UGA

While the relentless spread of the coronavirus drove the equity market lower on Monday, there were also signs investors are preparing for a greater possibility that Democrats will gain control of the U.S. Senate.

Three big players have long made up the majority of the $5.4 trillion U.S. exchange-traded fund industry, but their latest offerings were also-rans in a record year for new product launches.

Chinese stocks listed in the U.S., including China Telecom Corp. and Pinduoduo Inc., fell on the prospect of further sanctions that would remove more of the Asian nation’s biggest companies from American stock exchanges.

Demand for gasoline exceeding supply by ~1 mb/d will force gasoline prices much higher.COVID cut gasoline demand 40%, 9.5 mb/d to 5.5 mb/d.About 120 million barrels of oil and gasoline inventories piled up.Oil production has been permanently cut by 2.5 mb/d, 13 mb/d to 10.5 mb/day.