17Jan2022 Market Close & Major Financial Headlines: U.S. Markets Closed Today For Martin Luther King Jr. Day

Trans Mountain Pipeline Back To Normal Operations After Two-Month Disruption

The Trans Mountain oil pipeline returned to normal operating pressure during the weekend, following a month and a half of operations at reduced capacity after the infrastructure was shut for 21 days as a precaution during rainstorms in British Columbia in mid-November. Trans Mountain Pipeline, the only operating system carrying crude oil to Canadas West Coast, is back to operations at normal pressures, the operator said this weekend. Trans Mountain was shut down as a precaution during the heavy rains and flooding in British Columbia and

Read more at: https://oilprice.com/Latest-Energy-News/World-News/Trans-Mountain-Pipeline-Back-To-Normal-Operations-After-Two-Month-Disruption.html

Is The TAPI Pipeline Finally Ready To Go?

The TurkmenistanAfghanistanPakistanIndia (TAPI) natural gas pipeline has been long aborning, but its prospects recently got a shot in the arm. The 1100-mile, $10 billion project has seen numerous delays since the pipeline consortium was announced in late 2014, though the project was first mooted in 1991. Construction started in early 2018 with a projected in-service date of 2021, but halted later that year after workers clearing the route were killed by unknown assailants. Also, the projects $10 billion cost estimate

Read more at: https://oilprice.com/Geopolitics/Middle-East/Is-The-TAPI-Pipeline-Finally-Ready-To-Go.html

High U.S. Gasoline Prices Set To Dent Demand

American consumers will drive less this year and will look to make fewer shopping trips due to the high gasoline prices and high inflation rates, Target Corporations chief executive Brian Cornell said this weekend. Some of the historical ways consumers react to inflation will play out again in 2022, Cornell said during the National Retail Federations Big Show in New York on Sunday, as carried by Bloomberg. Youll drive fewer miles, youll consolidate the number of times and locations where you shop,

Read more at: https://oilprice.com/Energy/Energy-General/High-US-Gasoline-Prices-Set-To-Dent-Demand.html

UK Power Prices Rise To One Month-High On Low Wind Generation

UK peak-hour power prices for Monday evening through 6 p.m. surged to the highest level in a month due to low wind power generation during the weekend. The contract for the 5-6 p.m. slot electricity price in the UK on Monday surged above the 1,000-pounds per megawatt-hour threshold to stand at US$1,585 (1,161 pounds) per MWh, according to data from the N2EX exchange cited by Bloomberg. Thats the highest price since December 16. Most of the jump in power prices was due to very low wind power generation in the UK from Friday through Monday.

Read more at: https://oilprice.com/Latest-Energy-News/World-News/UK-Power-Prices-Fall-To-One-Month-High-On-Low-Wind-Generation.html

Kazakhstan Calls For Higher Taxes On Miners

Human and political rights activists have been suffering escalating repression in the former Soviet state of Kazakhstan. The result has been widespread rioting and the reported death of over a hundred protestors this month. The protests kicked off with rises in liquefied petroleum gas (LPG) prices but stem from extreme inequality and corruption in the Central Asian nation. There seems to be a state of calm after Russian forces entered the capital under the auspices of the Collective Security Treaty Organization bloc, consisting of some 2,000 troops

Read more at: https://oilprice.com/Metals/Commodities/Kazakhstan-Calls-For-Higher-Taxes-On-Miners.html

Scotland Doubles Down On Renewable Ambitions With 700 Million Wind Auction

ScotWind has raised 700m from an auction of seabed plots for a series of offshore wind projects, boosting the countrys net-zero ambitions. Seventeen projects have been selected from 74 applications, with options fees being passed to Holyrood for public spending. The area of seabed covers 7,000km squared and was made available through the Scottish Governments Sectoral Marine Plan. The auction was the first Scottish offshore wind leasing round in over a decade and first since the management of offshore wind rights was devolved

Read more at: https://oilprice.com/Latest-Energy-News/World-News/Scotland-Doubles-Down-On-Renewable-Ambitions-With-700-Million-Wind-Auction.html

Omicron surge shows signs of easing in states hit early by the fast-spreading variant

To be sure, cases are rising in the majority of states with 23 reporting record-high infection levels as of Sunday.

