23Dec2022 Market Close & Major Financial Headlines: Wall Street’s Three Main Indexes Traded Along The Unchanged Line And Closed Fractionally Higher

Could The Balkans Become The Next Frontline In Russias Geopolitical Game?

The EU voted on December 15th to grant Bosnia-Herzegovina candidate status, paving the way for it to gain European Union membership. While Bosnians have long bemoaned (tongue-in-cheek) the fact that a country such as Romania was so easily admitted to the exclusive club, while Bosnia was sidelined indefinitely, Brussels reasoned that it was nearly impossible to admit a country divided into ethno-nationalist entities with a three-headed dysfunctional government that is, at best, paralyzed when it comes to decision-making. It had long

Read more at: https://oilprice.com/Geopolitics/International/Could-The-Balkans-Become-The-Next-Frontline-In-Russias-Geopolitical-Game.html

How Europe’s Natural Gas Price Cap Could Backfire

1. Europes Gas Price Cap Might Backfire Soon- Members of the European Union have agreed to a gas price cap of 180 per MWh (approximately $56 per mmBtu) that could be triggered starting from February 15, 2023. – If the TTF front-month contract exceeds the suggested limit for three consecutive days and simultaneously if the exchange-traded spot price is 35/MWh above the reference European LNG price, the cap kicks in immediately. – Once the price cap is triggered, trades would not be permitted on the front-month, three-month, and

Read more at: https://oilprice.com/Energy/Energy-General/How-Europes-Natural-Gas-Price-Cap-Could-Backfire.html

Secret Talks, Chinas Covid Crisis, And Bidens SPR Buyback Wrap Up A Wild Year

Politics, Geopolitics & Conflict Evidence, most of it anecdotal, that China’s struggle with Covid has taken a turn for the worse is mounting, weighing on oil prices and global fears of recession. A report in the Wall Street Journal claims that a crematorium for Covid-19 deaths is overflowing with bodies and that it may be possible that Beijing is not reporting real death toll figures or positive cases. Adding to the unconfirmed reports, epidemiologists are coming out of the woodwork with dire predictions, such as more than 60% of Chinas

Read more at: https://oilprice.com/Energy/Energy-General/Secret-Talks-Chinas-Covid-Crisis-And-Bidens-SPR-Buyback-Wrap-Up-A-Wild-Year.html

Oil Investors Are Skeptical Of Brazils New President

Former president and leftist candidate Luis Inacio Lula da Silva emerged victorious from Brazil’s hotly contested October 2022 presidential election. Populist hard-right president Jair Bolsonaros’s tenure as the leader of Latin America’s largest democracy and oil producer, which was mired in controversy, ended after a single term. The return of Lula and his leftist Workers Party, known by its initials in Portuguese as PT, potentially ushers in another era of increased state involvement in Brazil’s oil industry and exploitation

Read more at: https://oilprice.com/Energy/Crude-Oil/Oil-Investors-Are-Skeptical-Of-Brazils-New-President.html

Oil Prices Jump After Russia Says It May Cut Production

After two weeks of silence in detailing how it would react to the G7 oil price cap, overnight the Kremlin raised the stakes for the west when state-run Tass news service quoted Deputy Prime Minister Alexander Novak as saying that Russia may reduce output by 500,000 to 700,000 barrels a day in response to the cap. While not yet formalized, President Putin plans to sign a decree on the nation’s reaction to the threshold on Monday or Tuesday, containing unspecified preventive measures.” A risk-on sentiment and a

Read more at: https://oilprice.com/Latest-Energy-News/World-News/Oil-Prices-Jump-After-Russia-Says-It-May-Cut-Production.html

Oil Prices Climb Despite Fears Of An Economic Slowdown

A larger-than-expected inventory draw and a major winter storm in the U.S. this week pushed oil prices higher, although fears of further monetary tightening have limited the rally. Oilprice Alert: This month’s Intelligent Investor looks for unrealized value in the oilfield sector, analyzing two very promising stocks. Sign up today to read that analysis, and if you aren’t enjoying it after the first month we’ll give you your money back. Friday, December 23rd, 2022A supportive EIA weekly report and concerns about the big freeze

Read more at: https://oilprice.com/Energy/Energy-General/Fears-Of-An-Economic-Slowdown-Keep-Oil-Prices-In-Check.html

FedEx and UPS warn storm could delay holiday packages, airlines cancel another 4,000 flights

High winds, snow, and bitter cold from Winter Storm Elliott are threatening holiday package deliveries before Christmas.

Read more at: https://www.cnbc.com/2022/12/23/storm-elliott-fedex-ups-warn-on-delays-airlines-cancel-more-flights.html

YouTube’s NFL ‘Sunday Ticket’ deal is a win for traditional TV networks, too – here’s why

The NFL’s deal with Google’s YouTube for “Sunday Ticket” could drive people back to the classic TV bundle.

