13Dec2022 Market Close & Major Financial Headlines: Wall Street Major Indexes Closed In The Green Near Session Lows. CPI Continues To Moderate.

Uzbekistan Gas Scandal Results In Executive Arrest

Authorities in Uzbekistan have arrested a senior executive at a state-owned natural gas distribution network operator over his involvement in alleged unauthorized deliveries to a factory while the rest of the population endured chronic shortages. Sardar Umurzakov, the head of the presidential administration, who has aimed strong rhetoric at the perceived shortcomings of regional leaders and other officials since his appointment in July, said on December 11 that more executives could face the same treatment. The office of the Prosecutor General

Read more at: https://oilprice.com/Energy/Energy-General/Uzbekistan-Gas-Scandal-Results-In-Executive-Arrest.html

UK Sanctions Senior Russian Officers And Iranian Dronemaker

The United Kingdom has announced a new package of 16 sanctions targeting senior Russian commanders for their involvement in the Russian military and Iranian businessmen and officials involved in the production and/or supply of drones to Moscow, which is using the aircraft in its war against Ukraine to decimate the country’s energy infrastructure. The British government said in a statement on December 13 that 12 senior commanders of Russian military forces, including units implicated in attacks on Ukrainian cities, have been sanctioned. The list

Read more at: https://oilprice.com/Latest-Energy-News/World-News/UK-Sanctions-Senior-Russian-Officers-And-Iranian-Dronemaker.html

Can Supply Chains Keep Up With A Looming Construction Boom?

Via AG Metal Miner The Construction MMI (Monthly MetalMiner Index) flatlined sideways, moving downward by a meager 0.07%. The overall volatility of metal prices remains a primary challenge to the index. The near-stationary index contrasts starkly with the downward 2022 trend. Aside from fluctuating metal prices, the industry also had its integrity tested by several other problems. These included rising interest rates, labor shortages, energy shortages globally, and zero COVID. Month-over-month, most bar-fuel surcharges remained within a sideways

Read more at: https://oilprice.com/Energy/Energy-General/Can-Supply-Chains-Keep-Up-With-A-Looming-Construction-Boom.html

Freeport LNG Faces More Regulatory Hurdles Before Restart

The Freeport LNG export terminal faces a long list of new regulatory requirements it must meet before restarting. Freeport said last month that it was targeting initial production at its facility sometime in mid-December, with full production utilizing both docks expected sometime in March 2023. The 15 million tonne-per-year Freeport LNG plant has been shuttered since June 2022 after being rocked by an explosion. At that time, Freeport was targeting a Fall restart. But now, the U.S. energy regulator FERC has notified the company of a rather long

Read more at: https://oilprice.com/Latest-Energy-News/World-News/Freeport-LNG-Faces-More-Regulatory-Hurdles-Before-Restart.html

A Peek At Russias Response To The G7 Oil Price Cap

Russian authorities have drafted a decree banning the sale of Russian crude oil to buyers part of the Price Cap Coalition or if the purchase is limited by the G7/EU price cap, as a measure to counter the $60 a barrel price ceiling set by the West, Russian daily Vedomosti reported on Tuesday, quoting a source with knowledge of the draft and government sources. The EU banned from December 5 maritime transportation services from shipping Russian crude oil to third countries if the oil is bought above the price cap of $60 per barrel, and imposed

Read more at: https://oilprice.com/Energy/Energy-General/A-Peek-At-Russias-Response-To-The-G7-Oil-Price-Cap.html

Supply Chain Woes Slow U.S. Solar Boom

Trade and supply chain barriers continue to slow progress in U.S. solar power expansion, despite the Inflation Reduction Act (IRA) which was designed to boost clean energy capacity rollouts, a quarterly report by the Solar Energy Industries Association (SEIA) and Wood Mackenzie showed on Tuesday. The United States added 4.6 gigawatts (GW) of new solar capacity in the third quarter of this year, down by 17% compared to the same period of 2021, the U.S. Solar Market Insight Q4 2022 report found. As a result of supply constraints, the

Read more at: https://oilprice.com/Latest-Energy-News/World-News/Supply-Chain-Woes-Slow-US-Solar-Boom.html

Mortgage rates drop after CPI report, but the housing market is far from out of the woods

The rate on the popular 30-year fixed-rate mortgage fell to 6.28%, but that’s still dramatically higher than where it was a year ago.

Read more at: https://www.cnbc.com/2022/12/13/mortgage-rates-drop-after-cpi-inflation-report.html

Ford boosts production of electric F-150 Lightning pickup truck

Ford Motor has added a third production shift to its Michigan plant that produces the electric F-150 Lightning as it looks to boost output.

Read more at: https://www.cnbc.com/2022/12/13/ford-moves-to-boost-production-of-electric-f-150-lightning-pickup-truck.html

Boeing airplane deliveries picked up in November

Boeing handed over 48 planes last month, most of them 737 Max jetliners.

