Fitch downgrades US debt rating from the highest AAA rating to AA+
on debt ceiling drama and governance worries
https://www.cnn.com/2023/08/01/business/fitch-downgrade-us-debt/index.html

US debt has long been considered the safest of safe havens, but Tuesday’s rating cut suggests it has lost some of its luster. The downgrade has potential reverberations on everything from the mortgage rates Americans pay on their homes to contracts carried out all across the world.

The move could cause investors to sell US Treasuries, leading to a spike in yields that serve as references for interest rates on a variety of loans.

Fitch said the decision wasn’t just prompted by the latest debt ceiling standoff but rather “a steady deterioration in standards of governance over the last 20 years” regarding “fiscal and debt matters.”

S&P has maintained its AA+ rating on the US after the 2011 downgrade while Moody’s has kept its AAA rating.

In fiscal year 2022, the US paid $475 billion in interest — or 1.9% of gross domestic product. That amount will nearly triple to $1.4 trillion by 2033, or well over 3% of GDP, according to the CRFB’s analysis of the Congressional Budget Office forecast.

a black eye for the US: Fitch downgrades US debt rating from the highest AAA rating to AA+
on debt ceiling drama and governance worries
https://www.cnn.com/2023/08/01/business/fitch-downgrade-us-debt/index.html

US debt has long been considered the safest of safe havens, but Tuesday’s rating cut suggests it has lost some of its luster. The downgrade has potential reverberations on everything from the mortgage rates Americans pay on their homes to contracts carried out all across the world.

The move could cause investors to sell US Treasuries, leading to a spike in yields that serve as references for interest rates on a variety of loans.

Fitch said the decision wasn’t just prompted by the latest debt ceiling standoff but rather “a steady deterioration in standards of governance over the last 20 years” regarding “fiscal and debt matters.”

S&P has maintained its AA+ rating on the US after the 2011 downgrade while Moody’s has kept its AAA rating.

In fiscal year 2022, the US paid $475 billion in interest — or 1.9% of gross domestic product. That amount will nearly triple to $1.4 trillion by 2033, or well over 3% of GDP, according to the CRFB’s analysis of the Congressional Budget Office forecast.

The Federal Open Market Committee FOMC) meeting schedule 2023:
January 31-February 1.
March 21-22*
May 2-3.
June 13-14*
July 25-26.
September 19-20*
October 31-/November 1.
December 12-13*

Natural Gas Price bounces from the bottom low @6.66

CPI DROPPED TO 7.7% DJIA +1201
hurray!

CPI DROPPED TO 7.7%
hurray!

U.S.-listed Chinese tech stocks promptly fell off a cliff
after Chinese President Xi Jinping secured an unprecedented third term as leader of the People's Republic on Sunday -

https://finance.yahoo.com/m/96c1224d-c0d1-3a7d-9af7-53ce6d7732f5/why-baidu-dingdong-and.html

Chinese stock crushes after Chinese President Xi Jinping secured an unprecedented third term as leader of the People's Republic on Sunday --
and U.S.-listed Chinese tech stocks promptly fell off a cliff as a result.

https://finance.yahoo.com/m/96c1224d-c0d1-3a7d-9af7-53ce6d7732f5/why-baidu-dingdong-and.html

OPEC announces the biggest cut to oil production since the start of the pandemic
https://www.cnn.com/2022/10/05/energy/opec-production-cuts/index.html

OPEC+ said Wednesday that it will slash oil production by 2 million barrels per day, the biggest cut since the start of the pandemic, in a move that threatens to push gasoline prices higher just weeks before US midterm elections.

The group of major oil producers, which includes Saudi Arabia and Russia, announced the production cut following its first meeting in person since March 2020. The reduction is equivalent to about 2% of global oil demand.

“An announced cut of any volume is unlikely to be fully implemented by all countries, as the group already lags 3 million barrels per day behind its stated production ceiling,” Rystad Energy analyst Jorge Leon said in a note.

