15Nov2022 Market Close & Major Financial Headlines: Wall Street Closes Moderately Higher To Keep The Rally Alive.

How The Price Cap On Russian Oil Could Cripple Indias Crude Imports

India would be one of the countries most exposed if Russia refuses to sell crude oil at the capped price under proposed sanctions to be imposed by the United States and the European Union. In 2021, India was the world’s third-largest crude importer (214 million tonnes) after China (526 million tonnes) and the United States (305 million tonnes) (Statistical review of world energy, BP, 2022). India and China rely on imports by tanker from the Middle East, Russia, and other regions, in contrast to the United States, which

Read more at: https://oilprice.com/Energy/Oil-Prices/How-The-Price-Cap-On-Russian-Oil-Could-Cripple-Indias-Crude-Imports.html

Germany’s Gas Turbine Capacity Expansion Moving Too Slow

Germany is behind in its plan to expand its gas turbine capacity to 30 GW by 2030the amount needed to stabilize its electricity distribution networks, according to General Electric. Just 4 GW of turbine capacity is in the planning stages. But the timeframes needed to get from the planning stage to the completion stage is five years, according to a report from Frontier Economics, meaning Germany is behind in its plan. GE Gas Power VP Martin ONeill pointed to significant challenges they face but they appear to be stalled. Investors

Read more at: https://oilprice.com/Latest-Energy-News/World-News/Germanys-Gas-Turbine-Capacity-Expansion-Moving-Too-Slow.html

The Tech Making Lithium-Ion Batteries Safer

When overheated Lithium-ion (Li-ion) batteries are prone to catching fire or even exploding. Yet they are used to power everything from smartwatches to electric vehicles, thanks to the large amounts of energy they can store in small spaces. A recent research paper published in American Chemical Society Nano Letters offers a possible solution with a new technology that can swiftly put the brakes on a Li-ion battery, shutting it down when it gets too hot. The chemistry found in many batteries is essentially the same: Electrons are shuttled

Read more at: https://oilprice.com/Energy/Energy-General/The-Tech-Making-Lithium-Ion-Batteries-Safer.html

IEA: Stubbornly High Diesel Prices May Lead To Lower Demand In 2023

Stubbornly high diesel prices fueling inflation as well as slowing economies are expected to lead to a slight decline in global diesel demand in 2023, the International Energy Agency (IEA) said in its monthly report on Tuesday. Currently, diesel markets are already exceptionally tight and will become tighter still when the EU embargo on imports of Russian products by sea enters into force in early 2023, according to the IEA. Even before Russia’s invasion of Ukraine in February this year, diesel markets were already in deficit

Read more at: https://oilprice.com/Latest-Energy-News/World-News/IEA-Stubbornly-High-Diesel-Prices-May-Lead-To-Lower-Demand-In-2023.html

Oil Prices Rise After Stray Rockets Land In Poland, Killing Two

Poland is holding an emergency meeting of the National Security Committee after a report surfaced that a suspected missile has struck a village in Poland, killing two. Tensions were heightened on Tuesday after a Russian missile, ostensibly intended for Ukraine, landed in Przewodow Poland, near the border, hitting grain dryers and killing two, according to Polish media reports. The government has not confirmed the strike, although a US official confirmed that missiles crossed into Poland. Polands Prime Minister Mateus Morawiecki has called

Read more at: https://oilprice.com/Energy/Oil-Prices/Oil-Prices-Rise-After-Stray-Rockets-Land-In-Poland-Killing-Two.html

Another UK Solar Company Goes Bust

Believe it or not, another solar energy company has gone bust. This time, it was one of the largest in England. Toucan Energy Holdings 1 Ltd., based in Essex, Southern England, has gone into administration after racking up a whopping half a billion pounds in debt, according to a new Bloomberg report. The company owns 53 solar farms across the country and had borrowed 655 million from Thurrock Council over the course of four years to try and finance its expansion, the report notes. The investments are now being called a

Read more at: https://oilprice.com/Alternative-Energy/Solar-Energy/Another-UK-Solar-Company-Goes-Bust.html

Ticketmaster extends presale period for Taylor Swift ‘Eras’ tour to deal with ‘unprecedented demand’

Ticketmaster has extended presales for tickets to Taylor Swift’s upcoming “Eras” tour after fans flocked to the site, causing site disruptions and slow queues.

