12Dec2022 Market Close & Major Financial Headlines: U.S. Financial Markets Open Higher And Close Near Session Highs

How To Invest As This Economic Cycle Nears Its End

As this economic cycle ends, we shouldn’t expect to see the patterns of the past decade repeated. A new regime in policy and market behavior is unfolding which investors need to understand if they are to find the best opportunities and safeguard their portfolios. The re-opening of economies after Covid sparked a phenomenon investors have not experienced in decades. Strong demand met limited supply, causing inflation to rise sharply. Central banks were slow to react, blaming transitory factors such as the war in Ukraine for temporary spikes

Read more at: https://oilprice.com/Finance/the-Markets/How-To-Invest-As-This-Economic-Cycle-Nears-Its-End.html

Saudi Aramco Seeks Investors For $110 Billion Unconventional Gas Project

Saudi Aramco is in early-stage talks with potential equity investors that would help fund a huge $110 billion unconventional gas field development in the Kingdom, sources with knowledge of the negotiations told Bloomberg on Monday. Aramco is seeking investors to back the field development of Jafurah, the largest non-associated gas field in Saudi Arabia, as the world’s top crude oil exporter looks to develop its gas assets to reduce dependence on oil for power generation and free up more crude for exports. Saudi oil giant Aramco

Read more at: https://oilprice.com/Latest-Energy-News/World-News/Saudi-Aramco-Seeks-Investors-For-110-Billion-Unconventional-Gas-Project.html

Uzbekistan Scrambling To Tackle Fuel Shortages

As temperatures plunge in Uzbekistan, fuel shortages are sending officials scrambling for short-term fixes. Videos posted online from locations across the country this week have shown people queuing in the snow for gas tanks, long lines of vehicles at gas stations, and even people blocking roads in frustration. In one scene of protest outside a factory in the Fergana region where work has ceased due to lack of energy, a middle-aged man yelled into a camera: There are no salaries. How can we survive? What to do? There is no gas or

Read more at: https://oilprice.com/Energy/Energy-General/Uzbekistan-Scrambling-To-Tackle-Fuel-Shortages.html

UK Grid Operator Asks Coal Plants To Be Available For Backup

As temperatures in the UK plummet, National Grid, the transmission system operator, asked two contingency coal-fired power plants to be ready to send more electricity to the grid on Monday if needed. “We’ve issued a notification to warm two winter contingency coal units. This measure should give the public confidence in Monday’s energy supply,” National Grid said today, as temperatures dropped and snow fell in London, creating traffic chaos. “This notification is not confirmation that these units will be used on Monday, but that they will be available

Read more at: https://oilprice.com/Latest-Energy-News/World-News/UK-Grid-Operator-Asks-Coal-Plants-To-Be-Available-For-Backup.html

Steelmakers Worry Prices Could Hit Break-Even Thresholds

Via AG Metal Miner The Raw Steels Monthly Metals Index (MMI) fell by 2.34% from November to December. Ultimately, U.S. steel prices remain decidedly bearish. Meanwhile, hot rolled coil prices saw the most substantial decline, falling 12.6% month over month. Plate prices, on the other hand, mainly remained sideways but continued to edge slowly downward with a 2.9% decline. Steelmakers Lob Price Hikes at Falling Steel Prices Eager to stop the price descent, U.S. steelmakers once again announced price increases on flat-rolled products.

Read more at: https://oilprice.com/Metals/Commodities/Steelmakers-Worry-Prices-Could-Hit-Break-Even-Thresholds.html

China Sees $10 Billion In LNG Tanker Orders In 2022

Three of China’s shipyards won almost a third of this year’s orders to make new LNG carriers, Reuters said on Monday. China shipyards only one of which has experience building new LNG tankers are getting a significant piece of the pie for new LNG carriers, which hit a record this year at 163 orders. The orders that China’s shipyards are seeing tripled this year, to 45, and some of China’s ship makers that only recently became certified to build the LNG tankers, are even seeing foreign orders for the first

Read more at: https://oilprice.com/Latest-Energy-News/World-News/China-Sees-10-Billion-In-LNG-Tanker-Orders-In-2022.html

Electric school buses are giving kids a cleaner, but costlier, ride to class

Electric school buses help the environment and are better for the children they carry, but they come with steep upfront costs.

