28Dec2021 Market Close & Major Financial Headlines: Traders Sour Somewhat On The Santa Claus Rally

Oil Set To End The Year On A Bullish Note

The oil markets are poised to end 2021 on a relatively high note, as concerns of Omicron impacting global demand in the same way that Delta did turned out to be overblown. Chart of the Week- Global tanker markets are expected to see an upswing from the past two years volatile rise as demand stabilizes, however shippers profitability will be far from ideal.- Despite container freight indexes quintupling this year, tanker freights has been essentially stagnant for the past 18 months, pressured by high bunker prices and surplus tankers.-

Read more at: https://oilprice.com/Energy/Energy-General/Oil-Set-To-End-The-Year-On-A-Bullish-Note.html

2022 Will Be A Pivotal Year For Mining

The international mining industry is facing arguably its most important decade as the world starts the transition from fossil fuels to renewable energy, the CEO of the International Council on Mining and Metals (ICMM), Rohitesh Dhawan, said in an interview earlier this month. Dhawan emphasized that mining will be at the very center of this transition because of the burgeoning demand for metals used in solar and wind power, and in the batteries needed to drive electric vehicles. On the back of his confirmed participation at the Future

Read more at: https://oilprice.com/Metals/Commodities/2022-Will-Be-A-Pivotal-Year-For-Mining.html

Global Steel Prices Are Cooling Off As Production Declines

Steel prices continue to cool heading toward the years end, MetalMiner Insights data indicate; meanwhile, global crude steel production continued to decline in November; and, finally, the U.S. exported more petroleum and crude oil products than it imported in the first half of 2021. Steel prices cool to close the year U.S. steel prices remain elevated compared with historical levels. However, steel prices have begun to cool over the last couple of months in 2021, MetalMiner Insights data indicate. U.S. cold-rolled coil closed last week at

Read more at: https://oilprice.com/Latest-Energy-News/World-News/Global-Steel-Prices-Are-Cooling-Off-As-Production-Declines.html

U.S. Gasoline Prices Haven’t Peaked Just Yet

U.S. gas prices could rise to almost $3.80 per gallon before peaking, according to new data from GasBuddy reported exclusively by CNN. According to the forecast data, the national average would rise to $3.41 per gallon in 2022, up from this year’s average of $3.02 per gallon. The peak could come in May 2022, at $3.79 per gallon. That’s considerably higher than what the federal government projects for prices at the pump. Earlier this month, the Energy Information Administration forecast in its Short-Term Energy Outlook that the average retail price

Read more at: https://oilprice.com/Energy/Energy-General/US-Gasoline-Prices-Havent-Peaked-Just-Yet.html

U.S. Natural Gas Rise As Colder Weather Rushes In

U.S. natural gas futures rose this week as colder weather with snow came into parts of the country. Although substantially lower than Asian or European gas prices, U.S. January futures for natural gas rose by 1.7 percent earlier today, to $4.127 per million British thermal units, according to Bloomberg. A day earlier, the contract gained 8.8 percent in the steepest one-day rise since October, again because of the weather forecast. The Wall Street Journal recalls the Monday jump in prices followed four weeks of declines. According to the Weather

Read more at: https://oilprice.com/Latest-Energy-News/World-News/US-Natural-Gas-Rise-As-Colder-Weather-Rushes-In.html

EU Natural Gas Prices Tumble For Fifth Straight Day

A flotilla of U.S. liquefied natural gas carriers heading for Europe has brought relief to European gas buyers, pushing gas prices considerably lower. According to Bloomberg data, cited by Russias Sputnik, LNG cargos traveling from the U.S. to Europe rose by a third over the Christmas weekend. 20 tankers with U.S. LNG are traveling to Europe, and another 14 are headed in the same general direction awaiting further orders as desperate Europe became willing to pay a higher premium than buyers in Asia amid a persistent gas crunch that has seen

Read more at: https://oilprice.com/Energy/Natural-Gas/EU-Natural-Gas-Prices-Tumble-For-Fifth-Straight-Day.html

The lines between beer, soda and spirits are blurring as beverage companies seek sales growth

In the hunt for growth, beverage companies are experimenting in new categories, blurring the lines between beer, soft drinks and spirits.

