07Jan2022 Market Close & Major Financial Headlines: DOW Slips To Neutral During Final Hour Off Five Points, NASDAQ Down 1.0 Percent And Heads For A Losing Week To Start 2022 On Spiking Rates

Dutch Plan To Boost Gas Output At Earthquake-Prone Site Sparks Anger

Residents in the Groningen area in the Netherlands have voiced their anger at a plan by the Dutch government to potentially double this year production from the Groningen gas field, which has been hit by earthquakes in the past. The Dutch government said on Thursday that it might need more gas to be pumped at Groningen, once Europes biggest gas field, which the Netherlands has pledged to phase out this decade after frequent earthquakes in the past damaged homes in the area. After years of debates and measures to curb production at the field,

Read more at: https://oilprice.com/Latest-Energy-News/World-News/Dutch-Plan-To-Boost-Gas-Output-At-Earthquake-Prone-Site-Sparks-Anger.html

Asian Buyers Look To The Spot Market For Oil

1. Asian Buyers Seeking Spot Options Amidst Expensive OSPs- Several Asian refineries surveyed by S&P Platts admitted they would try to tap into the spot market more extensively in 2022 as termed Middle Eastern OSPs remain too expensive. – Currently, some 12 million b/d of crude is moving every month from Middle Eastern producers to the Asia Pacific and roughly two-thirds of it takes place under OSP-priced term contracts. – The steep Dubai backwardation curve that persisted throughout 2021 compelled Middle Eastern producers to keep on ramping

Read more at: https://oilprice.com/Energy/Energy-General/Asian-Buyers-Look-To-The-Spot-Market-For-Oil.html

Geopolitics And Production Problems Push Oil Prices Higher

A combination of geopolitical uncertainty and production shortages have pushed oil prices higher this week, with both Brent and WTI having broken $80 on Friday, although WTI has since fallen back.Friday, January 7th, 2022Oil prices are gearing up for their largest weekly gain in three weeks after protests across Kazakhstan highlighted the fragility of crude supply. Whilst the immediate impact of riots has been difficult to gauge so far, the uncertainty helped push Brent quotes well above the 80 per barrel mark. Considering that Libya is unlikely

Read more at: https://oilprice.com/Energy/Energy-General/Geopolitics-And-Production-Problems-Push-Oil-Prices-Higher.html

Oil Markets Shrug Off Gasoline Demand Fears

U.S. West Texas Intermediate crude oil futures are putting in a mixed performance on Friday, but still headed to their biggest weekly gain since mid-December as a slew of positive developments encouraged traders to add to their bullish positions. The week started with the news that bullish hedge funds had returned to the market as the threat from the Omicron coronavirus variant receded. The early rally gained momentum after OPEC+ agreed to lift output in February in a move that suggested strong confidence in future demand. Midweek, prices rose

Read more at: https://oilprice.com/Energy/Energy-General/Oil-Markets-Shrug-Off-Gasoline-Demand-Fears.html

Will 2022 Be A Good Year For Oil?

After a decade of disappointment, 2021 was the year when energy finally bounced back and outperformed the broader market. Crude, recovering from the shock of the pandemics early days and massive oversupply, spent most of the year tracking upwards, bringing energy stocks along for the ride. XLE, long the poor relation amongst the sector ETFs, was a top performer, and even the moribund big oil stocks and battered shale producers soared. So, what are the chances of a repeat in 2022? Unfortunately, I would say they are slim, at least in the

Read more at: https://oilprice.com/Energy/Energy-General/Will-2022-Be-A-Good-Year-For-Oil.html

U.S. Rig Count Rises Alongside Oil Prices

The number of active drilling rigs in the United States rose by 2 this week, keeping the total rig count at 588, as oil prices remain strong despite the fresh wave of Covid-19 cases brought by the new variant of the coronavirus amid several oil disruptions around the globe, including in Libya, Ecuador, and Kazahkstan. Last week’s countcomparedwith an unchanged rig count of 586 during the previous week. Baker Hughes reported the total active rig figure was 228 rigs higher than the rig count this time in 2021. Oil-directed rigs were up

Read more at: https://oilprice.com/Energy/Crude-Oil/US-Rig-Count-Rises-Alongside-Oil-Prices.html

Marvel heroes propelled Disney to the top of the 2021 domestic box office

Disney generated $1.17 billion at the domestic box office in 2021, the most of any studio in the industry.

Read more at: https://www.cnbc.com/2022/01/07/disney-topped-the-2021-domestic-box-office.html

Pfizer Covid vaccine protects adolescents against multisystem inflammatory syndrome, CDC says

MIS-C is a condition in which organs become inflamed, such as the heart, lungs, kidneys or brain.

Read more at: https://www.cnbc.com/2022/01/07/covid-pfizer-vaccine-effective-protects-against-mis-c-cdc-says.html

Virgin Orbit stock pops more than 20% as Branson’s company shows off rocket in Times Square

Richard Branson’s satellite-launching company Virgin Orbit brought a rocket to show off in New York City on Friday, as it celebrated going public.

