Written by Gary
Futures edge higher as focus turns to earnings season (SPY +0.2%). Stocks making the biggest moves in the premarket: Albertson’s, Zoom Video, Lemonade.
Here is the current market situation from CNN Money | |
 | European markets are lower today with shares in France off the most. The CAC 40 is down 0.78% while London’s FTSE 100 is off 0.67% and Germany’s DAX is lower by 0.14%. |
What Is Moving the Markets
| Here are the headlines moving the markets. | |
 | Has Iran Massively Underestimated Joe Biden?Iran has been waiting since former U.S. President, Donald Trump, unilaterally pulled his country out of the Joint Comprehensive Plan of Action (JCPOA) in May 2018 and then re-imposed sanctions on Iran, for him to leave office and then to try its hand against a perceived weaker Democrat opponent. In fact, according to John Bolton, the former U.S. National Security Advisor under Trump, it was former Secretary of State, John Kerry, who – in 2018, after the U.S. announced is withdrawal from the JCPOA – advised Iran to stay in the nuclear deal and just |
| The Worlds Next Giant Oil Discovery Could Be HereTheres a breaking energy story that could potentially be a repeat of Texas multi-billion dollar Midland Basin A basin that has been producing since the 1930s and wont reach peak production until 2035 at a phenomenal 3.8 million boe/d The most trusted name in natural resource assessmentsWood Mackenzie–says this new discovery is analogous not just to the giant Midland, with a development value of $540 billion, but to two other world-class basins. In fact, it could become the biggest stock story of 2021 |
| Tesla’s $25,000 Car May Hit The Market Sooner Than PlannedTesla may be closer to producing the US$25,000 electric vehicle sooner than the market thought, according to media reports. At Tesla’s Battery Day in September 2020, Elon Musk said that the EV maker would produce a US$25,000 vehicle, probably in three years. “Tesla will make a compelling $25,000 electric vehicle that is also fully autonomous,” Musk said back in September. According to documents in Chinese about the Gigafactory Shanghai shared on Twitter by Tesla fans, the Tesla “Model 25k” could be coming out of China as soon as 2022. The previous |
| Why The Last Leg Of The Oil Demand Recovery Is The HardestOver the past six months, excess U.S. crude oil and product inventories have declined from their surplus at the start of the summer of 2020. Petroleum inventories have been slowly falling and are now at just single-digit-percent surpluses over five-year averages, compared to 20-30 percent excess over five-year seasonal averages last summer. Demand for gasoline and other petroleum products in the United States has recovered from multi-year lows in April and May, but the last leg of the recovery to pre-pandemic levels proves to be the |
| HSBC Shareholders Urge Bank To Cut Fossil Fuel FundingSome of the largest institutional shareholders of HSBC have filed a climate resolution, urging Europes biggest bank to announce a strategy to reduce its exposure to lending money to fossil fuel development. The shareholderswhich include investors will total assets under management of US$2.4 trillion and some of which are the largest listed asset manager in Europe, Amundi, and the biggest listed hedge fund firm in the world, Man Group Plcfiled a climate resolution to be voted at HSBCs annual general meeting in April. |
| Are Clean Energy Stocks In Bubble Territory?The Age of Renewable Energy is upon us, with the global shift to renewable energy in full swing, but like any huge rally, the divide between the bulls and the bears widens exponentially, with bears calling for another big bubble to burst, and the bulls standing their ground with no thoughts of conceding at all. The bulls, of course, have a lot of ammunition. Clean energy stocks have been hot throughout 2020 and are showing no signs of letting off steam in the new year, thanks to the rapidly changing political landscape in the United |
| AstraZeneca Covid vaccine could be distributed across Europe by mid-February, EU official saysAstraZeneca’s vaccine against the covid-19 could be available across the European Union in mid-February after asking the European Medicines Agency for approval. |
| Coronavirus mutations: Here are the major Covid strains we know aboutThe new coronavirus has undergone several major mutations, and it’s likely that more, significant variations will emerge. |
| Party city Dubai, a haven for escaping lockdowns, gets kicked off UK travel corridor along with rest of UAE amid Covid spikeBrits flooded Dubai resorts to escape the harsh U.K. winter lockdown, triggered by the discovery of a rapidly spreading new coronavirus strain. |
| Governor explains how West Virginia became a top state for Covid vaccine administration“Now, what we need in West Virginia, we need more vaccines,” GOP Gov. Jim Justice told CNBC. |
| Moderna doesn’t expect Covid vaccine data for young children until 2022, CEO saysModerna doesn’t expect to have clinical trial data on its coronavirus vaccine in young children until 2022, CEOÂ Stephane Bancel said. |
| Walmart to create fintech start-up with investment firm behind RobinhoodThe retail giant interacts with millions of customers, including some who don’t have a relationship with a bank or a financial advisor. |
| Key House Democrats urge FAA to crack down on unruly travelers, rioters ahead of Biden’s inaugurationHouse lawmakers want the FAA to do more to prevent unruly travelers on flights |
| Rite Aid CEO said retailers will get tapped sooner than expected to help speed vaccine rolloutRite Aid has given more than 5,000 Covid vaccations so far and it’s seen the rollout’s challenges firsthand, its CEO said. |
| Senate Democrats demand Trump fix ‘failed’ Covid vaccine rolloutSenate Democrats demanded the Trump administration make changes to its Covid-19 vaccine rollout strategy, saying it has “failed” states. |
| 5 things to know before the stock market opens TuesdayU.S. stock futures rose Tuesday, a day after market declines from record highs. |
| More parts of China lock down as virus cases spike ahead of WHO visitLangfang city, located about 1.5-hours south of downtown Beijing, told its nearly 5 million residents on Tuesday to stay home for the next seven days. |
| Chinese electric car start-up Xpeng gets $2 billion in credit from state-owned banksAlibaba-backed Xpeng announced Tuesday it secured a credit line of 12.8 billion yuan from institutions including three of the “big five” state-owned banks. |
| Carmaker Nio is ‘well positioned’ to capture a lot of China’s electric vehicle market, analyst saysChinese electric car start-up Nio released its first sedan, the et7 with self-driving technology features that it claims surpass that of Tesla. |
| 2021 Investor Resolutions & “So Goes January…”2021 Investor Resolutions & “So Goes January…” Authored by Lance Roberts via RealInvestmentAdvice.com, With 2021 already off to a good start, with the market up almost 2% in January, such is an excellent time to review our œinvestor resolutions. So Goes January There is an abundance of œWall Street Axioms  surrounding the first month of the New Year as investors anxiously try and predict what is in store for the next twelve months. You are likely familiar with the œSuperbowl Indicator  to œSo Goes The First 5-days. So Goes The Month. Considering that trying to predict the markets more than just a few days in advance is mostly an exercise in œfolly,  it is nonetheless a traditional ritual as the old year passes into the new. While Wall Street espouses their always overly optimistic projections of year-end returns, reality has often tended to be somewhat different. However, from an investment management perspective, we can look at some of the statistical evidence for January to gain insight into performance tendencies looking ahead. From this analysis, we can potentially gain some respect for the risks that might lay ahead. According to StockTrader’s Almanac, the direction of January’s trading (gain/loss for the month) has predicted the course of the rest of the year 75% of the time. Starting from a broad historical perspective, the chart … |
| Casino Mogul, Conservative Megadonor Sheldon Adelson Dead At 87Casino Mogul, Conservative Megadonor Sheldon Adelson Dead At 87 Sheldon Adelson, the transnational casino magnate who is equally well known as a GOP megadonor and prominent booster of Israel, has died. He was 87. News of his death, broken by his wife of 30+ years, Dr. Miriam Adelson, followed reports about the casino magnate who owns hotels and casinos in Las Vegas and Macau, receiving treatment for cancer. Sheldon served as chairman and CEO of Las Vegas Sands, the publicly traded casino company he founded. Former President George W Bush and his wife Laura were quick to release a statement offering condolences to Adelson’s surviving family.