Rystad Energy estimates that the global oil market will be oversupplied between now and the end of the year, dampening the effect of production cuts on prices.

OPEC+ to consider oil cut of over than 1 million barrels per day

https://www.reuters.com/business/energy/opec-consider-oil-output-cut-over-1-mln-bpd-sources-2022-10-02/

OPEC+ will consider an oil output cut of more than a million barrels per day (bpd) next week, OPEC sources said on Sunday, in what would be the biggest move yet since the COVID-19 pandemic to address oil market weakness.

The meeting will take place on Oct. 5 against the backdrop of falling oil prices and months of severe market volatility which prompted top OPEC+ producer, Saudi Arabia, to say the group could cut production.

OPEC+, which combines OPEC countries and allies such as Russia, has refused to raise output to lower oil prices despite pressure from major consumers, including the United States, to help the global economy.

Prices have nevertheless fallen sharply in the last month due to fears about the global economy and a rally in the U.S. dollar after the Federal Reserves raised rates.

A significant production cut is poised to anger the United States, which has been putting pressure on Saudi Arabia to continue pumping more to help oil prices soften further and reduce revenues for Russia as the West seeks to punish Moscow for sending troops to Ukraine.

OPEC+ to consider oil cut of over than 1 million barrels per day

https://www.reuters.com/business/energy/opec-consider-oil-output-cut-over-1-mln-bpd-sources-2022-10-02/

OPEC+ will consider an oil output cut of more than a million barrels per day (bpd) next week, OPEC sources said on Sunday, in what would be the biggest move yet since the COVID-19 pandemic to address oil market weakness.

The meeting will take place on Oct. 5 against the backdrop of falling oil prices and months of severe market volatility which prompted top OPEC+ producer, Saudi Arabia, to say the group could cut production.

OPEC+, which combines OPEC countries and allies such as Russia, has refused to raise output to lower oil prices despite pressure from major consumers, including the United States, to help the global economy.

Prices have nevertheless fallen sharply in the last month due to fears about the global economy and a rally in the U.S. dollar after the Federal Reserves raised rates.

A significant production cut is poised to anger the United States, which has been putting pressure on Saudi Arabia to continue pumping more to help oil prices soften further and reduce revenues for Russia as the West seeks to punish Moscow for sending troops to Ukraine.

Russia cuts off gas exports to Europe via Nord Stream indefinitely

https://www.cnn.com/2022/09/02/energy/nord-stream-1-pipeline-turned-off/index.html

Russia won't immediately resume exports of natural gas to Europe through its Nord Stream 1 pipeline, worsening a shortage that threatens to tip the continent into an energy crisis this winter.

The news of the extended shutdown comes on the same day as the West's biggest economies agreed to impose a price cap on Russian oil in a bid to limit Moscow's ability to finance its war, while keeping a lid on global inflation. That could result in countries blocking insurance cover or financing for oil shipments.

On Friday, Russian state energy giant Gazprom said it would not resume flows through the pipeline on Saturday as planned because it had detected an oil leak at its Portovaya compressor station. The pipeline has been shut since Wednesday for maintenance.
It didn't give a timeline of when exports might resume.
"Until the issues on the operation of the equipment are resolved, gas supplies to the Nord Stream gas pipeline have been completely stopped," Gazprom said in a statement.
The Nord Stream 1 pipeline is a key artery carrying Russia's vast gas supplies to Europe, accounting for about 35% of Europe's total Russian gas imports last year.
It flows directly to Germany, the bloc's biggest economy, which is particularly reliant on Moscow's gas to power its homes and heavy industry.
But Russia has been in an energy standoff with Europe since it invaded Ukraine in late February.

