26 October 2022 Market Close & Major Financial Headlines: Wall Street Closes Mostly Lower Breaking Three-Day Rally Stint

How Is Russia’s War Impacting Chinas Belt And Road Ambitions

Russian President Vladimir Putin’s special military operation against Ukraine has severely impacted Eurasian transport logistics, particularly cargo traveling along the Peoples’s Republic of China’s (PRC) Belt and Road Initiative (BRI) bound for Europe via Russian Railways (RZD). In 2021, China Railway Express (CRE), a subsidiary of China Railways Group, dispatched 15,000 trains to and from Europe, carrying 1.46 million 20-foot equivalent units (TEUs)a year-on-year increase from 2020 of 22 percent and 29 percent,

Read more at: https://oilprice.com/Geopolitics/International/How-Is-Russias-War-Impacting-Chinas-Belt-And-Road-Ambitions.html

Gold And Silver Inch Higher On Hopes That The Fed Will Slow Hikes

Precious metals, including gold and silver, are rebounding amid growing expectations the Federal Reserve (the Fed) will ease its aggressive policy of hiking interest rates. This has eased pressure on gold and silver with expectations November may be the central bank final hefty rate hike, with chair Jerome Powell likely to pursue a more conservative agenda over the following months. Gold is now up 2.23 percent for the week, and is currently trading at $1,672 per ounce. This is way below its peak this spring when prices rallied to $2,034

Read more at: https://oilprice.com/Latest-Energy-News/World-News/Gold-And-Silver-Inch-Higher-On-Hopes-That-The-Fed-Will-Slow-Hikes.html

Turkmenistan Looks To Become Major Regional Energy Supplier

The president of Uzbekistan is now Professor Shavkat Mirziyoyev. Mirziyoyev earned that honorary title during his tour of the Magtymguly Turkmen State University in Ashgabat, which he visited on October 21. The Uzbek leader’s trip to Turkmenistan is only more evidence of the warmth between two nations that have at times in their post-independence history regarded one another with suspicion. The headline takeaway from Mirziyoyev’s visit was the proclamation that Turkmenistan and Uzbekistan have established an in-depth strategic

Read more at: https://oilprice.com/Energy/Natural-Gas/Turkmenistan-Looks-To-Become-Major-Regional-Energy-Supplier.html

Iron Ore Prices Remain Strong Despite Doubts Over Chinas Economy

Via AG Metal Miner Concern over China’s economy notwithstanding, iron ore remained relatively stable in September and October. This is of note because historically, these months are one of China’s highest peak demand periods. That said, whether the iron ore price will continue to weather the economic storm remains a point of intense debate. The Many Factors Affecting the Iron Ore Price Let’s get the facts straight first. Iron ore price continued to move in the US $91 to $120 a ton range, as it has for the last three months.

Read more at: https://oilprice.com/Latest-Energy-News/World-News/Iron-Ore-Prices-Remain-Strong-Despite-Doubts-Over-Chinas-Economy.html

Tackling The Biggest Challenges Facing EV Adoption

The University of Texas at Austin researchers are tackling two of the bigger challenges facing electric vehicles: limited range and slow recharging. The researchers fabricated a new type of electrode for lithium-ion batteries that could unleash greater power and faster charging. They did this by creating thicker electrodes the positively and negatively charged parts of the battery that deliver power to a device using magnets to create a unique alignment that sidesteps common problems associated with sizing up these critical components.

