The U.S. Solar Boom Is Still Facing Some Major Roadblocks

The United States is making a major bid to become competitive with China in clean energy supply chains. After neglecting domestic renewable energy manufacturing and production capacity for decades thanks to a powerful combination of cheap shale oil and gas and systematic inertia, the Biden administration’s Inflation Reduction Act seeks to put the United States back at the forefront of the global energy sector. But overcoming reliance on China, which currently dominates supply chains for solar panels and key rare earth minerals, won’t…

Read more at: https://oilprice.com/Alternative-Energy/Solar-Energy/The-US-Solar-Boom-Is-Still-Facing-Some-Major-Roadblocks.html

Norway Says It Will Use Wartime Oil Profits To Aid Ukraine

Oil-rich Norway says it will use the massive oil and gas profits it benefited from as a result of Russia’s war on Ukraine to help finance aid, including military assistance, for Kyiv. Speaking from Oslo on Thursday, Norwegian Prime Minister Gahr Støre said it was in Norway’s “national interest” to ensure that Ukraine does not lose the war with Russia, and Norway is “in a situation where we have room for action due to extraordinary income from the petroleum sector.”The prime minister was referring to Norway’s…

Read more at: https://oilprice.com/Latest-Energy-News/World-News/Norway-Says-It-Will-Use-Wartime-Oil-Profits-To-Aid-Ukraine.html

Spain Boosts LNG Port Capabilities But Russian Gas Is In The Mix

Spanish natural gas grid operator Enagas has said that the volume of liquefied natural gas (LNG) vessels loaded in Spain and setting sail for Europe doubled in 2022, year-on-year, with a total of 250 ships loading LNG in Spain. According to Enagas Chief Executive Arturo Gonzalo Aizpiri, “Our plants are contributing very significantly to the energy security of other nations and from the Barcelona plant, especially for Italy,” Enagas CEO Arturo Aizpiri told reporters, as cited by Reuters.  The announcement was made on Thursday at the unveiling…

Read more at: https://oilprice.com/Latest-Energy-News/World-News/Spain-Boosts-LNG-Port-Capabilities-But-Russian-Gas-Is-In-The-Mix.html

Global Battery Demand Is Soaring, But Supply Is Lagging Behind

There is an undeniable need for more electric batteries to be produced in line with the growing global demand for electric vehicles (EVs) and electronic devices. But companies are repeatedly falling behind on their production aims due to a multitude of challenges, from supply chain constraints caused by the Covid pandemic to lithium shortages in the face of rising demand. Costs have soared in recent years, in response to these challenges, and many once-promising startups have failed in their attempt to weather the storm and come out…

Read more at: https://oilprice.com/Energy/Energy-General/Global-Battery-Demand-Is-Soaring-But-Supply-Is-Lagging-Behind.html

EU President Promises 10th Round Of Sanctions On Russia

European Commission President Ursula von der Leyen and a team of 15 commissioners arrived in Kyiv on February 2 for the first-ever joint meeting with Ukraine’s government, with Russia’s invasion, launched on February 24 last year, and Ukraine’s bid for membership to the bloc on the agenda. Speaking at a joint news conference with Ukrainian President Volodymyr Zelenskiy after their meeting, von der Leyen said that sanctions have been exacting a heavy price on Moscow, “throwing it back by a generation,” with the EU price cap on oil alone making Russia…

Read more at: https://oilprice.com/Latest-Energy-News/World-News/EU-President-Promises-10th-Round-Of-Sanctions-On-Russia.html

U.S. Oil Is Replacing Russian Crude In EU Markets

As the EU contends with the lack of Russian crude oil as a result of its restrictions on crude oil imports and the G7’s price ceiling on Russian crude oil, the amount of U.S. crude oil being exported to Europe has increased significantly in recent months.  And it is expected to stay high.  Lucky for Europe, any decreases in the amount of Russian crude oil shipped into the EU is likely to be largely offset by the increase in the volume of American crude oil. In 2022 alone, total U.S. oil shipments to…

Read more at: https://oilprice.com/Energy/Crude-Oil/US-Oil-Is-Replacing-Russian-Crude-In-EU-Markets.html

