Written by Gary
Target’s same-store sales up 17% over the holidays as it holds on to some of its pandemic gains (SPY +0.2%). Sony begins testing its electric car concept on public roads.
Here is the current market situation from CNN Money | |
North and South American markets are mixed. The S&P 500 is higher by 0.21%, while the Bovespa is leading the IPC lower. They are down 1.79% and 0.53% respectively. |
What Is Moving the Markets
Here are the headlines moving the markets. | |
Total And Engie Plan Frances Largest Green Hydrogen PlantOil major Total and energy provider Engie have applied for subsidies which, if obtained, would allow them to build the largest green hydrogen facility in France that will use only solar power to produce hydrogen. Total and Engie have signed a cooperation agreement to design, develop, build, and operate Frances largest renewable hydrogen production site, which will be located in southern France and will meet the needs of Totals La Mde bio-refinery, the supermajor said on Wednesday. The companies plan to put the facility into | |
Oil Rises On Crude Draw Despite Product BuildsCrude oil prices jumped further today after the Energy Information Administration reported a crude oil inventory draw of 3.2 million barrels for the week to January 8. This compared with an estimated draw of 5.82 million barrels from the American Petroleum Institute and analyst expectations of a draw totaling 2.72 million barrels. It also adds onto the inventory decline of as much as 8 million barrels reported for the previous week, which helped push oil prices higher. Brent crude yesterday rose above $57 a barrel for the first time in almost a | |
GM Presents Cadillac Flying Car For Rich PeopleGeneral Motors stole the show on Tuesday after unveiling the Cadillac Vertical Take-Off and Landing (VTOL) vehicle and electric shuttle concepts in a virtual presentation at the CES expo, according toPCMag. GM’s vice president of global design, Michael Simcoe, said the car manufacturer is “preparing for a world where advances in electrics and autonomous technology make personal air travel possible.” Simcoe said the VTOL concept is GM’s “first foray into aerial mobility.” He added that other versions of the VTOL concept are in | |
UAE Tells U.S. Shale Producers Not To Rush To Restore ProductionU.S. oil producers should tread carefully this year and avoid boosting production, which could lead to another price slump, the energy minister of the United Arab Emirates told Bloomberg in an interview. Producers need to be careful not to flood the market, Suhail al-Mazrouei said, noting that the wise thing to do this year would be to be patient with production growth plans. Its not going to be easy to just go and build production, seeing the inventory levels where they are today, the official added. The U.S. | |
Enbridge Says Michigan Governors Shutdown Orders Are UnlawfulEnbridge rejected on Tuesday the notice of Michigan Governor Gretchen Whitmer to close its Line 5 pipeline, saying that it has no intention of shutting down the pipelines as the state’s action to terminate an easement for the Line 5 dual pipelines is unlawful. Governor Whitmer and the director of the state’s Department of Natural Resources revoked Enbridge’s easement for the operation of the twin Line 5 pipeline in the middle of November, citing repeated violations of the easement and the need to protect the Great Lakes. Michigan’s notice required | |
The Oil Industry Is In Dire Need Of InvestmentThe global oil market is in flux once again. The bulls are fighting it out with the bears as COVID lockdowns come into force around the world. Oil prices may have hit 10-month highs on the back of extended production cuts from OPEC+ but black clouds have re-emerged on the horizon as the majority of OECD markets appear to be struggling with a new strain of COVID. The new strain was first identified in the UK but has now been reported in China, Japan, and other major Asian markets. Optimism about short-term oil prices should be subdued as demand | |
Surprise! This chart shows holiday shoppers did rush to malls in final weeks of 2020A data analysis released this week by Placer.ai shows how shopper visits to malls have ebbed and flowed with the nature of the Covid pandemic. | |
Ohio researchers say they’ve identified two new Covid strains likely originating in the U.S.Jason McDonald, a spokesman for the Centers for Disease Control and Prevention, said in a statement to CNBC the agency is looking at the new research. | |
Walgreens looks to credit card, financial services to drive loyalty and boost revenueThe drugstore chain is looking for growth opportunities as consumers shop more online and competitors take some of its business. | |
