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Germany’s COVID caseload makes biggest leap in two weeks

BERLIN (Reuters) -Germany’s coronavirus caseload took its biggest jump in two weeks on Thursday, with over 28,000 new infections, the Robert Koch Institute said, adding heft to worries about restrictions this winter.

The number of new infections per 100,000 people over seven days – one of the metrics used to determine policy measures – stands at 130.2, up 12.2 points from 118.0 the previous day. New infections have been steadily creeping up since mid-October.

The number of COVID-19 patients in intensive care units (ICUs) has risen 15% within a week, the head of the German Hospital Federation (DKG), Gerald Gass, told the Redaktionsnetwork Deutschland media group. If the trend continues, he said, there could be 3,000 cases in the ICU in two weeks. “Even if the hospitals could handle it, it would not be possible without constraints on normal operations,” Gass said. SPD health expert Karl Lauterbach told the Rheinische Post newspaper that lockdowns or school closures were not on the cards, but the decision on whether to lift safety measures such as mask mandates would depend on the situation in spring.

The three political parties in talks to form the next government have said they do not support extending a pandemic-related state of emergency set to expire on Nov. 25.

Instead, they have recommended amending Germany’s Infection Protection Act to allow states to impose protective measures. State leaders fear a patchwork of different regulations in each region could make them harder to enforce. NN: You pay me to be a trusted ADVISOR. I present the facts the best i can. But it you who much decide. I am balanced and fair in my presentations to you. I strive to presents all side of the issues  of the day. As far as your health, wealth and freedoms are concerned. You are the captain of your ship, the final inspector, the adult in the room. I am down to 20 dogs. And they are the guardians at the gate. They are well cared for and NEVER abused in any way. They love us and we love them. Their sense of loyalty is amazing. They are NEVER caged and run free. They actually guard us day and night in shifts. Some assigned to the gate. Other take the high ground and others the low. They spread themselves out all over the compound. They naturally guard the housing units… And  they know when to guard them and when no one is in them. Its amazing. They never bark for no reason. If it is people coming down the road they regard that as a greater threat and go crazy. We have learned if they bark to use the cameras and scan. We have laser cameras, Night vision cameras and thermal imaging cameras. The problem is they regard a stray dog, or a rabbit as something to bark at. I am your barking dog st the gate. Its you that must decide if its a rabbit or the natives coming to get you with torches and pitch forks. Another wave is coming deadlier and more infectious then the last… Bark bark bark!

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US crude inventories up 4.3 million barrels – EIA

Crude oil prices retreated today after the Energy Information Administration reported an inventory build of 4.3 million barrels for the week to October 22. This compared with a modest draw of 400,000 barrels for the previous week and analyst expectations for a build of 1.65 million barrels. Gasoline stocks were down by 2 million barrels, the EIA also said, with production slightly up on the previous week. This compared with an inventory draw of 5.4 million barrels for the previous week, with production averaging 10.1 million bpd. In middle distillates, the agency estimated an inventory decline of 400,000 barrels for the week to October 22. Production of middle distillates averaged 4.6 million bpd. This compared with a middle distillate inventory decline of 3.9 million barrels a week earlier, and production of 4.4 million bpd. Refinery inputs averaged 15 million bpd last week, the EIA also said, an increase of 58,000 bpd on a week earlier. Imports of crude averaged 6.3 million bpd, compared with 5.8 million bpd a week earlier. Oil prices hit a seven-year high on Tuesday, driven up by continued robust demand in the United States and the tight global supply situation, which OPEC+ has signaled it will not alleviate for now with additional supply. The situation is expected to remain tense. “The energy crunch is still nowhere close to subsiding, so we expect prevailing strength in oil prices in November and December as supply lags demand and as OPEC+ stays on the sidelines,” Reuters quoted Louise Dickson from Rystad Energy as saying earlier this week. One other analyst from OANDA said it was possible that Brent crude would reach $90 per barrel by the end of the year. Earlier, Goldman Sachs, which had forecast Brent at $90, said the benchmark could even top that by the end of the year.