Read more at: https://www.cnbc.com/2022/12/23/youtube-nfl-sunday-ticket-deal-win-for-traditional-media-companies.html

‘Avatar: The Way of Water’ needs a strong second week at the box office

This weekend will go a long way in determining whether James Cameron’s “Avatar: The Way of Water” will have a dominant box-office run.

Read more at: https://www.cnbc.com/2022/12/23/avatar-the-way-of-water-box-office-second-week.html

Marijuana’s black market is undercutting legal businesses

Across the country, thriving, unregulated marijuana businesses are threatening to undercut legal markets awaiting banking and tax reform.

Read more at: https://www.cnbc.com/2022/12/23/marijuana-black-market-undercuts-legal-business.html

Online car market Bring a Trailer closing out the year with a record $1.35 billion in sales

Online car market Bring a Trailer says a record $1.3 billion of cars were sold on its site this year as collectors took to buying classic and pre-owned cars.

Read more at: https://www.cnbc.com/2022/12/23/online-car-market-bring-a-trailer-closes-out-year-with-1point35b-in-sales.html

Most supply chain managers expect problems to continue at least through 2024

More than half of logistics managers surveyed by CNBC do not expect the supply chain to return to normal until 2024 or after.

Read more at: https://www.cnbc.com/2022/12/23/supply-chain-managers-expect-problems-continue-2024.html

NFL ‘Sunday Ticket’ goes to YouTube in seven-year, $2 billion annual deal

The NFL reached a deal with Google’s YouTube for its “Sunday Ticket” subscription package.

Read more at: https://www.cnbc.com/2022/12/22/nfl-sunday-ticket-youtube-tv.html

AMC plunges after theater company announces capital raise, proposes a reverse stock split

AMC Entertainment announced a capital raise to help pay down debt and proposed a reverse stock split.

Read more at: https://www.cnbc.com/2022/12/22/amc-plunges-after-theater-company-announces-capital-raise-reverse-stock-split.html

Airlines cancel thousands of flights as massive winter storm and bitter cold sweep U.S. ahead of Christmas

Airlines canceled more than 6,000 flights as extreme winter weather swept through the United States

Read more at: https://www.cnbc.com/2022/12/22/winter-storm-forces-airlines-to-cancel-hundreds-of-flights-christmas-week.html

New head of United Airlines pilot union resigns after online comments spark outcry

United Airlines Capt. Neil Swindells was narrowly elected earlier this week.

Read more at: https://www.cnbc.com/2022/12/22/head-of-united-airlines-pilot-union-resigns-after-comments-surface.html

Under Armour picks Marriott exec Stephanie Linnartz to be new CEO after a seven-month search

Under Armour ended its seven-month search for a new CEO by announcing that it had hired Marriott executive Stephanie Linnartz to take the job.

Read more at: https://www.cnbc.com/2022/12/21/under-armour-picks-new-ceo-stephanie-linnartz.html

The $52 billion plan to save New York’s low-lying areas from sea level rise and storm surges

Residents living on the far outskirts of Queens, New York, are enduring floods nearly every month and worsening coastal storms.

Read more at: https://www.cnbc.com/2022/12/22/queens-battled-monthly-floods-as-sea-levels-rise-storms-worsen.html

Of Course, The Feds Were All Over Twitter

Authored by Micah Meadowcroft via TheAmericanConservative.com,

Twitter was staffed by craven functionaries eager to please contacts and former colleagues in the national security state…

Readers will, I hope, forgive me for visiting a topic two weeks in a row. But perhaps they’ll agree that the so-called Twitter Files remain the most important news story out there. Not, as already mentioned, because we’ve learned something new from them, but rather because they confirm what you and I—dissidents, whether you wanted to be or not—already knew. We have been, so to speak, repeatedly asked, “Who are you going to trust, us bureaucrats, or your own lying eyes?” And it is not only nice, but fundamental to rational self-rule that we know it was them, the bureaucrats, and not our eyes that were lying …

Read more at: https://www.zerohedge.com/political/course-feds-were-all-over-twitter

More States Take Emergency Measures As ‘Historic’ Winter Storm Puts 240 Million Americans Under Weather Alerts

Authored by Tom Ozimek via The Epoch Times,

A powerful winter storm of historic proportions that the National Weather Service (NWS) warned could bring life-threatening conditions has prompted multiple states to announce emergency measures, with over 240 million people under some kind of weather warnings or advisories.

The latest bulletin from the NWS’ Weather Prediction Center, issued at around 3 a.m. on Dec. 23, warned of a “historic winter storm” that was poised to produce widespread disruption to big portions of the country.

Over 240 …

Read more at: https://www.zerohedge.com/weather/more-states-take-emergency-measures-historic-winter-storm-puts-240-million-americans-under

November Home Sales Suffer Biggest Crash In History

As a historic cold front blankets the continental US – because global warming of course – locking down hundreds of millions, and paralyzing the economy and infrastructure…

Me going outside to get a package delivery. pic.twitter.com/fwauQMZupJ

— Michael Antonelli (@BullandBaird) December 23, 2022

… the only thing that is more frozen is US housing, where according to the latest housing report from RedFin, home sales in November fell 35.1% Y/Y — the largest decline in Redfin’s records that date back to 2012.

