12Sep2022 Market Close & Major Financial Headlines: Good Day For The Markets. Strategic Petroleum Reserve Has Been Drawn Down To The Lowest Since September 1984.

China’s Economic Stumbles Weigh On Metal Prices

After powering to new highs in the Spring, metal prices continue to slide. Iron ore, aluminum, and copper have all fallen to varying degrees, and those merely represent the largest volumes. Meanwhile, the bulls continue to retreat while demand fears trump supply fears. Prices surged earlier this year based on several predictions. The first was that rapidly rising energy costs would restrain supply. The second being that the loss of Russian supply would drive prices up. However, long positions continue to cut as the market factors in concerns that

Read more at: https://oilprice.com/Metals/Commodities/Chinas-Economic-Stumbles-Weigh-On-Metal-Prices.html

Will Beijing Emerge As A Leader In The Russia-India-China Trilateral?

At the Shanghai Cooperation Organization (SCO) foreign ministers meeting in late July, which included China, India, Kazakhstan, Kyrgyzstan, Pakistan, Russia, Tajikistan, and Uzbekistan, Peoples Republic of China (PRC) State Councilor and Foreign Minister Wang Yi exhorted member states to uphold the Shanghai Spirit (????, Shanghai Jingshen) of mutual trust, mutual benefit, equality, mutual consultations, diverse civilizations, and the pursuit of common development (Gov.cn, July 29). He then presented a five-point

Read more at: https://oilprice.com/Geopolitics/International/Will-Beijing-Emerge-As-A-Leader-In-The-Russia-India-China-Trilateral.html

Understanding Quantum Matter In Superconductors

SLAC National Accelerator Laboratory researchers discovered that nickel oxide superconductors contain a phase of quantum matter, known as charge density waves, thats common in other unconventional superconductors. The new study shows that nickel oxide superconductors, which conduct electricity with no loss at higher temperatures than conventional superconductors do, contain a type of quantum matter called charge density waves, or CDWs, that can accompany superconductivity. In other ways, though, theyre surprisingly unique. Unconventional

Read more at: https://oilprice.com/Energy/Energy-General/Understanding-Quantum-Matter-In-Superconductors.html

Fitch Ratings: EU Will Not Get More Pipeline Gas from Russia Until Year End

The European Union will not get natural gas via pipeline from Russia before the end of the year, Fitch Ratings is now assuming. The credit rating firm changed its natural gas outlook for the EU based on statements made by Russias President Vladimir Putin and other Russian officials, which indicated that the Nord Stream 1 (NS1) pipeline flows would remain offline until Russian sanctions are lifted. Those with a high dependency on NS1 supplies and low immediate options to diversify gas sources, like Germany, have limited room for maneuver,

Read more at: https://oilprice.com/Latest-Energy-News/World-News/Fitch-Ratings-EU-Will-Not-Get-More-Pipeline-Gas-from-Russia-Until-Year-End.html

Tamarack Becomes Largest Player In Clearwater Play After $1.1B Acquisition

Calgary-based Tamarack Valley Energy Ltd will acquire Deltastream Energy Corp in a CAD$1.425-billion (nearly US$1.1 billion) deal that renders it the largest producer in the Clearwater unconventional heavy oil play in Canadas Alberta province. The acquisition will add 23,000 barrels per day of oil equivalent to Tamaracks production next year, according to the company. “With this transaction, Tamarack will become the leading public Clearwater business, with an exceptional combined asset base, Bill Slavin, Managing

Read more at: https://oilprice.com/Latest-Energy-News/World-News/Tamarack-Becomes-Largest-Player-In-Clearwater-Play-After-11B-Acquisition.html

Which Is The Best Electric Semi-Truck?

