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How U.S. Research Damning Electric Cars is Funded by Saudi Oil Interests

By
Matt Smith
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U.S. Department of Energy, Oak Ridge National Laboratory
Hidden in the hardwood forests of eastern Tennessee is a glass-and-steel American Wakanda of impulsed neutron beams, supercomputers, and atom probe microscopes. Here, at the U.S. Department of Energy’s Oak Ridge National Laboratory, Enrico Fermi and fellow scientists raced to develop the neutron bomb, and subsequent generations worked on the world’s-fastest computers, helped develop nuclear submarines and advanced spacecraft, analyzed greenhouse gas emissions, and made world-changing discoveries such as ribonucleic acid and the role of the Y chromosome.
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How U.S. Research Damning Electric Cars Is Funded by Saudi Oil Interests

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Global Markets Inch Higher as U.S. Political Climate Pressures Stocks

Nasdaq Composite
gained 0.3%. The small-cap
Under the surface, the S&P 500 energy sector closed up 3.6%, financials gained 1.1%, and consumer discretionary stocks added 1.5%. Defensive utilities and health care fell 0.6% and 1.1%, respectively, while technology stocks lost 0.5%. That dynamic has more or less prevailed since the fall.
Fourth-quarter earnings season begins later this week, with several large banks kicking things off as usual. Wall Street expects S&P 500 earnings to be 12% lower in the final three months of 2020 versus the same period in 2019, according to data from Bloomberg. Sales are expected to decline 6%.
The scrutiny will be much higher for defensive and relatively pandemic-proof sectors like consumer staples or technology. Those companies’ fundamentals have held up or improved during the pandemic, and investors will want to see that continuing in the fourth quarter. For the cyclical and economically sensitive companies that have led the market since the fall, some signs of progress or optimistic management commentary about the post-pandemic future should suffice.

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