Read more at: https://oilprice.com/Energy/Energy-General/Tackling-The-Biggest-Challenges-Facing-EV-Adoption.html

Exxon Makes More Oil And Gas Discoveries Offshore Guyana

U.S. oil and gas major Exxon Mobil (NYSE: XOM) has announced on Wednesday that it has made two more discoveries at the Sailfin-1 and Yarrow-1 wells in the Stabroek block offshore Guyana, bringing discoveries on the block to more than 30 since 2015. Exxon revealed that the Sailfin-1 well was drilled in 4,616 feet of water and encountered 312 feet of hydrocarbon-bearing sandstone, while the Yarrow-1 well was drilled in 3,560 feet of water and encountered 75 feet of hydrocarbon-bearing sandstone. Exxon did not disclose how much crude oil or gas it

Read more at: https://oilprice.com/Latest-Energy-News/World-News/Exxon-Makes-More-Oil-And-Gas-Discoveries-Offshore-Guyana.html

CNN chief Chris Licht has big ideas, but employees are nervous, and more job cuts are coming

CNN CEO Chris Licht speaks about his challenge to change the network and restore a brand he says has been tarnished.

Read more at: https://www.cnbc.com/2022/10/26/cnn-chief-chris-licht-business-review-job-cuts.html

Mortgage demand from homebuyers is now nearly half what it was a year ago

Sharply higher mortgage rates caused mortgage demand to drop to the lowest level since 1997.

Read more at: https://www.cnbc.com/2022/10/26/mortgage-demand-from-homebuyers-is-nearly-half-what-it-was-in-2021.html

Boeing reports quarterly loss on problems in Air Force One, tanker programs

Boeing’s defense unit drove the company to a loss, despite nearly $3 billion in free cash flow.

Read more at: https://www.cnbc.com/2022/10/26/boeing-ba-earnings-q3-2022.html

Rihanna to make a long-awaited return to music with ‘Black Panther’ movie sequel

After a six-year hiatus, Rihanna is set to release new music for the forthcoming Marvel sequel “Black Panther: Wakanda Forever.”

Read more at: https://www.cnbc.com/2022/10/26/rihanna-makes-long-awaited-return-to-music-with-black-panther-sequel.html

Justice Department’s antitrust investigation of the PGA Tour includes U.S. Golf Association

The Justice Department’s antitrust probe of the PGA Tour also includes Augusta National and the United States Golf Association.

Read more at: https://www.cnbc.com/2022/10/26/justice-departments-antitrust-investigation-of-pga-tour-includes-usga.html

Maven Clinic, women and family-focused health startup, is booming in the post-Roe v. Wade world

Access to proper health care for women has historically come up short, and women are increasingly turning to their employers for these benefits.

Read more at: https://www.cnbc.com/2022/10/26/maven-women-focused-health-startup-is-booming-in-post-roe-world.html

Homebuyers are making the biggest down payments in these 5 metros. Here’s how much you actually need for a house

Over the past year, down payments in the country’s 50 biggest metros have ballooned by more than 35%. Here’s how much you actually need, mortgage experts say.

Read more at: https://www.cnbc.com/2022/10/26/how-much-money-you-actually-need-for-a-home-down-payment.html

Defendant in NJ deli stock fraud case makes $2,500 a month from similar shell company

James Patten, a defendant in the case of the $100 million NJ deli, is making money from a deal with another shell company.

Read more at: https://www.cnbc.com/2022/10/26/100-million-nj-deli-defendant-makes-2500-a-month-from-shell-company.html

Deutsche Bank upgrades Humana for the same reasons we own this big 2022 winner

Deutsche Bank analysts took Humana to a buy rating from a hold, citing its “leading position in Medicare Advantage.”

Read more at: https://www.cnbc.com/2022/10/26/deutsche-bank-upgrades-humana-for-the-same-reasons-we-own-this-big-2022-winner.html

Bed Bath & Beyond appoints interim CEO Sue Gove to the position permanently

Bed Bath & Beyond has named interim CEO Sue Gove to the position permanently as the struggling retailer tries to boost sales.

Read more at: https://www.cnbc.com/2022/10/26/bed-bath-beyond-appoints-interim-ceo-sue-gove-to-the-position-permanently.html

Airlines have the passengers. Now they need the planes

Major airlines report delays in getting aircraft from manufacturers like Boeing and Airbus.

