Written by Gary
Taco Bell owner Yum Brands earnings top estimates, despite blow of international Covid restrictions (SPY +0.5%). Biggest midday movers: Qualcomm, eBay, GameStop.
Here is the current market situation from CNN Money | |
European markets finished mixed as of the most recent closing prices. The DAX gained 0.91%, while London’s FTSE 100 was off 0.06%. Shares in France were unchanged with the CAC 40 at 5,563.05. |
What Is Moving the Markets
Here are the headlines moving the markets. | |
The COVID-19 Pandemic Has Upended Global Energy Investment TrendsThe pandemic has not broken but intensified global energy trends that emerged on the eve of COVID-19, whether it be the collapse of coal-fired power generation, the growing surplus of oil production, or the booming interest in renewables The further 2020 goes into history, the clearer the extent of last year’s collapse in fossil fuel demand becomes. According to the Energy Information Administration (EIA), in 2020, global crude oil demand decreased by 9%, to 92.2 million barrels per day (bpd) the level at which it was in 2013 (92.3 million | |
India Worried About Rapid Oil Price RallyIndias Petroleum Minister Dharmendra Pradhan has warned that higher oil prices could interfere with global economic recovery in the latest signal from New Delhione of the worlds biggest drivers of oil demand growthis unhappy with where prices are going. Efforts at artificially distorting prices will have a dampening effect on the fragile global economic recovery that is underway,Pradhan said, as quoted by Reuters, at the S&P Global Platts South Asia Commodities Forum. This is not the first time | |
How The Coup In Myanmar Will Impact Energy MarketsMyanmars military coup has become Asias most significant political development in 2021 so far. In many ways, the coup brought back memories of times long gone Aung San Suu Kyi, who has marked another landslide victory in the November 2020 general election, was swiftly detained by the military allegedly for the possession of illegally imported walkie-talkies. The Aung San-allied President Win Myint was ousted under the pretext of him breaching the countrys coronavirus laws during the pre-election campaign meetings. Briefly | |
Mexico Halts AMLOs Push For State Controlled Electricity MarketThe Supreme Court of Mexico ruled against proposed changes to how the countrys electricity market is regulated, saying they would prioritize the state utility over private companies, which was unconstitutional. The Wall Street Journal reports that the ruling would set back efforts by President Andres Manuel Lopez Obrador to give more power to state-owned companies such as utility CFE and oil giant Pemex. The Mexican Energy Ministry last year published a policy that required the grid operator of the country to buy electricity from CFE before | |
Shells Profits Plunge 87% In 2020Anglo-Dutch supermajor Shell reported a profit of 4.85 billion for 2020, down 87 percent on the year, from $16.46 billion booked for 2019. While the result was negatively affected by the pandemic, Shell still managed to remain in the black, unlike peers including BP and Exxon. The company was also upbeat for this quarter, raising its dividend to $0.1735 per share from $0.1665 per share to be distributed for the final quarter of 2020. 2020 was an extraordinary year, chief executive Ben van Beurden said at the release of Shells | |
How High Will Oil Prices Go This Year?Introduction This week we hit some milestones in the year-long recovery from the oil demand crash of 2020. West Texas Intermediate, (WTI) hit and moved past the $55.00 level, and Brent moved closer to $60. These are some important psychological barriers for the market, and if sustained, as we expect they will be, will push prices higher. What happened? The API announced a significant draw of ~4.3 mm barrels in crude stocks yesterday when a modest build was expected. Moves lower in gasoline and distillate stocks bolstered this price move, | |
Nordstrom sees revenue rising 25% in 2021 as it puts focus on Rack, small-format stores and e-commerceWith new shoppers patterns, Nordstrom said it plans to focus its investments on smaller-format stores, building its off-price Rack business and e-commerce. | |
Airlines, labor unions push for a third round of federal aid with travel demand still depressedSome airlines and labor unions are seeking another $15 billion in federal payroll aid as pandemic continues to strain carriers. | |
Ford forced to cut profitable F-150 pickup truck production due to semiconductor chip shortageFord is cutting production at plants in Michigan and Missouri that produce its profitable F-150 pickup trucks due to a global semiconductor chip shortage. | |
Role of medical drones in global Covid vaccine campaign is growingDrone-delivery start-up Zipline plans to distribute Covid-19 vaccines with end-to-end cold chain capabilities. | |
Outspoken Merck CEO Kenneth Frazier, who challenged Trump on race issues, to retire this yearMerck CEO Ken Frazier will be succeeded byA the chief financial officer Robert Davis, the company said. | |
Ford CEO promises ‘year of action’ as he accelerates company restructuring and transition to EVsFord CEO Jim Farley says he will provide a clear and decisive plan for the company as the auto industry transitions to electric vehicles. | |
Kohl’s sees holiday-quarter revenue down 10%, but says sales strengthened toward end of quarterChief Executive Michelle Gass said digital sales represented more than 40% of net sales during the period, growing more than 20% year over year. | |
NFL says it has a plan for Super Bowl safety, but experts still warn of Covid risksThe National Football League said it has not traced any outbreaks from fans attending 100 games this season. | |
