14Jan2022 Market Close & Major Financial Headlines: Markets End The Week Mixed

Crude Prices Get Support From A Weaker Dollar

U.S. West Texas Intermediate crude oil futures are edging higher on Friday, putting it in a position to post its fourth straight weekly gain. The catalysts behind the buying strength are supply constraints and a weaker U.S. Dollar. Meanwhile, traders appear to be unfazed by reports that China is set to release crude reserves around the Lunar New Year. The feeling is that there is enough growing global demand to absorb any increase in supply. US Dollar Headed for Large Weekly Decline The surprise story this week is the steep drop in the U.S. Dollar

Read more at: https://oilprice.com/Energy/Energy-General/Crude-Prices-Get-Support-From-A-Weaker-Dollar.html

China’s Attempt To Kill The Oil Rally Is Bound To Fail

In normal times, an announcement from China that it would release crude from its strategic reserves would drive oil prices down, but these aren’t normal times and the relentless oil rally has continued.Friday, January 14th, 2022It may seem somewhat counterintuitive for the oil market to shake off news regarding a potential Chinese SPR release, but that is exactly what has happened this week. With the mood still firmly bullish on the back of a weakening dollar, Libyan supply issues, and lower-than-expected OPEC+ output, the oil price rally was driven

Read more at: https://oilprice.com/Energy/Energy-General/Chinas-Attempt-To-Kill-The-Oil-Rally-Is-Bound-To-Fail.html

Germany To Become Net Power Importer For The First Time Since 2002

Europes largest economy, Germany, is expected to become a net importer of electricity in 2023 for the first time since 2002 due to retiring coal plants and the nuclear phase-out, the International Energy Agency (IEA) said on Friday. Germany plans to switch off all its remaining nuclear power generators by the end of 2022, while it will also retire a large portion of its coal-fired capacity fleet between 2022 and 2024. Recently, the country has said it would aim to phase out coal by 2030 eight years ahead of earlier plans. The coal

Read more at: https://oilprice.com/Latest-Energy-News/World-News/Germany-To-Become-Net-Power-Importer-For-The-First-Time-Since-2002.html

Europe’s Gas Crisis Eases Slightly

1. US Crude Supply to Hit Pre-Pandemic Levels by 2023- The US Energy Information Administration (EIA) revised its outlook for US crude supply marginally downwards, now expecting output to rise by 640,000 b/d year-on-year to a total of 11.8 million b/d. – At the same time, the EIA increased its pricing outlook for this year, now expecting the annual Brent average to come in at 74.95 per barrel, with WTI at 71.32 per barrel for 2022. – This would mean that despite the overall conducive environment, the US will return to its pre-pandemic supply levels

Read more at: https://oilprice.com/Energy/Energy-General/Europes-Gas-Crisis-Eases-Slightly.html

The Geopolitical Risks To Watch This Winter

A single attack on oil at this point could send prices to $90, but it will depend on where it is. The markets will weigh certain geopolitical sentiments more heavily than others. And there is plenty to choose from right now, from the Ukraine-Russia intensification and the very quickly quashed Kazakhstan uprising to the long-running Libyan conflict and the ever-present threat of Houthi missile attacks on Saudi Aramco oil installations. What would move the needle on oil prices to $90 right now would likely be a clear move by Russia on Ukraine

Read more at: https://oilprice.com/Energy/Energy-General/The-Geopolitical-Risks-To-Watch-This-Winter.html

U.S. Rig Count Jumps As Crude Rally Continues

The number of active drilling rigs in the United States rose by 13 this week, bringing the total rig count at 601, as oil prices keep to bull territory even as the fresh wave of Covid-19 cases brought by the new variant threatens to diminish demand. Last week’s countcomparedwith an unchanged rig count of 588 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 by 11 to 492, while gas-directed rigs were up by 2 to 109. Oil production

Read more at: https://oilprice.com/Energy/Crude-Oil/US-Rig-Count-Jumps-As-Crude-Rally-Continues.html

Thieves target another source for stolen goods: Delivery trucks and trains full of packages

Major retailers, including Target and Best Buy, have spoken out about organized thefts and urged Congress to make it harder for criminals to sell stolen goods.

