24Jan2022 Market Close & Major Financial Headlines: Markets Reverse Course And Gain Today

Mexicos Huge Oil Hedge Was Unaffected By Its Export Ban Plans

Mexicos well-known oil hedge is showing no signs of diminishing, even in the wake of Mexicos ambitious plans to curb oil exports. Mexicos hedge for 2022 crude oil production, in fact, was similar in size as it has been in previous years, Bloomberg reported. This, even as Mexicos President Andres Manuel Lopez Obrador plans to halt all crude oil exports as it looks to improve its self-sufficiency by making more crude oil available for its own needs. According to an anonymous Bloomberg source, Mexicos oil hedge for

Read more at: https://oilprice.com/Latest-Energy-News/World-News/Mexicos-Huge-Oil-Hedge-Was-Unaffected-By-Its-Export-Ban-Plans.html

Whats In The 20-Year Draft Agreement Between Iran And Russia?

The new 20-year co-operation deal between Iran and Russia was not finalized at last weeks visit to Moscow of Iranian President, Ebrahim Raisi, and his Russian counterpart, Vladimir Putin. Instead, according to a senior source close to Irans Petroleum Ministry spoken to exclusively by OilPrice.com, the first visit of an Iranian president to Russia in almost five years discussed in-depth key points that are contained in Tehrans final draft proposal for the agreement. This draft covers a wide range of issues relating to the general

Read more at: https://oilprice.com/Energy/Energy-General/Whats-In-The-20-Year-Draft-Agreement-Between-Iran-And-Russia.html

An Experts Take On Energy Markets In 2022

This was supposed to be a follow-up to my previous article on the lithium market. However, I got a tremendous amount of feedback and numerous inquiries following that article. I am going to speak with a few more people in the industry this week before I finish that article. But I also like to get in my energy predictions in early January, and we have just slipped into the second half of January. So that seems to be an appropriate alternative. Whenever I get most of my energy sector predictions right as I did in 2021 I often question

Read more at: https://oilprice.com/Energy/Energy-General/An-Experts-Take-On-Energy-Markets-In-2022.html

Europes Top Copper Producer Wants Nuclear Energy Labeled As Green

European industries could grow using clean energy only if the European Union (EU) decides to classify some nuclear power plant investments as sustainable, the head of Europes top copper producer, told Bloomberg in an interview. Theres no other logical way for the European industries to grow, based on clean energy, than through nuclear power, Marcin Chludzinski, chief executive of Polish copper producer KGHM Polska Miedz, told Bloomberg. Even if we maintain profitable production despite rising gas and electricity

Read more at: https://oilprice.com/Latest-Energy-News/World-News/Europes-Top-Copper-Producer-Wants-Nuclear-Energy-Labeled-As-Green.html

Permian Super-Emitters Could Save $26 Million Per Year By Fixing Methane Leaks

Over the past three years, 30 oil and gas infrastructure facilities in the Permian have been large methane emitters, data collected from airborne surveys by Carbon Mapper and the Environmental Defense Fund showed. The data collected from surveys conducted between 2019 and 2021 showed that 30 so-called super-emitters produce the same near-term climate pollution as around half a million passenger vehicles, the Environmental Defense Fund said. Those super-emitters account for less than .001% of the regions

Read more at: https://oilprice.com/Energy/Energy-General/Permian-Super-Emitters-Could-Save-26-Million-Per-Year-By-Fixing-Methane-Leaks.html

Mexico’s Energy Minister Hits Back At Refinery Criticism

The new Dos Bocas refinery that Mexicos government is building to reduce the countrys dependence on fuel imports is being built in record time. Opinions around the world are very positive, according to energy minister Rocio Nahle. Bloomberg reports that the energy minister was responding to media reports that the Dos Bocas project was plagued by cost overruns and delays. According to the reports, the refinery is running $3.6 billion over budget, and delays could mean that the flagship project of Mexican President Andrs

Read more at: https://oilprice.com/Latest-Energy-News/World-News/Mexicos-Energy-Minister-Hits-Back-At-Refinery-Criticism.html

Merrill Lynch fires advisor James Iannazzo after arrest for TikTok filmed rant, drink toss at smoothie worker

James Iannazzo, a Merrill Lynch financial advisor, said his son went into anaphylactic shock after drinking a smoothie from a Connecticut store.