Oil Bounces since Saudi says
OPEC+ can cut output to address oil slump

https://www.reuters.com/business/energy/saudi-says-opec-has-options-confront-market-challenges-including-cutting-output-2022-08-22/

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Saudi says OPEC+ can cut output to address oil slump

https://www.reuters.com/business/energy/saudi-says-opec-has-options-confront-market-challenges-including-cutting-output-2022-08-22/

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Freeport LNG bounces
Looks to Restart in November

https://www.naturalgasintel.com/freeport-lng-looks-to-restart-in-november-halting-u-s-natural-gas-price-rally/

U.S. natural gas prices nosedived Tuesday afternoon after Freeport LNG Development LP outlined plans to restart partial operations at its export terminal on the Upper Texas Coast later than expected in November. The company had previously guided for a restart in early October.
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Freeport LNG Looks to Restart in November

https://www.naturalgasintel.com/freeport-lng-looks-to-restart-in-november-halting-u-s-natural-gas-price-rally/

U.S. natural gas prices nosedived Tuesday afternoon after Freeport LNG Development LP outlined plans to restart partial operations at its export terminal on the Upper Texas Coast later than expected in November. The company had previously guided for a restart in early October.
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join all 3. Thanks for setup!

oiil price is dripping, weather is cooling off gradually,
KOLD could blow up any time soon

nice!

Nord Stream turbine stuck in transit as Moscow drags feet on permits

https://www.euronews.com/next/2022/07/22/ukraine-crisis-gas-turbine-exclusive#:~:text=BERLIN%20%E2%80%93%20A%20missing%20turbine%20that,familiar%20with%20the%20matter%20said.

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BERLIN – A missing turbine that Moscow says has caused the Nord Stream 1 pipeline to pump less gas to Europe is stuck in transit in Germany because Russia has so far not given the go-ahead to transport it back, two people familiar with the matter said.

The turbine, which usually operates at the Russian Portovaya compressor station, had been undergoing maintenance in Canada but was flown back to Cologne, Germany, on July 17 by logistics firm Challenge Group, one of the people said.

It is currently unclear when the turbine can be returned, the people said, adding this could still take days or even weeks.

The transport back to Germany happened after weeks of consultations between Berlin and the Canadian government over whether such a move would violate Western sanctions imposed on Russia in the wake of its invasion of Ukraine.

Last month, Moscow cut the capacity of Nord Stream 1 by 60%, citing the delayed return of the turbine being serviced by German power equipment company Siemens Energy.

Russia reopened the pipeline on Thursday after a ten-day scheduled maintenance shutdown, but it was still operating at reduced capacity.

Germany dismisses Russia’s argument that the missing turbine is the reason for lower supplies via Nord Stream 1, and has accused Moscow of using gas flows as a political weapon.

Russia has said that the return of the turbine had a direct impact on the pipeline’s safe operation, adding documentation from Siemens Energy needed to reinstall it was still missing.

One of the sources said Moscow had so far not provided the documents needed to import the turbine into Russia, including details on where exactly to deliver it and via which customs station.

“Under normal circumstances, the maintenance of turbines is a routine operation for us,” Siemens Energy said in a statement. “Naturally, we want to transport the turbine to its place of operation as quickly as possible. However, the time it takes is not exclusively within our control.”

The Kremlin said earlier on Thursday that all difficulties with the supply of Russian natural gas to Europe, including the turbine issue, were caused by Western restrictions, and that Russia remained an indispensable part of European energy security.

German Economy Minister Robert Habeck said of the turbine earlier on Thursday: “Sometimes one has the impression that Russia no longer wants to take it back.

“That means the pretext of technical problems actually has a political background, and that is the opposite of being a guarantor for energy security in Europe.”

Habeck said the government was in close contact with Siemens Energy and that it would communicate when the turbine arrives in Russia and has been handed over to Nord Stream’s majority-owner Gazprom.

A spokesperson for Germany’s Economy Ministry declined to comment further. Challenge Group, the logistics company, did not immediately respond to a request for comment. Gazprom, Russia’s natural gas export monopoly, did not reply to repeated requests for comment on Nord Stream 1 and turbines.

