31Dec2021 Market Close & Major Financial Headlines: Best Wishes For A Great And Profitable 2022!

Soaring Natural Gas Prices Are Weighing On Global Aluminum Production

As our colleague Fouad Egbaria noted this week, rising power costs in Europe, almost wholly down to the cost of natural gas, resulted in reduced output at Europes largest aluminum smelter, Aluminium Dunkerque Industries France. Losses there ballooned to 20 million ($22 million) during November, as natural gas prices quadrupled this year. Most aluminum smelters operate on long-term power contracts. However, spot prices do impact costs for many mills, either with contracts linked to spot prices or when contracts come up for periodic

Read more at: https://oilprice.com/Metals/Gold/Soaring-Natural-Gas-Prices-Are-Weighing-On-Global-Aluminum-Production.html

Rig Count Remains Unchanged During Last Week Of 2021

The number of active drilling rigs in the United States remained unchanged this week, keeping the total rig count at 586, as oil prices remain relatively strong despite the fresh wave of Covid-19 cases brought by the new variant of the coronavirus. Last weeks countcomparedwith a rig count rise of 7 for the previous week, which brought the total to 586. Baker Hughes reported the total active rig figure was 235 rigs higher than the rig count this time last year when the oil industry was just beginning to recover from the worst

Read more at: https://oilprice.com/Energy/Energy-General/Rig-Count-Remains-Unchanged-During-Last-Week-Of-2021.html

U.S. Loans SPR Crude To ExxonMobil

The U.S. Department of Energy approved on Thursday a third exchange of two million barrels of crude oil for release to ExxonMobil from the Strategic Petroleum Reserve (SPR) as part of the Biden Administrations efforts to boost fuel availability and lower gasoline prices. So far, the U.S. DOE, as authorized by President Joe Biden, has provided more than seven million barrels of SPR crude oil to companies, including the two previous exchanges awarded earlier in December. As with all exchanges, companies that receive SPR crude

Read more at: https://oilprice.com/Energy/Energy-General/US-Loans-SPR-Crude-To-ExxonMobil.html

Guyana Votes To Set Up Oil Wealth Fund

The Parliament of Guyana, where more than 10 billion barrels of oil equivalents have been discovered over the past half-decade, voted this week to amend its Natural Resource Fund (NRF) Act that will govern a sovereign wealth fund managing the proceeds from oil. The Parliament also passed the so-called local content bill requiring foreign companies to ensure they use Guyanese individuals and companies for everything from catering services to accounting by the end of next year. The sovereign wealth fund currently stands at US$534 million, Guyana

Read more at: https://oilprice.com/Latest-Energy-News/World-News/Guyana-Votes-To-Set-Up-Oil-Wealth-Fund.html

OPEC+ Set To Stay The Course On Oil Supply Policy

The OPEC+ group will likely proceed with its oil production policy of the past few months by deciding next week to add another 400,000 barrels per day (bpd) to its collective output quota, OPEC+ and Russian sources told Reuters this week. OPEC and its Russia-led non-OPEC partners in the OPEC+ alliance are meeting on January 4 for their regular monthly meeting to decide how to proceed with unwinding the production cuts for the following month. So far, all indications point to OPEC+ sticking to its policy to continue unwinding the oil production

Read more at: https://oilprice.com/Energy/Energy-General/OPEC-Set-To-Stay-The-Course-On-Oil-Supply-Policy.html

2022 Could Be A Great Year For OPEC+ Producers

OPEC+ did some surprising things in the past two years. First, it broke up at the start of the pandemic with its two leadersSaudi Arabia and Russiaturning on each other because of differences of opinion on how the crisis needed to be handled. Then the two made up, and the group united around the deepest production cuts in the history of OPEC in response to the demand destruction caused by the pandemic, also unprecedented. All in all, 2020 was a year of unprecedented events. But this year was not that much different. It was a challenging

Read more at: https://oilprice.com/Energy/Crude-Oil/2022-Could-Be-A-Great-Year-For-OPEC-Producers.html

United Airlines offers pilots triple pay to ease omicron flight disruptions

United is among the airlines offering pilots and flight attendants extra pay as omicron drives up crew sick calls.

Read more at: https://www.cnbc.com/2021/12/31/united-airlines-offers-pilots-triple-pay-to-ease-omicron-flight-disruptions.html

Omicron hospitalization risk lower than delta, vaccines provide good protection, U.K. study says

The U.K. Health Security Agency found the risk of hospitalization for people infected with omicron is about a third the risk posed by the delta variant.

Read more at: https://www.cnbc.com/2021/12/31/omicron-hospitalization-risk-upside-vaccine-protection-good-uk-study-.html

Sweetgreen stock poised to go higher after its mixed IPO in late 2021

Sweetgreen made its initial public offering late in 2021, but the new year may be even more exciting for the restaurant chain.

Read more at: https://www.cnbc.com/2021/12/31/sweetgreen-stock-is-one-to-watch-in-2022-after-this-years-ipo.html

Stocks making the biggest moves midday: Pfizer, Peloton, Carnival and more

These are the stocks posting the largest moves in midday trading.

