04Feb2022 Market Close & Major Financial Headlines: DOW Loses Grip With Sudden Fall, But U.S. Stocks Finish Week Higher, DOW Closes down 21 points from the session high, NASDAQ Up 1.6%, S&P 500 Up 0.5%, WTI Crude 92.22, Bitcoin Higher At 40600, USD 95.43

Headlines:

U.S. rig count rises for 15th straight week as WTI nears $93.
Gas prices have climbed to the highest level in more than seven years, sending prices soaring to 2014 high.
Cryptos Jump, Stocks Slump As Bonds & The Dollar Dumps.
Tesla Stops Scheduling Solar Roof installs Due To “Supply Chain Issues.”

After the opening bell, U.S. stocks wavered across the unchanged line after a reported mixed batch of tech earnings. But the strong growth reporting pushed equities higher, halving yesterday’s loss. Investors saw enough reason to jump ship as the major indexes sharply declined in the last 15 minutes of trading time. However, today’s snap earnings sparked a stock rally that’s so big it made investors nervous.

U.S. jobs growth is stronger than expected as the economy shrugs off Omicron. Employers added 467,000 jobs in January, far better than most analysts had predicted. January Jobs Report Shock: 467,000 New Jobs Added, Big December Revision; Wages Surge.

Bond Report: 2-year Treasury yield posts biggest daily jump since March 2020 after strong January jobs report. The 2-year Treasury yield notched its biggest one-day climb in almost two years after January’s nonfarm payroll report showed an unexpected gain of 467,000.

The last few months looked like a dismal slowdown in the economic recovery, but the newest jobs report showed they were a whole lot better than we thought

As usual, we have included below the headlines and news summaries moving the markets today.