South Korea Reinforces Its Position In European Defense Market

The recently established military relationship between South Korea and Poland is a multidimensional phenomenon, reaching beyond security in its traditional meaning. In fact, large-scale arms contracts are almost always politicized and followed or accompanied by intensified economic ties. Certainly, in the current circumstances, this view is shared by Warsaw and Seoul (see Part One). As a result of the COVID-19 pandemic and growing tensions between the United States and China, South Korean companies are following the global trend of shortening supply…

Read more at: https://oilprice.com/Geopolitics/International/South-Korea-Reinforces-Its-Position-In-European-Defense-Market.html

Morgan Stanley: Expect More EV Price Cuts Ahead

In a note out on Tuesday, Morgan Stanley wrote: “In our opinion, cutting price on Mach-E is relatively minor (approx. $100mm on price/mix prior to volume offsets). The more significant question for Ford and other Tesla challengers is what are they doing on the cost side to create enough room to follow Tesla’s current and future price cuts without compressing margins.” It continued: “Tesla is expected to elaborate upon its cost advantages in Giga castings, 4680 structural battery pack and other significant savings needed to ultimately bring forth…

Read more at: https://oilprice.com/Latest-Energy-News/World-News/Morgan-Stanley-Expect-More-EV-Price-Cuts-Ahead.html

New Microbatteries Could Power Bug-Sized Robots

University of Illinois Grainger College of Engineering researchers have created a high-voltage micro battery (> 9 V), with high energy and -power density, unparalleled by any existing battery design. Translating the electrochemical performance of large-format batteries to microscale power sources has been a long-standing technological challenge, limiting the ability of batteries to power microdevices, microrobots, and implantable medical devices. Material Science and Engineering Professor Paul Braun (Grainger Distinguished Chair in Engineering, Materials…

Read more at: https://oilprice.com/Energy/Energy-General/New-Microbatteries-Could-Power-Bug-Sized-Robots.html

Asia’s Oil Imports Hit Record High Despite Drop In Chinese Demand

Crude oil imports into Asia hit an all-time high in January, rising by 11% from December, despite lower arrivals into China, data from Refinitiv Oil Research cited by Reuters showed on Thursday. Asia’s total crude oil imports jumped by 11.1% month over month to 29.13 million barrels per day (bpd) in January. The imports last month beat the previous record from November, when Asia imported 29.10 million bpd of crude oil, according to the data.   Crude oil imports in China, the world’s top crude importer, are estimated to have fallen…

Read more at: https://oilprice.com/Latest-Energy-News/World-News/Asias-Oil-Imports-Hit-Record-High-Despite-Drop-In-Chinese-Demand.html

String Of Deals Highlights Russia’s Waning Central Asian Influence

In a speech at the signing of a historic border agreement between Uzbekistan and Kyrgyzstan in Bishkek, Uzbek leader Shavkat Mirziyoev heaped praise on his Kyrgyz counterpart, Sadyr Japarov. “I want to tell you that we have no problematic issues. In the 31 years of the independent history of Kyrgyzstan and Uzbekistan, this is the first time there has been this level of mutual relations,” Mirziyoev said at his pomp-filled state visit on January 26-27. “I want to give special thanks to my respected colleague Sadyr…. If not for his political will,…

Read more at: https://oilprice.com/Geopolitics/International/String-Of-Deals-Highlights-Russias-Waning-Central-Asian-Influence.html

OPEC’s Oil Production Drops In January As Saudi Arabia Cuts Output

OPEC’s crude oil production fell in January by around 60,000 barrels per day (bpd) due to cuts by top producer Saudi Arabia which may have been steeper than the Kingdom’s quota, a survey carried out by Bloomberg showed on Thursday. The entire OPEC-13 organization saw crude oil production drop to 29.12 million bpd due to lower output from Saudi Arabia and Libya, partly offset by slight gains among some other members. Saudi Arabia’s crude oil production is estimated to have dropped by 100,000 bpd to 10.38 million bpd, per Bloomberg’s…

Read more at: https://oilprice.com/Latest-Energy-News/World-News/OPECs-Oil-Production-Drops-In-January-As-Saudi-Arabia-Cuts-Output.html

