Written by Gary
Only 49k jobs added vs. 50,000 expected as the unemployment rate tumbles to 6.3% from 6.7%. Rail movements up 5.3% in January.
Here is the current market situation from CNN Money | |
 | European markets are higher today with shares in France leading the region. The CAC 40 is up 0.82% while Germany’s DAX is up 0.28% and London’s FTSE 100 is up 0.05%. |
What Is Moving the Markets
| Here are the headlines moving the markets. | |
 | Can Anything Help Restore Wall Streets Confidence In U.S. Shale?Rallying oil prices are testing once again the U.S. shale patchs resolve to spend within their means and prioritize profitability over production growth. U.S oil prices above $55 a barrel are also testing the patience of investors with American oil producers, and investor hopes that this time around shale firms will keep, for a change, their promises to stay disciplined in spending for drilling. The higher the price of oil, the greater the temptation to plow more cash into new wells. The fact that U.S. oil companies are |
| Alberta Wants To Make The U.S. Pay For Scrapped Keystone XLAlberta, Canadas oil heartland, may seek compensation from the United States after newly inaugurated President Joe Biden moved to nix the Keystone XL Pipeline, Bloomberg said on Thursday. Alberta spent $1.2 billion on the project so far, and may look to the North American Free Trade Agreement (NAFTA) to help it recoup some of those costs, according to an official from Premier Jason Kenneys office said. The pipeline was supposed to carry 800,000 barrels of oil per day from Canada to the United States. The death of the Keystone XL project |
| These Green Sectors Are Minting BillionairesWant to get rich quick while playing a part in fighting climate change? Then consider investing in green energy sectors that have been minting billionaires faster than any other segment of the energy market in history. The clean energy sector has been hot over the past few years and is so far showing no signs of letting off steam in the new year, thanks to the powerful ESG and clean energy megatrends. They say a rising tide lifts all boats; however, not all corners of the clean energy market have been equally bright. Whereas the EV, solar, and |
| Norways $1.2-Trillion Wealth Fund To Fight Corruption At National Oil CompaniesNorways oil fund, as the worlds biggest sovereign wealth fund is commonly known, will expand its scrutiny for possible corruption at national oil companies under strengthened guidelines from the funds ethics council, Bloomberg News reported on Thursday, citing the councils updated plan it had seen. The Norwegian fund, Government Pension Fund Global, which had a total market value of US$1.2 trillion (10.4 trillion Norwegian crowns) at end-2020, regularly reviews its holdings in companies from all sectors and excludes |
| Is Amazon As Green As It Claims To Be?On Tuesday, Amazon released an 8,000-word press release chock-full of revelations about the company, including Jeff Bezos official resignation as chief executive office of the etail megalodon, his replacement by Amazon insider Andy Jassy, and record-breakingly lucrative year-end numbers. In 2020 Amazons annual revenue shot up 38% to a whopping $386 billion, which comes out to a yearly increase of over $100 billion. But 38% seems like a small number compared to the companys net profit growth, which increased a stunning 84% from |
| Denmark To Build Wind Energy Hub On Artificial Island In The North SeaDenmark will build an artificial island in the North Sea, which will serve as a wind energy hub eventually capable of meeting the electricity consumption of 10 million European households with green energy, the Danish Climate and Energy Ministry said on Thursday. Denmark has a very ambitious and legally binding target to reduce its greenhouse gas emissions by 70 percent by 2030 compared to 1990 levels, and reach net-zero emissions by 2050 at the latest. At the end of last year, Denmark announced it would stop extracting oil from the North |
| How can I get a coronavirus shot? Here are 5 vaccination questions answeredIt’s no surprise that questions related to the coronavirus pandemic have dominated search engines over the past year. |
| Merck CEO says public service is in his future, but not politics, as he plans June retirementMerck CEO Ken Frazier is retiring in June. He leaves a legacy of a focus on research, and a commitment to social justice that he’s likely to continue. |
| New Covid strains ‘may even escape the immune response,’ says Biden Covid advisorDr. Celine Gounder warns about the highly transmissible new Covid variants, vaccine resistance, and why Americans should not let their guards down on the virus. |
| Tapestry CEO says heart-shaped Kate Spade bag sold out after going viral on TikTok“We were able to harness that. The bag sold out. We got it restocked,” Tapestry CEO Joanne Crevoiserat told CNBC. |
| Clorox looking at long-term growth as consumers change at-home habits, CEO Linda Rendle says“We have our sights set on accelerating the growth in the long term and we see tremendous opportunity to do that,” Rendle said. |
| Will the Biden administration revive the CEO perp walk? Defense lawyers are telling clients to be on guardHow tough is the Biden administration likely to be on corporate wrongdoing? White collar defense lawyers worry about a return of CEO perp walks. |
| 5 things to know before the stock market opens FridayU.S. stock futures rose Friday ahead of the before-the-bell release of the government’s January employment report. |
| Peloton CEO John Foley promises customers more clarity on wait times for delayed ordersPeloton’s CEO is promising anxious customers still waiting on their cycles that the company is working to offer clearer answers on when those might arrive. |
| Johnson & Johnson requests emergency authorization from FDA for Covid vaccineIf J&J’s application is approved, it would be the third Covid vaccine authorized for emergency use in the U.S. behind those developed by Pfizer-BioNTech and Moderna. |
| Hershey tracked Covid trends after seeing s’mores demand rise as cases grew, CEO saysHershey said its chocolate sales were 40% to 50% higher in areas with an increased number of Covid-19 cases than areas that were lower. |
| Ford boosts investment in electric and autonomous vehicles to $29 billion through 2025Ford CFO John Lawler said the company is forecasting it will earn between $8 billion and $9 billion in adjusted pretax profits this year. |
| Chobani is eyeing an IPO later this yearYogurt-maker Chobani is considering going public later this year through an initial public offering. |
| Koss family and company’s execs cash in $44 million in stock during short squeeze frenzyMembers of the Koss family alone sold $31 million of the stock, according to SEC filings |
| January Payrolls Miss: Only 49K Jobs Added As Unemployment Rate Tumbles To 6.3%January Payrolls Miss: Only 49K Jobs Added As Unemployment Rate Tumbles To 6.3% Following last month’s dismal unemployment print, which saw the first contraction since April in December payrolls, expectations were high for a solid rebound in January – maybe too solid – and unfortunately while jobs did grow in January, the final number of +49,000 came in well below the 105K consensus estimate, if up solidly from December’s downward revised -227K.