The Market in Perspective

Here are the headlines moving the markets.
	Turkey And Israel Could Work Jointly To Ship Gas To Europe Turkey is interested in resuming talks with Israel about using Israeli natural gas and transporting it to Europe, Turkish President Recep Tayyip Erdogan said on Friday, as carried by the Daily Sabah news outlet. We can use Israeli natural gas in our country, and beyond using it, we can also engage in a joint effort on its passage to Europe, Erdogan told reporters on a return flight from Kyiv, Ukraine. Turkey and Israel have been in a tense bilateral relationship in recent years, after a fallout in 2018, when Turkey criticized Israel Read more at: https://oilprice.com/Latest-Energy-News/World-News/Turkey-And-Israel-Could-Work-Jointly-To-Ship-Gas-To-Europe.html
	Cold Spell In Permian Sends Oil Prices Even Higher Crude prices rallied on Friday morning as a result of small outages in Americas largest shale play and ongoing political tensions between Russia and Ukraine. As if explosions in Nigeria or landslides in Ecuador were not enough, this week has brought another risk factor that was still yet to impact prices – cold. Indeed, a massive winter storm sweeping across the US reached the Permian Basin, triggering fears of potential supply disruptions in the largest American shale play. Add to this the rubber stamping of OPEC+ production increases into Read more at: https://oilprice.com/Energy/Energy-General/Cold-Spell-In-Permian-Sends-Oil-Prices-Even-Higher.html
	U.S. Rig Count Rises For 15th Straight Week As WTI Nears $93 The number of active drilling rigs in the United States rose by 3 this weekthe 15th straight weekly increase to the number of oil and gas rigs in the United States. The total rig count now sits at 613 as the price of a WTI barrel continues to climb to levels not seen since 2014an attraction to drillers that could find too hard to pass up despite the push to maintain capital discipline and return money to shareholders. Baker Hughes reported this week that the total active rig figureoil, gas, and miscellaneousis 221 rigs Read more at: https://oilprice.com/Energy/Energy-General/US-Rig-Count-Rises-For-15th-Straight-Week-As-WTI-Nears-93.html
	Chevron In Talks with Venezuela To Boost Oil Production Chevron is in talks with the Venezuelan government to gain more control over their joint venture and help Caracas boost oil production. Bloomberg reported that the negotiations are being led by the chief of Chevrons Venezuelan division, Javier La Rosa, and PDVSAs president, Asdrubal Chavez, according to unnamed sources in the know. The two had discussed PDVSA giving the U.S. supermajor greater control over the joint operation in exchange for some debt relief. For now, however, the negotiations are informal because Chevron would need Read more at: https://oilprice.com/Latest-Energy-News/World-News/Chevron-In-Talks-with-Venezuela-To-Boost-Oil-Production.html
	U.S. Gasoline Prices Soar To 2014 High As international crude oil prices rally to above $92 per barrel, U.S. gasoline prices continue to surge and hit the highest since September 2014 on Friday, when the national average price of a gallon of regular gasoline was $3.423, AAA data showed. Gasoline prices in America continued to rise for a sixth straight week, after last week the national average was $3.366 a gallon on January 31. On February 4, the average price in every state in the United States was above $3 per gallon, including in Texas, Mississippi, Arkansas, and Alabama, which traditionally Read more at: https://oilprice.com/Energy/Energy-General/US-Gasoline-Prices-Soar-To-2014-High.html
	Russian Diesel Exports To U.S. at Three-Year High Russian exports of diesel to the United States last month hit the highest in three years as typical winter weather drove higher demand for heating and power generation in the Northeast. Bloomberg reported that some 1.55 million barrels of diesel were currently traveling from Russia to the United States, due to arrive by the end of this month, data from Vortexa has shown. The increase in Russian diesel deliveries comes as fuel inventories on the East Coast have fallen to the lowest in eight years while demand is running at the highest since 2018. Read more at: https://oilprice.com/Latest-Energy-News/World-News/Russian-Diesel-Exports-To-US-at-Three-Year-High.html
	Moderna’s Covid vaccine for teens awaits OK as regulators review heart inflammation risk Moderna applied for emergency approval of its Covid vaccine for 12- to 17-year-olds in June, but the FDA said its review wouldn’t be completed before January. Read more at: https://www.cnbc.com/2022/02/04/modernas-covid-vaccine-for-teens-awaits-ok-as-regulators-review-heart-inflammation-risk.html
	Bodegas are looking to zoning laws to defend their turf against instant delivery start-ups How New York regulators respond to the rapid delivery grocers could have implications for other cities as the quick commerce sector expands across the U.S. Read more at: https://www.cnbc.com/2022/02/04/bodegas-look-to-zoning-to-defend-against-instant-delivery-rivals.html
	Kohl’s says takeover offers undervalue its business, initiates ‘poison pill’ Kohl’s said it has adopted a shareholder rights plan, otherwise known as a “poison pill,” in order to avert a hostile takeover. Read more at: https://www.cnbc.com/2022/02/04/kohls-says-takeover-offers-undervalue-its-business.html