Read more at: https://www.cnbc.com/2021/12/28/why-the-lines-between-beer-soda-and-spirits-are-blurring.html

Nebraska omicron cluster suggests faster symptom onset compared to past Covid variants

The CDC released findings from an investigation into six omicron cases confirmed in November from a single household in Nebraska.

Read more at: https://www.cnbc.com/2021/12/28/nebraska-omicron-cluster-suggests-faster-symptom-onset-compared-to-past-covid-variants.html

More employers put 401(k) savings on autopilot

About 62% of employers with a 401(k) plan use automatic enrollment and other features to boost workers’ nest eggs.

Read more at: https://www.cnbc.com/2021/12/28/more-employers-use-401k-automatic-enrollment.html

Omicron infection appears to protect against Covid delta variant and could displace it, South Africa study finds

If omicron also proves less severe than delta, Covid infections could prove less disruptive to society, according to South African scientists.

Read more at: https://www.cnbc.com/2021/12/28/covid-omicron-appears-to-protect-against-delta-could-displace-it-study.html

Why the Pentagon failed another audit

The Pentagon is finally being audited, but what will it take for the Defense Department to actually pass?

Read more at: https://www.cnbc.com/2021/12/28/why-the-pentagon-failed-another-audit.html

Wealthy investors want to own a little less of the everything bubble in 2022

Millionaire investors surveyed by CNBC say there isn’t a single asset class where they are planning to increase portfolio exposure in 2022.

Read more at: https://www.cnbc.com/2021/12/28/millionaires-want-to-own-a-little-less-of-everything-bubble-next-year.html

Fauci says U.S. should consider vaccine mandate for domestic air travel, but doesn’t expect it for now

The nation’s top infectious disease expert said in an interview on MSNBC that such a requirement should be “seriously” considered.

Read more at: https://www.cnbc.com/2021/12/27/fauci-says-us-should-consider-vaccine-mandate-for-domestic-air-travel.html

Disney’s Bob Iger on how to tell successful stories in the tech-dominated era

Bob Iger’s big deals at Disney included Pixar, Marvel, Lucasfilm and Fox, and they were as much about building scale as great storytelling.

Read more at: https://www.cnbc.com/2021/12/27/disneys-bob-iger-on-how-to-create-a-success-story-in-the-tech-era.html

Stocks making the biggest moves premarket: Apple, Vipshop, Coinbase and others

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

Read more at: https://www.cnbc.com/2021/12/28/stocks-making-the-biggest-moves-premarket-apple-vipshop-coinbase-and-others-.html

Biden says Covid surge needs to be solved at state level, vows full federal support

Biden pledged to support governors struggling with Covid-19, but said the administration needs states to step up to solve the crisis.

Read more at: https://www.cnbc.com/2021/12/27/biden-says-covid-surge-needs-to-be-solved-at-state-level-vows-full-federal-support.html

What Disney’s Bob Iger thinks about the future of the movie theater experience

Bob Iger, outgoing Disney chairman and former CEO, isn’t giving up on movie theaters as an experience of the future.

Read more at: https://www.cnbc.com/2021/12/27/what-disneys-bob-iger-thinks-about-the-future-of-movie-theaters.html

Holiday sales jumped 8.5%, Mastercard says, as shoppers shrug off higher prices

The company, which tracks all forms of payment, said a surge of Covid-19 cases did not damp demand to spend and celebrate.

Read more at: https://www.cnbc.com/2021/12/27/holiday-sales-jumped-8point5percent-as-shoppers-shrugged-off-higher-prices.html

The robot work force isn’t coming. It’s already here

Retailers and restaurants are looking to robots and other technology to keep up with demand amid a labor crunch and booming online sales.

