31 DEC 2024 Market Close & Major Financial Headlines: Last Day Of Trading For 2024 Shows Indices Down And Commodities Closing Up

Gold Price Rally Set to Continue in 2025

The untrammelled ascent of bitcoin has occupied the attention of many market watchers of late, with Donald Trump’s election to the White House sending the cryptocurrency – and others like it – on an eye-watering tear. Bitcoin has risen nearly 50 per cent since November 3 – the eve of the US election – while Dogecoin, a so-called ‘memecoin’ which many crypto investors associate with Elon Musk, has more than doubled in the same period. But despite crypto dominating the column inches, there has been another…

Read more at: https://oilprice.com/Metals/Gold/Gold-Price-Rally-Set-to-Continue-in-2025.html

European Hot Rolled Coil Prices Surge as Mills Seek Revenue Recovery

Via Metal Miner   Prices for hot rolled coil in Western Europe have risen further in the past month as mills seek to regain lost revenue from the declines of 2024. As the steel industry looks to 2025, this could have significant implications for prices and partnerships. “People are buying before year’s end. I’ve got several bids,” one market observer told MetalMiner on December 19. End users tend to seek material towards year’s end to hedge against expected price increases at the start of a new calendar year.…

Read more at: https://oilprice.com/Metals/Commodities/European-Hot-Rolled-Coil-Prices-Surge-as-Mills-Seek-Revenue-Recovery.html

Oil Prices Remain Rangebound as 2024 Draws to a Close

Oil prices are ending the year very close to where they started the fourth quarter, with very limited movement in the last three months despite some major catalysts.- Global LNG exports grew at the slowest pace since 2015 despite natural gas demand being forecast to grow by around 2.5% this year, with limited capacity additions adding to pricing pressures seen across the year. – Annual LNG shipments will total 414 million tonnes of LNG in 2024, up a marginal 0.4% compared to the previous year, with the United States posting the same 87…

Read more at: https://oilprice.com/Energy/Energy-General/Oil-Prices-Remain-Rangebound-as-2024-Draws-to-a-Close.html

The Factors That Will Drive Oil Prices in 2025

This year in oil has been marked by chronic trader pessimism about Chinese demand and an equally chronic downplaying of supply disruption risks. This has made for a rather stable year in prices—and the stability could continue in 2025, on a few conditions. Brent crude and West Texas Intermediate appear set to end the year at nearly the same levels that they started. WTI started 2024 at a little over $70 per barrel and is about to end a little below that. Brent crude looks like it will post a little more noticeable loss, starting the year…

Read more at: https://oilprice.com/Energy/Energy-General/The-Factors-That-Will-Drive-Oil-Prices-in-2025.html

Revisiting the Top 5 Biggest Energy Stories of 2024

The energy sector in 2024 was marked by steady progress rather than seismic shifts, with moderate oil prices reflecting a year largely unshaken by geopolitical turbulence. Here’s a closer look at some of the key energy stories that defined the year. 1. U.S. Oil Production Reaches Historic Highs In 2024, the United States continued its upward trajectory in oil production, surpassing the previous record set in 2023. That means that once again, the U.S. produced more oil than any country in history. Final numbers won’t be available until…

Read more at: https://oilprice.com/Energy/Energy-General/Revisiting-the-Top-5-Biggest-Energy-Stories-of-2024.html

Is The Iraqi Oil Export Embargo Set To Be Lifted After Landmark Legal Ruling?

It is coming up to two years since oil exports from the semi-autonomous Kurdistan region of Iraq (KRI) through the Iraq-Turkey Pipeline (ITP) were halted by the Federal Government of Iraq (FGI). Billions of dollars in export revenues have been lost by both sides, in addition to the many foreign oil firms working in the region. However, according to local news sources, on 18 December the Karkh Court of Appeals in Baghdad reversed previous rulings favouring the FGI’s Oil Ministry. These had sought to permanently invalidate foreign firms’…

Read more at: https://oilprice.com/Energy/Crude-Oil/Is-The-Iraqi-Oil-Export-Embargo-Set-To-Be-Lifted-After-Landmark-Legal-Ruling.html

