06Jan2022 Market Close & Major Financial Headlines: Forty percent Of NASDAQ Companies Are Down More Than Half From Their Highs, Hedge Funds Are Selling Tech At The Fastest Pace In A Decade As Rates Spike

Wall Street was mostly stagnate, sideways choppy trading after the Wednesday selloff. Trading was curbing losses from yesterday as the central bank considers raising interest rates sooner than expected, spooking market investors. The three major indexes remained in the green until late in the session until more investor decided to jump a sinking ship. According to quants at Morgan Stanley, yesterday’s market rout was worse than every selloff in the past five years, including the March 2020 crash.

BTFDers bought the low after the market opened, but to no avail. The DOW closed down 171 points, the NASDAQ down 0.1%, and the S&P 500 slipped down 0.1%. WTI crude moved up moderately, settling at 79. Gold is down fractionally at 1789, with silver at 22.15.

Sundial Research notes that a near-record number of tech stocks have plunged by some 50%, a number that was surpassed only by the March 2021 crash and the global financial crisis.

Bitcoin and other cryptocurrencies slide as global stocks fall after hawkish Fed minutes. Bitcoin is at 43500, and Dogecoin is trading around $0.1610.

Despite persistent supply chain snags, the automobile sector comfortably outperformed the broader market over the past year. Luxury carmaker Bentley reports a second consecutive year of record sales of 14,659 vehicles last year, a 31% increase as other automakers struggle.

Short-Term Interest-Rates (STIRs) continued their hawkish push higher today after The Fed’s Jim Bullard noted that FOMC could start raising policy rates as soon as March, and shrinking the balance sheet will be the next policy step.