During periods of high temperatures, electricity demand increases as people turn up their air conditioners, dehumidifiers, fans, and other cooling equipment. Very high temperature events, like the one in July in the mid-East, tend to push electricity demand to very high levels.

Natural Gas Price Soars On Heat Waves!

Natural Gas Price Soars On Heat Waves!

A Look at Eight New Leveraged Single-Stock ETFs
AXS Investments this week is launching eight new leveraged single-stock ETFs focusing on companies including Tesla Inc. (TSLA), Nvidia Inc. (NVDA), PayPal Inc. (PYPL), Nike Inc. (NKE), and Pfizer (PFE).

Specifically, these funds are the: AXS TSLA Bear Daily ETF (TSLQ); AXS 1.25X NVDA Bear Daily ETF (NVDS); AXS 1.5X PYPL Bear Daily ETF (PYPS); AXS 1.5X PYPL Bull Daily ETF (PYPT); AXS 2X NKE Bear Daily ETF (NKEQ); AXS 2X NKE Bull Daily ETF (NKEL); AXS 2X PFE Bear Daily ETF (PFES); and AXS 2X PFE Bull Daily ETF (PFEL).
https://www.investopedia.com/first-leveraged-single-stock-etfs-launch-5649193

EV competition: TSLA vs BYDDF
Tesla Stock (TSLA) Vs. BYD (BYDDF) Stock: Tesla Earnings Due; China EV Giant Launching Model 3 Rival
https://www.investors.com/news/tesla-stock-vs-byd-stock-comparing-ev-stocks-tsla-byddf/?src=A00220

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Tesla (TSLA) and BYD Co. (BYDDF) are both fast-growing EV giants. While a lot of attention falls on startups such as Rivian Automotive (RIVN), Lucid (LCID), Nio (NIO), Xpeng (XPEV) and Li Auto (LI), as well as traditional automakers pushing into EVs, such as General Motors (GM) and Ford Motor (F), Tesla and BYD are setting the pace.
BYD easily seized the EV crown from Tesla in the second quarter as sales surged. Tesla deliveries fell significantly vs. Q1, reflecting Shanghai lockdowns that forced the factory there to shut down and then operate at limited capacity for much of the quarter. Tesla still leads in all-electric vehicles.


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Tesla Stock (TSLA) Vs. BYD (BYDDF) Stock: Tesla Earnings Due; China EV Giant Launching Model 3 Rival
https://www.investors.com/news/tesla-stock-vs-byd-stock-comparing-ev-stocks-tsla-byddf/?src=A00220

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Tesla (TSLA) and BYD Co. (BYDDF) are both fast-growing EV giants. While a lot of attention falls on startups such as Rivian Automotive (RIVN), Lucid (LCID), Nio (NIO), Xpeng (XPEV) and Li Auto (LI), as well as traditional automakers pushing into EVs, such as General Motors (GM) and Ford Motor (F), Tesla and BYD are setting the pace.
BYD easily seized the EV crown from Tesla in the second quarter as sales surged. Tesla deliveries fell significantly vs. Q1, reflecting Shanghai lockdowns that forced the factory there to shut down and then operate at limited capacity for much of the quarter. Tesla still leads in all-electric vehicles.

BYND breaking out
NFLX is running up before ER next week
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BYND_NFLX BREAKING OUT
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Novavax's (NVAX 2.26%) long wait is over. After multiple delays, the U.S. Food and Drug Administration (FDA) finally granted Emergency Use Authorization (EUA) to the company's COVID-19 vaccine on Wednesday.

https://www.fool.com/investing/2022/07/15/novavaxs-vaccine-won-us-authorization-5-reasons-wh

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Novavax (NVAX) Down as EU Adds Side Effects to COVID Jab Label
https://finance.yahoo.com/news/novavax-nvax-down-eu-adds-122812455.html

Shares of Novavax NVAX fell 26.2% on Jul 14, after the European Medicines Agency’s (EMA) Pharmacovigilance Risk Assessment Committee (“PRAC”) updated the product label of Nuvaxovid, the company’s COVID-19 vaccine, to include some potential side effects like severe allergic reactions and skin problems.

