04Jan2022 Market Close & Major Financial Headlines: Wall Street Mostly Down, Toyota dethrones GM, Oil markets look bullish, airlines cancel more flights

Ford Beats Out Tesla As Top Performing Car Stock Of 2021

Ford became the best-performing auto industry stock last year, beating investor favorite Tesla as it doubled down on an all-electric future. 2021 was truly a breakthrough year for Ford easily the most important year strategically for the company since the financial crisis, Morgan Stanley analyst Adam Jonas told CNBC. This year saw soaring orders for the companys Mustang Mach-3 SUV, including an order for 184 of the EVs from several New York City government agencies. The order comes in at $11.5 million, putting the

Read more at: https://oilprice.com/Energy/Energy-General/Ford-Beats-Out-Tesla-As-Top-Performing-Car-Stock-Of-2021.html

Sentiment Shifts In Oil Markets As Demand Fears Fade

Oil markets are looking increasingly bullish as analysts argue that the impact of Omicron on global oil demand will be limited Chart of the Week- Energy companies from the Persian Gulf have borrowed 30.5 billion in 2021, according toBloomberg, the highest level in at least 25 years as regional NOCs seek foreign investment to fund their ambitious plans. – Qatar Energy was the leader amongst all NOCs, selling $12.5 billion of bonds in July 2021 (the biggest emerging-market offering of last year) as part of financing its LNG capacity expansion.-

Read more at: https://oilprice.com/Energy/Energy-General/Sentiment-Shifts-In-Oil-Markets-As-Demand-Fears-Fade.html

EU Law Will Equip New Cars With A Device That Collects Driving Data

Starting this summer, all new cars sold in the EU will by law contain a black box accessible by authorities that records driving data. From July 6, 2022, all car manufacturers will be forced to fit new models with a system that keeps track of technical data. The data recorded will include the vehicles speed, braking, steering wheel angle, its incline on the road, and whether the vehicles various safety systems were in operation, starting with seatbelts. The new system will coincide with the introduction

Read more at: https://oilprice.com/Latest-Energy-News/World-News/EU-Law-Will-Equip-New-Cars-With-A-Device-That-Collects-Driving-Data.html

Latin Americas Populist Wave Is Weighing On Oil Producers

In the wake of the COVID-19 pandemic, populist leftism is again sweeping across Latin America. In August 2021 former school teacher and leftwing politician Pedro Castillo won Perus presidency having campaigned on a platform centered on economic and social reform. A month ago, former radical student activist Gabriel Boric won Chiles presidential election to become the youngest president of what is regarded as Latin Americas most developed country. Boric, throughout his campaign, expressed his contempt for neoliberalism along

Read more at: https://oilprice.com/Geopolitics/South-America/Latin-Americas-Populist-Wave-Is-Weighing-On-Oil-Producers.html

Libyas Oil Production Crashes Down To 780,000 Bpd

Libyas oil production has slumped to 780,000 barrels per day after maintenance work on a pipeline shut down 200,000 bpd output this week, adding to outages due to blockades at four oilfields since the end of December. Libya currently pumps around 780,000 bpd, a source at the National Oil Corporation (NOC) told Argus on Tuesday. To compare, the OPEC member exempted from the production cuts due to its volatile security situation produced 1.14 million bpd of crude oil in November 2021, according to the latest Monthly Oil Market Report (MOMR)

Read more at: https://oilprice.com/Energy/Energy-General/Libyas-Oil-Production-Crashes-Down-To-780000-Bpd.html

China Slashes Fuel Export Quotas By 56%

China has considerably reduced the allowances for fuel exports in the first export quota batch for 2022, signaling its intention to limit fuel sales abroad and curb excessive refinery output. In the first quota distributions for this year, the overall volume of the permitted gasoline, diesel, and jet fuel exports was more than halvedslashed by 56 percent compared to the first batch

Read more at: https://oilprice.com/Latest-Energy-News/World-News/China-Slashes-Fuel-Export-Quotas-By-56.html

Macy’s cuts store hours at all of its stores as Covid cases spike and retailers face new staffing challenges

Macy’s is shortening its store hours for the rest of the month as coronavirus cases spike in the United States and companies grapple with staffing shortages.

Read more at: https://www.cnbc.com/2022/01/04/macys-cuts-store-hours-at-all-of-its-stores-as-covid-cases-spike.html

Biden says more Pfizer pills are shipping this week as U.S. doubles order to fight omicron

With the new order, the U.S. has committed to purchase 20 million courses total from Pfizer.

Read more at: https://www.cnbc.com/2022/01/04/biden-doubles-us-order-of-pfizer-covid-treatment-pills-speeds-delivery-as-omicron-rages.html

Stocks making the biggest moves midday: Ford, Bank of America, Occidental and more

These are the stocks posting the largest moves in midday trading.

Read more at: https://www.cnbc.com/2022/01/04/stocks-making-the-biggest-moves-midday-ford-bank-of-america-and-more.html

Cramer says ‘sky is the limit’ for Ford in 2022 after last year’s 136% surge

“I’ve been a big backer of Ford as part of the charitable trust,” CNBC’s Jim Cramer said Tuesday, adding CEO Jim Farley “has done a remarkable job.”

