Written by Gary
Virgin Galactic shares drop as company delays upcoming spaceflight test (SPY -0.2%).
Here is the current market situation from CNN Money | |
European markets are mixed. The FTSE 100 is higher by 0.14%, while the DAX is leading the CAC 40 lower. They are down 0.35% and 0.02% respectively. |
What Is Moving the Markets
Here are the headlines moving the markets. | |
The Most Overlooked Energy Source On EarthAbout a month ago, a report by clean energy watchdog Bloomberg New Energy Finance (BNEF) confirmed that the renewable energy sector has remained the most resilient to the ravages of Covid-19, with global energy transition investments in 2020 clocking in at a record $501.3 billion, good for 9% Y/Y growth. As expected, solar, wind power, and EVs commanded the lions share of clean energy investments, while investments in hydrogen tech and carbon capture and storage (CCS) managed to reach a combined $4.5B. Unfortunately, one renewable energy | |
Bidens Clean Energy Revolution Could Send These Stocks SoaringTheres no denying that last year was an incredible year for electric vehicle stocks.Elon Musk briefly took the crown of the richest man in the world thanks to Teslas shocking 750% climbWhile a Chinese competitor, Nio Inc., rose by a remarkable 1295% over the same amount of time. While those who didnt buy in on these two giants while they were cheap may feel that theyve missed the rally…that couldnt be further from the truth. The story is much larger, and there are other EV and EV-related stocks | |
Flying Taxis To Hit The Skies In 2024Remember the grubby flying taxi Bruce Willis drove in “The Fifth Element”? That was a very 90s view of the future. In reality, we may soon be taking up to 60-mile rides in sleek, elegant, and perhaps most importantly, emission-free electric planes. Media reported this week a California-based startup called Archer was going public through a deal with a special-purpose acquisition company. SPAC deals are becoming increasingly popular, especially in the electric vehicle area, as a much quicker way to raise money on the stock market than traditional | |
US Sells Seized Iranian Fuel As It Looks To Detain Another Oil TankerThe United States has completed the sale of 1.116 million barrels of gasoline that Iran tried to ship to Venezuela last year, U.S. Department of Justice spokesman Marc Raimondi told Reuters, while the Administration is looking to detain another tanker it believes is part of an Iranian scheme to covertly ship Iranian oil to a foreign customer. In August last year, the U.S. Administration said it had seized the fuel cargo of four vessels, alleging that the fuel came from Iran and was going to Venezuela. The U.S. Department of Justiceannouncedat | |
Boring Car Stocks Have Suddenly Become Wall Street FavoritesIts a rare year when boring and stodgy sectors such as automotive garner more investor interest than more trendy sectors such as Big Tech and even biotech. Turns out this is one of those rare years. Stocks of traditional automakers have hit the ground running in the new year, easily outperforming the broader market and even their sexier EV brethren. Stocks of giant Detroit automakers General Motors (NYSE:GM) and Ford Motor Co. (NYSE:F) have returned 35% apiece in the first six weeks of the new year, outgunning the likes of Tesla Inc. (NASDAQ:TSLA), | |
Argentina Narrowly Avoids Another Oil Industry CrisisCrisis-torn Argentina has managed to avert another disaster in its economically crucial hydrocarbon sector. Many institutional investors are unhappy with Buenos Aires sovereign debt restructuring undertaken last year, which allowed the government of President Alberto Fernndez to end Argentinas ninth debt default. That saw bondholders accept a significant reduction of income payments, collectively losing almost $40 billion between 2020 and 2024. Even after settling that deal, Argentinas public debt is a disconcerting | |
Doctors warn Covid will become endemic and people need to learn to live with itA growing chorus of physicians and public health officials have warned that even with the mass rollout of Covid-19 vaccines, the disease may become endemic. | |
Spirit Airlines is hiring pilots and flight attendants again in hopes of pandemic recoverySpirit plans to resume new pilot and flight attendant training courses next month for the first time since early in the pandemic. | |
Why working from home is good for Williams-SonomaWith its mix of retail stores and a savvy digital presence, Williams-Sonoma has seen positive same-store sales growth from April 2017 through October 2020. | |