The U.S. Is Facing A Major Challenge As Petrodollar Loses Force

On January 17, the Saudi minister of finance, Mohammed Al-Jadaan, announced that the Saudi state is open to selling oil in currencies other than the dollar. “There are no issues with discussing how we settle our trade arrangements, whether it is in the US dollar, whether it is the euro, whether it is the Saudi riyal,” Al-Jadaan told Bloomberg TV. If the Saudi regime does indeed embrace substantial trade in currencies other than the dollar as part of its oil-export business, this would signal a shift away from the dollar as the…

Read more at: https://oilprice.com/Energy/Energy-General/The-US-Is-Facing-A-Major-Challenge-As-Petrodollar-Loses-Force.html

Turkey: Oil Product Tankers Must Have Insurance From February 6

Turkey will require tankers carrying petroleum products through the Turkish straits to have a valid Protection and Indemnity (P&I) insurance cover as of February 6, a day after the EU embargo on seaborne imports of Russian oil products comes into effect.   The EU hopes to have in place price caps on Russian petroleum products in time for the embargo. Similarly to the $60 per barrel price cap on Russian crude, a price cap on products would allow buyers to use Western insurance services if they buy the products at or below the set price…

Read more at: https://oilprice.com/Latest-Energy-News/World-News/Turkey-Oil-Product-Tankers-Must-Have-Insurance-From-February-6.html

LNG Prices May Have Plunged, But A Rebound Is On The Horizon

Spot LNG prices have plummeted in recent weeks, allowing price-sensitive buyers in South Asia to re-enter the market from which they were priced out last year amid sky-high rates. Demand in Asia is tepid so far this year, but the wild card in energy markets—China—has yet to show the trajectory of a rebound in gas demand. Buying activity has been muted in recent weeks around the Lunar New Year holiday in China, and prices for delivery to north Asia slumped to the lowest levels since September 2021. Europe continues to welcome LNG cargoes,…

Read more at: https://oilprice.com/Energy/Energy-General/LNG-Prices-May-Have-Plunged-But-A-Rebound-Is-On-The-Horizon.html

S&P 500 advances more than 1% to its best level in five months as Meta leads tech-fueled rally

Investors await a trio of major tech earnings Thursday following Meta’s latest results.

Read more at: https://www.cnbc.com/2023/02/01/stock-market-futures-open-to-close-news.html

Alphabet set to report fourth-quarter results after the close

Google’s core business is mired in a period of slow growth as businesses reel in ad spending.

Read more at: https://www.cnbc.com/2023/02/02/alphabet-googl-earnings-q4-2022.html

Mortgage rates drop to the 5% range for the first time since September

The average rate on the 30-year fixed rate mortgage has fallen to 5.99%, according to Mortgage News Daily.

Read more at: https://www.cnbc.com/2023/02/02/mortgage-rates-five-percent-range-first-time-september.html

Amazon earnings are out — here are the numbers

Amazon reported earnings after the bell. Here are the results.

Read more at: https://www.cnbc.com/2023/02/02/amazon-amzn-earnings-q4-2022.html

Too far, too fast: These stocks are set to decline after hot 2023 starts

The S&P 500 is headed toward another positive week. However, analysts believe some stocks are getting ahead of themselves and are set to fall.

Read more at: https://www.cnbc.com/2023/02/02/too-far-too-fast-these-stocks-are-set-to-fall-after-hot-2023-starts.html

Ford is set to report results after the bell. Here’s what Wall Street expects

The automotive industry’s earnings and forecasts are being closely watched by Wall Street for any signs of weakening consumer demand.

Read more at: https://www.cnbc.com/2023/02/02/ford-f-earnings-q4-2022.html

Starbucks is about to report earnings. Here’s what to expect

Shares of Starbucks have risen more than 12% over the last year, fueled by optimism around China’s reopening and the persistence of U.S. coffee habits.

Read more at: https://www.cnbc.com/2023/02/02/starbucks-sbux-q1-2023-earnings.html

Apple reports earnings after the bell Thursday

Analysts expect the iPhone maker to post its first year-over-year revenue decline since 2019.

Read more at: https://www.cnbc.com/2023/02/02/apple-aapl-earnings-q1-2023.html

Ukraine war live updates: Kyiv says Russia could launch new offensive on war anniversary; Zelenskyy meets with EU officials

Ukraine’s Defense Minister Oleksiy Reznikov said Kyiv believes Russia will launch a new offensive on Feb. 24, the one-year anniversary of the invasion.