Read more at: https://www.cnbc.com/2022/12/10/electric-school-buses-give-kids-a-cleaner-but-costlier-ride-.html

Gen Z loves Minions, horror, and Dwayne ‘The Rock’ Johnson

Gen Z loves Minions, horror movies, and Dwayne “The Rock” Johnson, according to new data from decision intelligence company Morning Consult.

Read more at: https://www.cnbc.com/2022/12/12/gen-z-loves-minions-horror-and-dwayne-the-rock-johnson.html

SpaceX launches lunar lander for Japanese venture ispace, which aims to create an economy around the moon

If successful, ispace would be the first private company to land on the moon – a feat previously accomplished by global superpowers.

Read more at: https://www.cnbc.com/2022/12/11/spacex-launches-japanese-ispace-lunar-lander-first-mission.html

Rivian pauses plan to make electric vans in Europe with Mercedes-Benz

Rivian said it remains open to exploring future work with Mercedes-Benz “at a more appropriate time.”

Read more at: https://www.cnbc.com/2022/12/12/rivian-pauses-plans-to-make-electric-vans-in-europe-with-mercedes-benz.html

NASA’s Orion capsule splashes down, completing the first Artemis moon mission

NASA’s Orion spacecraft splashed down in the Pacific Ocean off the coast of Baja Mexico on Sunday, completing the agency’s Artemis 1 mission.

Read more at: https://www.cnbc.com/2022/12/11/nasa-completes-artemis-i-moon-mission-with-orion-capsule-splash-down.html

Walmart-backed fintech startup plans to launch its own buy now, pay later loans

The fintech startup, called One, wants to launch a service that shoppers could use at Walmart’s website and stores, as well as at other retailers.

Read more at: https://www.cnbc.com/2022/12/09/walmart-fintech-startup-one-to-launch-buy-now-pay-later-loans.html

‘Early filers’ should wait to submit their tax return in 2023, the IRS warns. Here’s why

The IRS has a warning for early tax filers: You’ll need to wait for “key documents” before submitting your return. Here’s what to know before filing.

Read more at: https://www.cnbc.com/2022/12/12/irs-when-to-submit-your-tax-return-in-2023-to-avoid-missing-forms.html

Stocks making the biggest moves midday: Horizon Therapeutics, Coupa Software, Weber, and more

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

Read more at: https://www.cnbc.com/2022/12/12/stocks-making-the-biggest-moves-midday-horizon-therapeutics-coupa-software-weber-and-more.html

Jim Cramer’s Investing Club meeting Monday: Fed update, oil stocks, Disney

The Investing Club holds its “Morning Meeting” every weekday at 10:20 a.m. ET.

Read more at: https://www.cnbc.com/2022/12/12/jim-cramers-investing-club-meeting-monday-stocks-rise-watching-oil.html

Making these 5 money moves now can set you up for financial success in the new year

Here are five moves you should consider making before Dec. 31 that can help to prepare you for financial success in 2023.

Read more at: https://www.cnbc.com/2022/12/12/5-money-moves-to-make-now-to-ensure-financial-success-in-the-new-year.html

Marijuana industry sales slow down after pandemic surge

After years of rapid growth, the U.S. cannabis industry is showing signs of fatigue amid challenging economic conditions and growing pains.

Read more at: https://www.cnbc.com/2022/12/09/marijuana-industry-sales-slowdown.html

Here’s a map of Starbucks stores that voted to unionize

Friday marks the one-year anniversary of Starbucks Workers United’s first win, in Buffalo, New York.