Red Sea Shipping Rebound Forecasted for Late 2025

Suez Canal revenue has plunged 60% this year, a loss of $7 billion for Egypt, amid attacks on shipping in the Red Sea and ongoing regional tensions. President Abdel Fattah al-Sisi in a statement blamed rising geopolitical challenges for the decline but offered no other details, according to published reports. Egypt collects tolls on vessels that transit the canal, a key route for maritime commerce.  Since late 2023, Houthi fighters based in Yemen have disrupted global trade by attacking merchant and naval vessels in the Red Sea, just south…

Read more at: https://oilprice.com/Geopolitics/International/Red-Sea-Shipping-Rebound-Forecasted-for-Late-2025.html

Biden Administration’s Final Aid Package to Ukraine Aims to Bolster Defense

The White House has announced a $2.5 billion aid package to Ukraine and pledged to “continue surging” aid to get it to the authorities in Kyiv “as quickly as possible.” The White House said in a statement on December 30 that the pledge includes an additional $1.25 billion drawdown package for the Ukrainian military and a $1.22 billion Ukraine Security Assistance Initiative (USAI) package. “I’ve directed my Administration to continue surging as much assistance to Ukraine as quickly as possible — including drawing down older U.S. equipment for Ukraine,…

Read more at: https://oilprice.com/Geopolitics/International/Biden-Administrations-Final-Aid-Package-to-Ukraine-Aims-to-Bolster-Defense.html

Carlos Slim Invested $1B In American Oil & Gas Companies In 2024

Carlos Slim, Latin America’s richest man, boosted his stakes in American energy companies in the current year as the world’s leading tycoons continue betting on fossil fuels. Slim invested $602 million in Parsippany, New Jersey-based refiner PBF Energy Inc. (NYSE:PBF), boosting his stake to 25%, and also bought $326 million worth of shares in Houston-based oil producer Talos Energy Inc. (NYSE:TALO). Last year, the Mexican billionaire’s Grupo Carso SAB agreed to acquire PetroBal SAPI’s stake in two oil fields in Campeche…

Read more at: https://oilprice.com/Latest-Energy-News/World-News/Carlos-Slim-Invested-1B-In-American-Oil-Gas-Companies-In-2024.html

Ukraine To Quadruple Gas Transport Fees After Russia Deal Expires

Ukraine will quadruple its domestic gas transmission tariffs for consumers from Jan. 1 as it tries to offset the impact of lost revenue after its gas transit deal with Russia came to an end on Monday. The Ukrainian regulator has approved a decision to increase domestic gas transmission tariffs to about 502 hryvnias ($11.95) for 1,000 cubic meters, up from 124 hryvnias ($2.95) previously. “In 2024, 85% of our revenue came from transporting gas originating in the Russian Federation. It means that only 15% remains for us from domestic customers,”…

Read more at: https://oilprice.com/Energy/Natural-Gas/Ukraine-To-Quadruple-Gas-Transport-Fees-After-Russia-Deal-Expires.html

Cheniere Energy Commences LNG Production At Corpus Christi Stage 3 Project

Cheniere Energy  (NYSE:LNG) has for the first time started producing liquefied natural gas (LNG) from the first train (Train 1) of its Corpus Christi Stage 3 Liquefaction Project. As of Nov. 30, the overall project completion for the project was close to 76%; however, the company expects substantial completion of achieved at the end of the first quarter of 2025. The project consists of seven midscale trains, projected to produce over 10 million tonnes per annum (mtpa) of LNG. Meanwhile, in a long-awaited report, released on Tuesday, the Energy…

Read more at: https://oilprice.com/Latest-Energy-News/World-News/Cheniere-Energy-Commences-LNG-Production-At-Corpus-Christi-Stage-3-Project.html

Exxon and Chevron Expand Global Hiring Push

The U.S. oil and gas supermajors, Exxon and Chevron, have seen their employee numbers grow in the United States in 2024, but they have also posted job openings overseas, including in India, the Philippines, and Argentina, new research by data and analytics company GlobalData showed. Overall, the number of job postings at Exxon and Chevron declined this year, but hiring trends remain positive and relatively better compared to pre-Covid numbers, according to the analytics firm.     These hiring trends are valid for the entire global…

Read more at: https://oilprice.com/Energy/Energy-General/Exxon-and-Chevron-Expand-Global-Hiring-Push.html