Read more at: https://www.cnbc.com/2022/01/17/omicron-wave-shows-early-signs-of-easing-in-states-hit-early.html

Ralph Lauren CEO says metaverse is way to tap into younger generation of shoppers

Ralph Lauren CEO Patrice Louvet said participating in the virtual world extends the brand’s reach and creates new money-making opportunities.

Read more at: https://www.cnbc.com/2022/01/17/ralph-lauren-ceo-says-metaverse-is-way-to-tap-into-younger-shoppers.html

Fauci says it’s still an ‘open question’ whether omicron spells Covid endgame

Dr. Anthony Fauci has said it is still too soon to predict whether omicron will mark the final wave of the coronavirus pandemic.

Read more at: https://www.cnbc.com/2022/01/17/fauci-its-an-open-question-whether-omicron-spells-covid-endgame.html

Peloton is about to tack on hundreds of dollars in fees to its Bike and treadmill, citing inflation

Peloton is about to begin effectively charging customers more for its original Bike and Tread products, citing inflation and heightened supply chain costs.

Read more at: https://www.cnbc.com/2022/01/17/peloton-is-about-to-tack-on-hundreds-of-dollars-in-fees-to-its-bike-and-treadmill-citing-inflation.html

Walmart is quietly preparing to enter the metaverse

Walmart appears to be venturing into the metaverse with plans to create its own cryptocurrency and collection of NFTs.

Read more at: https://www.cnbc.com/2022/01/16/walmart-is-quietly-preparing-to-enter-the-metaverse.html

‘Obscene inequality’: Oxfam says taxing the world’s richest could help save lives

The wealth of the world’s ten richest men doubled from $700 billion to $1.5 trillion during the pandemic, the global charity said in a press release on Monday.

Read more at: https://www.cnbc.com/2022/01/17/oxfam-on-covid-inequality-tax-rich-to-pay-for-vaccines-protect-climate.html

Here’s what it’s like watching an NBA game courtside — in the metaverse

CNBC sports business reporter Jabari Young experienced the Jan. 10 NBA courtside game between the Celtics and Pacers on the Oculus 2 headset.

Read more at: https://www.cnbc.com/2022/01/15/nba-games-in-virtual-reality-have-potential-heres-what-watching-one-is-like.html

A Thai start-up is working on a Covid vaccine — using tobacco leaves

Thai start-up Baiya Phytopharm is working on a Covid-19 vaccine — using the leaves of an Australian tobacco plant.

Read more at: https://www.cnbc.com/2022/01/17/thailands-baiya-phytopharm-working-on-plant-based-covid-vaccine.html

China’s zero-Covid policy could deal another blow to global supply chains, Moody’s says

The challenges has been “with us for about a year now,” said Katrina Ell is a senior economist for Asia-Pacific at Moody’s Analytics.

Read more at: https://www.cnbc.com/2022/01/17/moodys-chinas-zero-covid-policy-prolongs-supply-chain-disruptions-.html

How the U.S. fell behind in lithium, the ‘white gold’ of electric vehicles

The U.S. used to be a global leader in lithium production, but now has fallen way behind. Several domestic projects are in the works, but will it be enough?

Read more at: https://www.cnbc.com/2022/01/15/how-the-us-fell-way-behind-in-lithium-white-gold-for-evs.html

A new labor battle opens on Broadway as omicron closes theater shows

Broadway producer Keven McCollum closed ‘Mrs. Doubtfire’ with a plan to return in the spring, he says, to save the show, but theater unions are skeptical.

Read more at: https://www.cnbc.com/2022/01/14/a-new-labor-battle-opens-on-broadway-as-omicron-closes-shows.html

Robo-advisors are growing in popularity. Can they really replace a human financial advisor?