Read more at: https://www.cnbc.com/2021/12/27/the-robot-work-force-isnt-coming-its-already-here-.html

Starlink Satellites Almost Hit Chinese Space Station

Starlink Satellites Almost Hit Chinese Space StationOn Tuesday, Foreign Ministry spokesman Zhao Lijian told reporters that the U.S. had conducted irresponsible behavior in outer space after two satellites operated by Elon Musk’s SpaceX nearly collided with Tiangong, China’s new space station, according to Bloomberg.

Lijian said Beijing sent a letter to the United Nations about Tiangong’s near misses with SpaceX satellites on Jul. 1 and Oct. 29. Beijing spoke with U.N. Secretary-General Antonio Guterres on Dec. 3 about both incidents and how the U.S. wasn’t abiding by its obligations under the Outer Space Treaty.

“The U.S., while talking about the concept of responsible outer space behavior, is in practice ignoring its obligations under the treaty,” Lijian said.

According to the letter submitted to the UN, Tiangong had to maneuver multiple times to avoid colliding with Starlink satellites. The letter said the incidents “constituted dangers to the life or health of astronauts aboard the China Space Station.”

Read more at: https://www.zerohedge.com/geopolitical/starlink-satellites-almost-hit-chinese-space-station

‘Bidenflation’ Is Systematically Destroying The Middle Class

‘Bidenflation’ Is Systematically Destroying The Middle ClassAuthored by Michael Snyder via The Economic Collapse blog,

Americans have more money in their pockets than they ever have before.  That sounds like really great news, but it isn’t, because the cost of living is rising much faster than our incomes are.  In addition, much of the “new wealth” that has been created over the past couple of years has ended up in the hands of the very wealthy, and this has caused the gap between the rich and the poor to grow even wider.  As for the middle class, it is being systematically hollowed out by “Bidenflation”, and that process is only going to accelerate during the early stages of 2022.

Personally, I don’t like to use the term “Bidenflation” too much, because it is not entirely accurate.  Without a doubt, the Biden administration has taken actions over and over again that have made the inflation crisis even w …

Read more at: https://www.zerohedge.com/personal-finance/bidenflation-systematically-destroying-middle-class

Record Snowfall Blankets West Coast

Record Snowfall Blankets West CoastClimate change warrior Greta Thunberg must be speechless or at least ignoring the “science” as the University of California, Berkeley’s Sierra Snow Laboratory reported the snowiest December on record.

UC Berkeley’s snow lab, located near Donner Pass in the northern Sierra Nevada, recorded the snowiest December at 193.7 inches – over 16 feet, smashing the old December record of 179 inches set back in 1970.

NEW DECEMBER RECORD: 193.7″

With a 24 hour official #snow total of 38.9″ at the lab, we have smashed the previous record of 179″ of snow in December set in 1970!

Snow rates are still heavy and we could even break the 200″ mark today!#CAwx #CAwater pic.twitter.com/x9g6fRuzHQ

— UC Berkeley Central Sierra Snow Lab (@UCB_CSSL) December 27, 2021

As much as 10 feet of snow has fallen in parts of the Sierra Nevada since last Wednesday.

Read more at: https://www.zerohedge.com/weather/record-snowfall-blankets-uc-berkeleys-sierra-snow-lab

COVID Lockdowns Will Be Remembered As One Of The Greatest Policy Failures Ever

COVID Lockdowns Will Be Remembered As One Of The Greatest Policy Failures EverAuthored by Robert Fellner via The Mises Institute,

Lockdowns were one of the “greatest peacetime policy disasters of all time,” concludes Professor Douglas Allen in a paper just published by the International Journal of the Economics of Business.

