monday Dow futures fell about 200 points Monday after the 30-stock average, S&P 500 and Nasdaq closed at record highs Friday.
	Ben & Jerry’s debuts frozen dog treats, a passion project inspired by its pet friendly workplace The ice cream maker has developed Doggie Desserts, two flavors of frozen treats that will be sold at grocery and pet stores
	Lululemon forecasts fourth-quarter earnings and sales at the top end of outlook thanks to strong holidays Lululemon has not offered an outlook for the full year due to the ongoing effects of the Covid pandemic.
	‘Next few weeks are going to be the worst’ of the pandemic, England’s medical chief warns England’s Chief Medical Officer Chris Whitty warned that the “next few weeks are going to be the worst weeks” of the coronavirus pandemic for the U.K.’s NHS.
	Japan has found a new Covid variant. Here’s how it compares to virus strains in the UK, South Africa The identification of a new Covid variant comes as countries scramble to contain two other contagious variants that have emerged in the U.K. and South Africa.
	France’s slow vaccine rollout could harm President Macron’s chances of re-election A slow vaccine rollout against the coronavirus could hurt the re-election chances of President Emmanuel Macron.
	Crypto Carnage Erases Over $200 Billion In Market Cap Crypto Carnage Erases Over $200 Billion In Market Cap After topping $1 trillion for the first time last week ($1.1 trillion at its peak), the total market cap of the cryptocurrency space has plunged by over 20% this week (back below $900 billion) after a bloodbath in bitcoin and ethereum evisceration this weekend. Source Bitcoin plunged from $40,000 on Friday to $32,300 today… Source: Bloomberg Ethereum plunged from ove …
	What Is The Yield On The 10Y That Will Burst The Stock Bubble? Here Is The Answer What Is The Yield On The 10Y That Will Burst The Stock Bubble? Here Is The Answer Now that the deflation narrative which marked most of 2020 is dead and buried, and instead traders are focusing not only on breaking out 10Y nominal yields… … as well as the highest 5Y5Y fwd swaps and breakevens in years… … prompting Morgan Stanley to list
	Futures, Bitcoin Slide As Buying Frenzy Fizzles; Dollar Jumps Futures, Bitcoin Slide As Buying Frenzy Fizzles; Dollar Jumps US equity futures and world stocks dropped from Friday’s record highs on Monday as a mood of caution swept across trading desks as faltering economic indicators tripped a solid run on hopes of more fiscal stimulus. Anxiety ahead of Trump’s second impeachment process was also palpable coupled with concerns over rising coronavirus cases, while elevated Treasury yields helped the dollar hit its highest levels in over two and a half weeks, in a reversal of the most consensus trade of 2021 which as we predicted would happen last week. S&P 500 E-minis were down 22.5 points, or 0.60% after rising 1.8% last week; Dow E-minis were down 223 points, or 0.7% and Nasdaq 100 E-minis were down 81.25 points, or 0.7%. Twitter’s shares plunged 6% premarket after it permanently suspended U.S. President Donald Trump’s account late on Friday. Tesla stock was also down despite the latest Wall Street upgrade, this time from BofA which rai …
	Twitter Plunges After Trump Ban; Parler Site Taken Offline Twitter Plunges After Trump Ban; Parler Site Taken Offline As it turns out, Wall Street isn’t happy with Twitter’s decision to permanently ban President Trump, one of the service’s high-profile users. Analysts are afraid the decision could expose Twitter to more regulation, as Mirabaud analyst Neil Campling said the ban could open Twitter up to more regulation under the next administration now that the platform is clearly making editorial decisions about what type of political content is, and isn’t, appropriate. Traders are clearly worried, as Twitter shares are down 7% in premarket trade, building on losses from after-hours trading on Friday, as well as Sunday night. According to Bloomberg, Twitter was Trump’s preferred channel for “amplifying attacks on his rivals, spreading conspiracies and provoking other nations during his four years in power.” In other social media news, Amazon’s decision to bar Parler, the pro-free-speech alternative social media platform, has resulted in the service being de facto barred from the Internet.
	Royal Mail: Can new boss Simon Thompson turn it around? Simon Thompson, who ran the NHS Test and Trace app, takes over after a tough year for the post service.
	Cryptoasset investing? Be prepared to lose the lot, warns watchdog The Financial Conduct Authority issues a striking warning to investors in unregulated cryptoassets.
	Dr Martens kickstarts plan to join stock market The current owner of the footwear brand is considering making shares in the firm available to investors.
	Market Movers: Tata Motors, IT pack surges; 65 stocks give sell signal on MACD On technical charts, analysts suggested that intra-day traders could take fresh long positions in the Nifty50 if the index sees a mild correction towards 14,400 or 14,380 points.
	Long-term FPIs raise bets on Indian equities amid soaring indices Their share in the total FPI AUM increased by 111 basis points year-on-year to 23.2% in December 2020.
	The factors that will decide the course of rupee in a crucial year post pandemic The Rupee is likely to trade in the narrow range of 71-73.5 as traders expect relative stable exchange rate
	: Chipotle’s drive-thru lanes could clear a path for a breakfast menu BTIG moved its price target for chipotle shares to $1,600 from $1450
	Futures Movers: Oil prices fall as U.S. dollar bounces, COVID sparks lockdown fears Oil futures pull back Monday, feeling pressure as the U.S. dollar bounces off a more than 2 1/2-year low and as renewed COVID-19 lockdowns underscore demand worries.
	Bond Report: U.S. Treasury yields hold ground before first debt auction of week U.S. Treasury yields held steady on early Monday’s trade before a key auction for short-term debt that could influence the direction of trading for the rest of the session.