Core Viewpoint - Argo Gold Inc. has signed a 60-day advertising and e-marketing contract with 1001103323 Ontario Inc. for marketing services, including social media engagement, at a cost of CAD$20,000 [1]. Company Overview - Argo Gold is a Canadian mineral exploration and development company, as well as an oil producer. The company is listed on the Canadian Securities Exchange under the ticker CSE: ARQ and also trades on OTC and various European exchanges [2].

Group 1: Production Overview - In December, the production of raw coal, crude oil, and natural gas in large-scale industries remained stable, while electricity production continued to grow [1] - The raw coal output in December was 440 million tons, a year-on-year decrease of 1.0%, with an average daily output of 14.1 million tons [1] - The crude oil production in December was 17.8 million tons, a year-on-year decrease of 0.6%, with an average daily output of 570,000 tons [1] - The natural gas production in December was 23 billion cubic meters, a year-on-year increase of 5.1%, with an average daily output of 740 million cubic meters [1] Group 2: Yearly Production Data - For the entire year, the raw coal production reached 4.83 billion tons, a year-on-year increase of 1.2% [1] - The total crude oil production for the year was 216.05 million tons, a year-on-year increase of 1.5% [1] - The total natural gas production for the year was 261.9 billion cubic meters, a year-on-year increase of 6.2% [1] Group 3: Electricity Production - The electricity generation in December was 858.6 billion kilowatt-hours, a year-on-year increase of 0.1%, with an average daily generation of 27.7 billion kilowatt-hours [1] - For the entire year, the electricity generation reached 9,715.9 billion kilowatt-hours, a year-on-year increase of 2.2% [1] Group 4: Breakdown by Energy Source - In December, the decline in thermal power generation narrowed to 3.2%, a decrease of 1.0 percentage point compared to November [2] - Hydropower generation increased by 4.1%, but the growth rate slowed by 13.0 percentage points compared to November [2] - Nuclear power generation grew by 3.1%, with a slowdown of 1.6 percentage points from November [2] - Wind power generation increased by 8.9%, with a slowdown of 13.1 percentage points compared to November [2] - Solar power generation grew by 18.2%, with a slowdown of 5.2 percentage points from November [2]

Core Viewpoint - The geopolitical risks associated with the U.S. intervention in Venezuela are being underestimated by financial markets, despite the initial calm reaction from investors [1][3][6]. Market Reactions - Asian stocks surged while oil prices saw a modest decline, and gold prices increased due to safe-haven flows following President Trump's announcement regarding U.S. control over Venezuela [2]. - The relatively muted market response to the capture of President Maduro is attributed to Venezuela's small oil production relative to global output, which would require years of investment to restore [4]. Geopolitical Implications - The U.S. military actions in Venezuela could have broader implications for stability in Latin America, raising concerns about potential flow-through effects on the region [4]. - Analysts suggest that the financial markets may not be efficiently pricing the geopolitical risks stemming from U.S. policy shifts in Latin America [6]. Sector-Specific Impact - The defense sector is expected to see immediate impacts, with countries likely to increase defense spending in response to Trump's willingness to use military force [8]. - American oil companies are preparing to invest in Venezuela to restore its oil production, which could unlock the country's vast reserves and potentially boost risk assets in the long term [5].

We will start uh with energy prices but man commodities complex um it's all over the place. Joining us now uh Don Stroven Goldman Sachs co-head of global commodities research. Oil um it's great tax break is what one way to look at for American consumers.It gas is cheap based on where oil is right now. How are the producers doing. >> Yeah.So, US production despite the lower prices continues to surprise to the upside. If you look at the latest US monthly petroleum statistics, US uh liquid supply is up 1.3% mi ...