Read more at: https://www.cnbc.com/2022/01/14/thieves-find-new-source-for-stolen-goods-delivery-trucks-and-trains-.html

New York Covid numbers are finally trending down, Gov. Hochul says

“There will come a time when we can say it’s all over,” Hochul said of Covid “We’re not there yet, but boy, it’s on the horizon.”

Read more at: https://www.cnbc.com/2022/01/14/new-york-covid-numbers-are-finally-trending-down-gov-hochul-says.html

GE suspends Covid vaccine and testing rules after Supreme Court blocks Biden mandate

President Joe Biden said he would urge businesses to implement the rules voluntarily.

Read more at: https://www.cnbc.com/2022/01/14/ge-suspends-covid-vaccine-and-testing-rules-after-supreme-court-blocks-biden-mandate.html

Retail industry presses ahead with conference, tries to nudge Americans toward normalcy

The National Retail Federation said it will take extra precautions, including handing out N95 masks and at-home Covid tests.

Read more at: https://www.cnbc.com/2022/01/14/retail-industry-presses-ahead-with-conference-tries-to-nudge-normalcy.html

The U.S. hopes the threat of harsh sanctions deters a Russian invasion of Ukraine—Here’s how they work

Russia is amassing troops on its border with Ukraine. The U.S. and its allies plan to use economic sanctions to deter an invasion. Here’s how they work.

Read more at: https://www.cnbc.com/2022/01/14/russia-ukraine-talks-how-us-economic-sanctions-work.html

Biden administration threatens to claw back Covid funds from Arizona over school anti-mask policies

GOP Gov. Doug Ducey has 60 days to change the disputed programs or the Biden administration may take back that Covid stimulus money, Treasury said.

Read more at: https://www.cnbc.com/2022/01/14/biden-administration-threatens-to-claw-back-covid-funds-from-arizona-over-school-anti-mask-policies.html

United brings back airport vaccines for employee boosters as omicron spreads

United has started offering staff vaccines in airports again as the omicron wave sweeps through crews.

Read more at: https://www.cnbc.com/2022/01/14/united-brings-back-airport-vaccines-for-employee-boosters-as-omicron-spreads.html

Bill Ford is doubling down on Ford shares, and quietly amassing more control of his great-grandfather’s company in the process

The decision to purchase the shares bucks a recent trend by CEOs and corporate insiders who sold a record $69 billion in stock in 2021.

Read more at: https://www.cnbc.com/2022/01/14/bill-ford-is-doubling-down-on-ford-shares-and-amassing-more-control-of-the-company.html

One of the world’s biggest offshore wind farms gears up for full operations

The North Sea, where Triton Knoll is located, is home to a number of large-scale offshore wind facilities.

Read more at: https://www.cnbc.com/2022/01/14/one-of-worlds-biggest-offshore-wind-farms-gears-up-for-full-operation.html

Here’s the full list of the best-selling electric cars in China for 2021

Tesla and BYD remained market leaders in China’s electric car market last year, while new competitors emerged, according to the China Passenger Car Association.

Read more at: https://www.cnbc.com/2022/01/14/heres-the-full-list-of-the-best-selling-electric-cars-in-china-for-2021.html

Australia cancels Novak Djokovic’s visa for the second time

Tennis star Novak Djokovic has had his visa canceled once again ahead of the Australian Open as the furor over his vaccination status intensifies.

Read more at: https://www.cnbc.com/2022/01/14/australia-cancels-novak-djokovics-visa-for-the-second-time.html

5 things to know before the stock market opens Friday

U.S. stock futures accelerated to the downside Friday after Dow stock JPMorgan dropped and retail sales disappointed.

