26 September 2022 Market Close & Major Financial Headlines: Today’s Session Behaved Much Like Friday, Down Fractionally And Trading Sideways. US Dollar Weakens, Crude Prices Fall As Investors Fear Feds Next Move

Is The Nuclear Waste Problem Overblown?

In the previous article, I discussed some of the developments that are taking place to make nuclear power safer, such that major accidents like those at Chernobyl and Fukushima are simply no longer possible. But the other major issue nuclear opponents generally raise is what to do with the radioactive waste that is generated during the production of nuclear power. I posed this question to Dr. Kathryn Huff, the Assistant Secretary at the Department of Energy’s (DOE) Office of Nuclear Energy. Addressing Nuclear Waste The good news is that the

Read more at: https://oilprice.com/Alternative-Energy/Nuclear-Power/Is-The-Nuclear-Waste-Problem-Overblown.html

A Perfect Storm Is Brewing In Aluminum Markets

Via AG Metal MinerAluminum supply continues to shrink thanks to smelter shutdowns caused by ongoing energy shortages. Aluminum prices enjoyed a brief rebound following the Feds latest rate hike of three-quarters of a point. However, in the short term, aluminum prices remain in a downward trend. Earlier this week, MetalMiner noted how smelter shutdowns in China and Europe were impacting the aluminum market. Indeed, demand continues to drop in places like China, where construction has yet to hit full force after years of COVID-19 shutdowns.

Read more at: https://oilprice.com/Metals/Commodities/A-Perfect-Storm-Is-Brewing-In-Aluminum-Markets.html

U.S. Gasoline Prices Break Losing Streak

Gasoline prices rose 3.2 cents from a week ago, according to new GasBuddy data published on Monday. The price hike is the first in 14 weeks. The national average for a gallon of gasoline in the United States rose to $3.67 on Monday, GasBuddy data showed. Meanwhile, diesel prices continued to fall. Behind Monday’s price rise are in part, refinery outages, along with unseasonably low inventories. Last week, a fire broke out at BPs 160,000 BPD refinery in Toledo, taking the facility offline. Refinery issues in particular regions of the

Read more at: https://oilprice.com/Latest-Energy-News/World-News/US-Gasoline-Prices-Break-Losing-Streak.html

Kazahstan On Edge As Russians Scramble To Avoid Putins Mobilization

No sooner had Russian President Vladimir Putin announced a partial mobilization to get Russia’s flagging invasion of Ukraine back on track than it was like February 24 all over again. Russians again are descending on neighbors in the former Soviet region at pace. This week’s mobilization order has seen long, slow-moving queues form at Russia’s borders and spiking airfares for flights leaving the country just like the weeks following Russia’s invasion of Ukraine. But if the first wave of Russian

Read more at: https://oilprice.com/Geopolitics/International/Kazahstan-On-Edge-As-Russians-Scramble-To-Avoid-Putins-Mobilization.html

U.S. Fuel Exports Broke Records In The First Half Of 2022

U.S. exports of petroleum products jumped by 11% to a record 6 million barrels per day (BPD) in the first half of 2022, with exports growing at their fastest pace in five years, the Energy Information Administration (EIA) said on Monday. This year’s first-half exports were the highest in EIA monthly data going back to 1973, with distillate fuel oil and hydrocarbon gas liquids (HGLs), which include propane, representing the largest volumes. U.S. motor gasoline exports also increased, by 11%, to reach a record of 910,000 BPD for the first half of

Read more at: https://oilprice.com/Latest-Energy-News/World-News/US-Fuel-Exports-Broke-Records-In-The-First-Half-Of-2022.html

U.S. Warns Of Catastrophic Consequences If Putin Uses Nuclear Weapons

Ukraine’s president said late on September 25 that there was fierce fighting taking place on the front lines of its 7-month-old defense against Russia’s invasion but that Kyiv was seeing “positive results.” President Volodymyr Zelenskiy’s battlefield assessment came after he warned in a broadcast interview earlier in the day against dismissing Russian President Vladimir Putin’s nuclear threats as Moscow’s forces lose ground. Meanwhile, new British Prime Prime Minister Liz Truss downplayed Putin’s recent statements as “saber-rattling” and “bogus

Read more at: https://oilprice.com/Geopolitics/International/US-Warns-Of-Catastrophic-Consequences-If-Putin-Uses-Nuclear-Weapons.html

Three men charged with fraud in $100 million New Jersey deli scheme

The indictments are the latest shocking twist involving Your Hometown Deli in Paulsboro, New Jersey.

