07Dec2021 Market Close: Another up day for the Markets

Oil Prices Rise As Fears Of Omicron Lockdowns Subside

Oil prices rose early on Tuesday for the second day in a row, as traders are cautiously optimistic that the new Omicron COVID variant would not lead to massive lockdowns around the world to the point of severely reducing global oil demand. As of 10:00 a.m. EST on Tuesday, WTI Crude was up 2.85% at $71.55 and Brent Crude had gained 2.30% to $74.86. Oil prices had started to rebound on Monday after Saudi Arabia signaled optimism about demand by hiking its official January crude oil selling prices for Asia and the United Statesits biggest

Read more at: https://oilprice.com/Energy/Oil-Prices/Oil-Prices-Rise-As-Fears-Of-Omicron-Lockdowns-Subside.html

Aramco CEO: Rushed Energy Transition Could Spark Social Unrest

A rushed transition into renewable energy would cause spiraling inflation and social unrest, the chief executive of Aramco warned at the World Petroleum Congress in Texas this week, noting that investments in oil and gas needed to continue in order to avoid such a scenario. I understand that publicly admitting that oil and gas will play an essential and significant role during the transition and beyond will be hard for some,Amin Nasser said as quoted by the Financial Times. But admitting this reality will be far easier

Read more at: https://oilprice.com/Energy/Crude-Oil/Aramco-CEO-Rushed-Energy-Transition-Could-Spark-Social-Unrest.html

Why Helium Could Be The Hottest Commodity Play Of 2022

Helium is already 100x more expensive than natural gaseven with skyrocketing oil and gas prices. And the helium land rush is on in full force. Its made easier by the fact that the bulk of helium comes from natural gas fields, and what investors should be paying attention to now is the largest conventional gas field in the United States. This is where we could find the biggest potential beneficiary of a helium shortage that will dictate the future of everything from supercomputing and space travel to MRIs and medical research across

Read more at: https://oilprice.com/Energy/Energy-General/Why-Helium-Could-Be-The-Hottest-Commodity-Play-Of-2022.html

China Could Cause The Next Massive Crash In Oil Prices

Given the extreme disconnect between Chinas huge economy-driven oil and gas needs and its minimal level of domestic oil and gas reserves, the countrys influence over oil prices has long been profound. As a result of this imbalance, China almost alone created the 2000-2014 commodities supercycle, characterized by consistently rising price trends for all commodities that are used in a booming manufacturing and infrastructure environment. This was a product largely of the 8 percent-plus annual GDP growth recorded by China

Read more at: https://oilprice.com/Energy/Energy-General/China-Could-Cause-The-Next-Massive-Crash-In-Oil-Prices.html

The Lithium Extraction Tech That Could Take Tesla To $2 Trillion

In Austin, Texas, Elon Musk is building his Tesla Cybertruck plant And at the same time, Tesla is developing a new technology to supply its huge lithium requirements. This is all part of a move by the EV giant to ensure it has control over its entire supply chain. American lithium is expected to be in high demand for the next century, and Tesla wants to be ahead of the competition. Few investors may know that the US has some of the worlds largest lithium reserves And with supply-chain issues and Chinas emergence as

Read more at: https://oilprice.com/Energy/Energy-General/The-Lithium-Extraction-Tech-That-Could-Take-Tesla-To-2-Trillion.html

Halliburton: Global Oil Scarcity Is On The Horizon

The lack of investments into the oil industry is steering the world toward scarcity, one of the worlds largest oilfield service providers warned on Monday. A global oil scarcity is on the horizon, the U.S. oilfield service provider said, after seven years of underinvestment after oil prices slide from their $100 heyday in 2014, Bloomberg reported. For the first time in a long time, well see a buyer looking for a barrel of oil as opposed to a barrel of oil looking for a buyer, Haliburtons CEO Jeff Miller cautioned.

Read more at: https://oilprice.com/Latest-Energy-News/World-News/Halliburton-Global-Oil-Scarcity-Is-On-The-Horizon.html

Automaker Stellantis plans to generate $22.5 billion in new software revenue by 2030

Driving the growth will be an increase in the automaker’s connected vehicles from 12 million today to 34 million by then, according to Stellantis.