The Market in Perspective

Here are the headlines moving the markets.
	The Auto Industry Growth Stocks To Watch In 2022 Despite persistent supply chain snags, the automobile sector comfortably outperformed the broader market over the past year. Over the past 12 months, the S&P 1500 Composite Automobiles Index posted a 53.7% return compared to 23.4% by the iShares Russell 1000 Growth ETF and 26.1% by the S&P 500. A big reason for the outperformance can be chalked up to the EV revolution. Last week, the Department of Energy reported that 13 new U.S. electric vehicle battery plants are expected to be operational by 2025 in addition to Tesla Inc.’s (NASDAQ:TSLA) Read more at: https://oilprice.com/Energy/Energy-General/The-Auto-Industry-Growth-Stocks-To-Watch-In-2022.html
	Qatar To Boost Public Spending On The Back Of Higher Oil And Gas Revenues Qatar, one of the largest exporters of liquefied natural gas (LNG) in the world, is expected to boost public spending this year on the back of higher oil and gas revenues and a conservative assumption of 2022 oil prices in its budget, Oxford Economics says in a report cited by Gulf Times. Qatar, like other major energy exporters in the Middle East, is set to benefit from the higher oil and gas prices in 2022, Oxford Economics says. Qatar has adopted a budget for 2022 assuming an average oil price of $55 per barrel this year, well below the expectations Read more at: https://oilprice.com/Latest-Energy-News/World-News/Qatar-To-Boost-Public-Spending-On-The-Back-Of-Higher-Oil-And-Gas-Revenues.html
	Goldman Sachs: Commodity Supercycle Could Last A Decade Oil prices could reach $95 if Iran doesnt return to the market this year, while commodities overall are set for a supercycle that could potentially last a decade, according to Goldman Sachs, which is extremely bullish on the whole commodity complex. Currently, we are seeing record dislocations in energy markets, metals markets, and agriculture markets, Jeff Currie, global head of commodities research at Goldman Sachs, told Bloomberg Television in an interview on Thursday. There is still a lot of money in the system, while investment Read more at: https://oilprice.com/Energy/Crude-Oil/Goldman-Sachs-Commodity-Supercycle-Could-Last-A-Decade.html
	What’s Behind The Green Energy Hullaballoo In Europe? What exactly is green? Governments around the globe are now considering the importance of defining energy terminology in the transition to green in order to create clear effective strategies. However, controversy has been sparked over the inclusion of gas and nuclear power as part of the EUs green energy investments as environmentalists accuse the EU of greenwashing in its latest move, causing many states to rethink their idea of clean energy. While many world powers are striving to eventually achieve net-zero Read more at: https://oilprice.com/Energy/Energy-General/Whats-Behind-The-Green-Energy-Hullaballoo-In-Europe.html
	Libyan Oil Production Set For Partial Recovery Libyas crude oil production is set for a partial gradual recovery sooner than expected after urgent repairs on a pipeline were completed earlier than initially planned, Argus reported on Thursday, citing the National Oil Corporation (NOC). Overall output, however, continues to be much lower than before the middle of December due to blockades at western oilfields. Currently, the country is producing around 730,000 bpd, per the latest NOC guidance cited by Argus. Libyas oil production had slumped to 780,000 barrels per day (bpd) earlier Read more at: https://oilprice.com/Energy/Energy-General/Libyan-Oil-Production-Set-For-Partial-Recovery.html
	Rising LNG Demand From South Asia Worsens Global Gas Crisis Emerging economies in South and Southeast Asia are returning to the spot liquefied natural gas (LNG) market these days, despite the high prices of cargoes, creating additional gas demand globally amid a supply crunch that has seen European gas prices hit record highs in recent weeks. Bangladesh, Pakistan, and India are back to buying spot LNG cargoes, despite their sensitivity to high prices, traders told Bloomberg on Thursday. Those countries, and others in south Asia, are forced to buy expensive LNG to avoid blackouts and to keep industries operational. Read more at: https://oilprice.com/Latest-Energy-News/World-News/Rising-LNG-Demand-From-South-Asia-Worsens-Global-Gas-Crisis.html
	From Silverado EV to electric boats: What investors should know about GM’s CES announcements GM made headlines at CES with announcements of new EVs, progress on autonomous vehicles and thousands of orders for its BrightDrop EV commercial van. Read more at: https://www.cnbc.com/2022/01/06/from-silverado-ev-to-electric-boats-what-to-know-about-gms-ces-news.html
	Stocks making the biggest moves midday: Rivian, Allbirds, Humana, Lamb Weston and more Check out the stocks making notable moves on Thursday, Jan. 6. Read more at: https://www.cnbc.com/2022/01/06/stocks-making-the-biggest-moves-midday-rivian-allbirds-humana-and-more.html
	WHO says vaccine inequity undermines economic recovery: It’s ‘a killer of people and jobs’ World Health Organization chief Tedros Adhanom Ghebreyesus called the unequal distribution of vaccines the biggest failure of 2021. Read more at: https://www.cnbc.com/2022/01/06/who-says-vaccine-inequity-undermines-economic-recovery-its-a-killer-of-people-and-jobs.html
	Virgin Galactic stock falls below debut price two years after going public Shares of space tourism company Virgin Galactic fell below the level the stock debuted at more than two years ago. Read more at: https://www.cnbc.com/2022/01/06/virgin-galactic-stock-falls-below-spac-debut-price-two-years-later.html
	Former New York Mets acting GM Zack Scott found not guilty in DWI case that cost him his job Hours before his arrest, Zack Scott had been attending an Amazin’ Mets Foundation benefit at the home of Mets owner Steve Cohen, the former hedge fund operator. Read more at: https://www.cnbc.com/2022/01/06/former-new-york-mets-gm-zack-scott-not-guilty-in-dwi-case-that-cost-job.html
	Luxury carmaker Bentley reports a second consecutive year of record sales as other automakers struggle Bentley reported sales of 14,659 vehicles last year, a 31% increase over the company’s previous sales record of 11,206 cars and SUVs in 2020. Read more at: https://www.cnbc.com/2022/01/06/bentley-reports-a-second-consecutive-year-of-record-sales-in-2021.html
	Macy’s is closing more stores this year. Here’s a map of which ones are on the list Macy’s has released a list of the handful of department store locations that it plans to close this year. Read more at: https://www.cnbc.com/2022/01/06/macys-store-closures-a-map-of-where-the-stores-are.html