Read more at: https://www.cnbc.com/2022/11/15/taylor-swift-eras-tour-presale-extended-by-ticketmaster.html

Ford says making its own parts for electric vehicles could offset job losses

CEO Jim Farley compared the insourcing to the early days of the auto industry Ford controlled most, if not all, of the components going into a vehicle.

Read more at: https://www.cnbc.com/2022/11/15/ford-working-to-build-its-own-parts-for-electric-vehicles-to-offset-job-losses.html

Walmart raises outlook as groceries boost sales, inventory glut recedes

Walmart, the nation’s largest grocer, benefited from food sales, as apparel and electronics sales slowed.

Read more at: https://www.cnbc.com/2022/11/15/walmart-wmt-earnings-q3-2023.html

Ad market worse than during lows of the pandemic, says Warner Bros Discovery CEO David Zaslav

The current advertising market is worse than at any point during the coronavirus pandemic, Warner Bros. Discovery CEO David Zaslav said Tuesday.

Read more at: https://www.cnbc.com/2022/11/15/ad-market-worse-now-than-during-pandemic-lows-david-zaslav-says.html

Paramount Global shares jump after Warren Buffett’s Berkshire Hathaway increases stake

Paramount Global’s stock got a boost after Berkshire Hathaway upped its stake, a fresh signal that the media company could be an acquisition target.

Read more at: https://www.cnbc.com/2022/11/15/paramount-shares-rise-after-buffetts-berkshire-hathaway-raises-stake.html

FDA could approve over-the-counter nasal sprays and autoinjectors to treat opioid overdoses

But the FDA stressed that it needed more data to make a definitive conclusion on the use of over-the-counter treatments for opioid overdoses.

Read more at: https://www.cnbc.com/2022/11/15/opioid-crisis-fda-may-approve-over-the-counter-naloxone-nasal-spray-autoinjectors.html

Lucid reveals new lower-cost versions of the Air electric luxury sedan

Luxury electric vehicle maker Lucid Group on Tuesday revealed several new versions of its Air sedan.

Read more at: https://www.cnbc.com/2022/11/15/lucid-reveals-lower-cost-air-electric-luxury-sedans.html

Delta gets closer to labor deal with pilots, union says

Airlines and their unions have been at an impasse over new contracts for months.

Read more at: https://www.cnbc.com/2022/11/15/delta-gets-closer-to-labor-deal-with-pilots-union-says.html

Home Depot posts better-than-expected quarter despite inflation

Home Depot reported third-quarter earnings Tuesday, beating analyst expectations.

Read more at: https://www.cnbc.com/2022/11/15/home-depot-hd-earnings-q3-2022.html

DOT says Frontier, foreign airlines must pay travelers $600 million in refunds

The Department of Transportation has sparred with airlines over refund delays and flight disruptions.

Read more at: https://www.cnbc.com/2022/11/14/us-fines-frontier-airlines-others-for-passenger-refund-delays.html

Jay Leno says he’s ‘ok’ after he suffers serious burns in car fire

Former “Tonight Show” host Jay Leno was seriously burned in a garage fire while working on a car that burst into flames.

Read more at: https://www.cnbc.com/2022/11/14/jay-leno-suffers-serious-burns-in-car-fire-cancels-appearances.html

Tyson CFO apologizes to investors after arrest on charges of public intoxication, trespassing

Tyson Foods CFO John Tyson apologized to investors Monday after his arrest Nov. 6 on charges of public intoxication and trespassing.