Europe Faces Coldest Winter Spell As Gas Supply Concerns Mount

Northwest Europe is bracing itself for what is expected to be later this week the coldest snap so far this winter, hours ahead of the expiry of the deal for Russian gas transit via Ukraine to central Europe.   Temperatures in the UK, France, and Germany are expected to plunge at the end of this week, which would raise gas demand for heating and electricity generation. This happens as Europe is burning through its natural gas in storage at the fastest pace in years. As of December 28, the natural gas storage sites across the EU were full at…

Read more at: https://oilprice.com/Latest-Energy-News/World-News/Europe-Faces-Coldest-Winter-Spell-As-Gas-Supply-Concerns-Mount.html

U.S. Gasoline Prices Set for Lowest Annual Average Since 2021 Next Year

The average U.S. gasoline price is expected to fall in 2025 from this year and average $3.22 per gallon, marking the lowest annual average since 2021, the latest projections by GasBuddy shared exclusively with CNN showed on Monday. The year 2024 ends with a U.S. national average price of $3.33 per gallon, according to the fuel savings platform. “2025 looks to continue the trend of slow-but-steady improvement at the pump,” Patrick De Haan, head of petroleum analysis at GasBuddy, told CNN in an interview. U.S. gasoline prices have dropped…

Read more at: https://oilprice.com/Energy/Energy-General/US-Gasoline-Prices-Set-for-Lowest-Annual-Average-Since-2021-Next-Year.html

Senegal’s First Oil Exports Push Economic Growth to Record High

Senegal is seeing a record jump in economic growth after its first oil project and oil exports were launched in the middle of 2024. Senegal’s gross domestic product surged by 8.9% in the third quarter compared to the second quarter and soared by 11.5% compared to the same quarter of 2023, data from the National Agency of Statistics and Demography, ANSD, showed on Monday. Non-oil GDP rose by 2.1% in Q3 compared to the second quarter, according to the official data. Senegal’s record-high growth rates follow the start-up of the Sangomar…

Read more at: https://oilprice.com/Latest-Energy-News/World-News/Senegals-First-Oil-Exports-Push-Economic-Growth-to-Record-High.html

S&P 500 posts 23% gain for 2024 as stocks close slightly lower in final session of year

The S&P has surged more than 23% this year, notching its second consecutive annual gain above 20%.

Read more at: https://www.cnbc.com/2024/12/30/stock-market-today-live-updates.html

The housing market is heading into 2025 with a worrying supply trend

More than half of homes for sale in November had sat on the market for at least 60 days without going under a contract of sale.

Read more at: https://www.cnbc.com/2024/12/31/housing-market-supply-stale.html

Horse racing is set for a resurgence, even as America’s oldest track closes

No catalyst for horse racing’s growth is more crucial at the moment than the revenue that comes from gambling.

Read more at: https://www.cnbc.com/2024/12/31/horse-racing-resurgence.html

Silicon Valley’s turn of fortune: Intel has worst year ever, while Broadcom enjoys record gain

Intel lost over 60% of its value in 2024, the biggest drop in its 53 years as a public company. Broadcom’s stock price more than doubled.

Read more at: https://www.cnbc.com/2024/12/31/silicon-valley-turn-of-fortune-intel-worst-year-broadcom-record-gain.html

This tax-free corner of the fixed income space still has plenty of potential in 2025

Rate policy and action in Washington remain on the radar for muni bond investors in the new year, but the tax-exempt issues are still attractive.

Read more at: https://www.cnbc.com/2024/12/31/this-tax-free-corner-of-the-fixed-income-space-still-has-plenty-of-potential-in-2025.html

Nearly all of Puerto Rico is without power on New Year’s Eve

A blackout hit nearly all of Puerto Rico early Tuesday, leaving more than 1.3 million clients in the dark. It could take up to two days to restore power.

Read more at: https://www.cnbc.com/2024/12/31/nearly-all-of-puerto-rico-is-without-power-on-new-years-eve.html

Grayscale’s Zach Pandl reveals how politics and the economy are driving bitcoin’s bull run

The crypto market has the wind in its sails as 2025 kicks off, especially given the current macro and political backdrop, according to Grayscale’s Zach Pandl.

Read more at: https://www.cnbc.com/2024/12/31/grayscales-zach-pandl-reveals-how-politics-and-the-economy-are-driving-bitcoins-bull-run.html

Military appeals court lets 9/11 plea deals proceed after defense secretary moves to rescind them

The U.S. Court of Military Commission Review rejected Defense Secretary Lloyd Austin’s attempt to unravel plea agreements with three 9/11 defendants.

