Written by Gary
US stocks rise for 3rd day as investors focus on robust tech earnings, rising oil prices (SPY +0.1%). The global wind energy industry is set to explode in 2021.
The Market in Perspective
| Here are the headlines moving the markets. | |
 | The Global Wind Energy Industry Is Set To Explode In 2021Despite the Covid-19 pandemic, the worlds installed offshore wind capacity rose by 15% in 2020, reaching 31.9 gigawatts (GW) at year-end, from 27.7 GW at the end of 2019, Rystad Energy estimates. China was the main contributor in 2020, accounting for 39% of last years additions, followed by the Netherlands (18%) and the UK (17%). Rystad Energy expects the global installed offshore wind capacity to further increase by 11.8 GW in 2021, a monumental 37% step-up compared to 31.9 GW in 2020. China will continue to lead the new capacity |
| How Reddit Investors Shook The Silver MarketRobinhoods army of small retail investors may have failed to storm the silver market, but the online brokers devotees certainly gave it an almighty shake. The spot silver price surged by 20% between last Thursday and Monday this week, briefly hitting an eight-year high of $30.03 an ounce. An increase in the margin required to trade silver on the CME exchange has curbed animal spirits and the metal has fallen back to $27.12, though a collective stampede for physical metal continues to deplete retail supplies of bars and coins. The |
| A Renewable Energy Waste Crisis Is LoomingIt turns out that the falling costs of solar panels is a double-edged sword for the environment. As photovoltaic technology becomes more affordable and therefore more widespread, some critics are becoming more and more worried about the growing threat of all the trash that those panels will eventually turn into. While renewable resources are greatly reducing many forms of waste associated with the fossil fuel industry, clean energy infrastructure contains its own fair share of harmful materials that will require special and costly disposal |
| The Electric Vehicle War Is Heating Up In ChinaThe EV unit of property giant China Evergrande said on Wednesday that it had started trial production of electric vehicles and showed photos and videos of SUVs on a winter road test, in what is the latest Chinese firm aspiring to become the new Tesla. Evergrande said in 2019 that it wanted to become the worlds top EV maker within three to five years, according to Bloomberg. Evergrandes planned manufacturing sites at Guangzhou and Shanghai have launched trial production of EVs, the company said in a statement carried by Bloomberg. |
| Argentina’s Shale Boom Is Competing With The BestThe oil production decline that the Covid-19 pandemic brought to Argentinas Vaca Muerta formation now seems like a distant memory. The reserves oil output has not only rebounded to pre-pandemic levels but also reached a record high of 124,000 barrels per day (bpd) in December 2020, a Rystad Energy report reveals. The ascent can continue towards the 145,000150,000 bpd range by the end of 2021 if current activity levels continue. Vaca Muerta, meaning dead cow in Spanish, is holding shale gas and tight oil economically recoverable |
| Oil Prices Rally As OPEC+ Maintains Its Production PolicyThe Joint Ministerial Monitoring Committee (JMMC) of the OPEC+ group wrapped up their monthly meeting on Wednesday in record time and, as widely expected, did not make any recommendation about changing the oil production levels of the alliance. The JMMC meeting this month was more of a formality rather than disagreements and bargaining like the previous meeting since OPEC+ decided in January how it would proceed with the production cuts for February and March. This month, the OPEC+ alliance is easing its production cuts by just 75,000 barrels |
| McDonald’s enters next phase of testing a U.S. loyalty program ahead of nationwide launchMcDonald’s on Wednesday said that it has entered the next phase of testing a U.S. loyalty program before it launches nationwide later this year. |
| CDC director says schools can safely reopen without vaccinating teachersTeachers do not need to get vaccinated against Covid-19 before schools can safely reopen, the head of the Centers for Disease Control and Prevention said. |
| Covid cases are falling, but unequal vaccine access threatens global recovery, WHO says“The rain has eased, but the sun’s not out yet,” said Dr. Mike Ryan, executive director of the WHO’s health emergencies program. |
| 15 snubs and surprises from this year’s Golden Globe nominationsThe Golden Globe winners will be announced Feb. 28. Here are some of the most surprising nominations and snubs from this year’s ballot. |
| Some apparel retailers won the holidays by keeping inventory lean. Now comes the hard part.The pandemic forced retailers to think lean, but some risk falling back into bad habits of buying too much stuff. |
| Ford unveils new version of highly profitable F-150 Raptor performance pickup, plans V-8 modelFord is increasing the capability and performance of its redesigned F-150 Raptor performance pickup, including the addition of a new model with a V-8 engine. |
| How ‘urgent’ Covid relief package consensus can be reached: Business Roundtable’s Josh BoltenJosh Bolten of corporate CEO trade group Business Roundtable |
| Shiseido to sell personal-care business to CVC in $1.5 billion dealShiseido is selling its personal-care business to private equity firm CVC Capital Partners in a deal worth $1.5 billion. |
| CDC director says to watch Super Bowl virtually or only with people you already live withThe CDC has published guidance on how to safely watch the Super Bowl, which urges people not to travel to gatherings. |
| Will Ferrell wages battle against Norway in GM’s 2021 Super Bowl adThe comedic ad features Ferrell rallying fellow comedians Kenan Thompson and Awkwafina to go to Norway in two of GM’s upcoming EVs. |
| ‘All I did was cry:’ Elderly Americans struggle to set up Covid vaccine appointmentsAmericans age 65 and older who are now eligible for a Covid-19 vaccine have been tirelessly trying to secure an appointment for the drug for weeks. |
| Golden Globes 2021: Female directors make history, Netflix dominates TV nominationsThe Hollywood Foreign Press announced the nominees for the 78th annual Golden Globe Awards on Wednesday. |
| Vaxart shares plunge 57% on concern that lackluster antibody response will hinder effectiveness of oral Covid vaccineThe vaccine, which comes in the form of a small tablet, generated a type of T-cell responsible for destroying virus-infected cells in about 75% of volunteers. |
| Big-Shorts, Bitcoin, Bond Yields, & Black Gold All BounceBig-Shorts, Bitcoin, Bond Yields, & Black Gold All Bounce After two days of bloodbathery in the most-shorted stocks, today was some relief (or a dead cat bounce)?