Target’s same-store sales up 17% over the holidays as it holds on to some of its pandemic gainsTarget must prove it can hold on to market share gains as Americans get vaccinated and feel more comfortable returning to malls. | |
What we know about the spread of Covid among children ” and whether shutting schools reduces the riskSchool closures have a clear negative impact on children’s health, the United Nations health agency has warned. | |
Operation Warp Speed chief resigns at Biden team’s request, will stay through transition, sources sayThe scientific leader of the U.S. vaccine effort will stay in the role for 30 days, but won’t be chief advisor as of Inauguration Day, sources say. | |
U.S. Covid deaths reach another record as researchers find two new variants in Ohio“We’re in a very difficult situation, and it’s getting worse,” White House health advisor Dr. Anthony Fauci said Tuesday. | |
Capital riot reaction: Corporations and the future of political donationsCorporations are pulling back on political candidate contributions after Capitol Hill rioting in what could be a sea change in corporate spending on politics. | |
New York City may turn vacant retail space into Covid testing sites, says real estate mogulConverting vacant retail space into rapid testing sites could help people feel comfortable going back to restaurants, real estate executive William Rudin said. | |
France’s vaccine-skepticism is making its Covid immunization drive much harder ÂFrance is known to be one of the most vaccine-skeptic nations in the world, and that makes its Covid-19 immunization drive much harder. | |
Sony begins testing its electric car concept on public roadsIn an announcement made at CES 2021, the firm said testing began in Austria last month. | |
Urban Outfitters shares tumble on disappointing holiday sales, retailer taps Harrington as CEOUrban Outfitters shares tumbled after the apparel retailer reported disappointing holiday sales and announced its current chief executive is set to depart. | |
Brazil researchers now say China’s Sinovac vaccine is 50% effective ” lower than announced earlierThe Butantan Institute had said last week that CoronaVac was 78% effective among volunteers with mild to severe infections, reported the Wall Street Journal. | |
Dem Lawmaker Introduces Resolution To ‘Abolish’ Electoral College: How Would It Be Done?Dem Lawmaker Introduces Resolution To ‘Abolish’ Electoral College: How Would It Be Done? Authored by Jennie Taer via saraacarter.com (emphasis ours), Rep. Steve Cohen, D-TN, introduced a resolution to the House Judiciary Committee Monday to abolish the Electoral College. ‹ œMore than a century ago, we amended our Constitution to provide for the direct election of U.S. Senators, Rep. Cohen added in a statement. œIt is past time to directly elect our President and Vice President. The Electoral College is a vestige of the 18th Century when voters didn’t know the candidates who now appear daily on their phones and television screens. Rep. Cohen added, œLast week’s mayhem at the Capitol shows that attempts to manipulate the Electoral College vote by politicians employing falsehoods is a real danger. The President should always be elected by the people, not by politicians. | |
Caught On Video: National Guard Gearing Up With Rifles, Riot Shields At The CapitolCaught On Video: National Guard Gearing Up With Rifles, Riot Shields At The Capitol Last week, the Associated Press, citing the Secretary of the Army, said National Guard troops in the Washington Metropolitan Area, especially around the Capitol complex, could carry assault rifles and pistols though the decision was under review. Army Secretary Ryan McCarthy told The AP Friday that the military could let guardsmen carry M-4 rifles or 9 mm Berettas in a few days. As we come to find out, on Wednesday morning, CNN’s Josh Replogle reports that “racks upon racks of rifles and pistols” were unloaded from military vehicles and distributed to troops.Â
Dozens of pictures of guardsmen sleeping inside the Capitol were armed with what appears to be M-4 rifles by their sides. This comes after days of unarmed guardsmen seen around the Capitol earlier this week. | |
Is Inflation In Your Best Interest, Or The Fed’s?Is Inflation In Your Best Interest, Or The Fed’s? Authored by Michael Lebowitz via RealInvestmentAdvice.com,
How long before mobs storm the Mariner Eccles building (Fed headquarters) if Jerome Powell were to make such a statement? Is our mock proclamation that different from Powell’s comment on 12/16/2020:
During Powell’s most recent press conference, not one reporter asked how the public benefits from paying more for goods and services. Not one reporter has ever asked if inflation benefits all citizens or just a few. On rare occasions do reporters assess the efficacy of the Fed’s inflation target or its monetary operations? Today we share with you what the Fed, media, and Wall Street will not. By doing so, we help you decide if inflation is for the greater good. What is Price Stability? Congress delegates responsibility for monetary policy to the Fed but maintains oversight. They are supposed to ensure the Fed adheres to its statutory mandate of œmaximu … | |
Google Pausing All Political Ads, Airbnb Canceling All DC Reservations This WeekGoogle Pausing All Political Ads, Airbnb Canceling All DC Reservations This Week Google has informed its advertising partners that beginning Jan. 14, its platforms will block all political ads, as well as any related to the Capitol insurrection, “following the unprecedented events of the past week and ahead of the upcoming presidential inauguration,” Axios reports citing an internal email. Advertisers won’t be able to run any political ads or ads referencing candidates, the election, its outcome, the upcoming presidential inauguration, the ongoing presidential impeachment process, violence at the U.S. Capitol, or future planned protests on these topics, according to the email, which also said that “there will not be any carveouts in this policy for news or merchandise advertisers.” The ban applies to ads running through Google’s ad tech platforms including Google Ads, DV360, YouTube, and AdX Authorized Buyer. The company said it will be œextremely vigilant about enforcing its Dangerous and Derogatory Content policy, and added that it will “carefully examine a number of factors before deciding to lift this policy for advertisers,” but that the current plan is to keep this policy in place until at least Jan. 21, after inauguration. Google’s announcement is in line with a broader strategy that the tech giant has been using for years to prevent confusion around sensitive events. In March and early April, it implemented a temporary ban on advertising with COVID-19-related terms to stop confusion from spreading around … | |
Brexit will increase food supply chain costs, warn business groupsBrexit deal red tape will raise food and manufacturing supply chain costs, business groups tell MPs. | |
Morrisons to be first UK supermarket to pay minimum £10 an hourRival supermarkets defend their pay, with Asda saying looking at hourly rates does not tell the whole story. | |
Furlough fraud: I’m still registered as furloughed for a job I quit’Amid reports of mass furlough fraud the BBC hears from one worker who quit work but still gets furlough pay. | |
Are PFC retail bonds an attractive alternative to bank fixed deposits?This is billed as an alternative to bank fixed deposits that offer record low rates now. While investors can subscribe in four maturity categories, they can exit before scheduled maturities in the liquid secondary market. | |
Value investing’s rebound is a question of when, not ifInvestors readily and rightly accept that explanation in many other contexts, not least when it comes to the contest between stocks and bonds. | |
After strong Q3 results, will the top IT stocks sustain high valuations?A spate of large deal wins amid higher operating margins improves the revenue and profit visibility, which should help their stocks defend the current high valuations. | |
December 2020 CPI: Year-over-Year Inflation Rate GrowsWritten by Steven Hansen According to the BLS, the Consumer Price Index (CPI-U) year-over-year inflation rate was 1.4 % year-over-year (up from the reported 1.2 % last month). The year-over-year core inflation (excludes energy and food) rate was unchanged at 1.6 %. | |
The Moneyist: I asked my fiancà e, 30, to sign a prenup due to her spending. She refused. Would it be wrong to secretly put my assets in a trust?This man writes, ‘I love her dearly, but I am really concerned.’ | |
: Confronting a more threatening coronavirus situation than March, Brits are traveling much moreThe coronavirus situation in the U.K. is far more pervasive now than in March 2020 when the country first locked down, but the population is traveling outside their homes much more. | |
Coronavirus Update: U.S. sees record one-day death toll and experts worry new variant may make activities like plane travel more riskyThe U.S. set another grim milestone in the coronavirus pandemic on Tuesday, when more than 4,400 COVID-19 patients died, the most in a single day since the start of the outbreak, and experts said that with cases continuing to accelerate, the worst is still to come. |
Earnings Summary for Today
leading Stock Positions
Current Commodity Prices
Commodities are powered by Investing.com
Current Currency Crosses
The Forex Quotes are powered by Investing.com.
To contact me with questions, comments or constructive criticism is always encouraged and appreciated: