28Dec2022 Market Close & Major Financial Headlines: Wall Street Opened In The Green, Trading Trended Down, And Finally Closed Lower Near Session Bottom

Is Washington’s Uzbekistan Strategy A Blueprint For Central Asia?

The United States and Uzbekistan recently concluded the second meeting of their Strategic Partnership Dialogue. As Uzbekistan is the most populous country in Central Asia and borders Afghanistan and the four other Central Asian states, U.S. policy regarding the republic is likely to be Washington’s blueprint for the region. As part of the dialogue, the Uzbek Minister of Foreign Affairs, Vladimir Norov, and his delegation had productive meetings with leaders of the State Department, the Defense Department, the U.S. Agency for International

Read more at: https://oilprice.com/Geopolitics/Asia/Is-Washingtons-Uzbekistan-Strategy-A-Blueprint-For-Central-Asia.html

Seven Oil Cap-Compliant Tankers Sail From Russia

Leading shipping journal Lloyds List has reported that seven loaded Suezmax vessels that are fully compliant with the $60 per barrel price cap and its requirements have sailed from Russian waters. According to the journal, checks have revealed that all seven vessels have secured insurance with International Group P&I clubs, which requires proof of compliance with the G7 cap of $60 per barrel before marine insurance can be provided. Three weeks ago, in a surprise twist to the Russian oil saga, Turkey announced that it will start

Read more at: https://oilprice.com/Latest-Energy-News/World-News/Seven-Oil-Cap-Compliant-Tankers-Sail-From-Russia.html

ExxonMobil Sues EU Over Investment-Destroying Windfall Profit Tax

Hitting back at Brussel’s imposition of a windfall tax on oil companies, Exxon Mobil Corp is suing the European Union on the grounds that the tax will hinder investment and end up being counter-productive, according to media reports. According to the Financial Times, the first to report the story, Exxon filed the lawsuit at the European General Court in Luxembourg City on Wednesday through its German and Dutch subsidiaries. The lawsuit challenges the European Union Councils’ legal authority to impose a windfall tax using

Read more at: https://oilprice.com/Energy/Energy-General/ExxonMobil-Sues-EU-Over-Investment-Destroying-Windfall-Profit-Tax.html

Credit Suisse Predicts $63 Oil

Brent crude prices have been on a sharp decline since peaking in June, nearly giving up all the year’s gains. And Credit Suisse says the selloff is not yet over. The market remains well below its 55-Day Moving Average and 200DMA at 89.01 and 100.67, and with medium-term momentum declining and global growth concerns looming, we think further weakness is likely to follow. Brent is likely in due course to see further downside towards the 61.8% retracement at 63.02, where we would have higher confidence of a more stable floor and for a

Read more at: https://oilprice.com/Latest-Energy-News/World-News/Credit-Suisse-Predicts-63-Oil.html

Excelerate Energy Delivers Finlands First Ever Floating LNG Terminal

Excelerate Energy, Inc. (NYSE: EE) announced on Wednesday that its floating storage and regasification unit (“FSRU”), the Exemplar, has anchored at Finlands port of Inkoo, heralding a major move in the country’s goals to reduce independence on Russian natural gas. The FSRU Exemplar measures 291 meters long and 43 meters wide with a storage capacity of 150,900 m3 of LNG. The floating platform can process more than 5 billion cubic meters per year (bcm/y) of regasification capacity. “The arrival of the FSRU Exemplar at the

Read more at: https://oilprice.com/Energy/Natural-Gas/Excelerate-Energy-Delivers-Finlands-First-Ever-Floating-LNG-Terminal.html

Surging Energy Costs Cripple UK Ceramics Industry

Soaring energy bills threaten to collapse the UK’s ceramics industry as energy-intensive industries in Europe continue to suffer from high energy costs. Some ceramics companies have seen their energy bills jump tenfold, Bloomberg reports. The industry is forced to curtail production and cut jobs as the costs have become unsustainable for many manufacturers. Despite the recent UK government support to businesses to cope with soaring energy costs, the ceramics industry needs additional support, the main association said earlier this month.

Read more at: https://oilprice.com/Latest-Energy-News/World-News/Surging-Energy-Costs-Cripple-UK-Ceramics-Industry.html

‘Avatar: The Way of Water’ makes $1 billion in 14 days, even with Covid weighing on China

Worldwide ticket sales for Disney and James Cameron’s “Avatar: The Way of Water” have topped $1 billion.

Read more at: https://www.cnbc.com/2022/12/28/avatar-sequel-box-office-tops-1-billion-despite-covid-in-china.html

Southwest cancellations continue as rival carriers cap fares to help stranded flyers

The airline cut another 60% of its schedule even as operations at other airlines improved.

Read more at: https://www.cnbc.com/2022/12/28/southwest-cancels-more-flights-rival-carriers-cap-fares-for-stranded-flyers.html

AMC shares hit a 52-week low as recent moves and gimmicks fail to win over investors

Shares of AMC Entertainment have fallen more than 85% so far this year, sinking below $4.

Read more at: https://www.cnbc.com/2022/12/28/amc-entertainment-stock-falls-hits-low.html

Tesla made headlines in 2022, but the top-performing auto stock had nothing to do with EVs

The year in automotive stocks wasn’t just about Elon Musk and Tesla. There were losses across the board, but some didn’t lose so much.

Read more at: https://www.cnbc.com/2022/12/28/top-2022-auto-stocks-ferrari-outshines-ev-makers-tesla.html

Why restaurant chains are investing in robots and what it means for workers

Restaurant chains experimented with automation this year as the labor crunch pressured their profits.

Read more at: https://www.cnbc.com/2022/12/27/restaurant-chains-are-investing-in-robots-bringing-change-for-workers.html

U.S. will require airline passengers traveling from China to test negative for Covid

The requirements, which apply regardless of nationality and vaccination status, start on Jan. 5.

Read more at: https://www.cnbc.com/2022/12/28/us-will-require-airline-passengers-traveling-from-china-to-test-negative-for-covid-.html

2023 could be another difficult year for the auto industry – here’s why

Supplies of new cars are finally improving. But will the automakers have to cut prices to find enough buyers?

Read more at: https://www.cnbc.com/2022/12/27/why-2023-could-be-another-difficult-year-for-the-auto-industry.html

Chinese EV maker Nio cuts delivery guidance for the fourth quarter, citing Covid disruptions

Nio had expected to deliver up to 48,000 EVs in the fourth quarter, but Covid-linked supply chain issues pushed the Chinese company to cut its guidance.

Read more at: https://www.cnbc.com/2022/12/27/nio-cuts-4q-delivery-guidance-cites-covid-disruption.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

FedEx and UPS warn storm could delay holiday packages, airlines cancel thousands of flights

High winds, snow and bitter cold from severe winter weather 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

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

SpaceX Launches Next-Gen Starlink Satellites Into Low Earth Orbit

There has been some concern with more than a million “active subscribers” on the Starlink network that median download speeds are slowing. To solve this, Starlink has launched the first batch of next-generation satellites into orbit early Wednesday to add even more broadband capacity to the network.

Falcon 9 launches 54 Starlink satellites to low-Earth orbit; completes SpaceX’s 60th mission of 2022! pic.twitter.com/MIstToPIyL

— SpaceX (@SpaceX) December 28, 2022

Around 0434 ET, a Falcon 9 rocket with 54 upgraded Starlink internet satellites was launched from Cape Canaveral Space Force Station in Florida. The payload was successfully delivered to low Earth orbit.

“Under our new license, we are now able to deploy satellites to new orbits that will add even more capacity to the network.

“Ultimately, this enables us to add more customers and provide faster service, particularly in areas that are currently oversubscribed,” Jesse Anderson, a SpaceX production and engineering manager, said during live launch commentary.

SpaceX’s Gen2 …

Read more at: https://www.zerohedge.com/technology/spacex-launches-next-gen-starlink-satellites-low-earth-orbit

MicroStrategy Adds 2,500 Bitcoin To Holdings Despite Tax-Loss Harvesting

Authored by NAMCIOS via BitcoinMagazine.com,

The tech company led by Michael Saylor has increased its bitcoin holdings by 2,500 BTC despite selling bitcoin for the first time to generate a tax benefit.

Michael Saylor’s MicroStrategy bought 2,395 BTC for $42.8 million in cash between Nov. 1 and Dec. 21, 2022.

It then sold 704 BTC at a loss on Dec. 22 to offset previous capital gains.

MicroStrategy then bought 810 BTC on Dec. 24.

Software analytics company MicroStrategy has sold bitcoin for the first time since it first began adding the digital currency to its treasury in 2020.

The sale took place on December 22, 2022, according to a

Read more at: https://www.zerohedge.com/crypto/microstrategy-adds-2500-bitcoin-holdings-despite-tax-loss-harvesting

US To Require Negative COVID Tests After “Extremely Irresponsible” China Reopens Borders

Update (1500ET): US federal officials have stated that the US will require travelers from China to submit a negative COVID-19 test beginning on January 5th.

Why not now?

Is the Biden administration xenophobic for singling out Chinese travelers?

As we detailed earlier, Bloomberg reports that Italian health authorities will begin testing all arrivals from China for Covid after almost half of the passengers on two flights to Milan were found to have the virus.

Additionally, in Germany, health authorities are “closely watching” the situation in China, according to Health Ministry spokesman Sebastian Guelde.

Read more at: https://www.zerohedge.com/covid-19/extremely-irresponsible-china-reopens-borders-milan-sees-50-arrivals-infected-covid

In 2023 The Lazy Analyst Won’t Keep Up With Geopolitics

Authored by Tom Luongo via Gold, Goats, ‘n Guns blog,

Before I took on my current persona as either a “Putin Stooge,” a “shill for the Fed,” or a naïve apologist for neoliberalism, I used to be a chemist specializing in process efficiency and root cause analysis.

While I learned many things during those twenty-plus years, the most startling conclusion I came to was that laziness has a real place in process improvement.

If you really want some industrial or bureaucratic process streamlined, give that job to the guy who most hates having his time wasted. He will invariably find a way to make that ‘work’ into something he only has to do sparingly.

It led to one of my first rules of an organization if you want something done right give it to the “lazy” guy.

That “lazy” guy isn’t really lazy.

What he i …

Read more at: https://www.zerohedge.com/geopolitical/2023-lazy-analyst-wont-keep-geopolitics

Strikes: Airport, rail and driving test staff resume action

About 1,000 staff at six UK airports are once again taking industrial action over pay and conditions.

Read more at: https://www.bbc.co.uk/news/business-64102300?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

Domino’s Pizza considers selling Russian business

The firm operating the Russian franchise may sell up, 10 months after the invasion of Ukraine.

Read more at: https://www.bbc.co.uk/news/business-64107699?at_medium=RSS&at_campaign=KARANGA

Tech View: Nifty forms small green candle. What traders should do on Thursday

If Nifty manages to sustain above 18200 levels in the short term, then the downside breakout of the said support that happened on Friday could be considered as a false downside breakout, and such development is likely to have sharp positive implications on the market, said Nagaraj Shetti of HDFC Securities.

Read more at: https://economictimes.indiatimes.com/markets/stocks/news/tech-view-nifty-forms-small-green-candle-what-traders-should-do-on-thursday/articleshow/96571629.cms

Stocks for 2023: Analysts bet big on this bank that gave index-beating returns for 2 years!

The quality of earnings remained strong for ICICI Bank with a steady improvement in net interest margin, strong double-digit growth in core fee income, and lower credit costs. The strong improvement in domestic consumption has bolstered the lender’s retail loan book.

Read more at: https://economictimes.indiatimes.com/markets/stocks/news/stocks-for-2023-analysts-bet-big-on-this-bank-that-gave-index-beating-returns-for-2-years/articleshow/96562259.cms

Can top housing finance companies bounce back after a tepid year?

On BSE, there are 13 listed housing finance companies with a market cap of over Rs 250 crore. Stocks like Star Housing Finance and SRG Housing Finance have surged about 130% and 53%, respectively in 2022. While industry leader HDFC gained just 3%. Meanwhile, LIC Housing Finance jumped 12%, shows data from ACE Equity.

Read more at: https://economictimes.indiatimes.com/markets/stocks/news/can-top-housing-finance-companies-bounce-back-after-a-tepid-year/articleshow/96566500.cms

: Americans name their No. 1 financial New Year’s resolution — and the timing couldn’t be better

Consumers cited rising inflation and the threat of recession as the top reasons for making their 2023 financial plans.

Read more at: http://www.marketwatch.com/news/story.asp?guid=%7B20C06575-04D4-B545-7171-E3C31BF46FC6%7D&siteid=rss&rss=1

Where Should I Retire?: I’d like to live on water and am looking for a quiet, outdoorsy lifestyle, preferably on the East Coast. Where should I retire?

Looking for ideas on the best place for you to retire? Email HelpMeRetire@marketwatch.com.

Read more at: http://www.marketwatch.com/news/story.asp?guid=%7B20C06575-04D4-B545-7172-24A3A26216E1%7D&siteid=rss&rss=1

Take MarketWatch’s 2022 Quiz: How much do you know about the biggest financial stories of the year?

In a year of records and market turmoil, how will you score on this 10-question quiz?

Read more at: http://www.marketwatch.com/news/story.asp?guid=%7B20C06575-04D4-B545-7172-29CDD30312DB%7D&siteid=rss&rss=1