Written by Gary
Boeing delivers 26 planes in January and Qatar approves worlds largest lng project (SPY -0.1%). GM extending shutdowns at three car and crossover plants due to chip shortage.
The Market in Perspective
| Here are the headlines moving the markets. | |
 | Qatar Approves Worlds Largest LNG ProjectQatar Petroleum took this week the final investment decision to build what it says would be the worlds largest liquefied natural gas (LNG) project in terms of capacity, as the tiny Gulf nation and top global LNG exporter aims to raise its annual production by 40 percent by the end of 2025. Qatar Petroleum sanctioned the North Field East Project (NFE), which is set to raise Qatars LNG production capacity from 77 million tons per annum (mmtpa) to 110 mmtpa. The project, expected to start production in the fourth quarter of 2025, |
| Germanys Gas Storage Depletes Fast Amid Lower Gazprom FlowsGermanys gas storage levels are lower than typical for the beginning of February in full winter season, and the main reason for this is reduced natural gas pipeline flows from Russian giant Gazprom, especially at the Velke transit point in the Czech Republic, German outlet Der Spiegel reported. According to data from Gas Infrastructure Europe, Germanys storage was 40.6 percent full as of February 7. This is a low figure for the start of the winter month of February, Eugen Weinberg, an analyst with Commerzbank, told Der Spiegel, but |
| Bullish Sentiment Takes Over Oil MarketsInvestor Alert! Oilfield service giants are looking like an increasingly good investment as oil prices rebound. Read our latest Global Energy Alert investment column to get the full breakdown of what to watch…Chart of the Week- The EIA sees U.S. oil production returning to 2019 levels by 2023 and then remaining between 13 and 14 mb/d through 2050.- The agency sees Brent prices rising from an average of $42 per barrel in 2020 to as high as $73 per barrel by 2030 and $95 per barrel by 2050.- The |
| Tesla’s $25,000 China-Made Compact Car To Sell GloballyTesla China, which is set to design a new compact $25,000 Tesla in Shanghai, will eventually sell the model worldwide, Teslarati reported on Tuesday, citing a recent interview of Tesla China’s President Tom Zhu with Chinese state-affiliated media outlet Xinhua Net. According to the executive, Tesla China’s new compact and cheaper electric vehicle will be designed at the Shanghai factory’s research and development (R&D) center, which is already under construction. “This R&D center is also the first Tesla R&D center outside the |
| UAE Aims To Triple Its Solar Installations By 2025The installed renewable capacity of the United Arab Emirates, which until recently was nearly non-existent, concluded 2020 at 2.3 gigawatts (GW), around 91% of which comprises of solar PV projects, a Rystad Energy analysis shows. Solar PV additions are going to pile up, especially from 2022, and drive the countrys total renewable capacity to an impressive 9 GW by the end of 2025. Rystad Energy, evaluating activity in the country, expects solar PV capacity to reach 8.5 GW in the UAE by the end of 2025, being by far the technology that will |
| The Rapid Rise Of National Oil CompaniesThe world oil markets are facing a perfect storm which eventually could lead to structural economic and geopolitical changes. While Covid-19 has decimated markets and slashed profits, climate awareness and a green restart are gaining momentum in most developed countries. While it remains uncertain how demand will develop over the next few decades, it is becoming more likely that the traditional economic power balance between international and national oil companies will change. Before the oil crisis of 1973, Western oil companies |
| J&J CEO says people may need annual Covid vaccine shots for the next several yearsPeople may need to get vaccinated against Covid-19 annually, just like seasonal flu shots, over the next several years, J&J CEO Alex Gorsky told CNBC. |
| Walgreens executive says widespread Covid vaccines will be available in the springWalgreens will start vaccinations Friday at some stores but will have limited doses for only high-priority groups. |
| Nearly half of adult Americans say they intend to receive a Covid vaccine, CDC study findsA new study from the CDC says roughly 49% of U.S. adults surveyed in December said they were absolutely certain or very likely to get vaccinated. |
| About 60% of nursing home staff declined Covid vaccines, Walgreens exec saysThe declined vaccines indicate another challenge that the country will face: Persuading the majority of Americans to get the lifesaving vaccine. |
| FEMA is seeking bids on $3 billion in contracts to hire medical personnel for Covid vaccine centersFEMA said its $3 billion in awards will help the government meet its estimated need of 5,000 vaccinators who will be deployed to sites across the country. |
| Biden administration to begin shipping Covid vaccine doses to community health centers“Equity is our North Star here,” said Dr. Marcella Nunez-Smith, chair of the White House’s Covid-19 Health Equity Task Force. |
| Tilray shares surge nearly 40% on deal to import and distribute medical cannabis in the UKTilray stock soared after an agreement with Grow Pharma to import and distribute its medical cannabis products in the United Kingdom. |
| Boeing delivers 26 planes in January as cancellations continue to outpace new salesBoeing delivered 26 planes in January and its backlog shrunk as cancellations outpaced new orders. |
| For $100,000, Black-owned private equity firm offers pro athletes restaurant franchise optionsMinority-owned private equity firm Corlex Capital is partnering with former NBA center Theo Ratliff to raise money for restaurant franchising. |
| Michelle Obama returns to Netflix with children’s cooking show ‘Waffles + Mochi’“Waffles + Mochi” is a children’s cooking show coming to Netflix starring former first lady Michelle Obama. |
| GM extending shutdowns at three car and crossover plants due to chip shortageGM said the shutdown extension, which will be reassessed in mid-March, is meant to assist in maintaining production of more profitable pickup trucks and SUVs. |
| Uber will offer free rides to Walgreens to expand Covid vaccine access in underserved communitiesWalgreens and Uber are teaming up to make it easier for people who do not have a car or a pharmacy nearby to get the coronavirus vaccine. |
| Nissan lowers sales forecast as CEO acknowledges disruption caused by chip shortageA range of factors have squeezed the global supply of semiconductors. |
| Watch Live: Trump Impeachment Team Makes Their Case; Turley UnimpressedWatch Live: Trump Impeachment Team Makes Their Case; Turley Unimpressed Watch live below: Update (1602ET): Trump attorney Bruce Castor Jr. began Trump’s legal defense by condemning those responsible for the violence at the Capitol. “You will never hear anybody representing former President Trump say anything at all other than, what happened on January 6th in the storming and the breaching of the Capitol should be denounced in the most vigorous terms,” he said, before arguing that it’s unconstitutional for the Senate to hold a trial to convict a former president, and suggesting that Democrats are really impeaching Trump to bar him from running in the future.
