When Will High-Interest Rates Impact Car Demand?

Via AG Metal Miner The Automotive MMI (Monthly MetalMiner Index) finally broke its downward trend and traded sideways, inching up by 2.53%. Meanwhile, myriad factors continue to pressure metal prices. The demand for vehicles among consumers remains strong. However, low inventories throughout most of 2022 placed a huge strain on the index. Without parts, the manufacturing of new vehicles could not and cannot happen. However, now inventory levels have risen while vehicle prices have dropped. The question MetalMiner continues to ask is: when

Read more at: https://oilprice.com/Energy/Energy-General/When-Will-High-Interest-Rates-Impact-Car-Demand.html

Russia Ramped Up Military Satellite Launches In 2022

During 2022, Russia launched 14 military satellites: three navigation satellites, two GLONASS-K1 satellites and the last GLONASS-M satellite; two electronic Lotos-S1 intelligence satellites; three inspector satellites, Cosmos-2558, launched in August, and both Cosmos-2561 and Cosmos-2562 launched in October; four reconnaissance satellites, the Neitron radar-imaging satellite, Bars-M cartography satellite and two EO-MKA (also known as EMKA) optical-imaging satellites (both were lost only several weeks after entering orbit in April and October, respectively);

Read more at: https://oilprice.com/Geopolitics/International/Russia-Ramped-Up-Military-Satellite-Launches-In-2022.html

U.S. Begins SPR Repurchase Program As Oil Prices Crash

The U.S. EIA reported that 4.7 million barrels of crude oil left the Strategic Petroleum Reserves in the week ending December 9, but now the United States has started the process of refilling the nation’s SPR. While 3 million barrels is a far cry from the 211 million barrels released so far this year, the gesture could be seen by some in the industry as proof that the Biden Administration intends to keep its work to refill when prices fall below $70 per barrel on a consistent basis, energy security advisor Amos Hochstein said earlier

Read more at: https://oilprice.com/Latest-Energy-News/World-News/US-Begins-SPR-Repurchase-Program-As-Oil-Prices-Crash.html

Fords Electric Pickup Is $15,000 More Expensive Than Its Original Listing Price

The base version of the Ford F-150 Lightning electric pickup now starts at $56,000, more than 40%, or about $15,000, over its original listing price earlier this year, according to Electrek. Ford hiked prices in August and October. Electrek discovered the stealth price hike after visiting the order page of the Detriot-based automaker’s website. The configuration and base price of all EV Lightning variants is shown below. “Interestingly, the prices of the other versions of the F-150 Lightning haven’t increased with this update. The cheapest

Read more at: https://oilprice.com/Latest-Energy-News/World-News/Fords-Electric-Pickup-Is-15000-More-Expensive-Than-Its-Original-Listing-Price.html

U.S. Oil Rig Count Slips Along With Crude Prices

The number of total active drilling rigs in the United States slipped again this week, according to new data from Baker Hughes published on Friday. The total rig count fell by 4 again to 776 this week197 rigs higher than the rig count this time in 2021, and 299 rigs lower than the rig count at the beginning of 2019, prior to the pandemic. Oil rigs in the United States fell by 5 this week, at 620. Gas rigs rose by 1, to 154. Miscellaneous rigs stayed the same at 2. The rig count in the Permian Basin stayed the same this week at 350. Rigs

Read more at: https://oilprice.com/Energy/Energy-General/US-Oil-Rig-Count-Slips-Along-With-Crude-Prices.html

Top UK Oil And Gas Producer Backs Out Of Licensing Because Of Windfall Tax

Harbour Energy, the biggest oil and gas producer in the UK North Sea, is backing out of the ongoing licensing round aimed at awarding more than 100 new licenses due to the hike in the windfall tax on North Sea operators. As a result of the extension of the energy profits levy… we are reviewing investment levels and company-wide capital allocation, a spokesperson for Harbour Energy told Reuters this week. This review is ongoing and, in the meantime, we have decided not to submit bids as part of this licensing process,

Read more at: https://oilprice.com/Energy/Energy-General/Top-UK-Oil-And-Gas-Producer-Backs-Out-Of-Licensing-Because-Of-Windfall-Tax.html

Ford again hikes the starting price of the F-150 Lightning pickup, now up 40% since launch

A new price increase of $4,000 means Ford has upped the entry-level pricing of the F-150 Lightning electric pickup by 40% since the vehicle’s launch.

Read more at: https://www.cnbc.com/2022/12/16/ford-f-150-lightning-electric-pickup-gets-another-price-hike.html

‘Avatar: The Way of Water’ makes $17 million in Thursday previews, driven by big 3D sales

James Cameron’s “Avatar: The Way of Water” snared $17 million during early screenings on its way toward a $175 million opening weekend.

Read more at: https://www.cnbc.com/2022/12/16/avatar-the-way-of-water-thursday-box-office.html

Tyson Foods stock slips to lowest levels since November 2020 in a three-day losing streak

Investors are losing confidence in the company amid growing margin pressure and operational issues this year.