Read more at: https://www.cnbc.com/2023/02/02/ukraine-war-live-updates-latest-news-on-russia-and-the-war-in-ukraine.html

Meta shares rocket 23%, one of the best days in over a decade

Meta Platforms saw a slew of analyst upgrades as shares rose over 22% off the backs of a better-than-anticipated earnings report and optimistic commentary.

Read more at: https://www.cnbc.com/2023/02/02/meta-stock-rockets-20percent-on-solid-earnings-analyst-reactions.html

Bitcoin briefly rises above $24,000, extending its new year rally amid a broader gain in tech stocks

The jump coincided with a broader rally in stocks led by the Nasdaq as well as a drop in U.S. Treasury yields and the U.S. Dollar Currency Index.

Read more at: https://www.cnbc.com/2023/02/02/bitcoin-rises-above-24000-extending-its-new-year-rally-amid-a-broader-gain-in-tech-stocks.html

Coinbase jumps nearly 24% after federal securities suit dismissed

A federal suit against Coinbase was dismissed Wednesday, with a judge ruling against claims that it conducted unregistered securities offerings.

Read more at: https://www.cnbc.com/2023/02/02/coinbase-stock-jumps-after-federal-securities-suit-dismissed.html

Ticketmaster braces for Beyoncé’s ‘Renaissance’ tour amid fears of Taylor Swift-level demand

Ticketing for the North American leg of Beyoncé’s “Renaissance World Tour” begins Feb. 6, according to Ticketmaster and parent company Live Nation.

Read more at: https://www.cnbc.com/2023/02/02/beyonce-renaissance-tour-ticketmaster-demand.html

Hunter Biden $55,000 Offer For Russian Oligarch Info Falls Under Fresh Scrutiny

An email from Hunter Biden to US aluminum company Alcoa is raising fresh concerns over the first son’s access to classified documents which were recently discovered in his father’s home in Wilmington, Delaware, as House Republicans kick off investigations into allegations of influence peddling.

The emails which date back to 2011 reveal Hunter Biden offering to trade information on Russian oligarchs to Alcoa for $55,000, according to the NY Post’s original October 2021 report.

Specifically, Hunter – while his father was Vice President – offered to provide a “statistical analysis of political and corporate risks, elite networks associated with Oleg Deripaska, the Russian CEO of Basic Element company and United company RUSAL.”

Deripaska had notably just signed a metal supply agreeme …

Read more at: https://www.zerohedge.com/political/hunter-biden-55000-offer-russian-oligarch-info-falls-under-fresh-scrutiny

Nearly Half Of Chicago Public School Students Chronically Absent In 2022

Authored by Hannah Max via IllinoisPolicy.org,

Chronic absenteeism rates are higher in Chicago than statewide, with 49% of low-income Chicago students missing at least 10% of their days in school. That rate has nearly doubled since the pandemic.

Chronic absenteeism in Chicago Public Schools is on the rise: nearly 45% in 2022, according to state data. That compares to a statewide rate of 30%.

The rate is even higher among Chicago’s low-income students, with 49% missing at least 10% of their schooling, according to Illinois State Board of Education data.

The …

Read more at: https://www.zerohedge.com/political/nearly-half-chicago-public-school-students-chronically-absent-2022

MSNBC Anchor Hospitalized With Severe Myocarditis, Pericarditis

Authored by Jack Phillips via The Epoch Times (emphasis ours),

An MSNBC anchor revealed in a recent segment that she was hospitalized with heart inflammation in December, leading her to miss work for about a month.

Yasmin Vossoughian is seen in a file photo (Frederick M. Brown/Getty Images)Yasmin Vossoughian said that the health scare started on Dec. 20 when she started to experience chest pains that “waxed and waned over a period of 10 days.” Those pains “continued to get worse” over the coming days, she added.

The anchor, who hosts a weekend program on the left-wing network, said she …

Read more at: https://www.zerohedge.com/medical/msnbc-anchor-hospitalized-severe-myocarditis-pericarditis

Trader Makes Huge $80 Million Bet Fed Is Wrong Again, Will Cut Below 4.2% By Year End

Earlier this week, we quoted Bloomberg trader and market commentator Vince Cignarella who said that “In More Than 40 Years Of Trading, Never Have I Witnessed A Market Fighting The Fed As Boldly As This One” and judging by Powell’s remarkable verbal pivot yesterday, there was good reason for that: the market was spot on, and Powell appears to have conceded that inflation will run much hotter, as he refuses to push back against risk prices anymore.