Read more at: https://www.cnbc.com/2021/12/07/stellantis-plans-to-generate-22point5-billion-in-new-software-revenue-by-2030.html

Cramer says stock market comeback fueled by scramble to get back in after omicron overreaction

The omicron concerns were so severe that “you have this moment where people realize, ‘Wow, we really got oversold. What can I get in?'” CNBC’s Jim Cramer said.

Read more at: https://www.cnbc.com/2021/12/07/cramer-says-stock-market-comeback-fueled-by-scramble-to-get-back-in-after-omicron-overreaction.html

The latest sign of President Biden’s inflation politics problem comes from Main Street

Small business owners are more worried about inflation and President Biden’s approval rating is dropping among entrepreneurs, and not just the Republicans.

Read more at: https://www.cnbc.com/2021/12/07/latest-sign-of-president-bidens-inflation-problem-is-on-main-street.html

Jet founder Marc Lore plots U.S. expansion of food delivery biz: A ‘one-stop shop’ for cooked meals

Marc Lore wants to revolutionize how Americans order meals to their homes.

Read more at: https://www.cnbc.com/2021/12/07/marc-lore-plots-us-expansion-of-wonder-group-food-delivery-biz.html

Here are 5 ways to protect yourself against credit card fraud this holiday season

Whether you do your holiday shopping in a store, online or on an app, it’s important to keep these five tips in mind to protect your credit and your identity.

Read more at: https://www.cnbc.com/2021/12/07/here-are-5-ways-to-avoid-credit-card-fraud-this-holiday-season.html

WHO wades into vaccine mandates dispute, saying they should be an ‘absolute last resort’

The comments come as an increasing number of governments are considering, or planning to introduce, compulsory vaccinations.

Read more at: https://www.cnbc.com/2021/12/07/who-on-vaccine-mandates-they-should-be-a-last-resort.html

5 things to know before the stock market opens Tuesday

The Dow was set to jump again, one day after the 30-stock average surged 646 points.

Read more at: https://www.cnbc.com/2021/12/07/5-things-to-know-before-the-stock-market-opens-tuesday-dec-7.html

The Fed’s interest rate policies can’t fix this inflation. Here’s why.

The Federal Reserve called this inflation transitory because the sources of the supply issues are out of its control.

Read more at: https://www.cnbc.com/2021/12/07/fed-inflation-policies-are-driven-by-wage-growth-not-supply-chain.html

Stocks making the biggest moves premarket: American Airlines, AutoZone, GlaxoSmithKline and others

These are the stocks posting the largest moves before the bell.

Read more at: https://www.cnbc.com/2021/12/07/stocks-making-the-biggest-moves-premarket-american-airlines-autozone-glaxosmithkline-and-others.html

Astranis signs deal to bring satellite internet to 3 million people in Peru by 2023

Astranis, a company with an alternative approach to providing internet access from satellites, announced a deal to bring service to millions of people in Peru.

Read more at: https://www.cnbc.com/2021/12/07/astranis-satellite-internet-deal-for-3-million-people-in-peru-by-2023.html

American Airlines CEO Doug Parker to retire, President Isom to take reins March 31

Parker is the second airline CEO after Southwest’s to announce retirement this year.

Read more at: https://www.cnbc.com/2021/12/07/american-airlines-ceo-doug-parker-to-retire-president-robert-isom-to-take-reins-march-31.html

Biden’s Build Back Better bill may save you up to $900 when buying an e-bike. Here’s how the proposed tax credit works

Increasingly popular electric bicycles may grow even more so thanks to a provision in Democrats’ $1.75 trillion Build Back Better bill.

Read more at: https://www.cnbc.com/2021/12/07/bidens-build-back-better-bill-may-provide-up-to-a-900-e-bike-tax-credit.html

Cramer’s lightning round: Doximity is a buy here

“Mad Money” host Jim Cramer rings the lightning round bell, which means he’s giving his answers to callers’ stock questions at rapid speed.

Read more at: https://www.cnbc.com/2021/12/06/cramers-lightning-round-doximity-is-a-buy-here.html

Don’t Forget The X-Date

Don’t Forget The X-DateBy Philip Marey, Rabobank US strategist

Stock markets rebounded yesterday, as the fear of the Omicron variant subsided somewhat. The S&P500 gained 1.2% and the Euro Stoxx 50 rose by 1.4%. This morning, Asia-Pacific stock markets are mostly up. Meanwhile, the 10 year US treasury yield has rebounded to 1.45% after reaching a trough at 1.33% on Friday.