Read more at: https://www.cnbc.com/2021/12/31/stocks-making-the-biggest-moves-midday-pfizer-peloton-carnival-and-more.html

Travel in the omicron surge: What airlines owe you if they cancel your flight

Airlines have canceled more than 10,000 flights over the year-end holidays after the omicron variant sidelined crews.

Read more at: https://www.cnbc.com/2021/12/31/omicron-travel-airline-cancellation-refunds.html

Here’s where Americans want to travel abroad — and where they’re losing interest

Americans have never stopped dreaming about vacations abroad. Travel site ParkSleepFly analyzed Google search data to track where we’d like to go.

Read more at: https://www.cnbc.com/2021/12/31/where-americans-want-to-travel-abroad-and-where-theyve-lost-interest.html

From SPACs to chips: Five ways 2021 may have forever changed the auto industry

The automotive industry may never be the same after 2021, an infamous year that brought massive changes sparked by supply chain issues and the coronavirus.

Read more at: https://www.cnbc.com/2021/12/31/five-ways-2021-may-have-forever-changed-the-auto-industry.html

Stocks making the biggest moves premarket: Exxon Mobil, Pfizer, Peloton and others

These are the stocks posting the largest moves before the bell.

Read more at: https://www.cnbc.com/2021/12/31/stocks-making-the-biggest-moves-premarket-exxon-mobil-pfizer-peloton-and-others.html

Bank accidentally deposits $176 million into people’s accounts on Christmas Day

Thousands of people got a surprise present on Christmas Day this year when a bank accidentally deposited £130 million across 75,000 transactions.

Read more at: https://www.cnbc.com/2021/12/31/santander-accidentally-put-millions-into-random-accounts-on-christmas-day.html

China’s big challenge for 2022: Getting people to spend money

Sluggish consumer spending has dragged down China’s economy since the pandemic, with little relief in sight for the year ahead.

Read more at: https://www.cnbc.com/2021/12/31/chinas-big-challenge-for-2022-getting-people-to-spend-money.html

Powerball’s top prize jumps to $500 million for the first drawing of 2022. This year, winners landed jackpots totaling $2 billion

Powerball’s last drawing of 2021 was Wednesday night, capping a year that had six winning jackpots worth an aggregate $2 billion.

Read more at: https://www.cnbc.com/2021/12/30/powerball-top-prize-is-483-million-this-year-2-billion-was-won.html

U.S. CDC says people should ‘avoid cruise travel, regardless of vaccination status’

The CDC is currently investigating or observing dozens of cruise ships that have had Covid outbreaks.

Read more at: https://www.cnbc.com/2021/12/30/us-cdc-says-people-should-avoid-cruise-travel-regardless-of-vaccination-status.html

Here’s what the exec who boosted ESPN and launched NFL RedZone sees next in sports TV

Former ESPN and NFL executive Steve Bornstein discusses the future of sports television in an end-of-the-year interview with CNBC’s Jabari Young.

Read more at: https://www.cnbc.com/2021/12/30/exec-who-grew-espn-and-launched-nfl-redzone-chats-future-of-sports-tv.html

Cryptos & Crude Soar As Stocks End 2021 At Most Expensive Level Ever

Cryptos & Crude Soar As Stocks End 2021 At Most Expensive Level EverBiden ‘outperformed’ Trump in terms of the number of Americans who died from/with COVID under his watch…

Source: Bloomberg

Despite more deaths, more cases, and a lack of the big stimmy BBB deal, all the major US equity indices were upon the year with Trannies leading the way (and Small Caps lagging, but still up over 14%)…

Source: Bloomberg

For some recent …

Read more at: https://www.zerohedge.com/markets/cryptos-crude-soar-stocks-end-2021-most-expensive-level-ever

Is The Peak Of NYC’s Omicron Wave Just Around The Corner?

Is The Peak Of NYC’s Omicron Wave Just Around The Corner?As we noted earlier, the US and worldwide tallies for the number of new COVID cases confirmed in a day are hitting fresh record highs as the year ends, giving some the impression that the global pandemic has barely been impacted by all the lockdowns, vaccines, boosters and other restrictions that have arisen over the past 2 years.

But as political leaders scramble to keep the media stocked with omicron-oriented FUD to report, it looks like we may have been correct a little over a week ago when we surmised that the peak of the outbreak in London may already be at hand.

In the US, there’s been a lot of focus on New York City, where COVID cases and hospitalizations are climbing, though still below their levels from last year’s winter wave.

Read more at: https://www.zerohedge.com/covid-19/has-peak-nycs-omicron-wave-finally-arrived

COVID-19 Explained In 10 Sentences

COVID-19 Explained In 10 SentencesAuthored by C.J.Baker via AmericanThinker.com,

As we approach the end of annus horribilis 2 (also known as 2021 A.D.), it seems worthwhile to to look back and summarize the events that have brought us where we are in the COVID-19 saga.

Here, in ten sentences, is how we got here.