Read more at: https://www.cnbc.com/2022/01/04/cramer-says-sky-is-the-limit-for-ford-in-2022-after-last-years-136percent-surge.html

Why Biogen’s Alzheimer’s drug Aduhelm is so controversial

Biogen’s Alzheimer’s drug Aduhelm was heralded as a historic triumph against the memory-robbing disease. Now, the company is trying to keep it afloat.

Read more at: https://www.cnbc.com/2022/01/04/why-biogens-alzheimers-drug-aduhelm-is-so-controversial-.html

Manhattan real estate breaks record in 2021, reaching $30 billion in sales

“Clearly, the pace of the recovery in 2021 was faster than I think most people anticipated,” said Jonathan Miller, CEO of Miller Samuel. “It’s been startling.”

Read more at: https://www.cnbc.com/2022/01/04/manhattan-real-estate-reaches-record-breaking-30-billion-in-sales.html

Airlines cancel another 1,400 flights as omicron, severe weather continue to snarl travel

Airlines have canceled more than 20,000 U.S. flights since Christmas Eve.

Read more at: https://www.cnbc.com/2022/01/04/airlines-cancel-hundreds-of-flights-from-omicron-weather.html

Toyota dethrones GM to become America’s top-selling automaker in 2021

Toyota outsold GM in 2021, marking the first time since 1931 that the Detroit automaker wasn’t the best-selling car company in the U.S.

Read more at: https://www.cnbc.com/2022/01/04/toyota-dethrones-gm-to-become-americas-top-selling-automaker-in-2021.html

Auto insurance is expected to cost 5% more in 2022. Here’s where it’s the most and least expensive

For 2022, the average national premium for annual car insurance is expected to jump 5% to $1,707, up from $1,663 in 2021, research shows.

Read more at: https://www.cnbc.com/2022/01/04/auto-insurance-climbing-5percent-in-2022-where-its-most-least-expensive.html

Verdict in fraud case of Theranos founder Elizabeth Holmes offers lessons for investors

Theranos isn’t the only bad apple out there. Here’s how you can protect yourself and your portfolio from corporate fraud.

Read more at: https://www.cnbc.com/2022/01/04/verdict-in-fraud-case-of-theranos-founder-elizabeth-holmes-has-lessons-for-investors.html

New Zealand Covid experts take legal action against employer over harassment from public

Two of New Zealand’s top Covid experts are taking legal action against their employer, over its response to the harassment they have faced from the public.

Read more at: https://www.cnbc.com/2022/01/04/new-zealand-covid-experts-take-legal-action-over-public-harassment.html

Sen. Tim Kaine arrives in D.C. after being stuck in a winter storm traffic jam for 27 hours

Other stranded drivers in Virginia were forced to turn off their cars to conserve gasoline, even as temperatures plunged below freezing overnight.

Read more at: https://www.cnbc.com/2022/01/04/sen-tim-kaine-among-hundreds-trapped-in-virginia-snowstorm-traffic-jam.html

CDC shortens waiting period for Pfizer Covid boosters to 5 months

The CDC on Tuesday updated its recommended waiting period for people who completed their primary Covid-19 vaccination series with Pfizer’s shots.

Read more at: https://www.cnbc.com/2022/01/04/cdc-shortens-waiting-period-for-pfizer-covid-boosters-to-5-months.html

Bond Bloodbath Batters Big-Tech, Sparks Bid For Banks

Bond Bloodbath Batters Big-Tech, Sparks Bid For Banks2022’s bond bloodbath continued today with 30Y smashing up to 2.10%…

Source: Bloomberg

This is the biggest 2-day surge in yields since the chaos in March 2020 amid the bailouts. It was all going so well…

30Y Yields blew through their 50-, 100-, and 200-DMAs…

Read more at: https://www.zerohedge.com/markets/big-tech-bonds-battered-banks-bitcoin-bid

Veteran Journo Resigns From CBC, Pens Scathing Indictment Of Canadian Narrative-Shaping Industry

Veteran Journo Resigns From CBC, Pens Scathing Indictment Of Canadian Narrative-Shaping IndustryAuthored by Tara Henley via Lean Out with Tara Henley (emphasis ours),

For months now, I’ve been getting complaints about the Canadian Broadcasting Corporation, where I’ve worked as a TV and radio producer, and occasional on-air columnist, for much of the past decade.

Photo by Artur Widak/NurPhoto via Getty ImagesPeople want to know why, for example, non-binary Filipinos concerned about a lack …

Read more at: https://www.zerohedge.com/markets/veteran-journo-resigns-cbc-pens-scathing-indictment-canadian-narrative-shaping-industry

2021 Auto Sales Are In: Ford Shares Surge On F-150 Demand, Toyota Overtakes GM In U.S.

2021 Auto Sales Are In: Ford Shares Surge On F-150 Demand, Toyota Overtakes GM In U.S.Auto sales data for 2021 is finally in the books and the year was marked by some major changes in the industry’s landscape while automakers struggled do deal with the Covid recovery and an ongoing semiconductor shortage.