Read more at: https://www.cnbc.com/2022/09/26/three-men-charged-with-fraud-in-100-million-new-jersey-deli-scheme.html

Trump-linked SPAC changes address to UPS store as investments pulled

Digital World Acquisition Corp., the SPAC looking to take Trump Media and Technology Group public, has changed its address to a UPS store in Miami.

Read more at: https://www.cnbc.com/2022/09/26/trump-linked-spac-changes-address-to-ups-store-as-investments-pulled.html

Walmart enters the metaverse with Roblox experiences aimed at younger shoppers

Walmart is experimenting with other ways to reach shoppers, including shoppable recipes, live streaming events, and an augmented reality tool for furniture.

Read more at: https://www.cnbc.com/2022/09/26/walmart-enters-the-metaverse-with-roblox.html

NFL replaces Pro Bowl with weeklong skills competitions and a flag football game

The NFL’s “Pro Bowl Games” will feature skills competitions and culminate in a flag football game.

Read more at: https://www.cnbc.com/2022/09/26/nfl-replaces-pro-bowl-with-flag-football-skills-competitions.html

Peloton’s head of marketing latest executive to leave company

Peloton’s senior VP of marketing, communications, and membership is leaving the company for the head marketing position at Autodesk.

Read more at: https://www.cnbc.com/2022/09/26/pelotons-chief-marketing-officer-latest-executive-to-leave-company.html

Campaigns spend over $6.4 billion on ads for 2022 elections, making race one of the most expensive ever

The over $6.4 billion in ad spending already surpasses both the 2018 and 2020 election cycles, according to nonpartisan research firm AdImpact.

Read more at: https://www.cnbc.com/2022/09/26/2022-midterms-candidates-spend-over-6point4-billion-on-ads-making-race-one-of-the-most-expensive-ever.html

Biden administration to propose new rules to increase airline fee disclosures

The proposal comes less than two months after the Transportation Department sought stricter standards for when airlines have to refund travelers for delays.

Read more at: https://www.cnbc.com/2022/09/26/biden-seeks-stricter-rules-requiring-more-transparency-of-airline-fees.html

Southwest Airlines hired a record 3,000 flight attendants so far this year

Southwest Airlines told staff it’s hired and trained 3,000 flight attendants this year.

Read more at: https://www.cnbc.com/2022/09/26/southwest-airlines-hired-a-record-3000-flight-attendants-so-far-this-year.html

Check in, smoke up and tune out: Cannabis-friendly vacation rentals are catching on

Cannabis-friendly vacation rentals have been popping up as the legalization of recreational cannabis expands to more states.

Read more at: https://www.cnbc.com/2022/09/24/check-in-smoke-up-tune-out-cannabis-friendly-vacation-rentals-catch-on.html

How Bryan Lourd became one of the most powerful people in the history of Hollywood

Bryan Lourd has transcended the role of superagent to become a consigliere to media executives and possibly the most powerful person in Hollywood.

Read more at: https://www.cnbc.com/2022/09/25/bryan-lourd-hollywood-agent-netflix-disney-warner-bros-apple.html

‘The Woman King’ shows why the box office needs more mid-budget movies

“The Woman King” is expected to generate $11.2 million in ticket sales domestically from Friday through Sunday, a 42% drop from its opening weekend.

Read more at: https://www.cnbc.com/2022/09/25/the-woman-king-shows-why-the-box-office-needs-more-mid-budget-movies.html

‘Avatar’ rerelease shows the franchise’s overseas strength while pulling in $10 million domestically

Disney is expected to snare $30 million in ticket sales globally from its theatrical rerelease of 2009’s “Avatar.”