Read more at: https://www.cnbc.com/2022/01/07/virgin-orbit-stock-pops-as-company-shows-rocket-in-times-square.html

Stocks making the biggest moves midday: Discovery, GameStop, T-Mobile and more

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

Read more at: https://www.cnbc.com/2022/01/07/stocks-making-the-biggest-moves-midday-discovery-gamestop-t-mobile-and-more.html

Apology notes, store closures and reduced hours: Here’s how retailers are handling omicron surge

Retailers and restaurants no longer face the looming threat of government shutdowns, but they are struggling with lean workforces and limited inventory.

Read more at: https://www.cnbc.com/2022/01/07/omicron-compounds-worker-shortage-supply-chain-woes-for-retailers.html

No emergency savings? New workplace benefits aim to help

Employers are offering ways workers can build emergency funds, from savings programs through banks to special accounts alongside traditional retirement plans.

Read more at: https://www.cnbc.com/2022/01/07/no-emergency-savings-new-workplace-benefits-aim-to-help.html

These European countries have a higher prevalence of Covid than both the U.S. and the U.K.

Over the past 28 days, the U.S. and the U.K. have recorded the highest number of new cases of Covid-19 in the world, according to Johns Hopkins University.

Read more at: https://www.cnbc.com/2022/01/07/covid-is-more-prevalent-in-these-countries-than-in-the-us-and-uk.html

Covid hospitalizations surge in New York City, but fewer patients are in the ICU

About 5,900 patients are hospitalized with Covid across New York City, 52% higher than last winter’s peak of nearly 3,900 reached on Feb. 8.

Read more at: https://www.cnbc.com/2022/01/07/covid-hospitalizations-surge-in-new-york-city-but-fewer-patients-are-in-the-icu.html

Novak Djokovic thanks supporters via Instagram; He’s ‘free to leave any time’, Australia minister says

“Thank you to people around the world for your continuous support. I can feel it and it is greatly appreciated,” Djokovic wrote as part of an Instagram story.

Read more at: https://www.cnbc.com/2022/01/07/novak-djokovic-thanks-supporters-hes-free-to-leave-any-time-australia-minister-says.html

BMW’s new iX Flow concept car can change colors

BMW doesn’t want future buyers to have to worry about what color their next car will be or what movies are playing at the theater.

Read more at: https://www.cnbc.com/2022/01/07/bmws-new-ix-flow-concept-car-can-change-colors.html

Here’s how to insure your trip amid airline cancellations

The omicron wave of Covid has resulted in thousands of flight cancellations in recent days. Here’s why trip insurance might be a good idea.

Read more at: https://www.cnbc.com/2022/01/07/-how-to-insure-your-trip-amid-airline-cancellations.html

5 things to know before the stock market opens Friday

U.S. stock futures fell Friday after the government’s latest employment report showed much weaker-than-expected job growth.

Read more at: https://www.cnbc.com/2022/01/07/5-things-to-know-before-the-stock-market-opens-friday-jan-7.html

Bed Bath & Beyond is closing more stores in 2022. Here’s a map of locations

Liquidation sales have kicked off at 37 Bed Bath & Beyond locations in the United States and the shops are expected to be closed by the end of February.

Read more at: https://www.cnbc.com/2022/01/07/map-bed-bath-beyond-is-closing-more-stores-in-2022-heres-a-list.html

Nasdaq 100 Suffers Worst Start To Year Since 2000; Rates & Risk-Parity Routed

Nasdaq 100 Suffers Worst Start To Year Since 2000; Rates & Risk-Parity RoutedInvestors appear to be starting the year with an aversion to long duration stocks and instead are leaning into Value stocks with closer ties to an economic recovery. Growth stocks fell to a key technical level this week relative to Value stocks…

Source: Bloomberg

Nasdaq down 7 of the last 8 days and was by far the week’s worst performer as The Dow clung to unchanged on the year today (but faded into the close to end red like the rest). The S&P ended down 2% and Small Caps down 3% on the week. That is Nasdaq’s worst week since Feb 2021…

Read more at: https://www.zerohedge.com/markets/nasdaq-100-suffers-worst-start-year-2000-rates-risk-parity-routed

Pentagon Further Tightens COVID Restrictions After Secretary Austin Tests Positive

Pentagon Further Tightens COVID Restrictions After Secretary Austin Tests PositiveAuthored by Jack Phillips via The Epoch Times,

The Department of Defense (DOD) on Friday tightened its COVID-19 restrictions in the midst of a rise in cases nationwide and days after Secretary Lloyd Austin tested positive for the virus.

Starting Jan. 10 at 5:00 a.m., the Pentagon will reduce its occupancy limit to 25 percent or fewer, while social distancing will stay at six feet. Personnel, including fully vaccinated people, will have to wear a mask indoors unless alone in an office, eating or drinking, or in several other circumstances, according to two memorandums issued by the DOD.