Read more at: https://www.cnbc.com/2022/12/16/tyson-foods-stock-slips-to-lowest-levels-since-november-2020.html

Space company Maxar agrees to go private in $6.4 billion deal

Space infrastructure and imagery company Maxar agreed to go private through a deal led by Advent International.

Read more at: https://www.cnbc.com/2022/12/16/maxar-selling-to-private-equity-investors-advent-bci.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

U.S. safety regulators investigating GM’s Cruise robotaxis blocking traffic, causing collisions

U.S. automotive safety officials have opened a formal probe into the autonomous driving system used by General Motors’ self-driving vehicle unit Cruise.

Read more at: https://www.cnbc.com/2022/12/16/us-safety-regulators-probe-gms-cruise-self-driving-cars.html

We’re adding to an oil stock and see 3 other names as good buys in a down market

Markets are once again in selloff mode Friday.

Read more at: https://www.cnbc.com/2022/12/16/were-adding-to-an-oil-stock-and-see-3-other-names-as-good-buys-in-a-down-market.html

Tax pros ‘expecting the worst’ with Venmo, PayPal tax reporting change. How to handle a 1099-K for personal payments

While the 1099-K tax reporting change applies to business payments, it’s possible you’ll receive one for personal transfers. Here’s how to handle it.

Read more at: https://www.cnbc.com/2022/12/16/how-to-handle-1099-ks-for-personal-venmo-or-paypal-payments.html

Omicron boosters are 84% effective at keeping seniors from being hospitalized with Covid, CDC says

U.S. health officials have focused in particular on making sure older adults stay up to date on their Covid vaccines.

Read more at: https://www.cnbc.com/2022/12/16/omicron-boosters-are-84percent-effective-at-keeping-seniors-from-being-hospitalized-with-covid-cdc-says.html

Stocks making the biggest moves midday: Meta, Maxar Technologies, Ford, Goldman Sachs and more

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

Read more at: https://www.cnbc.com/2022/12/16/stocks-making-the-biggest-moves-midday-meta-maxar-technologies-ford-goldman-sachs-and-more-.html

‘Avatar: The Way of Water’ review roundup: See it on the biggest screen possible, critics say

Critics say James Cameron’s “Avatar: The Way of Water,” is a stunning piece of cinema. It scored a “Fresh” rating on Rotten Tomatoes.

Read more at: https://www.cnbc.com/2022/12/15/avatar-the-way-of-water-reviews-james-cameron-sequel.html

Home flipping profits drop at the fastest pace in over a decade

Investors are pulling out of the flipping market, as profits drop very quickly.

Read more at: https://www.cnbc.com/2022/12/15/home-flipping-profits-drop-at-fastest-pace-in-over-a-decade.html

FuboTV hit with cyberattack during World Cup semifinal match

Internet-TV bundle FuboTV said it was the target of a criminal cyberattack on Wednesday, affecting the service during a World Cup semifinal match.

Read more at: https://www.cnbc.com/2022/12/15/fubotv-hit-with-cyber-attack-during-world-cup-semifinal-match.html

DHS Says It Will Close Gaps Along Southwest Border Wall As End Of Title 42 Looms

Authored by Jeff Louderback via The Epoch Times (emphasis ours),

Nearly two years after newly elected President Joe Biden ordered a halt to construction on the project, the Department of Homeland Security announced on Dec. 13 that it will work to close gaps along the southwest border of the wall between the United States and Mexico.

A large gap in the border wall fence provides easy access for illegal migrants crossing into the United States from Mexico near Douglas, Ariz., on Aug. 24. (Allan Stein/The Epoch Times) Biden’s 2020 campaign promise was that he would not build “one more foot” of the border wall, which was one of former president Donald Trump’s most prominent objectives.

Read more at: https://www.zerohedge.com/political/dhs-says-it-will-close-gaps-along-southwest-border-wall-end-title-42-looms

SEC Begins To Ask Questions As Blackstone’s Flagship Funds Hit Redemption Limits

Blackstone Inc.’s stock is down 42% year-to-date. The $68 billion Blackstone Real Estate Income Trust (BREIT) informed investment advisors and portfolio managers last month who plowed money into the fund that redemption requests in November and December would be capped. Recall BREIT’s redemption request policy is 2% of NAV can be redeemed per month or 5% per calendar quarter. This was the first-time BREIT faced redemption limits, spooking money managers. Then the Blackstone Private Credit Fund (BCRED), one of the largest investment vehicles with a portfolio of corporate loans, was subjected to redemption limits as now the Securities and Exchange Commission investigates.

BREIT and BCRED enforcing redemption limits have been the chatter on Wall Street. Earlier this month, we shared a “BREIT Advisor Guide” that was emailed to money managers with a Q&A section to keep their clients calm and prevent a further run on the fund.

Read more at: https://www.zerohedge.com/markets/sec-begins-ask-questions-blackstones-flagship-funds-hit-redemption-limits

US Lawmakers Negotiating Over 7,500 ‘Pork-Barrel Spending’ Earmarks Totaling $16 Billion For Spending Bill

Authored by Bryan Jung via The Epoch Times (emphasis ours),

Congress is negotiating more than 7,500 “pork-barrel spending” earmarks totaling $16 billion for a year-long omnibus spending bill.