So now that Powell pussied out, it’s open season on the residents of Marriner Eccles, and as Bloomberg reports a trader has put on a massive bet that the Fed will soon cave on promise that it will not cut rates this year, but will instead start slashing rates at a frenzied pace later this year.

The $80 million bet which was placed via options tied to the Secured Overnight Financing Rate, or SOFR, underscores the sentiment shift across markets that not only is the Fed’s tightening cycle almost over, but that the next step will be an accelerating easing campaign.

As Bloomberg’s Edward Bolingbroke observed, an unidentified investor started amassing the position in the morning and continued buying through the afternoon as Fed Chair Jerome Powell expressed confidence that inflation was improving.

The trade’s $80 million outlay would turn into a $400 million profit if t …

Read more at: https://www.zerohedge.com/markets/trader-bets-80-million-fed-wrong-again-will-cut-below-42-year-end

Bank of England says recession expected to be shorter and less severe

Interest rates rise to 4% as the Bank says the slump will last just over a year rather than almost two.

Read more at: https://www.bbc.co.uk/news/business-64487179?at_medium=RSS&at_campaign=KARANGA

EDF suspends forced prepayment meter installations

The move comes after British Gas was heavily criticised for practices around installing prepayment meters.

Read more at: https://www.bbc.co.uk/news/business-64504609?at_medium=RSS&at_campaign=KARANGA

Strikes Update: How Friday 3 February’s strike will affect you

With train drivers in England on strike and teachers walking out in Scotland, what do you need to know?

Read more at: https://www.bbc.co.uk/news/business-64498563?at_medium=RSS&at_campaign=KARANGA

Titan Q3 Results: Net profit falls 4% YoY to Rs 951 cr, misses estimates

Sales during the quarter rose 11% to Rs 10,444 crore, compared with Rs 9,381 crore in the same quarter last year

Read more at: https://economictimes.indiatimes.com/markets/stocks/earnings/titan-q3-results-net-profit-falls-4-to-rs-951-cr-misses-estimates/articleshow/97549793.cms

Berger Paints Q3 Results: Net profit declines 21% YoY to Rs 201.17 cr; revenue rises 6%

The company’s EBITDA for the quarter was Rs 349.65 crore as against Rs 392.11 crore in the corresponding quarter of last year, representing a decline of 10.83%

Read more at: https://economictimes.indiatimes.com/markets/stocks/earnings/berger-paints-q3-results-net-profit-declines-21-yoy-to-rs-201-17-cr-revenue-rises-6/articleshow/97554088.cms

How Budget 2023 will impact these 14 Sensex stocks

These 14 Sensex stocks set to benefit from Budget 2023. >> For more such web stories click on the ET icon below

Read more at: https://economictimes.indiatimes.com/markets/web-stories/14-sensex-stocks-set-to-benefit-from-budget-2023-icici-direct/articleshow/97547936.cms

Help My Career: ‘We are not visible, but we are here’: This New York City-based female plumber wants to change sexist stereotypes — and attract more women to the trade

Plumbers are in short supply. New York-based plumber Judaline Cassidy is determined to bring more women into the industry.

Read more at: http://www.marketwatch.com/news/story.asp?guid=%7B20C06575-04D4-B545-718E-CA4F0D8C5A9E%7D&siteid=rss&rss=1

Market Snapshot: Nasdaq surges to a five-month high as Meta leads rally in tech sector

U.S. stocks surge to their highest level in five months Thursday, buoyed by upbeat results from Facebook parent Meta Platforms and the after-glow from Federal Reserve Chair Jerome Powell’s press conference.

Read more at: http://www.marketwatch.com/news/story.asp?guid=%7B20C06575-04D4-B545-718E-2046B594B702%7D&siteid=rss&rss=1

The Ratings Game: Align Tech stock surges 30% to lead S&P 500 as Invisalign sales return to growth

Align Technologies Inc. shares rallied Thursday, making one of the worst stocks of 2022 one of the best in 2023 so far.

Read more at: http://www.marketwatch.com/news/story.asp?guid=%7B20C06575-04D4-B545-718E-B9F8527C04A5%7D&siteid=rss&rss=1