22Feb2022 Market Close & Major Financial Headlines: DOW Closed Down 483 points For A Fourth Straight Session, NASDAQ Down 1.2%, S&P 500 Down 1.0%, Indexes Falling Below The 200 SMA Is Almost A Sure Bet

Russias Natural Gas Will Be Almost Impossible To Replace

One of the worlds largest liquefied natural gas exporters, Qatar, can divert only 10-15 percent of its LNG cargo contracts to other destinations, Qatari Energy Minister Saad al-Kaabi said on Tuesday amid the escalation of the Russia-Ukraine crisis, adding that replacing Russian gas deliveries to Europe in the short term is almost impossible. The energy markets reacted on Tuesday after Russian President Vladimir Putin recognized two breakaway regions in eastern Ukraine and ordered troops in them, with oil prices soaring close

Read more at: https://oilprice.com/Energy/Energy-General/Russias-Natural-Gas-Will-Be-Almost-Impossible-To-Replace.html

Soaring Battery Demand And Ukraine Conflict Sends Nickel Prices To Decade High

Nickel prices soared to the highest level in more than a decade amid skyrocketing demand for electric cars, as the Ukraine crisis added to supply concerns. The combination of nickel-cobalt aluminum is the chemistry behind electric car batteries. Nickel is one of the crucial metals by mass in lithium-ion battery cathodes. Rapidly increasing demand for electric cars has tightened supplies for the metal and pushed prices on the London Metal Exchange to levels not seen since 2011. Besides rising electric car popularity, the crisis over Ukraine

Read more at: https://oilprice.com/Latest-Energy-News/World-News/Soaring-Battery-Demand-And-Ukraine-Conflict-Sends-Nickel-Prices-To-Decade-High.html

Oil Prices Climb On A Bounty Of Bullish Catalysts

Oil prices appear to be on an unstoppable march toward $100, with Ukraine sending troops into Ukraine, OPEC failing to hit its production targets, and industry CEOs predicting still higher prices. – Oil prices rose to their highest level since 2014 after Moscow recognized the independence of the breakaway regions of Donetsk and Luhansk and moved its troops into eastern Ukraine, aggravating European supply concerns.- Spot Brent prices have been trading above the $100 per barrel since last week, now even ICE Brent futures seem to be climbing

Read more at: https://oilprice.com/Energy/Energy-General/Oil-Prices-Climb-On-A-Bounty-Of-Bullish-Catalysts.html

Bank Of America: The Ukraine Crisis Could Send Oil Prices $20 Higher

Oil prices could jump by up to another $20 per barrel if the Russia-Ukraine crisis escalates further, according to Bank of America (BofA) Global Research. The latest escalation of the Russia-Ukraine standoff sent oil prices surging close to $100 a barrel early on Tuesday. Brent Crude prices hit a new seven-year high of $99.50 before easing to $97 per barrel. Late on Monday, Russian President Vladimir Putin recognized two separatist regions in eastern Ukraine and ordered the deployment of troops there in the most serious escalation of the crisis

Read more at: https://oilprice.com/Latest-Energy-News/World-News/Bank-Of-America-The-Ukraine-Crisis-Could-Send-Oil-Prices-To-120.html

Banks Have Spent $1.5 Trillion On Coal Since 2019

As the global green energy transition has gained traction, the movement away from fossil fuels and toward renewable and low-carbon energy sources has been marked by ups and downs and wide gaps between rhetoric and practice. Public and private leaders of policy and industry alike have been (relatively) quick to make climate pledges and align themselves on the side of decarbonization, but actual action plans and concrete steps toward sweeping and lasting change have been harder to come by. In a certain sense, this is a very understandable dilemma;

Read more at: https://oilprice.com/Energy/Coal/Banks-Have-Spent-15-Trillion-On-Coal-Since-2019.html

Ukraine Conflict And Inflation Fears Could Push Gold Prices Above $2,000

Gold prices have rebounded this month, with the precious metal glittering in the gloom amid escalating tensions between Russia and the West. The commodity has soared from $1,791 per ounce at the end of January to $1,904 earlier this week, with prices currently hovering around the $1,900 milestone. The Kremlins positioning of nearly 200,000 troops within close proximity to Ukraines borders, followed by Putins decision to recognize the independence of two breakaway rebel-held states has provided gold with fresh impetus from nervous

Read more at: https://oilprice.com/Latest-Energy-News/World-News/Ukraine-Conflict-And-Inflation-Fears-Could-Push-Gold-Prices-Above-2000.html

One key to Home Depot’s growth strategy: Nabbing bigger orders from home professionals

The home improvement retailer is building supply chain hubs that can accommodate large orders, such as thousands of square feet of flooring.