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US trades with gains in premarket after records

https://youtu.be/M9BgmZDVAhQ

Shares on the major stock market indices in the United States traded in the green in the premarket on Wednesday after both the Dow Jones Industrial Average and the S&P 500 closed at all-time highs the day before. Twitter, Microsoft, and Alphabet have recorded increases in revenues according to their prior day’s releases, with Boeing set to publish its earnings report before the opening bell. On the data front, the traders will monitor the data on the US durable goods orders, as well as the country’s trade balance. The Dow Jones went up by 0.16% at 4:24 am ET, while the Nasdaq 100 gained 0.19% at the same time. The S&P 500 concurrently grew by 0.14%. The euro advanced by 0.08% against the dollar, selling for 1.16053 at 4:25 am ET.

Twitter’s Q3 revenue at $1.28B, up by 37% YoY

Twitter Inc. announced on Tuesday its revenue in the third quarter of 2021 came in at $1.28 billion, marking an annual rise of 37% but still missing expectations. On the other hand, it recorded an operating loss of $743 million and a net loss of $537 million, which went down from both operating and net incomes observed in the same period in 2020. Meanwhile, its diluted losses per share were at $0.67 per share, worsening from earnings per share (EPS) of $0.04. “I am proud of our third quarter results. We’re improving personalization, facilitating conversation, delivering relevant news, and finding new ways to help people get paid on Twitter,” Twitter’s Chief Executive Officer (CEO) Jack Dorsey commented on the results. Following the release of the report, Twitter’s shares went down by 1.63% in the after-hours trading.

Microsoft’s revenue jumps 22% YoY to $45.3Billion

Microsoft Corporation reported on Tuesday that its revenue reached $45.3 billion in the first quarter of fiscal 2022 after rising 22% from the same timespan in the prior year. Net income grew 48% on an annual basis to stand at $20.5 billion in the quarter that ended on September 30, 2021, while operating income amounted to $20.2 billion, up 27% year on year. Diluted earnings per share hit $2.71, soaring 49% from the first three months of fiscal 2021. “Digital technology is a deflationary force in an inflationary economy. Businesses – small and large – can improve productivity and the affordability of their products and services by building tech intensity,” Chairman and CEO Satya Nadella noted.

Alphabet posts Q3 revenue at $65.1Billion up 41% YoY

Alphabet Inc. reported on Tuesday its third-quarter revenue at $65.1 billion, beating expectations of around $63.3 billion and rising by 41% compared to the same quarter in 2020. The diluted earnings per share (EPS) stood at $27.99, much higher than the expected $23.48 and 70.6% higher year-on-year. Net income jumped 68.7% on a yearly basis to reach $18,9 billion. “Five years ago, I laid out our vision to become an AI-first company. This quarter’s results show how our investments there are enabling us to build more helpful products for people and our partners. Ongoing improvements to Search, and the new Pixel 6, are great examples. And as the digital transformation and shift to hybrid work continue, our Cloud services are helping organizations collaborate and stay secure,” CEO Sundar Pichai said.

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Oil slides as Crude oil inventories rose 2.3 million barrels

LONDON (Reuters) – Oil prices fell on Wednesday after industry data showed crude oil stockpiles rose more than expected and fuel inventories unexpectedly increased last week in the United States, the world’s largest oil consumer. Crude oil inventories rose 2.3 million barrels in the week ending Oct. 22,  American Petroleum Institute figures said late on Tuesday. That was the 5th straight weekly increase. Gasoline inventories rose by 500,000 barrels and distillate stocks increased by 1 million barrels,  With Brent rising the past eight weeks and WTI climbing for the past 10 weeks supplies are roaring back. “Barring more bullish headlines, which is possible considering what we saw yesterday, we could see some profit-taking in Brent and WTI which would be healthy for the market,” said Craig Erlam, senior market analyst at OANDA. Storage tanks at the Cushing, Oklahoma, delivery hub for WTI oil are more depleted than they have been in the last three years, while prices for longer-dated futures contracts point to supplies staying at those levels for months. But a patchy recovery around the world from the worst health crisis in 100 years, after the COVID-19 pandemic dented demand for months on end, has often led to doubts over the sustainability of prices. “The global oil market is still at risk due to not fully containing the coronavirus and its variants,” said Stephen Brennock of oil broker PVM. “A flare-up in cases over the summer weighed heavily on prices and this could feasibly happen again if the situation worsens.” NN: My position is clear. If they want to pay me $80 a barrel for oil i will sell them some. And if they are fool enough to pay me $90 a barrel i will sell them a whole lot more

