06 JAN 2025 Market Close & Major Financial Headlines: Markets Opened Fractionally Higher, S&P 500 And The Nasdaq Trend Lower, Dow Closes In The Red

Germany’s Solar Industry Faces Perfect Storm of Challenges

Germany’s solar industry is in “a lot of distress” a new report from Financial Times highlighted last week. A slump in consumer demand has led to bankruptcies and layoffs in Europe’s largest rooftop solar market. Many installation and distribution companies have gone under, been acquired, or had to change strategies. The oversupply of panels has driven prices down for consumers, but industry leaders warn it is deterring investors and jeopardizing a key sector for Europe’s climate goals, according to Financial Times.  Dries Acke, deputy…

Read more at: https://oilprice.com/Alternative-Energy/Renewable-Energy/Germanys-Solar-Industry-Faces-Perfect-Storm-of-Challenges.html

Germany And Italy Have Replaced Russian Gas Via Ukraine

Central European gas flows have fully adapted to the end of Russian gas supply via Ukraine, with Germany and Italy making up the shortfall. According to Austrian Grid Management, the country boosted imports from Germany and Italy when flows from Slovakia were halted after Ukraine declined to renew a 5-year gas transit deal with Russia. Slovakia has drawn on a connection with Hungary as its only source of imports so far in the new year after Gazprom stopped supplying Slovenský plynárenský priemysel (SPP) as the Ukraine transit…

Read more at: https://oilprice.com/Latest-Energy-News/World-News/Germany-And-Italy-Have-Replaced-Russian-Gas-Via-Ukraine.html

Russia’s Gas Cutoff Stokes Tensions in Moldova

When Russian natural gas stopped flowing westward across Ukraine on January 1, it was the end of an era. It was also a blow to Moscow, underscoring how President Vladimir Putin’s decision to wage all-out war against Russia’s neighbor has undermined its ability to use energy supplies as a lever of influence across much of Europe. But not in Moldova. Russia is seeking to use the cutoff, analysts and officials say, as a part of a concerted effort to weaken the pro-Western government in the small nation, which is sandwiched between Ukraine and…

Read more at: https://oilprice.com/Energy/Natural-Gas/Russias-Gas-Cutoff-Stokes-Tensions-in-Moldova.html

Nickel Prices Slump as EV Boom Fails to Materialize

Via Metal Miner   According to a Forbes report, the nickel business has become so lucrative that billionaire Kiki Barki, who built his fortune in coal mining, is now steering his Harum Energy toward nickel. Harum accelerated its nickel expansion this year through a series of strategic deals. Meanwhile, nickel prices ended 2024 below their 2023 close. Harum Makes Major Plays Amid Low Nickel Prices In January, Harum boosted its stake in Indonesian nickel smelter Westrong Metal Industry to nearly 81% at a cost of $215 million. By April, its subsidiary,…

Read more at: https://oilprice.com/Metals/Commodities/Nickel-Prices-Slump-as-EV-Boom-Fails-to-Materialize.html

Wall Street: 4 Assets to Avoid in 2025

Wall Street analysts have pencilled in strong gains for equity markets in 2025, following a robust performance in 2024. However, while analysts are optimistic about the outlook for the market as a whole, there are some assets Wall Street believes will underperform in the year ahead. Here are the four assets analysts are advising investors to avoid this year. Tesla On the first day of trading in 2025, Tesla was the worst performer in the entire S&P 500, falling more than six per cent. Is this a sign of things to come? The car company’s…

Read more at: https://oilprice.com/Energy/Energy-General/Wall-Street-4-Assets-to-Avoid-in-2025.html

Top Gas Turbine Maker Bets on Taiwan as Country Phase Outs Nuclear

One of the top natural gas turbine makers in the world, GE Vernova, sees big opportunities in Taiwan, which is set to phase out nuclear this year and needs more gas-fired generation to power its chip-making industry, GE Vernova’s chief executive Scott Strazik told Bloomberg in an interview published on Monday. Taiwan, which has one operational nuclear power reactor, plans to switch it off in the middle of 2025. Taiwan’s Democratic Progressive Party elected in January 2016, and re-elected in 2020, has a policy of phasing out nuclear…

Read more at: https://oilprice.com/Latest-Energy-News/World-News/Top-Gas-Turbine-Maker-Bets-on-Taiwan-as-Country-Phase-Outs-Nuclear.html