Robo-advisors, which use algorithms to help put investing on auto pilot, are growing more popular. But are they right for everyone?

Read more at: https://www.cnbc.com/2022/01/16/robo-advisors-are-gaining-popularity-can-they-replace-a-human-advisor.html

Freedom Is The Answer

Freedom Is The AnswerAuthored by Jeffrey Tucker via DailyReckoning.com,

I’m now looking again at the polls of Biden’s popularity. They are shocking, even devastating.

We are looking at nearly a 12-point split between approval and disapproval. I’m assuming that the reality is much worse, given that everyone knows what one is supposed to tell the pollsters. They are not looking for disapproval. They are looking for compliance. That so many are willing just to say what they think is striking.

To me, these numbers represent far more than the unpopularity of one guy. They are but a sign — a slight one but one we can see — of something far more fundamental going on.

What we see here is a deeply dangerous loss of trust not only in government, but in everything, including tech, media, experts in general, and a growing cultural perception that truth is no longer accessible to us.

We are living amidst the risin …

Read more at: https://www.zerohedge.com/geopolitical/freedom-answer

Beijing Bars Spectators From Winter Games As First Omicron Case Confirmed

Beijing Bars Spectators From Winter Games As First Omicron Case ConfirmedIt’s looking increasingly likely that China’s Winter 2020 Olympics will take place in front of mostly crowd-less stadiums, just like last summer’s Tokyo Games. Chinese media reported over the weekend that China has halted ticket sales for the Beijing Games. Instead of selling tickets to the public, groups of chosen spectators, most likely CCP elites, will be allowed to attend certain events.

The decision comes after the Chinese capital reported the first confirmed case of the omicron variant over the weekend. The organizers of the Games released a statement confirming the decision.

On Sep.30 2021,the pandemic prevention and control policy principles for the Beijing 2022 Games were released .One of the principles was that no tickets would be sold to spectators from outside China’s mainland. Tickets would be sold exclusively to spectators residing in China’s mainland who meet the requirements of COVID-19 countermeasures.

Given the current grave …

Read more at: https://www.zerohedge.com/covid-19/beijing-bars-spectators-winter-games-first-omicron-case-confirmed

125 Billion Reasons For A Volatility Spike After Friday’s “Deep” Options Expiration

125 Billion Reasons For A Volatility Spike After Friday’s “Deep” Options ExpirationSubmitted by SpotGamma, access to a full list of stocks with estimated impact is available at the end of this note

The Event: This Friday, January 21st, deep in the money calls worth billions of dollars are set to expire. Deep in the money calls are unique, because they are valued as being essentially equivalent to shares of stock (referred to as a Delta 1 position). Most of these calls were purchased in 2021 and have participated in the massive stock rally over the last year (S&P500 +24% since 1/1/21).

The Participants: We think these calls are held by a wide variety of players, from large hedge funds all way to wealthy individuals. For example, its well known that Nancy Pelosi favors purchasing long-dated call options. By purchasing large, long-dated call positions, investors gain levered exposure to higher stock prices, while limiting downside risk. Meaning, they can pay a premium to buy more upside through long-dated calls then they can get by buying shares of a company’s stock using the same amount of investment capital.

The Potential Impact: Regardless of these investor’s individual strategies, at SpotGamma, our models indicate that the net options delta set to expire on Friday, January 21st is over $125 billion.  Our base case is that the expiration of these deep in the money calls are a catalyst for volatility – th …

Read more at: https://www.zerohedge.com/markets/125-billion-reasons-volatility-spike-during-fridays-deep-options-expiration

Ghislaine Maxwell Will No Longer Fight To Keep Epstein ‘John Does’ Secret; Suspected Of ‘Intimate Relationship’ With Prince Andrew

Ghislaine Maxwell Will No Longer Fight To Keep Epstein ‘John Does’ Secret; Suspected Of ‘Intimate Relationship’ With Prince AndrewConvicted sex offender and UK socialite Ghislaine Maxwell will no longer appose keeping “vast swaths of information” about her “sex trafficking operation” with Jeffrey Epstein sealed, after accuser Virginia Roberts Giuffre requested they be made public, according to the Daily Mail.

