16Feb2021 Open Market Commentary: Wall Street Opened Higher Setting New Historic Records, DOW Up 110 Points, Nasdaq Up 0.3%, Gold Falling Below 1800 At 1792, WTI Crude At 60.01

Here is the current market situation from CNN Money

European markets are mixed. The CAC 40 is higher by 1.45%, while the DAX is leading the FTSE 100 lower. They are down 0.26% and 0.17% respectively.

How Indias Hunger For Oil Could Transform The Middle East

The release of a major report last week by the International Energy Agency (IEA) highlighting that India will make up the biggest share of energy demand growth from now until 2040 – ahead of China comes at just the right time for the U.S.s new strategy to counter Chinas rapidly increasing influence in the Middle East. The details of the IEAs India Energy Outlook 2021 only add further weight to the credibility of the U.S.s attempt to portray India as a viable economic and energy-consuming alternative

The Single Biggest Threat To The Electric Vehicle Boom

2020 ushered in the start of the EV boom, but it could have a frightening aftershock. Were already seeing some of the incredible triple-digit gains in EV companies like Tesla and Workhorse. And this EV wave is only expected to grow bigger in the days ahead under the Biden administration. Just a week after inauguration, President Biden reported he plans to replace the entire government fleet with electric vehicles. Thats up to 643,000 vehicles turning electric on the governments dime. But Toyotas president, Akio Toyoda,

Is Biden Preparing To Ease Restrictions On Venezuelan Oil?

In a surprise move, President Biden has withdrawn U.S. support for a Saudi-led military campaign against Houthi rebels in war-torn Yemen, describing the countrys bitter civil war as a humanitarian and strategic catastrophe. The near decade long civil war, which is a prominent symbol of Riyadh and Teherans proxy conflict for control of the Middle East, has created what the United Nations describes as the worlds worst humanitarian crisis. Saudi Arabias grinding six-year-long offensive against Iran-backed Houthi

Rare Cold Snap Rattles The Heart Of U.S. Shale

The cold spell attacking Texas this week may be boosting oil prices, but its also causing oil refineries to shutter and pipeline operators to restrict their flow. On Monday, President Joe Biden declared an emergency over the brutal weather that hit the Lone Star State, which ultimately resulted in rolling blackouts. Anonymous Bloomberg sources suggest that the losses to U.S. production by day is more than a million barrels. Crude oil production in the Permian Basin alone was estimated at 4.333 million barrels per day, according to the EIAs

US Administration Cancels Gulf Of Mexico March Oil & Gas Lease Sale

The Bureau of Ocean Energy Management (BOEM) has rescinded the Record of Decision for the oil and gas lease Gulf of Mexico planned for March, effectively canceling this auction as part of the Biden Administrations review of new drilling activities on federal land and in offshore waters. The lease sale would have offered 78.2 million acres for a region-wide Gulf of Mexico lease in March 2021, or 14,594 unleased blocks all of the available unleased areas in federal waters of the Gulf of Mexico. However, President Joe Biden directed

Has This Record-Breaking Oil Rally Gone Too Far?

The Covid-19 pandemic has ravaged energy markets and decimated demand. Of the three fossil fuels, coal, natural gas, and oil, demand for the latter was affected most due to its importance for the transportation sector. With grounded airplanes, reduced shipping, and parked cars across the world, the consumption of petroleum products decreased significantly in 2020. As demand recovers and oil prices rise at the beginning of this year, markets are increasingly concerned that the OPEC+ agreement that has provided moderate stability, could be about

CVS Health earnings top estimates as pharmacy sales get a lift from Covid testing, vaccines

CVS Health’s fourth-quarter earnings beat Wall Street’s expectations as its pharmacy sales got a lift from providing Covid-19 testing and vaccines.

EV charging to solar panels: How connected tech is changing the homes we live in

Solar panels and home-based electric vehicle chargers could become common sights in the years ahead.

‘Silence of the Lambs’ turns 30: How the horror masterpiece is still gripping Hollywood

“Silence of the Lambs” was a low-budget sleeper hit that gained widespread critical acclaim and box office success. The film has had a lasting impact on Hollywood.