L Brands shares jump on raised forecast, possible Victoria’s Secret spinoffThe company has been going through a reorganization as it tries to stabilize Victoria’s Secret. | |
Taco Bell owner Yum Brands earnings top estimates, despite blow of international Covid restrictionsCovid-related dining room closures outside the U.S. weighed on same-store sales growth at KFC and Pizza Hut. | |
Quest says high demand for Covid testing drove record revenues, increases dividend“Continued high demand for COVID-19 testing drove our performance through the second half of the year,” CEO Steve Rusckowski said. | |
Coach owner Tapestry sales fall 7% in holiday quarter, sees 2021 revenue up in high-single digitsTapestry posted holiday-quarter earnings and sales that topped analysts’ estimates, helped by a surge in demand for its handbags in China and online. | |
Scotch whisky distilleries to use renewable electricity created by underwater turbinesElectricity could be made available to whisky distilleries via a direct connection or through the grid. | |
KOSS, AMC Insiders Dumped Millions Of Shares Into Reddit-Raid-RallyKOSS, AMC Insiders Dumped Millions Of Shares Into Reddit-Raid-Rally As the Reddit Raid rally fades, there are winners and losers on either side of the various trades placed. However, there are some that did very well – the heavily-shorted-company’s executives! Silver Lake Group dumped over 33million AMC shares into the ramp… Source: Bloomberg And various executives at KOSS (John Koss, Michael Koss, David Smith, and Lillie Lenore) dumped around $24 million of shares into the ramp… Source: Bloomberg … | |
SF School Teacher Says Bernie Sanders’ Mittens Are A Symbol Of “White Privilege”SF School Teacher Says Bernie Sanders’ Mittens Are A Symbol Of “White Privilege” Authored by Paul Joseph Watson via Summit News, In an article published by the San Francisco Chronicle, a public school teacher asserts that Bernie Sanders’ inauguration mittens are a symbol of white privilege. � The article begins with Ingrid Seyer-Ochi revealing how she conducted a lesson on the Capitol building breach, telling her high school students, This is white supremacy. � Across our Zoom screen, they affirmed, with nods, thumbs-ups, and emojis of anger and frustration, � she writes. Seyer-Ochi, a former UC Berkeley professor, then explains that she oversaw a similar study of the inauguration (why a teacher is spending so much time analyzing current affairs through her obviously demented far-left bias isn’t explained, but this is San Francisco). What do we see? � I asked agai … | |
SWIFT Sets Up Joint Venture With China Central Bank Ahead Of Imminent Digital Yuan LaunchSWIFT Sets Up Joint Venture With China Central Bank Ahead Of Imminent Digital Yuan Launch It’s been a long time coming, and now it’s almost here. Back in August we reported that China’s Commerce Ministry had released fresh details of a pilot program for the country’s central bank digital currency (CBDC) to be expanded to several metropolitan areas, including Guangdong-Hong Kong-Macao Greater Bay Area, Beijing-Tianjin-Hebei region, and Yangtze River Delta region. This was the inevitable culmination of a process which started back in 2014 when as we reported at the time, “China Readies Digital Currency, IMF Says “Extremely Beneficial”” Fast forward a few months when China’s preparations to rollout a digital yuan gathered pace, and | |
Micro-Caps Are Soaring As GameStop CollapsesMicro-Caps Are Soaring As GameStop Collapses GameStop is now down almost 90% from its record highs last week as Reddittors run for the hills… From Jan 21st close, when the moves started hitting the heavily-shorted stocks, KOSS is still up 500% (was up over 4500% last week), AMC +150%, and even GME up over 50% (but they are all drastically down from their highs) And as the heavily-shorted stocks collapse, micro-cap US equities are surging… | |
Bank of England: Economy to rebound strongly due to vaccineHigh Street Banks are also told to prepare for the possibility that interest rates could fall below zero. | |
Dogecoin takes off after tip by Elon MuskThe currency has risen more than 800% in the year so far. | |
Heathrow workers to launch February strike actionWorkers will start a wave of action on Friday, but Heathrow says the airport will keep operating. | |
India’s gold punters hit by double whammy of duty cut, fall in overseas priceThe duty cut, along with the recent correction, has caused inventory loss to jewellers who haven’t hedged their risk, to Sovereign gold bond holders and gold bulls on the futures market. | |
RBI’s words will have to speak louder than action as market looks for answersWhen the rate-setting panel sets to release its statement on Friday, it will have to choose its words with even more care than before, as they may end up deciding the course the bond market and equity market will take going ahead. | |
Up 13% in 5 days! Why these two tractor stocks are in the limelight againAnalysts expect tractor volume to remain either flat or grow marginally in FY22 as the pent-up demand subsides gradually. | |
NewsWatch: Yellen says regulators will discuss whether ‘further action’ is needed in recent meme stock frenzyTreasury Secretary Janet Yellen said Thursday that her meeting later in the morning with top federal regulators will discuss whether ‘further action’ is needed to address the recent frenzy in so-called “meme stocks.” | |
: A pandemic and now GameStop have turned young people onto investing. These top TikTok accounts offer advice for budding Warren BuffettsHow does a young investor navigate TikTok without getting lost in the scroll? Top financial TikTokers have some advice. | |
The Conversation: The dark side of the GameStop bubble: Driving stock prices to the moon can hurt AmericaStock market bubbles and crashes are good for neither Wall Street nor Main Street. |
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