Read more at: https://www.cnbc.com/2022/11/14/tyson-cfo-apologizes-to-investors-after-arrest-for-public-intoxication-trespassing.html

FTX Founder Sam Bankman-Fried Faces ‘Trip’ For Questioning In US

FTX founder Sam Bankman-Fried is facing the possibility of a ‘trip’ to the US (not an ‘extradition’ – as Bloomberg puts it), as US and Bahamian authorities have been discussing the possibility of bringing him to America for questioning over this firm’s devastating implosion, according to Bloomberg, citing people familiar with the matter.

Conversations between law-enforcement officials in the two countries have recently intensified, as they probe what led up to cryptocurrency firm FTX’s meltdown. He has reportedly been cooperating with Bahamian authorities, according to one source.

Since FTX began its tailspin last week, prosecutors and regulators in the US and the Bahamas have opened probes. Bahamian police interviewed Bankman-Fried on Saturday.

Bankman-Fried has apologized repeatedly to FTX’s customers on Twitter. He also said on the social media platform Friday that he was “shocked to see things unravel the way they did” and tha …

Read more at: https://www.zerohedge.com/political/ftx-founder-sam-bankman-fried-faces-trip-questioning-us

Nickel Jumps As Tesla-Backed Miner Sparks Supply Fears

Nickel prices jumped Tuesday on the news of production setbacks at the troubled Goro nickel mine, which has one of the world’s largest deposits and is partially owned by Trafigura Group and backed by Tesla Motors, reported Bloomberg.

Goro is located in the South Pacific island French territory of New Caledonia. The mine has been forced to curtail production following a leak from its tailings dam — an earth-fill embankment dam used to store byproducts after separating the ore from mining waste.

A spokesperson from owner Prony Resources said the Goro Mine reported a “limited release of salt-laden liquid” following torrential rains in August. Corrective measures required by local authorities reveal nickel output would be reduced in the fourth quarter.

The nickel market has seen wild price swings in the last two sessions following reports of an explosion at a nickel factory in Indonesia on …

Read more at: https://www.zerohedge.com/commodities/nickel-jumps-tesla-backed-miner-sparks-supply-fears

US Tells Ukraine Talks Don’t Need To Happen After Milley’s Diplomacy Push

Authored by Dave DeCamp via AntiWar.com,

According to a report from Politico, the Biden administration has been reassuring Ukraine that peace talks with Russia don’t need to happen anytime soon after Chairman of the Joint Chiefs of Staff Gen. Mark Milley said this winter will provide an opportunity for diplomacy.

Milley said last week that Russia and Ukraine might recognize that victory “is maybe not achievable through military means, and therefore you need to turn to other means.” He expects fighting will slow down this winter, and the moment for peace talks could be “seized.”

Citing unnamed US and Ukrainian officials, the POLITICO report said that US officials have conveyed to Ukraine that Washington was not trying to undercut Kyiv’s stated war goals of driving Russia out of all the territory it has captured. The US also said that just because there may be a pause in fighting this winter, that doesn’t mean peace talks need to happen.

Read more at: https://www.zerohedge.com/geopolitical/us-tells-ukraine-talks-dont-need-happen-after-milleys-diplomacy-push

Teach The Constitution: Democrat Attorney Who Halted Hochul’s Quarantine Camp Regulation

Authored by Jan Jekielek and Masooma Haq via The Epoch Times (emphasis ours),

Attorney Bobbie Anne Cox in New York on Nov. 5, 2022. (Justin Chiu/The Epoch Times)In what she has called a David versus Goliath battle, New York real estate lawyer Bobbie Anne Cox sued Governor Kathleen Hochul for issuing directives mandating quarantine for people exposed to or infected with highly contagious diseases such as COVID-19

Read more at: https://www.zerohedge.com/political/teach-constitution-democrat-attorney-who-halted-hochuls-quarantine-camp-regulation

Google to pay a record $391m privacy settlement

The technology company tracked users’ locations despite them opting out, a US investigation found.

