07Feb2022 Market Close & Major Financial Headlines: Markets Opened Higher, Then Sea-Sawed To Seriously Negative, Dow Closed Up One Lousy Point, NASDAQ Down 0.8%, Gold Up 1821, WTI Slips To 91.50, Bitcoin Improves 44200

Goldman Sachs Sees Shortage On All Commodity Markets

All commodity markets are in a state of shortage right now, Jeff Currie, global head of commodities research at Goldman Sachs, said on Monday, noting that he had never seen anything like the current tightness in his 30-year-long career. Ive been doing this 30 years and Ive never seen markets like this, Currie told Bloomberg TV in an interview on Monday. This is a molecule crisis. Were out of everything, I dont care if its oil, gas, coal, copper, aluminum, you name it were out of it,

Read more at: https://oilprice.com/Energy/Energy-General/Goldman-Sachs-Sees-Shortage-On-All-Commodity-Markets.html

Saudi Arabia Is Doubling Down On Oil Production

The worlds largest oil exporter, Saudi Arabia, believes there will still be a market for its crude decades from now and plans to boost its production capacity while some other oil companies are limiting investments in oil in the energy transition, Saudi Arabias Energy Minister, Prince Abdulaziz Bin Salman, told TIME in an interview published on Sunday. Saudi Arabias oil giant Aramco targets to increase its oil production capacityto 13 million barrels per day(bpd) by 2027 from 12 million bpd now. It also aims to

Read more at: https://oilprice.com/Latest-Energy-News/World-News/Saudi-Arabia-Is-Doubling-Down-On-Oil-Production.html

Heating Oil And Diesel Stocks Dwindle While Demand Climbs

Supplies of diesel and heating oil in the United States have dwindled as refiners are having trouble replenishing the domestic fuel supply this winter, which may keep oil prices elevated for months.Heating oil futures reached $2.83 per gallon at the markets close on Feb. 4, the highest price in seven years. U.S. and global benchmarks for crude-oil futures hit above $90 a barrel, as a harsh winter storm affected large portions of the country, adding to existing supply concerns.The latest national average price for diesel was at $3.78 per

Read more at: https://oilprice.com/Energy/Energy-General/Heating-Oil-And-Diesel-Stocks-Dwindle-While-Demand-Climbs.html

Can Macron And Putin Cool Tensions Over Ukraine?

In a bid to avert a war over Ukraine, and with energy security high on the agenda, French President Emmanuel Macron is in Moscow on Monday where he and Russian President Vladimir Putin have kicked off what’s expected to be “substantive and quite prolonged” talks, as the Kremlin previewed it. Throughout the past weeks of boiling tensions it’s largely been Germany and France leading attempts to pursue robust diplomacy, quite apart from constant sanctions threats and talk of military options out of Washington. Macron said in a weekend interview with

Read more at: https://oilprice.com/Geopolitics/Europe/Can-Macron-And-Putin-Cool-Tensions-Over-Ukraine.html

U.S. Gasoline Prices Set To Ease

After hitting a peak of $3.45 per gallon last week, the national average U.S. gasoline prices are expected to calm down significantly this week due to price cycling, Patrick De Haan, head of petroleum analysis for fuel-savings app GasBuddy, said on Monday. The national average saw over the past week one of its largest weekly jumps in the last year or so, De Haan tweeted on Monday, but added that average gasoline prices should calm down significantly this week. According to GasBuddy, prices are actually down by $0.03 per gallon from the $3.45/gal

Read more at: https://oilprice.com/Latest-Energy-News/World-News/US-Gasoline-Prices-Set-To-Ease.html

Low Cushing Inventories Could Lead To Higher Oil Prices

Crude oil inventories at Cushing, Oklahomathe designated delivery point for WTI Crude oil futures contractshave been falling for the past four weeks, reaching what could be uncomfortably low levels and pointing to a potential further upside for oil prices. In the latest reporting week to January 28, the U.S. Energy Information Administration (EIA) said that Cushing crude inventories fell to 30.5 million barrels, down by 1.2 million from the previous week. Cushing inventories are now down by 37.3 percent compared to this time of the

Read more at: https://oilprice.com/Energy/Crude-Oil/Low-Cushing-Inventories-Could-Lead-To-Higher-Oil-Prices.html

Shock then relief: An Arkansas theater says its denied Covid relief grant was overturned

The Studio Theatre was initially denied a grant by the SBA in July 2021 because it does not pay its performers.