Read more at: https://www.cnbc.com/2024/12/31/military-appeals-court-lets-9/11-plea-deals-proceed-after-defense-secretary-moves-to-rescind-them.html

Bitcoin was the best investment of 2024, but not without its usual volatility

Bitcoin was far and away the best performing asset class in 2024 thanks to new ETFs and hopes for a crypto-friendly White House.

Read more at: https://www.cnbc.com/2024/12/31/bitcoin-was-the-best-investment-of-2024-but-not-without-its-usual-volatility.html

Last Madoff victim fund payout brings recovery to nearly 94% of Ponzi scheme losses, DOJ says

More than 40,000 victims lost billions of dollars to Bernie Madoff, whose Ponzi scheme has been called the largest in the world.

Read more at: https://www.cnbc.com/2024/12/30/bernie-madoff-victim-fund-ponzi-scheme-doj.html

Art Cashin’s sons pay homage to NYSE legend by carrying on New Year’s poem tradition

For decades, UBS’ Art Cashin wrote a New Year’s poem. With Cashin’s passing, his sons sent this homage to their father.

Read more at: https://www.cnbc.com/2024/12/31/art-cashins-sons-pay-homage-to-nyse-legend-by-carrying-on-new-years-poem-tradition.html

Spent too much this holiday season? Here are steps you can take to avoid a repeat next year

Avoiding overspending during the holidays requires planning ahead and budgeting, experts said. That means there are steps you can take now.

Read more at: https://www.cnbc.com/2024/12/31/here-are-steps-you-can-take-to-avoid-overspending-next-holiday-season.html

U.S. Treasury says its computers were hacked by a Chinese ‘threat actor’ in a ‘major incident’

The “threat actor” was able to access the workstations via a compromised third-party cybersecurity service provider called BeyondTrust, the department said.

Read more at: https://www.cnbc.com/2024/12/30/us-treasury-says-chinese-hackers-stole-documents-in-major-incident-.html

University Of Iowa To Cut Social Justice Classes As Student Interest Declines

University Of Iowa To Cut Social Justice Classes As Student Interest DeclinesOne day in the near future people will look back on this era as the moment that America snatched common sense back from the jaws of unmitigated insanity.  Get Woke, Go Broke is becoming a cleansing wind as thousands of companies across the US abandon DEI and social justice programs in an effort to avoid total financial collapse.  That said, the last organizations you probably expected to see dumping their woke initiatives are colleges and universities.  After all, these “institutions of higher learning” have been ground zero for the woke mind virus for decades.

Surprisingly, even universities are now accepting the reality that social justice is a dead ideology walking.  The University of Iowa is following this trend after recently announced that it will be shutting down two social justice related departments and it will eliminate its social justice major as part of an effort to streamline and restructure some humanities offerings.

Under the

Read more at: https://www.zerohedge.com/political/university-iowa-cut-social-justice-classes-student-interest-declines

A New Year’s Resolution: Let’s Get The US Out Of The Censorship Business

A New Year’s Resolution: Let’s Get The US Out Of The Censorship BusinessAuthored by Jonathan Turley,

On this New Year’s Eve, billions of people will gather with friends to ring in 2025 with the hope of a better year to come.  For the first time in many years, free-speech advocates have a reason to celebrate.

With 2024, we will say goodbye to one of the most reviled offices in the Biden Administration: The Global Engagement Center. I discuss the Center in my recent book,

Read more at: https://www.zerohedge.com/political/new-years-resolution-lets-get-us-out-censorship-business

Market Outlook For 2025: Stuck Between An Inflationary Rock And An Economic Hard Place

Market Outlook For 2025: Stuck Between An Inflationary Rock And An Economic Hard PlaceSubmitted by QTR’s Fringe Finance

It is once again that time of year where I lay out what I believe will be the broader themes in the market for the year to come and identify the names I’ll be watching in particular in the year to come.

Once again, last year, my stocks to watch finished in the positive on an equal-weighted basis but failed to keep pace with the S&P 500, which is basically now made up of just the Magnificent Seven stocks. My 24 names I was watching for 2024 finished the year up 18.5% on an equal weighed basis versus 25.8% for the S&P 500, as of market close 12/27/2024. You can view these names here. (Disclaimer: I am terrible at math and didn’t double check these numbers at all.)