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Grid Operator: France Needs Nuclear Power For Net-Zero

France could reach net-zero emissions by 2050 if it continues to keep a large nuclear generation fleet in the long term and develop significantly renewable energy sources, the operator of the French grid, RTE, said in a report on Monday on the pathways to reaching carbon neutrality.Nuclear power generates most of France’s electricity. France curre ntly gets more than 70 percent of its total electricity from nuclear power generation and is a major exporter of electricity, including to the UK. France cannot meet its goals by nuclear energy alone, or by renewables only, the grid operator said. The country will need 14 new nuclear reactors and a lot more renewable energy developments if it is to reach net-zero by 2050 at the cheapest cost, it added.  Building more nuclear reactors would be feasible if access to financing for nuclear power doesn’t differ from the ease of funding for other low-carbon technologies, the French grid operator said. Earlier this month, French President Emmanuel Macron said that France aimed to become a leader in green hydrogen production and reinvent nuclear power by building a small modular reactor by 2030 as part of a wider $34.6 billion (30 billion euro) plan to decarbonize industry and slash emissions. France’s bet on nuclear power—unlike Germany’s decision to phase out all nuclear plants after the Fukushima disaster—has been vindicated in recent weeks as Europe’s natural gas and power prices hit record highs. The gas and electricity crisis clashed with the net-zero pledges of the European Union and the United Kingdom as some utilities were forced to fire up mothballed coal plants as natural gas prices surged. France also led a group of EU member states, including Finland and several central and eastern European countries, who pushed earlier this week for including nuclear energy in the upcoming green investment rules of the European Union. “To win the climate battle, we need nuclear power,” say the EU member states led by France. This push has divided Europe, and the EU is reportedly delaying a decision on how to deal with nuclear energy, as well as natural gas, in upcoming legislation about which types of energy would classify as eligible for “green financing.”

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Factbox-Countries vaccinating children against COVID-19

https://youtu.be/7jvBJiCG7pY

(Reuters) – The U.S. Food and Drug Administration’s committee of outside experts will weigh in on authorisation of Pfizer Inc and BioNTech SE’s COVID-19 vaccine for emergency use in children aged 5-11. The panel’s vote to the FDA on Tuesday is an important regulatory step toward inoculating millions of children in the United States, where schools are largely open for in-person learning. The FDA is not mandated follow the advice of its outside experts, but usually does. But with many parts of the world still awaiting doses for more vulnerable people, the World Health Organisation has urged countries and companies that control the global supply of the vaccines to prioritize supply to COVAX. The following is a list of some countries that have approved or are considering vaccinating children:

EU COUNTRIES

* On Oct. 18, the EU’s medicines regulator said it had started evaluating the use of Pfizer and BioNTech’s COVID-19 vaccine in 5 to 11-year-old children.

* In June, Denmark said it would offer COVID-19 shots to children aged 12-15 to boost its overall immunity against the virus.

* France has started vaccinating those from 12 years upwards, provided they have parental consent.

* Germany in August agreed to make vaccination available to all children aged 12-17.

* Austria has started vaccinating children aged 12-15.

* Estonia could start vaccinating teenagers by the autumn, public broadcaster ERR reported, citing the head of the government’s COVID-19 council.

* Hungary started vaccinating 16 to 18-year-olds in mid-May, according to Xinhua news agency.

* Italy on May 31 approved extending the use of Pfizer’s vaccine to 12-15 year olds.

* Lithuania’s prime minister said the country could start vaccinating children from age 12 in June, news site Delfi reported.

* Spain begun vaccinating children between 12 and 17 years old around two weeks before the academic year in September, the health minister said.

* Swedish PM says children aged 12-15 will be offered COVID vaccine later this autumn.

* Greece in July said children aged 12-15 could be vaccinated against COVID-19 with Pfizer/BioNTech and Moderna shots.

* Finland’s capital Helsinki in June said it will begin giving COVID-19 vaccines to children aged 12 to 15 who are at risk of contracting a severe coronavirus infection.