	American Dream megamall nearly empties its reserves to make a bond payment The American Dream megamall in New Jersey, crippled by construction delays and stalled store openings, is running out of money. Read more at: https://www.cnbc.com/2022/02/04/american-dream-megamall-nearly-empties-its-reserves-to-make-a-bond-payment.html
	Thiel Capital and regional airline Mesa invest in electric seaglider start-up Regent Mesa Air Group plans to buy 200 electric seagliders from Boston start-up Regent to establish new direct, city-to-city coastal routes in the US. Read more at: https://www.cnbc.com/2022/02/04/thiel-capital-mesa-air-invest-in-electric-seaglider-startup-regent.html
	It’s time to ‘move on’ from the pandemic, says Harvard medical professor Many pandemic protocols are ineffective public health measures and the risk perception among the vaccinated is “way off,” said Harvard’s Dr. Stefanos Kales. Read more at: https://www.cnbc.com/2022/02/04/harvard-medical-professor-says-its-time-to-move-on-from-pandemic-.html
	Southwest will bring booze back on board Feb. 16 after nearly two years Southwest extended a pause on sales of alcohol in May after a spate of unruly passenger incidents including one that turned violent. Read more at: https://www.cnbc.com/2022/02/03/southwest-will-bring-booze-back-on-board-feb-16-after-nearly-two-years.html
	Cutting-edge gallium nitride tech could help EVs charge three times faster Navitas Semiconductor, a company that makes tech for super-fast phone chargers with gallium nitride semiconductors, says electric vehicles are its next big bet. Read more at: https://www.cnbc.com/2022/02/04/navitas-gallium-nitride-tech-could-help-evs-charge-three-times-faster.html
	Volvo and Northvolt to build gigafactory in Sweden with a former Tesla exec in charge Volvo Cars plans to become a “fully electric car company” by the year 2030. Read more at: https://www.cnbc.com/2022/02/04/volvo-cars-northvolt-to-build-gigafactory-in-gothenburg.html
	Gas prices climb to highest level in more than 7 years as oil surges above $90 Oil prices are rising, and that’s driving up prices at the pump. Read more at: https://www.cnbc.com/2022/02/04/gas-prices-climb-to-highest-level-in-more-than-7-years-as-oil-surges-above-90.html
	Stocks making the biggest moves midday: Amazon, Snap, Ford, Clorox and more These are the stocks posting the largest moves in midday trading. Read more at: https://www.cnbc.com/2022/02/04/stocks-making-the-biggest-moves-midday-amazon-snap-ford-clorox-and-more.html
	Inflation means price jumps for dinner and a dozen roses this Valentine’s Day Going on a date this Feb. 14? Expect to pay top dollar for candy, flowers and dinner for two. Read more at: https://www.cnbc.com/2022/02/04/inflation-means-price-jumps-for-dinner-and-roses-this-valentines-day.html
	Jim Cramer says Estee Lauder’s post-earnings stock decline is a buying opportunity “When China ends its lockdowns, I think we’ll see the demand for these products soar,” the “Mad Money” host said. Read more at: https://www.cnbc.com/2022/02/03/cramer-estee-lauders-post-earnings-decline-is-a-buying-opportunity.html
	Attack Of The Transphobic Putin-Nazi Truckers! Attack Of The Transphobic Putin-Nazi Truckers!Authored by CJ Hopkins (satirically) via The Consent Factory, They rolled up on Ottawa’s Parliament Hill like one of the plagues in the Book of Revelations, honking their infernal air horns, the grills of their tractors grinning demonically, the sides of their dry vans painted with blasphemies like “FREEDOM TO CHOOSE,” “MANDATE FREEDOM,” “NO VACCINE MANDATES,” and “UNITED AGAINST TYRANNY.” Yes, that’s right, New Normal Canada has been invaded and now is under siege by hordes of transphobic Putin-Nazi truckers, racist homophobes, anti-Semitic Islamaphobes, and other members of the working classes! According to the corporate media, these racist, Russia-backed, working-class berserkers are running amok through the streets of Ottawa, waving giant “swast … Read more at: https://www.zerohedge.com/geopolitical/attack-transphobic-putin-nazi-truckers
	Cryptos Jump, Stocks Slump As Bonds & The Dollar Dump Cryptos Jump, Stocks Slump As Bonds & The Dollar DumpAs we transitioned from January to February, stocks soared higher as monthly flows were anticipated and op-ex overhangs were wrung out. But, as the week went on and NFLX and FB were clubbed like a baby seal (only to redeemed minimally by AMZN), dip buyers jumped back in and AMZN’s gains rescued investors from more pain. Today was a wild day with AMZN’s strength underlying and the good-news-bad-news payrolls data being shrugged off, leaving Nasdaq up 2% and all the majors in the green into the last 30 minutes… then a wave of selling pressure hit all the majors and actually managed to push The Dow into the red for the day… On the week, The Dow and S&P managed to get back into the green while Small Caps and Big-Tech languished in the red. The l … Read more at: https://www.zerohedge.com/markets/cryptos-jump-stocks-slump-bonds-dollar-dump
