02Feb2022 Market Close & Major Financial Headlines: Stock Market Books Fourth Day Of Gains In Row As Tech Sector Climbs, DOW Closes Up 224 Points, NASDAQ Up 0.5%, S&P 500 Up 0.9%, USD $95.99

Germany Is Shuttering Nuclear Reactors Amid EU Power Crisis

Despite some countries embracing nuclear power as the obvious solution to the green energy problem that it is over the last 12 months, Europe is still shuttering reactors at a time when it needs them most. With Europe is a massive energy crisis, what remains of a nuclear industry in Germany is about to be taken offline. This comes as “wholesale power prices are more than fourtimes what they were at the start of the coronaviruspandemic,”Bloomberg reportedthis week. This comes despite the fact thatthe EUwas

Read more at: https://oilprice.com/Alternative-Energy/Nuclear-Power/Germany-Is-Shuttering-Nuclear-Reactors-Amid-EU-Power-Crisis.html

The Significance Of Saudi Arabias New Venture Capital Fund

While the worlds media is focused on either Ukraine or OPEC+ developments, Saudi Arabia is quietly but aggressively pursuing Vision 2030. During one of the worlds largest technology conferences LEAP, which is held in Riyadh, Aramco unveiled the launch of a US$1-1.4 billion venture capital fund, Prosperity7Ventures. The new fund, which was introduced by Aramco Chief Technology Officer Ahmad Al-Khowaite, will focus on the development of next-generation technologies and business models. Officially, the main function of the new fund,

Read more at: https://oilprice.com/Energy/Energy-General/The-Significance-Of-Saudi-Arabias-New-Venture-Capital-Fund.html

U.S. Seeks Help From Key Asian Importers To Send Gas To Europe

The United States and Europe are talking to major LNG importers in Asiaincluding Japan, South Korea, India, and even Chinato potentially send some of their gas supply to Europe in case the Russia-Ukraine crisis escalates into a conflict, Bloomberg reported on Wednesday, citing sources with knowledge of the discussions. The contacts with China have been limited, two of the sources told Bloomberg. The Biden Administration has approached officials from Japan, South Korea, and India about the possibility to divert some natural

Read more at: https://oilprice.com/Latest-Energy-News/World-News/US-Seeks-Help-From-Key-Asian-Importers-To-Send-Gas-To-Europe.html

The Green Hydrogen Revolution Is Sweeping Europe And Asia

Europe and China have long been battling it out for hydrogen dominance, but now the race is on to build up green hydrogen capacity specifically. As Shell announces the launch of one of the worlds largest hydrogen electrolyzers in China, European powers will be hot on its tail. Both China and Korea have major plans for green hydrogen, but European countries arent far behind. Even before the pandemic encouraged several world governments to drive the transition away from fossil fuels to renewable alternatives, China and the EU

Read more at: https://oilprice.com/Energy/Energy-General/The-Green-Hydrogen-Revolution-Is-Sweeping-Europe-And-Asia.html

Exxon, Chevron Eye Major Boost In Permian Oil Production

Earlier this month, the Energy Information Administration reported that oil output in the Permian shale play had hit a record, and it was going to continue growing. And now, the two biggest Permian operators have revealed plans for signficant production growth. Exxon and Chevron both said within the past week that they had plans for a substantial ramp-up in Permian oil production during the release of their financial reports for 2021. Exxon eyes an increase of 25 percent. Chevron, although a little more modest, still expects to boost output in

Read more at: https://oilprice.com/Energy/Crude-Oil/Exxon-Chevron-Eye-Major-Boost-In-Permian-Oil-Production.html

The Electric Truck That Can Power Homes

Fords all-electric F-150 Lightning pickup can power homes in a U.S. first offering in which customers will be able to power their homes with an electric truck, the car manufacturer said on Wednesday. Ford and F-Series are partnering with U.S. solar company Sunrun to enhance home energy management and independence by using the onboard battery capability of the all-electric F-150 Lightning, Ford said. F-150 Lightning with available Ford Intelligent Backup Power can provide power and security during an electrical outage the first

Read more at: https://oilprice.com/Latest-Energy-News/World-News/The-Electric-Truck-That-Can-Power-Homes.html

Ferrari has a lot riding on its new SUV, the Purosangue

Ferrari delivered a record 11,155 cars last year, up 22% from last year, and said its order book is “the strongest ever,” stretching into 2023.

Read more at: https://www.cnbc.com/2022/02/02/ferrari-has-a-lot-riding-on-its-new-suv-the-purosangue.html

Key takeaways from GM’s Q4 results and 2022 guidance

From new investments in electric vehicles to not reinstating the company’s dividend, GM announced more than its financial results and 2022 guidance on Tuesday.

Read more at: https://www.cnbc.com/2022/02/02/general-motors-key-takeaways-from-gms-q4-results-and-2022-guidance.html

Extreme heat driven by climate change is ‘new normal’ for oceans, study finds

The heat extremes, driven by climate change, put critical marine ecosystems like coral reefs, seagrass meadows and kelp forests at risk of collapse.

Read more at: https://www.cnbc.com/2022/02/02/extreme-heat-driven-by-climate-change-is-new-normal-for-oceans.html

SeaWorld’s bid for Cedar Fair ‘makes sense,’ but it may have to pay more

Theme park experts aren’t surprised that SeaWorld is looking to acquire Cedar Fair, but the price might not be right, yet.

Read more at: https://www.cnbc.com/2022/02/02/seaworlds-bid-for-cedar-fair-makes-sense-but-it-may-have-to-pay-more.html

Stocks making the biggest moves midday: Alphabet, PayPal, General Motors, AMD & more

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

Read more at: https://www.cnbc.com/2022/02/02/stocks-making-the-biggest-moves-midday-alphabet-paypal-general-motors-amd-more.html

Cramer’s Investing Club: We’re encouraged AbbVie shares held recent gains after a mixed quarter

Despite some spotty results here and there, we saw strength in all the right places in AbbVie’s fourth-quarter earnings report.

Read more at: https://www.cnbc.com/2022/02/02/cramers-investing-club-were-encouraged-abbvie-shares-held-recent-gains-after-a-mixed-quarter.html

AMC to raise $500 million in bond sale as it seeks to refinance debt

Movie theater chain AMC Entertainment plans to sell $500 million in bonds in a bid to pay down maturing debt and related fees.

Read more at: https://www.cnbc.com/2022/02/02/amc-to-raise-500-million-in-bond-sale-as-it-seeks-to-refinance-debt.html

Dr. Scott Gottlieb says it’s time to consider dumping school Covid mask mandates

“We’re going to probably have to tolerate, and probably should, a higher level of baseline spread,” the former FDA chief told CNBC on Wednesday.

Read more at: https://www.cnbc.com/2022/02/02/dr-scott-gottlieb-says-its-time-to-consider-dumping-school-covid-mask-mandates.html

Starbucks CEO says airport cafe closures, low traffic to offices weighed on Chinese sales

Reduced international travel and low traffic to office buildings weighed on Starbucks’ same-store sales in China, according to CEO Kevin Johnson.

Read more at: https://www.cnbc.com/2022/02/02/starbucks-ceo-kevin-johnson-on-why-chinese-sales-were-weak.html

While Valentine’s Day is getting more expensive, going into debt isn’t sexy

As Americans recover from Covid’s financial strain, couples are less inclined to go into debt for a big, romantic gesture.

Read more at: https://www.cnbc.com/2022/02/02/inflation-impacts-valentines-day-but-overspending-isnt-sexy.html

Danish energy fund to lead massive green hydrogen project in Spain, powered by wind and solar

Over the past few years a number of major firms have undertaken projects related to green hydrogen.

Read more at: https://www.cnbc.com/2022/02/02/danish-energy-fund-to-lead-massive-green-hydrogen-project-in-spain.html

Massive winter storm grounds hundreds of flights across the U.S.

More than 3,000 flights were canceled through Thursday.

Read more at: https://www.cnbc.com/2022/02/02/massive-winter-storm-grounds-hundreds-of-flights-across-the-us.html

Washington Football Team officially renamed Washington Commanders, ending a search that took more than one year

The Washington Football team revealed its new name on Wednesday.

Read more at: https://www.cnbc.com/2022/02/02/washington-football-team-officially-renamed-washington-commanders.html

Facebook Plummets 16% After Missing Across The Board, Guiding Below Expectations

Facebook Plummets 16% After Missing Across The Board, Guiding Below ExpectationsHeading into today’s earnings from social media giant Facebook Meta (technically, the first quarter since the company changed its name), JPM previews expectations as follows: buyside is at the top end of Q4 guide (21%reported growth), with expectation that management steer to a Q1 deceleration q/q (consensus +16%) and reiterate $91-97b FY expense guide. With the new reporting structure, the bank expects RL to represent a LSD% of total revenue and would like to see additional disclosure around VR unit shipments, engagement, developers, etc. The bank also expects FB to have passed 10m active VR units.

If that sounds a bit too arcane, Loup Funds’ Gene Munster simplifies it, tweeting that “the most important metric is MAU/DAU growth. Street is looking for up 5%. If the base is growing, the company can power through IDFA and macro headwinds. If engagement declines, FB will need the metaverse to bail them out.”

For $FB tonight, the most important metric is MAU/DAU growth. Street is looking for up 5%. If the base is growing, the company can power through IDFA and macro headwinds. If engagement declines, FB will need the metaverse to bail them out.

— Gene Munster (@munster_gene) February 2, 2022

As for why FB (not to be confused with META) matters, JP …

Read more at: https://www.zerohedge.com/markets/facebook-plummets-16-after-missing-across-board-guiding-below-expectations

Spotify Pukes To 21-Month-Lows After Weak User Growth Guidance

Spotify Pukes To 21-Month-Lows After Weak User Growth GuidanceSpotify is making more headlines tonight – and not in a good way for shareholders.

The current quarter looked good with revenues coming in at EU2.69 billion, +24% YoY, (slightly beating the EU2.65 billion expectation).

Monthly active users were at 406 million, +18% YoY, in line with the estimate of 406.1 million.

And average rev. per user was EU4.40, considerably better than the estimate of EU4.31.

However, the company said it would end the first quarter with 418 million total users and 183 million paid subscribers, shy of Wall Street forecasts on both numbers (422 million and 185.3 million expected).

The company didn’t provide a reason for the shortfall, though it did say the uncertain environment of Covid-19 made it harder to forecast.

This sent shares reeling after hours, down 20% to its lowest si …

Read more at: https://www.zerohedge.com/markets/spotify-pukes-21-month-lows-after-weak-user-growth-guidance

PayPal Pukes, Google Gains, Crypto Crokes, Dollar Dumps

PayPal Pukes, Google Gains, Crypto Crokes, Dollar DumpsSigh… another day, and yet another ugly macro data point, as ADP employment data crashed most since the COVID lockdown crisis in 2020. That print stole the jam out of the market’s Alphabet-driven overnight donut.

However, once European markets closed, the bid resumed, lifting The Dow, S&P, and Nasdaq into the green. S&P 500 closed up 1%, best of the bunch, as Small Caps remained ugly, down 1% on the day)…

Dow and S&P gapped open above their 100DMAs and spent the morning battling to cling on to it. Once Europe closed, The Dow extended above its 50DMA and S&P built on its gains above the 100DMA…

Read more at: https://www.zerohedge.com/markets/paypal-pukes-google-gains-crypto-crokes-dollar-dumps

SUNY Professor: “It’s A Mistake” To Think Pedophilia Is Wrong

SUNY Professor: “It’s A Mistake” To Think Pedophilia Is WrongAuthored by Paul Joseph Watson via Summit News,

A SUNY professor is under investigation after video clips emerged of him asserting that “it’s a mistake” to think pedophilia is wrong and that there are “evolutionary advantages to child/adult sex.”

Yes, really.

SUNY Fredonia professor Stephen Kershnar teaches teaches libertarian philosophy and applied ethics at the university.

As part of his libertarian philosophy, Kershnar believes that society’s reaction to pedophilia is what’s wrong, and that consenting sexual relationships between adults and children could actually be a good thing.

“Imagine that an adult male wants to have sex with a 12-year-old girl. Imagine that she’s a willing participant. A very standard, very widely held view is that there’s something deeply wrong about this. It’s wrong independent of it being criminalized,” said …

Read more at: https://www.zerohedge.com/medical/suny-professor-its-mistake-think-pedophilia-wrong

Energy bills set to soar but millions may get £200 help

Average bills could hit £2,000 as ministers consider loans to support energy firms to limit increases.

Read more at: https://www.bbc.co.uk/news/business-60228235?at_medium=RSS&at_campaign=KARANGA

‘The volunteers helping people cope with high energy bills’

Council grants and community projects are stepping in to help families with soaring energy costs.

Read more at: https://www.bbc.co.uk/news/business-your-money-60154108?at_medium=RSS&at_campaign=KARANGA

Pret raises the price of its coffee subscription by 25%

Some customers say the 25% rise is too steep but Pret says its costs are rising sharply.

Read more at: https://www.bbc.co.uk/news/business-60223226?at_medium=RSS&at_campaign=KARANGA

Cryptocurrencies like Bitcoin, Ethereum will never become legal tenders: Finance Secretary

People investing in private crypto should understand that it is does not have the authorisation of the government. There is not any guarantee that your investments will be successful or not, one may lose money and the government is not responsible for this, he said

Read more at: https://economictimes.indiatimes.com/markets/cryptocurrency/cryptocurrencies-like-bitcoin-ethereum-will-never-become-legal-tenders-finance-secretary/articleshow/89301721.cms

Titan Q3 preview: Rakesh Jhunjhunwala’s top bet may post 50-60% YoY profit growth

The firm, in its quarterly business update last month, had said it has witnessed “strong demand” across its consumer businesses and clocked 36 per cent growth over the festive quarter last year.

Read more at: https://economictimes.indiatimes.com/markets/stocks/news/titan-q3-preview-rakesh-jhunjhunwalas-top-bet-may-post-50-60-yoy-profit-growth/articleshow/89302426.cms

Tata Consumer Products Q3 results: Net profit jumps 22.2% to Rs 290 cr

Its revenue from operations during October-December 2021 rose 4.52 per cent to Rs 3,208.38 crore, compared with Rs 3,069.56 crore in the year-ago period.

Read more at: https://economictimes.indiatimes.com/markets/stocks/earnings/tata-consumer-products-q3-results-net-profit-jumps-22-2-to-rs-290-cr/articleshow/89302390.cms

Earnings Results: Qualcomm stock drops following earnings, outlook beat

Qualcomm Inc. shares gave back regular session gains — and then some — in the extended session Wednesday even as the chip maker’s quarterly results and outlook topped Wall Street estimates.

Read more at: http://www.marketwatch.com/news/story.asp?guid=%7B20C05575-04D4-B545-78F0-08F8765BDADE%7D&siteid=rss&rss=1

: Redbox stock cut in half after company warns of multiple pressures on its rental business

Shares of Redbox Entertainment Inc. dropped more than 50% Wednesday after the DVD-rental company warned of various recent pressures to its business.

Read more at: http://www.marketwatch.com/news/story.asp?guid=%7B20C05575-04D4-B545-78EF-285F7CD9B747%7D&siteid=rss&rss=1

: How Tom Brady made his $475 million fortune

Tom Brady has retired from the NFL with seven Super Bowl Championships and hundreds of millions in earnings.

Read more at: http://www.marketwatch.com/news/story.asp?guid=%7B20C05575-04D4-B545-78F0-4F26DF69DC66%7D&siteid=rss&rss=1