One of Maxwell’s lawyer stated in a letter to federal judge Loretta Preska last week that the defense team will no longer object to exposing the identities of the “John Does” contained in a 2015 civil lawsuit brought by Giuffre against Maxwell.

“After careful review of the detailed objections submitted by Non-Party Does 17, 53, 54, 55, 73, 93, and 151, counsel for Ghislaine Maxwell writes to inform the Court that she does not wish to further address th …

Read more at: https://www.zerohedge.com/geopolitical/ghislaine-maxwell-will-no-longer-fight-keep-epstein-john-does-secret-suspected

Amazon halts plan to block UK Visa credit cards amid talks

Plans to block the cards are halted as the two sides continue to try to resolve a dispute over payment fees.

Read more at: https://www.bbc.co.uk/news/business-60022166?at_medium=RSS&at_campaign=KARANGA

UK train services cut due to Covid staff absences

Train operators switch to emergency timetables as a result of high staff sickness rates.

Read more at: https://www.bbc.co.uk/news/business-60024712?at_medium=RSS&at_campaign=KARANGA

Credit Suisse boss Horta-Osorio resigns over Covid breaches

Antonio Horta-Osorio leaves the bank after breaking UK quarantine rules to watch tennis at Wimbledon.

Read more at: https://www.bbc.co.uk/news/business-60019735?at_medium=RSS&at_campaign=KARANGA

Four reasons why the rally in value stocks may broaden in 2022

After two years of strong outperformance of value-style equities, the key question for investors is can the rally continue for a third year in a row? In our view, fundamental drivers remain in place for the continuation of value outperformance.

Read more at: https://economictimes.indiatimes.com/markets/stocks/news/four-reasons-why-the-rally-in-value-stocks-may-broaden-in-2022/articleshow/88949936.cms

Crypto class: Difference between crypto coin & token

At a fundamental level, both crypto coins and tokens are alike but they are two different things – all coins are tokens, but not all tokens are considered coins

Read more at: https://economictimes.indiatimes.com/markets/cryptocurrency/crypto-class-difference-between-crypto-coin-token/articleshow/88947666.cms

Fintech is great. But not big enough to break banks

The total banking sector loans in India are Rs 110 trillion, of which Rs 55 trillion is lent to companies and Rs 30 trillion to individuals. It is a huge landscape, and fintech firms such as PayU Finance, Mobikwik, Krazybee, CapitalFloat, Simpl and Lendingkart have had a decent start.

Read more at: https://economictimes.indiatimes.com/markets/stocks/news/fintech-is-great-but-not-big-enough-to-break-banks/articleshow/88946492.cms

Market Snapshot: Get ready for the climb. Here’s what history says about stock-market returns during Fed rate-hike cycles.

As it turns out, during so-called Federal Reserve interest rate-hike cycles, which we seem set to enter as early as March, the U.S. stock market tends to perform strongly, not poorly.

Read more at: http://www.marketwatch.com/news/story.asp?guid=%7B20C05575-04D4-B545-7877-1C609DBB7F89%7D&siteid=rss&rss=1

Market Extra: Is the stock market open today? Here are the trading hours on Martin Luther King Jr. Day

U.S. stock and bond markets will be closed Monday, January 17 in observance of the life of Dr. Martin Luther King, Jr., after a volatile start to the year.

Read more at: http://www.marketwatch.com/news/story.asp?guid=%7B20C05575-04D4-B545-786B-61924BBF373F%7D&siteid=rss&rss=1

‘The gap in credit access is growing along racial lines’: Black applicants are denied a mortgage 84% more often than white peers

The gap in mortgage denial rates between Black and white Americans has grown during the pandemic.

Read more at: http://www.marketwatch.com/news/story.asp?guid=%7B20C05575-04D4-B545-786B-91D31ABD3997%7D&siteid=rss&rss=1