Read more at: https://www.cnbc.com/2022/09/25/avatar-re-release-shows-franchises-overseas-strength.html

SiriusXM reportedly places former quarterback Brett Favre’s NFL show on hold

SiriusXM has put Hall of Fame quarterback Brett Favre’s NFL show on hold due to his involvement in an alleged welfare-fraud scheme in Mississippi, according to reports.

Read more at: https://www.cnbc.com/2022/09/25/siriusxm-reportedly-places-former-quarterback-brett-favres-nfl-show-on-hold-.html

DeSantis Declares “State Of Emergency,” Activates National Guard Ahead Of Hurricane Ian

Hurricane Ian, the fifth hurricane of the Atlantic season, underwent “rapid intensification” in the Caribbean Sea on Monday, with sustained winds of 85 mph, according to the National Hurricane Center.

Ian is a Category 1 storm about 240 miles southeast of Cuba’s western tip. The storm’s track and the threat of further intensification are so concerning that Florida Gov. Ron DeSantis declared a “state of emergency” for the entire state.

DeSantis activated 5,000 Florida National Guard members and requested 2,000 from surrounding states.

DeSantis said Ian is a menacing hurricane that is 500 miles wide. He said, “Floridians up and down the Gulf Coast should feel the impacts” of the powerful storm.

“This is a really, really big hurricane at this point,” the governor said.

AccuWeather warned Ian could strengthen to a Category 4 storm, sustaining winds between 130-156 mph, as it nears Florida’s west coast.

Weather models show Ian could make landfall between Florida Panhandle and west-central Florida mid/late week.

Read more at: https://www.zerohedge.com/weather/desantis-declares-state-emergency-activates-national-guard-ahead-hurricane-ian

Markets Crash As Monetary Laughing Gas Fades

Authored by Daniel Lacalle,

The main issue in the economy is that there are two generations of market participants who have only witnessed expansionary policies. That is why the most pressing question for investors is not where earnings are headed or what the rate of change in economic growth is, but when central banks will pivot.

The Federal Reserve and other big central banks have caused a massive crisis. On the one hand, major central banks’ balance sheets have stayed intact in local currency in 2022, and the path of rate hikes is quite accommodating. Markets, on the other hand, are collapsing. How is this possible? Because central banks believe their actions carry no consequences as there is a legion of economists that twist facts to say there is no problem. However, the contrary is true. Markets and politicians are so accustomed to easy money that even the slightest normalization causes havo …

Read more at: https://www.zerohedge.com/markets/markets-crash-monetary-laughing-gas-fades

OJ Squeeze Ahead? Tropical Threat Looms For Florida’s Citrus Groves

Orange juice futures in New York could be on the cusp of an upside breakout to a new six-year high as Tropical Storm Ian may develop into a major hurricane, with a projected path toward Florida late next week.

Weather models on Sunday morning indicate Ian could become a major category four hurricane by Tuesday near Pinar del Rio, the most western province in Cuba. The storm is expected to hold the intensity until early Thursday when the track shows weakening to a Cat. 3 in the Gulf of Mexico and then Cat. 1 as it hones in on Florida.

Orlando’s FOX 35 meteorologist Brittany Lockley said as Ian comes closer to Florida, the storm will start to encounter unfavorable conditions, such as wind shear that will decrease intensity.

The ag community closely monitors the storm’s developments because citrus production in the state, the nation’s largest orange juice producer, could be impa …

Read more at: https://www.zerohedge.com/commodities/oj-squeeze-ahead-tropical-threat-looms-floridas-citrus-groves

Gartman Says Time To Go “Little Bit Long” Of Stocks

After the Gartman Letter was pulled off the market due to far too much mockery by various third parties and is now reserved for a handful of “friends and family”, it has become virtually impossible to fade Dennis Gartman, arguably the best counter indicator in market history simply because his updates are few and far between. Today, however, was different because the retired publisher of The Gartman Letter spoke to Bloomberg Radio, sharing his latest outlook.

And in a notable reversal, the pundit who back on January 5 turned bearish, said that after the relentless waves of selling triggered by the Fed and other central banks which are hell bent on sparking a global recession, Gartman says he’s moderating his bearish view and is turning “a little bit long.”