Home-price growth also lost momentum, although home prices have rem …

Read more at: https://www.zerohedge.com/markets/november-home-sales-suffer-biggest-crash-history

Russia Close To Legalizing International Trade In Bitcoin, Crypto: Head Of Finance Committee

Authored by ‘NAMCIOS’ via BitcoinMagazine.com,

Russia’s Congressional finance committee chairman, Anatoly Aksakov, said the country is moving to greenlight international trade in cryptocurrency within the next month, according to a report by national news agency TASS.

“In January, we want to legalize cryptocurrencies to ensure foreign trade activities,” Aksakov said, per a translated version of the report.

The chairman highlighted that although Russia is taking steps to allow bitcoin and cryptocurrency payments for imports, there are no plans to encourage similar usage of the burgeoning assets within the boundaries of the nation’s territory.

“The circulation of cryptocurrencies as a means of payment on the territory of Russia will be prohibited, and liability will be prescribed in this regard,” he reportedly stated.

“But to pay for foreign trade transactions, we still assume the possibility of using cryptocurrencies, for example, for parallel imports.”

Russian officials have teased at this possibility for almost a year, following an intense package of Western sanctions deployed in the wake of the nation’s invasion of Ukraine.

Read more at: https://www.zerohedge.com/crypto/russia-close-legalizing-international-trade-bitcoin-crypto-head-finance-committee

Airport strikes could go on for months, says PCS union boss

The boss of the PCS union says Border Force staff walkouts on Friday could be the first of many.

Read more at: https://www.bbc.co.uk/news/business-64060584?at_medium=RSS&at_campaign=KARANGA

What are my rights if my flight is canceled?

Strikes and poor weather may cause disruption at airports, but passengers do have rights.

Read more at: https://www.bbc.co.uk/news/business-61646214?at_medium=RSS&at_campaign=KARANGA

Royal Mail strikes: Postal workers walk out in the run-up to Christmas

About 115,000 staff are walking out Friday and Saturday in a row over pay and conditions.

Read more at: https://www.bbc.co.uk/news/business-63420410?at_medium=RSS&at_campaign=KARANGA

Tech View: Nifty forms a long bearish candle this week. What traders should do in last week of 2022

Option data suggests a shift in a wider trading range between 17,500 and 18,300 zones while an immediate range between 17,600 and 18,100 zones.

Read more at: https://economictimes.indiatimes.com/markets/stocks/news/tech-view-nifty-forms-a-long-bearish-candle-this-week-what-traders-should-do-in-last-week-of-2022/articleshow/96456981.cms

Chart Check: Value buy? This private sector bank stock could give multi-bagger returns in 2023

The stock price started its fall from Rs 404 (August 2018). The stock breached Keltner channels on the downside and made a low of Rs 5.55 in March 2020. The stock recovered and made a high of Rs 20.83 (December 2020). Thereafter, the stock traded in the range of (Rs 10-18) from March 2021 to November 2022.

Read more at: https://economictimes.indiatimes.com/markets/stocks/news/chart-check-value-buy-this-private-sector-bank-stock-could-give-multibagger-returns-in-2023/articleshow/96443729.cms

US stocks open lower as investors assess inflation data

At 10:12 a.m. ET, the Dow Jones Industrial Average was down 69.67 points, or 0.21%, at 32,957.82, the S&P 500 was down 8.94 points, or 0.23%, at 3,813.45, and the Nasdaq Composite was down 67.80 points, or 0.65%, at 10,408.32

Read more at: https://economictimes.indiatimes.com/markets/stocks/news/us-stocks-open-lower-as-investors-assess-inflation-data/articleshow/96461115.cms

401(k) auto-enrollment in Secure 2.0 to help retirement savers

The Secure 2.0 measure would automatically enroll workers in the retirement savings plans, with the option for the participant to opt out.

Read more at: http://www.marketwatch.com/news/story.asp?guid=%7B20C06575-04D4-B545-716D-B988E9D6B74F%7D&siteid=rss&rss=1

Retirement plan lost-and-found, 401(k) auto-enrollment, among Secure 2.0 retirement measures

Provisions in Secure Act 2.0 include higher RMD age, higher catch-up contribution limits, and a student-loan matching program.

Read more at: http://www.marketwatch.com/news/story.asp?guid=%7B20C06575-04D4-B545-716D-25BF45D89637%7D&siteid=rss&rss=1

TaxWatch: IRS pauses rule requiring people to report PayPal, Venmo transactions over $600. Here’s what went wrong.

Efforts to raise the threshold were not ultimately included in a year-end spending deal.

Read more at: http://www.marketwatch.com/news/story.asp?guid=%7B20C06575-04D4-B545-7170-9F0B491D0E61%7D&siteid=rss&rss=1