Read more at: https://www.cnbc.com/2022/12/13/boeing-airplane-deliveries-picked-up-in-november.html

Billionaire Ken Griffin sues the IRS after his tax records were disclosed

Billionaire Ken Griffin has sued the IRS and the Treasury Department over the “unlawful disclosure” of his tax information.

Read more at: https://www.cnbc.com/2022/12/13/billionaire-ken-griffin-sues-irs-over-tax-disclosure.html

Dollar General’s new Popshelf stores chase inflation-weary shoppers in the suburbs

Dollar General said it sees an opportunity to grow to 3,000 Popshelf stores across the country.

Read more at: https://www.cnbc.com/2022/12/13/inflation-dollar-general-chases-suburban-shoppers-popshelf.html

United Airlines is buying at least 100 Boeing Dreamliners to replace aging wide-body jets

The massive order is a big boost for Boeing from one of its largest customers.

Read more at: https://www.cnbc.com/2022/12/13/united-airlines-boeing-787-dreamliner-order.html

Workers and consumers say they’re likely to favor pro-LGBTQ businesses, new study says

A new report reveals companies that stay silent on LGBTQ issues could turn off their customers and employees.

Read more at: https://www.cnbc.com/2022/12/13/workers-consumers-prefer-pro-lgbtq-brands-glaad-study.html

Used car prices are down 3.3% from a year ago — but still ‘grossly inflated,’ auto expert says. Here’s where to find deals

While used vehicle prices are coming down overall, there are some that show larger price drops than others, depending on the car type and age.

Read more at: https://www.cnbc.com/2022/12/13/used-car-prices-are-down-3point3percent-from-a-year-ago-per-inflation-data.html

Stocks making the biggest moves midday: Moderna, First Solar, Pinterest, Norwegian Cruise Line and more

These are the stocks posting the largest moves in midday trading.

Read more at: https://www.cnbc.com/2022/12/13/stocks-making-the-biggest-moves-midday-moderna-first-solar-pinterest-norwegian-cruise-line-and-more.html

‘It could be a blessing and a curse.’ Here are 3 unexpected financial pitfalls unmarried couples need to know

If you’re living together before marriage or committed long-term, you’ll need to prepare for the future. Here’s what unmarried couples need to know.

Read more at: https://www.cnbc.com/2022/12/13/how-to-create-a-financial-plan-as-an-unmarried-couple.html

Electric Ford F-150 Lightning named MotorTrend’s truck of the year

The prestigious title and accompanying “Golden Caliper” award are highly sought by automakers globally every year.

Read more at: https://www.cnbc.com/2022/12/13/electric-ford-f-150-lightning-named-motortrends-truck-of-the-year.html

Hotel prices and airfare decline as travel demand cools after summer surge

Prices for lodging and airfare came down slightly in November report as travel demand cooled slightly.

Read more at: https://www.cnbc.com/2022/12/13/inflation-hotel-prices-airfare-decline.html

Supreme Court upholds California ban on flavored tobacco

The Supreme Court on Monday rejected a bid from the tobacco industry to block a California ban on flavored tobacco products.

Read more at: https://www.cnbc.com/2022/12/12/supreme-court-upholds-california-ban-on-flavored-tobacco.html

Soft CPI Sparks Chaos Ahead Of FOMC: Bonds, Bitcoin, & Bullion Bid; Stocks Skid

Well that was a day… and we have tomorrow’s FOMC fun and games to look forward to still.

Softer-than-expected CPI (bear in mind that Core CPI was only 0.1ppt below expectations) sparked total chaos in markets with rate-trajectory expectations immediately jerking dovishly…

Source: Bloomberg

This did not affect the market’s view of tomorrow’s FOMC decision (50bps hike) but did dovishly shift expectations for Feb and March…

Read more at: https://www.zerohedge.com/markets/soft-cpi-sparks-chaos-ahead-fomc-bonds-bitcoin-bullion-bid-stocks-skid

White House Flips Out After Musk Says Fauci-Funded Research “Killed Millions”

The White House says recent comments made by Elon Musk about Anthony Fauci are “dangerous” and “disgusting.”

“They are disgusting, and they are divorced from reality, and we will continue to call that out and be very clear about that,” said White House Press Secretary Karine Jean-Pierre in a Monday presser, before praising Fauci’s public handling of the Covid-19 pandemic.

Jean-Pierre is asked about @elonmusk calling for Fauci to be prosecuted:

“These personal attacks that we have been seeing are incredibly dangerous. They are disgusting and they are divorced from reality… We should be thankful to him.” pic.twitter.com/lAadqXpPgQ

— Greg Price (@greg_price11) December 12, 2022

Read more at: https://www.zerohedge.com/covid-19/white-house-flips-out-after-musk-says-fauci-funded-research-killed-millions

Terminally Online: Always Connected, Rarely Together

Authored by Jack Raines via YoungMoney.co,

Two weeks ago, I came across a Washington Post article discussing American loneliness, and I haven’t been able to stop thinking about it since.

The tl;dr: Americans are spending more and more time alone than ever before.