Read more at: https://www.cnbc.com/2022/02/22/home-depot-wants-to-win-home-professionals-bigger-orders.html

Covid infections plummet 90% from U.S. pandemic high, states lift mask mandates

As omicron wave fades, the U.S. is trying to move past the crisis mentality that has gripped the nation for two years.

Read more at: https://www.cnbc.com/2022/02/22/covid-infections-plummet-90percent-from-us-pandemic-high-states-lift-mask-mandates.html

From Tesla to Jeep: The end of 3G networks is a problem for millions of car owners

Millions of vehicles will lose some emergency and convenience features as AT&T and other carriers discontinue their 3G networks.

Read more at: https://www.cnbc.com/2022/02/22/from-tesla-to-jeep-the-end-of-3g-networks-is-a-problem-for-millions-of-car-owners.html

Airbus plans to test hydrogen engine on A380 jumbo jet to fly in 2026

Airbus is working with engine maker CFM, a joint venture of General Electric-Safran for the modified A380 plane.

Read more at: https://www.cnbc.com/2022/02/22/-airbus-plans-to-test-hydrogen-engine-on-a380-jumbo-jet-to-fly-mid-decade.html

Fatburger parent’s stock craters after company discloses investigation into CEO

Fat Brands said it is cooperating with the investigation.

Read more at: https://www.cnbc.com/2022/02/22/fatburger-parents-stock-craters-after-company-discloses-investigation-into-ceo.html

How Americans can save money when choosing a health insurance plan

A large study of a Fortune 100 company found that more than 60% of participants chose the wrong health insurance plan for their needs.

Read more at: https://www.cnbc.com/2022/02/22/picking-best-health-insurance-plan.html

Don’t panic. Here’s how to keep your emotions out of your investment decisions

It’s normal to panic. The key is not to act on it, says psychologist Brad Klontz. Here are his techniques to stop emotions from ruling your financial life.

Read more at: https://www.cnbc.com/2022/02/22/how-to-control-your-emotions-during-stock-market-volatility.html

Peloton resolves major outage after connected fitness classes went offline

Peloton’s connected fitness services appear to be working again for most users, after the company suffered a major outage Tuesday morning.

Read more at: https://www.cnbc.com/2022/02/22/peloton-hit-by-major-outage-company-says-investigating-the-issue.html

Here’s why Macy’s isn’t splitting its online business from its stores

Macy’s said it will forge ahead as one retailer, despite pressure from activist Jana Partners to split into two entities.

Read more at: https://www.cnbc.com/2022/02/22/heres-why-macys-isnt-splitting-its-online-business-from-its-stores.html

Supreme Court takes up clash over Colorado law’s protection for same-sex weddings

The high court will hear the challenge to a Colorado law that bars businesses from refusing to serve customers based on their sexual orientation.

Read more at: https://www.cnbc.com/2022/02/22/supreme-court-takes-up-clash-over-colorado-laws-protection-for-same-sex-weddings.html

Toyota and Yamaha are developing a hydrogen-fueled V8 engine

The notion of powering an internal combustion engine with hydrogen is not a new one.

Read more at: https://www.cnbc.com/2022/02/22/toyota-commissions-yamaha-motor-to-develop-hydrogen-fueled-engine.html

Holiday weekend air travel surges to highest levels since Thanksgiving as Covid cases continue to drop

Airline executives have said they are logging strong late winter and spring bookings.

Read more at: https://www.cnbc.com/2022/02/22/us-air-travel-surges-as-covid-cases-continue-to-drop.html

Krispy Kreme reports first quarterly profit since going public, fueled by strong holiday sales

Krispy Kreme reported its first quarterly profit since going public again but fell short of Wall Street’s expectations for its earnings.