Read more at: https://www.cnbc.com/2022/12/09/map-of-starbucks-stores-that-voted-to-unionize.html

Dovish Fed Will Send Oil Back To $100: BofA

The Bank of America has predicted that Brent could quickly go past $90 per barrel on the back of a dovish pivot in the U.S. Federal Reserve and successful economic reopening by China.

BofA’s chief commodity strategist Francisco Blanche forecast that Brent prices–currently trading around $78–will average $100/bbl in 2023 thanks to Chinese oil demand recovery on a post-COVID reopening coupled with a drop in Russian supplies of about 1 million barrels per day (bpd). According to the investment bank, OPEC+ is likely to fully implement a 2 million bpd output cut in a bid to boost oil prices.

The forecast has come at a time when oil prices have been steadily declining due to fears that a weakening global economy would curb fuel demand. Last week, Beijing announced the most sweeping changes to its strict Covid-19 guidelines, including relaxing testing requirements and travel restrictions. Further, people infected with Covid-19 but have only mild or no symptoms are now allowed to isolate at home instead of convalescing in centrally managed facilities.

“Our oil demand and price projections for 2023 rely heavily on robust China and India demand growth, so any Asia reopening delays could affect our expected price trajectory,” said Blanch, adding that the path to a post-pandemic environment may not be easy “given the low levels of immunity in China.”

Upside aside, how …

Read more at: https://www.zerohedge.com/commodities/dovish-fed-will-send-oil-back-100-bofa

Everything You Need To Know About The Final Stimulus Checks In California

Authored by Mike Valles via The Epoch Times,

The final stimulus checks in California are currently being sent out. Distributing the money started in October when it was sent via direct deposit. The program is called the Middle Class Tax Refunds (MCTR), and recipients will receive between $200 and $1,050.

The reason for the California state stimulus checks is to help residents cope with high inflation occurring across the nation. It is a one-time payment, and they should all be made between October 2022 and January 2023, says the California Franchise Tax Board (FTB)—the agency responsible for distributing the money.

People that have not yet received their California stimulus check can expect to receive a debit card in the mail. Most everyone expecting money should have already received it. Only some debit cards remain to be mailed, but most have already been sent.

Read more at: https://www.zerohedge.com/personal-finance/everything-you-need-know-about-final-stimulus-checks-california

“Net Energy Gain” – US Scientists Make Breakthrough In Nuclear Fusion

As the world moves towards net-zero emissions, sustainable and affordable power sources are urgently needed by humanity.

As Visual Capitalist’s Bruno Venditti details below, one of the most promising technologies, fusion, has attracted the attention of governments and private companies like Chevron and Google.

In fact, Bloomberg Intelligence has estimated that the fusion market may eventually be valued at $40 trillion.

Producing energy through nuclear fusion has been a long-held ambition for scientists and energy experts, and has prominently featured in science fiction novels and movies.

The process involves fusing nuclei together, which throws off energy – which could then provide theoretically abundant energy on earth.

Scientists …

Read more at: https://www.zerohedge.com/energy/net-energy-gain-us-scientists-makes-breakthrough-nuclear-fusion

Morgan Stanley Latest Bank To Slash Bonuses, Asian Bankers Could See 50% Cuts

Morgan Stanley is the latest in a long line of investment banks that are paring back on bonuses this holiday season. The bank’s Asia banker bonuses could be cut by as much as 50%, a new report from Reuters said this morning.

The conservative tone towards end-of-year paydays for bankers this year stands at stark odds with the record bonus paydays banks were distributing at end of year 2021.

As rates have risen, deal-making has slowed significantly, however. According to Reuters, discussions about bonuses are currently “underway” at the company globally. This means that U.S. and European arms of the bank could follow Asia’s lead in cutting bonuses.

The slashing of bonuses means that overall compensation for bankers in Asia could drop by a stunning average of 30% – not the static job security anyone is looking for in an environment where CPI is at 8%.

Recall, just days ago we noted that Jefferies was also considering slashing bonuses.

Jefferies chief executive Rich Handler and president Brian Friedman penned a memo that went out to employees last week, claiming that due to the bank’s aggressive hiring over the last 3 years, in combination with slumping deals, that bonuses would come in lighter than normal.