Read more at: https://www.cnbc.com/2022/01/14/5-things-to-know-before-the-stock-market-opens-friday-jan-14.html

India’s third wave of Covid infections is expected to blunt growth in the near term

But the overall economic impact of the third wave of infections is expected to be less severe and less disruptive compared to the previous two waves.

Read more at: https://www.cnbc.com/2022/01/14/india-covid-third-wave-is-expected-to-slow-near-term-economic-growth-.html

“We’re Breaking Her, Keep Going”: ACLU Strategist Issues Chilling Tweet Against Sinema

“We’re Breaking Her, Keep Going”: ACLU Strategist Issues Chilling Tweet Against SinemaAuthored by Jonathan Turley,

While President Joe Biden has portrayed anyone supporting the filibuster as a virtual confederate sympathizer and Bull Conner wannabe, the attacks did not sway senators like Sen. Kyrsten Sinema, D-Ariz. who defiantly went to the floor to deliver a speech calling for the end of the politics of division. She, and her colleague Sen. Joe Machin, D-W.V., stood firm in support of the filibuster. The response from the commentators on the left was pure unadulterated rage. Many like MSNBC Lawrence O’Donnell cruelly mocked her from appearing emotional. However, one of most chilling attack came from a reported staff member at the ACLU, Sarah Michelsen, who encouraged people to keep up the pressure to “break” Sinema. The senator has been continually harassed by activists, who even followed her into a bathroom to berate her.

Read more at: https://www.zerohedge.com/political/were-breaking-her-keep-going-aclu-strategist-issues-chilling-tweet-against-sinema

What’s Going On With Nancy Pelosi’s Son?

What’s Going On With Nancy Pelosi’s Son?House Speaker Nancy Pelosi’s son, Paul Pelosi Jr., has been called out by the Daily Mail over his close ties to “a host of fraudsters, rule-breakers and convicted criminals,” yet has never been charged himself.

Paul Pelosi Jr. (left), and his former cousin-by-marriage California Gov. Gavin Newsom (D), 2009Once dubbed the ‘rising prince’ of the Pelosi political dynasty by the now-defunct Men’s Vogue, Pelosi Jr. had “years-long repeated business dealings” with unsavory characters, in what may have been efforts to curry favor with the Democrat’s powerful family.

Via the Daily Mail, Pelosi Jr.’s links to alleged lawbreakers include:

Read more at: https://www.zerohedge.com/political/whats-going-nancy-pelosis-son

Poll Finds Only 10% Of Americans Trust Media On COVID, 30% Trust Fauci

Poll Finds Only 10% Of Americans Trust Media On COVID, 30% Trust FauciAuthored by Paul Joseph Watson via Summit News,

A new poll has found that just 10 per cent of Americans trust the media when it comes to information about COVID-19, while just over 30 per cent trust Anthony Fauci.

Wow.

The survey was conducted by NewsNation/Decision Desk HQ.

It asked participants, “When it comes to information about COVID-19, which of the following sources would you say you trust? Select all that apply.”

Dr. Anthony Fauci: 30.8%

Federal health authorities like the CDC and the FDA: 49.8%

Your doctor: 63.2%

President Biden: 15.5%

The news media: 10.2%

Put it another way, almost 90 per cent of Americans don’t trust …

Read more at: https://www.zerohedge.com/political/poll-finds-only-10-americans-trust-media-covid-30-trust-fauci

One Bank Predicts $3 Trillion In Quantitative Tightening Coming

One Bank Predicts $3 Trillion In Quantitative Tightening ComingWall Street has officially jumped the shark: with the economy set to slow this year – even as supply-driven inflation refuses to relent – consensus now expects 3-4 rate hikes this year (with Jamie Dimon predicting as many as “6 or 7”) – some are going so far as to predict how much shrinkage the Fed’s balance sheet will see in the coming years once it begins any time between March and June.

Enter Deutsche Bank, which forecasts that once QT begins, the Fed’s balance sheet will shrink from $9 trillion currently to $6 trillion.