Venezuela Sees Jump in Oil Exports

Venezuela’s oil exports managed a notable 10.5% climb in 2024, hitting their highest levels since 2019. State oil company PDVSA and its joint venture partners have deftly maneuvered through shifting U.S. sanctions and a domestic economy teetering on chaos. The result? A respectable 772,000 barrels per day (bpd) average export volume for the year. Much of Venezuela’s success stems from Washington’s leniency under President Biden, who issued individual licenses that enabled Chevron and other partners to ship Venezuelan crude stateside.…

Read more at: https://oilprice.com/Energy/Crude-Oil/Venezuela-Sees-Jump-in-Oil-Exports.html

Sudan Lifts Force Majeure on Oil Flows to Red Sea Port

Following new security arrangements and improved security conditions, Sudan has lifted the 10-month-long force majeure on the pipelines transporting South Sudan’s oil through Sudan and onto Port Sudan on the Red Sea, Reuters reported on Monday, citing a letter from Sudan’s Energy Ministry it had seen. In March 2024, Sudan declared force majeure on crude oil exports from its landlocked neighbor South Sudan, following a major rupture in the pipeline carrying crude from South Sudan to the port in Sudan in an area with active…

Read more at: https://oilprice.com/Latest-Energy-News/World-News/Sudan-Lifts-Force-Majeure-on-Oil-Flows-to-Red-Sea-Port.html

The Race Is On Between West And East For Control In Syria

Following the surprise removal on 8 December of President Bashar al-Assad after 53 years of his family’s rule in Syria, long-dormant plans in the U.S. are being dusted off about what will happen next there and who will control it. The plans were drawn up in anticipation that Bashar al-Assad would fall soon after July 2011, a senior energy security source who worked closely with the administration of then-U.S. President Barack Obama exclusively told OilPrice.com. “At that point [when defectors from the Syrian army formed the Free Syrian…

Read more at: https://oilprice.com/Energy/Energy-General/The-Race-Is-On-Between-West-And-East-For-Control-In-Syria.html

Biden Bans Oil Drilling in Huge Coastal Areas Ahead of Trump Inauguration

The Biden Administration on Monday put more than 625 million acres of the U.S. coastal areas off limits for offshore drilling in a move that incoming President Donald Trump may find difficult to reverse. President Joe Biden – using his authority under Section 12(a) of the Outer Continental Shelf Lands Act – is issuing two Presidential Memoranda to protect all U.S. Outer Continental Shelf areas off the East and West coasts, the eastern Gulf of Mexico, and additional portions of the Northern Bering Sea in Alaska from future oil and natural…

Read more at: https://oilprice.com/Latest-Energy-News/World-News/Biden-Bans-Oil-Drilling-in-Huge-Coastal-Areas-Ahead-of-Trump-Inauguration.html

European Natural Gas Prices Surge to One-Year High on Tightening Supplies

Samantha Dart, co-head of global commodities research at Goldman Sachs, said colder-than-average weather across the EU “is a stronger driver” than the halt in Russian NatGas exports via Soviet-era pipelines running through Ukraine, which will, in turn, pressure EU NatGas prices higher. By Friday, EU NatGas prices reached levels not seen in over a year, exceeding 50 EUR/MWh.  “While this week’s key headline in natural gas has been the halt in the residual Russian gas flows through Ukraine, the main tightening driver of NW European gas fundamentals…

Read more at: https://oilprice.com/Energy/Natural-Gas/European-Natural-Gas-Prices-Surge-to-One-Year-High-on-Tightening-Supplies.html

India Looks to Expand Strategic Petroleum Reserve Sites

India has issued a tender to private companies to build and operate a new storage site for the Strategic Petroleum Reserve of the world’s third-largest crude oil importer. Indian Strategic Petroleum Reserve Limited (ISPRL), the state firm managing India’s government petroleum inventories, has issued a tender notice to private firms inviting them to bid for a storage site of 2.5 million metric tons at Padur for “commercial cum strategic petroleum reserves,” according to a tender notice seen by Reuters. The storage site would…

Read more at: https://oilprice.com/Latest-Energy-News/World-News/India-Looks-to-Expand-Strategic-Petroleum-Reserve-Sites.html

Saudi Arabia Hikes Its Oil Prices to Asia as Supply Tightens

The world’s top crude oil exporter, Saudi Arabia, has raised the price of its crude loading for Asia in February by more than expected as supply in the world’s largest-importing region is tightening with the continued OPEC+ cuts and reduced volumes from Iran and Russia. Saudi state oil giant Aramco has raised the price of its flagship crude grade, Arab Light, by $0.60 per barrel to a premium of $1.50 a barrel over the Oman/Dubai average, the benchmark off which Middle Eastern crude going to Asia is priced, a price list seen by Bloomberg…