The US Capitol building in Washington, on Dec. 20, 2020. (Samuel Corum/Getty Images)The annual fiscal spending bill, which is meant to keep the federal government funded, will expire at the end of the current fiscal year, in September 2023.

A ban on earmarks was instituted in the House of Representatives in 2011 when Republicans controlled the chamber; but House Democrats recently revived them last year, with provisions to increase transparency.

House Republicans Cave on Earmark Spending, Outraging Fiscal ConservativesHowever, the Ho …

Read more at: https://www.zerohedge.com/political/us-lawmakers-negotiating-over-7500-pork-barrel-spending-earmarks-totaling-16-billion

Racial Discrimination Suit Against Tesla Seeks To Include More Than 100 Other Workers As Plaintiffs

The problems for Elon Musk continue to pile up in all directions around him.

Of the many outstanding issues Musk and Tesla (not to mention Twitter) are dealing with is a 2017 lawsuit that called the company a “hotbed for racist behavior.” The plaintiff in that case, Marcus Vaughn, is now trying to add more than 100 workers to the lawsuit.

Tesla meanwhile has asked a California appeals court to force the complaint into private arbitration, which would prevent a class action status, Bloomberg reported Thursday.

Five years ago, Vaughn had claimed that “racial discrimination and harassment were widespread at Tesla’s factory in Fremont, California”. The company punched back in a blog post and fired three …

Read more at: https://www.zerohedge.com/markets/racial-discrimination-suit-against-tesla-seeks-include-more-100-other-workers-plaintiffs

BA and Virgin halt ticket sales to Heathrow on strike days

The airlines were asked by the airport to “suppress demand” as Border Force staff go on strike.

Read more at: https://www.bbc.co.uk/news/business-64006185?at_medium=RSS&at_campaign=KARANGA

Who is striking? How Saturday 17 December’s walkouts will affect you

Travel disruption the weekend before Christmas – the BBC’s Zoe Conway has what you need to know.

Read more at: https://www.bbc.co.uk/news/uk-63978233?at_medium=RSS&at_campaign=KARANGA

Avanti West Coast rewarded with £6.5m in bonuses

The train company received bonuses last year, but has been criticised for poor service this year.

Read more at: https://www.bbc.co.uk/news/business-64006885?at_medium=RSS&at_campaign=KARANGA

Most IT stocks could fall 10-30% as slowdown starts to bite: Sandip Sabharwal

“Overall, given the valuations, the interest rate paradigm next year should be similar to this year, in terms of a single-digit return expectation. It will all depend on sector allocations and specific stocks. This year, if you were in the right stocks, you did very well. If you were in the wrong ones, you did quite badly. A similar thing should repeat next year.”

Read more at: https://economictimes.indiatimes.com/markets/expert-view/most-it-stocks-could-fall-10-30-as-slowdown-starts-to-bite-sandip-sabharwal/articleshow/96271530.cms

Tech View: Nifty charts blinking red. What traders should do next week

Chart readers said lower top formation on the daily scale and double top reversal formation on intraday charts, indicating further downside from the current levels.

Read more at: https://economictimes.indiatimes.com/markets/stocks/news/tech-view-nifty-charts-blinking-red-what-traders-should-do-next-week/articleshow/96279676.cms

Media stocks underperform in 2022 but may still see an upside of up to 40%

The Nifty Media index has given a negative return this year, down about 4.5%, while the benchmark index, Nifty50, rose about 6 percent during the same period. In the last five calendar years, Nifty Media ended in red four times. The only year it ended positively was 2021, when it gained about 35 percent but also outperformed Nifty50, which also saw a surge of about 24 percent. In 2022, 6 out of 10 Nifty Media stocks have given negative returns to their investors (Data Source: ACE Equity). Take a look:

Read more at: https://economictimes.indiatimes.com/markets/stocks/news/media-stocks-underperform-in-2022-but-may-still-see-an-upside-of-up-to-40/in-spotlight/articleshow/96274495.cms

Futures Movers: Oil prices finish lower as central banks stoke global growth fears

Oil futures settle lower on Friday after rate increases by major central banks and their accompanying messages stoke fears of a global downturn.

Read more at: http://www.marketwatch.com/news/story.asp?guid=%7B20C06575-04D4-B545-716B-0D5F4BFD49AD%7D&siteid=rss&rss=1

Starbucks workers begin three-day strike as part of union effort

Starbucks and the union have begun contract talks at about 50 stores, but no agreements have been reached.

Read more at: http://www.marketwatch.com/news/story.asp?guid=%7B20C06575-04D4-B545-716B-4F1073CE4364%7D&siteid=rss&rss=1

Market Snapshot: Dow down over 300 points, stocks head for first back-to-back weekly loss since September

U.S. stocks are down sharply Friday afternoon, on track to cement back-to-back weekly losses, as recession fears take a toll.

Read more at: http://www.marketwatch.com/news/story.asp?guid=%7B20C06575-04D4-B545-716A-FF4C048AB690%7D&siteid=rss&rss=1