	Coca-Cola and Constellation Brands team up to create alcoholic Fresca cocktails Coca-Cola and Constellation Brands are teaming up to create spirits-based cocktails under the Fresca soda brand. Read more at: https://www.cnbc.com/2022/01/06/coca-cola-and-constellation-brands-team-up-to-create-alcoholic-fresca-cocktails.html
	Taco Bell launches taco-a-day subscription program nationwide to drive visits The pass costs around $10 a month, depending on the location. Read more at: https://www.cnbc.com/2022/01/06/taco-bell-launches-taco-a-day-subscription-program-nationwide-to-drive-visits.html
	1 in 3 Americans overspent during the holidays, boosting credit card balances Despite ongoing supply chain problems, inflation and the omicron Covid variant, the holidays in 2021 set records for spending. Read more at: https://www.cnbc.com/2022/01/06/americans-overspent-during-the-holidays-increasing-credit-card-debt.html
	Bed Bath & Beyond’s supply chain issues hammered results. Its stock is up anyway Bed Bath & Beyond CEO Mark Tritton said a lack of inventory due to supply chain bottlenecks cost the retailer about $100 million. Read more at: https://www.cnbc.com/2022/01/06/bed-bath-beyond-bbby-q3-2021-earnings.html
	US Stocks Erase All 2022 Gains As Fed Rate-Hike Expectations Soar US Stocks Erase All 2022 Gains As Fed Rate-Hike Expectations SoarShort-Term Interest-Rates (STIRs) continued their hawkish push higher today after The Fed’s Jim Bullard noted that FOMC could start raising policy rates as soon as March and shrinking the balance sheet will be the next policy step… The market is now pricing in an 86% chance of a March rate-hike and fully pricing in 3.5 rate-hikes by the end of 2022… Source: Bloomberg And as STIRs have ripped, so US Mortgage rates surged to their highest since May 2020… Read more at: https://www.zerohedge.com/markets/crypto-carnage-continues-mortgage-rates-soar-dow-gives-2022-gains
	“Massive Meltdown”: 40% Of Nasdaq Companies Are Down More Than Half From Their Highs “Massive Meltdown”: 40% Of Nasdaq Companies Are Down More Than Half From Their HighsIn a testament to the narrow breadth of the Nasdaq, and the broader market in general, where as a reminder 51% of all market gains from April through December were just from the five most popular tech names – AAPL, MSFT, NVDA, TSLA, GOOGL – Sundial Research notes that a near-record number of tech stocks have plunged by some 50%, a number that was only surpassed by the March 2021 crash and the global financial crisis. Roughly four in every 10 companies on the Nasdaq Composite have seen their market values cut by 50% or more from their 52-week highs, while a vast majority of index constituents are mired in bear markets, according to Jason Goepfert, chief research officer at Sundial. “Whatever the fundamental and macro considerations, there is no doubt that investors have been selling first and trying to figure out the rest later,” Goepfert said in a note and first noted by Bloomberg. Read more at: https://www.zerohedge.com/markets/massive-meltdown-40-nasdaq-companies-are-down-more-half-their-highs
	Royal Caribbean Shares Fall After Hindenburg Research Discloses Short Position Royal Caribbean Shares Fall After Hindenburg Research Discloses Short PositionShares of Royal Caribbean are under pressure after noted short-seller Hindenburg Research announced in a series of Tweets that it was shorting the cruise line. In a series of tweets, Hindenburg said that RCL was one of the most dislocated “re-opening” stocks on the market today and said that the outlook for the cruise industry “is far more grim than other hospitality and leisure” industries. Hindenburg pointed out the company’s ballooning liabilities and share count, saying the company’s current debt would be “extremely difficult to service, almost necessitating extensive dilution of existing shareholders”. The firm also pointed to increased fuel costs, vaccination mandates and the CDC’s Conditional Sailing Order as headwinds. We are short $RCL, which we believe to be one of the most dislocated “re-opening” stocks on the market today. The outlook for $RCL and the cruise industry is far more grim than other hospitality and leisure “post-Covid” stories. — Hindenburg Research (@HindenburgRes) January 6, 2022 As far as low hanging fruit for short sellers as part of the post-Covid re-open trade, Royal Caribbean may be at the top of the … Read more at: https://www.zerohedge.com/markets/royal-caribbean-shares-fall-after-hindenburg-research-says-theyre-short