Read more at: https://www.cnbc.com/2022/01/24/merrill-lynch-fires-james-iannazzo-after-arrest-for-tiktok-filmed-rant.html

One year after the 737 Max’s return, Boeing is still trying to get back on course

Boeing’s 737 Max was grounded for 20 months, the longest in aviation history, following two deadly crashes blamed in part on an automated engine control system.

Read more at: https://www.cnbc.com/2022/01/24/the-737-max-may-be-back-but-boeing-is-still-trying-to-get-back-on-course.html

Bob Dylan sells recorded music catalog to Sony Music Entertainment

Sony Music Entertainment has acquired the entire recorded music catalog of Bob Dylan.

Read more at: https://www.cnbc.com/2022/01/24/bob-dylan-sells-recorded-music-catalog-to-sony-music-entertainment.html

Shares of Rivian and other EV start-ups tank amid stock sell-off

Shares of Rivian and other EV start-ups tumbled Monday to 52-week or record lows, as many investors seek safer investments amid a broader market sell-off.

Read more at: https://www.cnbc.com/2022/01/24/shares-of-rivian-and-other-ev-start-ups-tank-amid-stock-sell-off.html

Here’s what you need to know about getting free at-home Covid tests with your health insurance

Rules around how to get your free at-home Covid tests vary from one health insurance plan to the next. Here’s what you need to know.

Read more at: https://www.cnbc.com/2022/01/24/how-to-get-free-at-home-covid-tests-with-your-health-insurance-.html

What’s driving the spike in air rage incidents

The FAA can propose fines up to $37,000 per violation for passengers who engage in unruly behavior.

Read more at: https://www.cnbc.com/2022/01/24/whats-driving-the-spike-in-air-rage-incidents.html

‘Unvaccinated’ Sarah Palin tests positive for Covid, delays New York Times defamation trial

Sarah Palin has Covid-19 last year, but since then has said she would get the coronavirus vaccine “over my dead body.”

Read more at: https://www.cnbc.com/2022/01/24/-unvaccinated-sarah-palin-positive-for-covid-before-ny-times-defamation-trial.html

National Restaurant Association asks Congress for more grant money as omicron hits industry

The National Restaurant Association is asking Congress to replenish the Restaurant Revitalization Fund as the omicron variant hits operators’ businesses.

Read more at: https://www.cnbc.com/2022/01/24/national-restaurant-association-asks-congress-for-aid-amid-omicron.html

Britain’s efforts to become a global power are mired in scandal, says former PM Gordon Brown

“People, I’m afraid, are looking at Britain through the lens of these scandals,” Gordon Brown told CNBC’s Tania Bryer.

Read more at: https://www.cnbc.com/2022/01/24/gordon-brown-the-uk-is-being-viewed-through-a-lens-of-scandal.html

5 things to know before the stock market opens Monday

U.S. stock futures indicated more steep losses to start the new week following the Nasdaq’s and the S&P 500’s worst weeks since March 2020.

Read more at: https://www.cnbc.com/2022/01/24/5-things-to-know-before-the-stock-market-opens-monday-jan-24.html

Fast-food value meals return to menus, but the deals aren’t as cheap

Fast-food value deals are back in full force after nearly two years underground, but chains are hiking prices as they face higher food costs.

Read more at: https://www.cnbc.com/2022/01/24/fast-food-value-meals-return-to-menus-but-the-deals-arent-as-cheap.html

Kohl’s shares surge as takeover offers emerge from suitors including Sycamore

Kohl’s shares are soaring as the department store chain is fielding takeover offers from at least two suitors.