Electric semi trucks are coming, and they could help to decarbonize the shipping and logistics industry. However, range remains a major limitation. This presents challenges for long-hauling, where the average diesel-powered semi can travel up to 2,000 miles before refueling. Compare this to the longest-range electric model, the Tesla Semi, which promises up to 500 miles. A key word here is promises the Semi is still in development, and nothing has been proven yet. In this infographic, Visual Capitalist’s Marcus Lu and Zack Aboulazm

Read more at: https://oilprice.com/Energy/Energy-General/Which-Is-The-Best-Electric-Semi-Truck.html

Holiday airfare will be most expensive in 5 years as pandemic fears wane

Fares for both Thanksgiving and Christmas are significantly higher than 2019, before the pandemic.

Read more at: https://www.cnbc.com/2022/09/12/thanksgiving-christmas-travel-to-lift-airfare.html

Starbucks to unveil ‘reinvention’ strategy at investor day on Tuesday

Starbucks is expected to unveil a reinvention plan on Tuesday as the coffee giant grapples with changing consumer behavior.

Read more at: https://www.cnbc.com/2022/09/12/starbucks-to-unveil-reinvention-strategy-at-investor-day-on-tuesday.html

Gun law advocates hail new credit card code as a way to cut down on suspicious sales

Gun law advocates hail new credit card code as a way to cut down on suspicious sales

Read more at: https://www.cnbc.com/2022/09/12/gun-law-advocates-hail-credit-card-code-as-way-to-cut-down-suspicious-sales.html

Ford expands hands-free driving system to $40,000 Lincoln Corsair crossover

The 2023 Corsair, starting at about $40,000, will be the lowest-priced vehicle in the company to offer the technology.

Read more at: https://www.cnbc.com/2022/09/12/fords-hands-free-driving-tech-in-lincoln-corsair-starting-at-40000.html

Everything we learned about the Marvel Cinematic Universe at the D23 Expo

Disney unveiled more information about its burgeoning Marvel Cinematic Universe during the D23 Expo on Saturday.

Read more at: https://www.cnbc.com/2022/09/10/disney-reveals-marvel-cinematic-universe-updates-at-d23-expo.html

Confused about the housing market? Here’s what’s happening now – and what could happen next

From rising rates to low inventories, here’s what you need to know about the topsy-turvy U.S. housing market.

Read more at: https://www.cnbc.com/2022/09/09/housing-market-confusion-whats-happening-next.html

Prestige is the prize for AppleTV+ at the Emmys, not subscribers

AppleTV+ won the Best Picture award at the Oscars and now it’s looking to snag Outstanding Drama and Outstanding Comedy Series at this year’s Emmys.

Read more at: https://www.cnbc.com/2022/09/09/prestige-is-the-prize-for-appletv-at-the-emmys-not-subscribers.html

Loeb reverses course on push to get Disney to spin off ESPN

Activist investor Dan Loeb indicated that he’s going to retreat from his push to get Disney to spin off ESPN.

Read more at: https://www.cnbc.com/2022/09/11/loeb-reverses-course-on-push-to-get-disney-to-spin-off-espn.html

American Eagle joins list of clothing retailers reporting bleak earnings

American Eagle joined the list of retailers struggling with excess inventory and offering discounts to move products.

Read more at: https://www.cnbc.com/2022/09/09/american-eagle-joins-list-of-clothing-retailers-reporting-bleak-earnings.html

5 things to know before the stock market opens Monday

Here are the most important news items that investors need to start their trading day.

Read more at: https://www.cnbc.com/2022/09/12/5-things-to-know-before-the-stock-market-opens-monday-september-12.html

Shanghai, Mumbai, Melbourne and beyond: CNBC names the best Asia-Pacific hotels for business travel

After months of research, CNBC and Statista release the rankings of the best hotels for business travelers in 47 cities in Asia-Pacific.

Read more at: https://www.cnbc.com/2022/09/12/best-hotels-for-business-travelers-in-asia-pacific.html

Everything we learned at Disney’s parks panel at the 2022 D23 Expo

Disney continues to add new features and attractions to its theme parks and cruise lines, which it outlined Sunday at its D23 Expo.