Read more at: https://www.cnbc.com/2022/10/25/airlines-have-the-passengers-now-they-need-the-planes.html

James Gunn, Peter Safran named new heads of Warner Bros.’ DC studios

James Gunn and Peter Safran will be the next co-heads of Warner Bros. Discovery’s DC Comics film and TV unit, the company announced Tuesday.

Read more at: https://www.cnbc.com/2022/10/25/james-gunn-peter-safran-named-new-heads-of-warner-bros-dc-studios.html

LeBron James, Kevin Durant and other big names invest in Fanatics lifestyle brand Mitchell & Ness

Fanatics’ lifestyle brand Mitchell & Ness is getting a boost from LeBron James, Kevin Durant and other big names.

Read more at: https://www.cnbc.com/2022/10/25/lebron-james-kevin-durant-invest-in-fanatics-brand-mitchell-ness.html

“A Paradoxical Situation”: Germany Is Dismantling A Wind Farm To Make Way For A Coal Mine

By Michael Kern of OilPrice.com

A wind farm is being dismantled in western Germany to make way for an expansion of an open-pit lignite coal mine in a “paradoxical” situation highlighting the current prioritization of energy security over clean energy in Europe’s biggest economy.

The dismantling of at least one wind turbine at the wind farm close to the German coal mine Garzweiler, operated by energy giant RWE, has already started. RWE says that lignite, or brown coal, has been mined from the Garzweiler coalfields for over 100 years.

Read more at: https://www.zerohedge.com/commodities/paradoxical-situation-germany-dismantling-wind-farm-make-way-coal-mine

Institutions, Retail Investors Flood Back Into Stocks After Best Week In Months; Target FAAMG, Chinese Stocks

Maybe they got tired of sitting on their hands (and the proverbial “sidelines”) or have run out of stocks to sell (or short), but for whatever reason last week, when the S&P 500 soared +4.7%, its best week since June, both institutional and retail investors flooded back into the market at near record amounts.

According to Bank of America’s weekly Equity Client Flow Trend report (available to pro subs), clients were net buyers of US equities for the sixth straight week, with inflows into both stocks and ETFs. Buying was led by hedge fund clients; private clients were also buyers (for the fourth straight week). On the other end, institutional clients sold equities after buying for two weeks.

Some more details: over the last three weeks, inflows into single stocks (as a % of S&P 500 mkt. cap) were in the 99th percentile of history since ’08 and two standard deviations above average, and still in the 92nd percentile excluding corp. client buybacks.

Read more at: https://www.zerohedge.com/markets/institutions-retail-investors-flood-back-stocks-after-best-week-months-target-faamg-chinese

Profits Do Not Cause Inflation (No Matter What Progressives Claim)

Authored by J.W.Rich via The Mises Institute,

The economic burden of inflation continues to ravage economies around the world.

From the US to the UK to the eurozone, people are finding that the money in their wallets and bank accounts buys less and less every month.

As with all problems, everyone is looking for three things: strategies, solutions, and scapegoats.

One particularly popular scapegoat for the inflation monster is corporate profits. Businesses are alleged to be sneakily raising their prices across the board, which creates inflation—or at the very least contributes to inflation—and makes all of us poorer in the process. These higher prices pad their profit margins, and they laugh at us helpless plebians all the way to the bank. The solution to their reckless rapacity? Restricting either the prices businesses ca …

Read more at: https://www.zerohedge.com/political/profits-do-not-cause-inflation-no-matter-what-progressives-claim

Gunmen Storm Iranian Pilgrimage Site In Major Attack: 15 Dead & 40 Wounded

A popular religious destination in south-central Iran has been hit with a major terrorist attack on Wednesday at a moment tensions in the Islamic Republic are already boiling after over a month of anti-government protests.

“At least 15 people have been killed and 40 others injured in an attack on a Shia religious shrine in the southern Iranian city of Shiraz, according to the country’s state media, IRNA,” Al Jazeera writes.