Read more at: https://www.cnbc.com/2022/01/24/kohls-shares-surge-as-takeover-offers-emerge-suitors-include-sycamore.html

Ford reveals new Bronco Raptor performance SUV as a ‘desert-racing beast,’ says CEO

Ford is expanding its Bronco SUV lineup to include a new “desert-racing beast” model that will go on sale later this year

Read more at: https://www.cnbc.com/2022/01/24/ford-bronco-raptor-suv-is-a-desert-racing-beast-ceo-says.html

JPMorgan Prime Asks “Are We There Yet” And Answers…

JPMorgan Prime Asks “Are We There Yet” And Answers…With markets in freefall (at least until the furious reversal midday when as we noted earlier, bitcoin soared higher as rate hike odds tumbled)…

… the only question panicked traders are asking is “is this finally the bottom.”

One place we look for an answer is in the latest note from JPMorgan’s Prime Brokers titled aptly “are we there yet”, in which the bank admits that – contrary to the conviction of JPM’s pernabullish preacher Marko Kolanovic, “the signs are not that clear.”

We excerpt from the note below:

Given how much equity markets in the US have sold off MTD, are we seeing signs of risk-off behavior, i.e. capitulation, which might suggest we’re due for a bounce? In short, the answer is “not really”, at least across HF data we track. This leaves us with a different set-up than we were pointing out in early and mid-Dec whe …

Read more at: https://www.zerohedge.com/markets/jpmorgan-prime-asks-are-we-there-yet-and-answers

Top Ukrainian Says Americans ‘Safer In Kyiv Than Los Angeles’ After State Department Withdrawal

Top Ukrainian Says Americans ‘Safer In Kyiv Than Los Angeles’ After State Department WithdrawalFirst, the EU’s foreign policy chief suggested that the US and UK have been “dramatizing” the Ukraine situation – and won’t be pulling their diplomats’ families amid reports of a recent buildup of Russian forces at the Ukrainian border.

BREAKING (AFP) — The EU is *not* following the US in withdrawing its diplomats’ families from Ukraine, top European diplomat Josep Borrell says, adding there is no need to “dramatize” the situation while diplomatic talks with Russia continue.

— Election Wizard 🇺🇸 (@ElectionWiz) January 24, 2022

Now, a ‘source close to President Volodymyr Zelensky’ is saying the US State Department’s decision to authorize the voluntary departure of US government employees from Kyiv, and the mandatory withdrawal of the family members of US embassy personnel, is a massive overreaction, BuzzFeed reports.

Yes, we know.

According to the report, Ukrainian officials – both current and

Read more at: https://www.zerohedge.com/geopolitical/top-ukrainians-slam-us-state-department-chickening-out-kiev-say-americans-safer-kiev

Flashback: Fauci Spreading False Information On AIDS

Flashback: Fauci Spreading False Information On AIDSAuthored by Martin Armstrong via ArmstrongEconomics.com,

Here is a flashback of Dr. Anthony Fauci spreading false information about AIDS transmission.

Fauci claimed that people could become infected by simply being near someone with AIDS.

“[I]f the close contact of a child is a household contact, perhaps there will be a certain number of cases of individuals who are just living with and in close contact with someone with AIDS, or at risk of AIDS, who does not necessarily have to have intimate sexual contact or share a needle, but just the ordinary close contact that one sees in normal interpersonal relations,” Dr. Fauci advised.

Obviously, we know this is a complete lie.

This false narrative led to gay men being ostracized from society.

Democratic politician Pete Buttigieg’s husband Chasten is offended that people are comparing the disinformation on AIDS to COVID disinformation.

A Newsmax reporter asked, “During the AIDS crisis, can you imagine if gay men and intravenous drug users . . . had they been pariahs the way the non-vaccinated are?”

Chasten replied on Twitter, …

Read more at: https://www.zerohedge.com/medical/flashback-fauci-spreading-false-information-aids

Kolanovic Says “Pullback Is Overdone”, Market “Could Be In Final Stages Of Correction”

Kolanovic Says “Pullback Is Overdone”, Market “Could Be In Final Stages Of Correction”There are three certainties in life: death, taxes and a weekly dose of stock market pep talk from JPMorgan’s head of global strategy, Marko Kolanovic. Today is an example of the third, because in the latest weekly highly anticipated JPMorgan View note…

Marko’s note today should be interesting

— zerohedge (@zerohedge) January 24, 2022

… the Croat who two weeks ago infamously said to buy the dip (echoing another JPMorgan strategist, Mislav Matejka, saying exactly one week earlier that it’s time to stay bullish as “positive catalysts are not exhausted”, which in turn followed the third JPM Croatian strategist, Dubravko Lakos-Bujas saying precisely the same in late December, urging traders to buy high-beta stocks and so on) said – what else – that “market worries around rates and corporate margins are overdone”, in other words, it’s time to buy the dip again.

Here is the key excerpt.

Read more at: https://www.zerohedge.com/markets/kolanovic-says-pullback-overdone-market-could-be-final-stages-correction

Covid travel tests axed in England and Scotland for fully vaccinated

From 11 February, arrivals in England and Scotland will no longer have to take a test within 48 hours.

Read more at: https://www.bbc.co.uk/news/business-60109945?at_medium=RSS&at_campaign=KARANGA

Shares tumble as Russia-Ukraine tensions rattle markets

Global markets drop sharply as fear of a possible Russian invasion unnerves investors.

Read more at: https://www.bbc.co.uk/news/business-60117433?at_medium=RSS&at_campaign=KARANGA

Brewdog chief James Watt accused of inappropriate behaviour

Former US workers at the brewing giant say James Watt’s behaviour made female bartenders feel “uncomfortable” and “powerless”.

Read more at: https://www.bbc.co.uk/news/uk-scotland-59957485?at_medium=RSS&at_campaign=KARANGA

Budget will have to find a balance between capital spending and borrowing

The big question facing policymakers is how to equitably distribute expenditure — given that Covid-19 has disproportionately affected the medium and small enterprises and the lower strata of society, while the economy is just starting to recover and needs fiscal impulse.

Read more at: https://economictimes.indiatimes.com/markets/stocks/news/budget-will-have-to-find-a-balance-between-capital-spending-and-borrowing/articleshow/89097629.cms

Nasdaq dives 3%, S&P 500 on course to confirm a correction

Tesla Inc slid 7.7 per cent to lead declines among the mega-cap technology stocks.

Read more at: https://economictimes.indiatimes.com/markets/stocks/news/wall-street-drops-at-open-as-ukraine-tensions-weigh-at-start-of-crucial-week/articleshow/89098273.cms

These 25 penny stocks jump up to 160% in turbulent New Year

These 25 stocks have rallied between 100-160 per cent since January 1, 2022, suggests data available with ACE Equity. Ten other names have rallied more than 90 per cent during the period under review. This is at a time when the recent selloff has shaved off gains for BSE Sensex and NSE Nifty, with both turning flat on a year-to-date (YTD) basis.

Read more at: https://economictimes.indiatimes.com/markets/stocks/news/these-25-penny-stocks-jump-up-to-160-in-turbulent-new-year/articleshow/89088050.cms

SEC’s Gensler wants to regulate company cybersecurity policies

Securities and Exchange Commission Chairman Gary Gensler wants to leverage his agency’s regulatory powers to compel companies to disclose risks to their businesses from cyber attacks and to divulge incidents of cyber attacks to investors.

Read more at: http://www.marketwatch.com/news/story.asp?guid=%7B20C05575-04D4-B545-78A7-98B2D5B7F6CC%7D&siteid=rss&rss=1

Putin’s ambitions are bigger than Ukraine, says Fiona Hill: ‘He wants to evict the United States from Europe’

In the ongoing conflict between Russia and Ukraine, Russian President Vladimir Putin’s eyes are on a bigger prize, a top expert on the Russian leader and his country says.

Read more at: http://www.marketwatch.com/news/story.asp?guid=%7B20C05575-04D4-B545-78A8-5995EDDF6AB1%7D&siteid=rss&rss=1

Futures Movers: Oil drops to lowest price in over a week on broad market selloff, as Russia-Ukraine tensions unsettle traders

Oil prices end at their lowest in more than a week on Monday, caught up in a broad selloff in risky assets, but hold on to a gain for the month, underpinned by worries over potential supply disruptions.

Read more at: http://www.marketwatch.com/news/story.asp?guid=%7B20C05575-04D4-B545-78A6-670C9BF0D807%7D&siteid=rss&rss=1