* On July 27, Ireland lowered the age for COVID-19 vaccination to 12 years.

* Poland started offering COVID-19 vaccines to children of ages 12-15.

EUROPE (NON-EU)

* Britain’s top medical advisers in September recommended that 12 to 15-year-olds receive a first dose of a COVID-19 vaccine.

* Switzerland approved on June 4 vaccinating 12 to 15-year-olds with Pfizer’s shot, while Moderna’s shot was approved in August for the age group.

* In September, Norway started to offer one dose of Pfizer and BioNTech COVID-19 vaccine to children aged 12 to 15

* San Marino has opened vaccinations for children aged 12-15, reported San Marino RTV, citing its Institute for Social Security.

MIDDLE EAST

* In August, Israel on Sunday began offering a COVID-19 booster to children as young as 12.

* The United Arab Emirates said in August rolled out China’s Sinopharm COVID-19 vaccine to children aged 3-17.

* Bahrain approved Sinopharm COVID-19 vaccine for children aged 3-11 from Oct. 27.

ASIA-PACIFIC

* Indonesia on June 28 recommended China’s Sinovac vaccine for children aged 12-17.

* An advisory committee to the Indian regulator recommended emergency use of Bharat Biotech’s COVID-19 shot in the 2 to 18 age-group. The regulator’s nod is awaited.

* New Zealand’s medicines regulator has provisionally approved use of Pfizer’s vaccine for 12-15 year olds, Prime Minister Jacinda Ardern said on June 21.

* Australia said on Sept. 12 it will expand its COVID-19 vaccination drive to include around one million children aged 12-15.

* China on June 5 approved emergency use of Sinovac’s vaccine for those between three and 17.

* Hong Kong said on June 3 it would open its vaccine scheme to children over the age of 12.

* Singapore opened up its vaccination programme to adolescents aged 12-18 from June 1.

* Japan on May 28 approved the use of Pfizer’s vaccine for those aged 12 and above.

* The Philippines on May 26 decided to allow the Pfizer-BioNTech’s vaccine for emergency use in children aged 12-15.

* Jordan in July begun vaccinating children aged 12 years and older against COVID-19.

AMERICAS

* The COVID-19 vaccine by Pfizer-BioNTech will be the only one used in Mexico for at-risk children aged 12-17.

* Brazil on June 11 approved use of Pfizer’s vaccine for children over 12.

* On Sept. 6, Chile approved the COVID-19 vaccine produced by China’s Sinovac Biotech Ltd for use in children over 6 years of age.

* Pfizer and BioNTech are seeking clearance for a 10 microgram dose version of the vaccine in children aged 5-11, versus 30 mg for everyone over the age of 12. The shot has been authorized for ages 12-15 since May and cleared for everyone over 16 since December.

* Canada in early May approved use of Pfizer’s vaccine for use in children aged 12-15. On Oct. 18, Health Canada received a submission from Pfizer/Biontech to authorize the use of shot in children between 5 and 11 years of age.

* Cuba’s vaccination campaign includes children as young as two.

* On Sept. 13, El Salvador cleared the use of COVID-19 vaccine in 6 to 11-year-old children. (https://bit.ly/30RiKe7)

AFRICA

* South Africa will start vaccinating children between the ages of 12 and 17 next week using the Pfizer vaccine

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Number of COVID-19 infections in Spain hits 5 million, Russia, Portugal, England all report a surge in infections

MADRID Spain reached the grim milestone of 5 million COVID-19 cases during the pandemic, as it reported 4,485 new infections and 54 deaths since Friday. The total number of people who have now tested positive for COVID-19 is 5,002,217 according to Health Ministry data. More than three quarters of the Spanish population has now been fully vaccinated against COVID-19 and most restrictions on socializing have recently been dropped, although masks remain mandatory in enclosed spaces. The incidence rata over the past two weeks rose by two points to 46.3, edging back up after bottoming out earlier this month. Spain has registered 87,186 deaths since the start of the pandemic. NN: Its conclusive the next wave is upon us. The medical community front line heroes know this. Reality is this is a new mutant stain that they are not even testing for by DNA sequencing…. Inquiring minds DO NOT want to know. Russia, Germany, England, Portugal and Spain are all reporting a surge is new infections and hospitalizations. Sources in the US report that the covid emergency units are starting to fill up again. You have been warned… Their Back!!!