Developing. Â Tyler Durden Fri, 02/05/2021 – 08:33 |
| Senate Dems Push Through $1.9TN Stimulus Blueprint As Harris Casts First TiebreakerSenate Dems Push Through $1.9TN Stimulus Blueprint As Harris Casts First Tiebreaker Democrats moved to push through President Joe Biden’s $1.9 trillion stimulus plan with or without – most likely without – Republican support. Following an hours-long “vote-o-rama” (a sophisticated legislative procedure, for those who aren’t familiar), VP Kamala Harris cast her first tie-breaking vote to approve the budget plan in the Senate. The deciding vote came early Friday morning, after about 15 hours of all-night debate, and votes on dozens of amendments. In the end, the Senate found itself in a 50-50 partisan deadlock, allowing Harris to break the tie in a 0530ET vote…
… but not before a series of amendments were passed to the budget plan that passed the House on Wednesday. Reuters offered an example: the Senate … |
| Futures Hit All Time High, Oil Soars Ahead Of Jobs ReportFutures Hit All Time High, Oil Soars Ahead Of Jobs Report With overnight US equity futures rising for a 5th straight day, tracking global markets, the Emini climbed to a new all time high as investors parsed through a flurry of corporate results amid signs the U.S. labor market may be gradually improving, while covid news continued to improve.
At 7:30 a.m. ET, Dow E-minis were up 146 points, or 0.51%, Nasdaq 100 E-minis were up 51.25 points, or 0.39% and S&P 500 E-minis were up 18.75 points, or 0.49%. Some notable moves: Pinterest jumped 11% after the image-sharing company reported better-than-expected quarterly results, benefiting from strong user growth and heavy advertising by e-commerce retailers during the holiday season. Johnson & Johnson rose 2.2% after the drugmaker said it had asked U.S. health regulators to authorize its single-dose COVID-19 vaccine for emergency use, and it would apply to European authorities in coming weeks. Snapchat dropped about 7% after it warned that upcoming privacy changes by Apple could hurt its ad business … |
| US Warship “Expelled” From South China Sea By PLA ForcesÂUS Warship “Expelled” From South China Sea By PLA Forces The superpower clash between China and the U.S. continued on Friday as a U.S. Navy ship sailed near the Chinese-controlled Paracel Islands in the heavily disrupted South China Sea, only to get an stern rebuke (and what some would call, an appropriate response) from Beijing. The USS John S. McCain, an Arleigh Burke-class destroyer, entered the waters near Paracel islands Friday without China’s permission on a “freedom of navigation operation,” the first known operation in the heavily disputed area under the new Biden administration.Â
Shortly after, CGTN reported that the People’s Liberation Army (PLA) “expelled” the destroyer after it “trespassed” into China’s territorial waters. Tian Junli, a spokesperson for the PLA Southern Theater Command, said the move “seriously infringed China’s sovereignty and security.” He said PLA troops in the region are on “high alert at all times to protect the peace … |
| Energy prices to rise for millions of householdsThe average customer on a default tariff is likely to see their annual bill increase by £96 in April. |
| House price rises ‘could be running out of steam’The Halifax says prices fell last month and are likely to come under pressure in the months ahead. |
| Forget Frankfurt and Paris, says Barclays bossBrexit gives one of the UK’s most important sectors the chance to define its own agenda, he said. |
| RBI Governor Das’ message to govt: Don’t tinker with my inflation targetIn little more than 100 words in his statement, the governor made a case for keeping the inflation target for the MPC at its current level of 4 per cent with a 2 per cent leeway on upside and downside. |
| Why this global brokerage sees 50% downside in Tata Motors sharesMaybank Kim Eng Securities analysts say the stock is overvalued considering multiple headwinds. |
| Analysts remain bullish on Jubilant Food on strong Q3According to Motilal Oswal Financial Services, Jubilant has been the biggest success story in the Indian quick-service restaurant industry, driving growth with its delivery-based business model. |
| Rail Week Ending 30 January 2021 – Rail Movements Up 5.3% In JanuaryWritten by Steven Hansen Week 4 of 2021 shows same week total rail traffic (from the same week one year ago) improved according to the Association of American Railroads (AAR) traffic data. Total rail traffic has been mostly in contraction for over one year – and now is slowly recovering from the coronavirus pandemic.
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| Need to Know: GameStop’s meteoric gains have almost entirely disappeared ” here’s advice for those who didn’t get out in timeThe GameStop ride is over. Here’s advice on what to do next. |
| ETF Wrap: ETF Wrap: Have a heart, and Bezos in an ETFETF Wrap is a briefing of what investors need to know about the exchange-traded fund sector, including exclusive commentary and interviews on the industry from MarketWatch |
| Bond Report: 30-year U.S. Treasury yield closes on key 2% level before January jobs reportTreasury yields move higher in early Friday trade before the monthly employment report that is expected to show modest job gains for the U.S. economy in January. |
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