Read more at: https://www.cnbc.com/2022/02/07/svog-arkansas-studio-theatre-has-a-denied-covid-relief-grant-overturned.html

Feds will spend $1 billion to spur farmers and ranchers to fight climate change

The investment comes after the Biden administration pledged to slash climate-changing greenhouse gas emissions from the agriculture sector in half by 2030.

Read more at: https://www.cnbc.com/2022/02/07/usda-to-spend-1-billion-on-agriculture-projects-tackling-climate-change.html

Spirit and Frontier are merging into a massive discount airline. Here’s what that means for travelers

Spirit and Frontier overlap on more than 500 routes.

Read more at: https://www.cnbc.com/2022/02/07/heres-what-the-spirit-and-frontier-airlines-merger-means-for-travelers.html

‘Matrix’ co-producer sues Warner Bros. over same-day HBO Max streaming release

Village Roadshow has filed a lawsuit against Warner Bros. over its decision to release “The Matrix Resurrections” in theaters and on HBO Max at the same time.

Read more at: https://www.cnbc.com/2022/02/07/matrix-co-producer-sues-warner-bros-over-hbo-max-streaming-release.html

Stocks making the biggest moves midday: Spirit Airlines, Peloton, Snowflake, Netflix and more

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

Read more at: https://www.cnbc.com/2022/02/07/stocks-making-the-biggest-moves-midday-spirit-airlines-peloton-snowflake-netflix-and-more.html

Astra shares drop 14% after rocket launch attempt aborted and postponed

Small rocket builder Astra is attempting to launch its first mission from Florida on Monday.

Read more at: https://www.cnbc.com/2022/02/07/watch-rocket-builder-astra-launch-first-florida-mission-for-nasa.html

Aging homes with higher values could help Home Depot and Lowe’s ring up sales this spring

The home improvement retailers, however, will have to overcome rising interest rates and compete for consumers’ attention.

Read more at: https://www.cnbc.com/2022/02/07/aging-homes-with-higher-values-could-help-home-depot-and-lowes-this-spring.html

Peloton shares are soaring on potential takeover talks. But here’s why a deal might not happen

Cowen & Co. analyst John Blackledge said a deal is unlikely for Peloton, given that the connected fitness company is still in the “early innings” of growth.

Read more at: https://www.cnbc.com/2022/02/07/peloton-shares-up-on-takeover-talks-heres-why-a-deal-might-not-work.html

Frontier and Spirit to merge, creating fifth-largest airline in U.S. in $6.6 billion deal

Frontier Airlines and Spirit Airlines have agreed to merge, creating what would become the fifth-largest airline in the country.

Read more at: https://www.cnbc.com/2022/02/07/frontier-and-spirit-to-merge-creating-5th-largest-airline-in-us.html

World’s biggest companies accused of exaggerating their climate actions

The study assessed the transparency of each firm’s headline climate pledges and gave them an “integrity” rating.

Read more at: https://www.cnbc.com/2022/02/07/study-worlds-biggest-firms-seen-exaggerating-their-climate-actions.html

China’s zero-Covid strategy ‘won’t work’ against omicron, says U.S. epidemiologist

Beijing may not be able to use the same “authoritarian approaches” against omicron because this variant is unlike the others, says a top U.S. epidemiologist.

Read more at: https://www.cnbc.com/2022/02/07/chinas-zero-covid-policy-will-not-work-with-omicron-epidemiologist.html

Tequila could overtake vodka as America’s favorite liquor as sales boom

Tequila and mezcal was the second-fastest growing spirits category in 2021, according to the Distilled Spirits Council of the U.S.