Elsewhere, a team of researchers with the National Bureau of Economic Research “failed to find” any evidence that lockdowns led to a reduction in the covid death rate. In fact, the researchers—who examined data from forty-three countries and all US states—found that lockdowns were positively correlated with a higher total death rate. That preventing people from engaging in work, school, and socialization would cause widespread suffering is hardly surprising. Sadl …

Read more at: https://www.zerohedge.com/covid-19/covid-lockdowns-will-be-remembered-one-greatest-policy-failures-ever

Covid: Enjoy new year but be cautious, care minister says

Gillian Keegan’s comments come as England reports another record 117,093 Covid cases.

Read more at: https://www.bbc.co.uk/news/uk-59810878?at_medium=RSS&at_campaign=KARANGA

Elon Musk criticised after China space complaint to UN

The SpaceX boss is attacked on Chinese social media after the complaint was made public.

Read more at: https://www.bbc.co.uk/news/business-59806499?at_medium=RSS&at_campaign=KARANGA

Shoppers shun Christmas sales as footfall drops amid Covid fears

New data reveals a 32% decline in footfall compared with 2019, with central London badly affected.

Read more at: https://www.bbc.co.uk/news/business-59802144?at_medium=RSS&at_campaign=KARANGA

Inflation period opens a window to make some promising bets

Commodity plays, metals & mining, industrial goods and banking could benefit as the cycle picks up in the forthcoming quarters.

Read more at: https://economictimes.indiatimes.com/markets/stocks/news/inflation-period-opens-a-window-to-make-some-promising-bets/articleshow/88547441.cms

MFs can’t make crypto-related investments before law, says Sebi chief

The regulator’s comment comes after Invesco Mutual Fund withdrew the launch of its Blockchain fund that aimed to invest in companies that are part of the blockchain ecosystem. The fund of fund was set to provide Indian investors a route for investing in such new-age companies listed abroad.

Read more at: https://economictimes.indiatimes.com/markets/cryptocurrency/mfs-cant-make-crypto-related-investments-before-law-says-sebi-chief/articleshow/88546690.cms

Elections & Markets 2022: With UP, other state elections ahead, will we see populist Budget this time?

Ajit Mishra, VP- Research of Religare Broking, said he expected a growth-oriented Budget given that the economy was still in a recovering stage. “However, given the tight fiscal space, we do not expect any major populist measures,” he said.

Read more at: https://economictimes.indiatimes.com/markets/stocks/news/elections-markets-2022-with-up-other-state-elections-ahead-will-we-see-populist-budget-this-time/articleshow/88537424.cms

Futures Movers: U.S. oil books 5th day of gains but finishes off session’s high

U.S. crude oil futures Tuesday clinch a fifth straight gain, but finish off the highs of the session.

Read more at: http://www.marketwatch.com/news/story.asp?guid=%7B20C05575-04D4-B545-781F-806E0C3902C6%7D&siteid=rss&rss=1

Market Snapshot: S&P 500 struggles for direction, Dow holds gain as U.S. stocks trade mixed Tuesday afternoon

U.S. stock indexes mostly edge lower Tuesday afternoon, after a four day rally, as some investors looked toward 2022 with optimism, despite record COVID-19 cases resulting from the spread of the omicron variant.

Read more at: http://www.marketwatch.com/news/story.asp?guid=%7B20C05575-04D4-B545-781F-28069C9F60B9%7D&siteid=rss&rss=1

Economic Report: High inflation harkens back to the 1980s. Here is what’s similar – and different

The yearly rate of U.S. inflation — measured by the consumer price index — climbed to 6.8% as of November to mark the sharpest increase in prices in 39 years. A lot has changed in the past 40 years, of course, and Wall Street DJIA economists say comparing the two episodes of high inflation is like night and day.

Read more at: http://www.marketwatch.com/news/story.asp?guid=%7B20C05575-04D4-B545-781D-C90F54EB5D68%7D&siteid=rss&rss=1