	Here’s The One Thing Traders Want To Know After Biggest “Rate Shock” Selloff Since 2016 Here’s The One Thing Traders Want To Know After Biggest “Rate Shock” Selloff Since 2016Just how bad was yesterday’s market rout? According to quants at Morgan Stanley, it was worse than every selloff in the past 5 years, including the March 2020 crash. As Morgan Stanley’s QDS team notes, flows were aggressively for sale post 2pm when the FOMC Minutes hit, with signs of selling from both institutions and retail: as shown in the chart below, S&P 500 futures Trade Pressure hit negative $13 billion, the most for sale since at least 2016… … and QDS also estimates retail supply post 2pm was the 4th largest for that time frame in the last two years, with most of the retail selling in Tech, where daily supply was the biggest of the last year, perpetuating the painful rotations even as the stress spilled into the S&P 500. Read more at: https://www.zerohedge.com/markets/one-question-traders-want-answered-after-biggest-rate-shock-selloff-2016-rout-finally-over
	Investors threaten drug maker bonuses over vaccine access Some investment firms want bonuses withheld for bosses of coronavirus vaccine firms if distribution isn’t fairer. Read more at: https://www.bbc.co.uk/news/business-59902078?at_medium=RSS&at_campaign=KARANGA
	Tax self-assessment: HMRC waives fines again for late filings Fines will not be enforced for a month after the normal deadline for a second year owing to Covid. Read more at: https://www.bbc.co.uk/news/business-59899495?at_medium=RSS&at_campaign=KARANGA
	Next and Greggs raise prices as costs spiral Both the fashion retailer and bakery chain say they are facing higher wage and manufacturing costs. Read more at: https://www.bbc.co.uk/news/business-59892262?at_medium=RSS&at_campaign=KARANGA
	BTC vs ETH: Bitcoin losing crypto cart grip, will Ethereum top the table? The crypto behemoth seems to be losing its grip in the entire crypto market capitalisation as its dominance slipped below 40 per cent Read more at: https://economictimes.indiatimes.com/markets/cryptocurrency/btc-vs-eth-bitcoin-losing-crypto-cart-grip-will-ethereum-top-the-table/articleshow/88729809.cms
	Tech View: Nifty50 forms Doji candle; buying visible at lows, say analysts The index has negated its formation of higher high-low after four sessions, said Chandan Taparia of Motilal Oswal Securities, who believes the index has to hold above 17,777 for an up move towards 18,000. Taparia sees support for the index at 17,600. Read more at: https://economictimes.indiatimes.com/markets/stocks/news/tech-view-nifty50-forms-doji-candle-buying-visible-at-lows-say-analysts/articleshow/88734305.cms
	Will much-tracked ITC deliver in Q3? Here’s what analysts say A median of 34 analyst targets suggest an upside potential of 25 per cent in ITC stock. Retail investors held just over 12 per cent stake in the cigarette maker as of September 30. Read more at: https://economictimes.indiatimes.com/markets/stocks/news/will-much-tracked-itc-deliver-in-q3-heres-what-analysts-say/articleshow/88727750.cms
	The Moneyist: ‘I was devastated to find out my husband led a double life’: He secretly stored $50K in bank and bitcoin accounts with his girlfriend. Can I claim this money? ‘He was working on this woman’s house when ours was falling apart.’ Read more at: http://www.marketwatch.com/news/story.asp?guid=%7B20C05575-04D4-B545-780B-02A7269ECA88%7D&siteid=rss&rss=1
	Bond Report: 2-year Treasury yield hits an almost 2-year high as Fed’s Bullard says first rate hike could come as soon as March On Thursday, most Treasury yields extended a rise that followed the release of minutes from the Federal Reserve’s December meeting. Read more at: http://www.marketwatch.com/news/story.asp?guid=%7B20C05575-04D4-B545-783E-03645FFAF311%7D&siteid=rss&rss=1
	: The ‘best job in America’ pays up to $125,000 a year — and has 10,000 job openings This analysis is based on median salary, overall job satisfaction and the number of job openings. Read more at: http://www.marketwatch.com/news/story.asp?guid=%7B20C05575-04D4-B545-7839-2C9317000C06%7D&siteid=rss&rss=1