Per the safety report, as of Jun 26, 2022, about 216,000 doses of Nuvaxovid have been administered in the European Union, ever since the company secured approval in the region, last December.
Shares of Novavax have plunged 63.9% so far this year compared with the industry’s 20.6% decline.

Novavax (NVAX) Down as EU Adds Side Effects to COVID Jab Label
https://finance.yahoo.com/news/novavax-nvax-down-eu-adds-122812455.html

Shares of Novavax NVAX fell 26.2% on Jul 14, after the European Medicines Agency’s (EMA) Pharmacovigilance Risk Assessment Committee (“PRAC”) updated the product label of Nuvaxovid, the company’s COVID-19 vaccine, to include some potential side effects like severe allergic reactions and skin problems.

Per the safety report, as of Jun 26, 2022, about 216,000 doses of Nuvaxovid have been administered in the European Union, ever since the company secured approval in the region, last December.

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Shares of Novavax have plunged 63.9% so far this year compared with the industry’s 20.6% decline.


Novavax's (NVAX 2.26%) long wait is over. After multiple delays, the U.S. Food and Drug Administration (FDA) finally granted Emergency Use Authorization (EUA) to the company's COVID-19 vaccine on Wednesday.

https://www.fool.com/investing/2022/07/15/novavaxs-vaccine-won-us-authorization-5-reasons-wh

uptrend continue for
the lovely bears

SQQQ breaking out


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SQQQ breaking out


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Stock Market Retreating since Last December
Semiconductor /Chip sector and the FAANG big tech group are not doing well. Recession continues til next year.
https://stockcharts.com/freecharts/candleglance.html?MU,AMD,NVDA,LRCX,TSM,AMAT,QCOM,KLAC,SOXS,SOXL|D|D20|0


https://stockcharts.com/freecharts/candleglance.html?META,AMZN,AAPL,NFLX,GOOG,TSLA,MSFT,BA,ROKU,ZM|D|D20|0
ZM and ROKU  dropped from above 400 t below 100 during this period

Ohio Governor DeWine says Intel delay on $20 billion chip plant is about ‘leverage’
https://www.cnbc.com/2022/07/01/ohio-governor-intel-delay-on-20-billion-chip-plant-about-leverage.html

Ohio Gov. Mike DeWine still has high hopes for Intel, even after the company announced that its plan for a massive semiconductor plant east of Columbus could see its scope scaled back or construction delayed.

“I truly believe that this is the Midwest’s time. I believe it’s Ohio’s time,” DeWine, a Republican, said in an interview.

Intel said it was canceling a July 22 groundbreaking ceremony at the site while the company waits for Congress to pass the CHIPS Act, which includes $52 billion in assistance to the U.S. semiconductor industry to revitalize a key segment of the domestic supply chain.

5D15min_


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Ohio Governor DeWine says Intel delay on $20 billion chip plant is about ‘leverage’
https://www.cnbc.com/2022/07/01/ohio-governor-intel-delay-on-20-billion-chip-plant-about-leverage.html

Ohio Gov. Mike DeWine still has high hopes for Intel, even after the company announced that its plan for a massive semiconductor plant east of Columbus could see its scope scaled back or construction delayed.

“I truly believe that this is the Midwest’s time. I believe it’s Ohio’s time,” DeWine, a Republican, said in an interview.

Intel said it was canceling a July 22 groundbreaking ceremony at the site while the company waits for Congress to pass the CHIPS Act, which includes $52 billion in assistance to the U.S. semiconductor industry to revitalize a key segment of the domestic supply chain.

