Today the global stock market rout was pretty awful after the US female economic experts, Janet Yellen and Loretta Mester, said that inflation is no longer "transitory". This came as other shocks also hit stock markets.

US new non-farm hires in November were a minuscule 210,000, well down even from the lowest estimates for 300,000 and even less than the consensus forecast of 550,000.

Having been cautious about the charms of China I am not surprised that DIDI Global has been ordered to delist from the NYSE and move its listing to Hong Kong. But the Asian markets crumbled in part because of this move by the Great Leader in Beijing. Didi listed here only about 5 months ago and raised $4.4 bn in capital with its IPO. Other silly news by the PRC hitting a company using toy guns for video gaming sites, San Cheng, further scared foreign investors in China. Citi Group is seeking a securities license from Beijing according to the Wall Street Journal. This took down Fanuc in Japanese trading today, FANUY fell 2.5%. 

China is auctioning its Duan Weitiong

The other good news also failed to click, a move by OPEC countries to product more crude so as to cut the cost of the stuff. But what with worries about other energy matters this did not save our market from panic over Omicron.

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Drugs

The irony is that Beijing was actually trying to boost its ratings with approvals of foreign medicines today. It will reimburse 5 BeiGene drugsIt also will pay for a cancer drug from Eli Lilly, sintiliimab which worked with BGNE on it.

*Roche says it has developed a PCR test to detect the Omicron variant of covid. RHHBY.

*Esperion raised $225 mn with its stock offering and the share fell on the dilution today. ESPR.

*Bristol Myers says the FDA here will give a priority review to its reblozy to treat non transfusion dependent beta thalassemia. The share gained 1.72% on the news. BMY.

*Naspers of South Africa fell 4.6% today on fear of the impact of the virus there. In fact, Africa may not have been the source of Omicron at all as it was showing up in Europe before it hit Jo'berg. NPSNY.

*Merck dropped 0.81% today. MRK.

*Glaxo lost 0.72% in UK trading. GSK.

*Astra Zeneca fell 1.55% even though it now will aim to make a profit on its covid-19 jabs. AZN.

*It being Friday when Tel Aviv is closed, TEVA fell 2.54%. There is no way to boost prices if only ADRs are trading.

*The mRNA booster is rated tops in Britain according to the Harvard Medical School magazine. It is the one we got. The loser is Pfizer whose booster shot appears to be less comprehensive. All this is still speculation.

*Novacure fell 6.81% at the opening today. NVCR.

*Bioline RX dropped 5.54%. BLRX.

*Thermo Electron, TMO, which I plan to donate, rose because Britain optimed to investigates its acquisition of PPD.

Energy

*OPEC will normalize deliveries to 400-kilo barrels per day. Its members typically cheat against quotas,

*Brazilian Cosan rose 0.57% on the OPEC news, a rare event. CSAN.

*Deutsche Bank raised BP PLC to a buy over the oil price cut.

*Shell has exited the British greenfield offshore North Sea project which may now become unviable as a result. RDS-B shares fell a half percent today in UK trading.

*GE and Hitachi will build small modular reactors (using a standard mode.) for Canada starting in Ontario.

*Total stock is up on its plan to produce oil offshore Angola. Totalenergie is French and most of its energy investing is in former French colonies, but Angola was Portuguese.

*Investor, IVSBF, lost when Agnaft withdrew its bid for SOBC of which the Norway group owns 35%. It aims to diversify away from ener

*The usual suspects fell on worries about energy, UUUU (Energy Fuels) fell 7.5% while PLUG (Plug Power) fell 8.98%. Azure Power (AZRE) fell 3.63%. but recovered to only be down 2%+. Cameco (CCJ) fell 3.76% because nuclear electricity will be less advantageous if oil prices drop and there is more oil available.

*Nio fell 9.42%, I know not why. Three writers discussed NIO on seeking alpha and were neutral, buyers, or sellers.

*Tesla fell 4.44%. That's easier because the CEO does the selling. TSLA.

Finance

*Banco Santander is again extending its off for its US Santander Consumer stock buy-out. It is not raising the price, just adding time. SAN.

*Gold is up.