03 October 2022 Market Close & Major Financial Headlines: Dow Rallies. Ocean Freight Orders Suggesting Big Drop In Consumer Demand.

Putin’s Chaotic Mobilization Order Sends Shockwaves Through Russia

One day after Russian President Vladimir Putin announced a “partial” mobilization limited to reservists with prior military experience to go fight in the Kremlin’s war in Ukraine, Viktor Dyachok, a 59-year-old surgeon, and Artyom Skutin, a 21-year-old university student, each received a draft summons to report for duty. The notices delivered on September 22 came as a shock to both men. Skutin should have been exempt from the mobilization order due to his status as a full-time student and he had spent the night following Putin’s September 21 announcement

Read more at: https://oilprice.com/Geopolitics/International/Putins-Chaotic-Mobilization-Order-Sends-Shockwaves-Through-Russia.html

Houthis Warn Oil Firms To Leave Saudi Arabia And The UAE

Yemen’s Houthis have warned oil companies operating in Saudi Arabia and the United Arab Emirates (UAE) to pack up and leave as the warring sides in the Yemeni conflict failed to reach an agreement to extend the six-month truce. Fighting in Yemen has been ongoing for over seven years now after the Iran-affiliated Houthis overturned the elected president, which prompted Saudi Arabia to wage war on the rebel group. In response, the Houthis have made Saudi Arabia’s oil facilities their preferred target of attacks. Yemen’s Armed Forces’ spokesman Yahya

Read more at: https://oilprice.com/Latest-Energy-News/World-News/Houthis-Warn-Oil-Firms-To-Leave-Saudi-Arabia-And-The-UAE.html

The Middle East Is At The Forefront Of Low-Carbon Desalination Technology

Long seen as a high-cost, energy-intensive process, desalination mega-projects are seeking to tap renewable resources to limit the cost and environmental concerns of this crucial technology. In June 2022 ENOWA, the energy, water, and hydrogen subsidiary of Saudi Arabia’s NEOM mega-project, signed a memorandum of understanding with French energy company Veolia and Japanese trading company Itochu to develop a reverse osmosis (RO) water desalination facility powered by 100% renewable energy. Slated for completion in 2025, the facility is expected

Read more at: https://oilprice.com/Energy/Energy-General/The-Middle-East-Is-At-The-Forefront-Of-Low-Carbon-Desalination-Technology.html

IEA: Global Gas Markets To Remain Tight Through 2023

The International Energy Agency (IEA) has predicted that global gas markets will remain tight next year as Russian piped gas supplies dwindle despite gas demand falling in Europe in response to high prices and energy-saving measures. According to the agency, global natural gas markets have been tightening since 2021 despite global gas consumption declining by 0.8% this year as a result of a record 10% contraction in Europe and flat demand in the Asia Pacific region. However, global gas consumption is forecast to inch up by 0.4% next year. Gas consumption

Read more at: https://oilprice.com/Latest-Energy-News/World-News/IEA-Global-Gas-Markets-To-Remain-Tight-Through-2023.html

The LME Is Carefully Considering A Potential Ban On Russian Metals

Via AG Metal Miner Last week, speculators bought up aluminum amid a $100/ton spike following news that LME aluminum may soon exclude Russian materials. The LME continues to review a ban that would keep Russian aluminum, nickel, and copper from the exchange. A Reuters post illustrated the seriousness of the move, stating that Russias Nornickel accounted for 7% of global mined nickel production last year. This year, Rusal expects to supply roughly 6%. Its a callback to the US sanctions on Oleg Deripaska back in 2018, which resulted

Read more at: https://oilprice.com/Metals/Commodities/The-LME-Is-Carefully-Considering-A-Potential-Ban-On-Russian-Metals.html

China Is Reselling U.S. LNG To Europe For Big Profits

Chinese companies that have signed long-term contracts to buy U.S. liquefied natural gas have been selling their excess inventories to Europe and reaping big profits from the sales thanks to weak demand in China, the Wall Street Journal reports. WSJ reports that just 19 LNG vessels from the U.S. docked in China in the first eight months of the year, a far cry from 133 recorded for last years comparable period. China’s key buyers are located in Europe, Japan, and South Korea. China has imported nearly 30% more gas from Russia so far this

Read more at: https://oilprice.com/Latest-Energy-News/World-News/China-Is-Reselling-US-LNG-To-Europe-For-Big-Profits.html

Kim Kardashian pays over $1 million to settle SEC charges linked to a crypto promo on her Instagram

Reality TV star Kim Kardashian agreed to cooperate with an ongoing investigation by the SEC as she settled charges she unlawfully touted a crypto asset.

Read more at: https://www.cnbc.com/2022/10/03/kim-kardashian-settles-sec-charges-instagram-crypto-promotion.html

Will Smith’s first project since Oscar’s fiasco gets December release date

“Emancipation” is Smith’s first project since the Oscars, where he made headlines for slapping host Chris Rock on stage.