As DB’s Jim Reid notes overnight, citing the bank’s economist Matt Luzzetti and rate strategist Steven Zeng, project that the Fed balance sheet would peak just under $9tn after QE completes in March, before falling back to eventually approach 20% of GDP from over 35% today, and around a third smaller than this peak, at which point it will be around $6 trillion.

That, according to Kostin, is a level more consistent with the pre-covid experience and a potential target highlighted by Governor Waller. Under this projection, the balance sheet would reduce by $560bn this year and $1tn in 2023, and the balance in outer years.

Read more at: https://www.zerohedge.com/markets/one-bank-predicts-3-trillion-quantitative-tightening

Jailed ‘Pharma Bro’ Martin Shkreli ordered to repay $64m

Martin Shkreli has also been barred from the US pharmaceutical industry for life.

Read more at: https://www.bbc.co.uk/news/business-60001147?at_medium=RSS&at_campaign=KARANGA

Tesla starts accepting once-joke cryptocurrency Dogecoin

Elon Musk’s plans send the value of the cryptocurrency soaring.

Read more at: https://www.bbc.co.uk/news/business-60001144?at_medium=RSS&at_campaign=KARANGA

Energy firm E.On apologises for sending socks to customers

It is the second energy supplier in a week to admit to a marketing gaffe as customers face rocketing bills.

Read more at: https://www.bbc.co.uk/news/business-59995938?at_medium=RSS&at_campaign=KARANGA

Ashish Kacholia buys three new stocks in Dec quarter

As per the latest corporate shareholdings, Ashish Kacholia publicly holds 31 stocks with a net worth of over Rs 1,939.8 crore, the data from Trendlyne suggested.

Read more at: https://economictimes.indiatimes.com/markets/stocks/news/ashish-kacholia-buys-three-new-stocks-in-dec-quarter/articleshow/88891798.cms

IIFL Securities gung-ho on Chennai Super Kings as IPL hosts 10 teams

CSK started to trade at Rs 12 in the pre-IPO markets in November 2018, since its demerger with India Cements. The scrip zoomed 1,500 per cent to Rs 180 in January 2022. It has delivered a return of 165 per cent in the last year.

Read more at: https://economictimes.indiatimes.com/markets/stocks/news/iifl-securities-gung-ho-on-chennai-super-kings-as-ipl-hosts-10-teams/articleshow/88899070.cms

Ahead of Budget, D-St hopes for FY23 fiscal deficit of around 6.25% of GDP

The Indian equity market would find reason for cheer if the government were to rein in its fiscal deficit target at 6.25 per cent of GDP in 2022-23 (Apr-Mar), according to the median of an ETMarkets poll

Read more at: https://economictimes.indiatimes.com/markets/stocks/news/ahead-of-budget-d-st-hopes-for-fy23-fiscal-deficit-of-around-6-25-of-gdp/articleshow/88891485.cms

Key Words: People of color have been less likely than their white counterparts to get a COVID-19 vaccine — but that is finally changing

The Centers for Disease Control and Prevention reports vaccination data, but critics say it still has some significant gaps.

Read more at: http://www.marketwatch.com/news/story.asp?guid=%7B20C05575-04D4-B545-7874-1423F4C9412C%7D&siteid=rss&rss=1

Washington Watch: The SEC’s next regulatory target could be index providers

The SEC may set minimum standards for governance of securities indexes and mandate transparency regarding methodology, licensing fees and potential conflicts of interest.

Read more at: http://www.marketwatch.com/news/story.asp?guid=%7B20C05575-04D4-B545-786F-24C5622EB80D%7D&siteid=rss&rss=1

Commodities Corner: Tensions between Russia and Ukraine aren’t fully priced into commodities

Tensions between Russia and Ukraine are on the rise, and traders have yet to fully recognize the risks a conflict would pose to the commodities market, particularly natural gas, wheat, and corn.

Read more at: http://www.marketwatch.com/news/story.asp?guid=%7B20C05575-04D4-B545-786A-E8FEE0E8E970%7D&siteid=rss&rss=1