“We’ve gotten too many people who are bearish,” said Gartman, who now chairs the Endowment Investment Committee at something called the University of Akron.

Referring to the record put volumes observed last Friday (see “Friday Was The Highest Put Option Volume Session In History”), he said this was “historically unprecedented,” and it’s a signal to go “a little bit long,” by his account.

Read more at: https://www.zerohedge.com/markets/gartman-says-time-go-little-bit-long-stocks

Bank will ‘not hesitate’ to raise interest rates after pound’s fall

The Bank of England said it was “monitoring developments closely” after the pound hit a record low.

Read more at: https://www.bbc.co.uk/news/business-63039687?at_medium=RSS&at_campaign=KARANGA

Pound hits record low after tax cut plans

Sterling sinks close to $1.03 as global markets react to the UK’s biggest tax cuts in 50 years.

Read more at: https://www.bbc.co.uk/news/business-63030208?at_medium=RSS&at_campaign=KARANGA

Falling pound: What does it mean for me and my finances?

The value of the pound touched a record low against the dollar after big tax cuts were announced.

Read more at: https://www.bbc.co.uk/news/business-63033110?at_medium=RSS&at_campaign=KARANGA

Tech View: Nifty50 breaks below 50-DMA; It is officially a ‘sell on rise’ market, caution experts

The Nifty50 index plunged by more than 1 percent for the second consecutive day in a row, and it looks like the index officially entered a ‘sell on rise’ zone. Crucial support for the index is at 200-DMA around 17,000, then at 16,800, while 17,200-17,500 will likely act as a hurdle, suggest experts. A pullback could be on the cards as the index is trading close to oversold levels.

Read more at: https://economictimes.indiatimes.com/markets/stocks/news/tech-view-nifty50-breaks-below-50-dma-it-is-officially-a-sell-on-rise-market-caution-experts/articleshow/94458918.cms

Nifty Bank: Key levels to watch out for on Tuesday

The index breached its important support levels, and pullback rallies should be utilized to initiate fresh short positions. The higher-end resistance is visible at the 39,500-40,000 zone, and the next support is seen at the 38,000 level.

Read more at: https://economictimes.indiatimes.com/markets/stocks/news/nifty-bank-key-levels-to-watch-out-for-on-tuesday/articleshow/94459723.cms

October could be a tough month; not buying every dip: Sandip Sabharwal

“We have to be careful now. After a 35% fall, the brokerages are now coming out with caution notes. We need to be still cautious there but as the management and the analysts turn cautious, in the next three-four months, we might actually get opportunities to buy into these stocks.”

Read more at: https://economictimes.indiatimes.com/markets/expert-view/october-could-be-a-tough-month-not-buying-every-dip-sandip-sabharwal/articleshow/94447639.cms

Crypto: Approximately $1 million worth of crypto stolen in Ethereum ‘vanity address’ hack

Roughly $950,000 worth of crypto was stolen in an attack using a vanity address generator called Profanity, according to a blockchain security firm.

Read more at: http://www.marketwatch.com/news/story.asp?guid=%7B20C06575-04D4-B545-7129-E95F8431DEEB%7D&siteid=rss&rss=1

The MarketWatch Q&A: ‘What is retirement?’ At age 91, ‘Barney Miller’ actor Hal Linden has no plans to slow down

The television star and Tony Award winner is keeping busy with a new off-Broadway play.

Read more at: http://www.marketwatch.com/news/story.asp?guid=%7B20C06575-04D4-B545-7126-655EB5B9F69F%7D&siteid=rss&rss=1

The Moneyist: ‘I would not have been able to do it without him’: I built a property portfolio with 23 units while we were dating. How much should I give to my fiancé in our prenup?

‘They were purchased with my money, and I’m the sole owner on paper – but my fiancé was involved in the entire process.’

Read more at: http://www.marketwatch.com/news/story.asp?guid=%7B20C06575-04D4-B545-7129-C1CD0AC16F57%7D&siteid=rss&rss=1