Read more at: https://www.cnbc.com/2022/10/03/will-smiths-first-project-since-oscars-fiasco-gets-december-release-date.html

Denver’s most expensive home lists for $28.9 million and features a stunning charred wood treatment

The estate, which sits in the affluent Cherry Hills Village neighborhood about 11 miles from downtown Denver, spans a total of almost 16,500 square feet.

Read more at: https://www.cnbc.com/2022/10/03/denvers-most-expensive-mansion-lists-for-28888888.html

General Motors says sales rose 24% in the third quarter

GM said it sold 555,580 vehicles from July through September, up from 447,000 a year earlier.

Read more at: https://www.cnbc.com/2022/10/03/gm-third-quarter-sales-rise-24percent-over-2021-totals.html

Peloton will put bikes in every Hilton-branded hotel in the U.S.

Peloton will put bikes in all 5,400 Hilton-branded hotels in the U.S., the company announced Monday.

Read more at: https://www.cnbc.com/2022/10/03/peloton-will-put-bikes-in-every-hilton-owned-hotel-in-the-us.html

Damages in Florida from Hurricane Ian could total $47 billion. Here’s how to protect your personal finances from natural disasters

With damages in Florida set to total as much as $47 billion from Hurricane Ian, according to one estimate, here’s how to protect your finances from disasters.

Read more at: https://www.cnbc.com/2022/10/03/how-to-protect-your-finances-from-natural-disasters-like-hurricane-ian.html

This ‘wild card’ strategy offers retirees a fix for unpaid quarterly taxes. Here’s how to use it

If you’re retired and haven’t made quarterly estimated tax payments for 2022, there may still be time to avoid late penalties. Here’s what to know.

Read more at: https://www.cnbc.com/2022/10/03/how-to-use-required-minimum-distributions-for-unpaid-taxes.html

Ocean freight orders are signaling a big drop in consumer demand

Maritime shipping orders were down 20% in September and October looks similar as consumer demand drops and carriers cancel as many as half of vessels sailings.

Read more at: https://www.cnbc.com/2022/10/03/ocean-shipping-orders-are-signaling-a-big-drop-in-consumer-demand.html

Firefly’s successful rocket launch over the weekend helps fill a big gap in the market, CEO says

Firefly is the fifth U.S. rocket builder to reach orbit in the past 15 years — joining a select group that includes SpaceX, Rocket Lab, Virgin Orbit and Astra.

Read more at: https://www.cnbc.com/2022/10/03/firefly-aerospace-reaches-orbit-joining-spacex-rocket-lab-and-others.html

Norwegian Cruise Line ends all Covid-19 testing, masking, and vaccination requirements

Norwegian Cruise Line announced Monday that it will suspend all Covid-19 testing, masking, and vaccination requirements effective this week.

Read more at: https://www.cnbc.com/2022/10/03/norwegian-cruise-line-ends-covid-19-testing-masking-and-vaccine-requirements.html

Disney executive Kareem Daniel joins McDonald’s expanding board

Daniel’s appointment is part of a broader shakeup of the fast-food giant’s board this year.

Read more at: https://www.cnbc.com/2022/10/03/disney-executive-kareem-daniel-joins-mcdonalds-expanding-board.html

Who needs another subscription service? Walmart is betting its millions of customers do

Walmart+ members tend to be more affluent than the average Walmart shopper, but 1 in 4 members receives government-provided food assistance.

Read more at: https://www.cnbc.com/2022/10/02/walmart-inflation-walmart-plus-subscriptions.html

Toyota CEO Akio Toyoda talks about why he isn’t all-in on EVs — and what made him do a ‘happy dance’

Akio Toyoda said last week he would like his legacy to be “I love cars.” But how he will be remembered for all-electric vehicles is still being determined.

Read more at: https://www.cnbc.com/2022/10/02/toyota-ceo-akio-toyoda-electric-vehicles-happy-dance.html

“2023 Will Be Year From Hell” – Martin Armstrong Warns Europe ‘Could Suck The Rest Of The World Down The Tubes’

Via Greg Hunter’s USAWatchdog.com,

Legendary financial and geopolitical cycle analyst Martin Armstrong says nothing is going to get better by the end of 2022, and he is still forecasting “chaos” coming in 2023.

Armstrong says the plunge in the stock market last week is all because of “extreme uncertainty.” Armstrong predicted a stock market crash two months ago and contends, “It’s not over.”

Europe is in big financial trouble with Russian natural gas turned off as a retaliation from the sanctions. Armstrong explains:

“In Europe, I believe they are actually deliberately doing this, and this is Klaus Schwab’s ‘Great Reset.’

They know they have a serious problem.

They lowered rates to below 0% in 2014. They just started raising int …

Read more at: https://www.zerohedge.com/markets/2023-will-be-year-hell-martin-armstrong-warns-europe-could-suck-rest-world-down-tubes

VPN Usage Surges Amid Protests, Conflict, & War In 2022

Iran has shut down WhatsApp and Instagram in an attempt to stifle the discontent growing across the nation, following the death of 22 year-old Mahsa Amini, who died in custody after being arrested by morality police.

Internet shutdowns are fairly commonplace in authoritarian societies on the eve of change, where governments may seek to gain control of the narrative by trying to stop communication and the sharing of information which can fuel protests and uprisings. After all, the internet can be a powerful tool for social mobilization, as shown by the Arab Spring movement of uprisings which began in the early 2010s.