Read more at: https://oilprice.com/Latest-Energy-News/World-News/Saudi-Arabia-Hikes-Its-Oil-Prices-to-Asia-as-Supply-Tightens.html

Green Deal Architect Says Wealthy People Should Pay for the EU Energy Transition

Richer people should pay more for the European transition to green energy, in a kind of solidarity system to share the burden, according to Frans Timmermans, the former European Commission vice president and one of the architects of the EU Green Deal. The European Green Deal is a key pillar of the EU’s ambition to become carbon neutral by 2050 and aims in an interim target of the bloc to have at least 55% less net greenhouse gas emissions by 2030, compared to 1990 levels. EU governments have recently seen a growing backlash against many of…

Read more at: https://oilprice.com/Latest-Energy-News/World-News/Green-Deal-Architect-Says-Wealthy-People-Should-Pay-for-the-EU-Energy-Transition.html

Biden Administration Plans More Sanctions on Russian Oil Exports

The Biden Administration is set to slap more sanctions on Russia’s oil exports by targeting tankers hauling Russian crude and products, sources familiar with the outgoing administration’s plans have told Reuters. “It is going to be a big package,” one of Reuters’s sources said. The current Administration plans to target vessels that carry Russian oil above the $60 per barrel price cap that Western allies have imposed on Russian crude and petroleum products. The scope of the upcoming sanctions is expected to include…

Read more at: https://oilprice.com/Latest-Energy-News/World-News/Biden-Administration-Plans-More-Sanctions-on-Russian-Oil-Exports.html

Fubo stock skyrockets 250% after streamer strikes a deal to combine with Disney’s Hulu+ Live TV

Both Hulu+ Live TV and Fubo are streaming services that mimic the traditional cable TV bundle, offering linear TV networks.

Read more at: https://www.cnbc.com/2025/01/06/disney-hulu-live-tv-fubo.html

Nvidia nears high, chip stocks soar after Foxconn reports record revenue

Global semiconductor stocks climbed on Monday after Foxconn posted record fourth-quarter revenue, suggesting the AI boom has far more room to run.

Read more at: https://www.cnbc.com/2025/01/06/global-chip-stocks-climb-on-foxconn-results-ai-server-demand.html

Trump’s election win certified by Congress on anniversary of Jan. 6, 2021, Capitol riot

President-elect Donald Trump won the 2024 election against Vice President Kamala Harris, who presided over Congress as it certified the results.

Read more at: https://www.cnbc.com/2025/01/06/congress-trump-harris-election-certification-jan-6.html

Canada’s Prime Minister Justin Trudeau announces decision to step down

Trudeau has been battling waning popularity and the specter of U.S. trade tariffs.

Read more at: https://www.cnbc.com/2025/01/06/canadas-prime-minister-justin-trudeau-resigns-as-liberal-party-leader.html

Sierra Space CEO leaves, as $5 billion company pushes to launch space plane

Sierra Space CEO Tom Vice left the company at the end of 2024 after 3½ years in the role.

Read more at: https://www.cnbc.com/2025/01/06/sierra-space-ceo-tom-vice-leaves.html

Trump reportedly considering important alteration to tariff plans

President-elect Donald Trump is considering a plan that still would apply tariffs to all nations but narrow the impact.

Read more at: https://www.cnbc.com/2025/01/06/trump-reportedly-considering-important-alteration-to-tariff-plans.html

RBC unveils its top stock picks for 2025

RBC’s list of top stock ideas for the new year included two additions: ConocoPhillips and MSCI.

Read more at: https://www.cnbc.com/2025/01/06/rbc-unveils-its-top-stock-picks-for-2025.html

Michael Barr to step down as the Fed’s head of banking supervision to avoid clash with Trump

There had been speculation that Trump might replace Barr after he takes office Jan. 20.

Read more at: https://www.cnbc.com/2025/01/06/michael-barr-to-step-down-as-the-feds-head-of-banking-supervision-avoiding-clash-with-trump.html

U.K. visitors from dozens of countries will have to pay a new entry fee starting this week

Starting Wednesday visitors to the U.K. from dozens of countries will have to pay a new travel authorization fee before entering.