Market Overview - Major U.S. index futures indicate a mixed opening, with Nasdaq 100 futures down by 0.5% and Dow futures up by 0.2% [1] - The Dow continues to benefit from a shift toward cyclical stocks, reaching a new record closing high [3] - Overall trading activity may be subdued due to a lack of major U.S. economic data [3] Company Performance - Broadcom (AVGO) shares are under pressure, down by 5.4% in pre-market trading despite better-than-expected fiscal fourth quarter results and positive guidance [2] - Other chipmakers like Advanced Micro Devices (AMD) and Micron Technology (MU) are also experiencing pre-market weakness, indicating a potential rotation out of tech stocks [2] - Oracle (ORCL) shares plunged by 10.8% after reporting fiscal second quarter earnings that exceeded analyst estimates but had weaker-than-expected revenues [5][6] Stock Index Movements - The Dow jumped 646.26 points or 1.3% to a new record closing high of 48,704.01, partly driven by a 6.1% increase in Visa (V) shares after an upgrade from Bank of America [4][5] - The S&P 500 rose 14.32 points or 0.2% to 6,901.00, while the Nasdaq closed down 60.30 points or 0.3% at 23,593.86 [4] Economic Indicators - Initial jobless claims in the U.S. rose to 236,000, an increase of 44,000 from the previous week's revised level of 192,000, exceeding economists' expectations [7] - Gold stocks surged by 4.3%, reaching a new record closing high, alongside a significant increase in gold prices [7][9] International Market Reactions - Asian stocks rallied following a less hawkish outlook from the U.S. Federal Reserve, with the Nikkei 225 Index jumping 1.4% [10][12] - Chinese shares rose, with the Shanghai Composite Index up 0.4% after pledges for a proactive fiscal policy [11] - European stocks moved higher, driven by optimism regarding potential interest rate cuts from the U.S. Federal Reserve [16]

Economic Growth Target - Nigeria sets an ambitious three-year growth target [1] - The growth target heavily relies on the non-oil sector [1] Industry Focus - The report focuses on Nigeria, Africa's biggest oil-producing nation [1]

Core Insights - U.S. oil production reached a record high in September, according to data from the Energy Information Administration (EIA), despite ongoing concerns about oversupply [1] Industry Summary - The increase in oil production indicates a robust output environment, which may influence market dynamics and pricing strategies [1] - The record production levels suggest that U.S. oil companies are effectively ramping up operations to meet demand, potentially impacting global oil supply [1]

Company Overview - Strathcona Resources is a Canadian heavy oil producer with a current production rate exceeding 100,000 barrels of oil per day [1] Recent Developments - The company recently lost its bid to acquire MEG Energy, which may impact its growth strategy [1] Investment Focus - The Investment Doctor emphasizes a portfolio consisting of a mix of dividend and growth stocks, targeting high-quality small-cap investment opportunities in Europe [1]

Core Viewpoint - Texas is becoming a hub for ETFs focused on companies based in the state, driven by favorable business conditions and tax incentives [2][4]. Group 1: ETF Developments - Three issuers have launched or filed for Texas-focused ETFs, including Horizon Kinetics and iShares, with funds designed to invest primarily in Texas-based securities [2]. - The iShares Texas Equity ETF (TEXN) launched in June and is currently down 1.8%, while the Texas Capital Texas Equity Index ETF (TXS) is up 9% year to date [7]. - The Texas Capital's small cap equity index fund (TXSS) is down 3% year to date [7]. Group 2: Business Environment - Texas has no state income taxes for individuals or corporations, and its business laws are generally favorable, contributing to a conducive environment for companies [4]. - The state boasts more Tier 1 research universities than any other state, providing a strong talent pipeline for businesses [4]. - The cost of living in Texas is significantly lower compared to states like New York and California, attracting both companies and individuals [4]. Group 3: Economic Trends - The Texas economy is heavily reliant on oil production, which is currently experiencing slowing growth, posing potential risks for Texas-focused funds [4]. - The New York Stock Exchange launched the NYSE Texas, aimed at companies in the southwestern US, and the Texas Stock Exchange (TXSE) is set to launch next year, indicating a growing interest in Texas-based investments [5].

Political Landscape - South Sudan's President dismissed Vice President Benjamin Bol Mel [1] - Benjamin Bol Mel was considered a potential future leader [1] Industry Implication (Oil) - The dismissed Vice President was seen as a potential future leader of the oil-producing nation [1]