Don’t let your side hustle land you in court ” or worse: Hire a lawyerIn an era of gig work and side hustles, experts say too many entrepreneurs are ignoring basic precautions. These tips can help. | |
Virgin Galactic shares drop as company delays upcoming spaceflight testVirgin Galactic shares dropped after the company delayed its next spaceflight test that was scheduled for this weekend. | |
A ‘pop-up’ airport for electric aircraft could transform the way we think about urban travelThe facility will launch later this year, with several major organizations involved in the project. | |
Dr. Scott Gottlieb says vaccine ramp up alone probably won’t be enough to manage UK virus variantTravel restrictions might not make a big difference in the containment of B117, even if the Biden Administration were to impose them, Scott Gottlieb said. | |
White House secures deals for 200 million more Covid vaccine dosesPresident Joe Biden announced that his administration secured deals for 200 million more doses of Covid-19 vaccine, bringing the U.S. total to 600 million. | |
Disney said Covid-related costs shaved $2.6 billion from parks’ operating income in latest quarterDisney said the coronavirus outbreak cost this division around $2.6 billion in lost operating income during the fiscal first-quarter. | |
3M is helping authorities stop scammers from selling counterfeit versions of its N95 masks“We have taken very strong steps around attacking the problems of counterfeiting or price gouging,” 3M’s Mike Vale told CNBC. | |
How CVS and other retailers will dole out any surplus Covid vaccine dosesAs Covid-19 vaccination efforts get underway at major retailers and pharmacies, what to do with excess vaccine becomes a bigger question. | |
General Motors invests $100 million in two U.S. plants to boost transmission productionGeneral Motors said it’s allocating $93 million for its plant in Romulus, Michigan, and $7 million for its plant in Bedford, Indiana. | |
5 things to know before the stock market opens FridayAhead of Friday’s trading, Wall Street was tracking for a second straight positive week, in a continuation of February’s strength. | |
Democrats Caught Using Fake ‘Evidence’ At Impeachment TrialDemocrats Caught Using Fake ‘Evidence’ At Impeachment Trial Authored by Steve Watson via Summit News, Democrats were caught Wednesday using fake evidence during their impeachment clown show, and were forced to withdraw it, proving that they don’t care about the truth, and only about trying to punish President Trump. Impeachment managers led by Rep. Raskin charged that following the Capitol storming on January 6, Trump called Senator Mike Lee by accident when he really meant to speak to Alabama Senator Tommy Tuberville. Impeachment manager David Cicilline said œHe dialed Senator Lee by accident, and Senator Lee describes it that he had just ended a prayer in the Senate chamber. Cicilline then charged that Trump asked Tuberville to œmake further objections to Biden’s election vote count, while Senator Lee œstood by. It soon emerged that then entire claim was bullshit, when Senator Lee … | |
Italian Bond Yields Hit Record Low With Draghi Set To Become New PM As Soon As TodayItalian Bond Yields Hit Record Low With Draghi Set To Become New PM As Soon As Today With almost all political parties behind him, Mario Draghi on Friday entered the final stage of forming a new Italian government, the Local.It reported. The former European Central Bank chief, called in after the outgoing centre-left coalition collapsed, could visit President Sergio Mattarella as early as Friday to be officially named prime minister. Draghi has spent the last nine days garnering support from Italy’s political parties, with the aim of forming a ‘government of national unity’ to manage the deadly pandemic that hit Italy almost exactly one year ago, triggering a deep recession. After securing the support late Thursday of the last key party, the populist Five Star Movement (M5S), Draghi has almost all the main parties on board. “The Draghi government is born,” headlined Rome-based daily Il Messaggero, while the Corriere Della Sera led with “Draghi in the home stretch.” However, the 73-year-old economist has shown he is willing to take his time, and could yet take a few more days to finalise his cabinet. Even if Draghi invites figures from outside politics onto his team, as he is expected to do, he still needs to get the agreement of a majority of lawmakers. He has been negotiating with Italy’s various political parties since last week on a possible deal. Italy has high hopes for Draghi, dubbed Super Mario after vowing to do “whatever it takes” to save the euro single currency in the 2010s debt crisis. Mattarella asked him to step in o … | |