Read more at: https://www.cnbc.com/2022/02/05/tequila-could-overtake-vodka-as-americas-top-liquor-as-sales-boom.html

Op-ed: First-generation Black wealth builders must embrace their success and put themselves first

First-generation Black wealth builders have to make sure they’re taking care of themselves financially before reaching out to help the wider Black community.

Read more at: https://www.cnbc.com/2022/02/07/first-generation-black-wealth-builders-have-to-put-themselves-first.html

Bitcoin & Bullion Surge, Stocks Purge, As EU Credit Crisis Risk Re-Emerges

Bitcoin & Bullion Surge, Stocks Purge, As EU Credit Crisis Risk Re-EmergesThe biggest headlines of the day – apart from Joe-Rogan-related ones – came out of Europe as sovereign yield spreads starting act a lot like 2011 as the market fears facing reality of an ECB that is about to turn off the free-money spigot.

Source: Bloomberg

As the yield-spreads blow out wider, so the risk of an ‘exit’ of one of the peripheral nations grows, and today saw the market start betting on ‘Italeave’…

Read more at: https://www.zerohedge.com/markets/bitcoin-bullion-surge-eu-credit-crisis-risk-re-emerges

Biden Presses Reluctant German Chancellor On Halting Nord Stream 2, Imposing Russia Sanctions

Biden Presses Reluctant German Chancellor On Halting Nord Stream 2, Imposing Russia SanctionsMacron was in Moscow in talks with Putin, and German Chancellor Olaf Scholz was in Washington meeting with Biden on Monday. Despite Germany lately coming under heavy criticism from the more hawkish corners of the NATO alliance for its less than muscular response to the Ukraine crisis, Biden told reporters while welcoming Scholz that they are “in lockstep” on “confronting Russian aggression” at Ukraine’s border.

Going into the meeting, admin officials said the two leaders would spend time talking about a “robust sanctions package” aimed at Moscow in the event of a military offensive. However, Scholz has not indicated willingness to go along with any level of punitive economic measures, given also Germany’s close trade and energy ties with Russia, not the least of which still looms large in the background is Nord Stream 2.

“Germany is one of America’s closest allies. We’re working in lockstep to further deter Russian aggression in Europe,” Pres. Biden says during meeting with German Chancellor Olaf Scholz. https://t.co/FTICr9WzP4 pic.twitter.com/al0ffdfhIE

— ABC News Politics (@ABCPolitics) February 7, 2022

On this matter, the White House indicated Biden is pressing t …

Read more at: https://www.zerohedge.com/geopolitical/biden-presses-reluctant-german-chancellor-halting-nord-stream-2-imposing-russia

CDC Signals Changes To COVID Vaccine Schedule, In Part To Address Heart Inflammation

CDC Signals Changes To COVID Vaccine Schedule, In Part To Address Heart InflammationAuthored by Zachary Stieber via The Epoch Times,

The Centers for Disease Control and Prevention (CDC) on Feb. 4 outlined an expected change to the COVID-19 vaccine schedule for people with weak immune systems and signaled that a different alteration is coming for the general population to try to cut the number of post-vaccination heart inflammation cases.

The CDC told its vaccine advisory panel that it’s planning to adjust guidance for people with compromised immune systems, a group that doesn’t respond as well to vaccines as the general population and is the only population that is advised to get

Read more at: https://www.zerohedge.com/covid-19/cdc-signals-changes-covid-vaccine-schedule-part-address-heart-inflammation

Consumer Debt Growth Tumbles 50% Amid Sharp Slowdown In Credit Card Usage, Decline In Student Loans

Consumer Debt Growth Tumbles 50% Amid Sharp Slowdown In Credit Card Usage, Decline In Student LoansOne month after a shocking consumer credit report, which saw the biggest increase in history driven by a mind-blowing surge in revolving credit (i.e., credit card usage), moments ago the Fed released the latest consumer credit report for the month of December which saw a dramatic drop in growth rate, with total credit rising just $18.9BN, well below the consensus estimate of $25 billion, and a 50% plunge from the November increase of $38.8 billion.