Since at least 2014, the U.S. National Institutes of Health (NIH), through Anthony Fauci’s NIAID division, have sent millions of U.S. tax dollars to communist China to fund research involving the genetic alteration of coronaviruses at the Wuhan Institute of Virology.

Around October 2019, the COVID-19 pandemic began when a new coronavirus leaked out of the same Wuhan Institute of Virology and into the human population.

The Communist Chinese Party imposed a tight lockdown of its own population, while simultaneously allowing international travel to and from China, facilitating the virus’s worldw …

Read more at: https://www.zerohedge.com/covid-19/covid-19-explained-10-sentences

Goldman’s Top Charts For 2021

Goldman’s Top Charts For 2021In his final Global Economics Analyst report of 2021, Goldman’s chief economist Jan Hatzius has published his favorite 10 charts to illustrate the key global themes that stood out this year and are likely to shape 2022.

In his brief previews, Hatzius writes that “the global economy recovered rapidly in 2021 as demand surged. Mass vaccinations and adaptation made growth less sensitive to infections although risk aversion to the virus remained high in Asia-Pacific for much of the year.Fiscal policy turned from a large boost in the spring into a modest drag in the US. However, policy remains more expansionary in the Euro Area.”

Of course, 2021 was a year when Goldman’s inflation forecasts – like those of most other career economists and Fed officials – were catastrophically wrong and the bank was forced to hike its year-end CPI and PCE forecast virtually every month as inflation went from “transitory” to not. That’s why in his final note the chief economist writes that “following this very rapid rebound in demand, our short-run output gaps tightened into overheating territory in the UK and, to a lesser degree, in the EuroArea, and the US.”

Not surprisingly, the Goldman economist admits that “the biggest surprise of the year was the global inflation surge, which was particularly pronounced for US goods, global energy, and Latin America.” Meanwhile, persistent labor shortages boosted wage growth in the US and the UK,which remained softer in the Euro Area.

As a result, Hatzius concludes, “G10 central banks tapered or …

Read more at: https://www.zerohedge.com/markets/goldmans-top-charts-2021

Nationwide customers hit by payment glitch

Customers were left questioning why their wages had failed to appear in their account on Friday.

Read more at: https://www.bbc.co.uk/news/business-59839469?at_medium=RSS&at_campaign=KARANGA

Covid: Cathay Pacific flights cut after Hong Kong clampdown

The announcement comes after the city tightened its coronavirus quarantine regulations for aircrew.

Read more at: https://www.bbc.co.uk/news/business-59824408?at_medium=RSS&at_campaign=KARANGA

Santander: Bank hands out £130m in Christmas blunder

The error meant around 75,000 people woke up on Christmas morning to a surprise payment from Santander.

Read more at: https://www.bbc.co.uk/news/business-59826345?at_medium=RSS&at_campaign=KARANGA

Here’s what first week of New Year has in store for D-Street

Nifty50 is pegged to hit the 20,000 mark for the first time in history

Read more at: https://economictimes.indiatimes.com/markets/stocks/news/heres-what-first-week-of-new-year-has-in-store-for-d-street/articleshow/88618792.cms

Auto sales preview: Demand muted across segments in Dec

High vehicle prices and impending launches of several electric models are likely to have affected demand

Read more at: https://economictimes.indiatimes.com/markets/stocks/news/auto-sales-preview-demand-muted-across-segments-in-dec/articleshow/88613466.cms

Market Movers: What fired gains in Voda Idea, Jhunjhunwala-backed Titan

Vodafone Idea closed over 9 per cent higher as investors look forward to a revival in the company’s earnings in 2022; Titan jumped over 3 per cent

Read more at: https://economictimes.indiatimes.com/markets/stocks/news/market-movers-what-fired-gains-in-vodafone-idea-jhunjhunwala-backed-titan/articleshow/88614366.cms

Futures Movers: U.S. oil snaps 7-session streak of gains but logs best yearly rise since 2009

U.S. oil futures Friday settle lower on the eve of 2022, marking the first decline in the past eight sessions, but the loss belies a big year for crude bulls.

Read more at: http://www.marketwatch.com/news/story.asp?guid=%7B20C05575-04D4-B545-782A-C790441356B6%7D&siteid=rss&rss=1

CES cut one day short due to health protocols

The nation’s biggest tech conference was originally scheduled to run Jan. 5-8 in Las Vegas, but will now close on Friday, Jan. 7, amid an avalanche of criticism of it taking place at all.

Read more at: http://www.marketwatch.com/news/story.asp?guid=%7B20C05575-04D4-B545-782C-C1CE67E42EB8%7D&siteid=rss&rss=1

The Margin: Betty White dies at 99: Ryan Reynolds, Steve Martin thank her for being a friend

Legendary actor Betty White has died about two weeks from her 100th birthday. Entertainers and fans paid tribute on Twitter on New Year’s Eve.

Read more at: http://www.marketwatch.com/news/story.asp?guid=%7B20C05575-04D4-B545-782C-AD4781CD19DD%7D&siteid=rss&rss=1