In a memo to st …

Read more at: https://www.zerohedge.com/covid-19/pentagon-further-tightens-covid-restrictions-after-secretary-austin-tests-positive

Shocking Consumer Credit Numbers: US Credit Card Debt Soars Most On Record With Savings Long Gone

Shocking Consumer Credit Numbers: US Credit Card Debt Soars Most On Record With Savings Long GoneWhile it is traditionally viewed as a B-grade indicator, the November consumer credit report from the Federal Reserve was an absolute stunner and confirmed what we have been saying for month: any excess savings accumulated by the US middle class are long gone, and in their place Americans have unleashed a credit-card fueled spending spree.

Here are the shocking numbers: in November, consumer credit exploded by a whopping $40 billion, double the expected $20 billion print, more than double the $16 billion October number, and the highest on record!

And while non-revolving credit (student and car loans) jumped by a solid, if not necessarily remarkable $20 billion, this was only the 7th biggest increase for the series in record…

Read more at: https://www.zerohedge.com/markets/shocking-consumer-credit-numbers-us-credit-card-debt-soars-most-record-savings-long-gone

“Retiring Early” Is The New American Dream: Why This Is A Problem

“Retiring Early” Is The New American Dream: Why This Is A ProblemWhile today’s jobs report showed another striking drop in the unemployment rate (which clearly had a political mandate, so Joe Biden could claim it was the lowest rate achieved in the first year of any president), the participation rate remained stubbornly lower, and far below pre-covid levels.

One possible explanation for the sticky participation rate is that many more Americans – boomers and Gen-Xers – are retiring earlier than expected, a shift facilitated by covid and higher asset prices.

Picking up on this tangent, in his chart of the day, Deutsche Bank’s Jim Reid shows that the expected likelihood of retiring early is now the highest on record and for the first time, the average American worker believes they are more likely than not to retire by the age of 62.

Read more at: https://www.zerohedge.com/markets/retiring-early-new-american-dream-why-problem

Sainsbury’s raises pay to £10 an hour

The supermarket announced on Friday that it will invest £100m in employees’ payments and rewards.

Read more at: https://www.bbc.co.uk/news/business-59909954?at_medium=RSS&at_campaign=KARANGA

People rush to book holidays after Covid travel rules relaxed

The boss of Jet2 says demand has returned to around the same level seen before the Covid pandemic.

Read more at: https://www.bbc.co.uk/news/business-59905680?at_medium=RSS&at_campaign=KARANGA

Hiring slows in US after record year of job gains

The US added a lower than expected 199,000 jobs last month, the Bureau of Labor Statistics says.

Read more at: https://www.bbc.co.uk/news/business-59912190?at_medium=RSS&at_campaign=KARANGA

DMart Q3 Result Preview: RK Damani-led firm to post numbers tomorrow; here’s what to expect

The Radhakishan Damani-promoted retail chain recently shared its quarterly business update with the stock exchanges, wherein it revealed that its standalone revenue for the quarter came in at Rs 9,065 crore compared with Rs 7,432.69 crore in the same quarter last year, up 22 per cent.

Read more at: https://economictimes.indiatimes.com/markets/stocks/earnings/dmart-q3-result-preview-rk-damani-led-firm-to-post-numbers-tomorrow-heres-what-to-expect/articleshow/88749559.cms

What Big Bull’s 3 banking stocks have in store this earnings season

Motilal Oswal is expecting PSU Canara Bank to deliver a 139.5 per cent jump in net profit at Rs 1,670 crore compared with about Rs 700 crore in the year-ago quarter.

Read more at: https://economictimes.indiatimes.com/markets/stocks/earnings/what-big-bulls-3-banking-stocks-have-in-store-this-earnings-season/articleshow/88751996.cms

Tech View: Nifty sees resistance at highs; follow-up buying missing

For the day, the index closed at 17,812.70, up 66.80 points or 0.38 per cent

Read more at: https://economictimes.indiatimes.com/markets/stocks/news/tech-view-nifty-sees-resistance-at-highs-follow-up-buying-missing/articleshow/88757416.cms

The Ratings Game: How to find the silver lining in downfall of cloud stocks

Cloud computing and software-as-a-service stocks have been hit hard as investors fear higher interest rates, inflation and other headwinds will blunt tech spending in the new year, but some analysts see the pullback as a buying opportunity.

Read more at: http://www.marketwatch.com/news/story.asp?guid=%7B20C05575-04D4-B545-7848-291E426C2750%7D&siteid=rss&rss=1

Living With Climate Change: How to be smarter and more sustainable in 2022 — use fewer wasteful, expensive razors

Many consumers want to rethink how their razors and razor blades are manufactured and what happens to all that plastic after disposal.

Read more at: http://www.marketwatch.com/news/story.asp?guid=%7B20C05575-04D4-B545-7820-EC480FAE2820%7D&siteid=rss&rss=1

Market Snapshot: Dow trades in positive territory as U.S. stock indexes mostly decline after Friday’s jobs report

Major U.S. stock indexes trade mostly lower Friday afternoon in a session that has been turbulent as investors parse the latest labor-market data.

Read more at: http://www.marketwatch.com/news/story.asp?guid=%7B20C05575-04D4-B545-7844-DBF9666C5E3D%7D&siteid=rss&rss=1