Read more at: https://www.cnbc.com/2022/02/22/krispy-kreme-reports-first-quarterly-profit-since-going-public-fueled-by-strong-holiday-sales.html

Pre-Amble To WW3 Sends Stocks & Bonds Lower; Gold & Crude Higher

Pre-Amble To WW3 Sends Stocks & Bonds Lower; Gold & Crude HigherThe main pain felt in the world from Putin’s actions so far has been in Russian stocks and the Ruble, but a lack ofr substance to Biden’s sanctions offered some respite late on to the risk-off day…

MOEX is down around 30% from its highs, the biggest drawdown since 2014 (but we note MOEX rallied late on after Biden’s speech)…

Source: Bloomberg

And the Ruble is down, but interestingly rallied late on today as Biden spoke prompting markets to unwind some geopolitical risk premium on the damp-squid Biden release (No major banks targeted, No energy sanction beyond NS2, No SWIFT payment system threats/action)…

Read more at: https://www.zerohedge.com/markets/putins-pre-amble-ww3-sends-stocks-bonds-lower-gold-crude-higher

“Very Similar To 2018”: Why Wall Street’s Biggest Bear Sees Stocks Tumbling To 3,800 By Late March

“Very Similar To 2018”: Why Wall Street’s Biggest Bear Sees Stocks Tumbling To 3,800 By Late MarchNow that a cottage industry has emerged practically overnight, with Wall Street firms rushing to offer their predictive services as to what will happen as a result of the Russia-Ukraine conflict (a conflict most of them dismissed ahead of time), and how various markets will respond to further escalation and de-escalation (such as Goldman), one bank is refreshingly honest in its admission that it doesn’t really know what happens next.

In his latest Weekly Warm-Up note, Morgan Stanley chief equity strategist Michael Wilson – a/k/a Wall Street’s Biggest Bear – writes that over the past few weeks,  “Russia/Ukraine headlines have taken center stage for markets but our work suggests slowing growth is just as important. While we have no edge on whether Russia will invade Ukraine, a lot has been priced.”

According to Wilson, “while we have no particular edge in predicting what happens next in the Russia/Ukraine situation, we’re not sure anyone really does.”  Instead, in situations like this, he says that he look to the markets for insights, as the wisdom of crowds often has a better chance of predicting the outcome than we do. But on that score, “it’s messy, too. While there has been a flight to safety in Gold and Treasuries, Brent crude has stalled out in the low 90s and shows signs of exhaustion on some technical indicators (DeMark and oscillator divergences).”

“The bottom line,” according to Wislon, is that “the markets are sending mixed signals in our view.”

Read more at: https://www.zerohedge.com/markets/very-similar-2018-why-wall-streets-biggest-bear-sees-stocks-tumbling-3800-late-march

Canadian Lawmaker Claims Single Mom Had Bank Account Frozen After Donating $50 To Freedom Convoy

Canadian Lawmaker Claims Single Mom Had Bank Account Frozen After Donating $50 To Freedom ConvoyAuthored by Katabella Roberts via The Epoch Times,

Canadian politician Mark Strahl on Feb. 20 claimed that a single mom with a minimum wage job had her bank account frozen after she “legally” donated $50 to the Freedom Convoy.

Strahl, a Conservative, took to Twitter to criticize Prime Minister Justin Trudeau for the Emergencies Act, which was invoked for the first time in Canada’s history to address the impact of the ongoing protests against COVID-19 mandates and restrictions by truckers and their supporters.

“Briane is a single mom from Chilliwack working a minimum wage job,” Strahl wrote on Twitter on Feb. 20.

“She gave $50 to the convoy when it was 100% l …

Read more at: https://www.zerohedge.com/political/canadian-lawmaker-claims-single-mom-had-bank-account-frozen-after-donating-50-freedom

Qatar Says It Can’t Replace Russian Gas Supplies To Europe

Qatar Says It Can’t Replace Russian Gas Supplies To EuropeThis morning, the FT summarized well the problem facing Europe as it decides whether to unleash draconian sanctions on Russia:

“Business magazine Wirtschaftswoche encapsulated the problem with a recent cover: Vladimir Putin controls Germany the way a dealer controls a junkie. Natural gas is the drug of choice.