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WTI Crude Hits Highest Level In 7 Years

The culprit behind the latest jump in oil prices isn’t soaring natural gas prices or even OPEC+’s limits on output but rather what is happening at America’s largest oil storage hub in Oklahoma.  Traders are fretting that stockpiles in Cushing will fall as low as they physically can. It has sent gauges of market health known as timespreads soaring to their most bullish levels in years, a move that is now spilling over to the global Brent benchmark. Cushing is the delivery point for U.S. crude futures and one of the largest storage hubs in the world. Supply and demand balances there drive daily oil trading worth hundreds of millions of dollars. The higher the cost of oil for prompt delivery relative to later-dated contracts reflects just how short supply is relative to demand. The numbers are eyewatering. For U.S. crude, nearby contracts are at their biggest premium to those for five months later since 2018 — when Cushing stockpiles were near operational lows. The December-December spread, a favored trade of the world’s oil hedge funds, is at its strongest since 2013 a year when prices averaged almost $100 a barrel.

Prompt spreads surge as supplies tighten

As a result, the oil market is doing whatever it can to keep U.S. crude at home. West Texas Intermediate crude was its smallest discount to international benchmark Brent since April 2020, a move that’s set to curb flows abroad. That means similar quality North Sea barrels are expected to rally, and that is spurring buying of the global Brent benchmark’s structure. Its closely-watched Dec.-Red-Dec. spread is just 60 cents away from a record.  “This is really a Cushing story with market fears around tank bottoms,” said Kit Haines, a global crude analyst at consultant Energy Aspects. “WTI is pricing to stay domestic. Brent will have to chase to get the sweet barrels, and already has to a certain extent” he said, referring to those with a low sulfur content. The relative value of lower-sulfur crudes has climbed in recent weeks as natural gas prices boost the cost of hydrogen — a key ingredient in sulfur removal. As a result, Brent’s premium to heavier sour crudes has grown to its widest since 2018 in recent days. Canada is a microcosm of the dynamic with traders across the U.S. shunning its heavy oil production in favor of lighter grades.

Spread between WTI and Brent shrinks

Despite the surge, there are reasons to be cautious. Demand from Asia has helped support physical crude markets in recent weeks but there are some signs of a slowdown. Two supertankers laden with Forties have also been floating off Southwold, England, for more than one month after failing to secure buyers in Asia, according to ship tracking data compiled by Bloomberg. Higher premiums for light-sweet crudes make them less attractive to buyers in Asia and physical differentials are yet to show the same roaring strength as timespreads. The rampant bullishness also shows up in speculative flows. Oil options flows indicate investors strongly favor bullish wagers- known as calls – over bearish bets. Trading of Brent $100 calls has jumped in weeks, and open interest over the next year has almost doubled to more than 80,000 contracts so far this month. There’s also been buying as high as $150 and $200. For now though, the Brent market is following WTI higher as traders wager that light sweet supply will remain tight. The difference between January and February contracts is above a dollar for the first time since 2019, while the February-March spread also topped a dollar. The only other time that spreads further down the futures curve have settled at such strong levels, headline prices were trading closer to $100. “Brent spreads are rallying as the idea of diminished exports from the U.S. with good margins and stronger global runs means that Brent related barrels may have to replace U.S. crudes,” said Scott Shelton energy specialist at ICAP. NN: They have another couple of months until supplies arrive in mass. If they want pay us $100 a barrel for crude we should sell them some

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Repsol brings Norway’s Yme oil field back on stream after 20 years