Some shocking stats from this piece:

Similar declines can be seen even when the definition of “friends” is expanded to include neighbors, co-workers, and clients. The average American spent 15 hours per week with this broader group of friends a decade ago, 12 hours per week in 2019 and only 10 hours a week in 2021.

On average, Americans did not transfer that lost time to spouses, partners or children. Instead, they chose to be alone.

No single group drives this trend. Men and women, White and non-White, rich a …

Read more at: https://www.zerohedge.com/medical/terminally-online

Retail Investors Slamming The Bid Amid Tax-Loss Selling Capitulation

Retail Investors Slamming The Bid Amid Tax-Loss Selling CapitulationWhen looking at recent Lipper fund flow Data, superstar Goldman trader Brian Garrett writes that equity mutual funds have realized outflows for 26 consecutive weeks (-$254BN outflow) and 39 out of the last 40 weeks (-$333BN outflow). The pace of outflows has increased into year-end, with the current 4-week moving average at levels seen only a handful of times in the last 30 years.

Garrett calculates that on average, there were -$16.5BN of equity outflows every week for the last month (-$65bn in total) a pace which is rivaled only by Oct 2008 (financial crisis), Dec 2018 (trade wars + fed hike into slowing economy leading to worst December since 1931), and Oct 2020 (Trump/Biden election).

And speaking of retail bearishness, client flow expert Vanda Research notes that retail bearishness this week represented a continuation of three weeks of declining buying activity …

Read more at: https://www.zerohedge.com/markets/retail-investors-slamming-bid-amid-tax-loss-selling-capitulation

Who is striking tomorrow? How walkouts on Wednesday 14 December will affect you

Rail disruption and another Royal Mail walkout – what you need to know by the BBC’s Zoe Conway.

Read more at: https://www.bbc.co.uk/news/uk-63957154?at_medium=RSS&at_campaign=KARANGA

Millions face £250 monthly mortgage rise next year

The average monthly mortgage bill will go up from £750 to £1,000, the Bank of England says.

Read more at: https://www.bbc.co.uk/news/business-63961179?at_medium=RSS&at_campaign=KARANGA

US inflation rate slows as fuel costs fall

US inflation rose 7.1% over the 12 months to the end of November, dropping from 7.7% in October.

Read more at: https://www.bbc.co.uk/news/business-63960721?at_medium=RSS&at_campaign=KARANGA

BNP Paribas sees India underperforming EM peers in 2023, excludes ITC, Infosys

The valuation of Sensex is the highest among the emerging market peers, all of whom are trading at 0.9-1.7 times their 1-year forward price-to-book value, the brokerage said in a note

Read more at: https://economictimes.indiatimes.com/markets/stocks/news/bnp-paribas-sees-india-underperforming-em-peers-in-2023-excludes-itc-infosys/articleshow/96202563.cms

Nifty reclaims 20-DMA to form green candle. What traders should do Wed

India’s VIX was down by 3.28% to 12.88 levels from 13.31. Volatility dropped to its multi-month low and has been hovering at lower levels from the last two months.Option data suggests a trading range in between 18,300 and 19,000 zones, while an immediate trading range in between 18,400 and 18,750 zones.

Read more at: https://economictimes.indiatimes.com/markets/stocks/news/tech-view-nifty-reclaims-20-dma-to-form-green-candle-what-traders-should-do-on-wednesday/articleshow/96199919.cms

US stocks jump at open as CPI data calms rate-hike jitters

The Dow Jones Industrial Average rose about 1%, the S&P 500 gained 1.7% and the Nasdaq Composite added 2.4%.

Read more at: https://economictimes.indiatimes.com/markets/stocks/news/us-stocks-jump-at-open-as-cpi-data-calms-rate-hike-jitters/articleshow/96204558.cms

House committee’s first-ever documentary taps into ‘immense power’ of personal stories to spotlight economic disparity

‘I really want to inspire everybody,’ says Bay Area business owner featured in ‘Grit & Grace’ documentary, narrated by Sarah Jessica Parker.

Read more at: http://www.marketwatch.com/news/story.asp?guid=%7B20C06575-04D4-B545-7167-A85C4EEAA403%7D&siteid=rss&rss=1

The Margin: Elon Musk loses spot as the richest person in the world as Tesla shares drop

Who is the richest person in the world? Jeff Bezos doesn’t own the top spot, either.

Read more at: http://www.marketwatch.com/news/story.asp?guid=%7B20C06575-04D4-B545-7168-6B62AFA60C28%7D&siteid=rss&rss=1

Futures Movers: Oil prices end at a more than 1-week high on cold weather forecasts, CPI reading

Oil futures rally on Tuesday, as colder weather forecasts boost energy demand prospects, and a lower-than-expected U.S. inflation reading pressures the dollar.

Read more at: http://www.marketwatch.com/news/story.asp?guid=%7B20C06575-04D4-B545-7167-C2530EE2A9CE%7D&siteid=rss&rss=1