Read more at: https://www.cnbc.com/2022/09/11/everything-we-learned-at-disneys-parks-panel-at-the-2022-d23-expo.html

Where Walmart, Amazon and Target are spending billions in a slowing economy

Big box retailers are doubling down on investments, including technology and store redesigns, as the way consumers shop after the pandemic is transformed.

Read more at: https://www.cnbc.com/2022/09/11/where-walmart-amazon-target-are-spending-billions-in-slowing-economy.html

Last Operating Reactor At Ukraine’s Largest Nuclear Plant Shut Down

Authored by Jessica Corbett via Common Dreams,

The last nuclear reactor operating at a Russian-occupied plant in Ukraine was shut down after a power line connecting the facility to the grid was restored late Saturday.

Global concerns about a possible meltdown at the six-reactor Zaporizhzhia nuclear power plant (ZNPP) have mounted since late February, when Russia invaded Ukraine—home of the infamous Chernobyl disaster. The nations have accused each other of shelling the facility. Zaporizhzhia—Europe’s largest nuclear station—had been operating in “island mode,” with the sixth reactor generating the electricity required to run necessary cooling systems, after being disconnected from the grid.

Planet Labs PBC via APEnergoatom, the state-run operator of Ukraine’ …

Read more at: https://www.zerohedge.com/geopolitical/last-operating-reactor-ukraines-largest-nuclear-plant-shut-down

Liquidity Fated To Scupper Smooth-Running Of Fed’s QT

By Simon White, Bloomberg Markets Live commentator and reporter

Liquidity constraints and uncertainty around investor preferences mean that QT is unlikely to operate as smoothly as optimists predict. Bill Dudley in a Bloomberg Opinion article today suggests that QT is unlikely to “cause any major disruptions”. This implicitly makes assumptions we cannot be certain of.

In simple terms, the heavy lifting of the Fed’s balance-sheet decline can be done by the ~$2.5 trillion held in the reverse repo facility (RRP), or the $3.2 trillion held in bank reserves. If the decline is predominantly met by a fall in the RRP, this is the best, least disruptive outcome. Reserves held by users of the RRP — at least 80% money market funds (MMFs) — are mainly “low velocity” and therefore their loss should have a more limited impact on the broader economy.

But the Fed has no control over how its balance sheet declines. When the Fed allows a Treasury to mature, it has no agency over how the Treasury pays back the Fed, or who buys the re-issued debt.

If the reserves ultimately come from a MMF, then they can draw down on their RRP at the Fed and the net impact is limited; but if ultimately a tax payer meets the obligation, then this involves a decline in bank reserves, negatively impacting economic activity.

So far, reserves are down almost 25% from their 1-year peak while the RRP is down only 3%.

Read more at: https://www.zerohedge.com/markets/liquidity-fated-scupper-smooth-running-feds-qt

Biden Withdraws Record Amount Of Crude From ‘Strategic Midterm Reserve’

It would appear that President Biden’s administration is getting more and more desperate as the Midterms loom as the pace at which they are draining the nation’s so-called ‘strategic’ reserve of crude oil just went to ’11’.

Last week saw almost 8.54 million barrels withdrawn from the SPR – the biggest weekly drain in history.

This unprecedented collapse of the Strategic Petroleum Reserve to its lowest since September 1984 has helped lower oil prices (from their record highs)…

Read more at: https://www.zerohedge.com/political/biden-withdraws-record-amount-crude-strategic-midterm-reserve

Kamala Comes Out Of Hiding, Slams “Activist” Supreme Court

Authored by Jonathan Turley,

On Meet the Press, Vice President Kamala Harris denounced the conservatives on the Supreme Court as “activists” due to their decision to overturn Roe v. Wade. She objected that the decision ignored decades of precedent and “we are suffering as a nation because of it.” The common attack on the integrity of the justices is beneath the office of the Vice President and only legitimates the unfair attacks on these justices who are fulfilling their oath to uphold what they believe are the dictates of the Constitution (as did their colleagues in dissent in Dobbs).