In a lengthy statement announcing his passing, his wife recounted his many business and charitable endeavors, as well as how his efforts helped shape the course of multiple countries, including the US and Israel. Read the full statement below: It is with unbearable pain that I announce the death of my husband, Sheldon G. Adelson, of complications from a long illness. Sheldon was the love of my life … |
| S&P Futures Rebound Even As Treasury Yields Blow Out Into “CTA Redline” TerritoryS&P Futures Rebound Even As Treasury Yields Blow Out Into “CTA Redline” Territory Global stocks and US equity futures rebounded from the recent selloff as investors paused to assess how much worse the COVID-19 pandemic could get while waiting for a new earnings season on Wall Street to inject fresh direction, even as 10Y yield jumped to new post-covid highs. S&P futures were 0.3% higher, while Europe’s Stoxx 600 Index traded little changed. Oil jumped to a 10 month high as the dollar resumed its decline and benchmark Treasury yields spiked to a level where CTAs are now shorting. After Bitcoin tumbled more than 20% on Monday, with many fly by night “experts” predicting the bursting of its bubble, the largest cryptocurrency quickly bounced back above $36,000. Tesla and Twitter are among the best performers in premarket trading.
The market mood markets was mildly positive after yesterday’s selloff, as investors continued to assess how the sharp rise in yields will change the financial landscape. While progress on a vaccine gives reason to be hopeful, there are ling … |
| Italian Government On Verge Of Collapse Amid Battle Over EU COVID ReliefItalian Government On Verge Of Collapse Amid Battle Over EU COVID Relief Under the leadership of Premier Giuseppe Conte, Italy’s government has enjoyed a degree of stability unseen in decades, as the technocratic former law professor – initially brought in to lead a government formed by two anti-establishment parties, the anti-migrant League and left-wing populist Five Star Movement – Conte has already survived the collapse of his original coalition. When League leader Matteo Salvini withdrew from the ruling coalition back in 2019, Conte managed to stave off another election by recruiting new allies from the opposition. Since then, Conte has led Italy through two COVID-19 lockdowns, and as the country lumbers forward, with much of its economy still paralyzed, the PM has his work cut out for him if he wants to get the country’s debt burden under control without resorting to punishing austerity measures (which, at this point, would probably spark a full-tilt revolution in the streets of Italy’s largest cities). But as Italy staggers out of another COVID-19-induced-lockdown, the ruling coalition is once again at the point of fracture. After Salvini quit the ruling coalition back in the summer of 2019, Conte struck a deal with Matteo Renzi, the former prime minister, who later broke off from the Democrats and formed his own centrist group. Well, now that Italy has finally received the ‚¬196 billion-euro ($240 billion) windfall from the European Union COVID bailout package, parliament must vote on how to spend the money. But since nothing is ever easy in Italy’s politically fragmented government, disagreements over spending priorities are prompting Matteo Renzi, a junior partner in t … |
| Families ‘struggling to pay for funerals’A report suggests there is a widening gap in the cost of funerals in different parts of the UK. |
| Edinburgh Woollen Mill rescue deal to save 2,500 jobsInvestors are close to agreeing a deal to save the chain, along with Ponden Home and Bonmarchà . |
| Warhammer sales surge for Games Workshop despite shop closuresSales of Games Workshop’s fantasy game have jumped as people spend more on hobbies in lockdown. |
| Wall Street visionaries provide chilling views on next big riskBloomberg Markets asked three of the wisest and most visionary people in the industry about their worries for the next 5 to 10 years |
| Market Movers: RIL, Tata Motors bolt higher; cash turnover hits 2-month highAs many as 42 stocks on the NSE gave a buy signal based on MACD indicators, including prominent names like JSW Energy, Bank of India, Tata Coffee, Coal India, State Bank of India and Nippon Life India AMC. |
| This Rs 1,000 cr wheel maker quadrupled Q3 profit, posts best ever quarterThe company said its profits rose to Rs 28.75 crore during the quarter, surging 357 per cent over Rs 6.29 crore that it reported in the same quarter last year. Quarter on quarter, its profits more than doubled. |
| Metals Stocks: Gold prices attempt back-to-back gain but steadily climbing U.S. bond yields pose headwindGold futures on Tuesday were edging up for a second session in a row as investors braced for the prospect of further fiscal stimulus to reflate the economy in the wake of the coronavirus pandemic when President-elect Joe Biden takes office on Jan. 20. |
| The Margin: Vogue defends this Kamala Harris cover photo that has sparked a backlash for being overly casualThe vice president-elect’s team was reportedly blindsided by the informal photo that critics are calling ‘disrespectful’ and ‘washed out’ |
| The Ratings Game: Kohl’s and Ralph Lauren upgraded as analysts examine 2021 retail sector expectationsHome improvement is expected to continue on a strong path this year. |
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