Cement giants turn to green hydrogen and carbon capture in efforts to curb emissions

Cement production is an energy intensive process responsible for a significant amount of emissions.

Private spaceflight specialist Axiom Space raises $130 million, becoming the latest space unicorn

Houston-based Axiom Space is going full tilt into scaling production of private space stations, announcing $130 million in a new round of funding on Tuesday.

Marriott says CEO Arne Sorenson died after battle with cancer

Marriott International announced Tuesday the death of its CEO Arne Sorenson, who had been undergoing treatment for pancreatic cancer.

Energy prices jump as millions left without power in Texas

Energy prices spiked on Tuesday as severe weather hit Texas

5 things to know before the stock market opens Tuesday

U.S. stock futures rose Tuesday, adding to Friday’s record closes for the Dow, S&P 500 and Nasdaq.

A tidal turbine built in Scotland is now producing power in Japan

The tech has been installed in waters off Naru Island, which is part of the larger Goto Island chain.Â

Covid vaccine rollout gives CVS, Walgreens a chance to bring health care to communities of color

The vaccine rollout will test CVS and Walgreens’ commitment to expanding health-care access in Black and Hispanic communities.

Why one big Wall Street banker is betting flying taxis will replace helicopters

Electric aircraft maker Archer Air has a deal with United Airlines and plans to be flying by 2024. Wall Street’s Ken Moelis says it can replace helicopters.

GM unveils all-electric Chevy Bolt EUV and redesigned, less-expensive Bolt EV

General Motors unveiled a new Chevy Bolt Electric Utility Vehicle, or EUV, alongside its newly redesigned Chevy Bolt Electric Vehicle on Sunday evening.

India is set to become a vital Covid vaccine maker ” perhaps second only to the U.S.

Even before Covid-19, India produced up to about 60% of the world’s vaccines and can do so at a relatively low cost.

1.25% 10Y Yields: Now What?

1.25% 10Y Yields: Now What?

By Ian Lyngen of BMO Capital Markets

10-year yields broke through 1.25% during the overnight session on what can best be described as pressing a crowded trade. We’re certainly onboard with a challenge of 1.25% and 1.273% (March 19th peak) beyond there, if for no other reason than late-Friday’s selloff has created more questions than answers ” suggesting the underlying momentum evident during the overnight session must run its course before any retracement is in the offing.

Moreover, the lack of an immediate bearish trigger also implies the recent bout of weakness has taken on a different character than had the march toward higher yields been accompanied by a fundamental data event or an influx of Treasury supply. In fact, the relatively smooth takedown of the February refunding left investors with the impression the supply concession in place prior to the auctions themselves would be sufficient. It’s the reemergence of the bearish trend in the absence of an identifiable catalyst that makes the selloff particularly notable.

Given the fa …

MicroStrategy Is Selling $600 Million In Bonds To “Acquire Additional Bitcoins”

MicroStrategy Is Selling $600 Million In Bonds To “Acquire Additional Bitcoins”

With Bitcoin surpassing $50,000 for the first time this morning, Business intelligence and mobile software firm MicroStrategy has announced it intends to sell bonds and use the net proceeds to “acquire additional bitcoins.”

In the last few weeks, MicroStrategy has been adding more bitcoin to its reserves (here and here most recently), and today unveiled plans to offer $600 million of convertible senior notes due 2027 in a private offering to institutional buyers.

The notes will be unsecured, senior obligations of MicroStrategy and will bear interest payable semi-annually in arrears on February 15 and August 15 of each year, beginning on August 15, 2021.

The notes will mature on February 15, 2027, unless earlier repurchased, redeemed or converted in accordance with their terms. Subject to certain conditions, on or after February 20, 2024, MicroStrategy may redeem for cash all or a portion of the notes. The notes will be convertible into cash, shares of MicroStrategy’s class A common stock, or a combination of cash and shares of MicroStrategy’s class A common stock, at MicroStrategy’s election. Prior to August 15, 2026, the notes will be convertible only upon the occurrence of certain events and during certain periods, and thereafter, at any time until the second scheduled trading day immediately preceding the maturity date. T …

Aim Of Impeachment Was To Paint All Trump Voters As Criminals: Rep. Mike Johnson

Aim Of Impeachment Was To Paint All Trump Voters As Criminals: Rep. Mike Johnson

Authored by Tom Ozimek via The Epoch Times (emphasis ours)

Rep. Mike Johnson (R-La.) says Democrats used the impeachment of former President Donald Trump as a tool to paint all of his supporters with the brush of Capitol breach-related criminality.

Johnson told Breitbart News in an interview on Feb. 14 that the ultimate aim of impeaching Trump a second time was to associate the 75 million Americans who voted for him with those individuals who on Jan. 6 broke the law.

œThey really wanted to use impeachment as a vehicle because they wanted to equate all those tens of millions of Trump’s voters and all of his supporters and everybody who came to the rally, they wanted to equate all of those people with the couple hundred criminals who came in and ransacked the Capitol, Johnson told the outlet.

4 Million Texans Without Power Amid Grid Collapse, As Second Storm Nears

4 Million Texans Without Power Amid Grid Collapse, As Second Storm Nears

Update ( 0854 ET): Texas power grid operator ERCOT, which represents 90% of the state’s electric load, tweeted Tuesday morning that “generators to return, renewable output to increase = increased customer restoration.”Â

Bloomberg published a headline that said the grid operator expects all power to be back on Tuesday evening.Â

“It’s a function of how many generations we are able to get back on line, especially gas and coal,” Dan Woodfin, a senior director for the ERCOT, said in an interview. “It could be as early as early afternoon today. But then it is also possible it could go into the evening hours tonight.”

However, Bloomberg’s Javier Blas said the grid is “still short of at least 18.5 GW.” He said that equates to outages for at least 3 million homes.Â

ERCOT confirms what I was calculating earlier: the grid is still short of at least 18.5 GW. That’s a staggering number, which equals probably to ~3 million homes, at the very least. This is ~36 hours into the rolling blackouts | #texaspoweroutage https://t.co/gnvMCNOuOB

” Javier Blas (@JavierBlas) February 16, 2021

450,000 families ‘behind on rent because of Covid’

One in 20 private renters say they have been refused rent reductions, a report says.

Asda: How to buy a £6.8bn supermarket for £780m

Asda has new owners – but they are borrowing £4bn to finance the deal. Will the debt burden be too great?

Covid: Rapid tests could help reopen nightclubs, PM suggests

Boris Johnson suggests testing clubbers and theatregoers to reopen venues that have been closed since March.

Government rakes in Rs 310 crore from EIL buyback

The total buyback size was Rs 587 crore, which was fully subscribed. EIL’s board had approved buyback in December last year.

Bitcoin’s ebbing correlations with stocks and gold boosting its diversification benefits

The 90-day correlation of the S&P 500 index and Bitcoin has dropped to about 0.21 from a recent peak above 0.50 in October. A comparable measure for the token and bullion is near the lowest in about a year.

Going all-in? Investors’ cash levels dip to 2013 pre-taper-tantrum levels

World stocks have been notching successive record highs in 2021, with central banks remaining supportive and governments injecting money into the system to get economies up to speed after the damage caused by COVID-19.

The Moneyist: My wealthy fiancà e wants me to accept ‘standard-of-living’ costs should we divorce. I’m a proud veteran and won’t accept more than $50,000. Who’s right?

‘I have worked very hard for everything I have. I take pride in the fact that I’ve overcome a lot of adversity to be where I am now, and I’m happy with my finances.’

London Markets: Dividend party from commodities giants Glencore and BHP adds strength to London stock market

Positive earnings and big dividend payments have investors cheering on mining and metals titans Glencore and BHP, giving strength to the London market on an otherwise subdued day of European stock trading.

: Australian Open qualifier Aslan Karatsev made $850,000 today ” more than he’s earned his entire career

Karatsev is the first man in the Open Era to get to the semifinals of his first Grand Slam main draw appearance