Meanwhile, we could be only a week from the X-date, the date at which the US federal government may no longer be able to pay its bills. Remember that the debt limit was raised to $28.88 trillion in October, after the Republicans blinked. As we explained in Biden’s Game of Chicken, the Democrats want to share responsibility for raising the debt ceiling with the Republicans. Although the Democrats can still easily raise the debt ceiling through budget reconciliation, they do not want the electoral vulnerability that comes with a unilateral increase in the debt limit. Instead of calling the Democrats’ bluff, Senate Minority Leader McConnell blinked in October and delivered the Republican votes for a temporary increase in the debt ceiling. While he claimed this was a one time deal, the Democrats are still counting on him to blink again. The raise in October has only delayed the X-date. According to the Treasury’s most recent estimate, the extraordinary measures to prevent a default could be exhausted as soon as by December 15.

But first the Democrats are trying to attach the debt limit to the National Defense Authorization Act (NDAA), which sets prioritie …

Read more at: https://www.zerohedge.com/markets/dont-forget-x-date

Quid iPhone Pro Quo: Apple Signed Secret $275 Billion Deal With Chinese Government

Quid iPhone Pro Quo: Apple Signed Secret $275 Billion Deal With Chinese GovernmentInvestors and journalists have been openly questioning whether Apple CEO Tim Cook, once praised for his deep-rooted connections within the CCP, has allowed his relationships in China to sour as the US has stepped up criticisms over human rights – treatment of the Uyghers in Xinjiang and elsewhere – and Taiwan. These ties have grown intensely controversial, eliciting criticism from lawmakers, rivals and even the company’s own employees.

And just as the SEC prepares to boot dozens of Chinese companies off of US stock exchanges for refusing to comply with US audit standards (something the CCP has expressly forbidden under the auspices of data privacy), reporters with the Information have just published a bombshell: At some point in the not-too-distant past, Cook struck a $275 billion deal with the Chinese government while facing pressure from the CCP.

The deal emerged after a series of meetin …

Read more at: https://www.zerohedge.com/technology/apple-signed-secret-275-billion-deal-chinese-government

Cathie Wood Readies Her 9th ETF For Launch This Week, Despite ARKK’s Recent Plunge

Cathie Wood Readies Her 9th ETF For Launch This Week, Despite ARKK’s Recent PlungeWhile the wheels are in the midst of coming off of her “flagship” ARKK Innovation Fund, Cathie Wood is apparently readying her latest new venture for launch: yet another fund.

Wood is working on launching the ARK Transparency ETF (ticker CTRU), which will launch Wednesday of this week and mark Wood’s 9th ETF and the third to track an index, according to Yahoo.

The launch comes while Wood’s flagship fund, as many have pointed out, is falling behind major index benchmarks at a dizzying rate, despite the success of Tesla over the last year.

ARKK just had its worst week since February, according to Yahoo, falling about 12% in the last 5 trading days.

CTRU has set the goal of tapping into investor appetite for ESG investments. The fund will follow an index that excludes alcohol, banking, gambling and oil and gas, the report said.

Todd Rosenbluth, head of ETF and mutual fund research at CFRA said of the new launch: “Sentiment toward ARK has started to shift as thematic funds like ARKK and siblings have struggled to repeat its performance success in 2021. We expect the ETF to still garner some interest as ARK still has a strong ETF brand and it provides exposure to a new approach that could complement ARKK.”

Read more at: https://www.zerohedge.com/markets/cathie-wood-readies-her-9th-etf-launch-week-despite-arkks-recent-plunge

Energy Experts Dismiss Liz Warren’s Complaints: “It’s Econ 101, Not Rocket Science”

Energy Experts Dismiss Liz Warren’s Complaints: “It’s Econ 101, Not Rocket Science”By Chris Woodward of Delaware Valley Journal

Sen. Elizabeth Warren’s latest attempt to “turn up the heat” on the energy sector sparked a backlash from industry leaders who say the real problem comes from policies the Massachusetts’ Democrat has endorsed.