The three names I added in August, on an equal weighted basis, outperformed the S&P by 63.3% and were up on average 71% in a few short months.

The vibe going into 2025 is interesting. For those who have been paying attention, market breadth over the last two weeks has been awful, with decliners outpacing advancers for something like 10 or 11 days in a row. The top 10 S&P 500 names are the only stocks driving the market gains.

Read more at: https://www.zerohedge.com/markets/market-outlook-2025-stuck-between-inflationary-rock-and-economic-hard-place

Ever Decreasing Circles – Why The Worldwide Banking Ponzi-Scheme Must Be Reset

Ever Decreasing Circles – Why The Worldwide Banking Ponzi-Scheme Must Be ResetSubmitted by Luke Eastwood,

Since central banks became a ‘thing’ back in the early 20th century, we have seen a massive decline in the national finances of most countries around the world. Of course, predating this was the formation of the Bank of England and its role in the financing of the British empire, but of more significance to our current situation is the rise of America, the formation of the Federal Reserve, the Bank of International Settlements (BIS) and the World Bank Group (post Bretton Woods Conference) and the International Monetary Fund (IMF).

One could argue that all of these institutions exist not for the benefit of the world or humanity but to deprive nation states of their income and ownership of their resources, transferring both into the hands of private corporations and their shareholders. So today we are at a point in time where most countries are hideously in debt, many with debts far exceeding …

Read more at: https://www.zerohedge.com/markets/ever-decreasing-circles-why-worldwide-banking-ponzi-scheme-must-be-reset

Post Office campaigners vow to fight on as they get OBEs

Four former sub-postmasters are made OBEs in the New Year Honours list.

Read more at: https://www.bbc.com/news/articles/c2ld24g80xko

Women working at home could risk missing out, says Nationwide boss

The boss of the world’s biggest building society told the BBC that more needs to be done to support women at work.

Read more at: https://www.bbc.com/news/articles/c3e3y80vqp5o

Crypto fugitive Do Kwon extradited to US over $40bn crash

US authorities allege he was responsible for the collapse of two coins, prompting a massive crypto sell-off.

Read more at: https://www.bbc.com/news/articles/cwy30n29qx5o

Sebi introduces Mutual Funds Lite framework for passively managed schemes

Market regulator Securities and Exchange Board of India (Sebi) on Tuesday introduced a Mutual Funds Lite (MF Lite) framework for passively managed mutual funds schemes.

Read more at: https://economictimes.indiatimes.com/mf/mf-news/sebi-introduces-mutual-funds-lite-framework-for-passively-managed-mf-schemes/articleshow/116835165.cms

How top 10 equity mutual funds of 2024 performed in last three years

In 2024, Motilal Oswal Mutual Fund dominated equity mutual fund performance, with its Midcap Fund leading at a 57.47% return. The fund has consistently delivered positive returns over the past three years: 55.83% in 2021, 10.71% in 2022, and 41.68% in 2023.

Read more at: https://economictimes.indiatimes.com/mf/analysis/how-top-10-equity-mutual-funds-of-2024-performed-in-last-three-years/articleshow/116826465.cms

Oil prices finish 2024 little-changed, but some see scope for gains in 2025

Crude-oil prices climbed on Tuesday, but the U.S.-traded benchmark finished the year only marginally above where it started.

Read more at: https://www.marketwatch.com/story/oil-prices-finish-2024-little-changed-but-some-see-scope-for-gains-in-2025-80af630b?mod=mw_rss_topstories

Here’s what’s worth streaming on Netflix, Max, Disney+ and more in January 2025

Apple’s ‘Severance’ and Netflix’s ‘The Night Agent’ return for new seasons, while Max rolls out the throwback hospital drama ‘The Pitt’

Read more at: https://www.marketwatch.com/story/heres-whats-worth-streaming-on-netflix-max-disney-and-more-in-january-2025-9f7bd9d2?mod=mw_rss_topstories

Instead of sipping Champagne on New Year’s Eve, it may be time to invest in it

There’s a solid market for collectable bubbly, say experts, even if prices for some bottles have declined in the past year.

Read more at: https://www.marketwatch.com/story/instead-of-sipping-champagne-on-new-years-eve-it-may-be-time-to-invest-in-it-73374fd4?mod=mw_rss_topstories