OSLO, Oct 25 (Reuters) – Spanish energy firm Repsol (REP.MC) started oil production at Norway’s Yme field on Monday, the company said in a statement, applying new technology to bring the North Sea petroleum reservoir back on stream 20 years after it was first abandoned. Norway’s Equinor (EQNR.OL) closed Yme in 2001 after only six years of production amid a plunge in crude oil prices, while Canada’s Talisman Energy later gave up an attempt to revive the field. “Achievement of first oil is a true testament to the lean operations of the Yme New Development project,” Repsol said, adding that it was made possible “through the use of new technology and innovation”. The Spanish firm and its partners aim to produce about 63 million barrels in extra recoverable oil reserves, with plateau output seen at 56,000 barrels of oil equivalent per day (boepd), the company said. “COVID-19 has unfortunately caused the project to be delayed and more costly than expected, but we have still managed to deliver the project in a safe and reliable way,” said Vidar Nedreboe, head of Repsol’s Norwegian operations. Repsol has 55% stake and operates the field, while Polish Lotos (LTSP.WA) has 20%, Norway’s OKEA 15% and Kuwaiti KUFPEC the remaining 10%. “With production start in highly favourable market conditions, Yme will add significant positive cash flows going forward and further strengthen OKEA’s positioning for the next growth phase,” OKEA Chief Executive Svein Liknes said. The Norwegian independent said it expected its share of net production from Yme to average about 5,600 boepd for the next 12 months, compared to its total production in the third quarter of 2021 of 16,315 boepd. Norwegian authorities approved the redevelopment plan for the Yme field in 2018 after an earlier project launched by Canada’s Talisman Energy was abandoned over technical problems. Talisman was acquired by Repsol in 2015. Repsol will produce oil using a mobile drilling rig, Maersk Inspirer, modified to serve as a production facility, a more economic solution compared to the previous plan to have a fixed platform. In addition, price of North Sea oil surged to a multi-year highs in October as economies recover from pandemic-induced slumps. Since the plan’s approval in 2018, Yme’s startup has been delayed several times however and its costs rose by a third to 11.9 billion Norwegian crowns ($1.42 billion), Norway’s fiscal budget for 2022 showed earlier this month. NN: Do not let them shit you. All the oil the market could ever want or need is on the way…….

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S&P 500 Rebounds To New Record High As Heightened Volatility Confirmed

 

  • SPX reached a new record high on
  • Thursday, October 21, closing at 4,549.78, which puts the trajectory of the index into the upper half of the latest redzone forecast range.
  • The market is experiencing greater-than-typical levels of volatility.
  • The market-moving headlines of the week point to several contributing factors for what new information has contributed to improving the outlook for investors.

Given all the issues that are dominating the news, would you have guessed the S&P 500 (Index: SPX) would reach a new record high? The index closed at a record high of 4,549.78 on Thursday, October 21, 2021, which puts the trajectory of the index into the upper half of the latest redzone forecast range:

Sharp-eyed readers will catch that the trajectory of the range has itself shifted upward, which is a result of the “dynamic” method we use to set it. When we bridge across periods where the echoes of past volatility in stock prices affect the dividend futures-based model’s projections, the past end of the range is fixed, while the future end “floats” with changes in expectations. For the chart, the rising expectations for the future now means parts of the S&P 500’s actual trajectory that were once within the redzone forecast range now fall outside of it. That’s visible by design in this period, because we set the total width of this forecast range to be plus or minus three percent of the historic typical level of volatility for stock prices. Under typical volatility levels, the trajectory of the index should generally fall well within that statistically determined range. But as the chart visually confirms, the market is experiencing greater-than-typical levels of volatility. For us, what that means is that when we get around to projecting the S&P 500’s future trajectory for 2021-Q4, we’ll need to generate a new redzone forecast, since today’s stock prices will become the base reference points from which we project the future for the index in that period. The echoes of today’s volatility will affect the accuracy of the dividend futures-based model’s projections a year from now. The market-moving headlines of the week point to several contributing factors for what new information has contributed to improving the outlook for investors. was: NN: their is a lot of hyper-blow out their. Their is so much money in the markets because of stimulus insanity everyone is a market Grue. Reality is a precious few really understand what is going on. To be more precise A epic stock market crash is coming. Driven by embedded inflation… And a soon to be desperate FED that has gotten it so wrong…. again. You got to love these pompous pricks they have allowed us to take million out of the market over and over again. So we wait for the stock market rally to continue. We are shorting oil, soon we will short bitcoin and gold. and the big Kahuna,….. A stock market wipe out that will make 1929, 1987, 1990, 1997, 2000-2001, 2007-2008, 2020 look like a cake walk……. I  predict our greatest trades ever is this coming stock market crash which will be the 2022-2023 biggest market disaster yet. We need to get our ducks lined up in a row.