Source: Bloomberg With KOSS, AMC, and BBBY all up (GME gave back most of its gains)…
Source: Bloomberg And notably, the hedge fund VIP stocks also rose along with the most-shorted… |
| US Has Extended New START Nuclear Treaty With Russia For 5 Years: BlinkenUS Has Extended New START Nuclear Treaty With Russia For 5 Years: Blinken Secretary of State Antony Blinken announced early Wednesday the US has formally agreed to extend the New START treaty with Russia for another five years. “Extending the New START Treaty ensures we have verifiable limits on Russian ICBMs, SLBMs, and heavy bombers until February 5, 2026,” Blinken said in a statement according to Reuters. The landmark treaty, which marks the last major arms control agreement between the US and Russia, limits the number of strategic nuclear weapons maintained by the former Cold War rivals to no more than 1,550 each. Blinken said in his statement:
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| Prosecution Of Top Officials “Unlikely” Outcome Of Durham ‘Russiagate’ Probe, ReportProsecution Of Top Officials “Unlikely” Outcome Of Durham ‘Russiagate’ Probe, Report Authored by Douglass Braff via SaraACarter.com, While Special Counsel John Durham’s investigation into the origins of the Trump-Russia probe is generally focused on the FBI’s activities, sources familiar with the investigation told Fox News the prosecution of high-ranking FBI officials, such as former Director James Comey, is œunlikely.
In a report published Tuesday, Fox News reports that sources told the publication that the investigation is ongoing and that Durham last year concluded the part of his investigation looking into the CIA and he is now examining the FBI’s activities. Additionally, another source told the news outlet that the special counsel had been pursuing œnew and credible leads through the end of the Trump admini … |
| Visa Says “No Reason” Why It Cannot Add Bitcoin To Its NetworkVisa Says “No Reason” Why It Cannot Add Bitcoin To Its Network If one ever wants to get the worst possible – and most incorrect – “take” in the world of finance at any given moment, one should just listen to the man who has mad an art form of “failing upward”, the former Goldman, Pimco B-grade employee, failed candidate for California governor, and current Minneapolis Fed uberdovish president, Neel Kashkari who after doing everything in his power to blow the biggest asset bubble in history and enabling the price explosion in such assets as bitcoin, had the temerity to slam the relentless move higher in the cryptocurrency. On Monday, speaking somewhere (meaning some people actually cared about his opinion), Kashkari said – without a trace of irony – that Bitcoin is “a novelty, a toy, that people speculate on.” So… like all other assets which are terminally disconnected from fundamentals thanks to the Fed’s trillions in newly generated liqudity, hence bubble? Yet while ignoring Kashkari’s “sophisticated” opinion is not only easy but mandatory in this day and age, what many missed last week when the world was transfixed by the reddit rollercoaster, is what Visa said in its earnings call, namely that the largest global payments processor is this close to adopting bitcoin:
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| Beckham-backed cannabis skincare firm to sell sharesCellular Goods sold a stake to DB Ventures, the footballer’s investment firm, Sky News reported. |
| Black bosses ‘shut out’ by ‘vanilla boys’ club’Many black people feel they have little chance of reaching the top, says equality watchdog ex-chief. |
| Ryanair rapped over ‘misleading’ Covid advertsThe Advertising Standards Authority got 2,370 complaints – the third most of any advert. |
| LIC IPO may hit market in Q4 of next fiscal: DEA SecretaryAs many as 27 amendments have been pushed through the Finance Bill 2021 tabled by Finance Minister Nirmala Sitharaman on Monday along with the Union Budget 2021-22. |
| Bharti Airtel board okays plan to raise up to Rs 7,500 crore via bondsAirtel’s latest fundraise plans come on a day India’s second-largest telco returned to the black on the back of a one-time gain related to the recent merger of Bharti Infratel and Indus Towers and strong addition of data users which led to record revenue. |
| Sebi bars Future Group CEO Kishore Biyani from accessing securities market for 1 yearThe Sebi order has explicitly excluded any deal that’s awaiting approval, which means that it won’t pertain to the proposed sale of Future’s retail assets to Reliance Retail. |
| : Trojan parent Church & Dwight expects revived sales of condoms and dry shampoo in 2021 as people get closer againSales of gummy vitamins and baking soda jumped during COVID-19 and could now slow. |
| The Ratings Game: Amazon’s delivery speed is facing increasing competition from rivals with a fleet of storesContinued innovation in retail and other businesses will help Amazon thrive even after COVID-19, analysts say. |
| Market Snapshot: U.S. stocks rise for 3rd day as investors focus on robust tech earnings, rising oil pricesAll three major U.S. stocks indexes are trading with modest gains Wednesday afternoon, with technology and energy stocks up after oil hit $56 a barrel and Amazon and Google report healthy results in the second-busiest week of the quarter earnings reports. |
Via Reuters
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