	Tesla Stops Scheduling Solar Roof installs Due To “Supply Chain Issues” Tesla Stops Scheduling Solar Roof installs Due To “Supply Chain Issues”There’s nothing like a nice global scapegoat du jour for companies to fall back on when they want to deliver bad news. Along those lines, stop us if you’ve heard this one before: Tesla is reportedly pausing installations of its solar roofs due to “supply chain issues”. The company has reportedly communicated to employees that it is stopping scheduling for new installations as a result. Electrek, who first reported on the news, says “It’s not clear when those problems will be solved.” Tesla reportedly wrote to employees: Most of the solar industry has been experiencing supply chain delays. These constraints are beginning to impact Solar Roof as well. This will lead to delays in scheduling installations for Tesla customers not already on the calendar. And the company also sent out the following message to some customers: Supply Chain Delays May Impact Your Installation Timeline Due to supply chain delays, your installation timeline may be extended. These delays are broadly impacting the U.S. solar industry and are outside Tesla’s control. We do not currently have a firm timeline from our suppliers as to when these delays will end. We will be in touch with you as soon as we have updated information. Thank you for your patience and for helping accelerate the world’s transition to sustainable energy. Read more at: https://www.zerohedge.com/markets/tesla-stops-scheduling-solar-roof-installs-due-supply-chain-issues
	When Fauci Told The Truth About Masking When Fauci Told The Truth About MaskingAuthored by Ian Miller via The Brownstone Institute, On February 4, 2020, just a month before his 60 Minutes interview, and two months before the CDC, with Fauci’s support, changed their mask guidance, he received an email from Sylvia Burwell, who had previously worked as a secretary of Health and Human Services under President Obama. Burwell asked Fauci if she should bring a mask with her while traveling, to which he responded: “Masks are really for infected people to prevent them from spreading infection to people who are not infected rather than protecting uninfected people from acquiring infection.” More importantly, he gave her one of the many scientifically based reasons why it wasn’t necessary, “The typical mask you buy in the drug store is not really effective in keeping out virus, which is small enough to pass through the material. It might, however, provide some slight benefit in keep[ing] out gross droplets if someone coughs or sneezes on you. I do not recommend that you wear a mask…” Read more at: https://www.zerohedge.com/covid-19/when-fauci-told-truth-about-masking
	Backlash after Bank boss says don’t ask for big pay rise Unions criticise Andrew Bailey after he urges firms to moderate pay rises, with GMB calling it a “sick joke”. Read more at: https://www.bbc.co.uk/news/business-60252340?at_medium=RSS&at_campaign=KARANGA
	US jobs growth stronger than expected as economy shrugs off Omicron Employers added 467,000 jobs in January, far better than most analysts had predicted. Read more at: https://www.bbc.co.uk/news/business-60263003?at_medium=RSS&at_campaign=KARANGA
	Energy price rise includes £68 for failed firms, says Ofgem Regulator Ofgem says about 10% of the latest energy price cap rise covered the cost of firms going bust. Read more at: https://www.bbc.co.uk/news/business-60257448?at_medium=RSS&at_campaign=KARANGA
	Tech View: Nifty50 sees selling at 20-EMA; stay neutral, say analysts Amol Athawale of Kotak Securities said Nifty has traded above the 50-day SMA, but is seeing profit booking near the 20-day SMA or 17,800 level. Read more at: https://economictimes.indiatimes.com/markets/stocks/news/tech-view-nifty50-sees-selling-at-20-ema-stay-neutral-say-analysts/articleshow/89349911.cms
	Market Movers: This ex-Big Bull stock tanks on slashing revenue guidance The company, in which ace investor Rakesh Jhunjhunwala held stake till December 2020, cut its FY22 revenue guidance to 14-14.5 per cent from 14.5-15.5 per cent earlier Read more at: https://economictimes.indiatimes.com/markets/stocks/news/market-movers-this-ex-big-bull-stock-tanks-on-slashing-revenue-guidance/articleshow/89349601.cms
	Shree Cement Q3 Results: Net profit falls 21.4% YoY to Rs 492 cr The board declared an interim dividend of Rs 45 per share for FY22, payable to those who hold shares on record date fixed by the company, i.e. Saturday, February 12. Read more at: https://economictimes.indiatimes.com/markets/stocks/earnings/shree-cement-q3-results-net-profit-falls-21-4-yoy-to-rs-492-cr/articleshow/89346071.cms
	Personal Finance Daily: How to tackle your holiday-spending debt and Medicare users will get more access to free at-home COVID-19 tests Friday’s top personal finance stories. Read more at: http://www.marketwatch.com/news/story.asp?guid=%7B20C05575-04D4-B545-7908-523C88322EC7%7D&siteid=rss&rss=1
	The Margin: NBC’s Mike Tirico tackles ‘sportswashing’ and China’s treatment of Uyghur Muslims “Everything and everyone attached to these Games is facing questions,” Tirico said. Read more at: http://www.marketwatch.com/news/story.asp?guid=%7B20C05575-04D4-B545-7903-A93DAE1D05AC%7D&siteid=rss&rss=1
	Sustainable Investing: Beat inflation with 3 stocks that bet against oil in favor of EVs and the renewable-power grid SPEAR Alpha ETF’s Ivana Delevska likes a lithium stock, a clean-energy theme and this major player in the EV-charging space. Read more at: http://www.marketwatch.com/news/story.asp?guid=%7B20C05575-04D4-B545-78F9-AC8D5ECCE0B6%7D&siteid=rss&rss=1