06Jan2022 Market Close & Major Financial Headlines: Forty percent Of NASDAQ Companies Are Down More Than Half From Their Highs, Hedge Funds Are Selling Tech At The Fastest Pace In A Decade As Rates Spike

The Market in Perspective

The Auto Industry Growth Stocks To Watch In 2022

Qatar To Boost Public Spending On The Back Of Higher Oil And Gas Revenues

Goldman Sachs: Commodity Supercycle Could Last A Decade

What’s Behind The Green Energy Hullaballoo In Europe?

Libyan Oil Production Set For Partial Recovery

Rising LNG Demand From South Asia Worsens Global Gas Crisis

From Silverado EV to electric boats: What investors should know about GM’s CES announcements

Stocks making the biggest moves midday: Rivian, Allbirds, Humana, Lamb Weston and more

WHO says vaccine inequity undermines economic recovery: It’s ‘a killer of people and jobs’

Virgin Galactic stock falls below debut price two years after going public

Former New York Mets acting GM Zack Scott found not guilty in DWI case that cost him his job

Luxury carmaker Bentley reports a second consecutive year of record sales as other automakers struggle

Macy’s is closing more stores this year. Here’s a map of which ones are on the list

Coca-Cola and Constellation Brands team up to create alcoholic Fresca cocktails

Taco Bell launches taco-a-day subscription program nationwide to drive visits

1 in 3 Americans overspent during the holidays, boosting credit card balances

Bed Bath & Beyond’s supply chain issues hammered results. Its stock is up anyway

US Stocks Erase All 2022 Gains As Fed Rate-Hike Expectations Soar

“Massive Meltdown”: 40% Of Nasdaq Companies Are Down More Than Half From Their Highs

Royal Caribbean Shares Fall After Hindenburg Research Discloses Short Position

Here’s The One Thing Traders Want To Know After Biggest “Rate Shock” Selloff Since 2016

Investors threaten drug maker bonuses over vaccine access

Tax self-assessment: HMRC waives fines again for late filings

Next and Greggs raise prices as costs spiral

BTC vs ETH: Bitcoin losing crypto cart grip, will Ethereum top the table?

Tech View: Nifty50 forms Doji candle; buying visible at lows, say analysts

Will much-tracked ITC deliver in Q3? Here’s what analysts say

The Moneyist: ‘I was devastated to find out my husband led a double life’: He secretly stored $50K in bank and bitcoin accounts with his girlfriend. Can I claim this money?

Bond Report: 2-year Treasury yield hits an almost 2-year high as Fed’s Bullard says first rate hike could come as soon as March

: The ‘best job in America’ pays up to $125,000 a year — and has 10,000 job openings

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