Some details:

In the last month of the year, consumer credit rose at a 5.1% annual rate to $4.431trillion, according to the Federal Reserve. The total increase was $18.898BN from the previous month.

Looking at the components, the big highlight was the collapse in credit card growth, which one month after surging at a record monthly pace of $19.3 billion, collapsed to just $2.11 billion, the …

Read more at: https://www.zerohedge.com/economics/consumer-debt-growth-tumbles-50-amid-sharp-slowdown-credit-card-usage-decline-student

Asda in cheap food promise after Jack Monroe complaints

The supermarket vows to stock its budget range in all stores after the food activist criticised shortages.

Read more at: https://www.bbc.co.uk/news/business-60287010?at_medium=RSS&at_campaign=KARANGA

Primark accused of selling ‘hugely sexist’ kids clothes

Author Kate Long shared images of girls’ items telling them to “be kind” or “keep on smiling”.

Read more at: https://www.bbc.co.uk/news/business-60290232?at_medium=RSS&at_campaign=KARANGA

Beer prices will have to rise, says Cobra founder

A “vicious cycle” of rising costs means nearly all businesses are being squeezed, Lord Bilimoria says

Read more at: https://www.bbc.co.uk/news/business-60287007?at_medium=RSS&at_campaign=KARANGA

Ahead of Market: 12 things that will decide stock action on Tuesday

“For Nifty50, the 17,000 is the crucial support followed by the swing low of 16,836, any breach of which can trigger a major concern for investors. 17,380 is expected to act as the immediate resistance.”

Read more at: https://economictimes.indiatimes.com/markets/stocks/news/ahead-of-market-12-things-that-will-decide-stock-action-on-tuesday/articleshow/89412535.cms

Tech View: Nifty slips below 50-DMA; 17,000 seen as immediate support

“For Nifty50, the 17,000 is the crucial support followed by the swing low of 16,836, any breach of which can trigger a major concern for investors. On the higher end, the 50 per cent Fibonacci, placed around 17,380, is expected to act as the immediate resistance,” Krishan said.

Read more at: https://economictimes.indiatimes.com/markets/stocks/news/tech-view-nifty-slips-below-50-dma-17000-seen-as-immediate-support/articleshow/89407808.cms

Govt cancels securities auction scheduled for Feb 11

India’s government had planned to auction 220 billion worth of bonds on Feb. 11.

Read more at: https://economictimes.indiatimes.com/markets/bonds/govt-cancels-securities-auction-scheduled-for-feb-11/articleshow/89413094.cms

Bond Report: Treasury yields hold steady near multiyear highs to start second week in February

Yields for government debt retreat Monday, taking a breather after the 2- and 10-year rates hit the highest levels in years, following the jobs report.

Read more at: http://www.marketwatch.com/news/story.asp?guid=%7B20C05575-04D4-B545-790B-8A81C64B4DD4%7D&siteid=rss&rss=1

: Jeff Bezos suggests D.C. public library honor his ‘dear friend’ Toni Morrison instead of him (after a public outcry)

Bezos donated $2.7 million for a literacy program that could reach an estimated 42,000 children.

Read more at: http://www.marketwatch.com/news/story.asp?guid=%7B20C05575-04D4-B545-7910-31D2CBF30607%7D&siteid=rss&rss=1

In One Chart: Stock-market bounce: Why it’s ‘too soon to go all in’ on buying the dip

Stock-market investors appear eager to buy the dip after a rough January, but the bounce looks suspect, says Morgan Stanley Wealth Management’s Lisa Shalett.

Read more at: http://www.marketwatch.com/news/story.asp?guid=%7B20C05575-04D4-B545-790D-2E068AB1231C%7D&siteid=rss&rss=1