The Shah Cheragh Shrine is a famous Shia funerary monument and mosque, among the iconic city’s most famous attractions drawing millions of pilgrims each year.

Regional reports say the attack started when three armed men entered the shrine and opened fire on crowds of worshippers. There were initial conflicting reports over how many men carried out the attack.

Iranian state media details that “The attack targeted worshippers who were prepari …

Read more at: https://www.zerohedge.com/geopolitical/gunmen-storm-iranian-pilgrimage-site-major-attack-15-dead-40-injured

UK tax and spending plan pushed back by two weeks, says Hunt

The much-anticipated statement will now take place on 17 November, the chancellor says.

Read more at: https://www.bbc.co.uk/news/uk-politics-63399803?at_medium=RSS&at_campaign=KARANGA

Made.com furniture website on brink of collapse

The online retailer says talks with potential buyers had failed, pushing it towards administration.

Read more at: https://www.bbc.co.uk/news/business-63403363?at_medium=RSS&at_campaign=KARANGA

Pound rises after delay to economic plan

The currency has rallied against the dollar in recent days and rose further on Wednesday.

Read more at: https://www.bbc.co.uk/news/business-63399651?at_medium=RSS&at_campaign=KARANGA

When will Sensex hit 1-lakh magic figure? Here are some back-of-the-envelope calculations

Earlier this year, Jefferies’ global head of equity strategy Christopher Wood had said that a target of Sensex at 1 lakh is eminently achievable by FY27 and now Dalal Street’s veteran fund manager Hiren Ved has said it is possible to even earlier by 2025

Read more at: https://economictimes.indiatimes.com/markets/stocks/news/when-will-sensex-hit-1-lakh-magic-figure-heres-some-back-of-the-envelope-calculations/articleshow/95094404.cms

Axis Bank, IndusInd Bank could rally up to 26% in next 1 year

While any material change in the demand environment needs to be monitored, given the challenging macro environment, we expect systemic credit to grow ~13%/14% YoY in FY23/FY24, respectively

Read more at: https://economictimes.indiatimes.com/markets/stocks/news/axis-bank-indusind-bank-could-rally-up-to-26-in-next-1-year/articleshow/95094173.cms

Tech View: Nifty forms bearish candle. What investors should do on Thursday

During the day, the Nifty remained above the previous consolidation high, suggesting a rise in optimism. Over the short term, the trend is expected to remain strong. On the higher end, resistance is visible at 17,950. On the lower end, support is placed at 17,550/17,400.

Read more at: https://economictimes.indiatimes.com/markets/stocks/news/tech-view-nifty-forms-bearish-candle-what-investors-should-do-on-thursday/articleshow/95080403.cms

The Ratings Game: Why a former Netflix bear has become Wall Street’s biggest bull

Netflix Inc. shares have lost about half their value so far this year, and Pivotal Research Group analyst Jeff Wlodarczak sees better days ahead for the name.

Read more at: http://www.marketwatch.com/news/story.asp?guid=%7B20C06575-04D4-B545-7143-BD1DCE752845%7D&siteid=rss&rss=1

: How can you prepare for a recession if you’re struggling to pay for rent, food and utilities? Follow these steps.

If you’re stressed about finances, you’re not alone. But there are small ways even low- to moderate-income people can protect themselves.

Read more at: http://www.marketwatch.com/news/story.asp?guid=%7B20C06575-04D4-B545-7141-68BEF3D8C480%7D&siteid=rss&rss=1

20-year-old investor who made $110 million on a meme stock is pushing for change at a psychedelics company

The 20-year old investor who found fame this year when he made $110 million from trading the stock of troubled retailer Bed Bath & Beyond Inc., has turned activist shareholder and is pushing for changes at psychedelics company Mind Medicine Inc.

Read more at: http://www.marketwatch.com/news/story.asp?guid=%7B20C06575-04D4-B545-713F-B3E900B3E1E3%7D&siteid=rss&rss=1