In recent letters to natural gas producers, Warren blasted what she called their “corporate greed” and demanded an explanation for the record exports of natural gas at the same time prices are rising in the U.S.

Warren wants the industry to respond to questions about “the extent to which these price increases are being driven by energy companies’ corporate greed and profiteering as they moved record amounts of U.S. gas out of the country,” she wrote.

She got a response, but not the one she demanded.

Leaders in the natural gas sector responded with a letter of their own, dismissing Warren’s comments as a diversion, one intended to distract consumers from the impact of the energy policies she’s championed.

“This a misguided and headline-grabbing ploy,” says David E. Callahan, president of the Marcellus Shale Coalition (MSC).

“If she knows anything about these highly complex energy markets, she must know what’s really going on here,” added Callahan, who co-authored a response letter alongside the leaders of the Gas & Oil Association of West Virginia (GO-WV), and Ohio Oil & Gas Association (OOGA).

“It’s a …

Read more at: https://www.zerohedge.com/energy/energy-experts-dismiss-liz-warrens-complaints-its-econ-101-not-rocket-science

Super-rich increase their share of world’s income

A major report on wealth and inequality says 2020 saw the steepest rise in billionaires’ wealth on record.

Read more at: https://www.bbc.co.uk/news/business-59565690?at_medium=RSS&at_campaign=KARANGA

Covid testing: New PCR rules throw plans into disarray

Travellers explain how their plans have been disrupted by the new rules for people arriving in the UK.

Read more at: https://www.bbc.co.uk/news/business-59517823?at_medium=RSS&at_campaign=KARANGA

House price growth highest for 15 years, says Halifax

However, the pace is unlikely to be maintained as household budgets are squeezed, the lender says.

Read more at: https://www.bbc.co.uk/news/business-59560878?at_medium=RSS&at_campaign=KARANGA

Tech view: Nifty50 likely making triangular formation; expect consolidation for few days

The index opened with gains at 17,044.10 and extended the lead to as high as 17,210.65 before a minor sell-off began. Eventually, it settled at 17,156.10, up 244 points against its previous close.

Read more at: https://economictimes.indiatimes.com/markets/stocks/news/tech-view-nifty50-likely-making-triangular-formation-expect-consolidation-for-few-days/articleshow/88145606.cms

Recent IPOs only filled investors’ coffers, did little to dent corporate debt: Report

The agency has analysed the top 25 corporates who came out with IPOs during FY18-FY20 and found that the total debt amount (long-term and short-term) of the corporates has not necessarily come down after public offers.

Read more at: https://economictimes.indiatimes.com/markets/ipos/fpos/recent-ipos-only-filled-investors-coffers-did-little-to-dent-corporate-debt-report/articleshow/88141193.cms

Market Movers: What’s driving investors to NALCO, Hindalco’s counters?

Mines ministry has recommended a hike in customs duty for primary aluminium and an increase in import duty on downstream aluminium that will benefit both NALCO and Hindalco Industries. Further, the ministry has recommended correcting the inverted duty structure for aluminium companies.

Read more at: https://economictimes.indiatimes.com/markets/stocks/news/market-movers-whats-driving-investors-to-nalco-hindalcos-counters/articleshow/88146731.cms

Coronavirus Update: Vir, GSK’s COVID-19 antibody treatment works against omicron in a lab study, and WHO no longer recommends convalescent plasma

Vir Biotechnology and GlaxoSmithKline’s COVID-19 antibody treatment worked against omicron in a laboratory study.

Read more at: http://www.marketwatch.com/news/story.asp?guid=%7B20C05575-04D4-B545-77CE-8A9CDBD5C83A%7D&siteid=rss&rss=1

: Medicare open enrollment ends today: Here’s what to know

The enrollment period is between Oct. 15 and Dec. 7

Read more at: http://www.marketwatch.com/news/story.asp?guid=%7B20C05575-04D4-B545-76CF-4C07265BE7CC%7D&siteid=rss&rss=1

Retire Better: Seniors beware: The FBI says these are the 10 biggest online scam

How to protect yourself, and where to get help if you fall victim to one of these schemes

Read more at: http://www.marketwatch.com/news/story.asp?guid=%7B20C05575-04D4-B545-77CE-B9692CE41E17%7D&siteid=rss&rss=1