As Statista’s Anna Fleck shows in the chart below, citizens tend to circumnavigate such crackdowns by downloading virtual private networks, or VPNs, which allows them to get around restrictions to certain blocked sites.

These do not work, however, when countries shut off basic internet completely.

You will find more infographics at Statista

In Iran, demand for VPN downloads increased by more than 3000 percent …

Read more at: https://www.zerohedge.com/technology/vpn-usage-surges-amid-protests-conflict-war-2022

Gold & Geopolitics

Gold & GeopoliticsGold and silver dumped and pumped this week – after a week of consolidation – against a background of a rising dollar on the foreign exchanges.

As the chart below shows, silver is up around 6% since 1 September, while gold is down around 3%…

But as GoldMoney.com’s Alasdair Macleod details below, Silver is extremely oversold in illiquid conditions, illustrated by our nex …

Read more at: https://www.zerohedge.com/geopolitical/gold-geopolitics

Labour Opens Up Massive Lead In UK Polls

Labour Opens Up Massive Lead In UK PollsAfter prime minister Truss and chancellor Kwarteng’s disastrous mini-budget announcement last Friday, followed by an intervention from the Bank of England and a rebuke from the IMF, days of radio silence from the Conservative leader were broken with a string of car crash local radio interviews and dogged defiance to row back on any of her government’s latest decisions.

Already behind Labour in the polls since the turn of the year, Statista’s Martin Armstrong notes that the Conservatives now suddenly find themselves second to a Labour party enjoying the largest lead recorded in any published poll since the late 90s.

Read more at: https://www.zerohedge.com/technology/labour-opens-massive-lead-uk-polls

Millions will receive £324 cost-of-living payment in November

Those on means-tested benefits will get the money between 8 and 23 November, the government says.

Read more at: https://www.bbc.co.uk/news/business-63121751?at_medium=RSS&at_campaign=KARANGA

Mortgage rates rise sharply as squeeze tightens

The average two-year fixed rate is now close to 6% as major lenders raise the cost of deals sharply.

Read more at: https://www.bbc.co.uk/news/business-63119047?at_medium=RSS&at_campaign=KARANGA

UK at significant risk of gas shortages this winter, warns energy regulator

Electricity supplies to people’s houses could be disrupted if the country runs short of gas.

Read more at: https://www.bbc.co.uk/news/business-63118574?at_medium=RSS&at_campaign=KARANGA

Nifty stuck in a range! What investors should do on Tuesday

The weekly chart shows that the index has once again moved down to retest its key weekly moving averages. The overall structure shows that the index has stepped into a short term consolidation mode & can see consolidation near 16,800-17,200. The internal structure shows that a move towards the upper end of the range is likely in the coming sessions.

Read more at: https://economictimes.indiatimes.com/markets/stocks/news/nifty-stuck-in-a-range-what-investors-should-do-on-tuesday/articleshow/94622986.cms

Nifty breaks below long-term average! 23 out of 50 stocks trade under 200-DMA

“On the daily chart, the benchmark Nifty has formed a dark cloud cover formation, suggesting a bearish reversal. Besides, the index has fallen below the 200-DMA, which is again a bearish setup,” Rupak De, Senior Technical Analyst at LKP Securities, said.

Read more at: https://economictimes.indiatimes.com/markets/stocks/news/nifty-breaks-below-long-term-average-23-out-of-50-stocks-trade-under-200-dma/articleshow/94622861.cms

Credit Suisse, Citi cut 2022 year-end target for S&P 500

“We expect a reversal of spreads and volatility, leading to 1-2x multiple points of rerating through year-end. By contrast, 2023 returns should be driven primarily by earnings growth,” Credit Suisse analyst Jonathan Golub said. Citigroup, on the other hand, expects the index to end 2023 at 3,900 points.

Read more at: https://economictimes.indiatimes.com/markets/stocks/news/credit-suisse-citi-cut-2022-year-end-target-for-sp-500/articleshow/94619058.cms

The Conversation: Supreme Court’s new term starts Monday — watch for crucial rulings on affirmative action, LGBTQ rights, election laws

Outcomes will deeply influence American lives and values.

Read more at: http://www.marketwatch.com/news/story.asp?guid=%7B20C06575-04D4-B545-712F-43AB7A1982AF%7D&siteid=rss&rss=1

: Win the battle against inflation: How to save $50,000 on your mortgage, credit-card and car loans

Equifax, Experian and TransUnion recently announced free weekly credit checks through 2023.

Read more at: http://www.marketwatch.com/news/story.asp?guid=%7B20C06575-04D4-B545-712C-66FCBE076A36%7D&siteid=rss&rss=1

The Moneyist: My father reportedly left me $1 in his will at my stepmother’s urging. Is it true that I cannot receive anything from his estate?

‘My sister eventually sold the house.’

Read more at: http://www.marketwatch.com/news/story.asp?guid=%7B20C06575-04D4-B545-711F-CE3D97ABE3EB%7D&siteid=rss&rss=1