Constitutional attorney Jonathan Turley, an impeachment witness during Trump’s first Senate trial, appears largely unimpressed, though agreed with Castor making a “Rule 23” argument. |
| Small Caps Surge To Longest Win Streak Since 2019 As Dollar DivesSmall Caps Surge To Longest Win Streak Since 2019 As Dollar Dives The dollar dived to its lowest in 2 weeks today
Source: Bloomberg That’s dollar weakness against other fiat faux pas, relative to ‘alternative currencies’, the dollar is in freefall…
Source: Bloomberg “You have meddled with the primary forces of nature, Mr Powell, and I won’t have it! Is that clear? “ |
| Prepare For “Onslaught Of Winter Storms” In Coming Days  ÂPrepare For “Onslaught Of Winter Storms” In Coming Days   The Weather Channel reports “an active week” is forecasted with “multiple rounds of snow, ice in the Midwest and East as bitterly cold temperatures grip parts of the nation.”Â
Along with multiple storms forecasted from coast to coast, there will also be a “prolonged arctic outbreak gripping parts of the Plains, Midwest and will spread into parts of the Northeast, Northwest, and South later this week. |
| Only 20% Of Recent Shorts Have Been ReestablishedOnly 20% Of Recent Shorts Have Been Reestablished As markets rallied back the past six days as the turmoil from the reddit short squeeze has faded, hedge fund performance has improved, and exposures have been added. That said, as JPM calculated in an overnight note, the magnitude of active gross additions vs. the prior reductions remains fairly muted for Equity L/S funds across regions. In fact, only 20% or less of last week’s active gross reductions have been added back this week. Furthermore, with bears having been badly burned by the horde of WallStreetBettors (and their various hedge fund accomplices), short additions among the High SI stocks remain fairly muted this week which may explain the outsized performance of Hedge Fund VIP longs in recent days.
Other strategies which generally took off less gross, have added most of it back. That said, gross exposure levels remain a couple % below its YTD high on 1/22, but net exposures globally are now up slightly over the past 2 weeks and up 8% YTD as a result of the short legs lagging according to … |
| KPMG boss apologises for ‘stop moaning’ outburstIn a meeting with members of his consulting team, Bill Michael was told about concerns over pay. |
| Brexit worse than feared, says JD Sports bossChairman Peter Cowgill says the new EU trade deal has meant “double-digit millions” in extra costs. |
| Bitcoin investors: From buying a Bentley to losing it allPeople who have invested in Bitcoin share their stories. |
| Indian steel prices to soften in the near term: AnalystsDomestic hot-rolled coil (HRC) prices rose about 54% during July-December 2020, on the back of a strong recovery in domestic demand and a sharp gain in international steel prices that increased 56%. |
| Bitcoin’s Tesla-driven rally fizzles after prices hit $48,000Bitcoin’s ascent to its latest summit came with big swings that continue to stoke controversy about its outlook. |
| Up 22% in 2 days, this PSU stock in no mood to slow downThe fact that Gujarat Gas recorded a double-digit volume growth despite raising prices shows that it has started commanding pricing power among industrial clients. |
| : U.S. and France flex muscles in South China Sea, raising Beijing’s ireTwo U.S. carrier groups are conducting exercises in the waters disputed by China, raising Beijing’s ire just as France announced one of its attack submarines had sailed through the zone. |
| : Hanesbrands stock soars after plans to exit PPE & European business, focus on Champion brandHanesbrands’ fourth-quarter adjusted earnings and sales beat expectations. |
| Econofact: How to nearly eliminate the tragedy of childhood poverty, while also boosting the economyA social insurance program for children could dramatically reduce child poverty in the U.S., as Social Security has done for elderly poverty. |
Summary of Economic Releases this Week
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