Read more at: https://www.bbc.co.uk/news/technology-63635380?at_medium=RSS&at_campaign=KARANGA

Record wage rises still outpaced by soaring inflation

Wages rise at their fastest rate in more than 20 years, but still lag behind the soaring cost of living.

Read more at: https://www.bbc.co.uk/news/business-63624996?at_medium=RSS&at_campaign=KARANGA

Twirls substituted in some Heroes chocolate boxes

Chocolate is another casualty of supply chain disruptions blighting manufacturers.

Read more at: https://www.bbc.co.uk/news/business-63642174?at_medium=RSS&at_campaign=KARANGA

Global Health: Should you expect any fireworks at listing tomorrow?

Global Health is one of the largest private multi-specialty tertiary care providers operating in North and East India. It has a network of five hospitals under ‘Medanta’ brand in Gurugram, Indore, Ranchi, Patna, and Lucknow. Dealers tracking the grey market said the lower-than-expected response to the issue dented sentiments for the company and one should not expect any fireworks at listing.

Read more at: https://economictimes.indiatimes.com/markets/ipos/fpos/global-health-should-you-expect-any-fireworks-at-listing-tomorrow/articleshow/95531077.cms

These 7 stocks surge up to 150% in 3 months as firms return to black in Q2

Company profits play a vital role in stock selection. A turnaround is the financial recovery of a poorly performing company. Turnarounds are important as they mark a period of improvement while bringing stability to an entity’s future.ETMarkets analysis companies that turned profitable in the recent quarter (September 2022) as compared to their sequential quarter wherein they posted losses. From the BSE universe, 44 companies with a market cap of over Rs 500 crore have met the above criteria. The companies whose net sales were below Rs 100 crore have been excluded (Data Source: ACE Equity). We further filtered in terms of price performance and found seven stocks from the list that have gained over 30% in the last three months and most of them look strong on SWOT Analysis. Take a look at the key strong points of these stocks on SWOT analysis, according to Trendlyne.com.

Read more at: https://economictimes.indiatimes.com/markets/stocks/news/these-7-stocks-surge-up-to-150-in-3-month-as-firms-turned-profitable-in-september-quarter/positive-turnaround/articleshow/95528440.cms

Indian rupee may end 2022 higher than earlier view as dollar slips – analysts

Fed rates peaking next year and China finding stability are seen providing Asia with “more policy room and easier financial conditions,” BofA said in a note. This would allow for portfolio inflows into Indian assets, it added.

Read more at: https://economictimes.indiatimes.com/markets/forex/indian-rupee-may-end-2022-higher-than-earlier-view-as-dollar-slips-analysts/articleshow/95528684.cms

Kevin McCarthy wins Republican nomination to become House speaker after overcoming protest from right flank

House Republicans on Tuesday chose Rep. Kevin McCarthy of California as their nominee for speaker. He had faced a challenge in the wake of worse-than-expected midterm results.

Read more at: http://www.marketwatch.com/news/story.asp?guid=%7B20C06575-04D4-B545-7155-14DBD7A0C481%7D&siteid=rss&rss=1

Mark Hulbert: Energy stocks are in a bubble — and here’s when they’re likely to crash

Research shows that when a sector’s trailing two-year return soundly beats the U.S. market average, that sector takes a beating over the next two years.

Read more at: http://www.marketwatch.com/news/story.asp?guid=%7B20C06575-04D4-B545-7154-7265148F3F48%7D&siteid=rss&rss=1

Futures Movers: Oil futures settle higher after touching their lowest prices in 3 weeks

Oil futures settled higher Tuesday, as both WTI and Brent contracts shook off early steeper losses. A tight supply report softened China-linked demand jitters.

Read more at: http://www.marketwatch.com/news/story.asp?guid=%7B20C06575-04D4-B545-7154-C9A828D93C1B%7D&siteid=rss&rss=1