Of note on Tuesday are shares of Ford, which are up about 11% after the automaker announced its intentions to double capacity for its Electric F-150.

For the first time, Toyota overtook General Motors as the U.S.’s top selling car company, the WSJ reported on Tuesday morning. Toyota outsold GM by roughly 114,000 vehicles, the report says, selling 2.3 million vehicles – a figure up 10% from 2020, which was mired by the effects of Covid.

Despite the great years, Toyota’s sales fell 30% in the fourth quarter. Honda wasn’t far behind, with sales rising 9% for the year but down 21.5% for the fourth quarter.

Toyota told

Read more at: https://www.zerohedge.com/markets/2021-auto-sales-are-ford-shares-surge-f-150-demand-toyota-overtakes-gm-us

What’s Behind The Surge In Yields That Sent Tech Stocks Tumbling, And What Happens Next

What’s Behind The Surge In Yields That Sent Tech Stocks Tumbling, And What Happens NextFor a while it appeared that stocks, and especially giga-techs, were willing to ignore the plungefest in Treasuries and were riding the wave of new capital (some $125 billion according to Goldman) allocated to stocks of all stripes to start the new year. However, it wasn’t meant to last, and with yields suffering their biggest 2-day surge since the chaos in March 2020…

… high-duration names, which just happen to be the market’s all-important generals, are finally sliding which in a market with as little breadth as this one…

Read more at: https://www.zerohedge.com/markets/whats-behind-surge-yields-sent-tech-stocks-tumbling-and-what-happens-next

Nationwide customers face more payment delays

The UK’s biggest building society says the large volume of payments means a queuing system is needed.

Read more at: https://www.bbc.co.uk/news/business-59871275?at_medium=RSS&at_campaign=KARANGA

General Motors 90-year streak as top US car seller ends

Japan’s Toyota outsold GM, which had held the top spot for nearly a century.

Read more at: https://www.bbc.co.uk/news/business-59874070?at_medium=RSS&at_campaign=KARANGA

Burger King to sell vegan nuggets in bid to go 50% meat-free

The fast-food chain says it will begin selling vegan nuggets across the UK from Wednesday.

Read more at: https://www.bbc.co.uk/news/business-59865780?at_medium=RSS&at_campaign=KARANGA

Aditya Birla Sun Life AMC gets first ‘buy’ rating, IIFL Sec sees 34% upside

IIFL Securities in its report said ABSL AMC, being the fourth largest mutual fund manager in the country, is well poised to capitalise on opportunities in the fast-growing and under-penetrated MF industry in India.

Read more at: https://economictimes.indiatimes.com/markets/stocks/news/aditya-birla-sun-life-amc-gets-first-buy-rating-iifl-sees-34-upside/articleshow/88692157.cms

This BSE SME firm’s valuation swells to $1 bn; stock up 10,600% in 9 months

EKI Energy had debuted on the BSE SME Platform on April 7, 2021, with a market capitalization of Rs 96.23 crore. The company had raised Rs 18 crore during the initial public offer (IPO) in the Rs 100-102 price band.

Read more at: https://economictimes.indiatimes.com/markets/stocks/news/this-bse-sme-firms-valuation-swells-to-1-bn-stock-up-10600-in-9-months/articleshow/88688198.cms

Market Movers: Surging sugar stocks sweeten the rally; Tata Motors gets a shock

The main driver of sugar stocks has been the government’s increased thrust on ethanol blending in fuel.

Read more at: https://economictimes.indiatimes.com/markets/stocks/news/market-movers-surging-sugar-stocks-sweeten-the-rally-tata-motors-gets-a-shock/articleshow/88691548.cms

Crypto: Bitcoin dominance lowest since May 2018; starts off 2022 under-performing smaller cryptocurrencies

Bitcoin dominance, which measures the cryptocurrency’s market capitalization to that of the total crypto market, dropped to 39.4% Tuesday, the lowest level since May 2018.

Read more at: http://www.marketwatch.com/news/story.asp?guid=%7B20C05575-04D4-B545-7837-6A467A2D55B5%7D&siteid=rss&rss=1

Market Pulse: Dow Jones Industrial Average books 2nd record close of 2022 but tech stocks get whacked Tuesday

The Dow on Tuesday books its second record finish in as many sessions in 2022, deepening its move to all-time highs, but the broader market finishes lower.

Read more at: http://www.marketwatch.com/news/story.asp?guid=%7B20C05575-04D4-B545-7837-B4CDF9C3CE71%7D&siteid=rss&rss=1

Financial Crime: Elderly blind man among victims in $630,000 scam perpetrated by a man who claimed to be beneficiary of a multi-million dollar estate

Prosecutors say Clarence Rice falsely claimed to be in line to inherit millions but only if the victims helped pay his debts.

Read more at: http://www.marketwatch.com/news/story.asp?guid=%7B20C05575-04D4-B545-7832-018BA1DC640F%7D&siteid=rss&rss=1