This week, I had the honor of speaking at the annual judicial conference for the United States Court of Appeals for the Tenth Circuit. I spoke on the recent religion cases …

Read more at: https://www.zerohedge.com/political/vice-president-kamala-harris-comes-out-hiding-slams-activist-supreme-court

Aldi and John Lewis among shops closing for Queen’s funeral

Waitrose, Aldi, Lidl, John Lewis and Primark have all said they will close on Monday 19 September.

Read more at: https://www.bbc.co.uk/news/business-62879563?at_medium=RSS&at_campaign=KARANGA

Fixed energy deals could be more expensive than variable

Customers on fixed deals will receive a discount, but not every tariff will end up the same.

Read more at: https://www.bbc.co.uk/news/business-62878614?at_medium=RSS&at_campaign=KARANGA

Mourners set to create ‘unprecedented’ demand for travel in London

Transport bosses say they expect “unprecedented” numbers on railways and roads in London.

Read more at: https://www.bbc.co.uk/news/business-62877195?at_medium=RSS&at_campaign=KARANGA

TMB’s grey market premium fizzles out; will a dent in Harsha Engineering follow?

Market experts believe that Tamilnad Mercantile Bank is likely to be listed around its issue price due to muted response and mixed analyst views for the lender.The private lender, which raised Rs 831.60 crore from the primary markets between September 5 and 7, is likely to debut on the bourses on Thursday, September 15.

Read more at: https://economictimes.indiatimes.com/markets/stocks/news/tmbs-grey-market-premium-fizzles-out-will-dent-harsha-engineering-follow/articleshow/94152532.cms

Tech View: Nifty50 forms small bullish candle; upside capped

Analysts said the recent price action suggests the index is preparing for a downward trend. 17,700 and 17,500 will be key supports for the index incoming days, whereas any upside will be dependent upon a decisive break of the 18,000 level, analysts said.

Read more at: https://economictimes.indiatimes.com/markets/stocks/news/tech-view-nifty50-forms-small-bullish-candle-upside-capped/articleshow/94154469.cms

These 7 IT stocks still trading more than 50% away from their 52-week high

Last week, Nifty IT index witnessed a gain of about 3.5%. However, in the calendar year 2022 so far, the index is down about 27% and its constituents have fallen over 14 per cent. If the index stocks start moving in an upward direction then it will be a very interesting sector to watch out for.”With the US economy heading towards a soft landing and IT companies under margin pressure due to high wages, stocks are taking the beating. They are still not inside the attractive valuation zone. However, 5-10% more correction and they will again start attracting investors’ interest,” said Siddarth Bhamre, Head of Research, Religare Broking Limited.Here are 7 stocks from the sector that are still trading at least 50% away from their 52-week high price.

Read more at: https://economictimes.indiatimes.com/markets/stocks/news/these-7-it-stocks-still-trading-more-than-50-away-from-their-52-week-high/not-it-anymore/articleshow/94149978.cms

Futures Movers: Oil futures up 3 sessions in a row, with U.S. prices at their highest finish this month

Oil futures rise for a third straight session on Monday, with U.S. prices posting their highest finish so far this month.

Read more at: http://www.marketwatch.com/news/story.asp?guid=%7B20C06575-04D4-B545-7120-1748FD9C2E12%7D&siteid=rss&rss=1

Market Snapshot: U.S. stocks rally ahead of August inflation reading, aiming for 4-day winning streak

The positive mood from the last several days, which helped Wall Street snap a three-week losing streak, continues into Monday’s afternoon session.

Read more at: http://www.marketwatch.com/news/story.asp?guid=%7B20C06575-04D4-B545-7120-0E0A85FC24A6%7D&siteid=rss&rss=1

IPO Report: This AIG spinoff is the biggest IPO of the year at just $1.8 billion as 2022 deals dry up

The U.S. initial public offering market is facing what may be the biggest deal of the year this week as AIG spinoff Corebridge Financial seeks to raise up to $1.8 billion in proceeds.

Read more at: http://www.marketwatch.com/news/story.asp?guid=%7B20C06575-04D4-B545-7120-549CEB12A7B7%7D&siteid=rss&rss=1