04Feb2022 Market Close & Major Financial Headlines: DOW Loses Grip With Sudden Fall, But U.S. Stocks Finish Week Higher, DOW Closes down 21 points from the session high, NASDAQ Up 1.6%, S&P 500 Up 0.5%, WTI Crude 92.22, Bitcoin Higher At 40600, USD 95.43

Headlines:

The Market in Perspective

Turkey And Israel Could Work Jointly To Ship Gas To Europe

Cold Spell In Permian Sends Oil Prices Even Higher

U.S. Rig Count Rises For 15th Straight Week As WTI Nears $93

Chevron In Talks with Venezuela To Boost Oil Production

U.S. Gasoline Prices Soar To 2014 High

Russian Diesel Exports To U.S. at Three-Year High

Moderna’s Covid vaccine for teens awaits OK as regulators review heart inflammation risk

Bodegas are looking to zoning laws to defend their turf against instant delivery start-ups

Kohl’s says takeover offers undervalue its business, initiates ‘poison pill’

American Dream megamall nearly empties its reserves to make a bond payment

Thiel Capital and regional airline Mesa invest in electric seaglider start-up Regent

It’s time to ‘move on’ from the pandemic, says Harvard medical professor

Southwest will bring booze back on board Feb. 16 after nearly two years

Cutting-edge gallium nitride tech could help EVs charge three times faster

Volvo and Northvolt to build gigafactory in Sweden with a former Tesla exec in charge

Gas prices climb to highest level in more than 7 years as oil surges above $90

Stocks making the biggest moves midday: Amazon, Snap, Ford, Clorox and more

Inflation means price jumps for dinner and a dozen roses this Valentine’s Day

Jim Cramer says Estee Lauder’s post-earnings stock decline is a buying opportunity

Attack Of The Transphobic Putin-Nazi Truckers!

Cryptos Jump, Stocks Slump As Bonds & The Dollar Dump

Tesla Stops Scheduling Solar Roof installs Due To “Supply Chain Issues”

When Fauci Told The Truth About Masking

Backlash after Bank boss says don’t ask for big pay rise

US jobs growth stronger than expected as economy shrugs off Omicron

Energy price rise includes £68 for failed firms, says Ofgem

Tech View: Nifty50 sees selling at 20-EMA; stay neutral, say analysts

Market Movers: This ex-Big Bull stock tanks on slashing revenue guidance

Shree Cement Q3 Results: Net profit falls 21.4% YoY to Rs 492 cr

Personal Finance Daily: How to tackle your holiday-spending debt and Medicare users will get more access to free at-home COVID-19 tests

The Margin: NBC’s Mike Tirico tackles ‘sportswashing’ and China’s treatment of Uyghur Muslims

Sustainable Investing: Beat inflation with 3 stocks that bet against oil in favor of EVs and the renewable-power grid

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