The shrewdness of Putin’s strategy is clear now Russian tanks are rolling. Effective sanctions would ban Russian energy exports, or payments for them via the international banking system. But that severe blow to Russia’s resource-dependent economy would badly hurt Germans. The energy policy errors of their leaders are woefully apparent.

Chancellor Olaf Scholz has only halted a second pipeline, Nord Stream 2, now that Russia is invading eastern Ukraine. This would have doubled the capacity of imports to 110bn cubic metres.

The first Nord Stream pipeline system already supplies two-thirds of Germany’s imported energy. Half Germany’s 40m households keep warm using natural gas, 97 per cent of it from overseas.

Needless to say, the underlying logic behind this strategy is not lost on the Russians, and this morning none other than Putin’s right hand man Dmitry Medvedev trolled the west, tweeting that “German Chancellor Olaf Scholz has issued an order to halt the process of certifying the Nord Stream 2 gas pipeline” and gloating: “welcome to the brave new world where Europeans are very soon going to pay €2.000 for …

Read more at: https://www.zerohedge.com/markets/qatar-says-it-cant-replace-russian-gas-supplies-europe

Russia’s plan to fight back against Western sanctions

President Putin has made changes to protect the Russian economy since it first was hit by sanctions in 2014.

Read more at: https://www.bbc.co.uk/news/business-60480904?at_medium=RSS&at_campaign=KARANGA

Boots to sell £6 Covid tests ahead of rule change

Four-packs of lateral flow tests will be on sale for £17 from Wednesday despite free tests remaining until 1 April.

Read more at: https://www.bbc.co.uk/news/business-60486323?at_medium=RSS&at_campaign=KARANGA

Ukraine-Russia tensions: Oil surges on supply fears

Crude oil prices rise on Ukraine crisis, prompting warnings of higher UK petrol prices.

Read more at: https://www.bbc.co.uk/news/business-60473233?at_medium=RSS&at_campaign=KARANGA

Day Trading Guide: 2 stock recommendations for Wednesday

If bulls fail to protect this support of 16,800, corrections could extend to levels of 16,400 which was the low of December last year and then 16,000 a psychological support level.

Read more at: https://economictimes.indiatimes.com/markets/stocks/news/day-trading-guide-2-stock-recommendations-for-wednesday/articleshow/89752408.cms

Tech View: Nifty50 defends key support, forms bullish candle

Nifty50 has managed to defend the critical support of 16,800 level for the third time since January 25, said Mazhar Mohammad of Chartviewindia.in.

Read more at: https://economictimes.indiatimes.com/markets/stocks/news/tech-view-nifty50-defends-key-support-forms-bullish-candle/articleshow/89750304.cms

Five lessons from Shark Tank India for stock market investors

Although the show is designed as a platform for budding entrepreneurs to raise funds, new investors in the stock market can learn a lot from investing strategies from the sharks. Here are five such lessons from Shark Tank India episodes.

Read more at: https://economictimes.indiatimes.com/markets/stocks/news/five-lessons-from-shark-tank-india-for-stock-market-investors/articleshow/89742433.cms

The Margin: Should Clarence Thomas resign? New York Times story about Supreme Court justice and his wife, conservative activist Ginni Thomas, sparks outcry

The New York Times probes Ginni Thomas’s role to keep Donald Trump as president, sparking calls for an investigation of Supreme Court Justice Clarence Thomas.

Read more at: http://www.marketwatch.com/news/story.asp?guid=%7B20C05575-04D4-B545-798E-72B632DA7858%7D&siteid=rss&rss=1

Commodities Corner: U.S. drivers brace for the highest prices in 9 years as oil approaches $100 a barrel

U.S. drivers are looking at the highest prices for gasoline at the pump since at least 2013, with prices for oil eyeing $100 a barrel — a level it hasn’t reached in more than seven years — in the wake of Russia’s move into Ukraine.

Read more at: http://www.marketwatch.com/news/story.asp?guid=%7B20C05575-04D4-B545-798E-3AE929A65276%7D&siteid=rss&rss=1

Economic Report: Home prices increase at fastest rate in 34 years in December, but rising mortgage rates remain a threat

Economists expect that the pace of home-price growth will slow in the face of rising interest rates.

Read more at: http://www.marketwatch.com/news/story.asp?guid=%7B20C05575-04D4-B545-7986-CA1A3399FE30%7D&siteid=rss&rss=1