Futures Rebound Sharply From Overnight SlumpFutures Rebound Sharply From Overnight Slump US futures and European markets rebounded from a slump that dragged the Emini as low as 3,890 just ahead of the European open, to trade near session highs as investors await progress towards more U.S. fiscal stimulus, while the dollar was set for a weekly loss despite snapping a five-day losing streak on Friday; Bitcoin hit another record high overnight when it briefly traded above $49,000. Markets in China and most of Southeast Asia were closed for the Lunar New Year. At 7:30 a.m. ET, Dow E-minis were down 27 points, or 0.1%, S&P 500 E-minis were down 7.25 points, or 0.2% and Nasdaq 100 E-minis were down 15.25 points, or 0.11%. The overnight weakness was led by energy names as Chevron, Occidental Petroleum and Exxon all dipped between 0.9% and 1.2% in premarket trading as oil prices retreated on demand fears after Australia announced yet another snap 5-day lockdown. Disney rose 1.2% after the company swung to a surprise quarterly profit as œThe Mandalorian and œSoul lifted its fast-growing streaming business, ou … | |
Millennials Are “Mad As Hell”Millennials Are “Mad As Hell” Authored by David Robertson via RealInvestmentAdvice.com, The Occupy Wall Street movement that emerged in the financial crisis of 2008 was interesting because a general sense of discontent seemed to merge. Also interesting was the lack of consensus as to the causes of dissatisfaction. More recently, the trading mania surrounding Robinhood and Gamestop reflected many of the same dynamics. A broad sense of anger was channeled variously against Wall Street, œsuits,  boomers, short-sellers, and a sundry list of other participants deemed to be bad actors. One thing is clear: Just like in the 1976 movie, œNetwork,  a lot of people are œmad as hell.  That anger is a symptom of a bigger problem, however. Digging into its root causes reveals insights about society and how it can reshape and defuse anger and become more productive. Roots Of Anger … | |
Help to Buy deadline extended amid Covid delaysA deadline to buy a home under the current Help to Buy scheme in England has been extended to the end of May. | |
UK economy suffered record annual slump in 2020The size of the economy shrank by 9.9% in 2020 as coronavirus restrictions hit output, figures show. | |
KPMG boss Bill Michael quits after ‘stop moaning’ rowBill Michael resigns from the audit giant saying he is “truly sorry” his words “caused hurt”. | |
Sobha Q3 results: Net profit slumps 70% to Rs 22 crTotal income fell to Rs 696.3 crore in the third quarter of this financial year from Rs 901.2 crore in the corresponding period of the previous year. | |
Embassy REIT Q3 results: Profit falls 15% to Rs 215 cr; firm to invest Rs 2,300 cr to develop projectsThe net profit fell to Rs 214.79 crore in the third quarter of this fiscal from Rs 253.45 crore in the year-ago period. Total income, however, rose to Rs 595.94 crore from Rs 568.12 crore, according to a regulatory filing. | |
Darknet crypto kingpin JokerStash retires after illicit $1 billion run: ResearchThe “Joker’s Stash” marketplace, where stolen credit cards and identity data traded hands for bitcoin and other digital coins, ceased operations this month, Elliptic said on Friday, in what it called a rare example of such a site bowing out on its own terms. | |
Rail Week Ending 06 February 2021 – Growth Rate Little Changed This WeekWritten by Steven Hansen Week 5 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. | |
Metals Stocks: Gold prices slump as U.S. dollar and yields rise, but metal nurses meager weekly gainFutures for gold on Friday headed lower, but the precious metal was holding on to a slight weekly gain, as investors sold bullion at the end of the week amid a rise in government bond yields and a firming of the U.S. dollar. | |
Key Words: Why stock market is on a ‘highway to the danger zone,’ according to CNBC’s CramerJim Cramer, host of CNBC’s œMad Money, on his show on Wednesday described markets as on uncertain footing to say the least. | |
Market Extra: Is the stock market open on Presidents Day? Here are trading hoursU.S. financial markets will pause Monday in observance of Presidents Day ” which, technically, is not the name of the holiday. |
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