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Qualcomm Spikes on Report It Will Remain iPhone 5G Modem Chip Supplier in 2023

Qualcomm shares soared Tuesday on a report that Apple’s push to develop modem chips for the iPhone “may have failed,” and that Qualcomm will remain the exclusive supplier of 5G chips for phones to be launched in the 2023 second half.

Writing on Twitter, the Taiwan-based hardware analyst Ming-Chi Kuo said that Qualcomm (ticker: QCOM) will hold on to 100% of the Apple (AAPL) modem supply for the 2023 iPhones vs the company’s own previous estimate of 20%.

Kuo wrote that he thinks Qualcomm’s revenue and profits for the 2023 second half and 2024 first half “will likely beat consensus” estimates as a result.

The analyst added that he thinks Apple will continue to develop 5G modem chips, “but by the time Apple succeeds and can replace Qualcomm, Qualcomm’s other new businesses should have grown enough to significantly offset the negative impacts caused by the order loss of iPhone 5G chips.”

https://finance.yahoo.com/m/1f1fd244-eec7-3af8-95d7-8ed5e6bfb9f0/qualcomm-spikes-on-report-it.html

Qualcomm Spikes on Report It Will Remain iPhone 5G Modem Chip Supplier in 2023

Qualcomm shares soared Tuesday on a report that Apple’s push to develop modem chips for the iPhone “may have failed,” and that Qualcomm will remain the exclusive supplier of 5G chips for phones to be launched in the 2023 second half.

Writing on Twitter, the Taiwan-based hardware analyst Ming-Chi Kuo said that Qualcomm (ticker: QCOM) will hold on to 100% of the Apple (AAPL) modem supply for the 2023 iPhones vs the company’s own previous estimate of 20%.

Kuo wrote that he thinks Qualcomm’s revenue and profits for the 2023 second half and 2024 first half “will likely beat consensus” estimates as a result.

The analyst added that he thinks Apple will continue to develop 5G modem chips, “but by the time Apple succeeds and can replace Qualcomm, Qualcomm’s other new businesses should have grown enough to significantly offset the negative impacts caused by the order loss of iPhone 5G chips.”

https://finance.yahoo.com/m/1f1fd244-eec7-3af8-95d7-8ed5e6bfb9f0/qualcomm-spikes-on-report-it.html

LABU at 5.24
good entry point

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Market bounce after selling off for 5 days since Fed rate hike announcement on May 4

As-of-220513
https://stockcharts.com/freecharts/candleglance.html?AFRM,HOOD,BYND,ZLAB,SE,WE,SOFI,SI,OSH,PTON|B|D20|0

https://stockcharts.com/freecharts/candleglance.html?CPNG,LAZR,UPST,OPEN,COIN,SFTBY,NKLA,PATH,LCID,SHOP|B|D20|0
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https://stockcharts.com/freecharts/candleglance.html?YINN,ASAN,BABA,BEKE,BILI,CD,CPNG,DIDI,DQ,GDS|B|D20|0

https://stockcharts.com/freecharts/candleglance.html?IQ,JKS,LKNCY,NIO,NU,PDD,QFIN,TCOM,TME,XPEV|B|D20|0

Market watch 220513
Market bounce after selling off for 5 days since Fed rate hike announcement on May 4
https://stockcharts.com/freecharts/candleglance.html?AFRM,HOOD,BYND,ZLAB,SE,WE,SOFI,SI,OSH,PTON|B|D20|0

https://stockcharts.com/freecharts/candleglance.html?CPNG,LAZR,UPST,OPEN,COIN,SFTBY,NKLA,PATH,LCID,SHOP|B|D20|0
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https://stockcharts.com/freecharts/candleglance.html?YINN,ASAN,BABA,BEKE,BILI,CD,CPNG,DIDI,DQ,GDS|B|D20|0

https://stockcharts.com/freecharts/candleglance.html?IQ,JKS,LKNCY,NIO,NU,PDD,QFIN,TCOM,TME,XPEV|B|D20|0