Read more at: https://www.zerohedge.com/markets/morgan-stanley-latest-bank-slash-bonuses-asian-bankers-could-see-50-cuts

Train strikes: RMT members reject latest Network Rail pay offer

Walkouts will resume on Tuesday after RMT union members rejected what it called a “substandard” deal.

Read more at: https://www.bbc.co.uk/news/business-63942172?at_medium=RSS&at_campaign=KARANGA

Strike daily: How will walkouts on Tuesday 13 December affect you?

Zoe Conway sets out what you should know about the rail strike and other strike action this week.

Read more at: https://www.bbc.co.uk/news/uk-63942006?at_medium=RSS&at_campaign=KARANGA

UK economy will get worse before it gets better, warns chancellor

The chancellor says data showing the UK economy shrank by 0.3% reflects a “challenging” situation.

Read more at: https://www.bbc.co.uk/news/business-63891327?at_medium=RSS&at_campaign=KARANGA

Hot streak of foreign buyers for Indian bonds faces CPI hurdle

Global funds have poured a cumulative $465 million into Indian bonds over 13 straight days, the longest stretch since June 2017, on optimism that the US Federal Reserve and Reserve Bank of India may slow the pace of rate increases.

Read more at: https://economictimes.indiatimes.com/markets/bonds/hot-streak-of-foreign-buyers-for-indian-bonds-faces-cpi-hurdle/articleshow/96168858.cms

Golden Crossovers: These 4 stocks signal further bullishness

In the BSE list of stocks, four stocks with a market cap of over Rs 500 crore are witnessing Golden Crossovers, according to stockedge.com’s technical scan data. Golden Cross is an important technical indicator of bullishness. It occurs when the short-term moving average crosses over the major long-term moving average on the upside. These stocks’ 50-day simple moving averages (SMA) crossed their 200-day SMAs on December 9. Take a look:

Read more at: https://economictimes.indiatimes.com/markets/stocks/news/golden-crossovers-these-4-stocks-signal-further-bullishness-on-dec-12/stock-ideas/articleshow/96161548.cms

Big Movers on D-Street: What should investors do with Yes Bank, Punjab Sind Bank & Central Bank of India?

Stocks that were in focus include names like Yes Bank which was up nearly 11%, Punjab and Sind Bank rose over 7%, and the Central Bank of India rallied over 4%. Here’s what Pravesh Gour, Senior Technical Analyst, Swastika Investmart recommends investors should do with these stocks when the market resumes trading today:

Read more at: https://economictimes.indiatimes.com/markets/stocks/news/big-movers-on-d-street-what-should-investors-do-with-yes-bank-punjab-sind-bank-central-bank-of-india/articleshow/96160550.cms

These are the 5 most damning things FTX’s new CEO has to say about Sam Bankman-Fried

John J. Ray III is set to lay out an alarming picture to Congress of how badly mismanaged the crypto exchange really was.

Read more at: http://www.marketwatch.com/news/story.asp?guid=%7B20C06575-04D4-B545-7167-7F9B6E4A6B47%7D&siteid=rss&rss=1

Amgen wins battle for Horizon Therapeutics, bolstering its rare-disease portfolio

Amgen Inc. is acquiring Dublin-based Horizon Therapeutics in a roughly $28 billion deal that is the biggest in the healthcare sector in 2022.

Read more at: http://www.marketwatch.com/news/story.asp?guid=%7B20C06575-04D4-B545-7167-7473C69CBF6C%7D&siteid=rss&rss=1

Market Snapshot: Dow rises 300 points to start a week rich with inflation and central bank news

Stocks move higher to start a week that will see U.S. consumer price data on Tuesday and a rate decision by the Federal Reserve on Wednesday.

Read more at: http://www.marketwatch.com/news/story.asp?guid=%7B20C06575-04D4-B545-7167-0B10051DB560%7D&siteid=rss&rss=1