Read more at: https://www.cnbc.com/2025/01/06/uk-visitors-new-entry-fee-electronic-travel-authorization.html

Bitcoin trades above $100,000 for first time since mid-December: CNBC Crypto World

CNBC Crypto World features the latest news and daily trading updates from the digital currency markets and provides viewers with a look at what’s ahead with high-profile interviews, explainers, and unique stories from the ever-changing crypto industry. On today’s show, Blockworks co-founder Jason Yanowitz discusses his crypto outlook for 2025.

Read more at: https://www.cnbc.com/video/2025/01/06/bitcoin-trades-above-100000-for-first-time-since-mid-december-cnbc-crypto-world.html

Biden signs bill to increase Social Security benefits for millions of public workers

The Social Security Fairness Act repeals two provisions that reduced Social Security benefits for some public workers who also receive pensions.

Read more at: https://www.cnbc.com/2025/01/05/biden-signs-social-security-bill-to-increase-benefits-for-millions-of-public-workers.html

Vail stock struggles as strike leads to long lines at Park City Mountain ski resort

Patrons complained of delays at the popular skiing destination.

Read more at: https://www.cnbc.com/2025/01/06/vail-stock-struggles-as-strike-leads-to-long-lines-at-park-city-mountain.html

Chrysler sales have shrunk 80% in two decades. Here’s how executives plan to bring it back

Once a relatively diversified brand, Chrysler now has only two models, both of them different versions of the same minivan.

Read more at: https://www.cnbc.com/2025/01/06/chrysler-revamp-declining-brand.html

4 Years Later: Americans Still Divided Over January 6

When a large mob of Trump supporters stormed the U.S. Capitol on January 6, 2021, in an alleged attempt to stop the certification of the 2020 presidential election, the images of the chaos unfolding at the historic building sent shockwaves around the world. After all, this was the United States, once a shining light of democracy, on what the media described as the precipice of political collapse.

Fast forward four years and Donald Trump, the man who was widely condemned (even by members of his own party) and later indicted for his role in the proceedings, is about to return to the White House.

Trump’s political comeback, which seemed impossible in the immediate aftermath of the attack on the Capitol, was accompanied by a gradual shift in the narrative of the events of January 6.

Back in 2021, Trump himself described the events as a “heinous attack on the United States Capitol”, promising that the protesters who had “defiled the seat of American democracy” would pay for their actions.

And pay they did.

As of December 6, 2024, the U.S. Justice Department had charged more than 1,500 individuals for federal crimes associated with the Capitol breach, of which almost 1,000 plead guilty to at least some of the charges and another 255 were found guilty in trial.

Read more at: https://www.zerohedge.com/political/4-years-later-americans-still-divided-over-january-6

More Details Emerge Of Plan To Kill Supreme Court Justice

Authored by Zachary Stieber via The Epoch Times,

A California man allegedly told authorities that he flew to the East Coast to kill Supreme Court Justice Brett Kavanaugh, according to newly filed court documents.

Nicholas Roske flew across the country from California to Virginia on June 7, 2022, landing just before midnight.

He got into a taxi and instructed the driver to take him to a house in Maryland where Kavanaugh and his family resided.

Roske, who had allegedly brought weapons with him, was close to Kavanaugh’s home on June 8, 2022, but received a call from his sister, whom he had texted, “I love you.”

“I told her what I was doing, I was up to, and she told me that that wasn’t the way to go about trying to make the world a better place and, you k …

Read more at: https://www.zerohedge.com/political/more-details-emerge-plan-kill-supreme-court-justice

Houthis Claim “Winged Missile & Drone” Attack On USS Harry S. Truman In Red Sea

During a Monday evening press conference, Houthi military spokesman Yahya Saree claimed that the Yemeni Armed Forces targeted the USS Harry S. Truman (CVN-75) aircraft carrier with missiles and drones in the Red Sea area.

Saree claimed that the Yemeni Armed Forces targeted US warships to thwart an imminent US-led “attack against our country.”

Here’s the complete statement:

Triumphing for the oppression of the Palestinian people and their Mujahideen and in response to the massacres against our people in Gaza, and within the fifth phase of the supportive stages in the battle of the Promised Conquest and the Holy Jihad.

The missile and UAVs forces of the Yemeni Armed Forces carried out a specific and joint military operation targeting the American aircraft carrier USS Harry S. Truman using two winged missiles and four drones north of the Red Sea, while the American enemy was preparing to launch a major attack a …

Read more at: https://www.zerohedge.com/military/houthis-claim-winged-missile-drone-attack-uss-harry-s-truman-red-sea

Conspiracies Too Awful To Imagine?

Authored by Victor Davis Hanson via American Greatness,

Over the decade of Donald Trump’s political career, the left – as exemplified by Democratic politicos, the media, academics, the Washington military hierarchy, and the permeant bureaucratic state – illustrated a level of furor, venom, and near madness unprecedented in modern American history.

Yet stranger still about such visceral, indeed lunatic hatred, despite Trump’s eccentricities and lack of a traditional political resume, his administration between 2017-21 was successful by traditional economic, military, security, and diplomatic standards. It was certainly not characterized by weaponizing the DOJ, Pentagon, CIA, or FBI, get-even vendettas, the use of lawfare, corruption, optional wars, open borders, hyperinflation, or a war on the environment—as predicted and alleged. Nevertheless, the idea of Trump as president justified to the left the grea …

Read more at: https://www.zerohedge.com/political/conspiracies-too-awful-imagine

Apple says it will update AI feature after BBC complaint

One of Apple’s new artificial intelligence feature is facing criticism for generating inaccurate news alerts.

Read more at: https://www.bbc.com/news/articles/cge93de21n0o

Nippon and US Steel sue government over blocked deal

The companies allege President Biden “ignored the rule of law to gain favor” with trade unions.

Read more at: https://www.bbc.com/news/articles/cewxvle12plo

Firms to raise prices due to tax and wage increases

Consumers could face higher costs in the coming months amid falling confidence among UK businesses.

Read more at: https://www.bbc.com/news/articles/c0j10420e2jo

Tech View: Nifty breaches 200 DEMA, signalling bearish sentiment. How to trade on Tuesday

The Nifty faced selling pressure, closing below 23,700 and breaching the 200-day EMA, signalling a bearish trend. Failure to hold current levels could see support at 23,270 and 23,000. A breakout above 24,000 is crucial to restore bullish momentum, said Mandar Bhojane of Choice Broking.

Read more at: https://economictimes.indiatimes.com/markets/stocks/news/tech-view-nifty-breaches-200-dema-signalling-bearish-sentiment-how-to-trade-on-tuesday/articleshow/116996667.cms

Nykaa shares rally 5% on strong Q3 update; net revenue growth higher than mid-20s

Nykaa share price: FSN E-Commerce Ventures, parent company of Nykaa, saw its shares surge 5.3% after announcing a strong Q3 FY2025, with net revenue growth expected to exceed the mid-twenties. The beauty vertical showed significant momentum, with GMV growth in the low thirties. Nykaa’s fashion vertical is expected to grow at around 20%. Shares have remained flat over the past year.

Read more at: https://economictimes.indiatimes.com/markets/stocks/news/nykaa-shares-rally-5-on-strong-q3-update-net-revenue-growth-higher-than-mid-20s/articleshow/116983745.cms

Titan shares climb over 2% as festive demand fuels 24% standalone sales growth in Q3

Shares of Titan Company rose 2.3% to Rs 3,527.20 on BSE. The surge followed a 24% year-on-year growth in its standalone business for the December quarter. The jewellery segment reported a 26% sales growth. Titan’s Watches & Wearables and EyeCare divisions also showed growth, while Caratlane expanded its presence domestically and internationally.

Read more at: https://economictimes.indiatimes.com/markets/stocks/news/titan-shares-climb-over-2-as-festive-demand-fuels-24-standalone-sales-growth-in-q3/articleshow/116981370.cms

$119 billion of U.S. government debt to be issued this week, raising questions about demand

A total of $119 billion in U.S. government debt issuance is about to drop this week through Wednesday, pushed forward due to Thursday’s abbreviated session for bond traders as the country marks the passing of former President Jimmy Carter.

Read more at: https://www.marketwatch.com/story/119-billion-of-u-s-government-debt-to-be-issued-this-week-raising-questions-about-demand-2918f33b?mod=mw_rss_topstories

30-year Treasury yield ends at highest since November 2023 after report of Trump tariff plans

Yields on U.S. government debt finished mostly higher on Monday as traders focused on a report about President-elect Donald Trump’s plans for applying tariffs.

Read more at: https://www.marketwatch.com/story/bond-yields-rise-as-key-data-looms-0e026bca?mod=mw_rss_topstories

This stock is entering ‘beast mode’ this year, says analyst

Chewy Inc. is well-positioned for a strong 2025, according to Mizuho Securities, which has upgraded the online retailer of pet products to outperform.

Read more at: https://www.marketwatch.com/story/this-stock-is-entering-beast-mode-this-year-says-analyst-4d680674?mod=mw_rss_topstories