Written by Gary
US Treasury yields stabilize after Good Friday selloff (SPY +0.7%). Biggest premarket movers: Tesla, GameStop, Roblox.
Here is the current market situation from CNN Money | |
 | European markets are mixed. The DAX is higher by 0.06%, while the CAC 40 is leading the FTSE 100 lower. They are down 0.43% and 0.07% respectively. |
What Is Moving the Markets
| Here are the headlines moving the markets. | |
 | The Future is Electric: Why EV Stocks Could Continue To Soar In 2021While the EV boom has been growing for years, 2021 could be the year electric starts to take over everything. And it could happen much sooner than most people realize, as some of the biggest names are already hopping on board. Amazon has already started making deliveries with electric vans in Los Angeles, as theyve agreed to purchase 100,000 vans from EV startup, Rivian. The United States Postal Service just signed a 10-year, multi-billion dollar contract with Oshkosh Defense to produce thousands of electric mail trucks. And United Airlines |
| Forget OPEC Production Cuts, Its Exports That MatterOil prices went on a rollercoaster ride this week ahead of the April OPEC+ meeting to discuss how production control is going and what their next steps would be over the next few months. According to the latest reports, Saudi Arabia has said it may start relaxing its voluntary 1-million-bpd cuts, starting with 250,000 bpd in May and June each, and then easing further. The cartel as a whole will implement a production cut easing of 350,000 bpd in May and June, and another 400,000 bpd in July, according to sources. The figures naturally sparked increased |
| Worlds Largest Lithium Producer: Get Ready For A Mega-RallySeveral months ago, Chiles second-largest lithium producer, Albemarle Corp. (NYSE:ALB), warned that global supplies of lithium were on course for a major shortfall in a few years time if prices fail to reflect the costs of funding massiveexpansions amid theEV boom. Specifically, ALB highlighted the chasm between discount-hunting EV manufacturers and lithium producers who were unable to meet growing demand at persistently low prices. But maybe Eric Norris, operations manager for Albemarles lithium business, rushed |
| U.S. Oil Production Is About To ClimbOver the past quarter, U.S. oil producers have turned much more optimistic about oil prices and demand and have already increased drilling activity from last years trough. Crude oil production has stabilized at around 11.1 million barrels per day (bpd) in December 2020 and January 2021, while current oil prices at over $60 per barrel WTI and rising numbers of oil-directed rigs point to monthly rises in output later this year. Considering that there is a lag of several months before drilling activity begins to reflect higher oil |
| Russia Is Being Left Behind In The Energy TransitionWhen it comes to climate change and the need to update and innovate in the face of changing weather patterns, Russian President Vladmir Putins strategy is simple: deny, deny, deny. While other fossil-fuel dependent economies scramble to diversify or race to build up clean energy infrastructure in a bid to put themselves at the forefront of the coming renewable revolution, Russia has taken the opposite approach: the worlds largest nation is sitting tight and waiting to be the last man standing in a shrinking fossil fuels market. While |
| This Tiny Country Could Become Europes Newest Oil ProducerIt is rather rare to see enthusiasm for completely new exploration projects in Europe. The overwhelming majority of OECD countries are either in terminal decline or are looking into ways how to ban exploration altogether. The less-appraised parts of Eastern Europe might still have some potential yet in the absence of oil majors such endeavors risk remaining a lifelong pipe dream. Still, the appearance of a new European frontier can rekindle upstream hopes (even if for a short period of time). Europes latest addition to the list of nations |
| 5 things to know before the stock market opens MondayDow futures rose over 200 points Monday after Friday’s blowout jobs report. |
| England to offer everyone 2 free rapid coronavirus tests each weekEveryone in England will be able to receive two Covid tests for free every week as the U.K. government doubles down on its efforts to reopen the economy |
| AstraZeneca Covid vaccine will be Thailand’s ‘principal’ shot, says health ministerOver 150,000 people in Thailand have received the AstraZeneca vaccine and the percentage of people with side effects is “very low,” said Anutin Charnvirakul. |
| South Asia faces a ‘wake up’ call as it trails the world in closing the gender gapSouth Asia faces “wake up moment” as it trails the world in its efforts to address gender equality. |
| ‘Godzilla vs. Kong’ tops the pandemic box office with $32.2 million in domestic opening weekendWarner Bros. and Legendary’s “Godzilla vs. Kong” tallied a pandemic-best opening over the weekend, securing $32.2 million over Friday, Saturday and Sunday. |
| Carl Icahn names former GE executive Kekedjian to lead Icahn Enterprises, WSJ reportsCarl Icahn has named the former General Electric executive, Aris Kekedjian, to take the helm at his namesake investment firm. |
| Beaches top dream vacation wish lists for Americans as travel takes offBeaches top the list of dream destinations as Americans start to book long-delayed vacations, according to online global accommodations platform Trivago. |
| What’s behind the boom in iconic boomer musicians selling their songsPaul Simon is latest icon to sell his songs, joining Boy Dylan, Neil Young and Stevie Nicks. For acquirers, it’s a boom market. For musicians, estate-planning. |
| Covid vaccinations hit another record, average now above 3 million dailyThe Centers for Disease Control and Prevention on Saturday reported 4.1 million new Covid vaccine doses were administered. |
| GM unveils electric Hummer SUV topping $110,000The 2024 GMC Hummer EV SUV debuted during an ad narrated by NBA star LeBron James that aired during the NCAA’s Final Four. |
| U.S. companies face boycott threats, mounting pressure to take sides in America’s voting rights battleU.S. corporations are facing pressure to oppose Republican election laws in Georgia and Texas that critics say disproportionately harm voters of color. |
| Matthew McConaughey: Lessons for a successful life in post-Covid realityMcConaughey tells CNBC there are fundamental life lessons from the Covid year we must accept in order to succeed in building a better, post-pandemic world. |
| MLB pulls 2021 All-Star Game out of Atlanta due to Georgia’s new restrictive voting lawMLB’s decision follows an election bill signed on Wednesday by Georgia Gov. Brian Kemp, which opponents say disproportionately disenfranchises people of color. |
| Survey Of Retail Investors Shows The Blind Lead The BlindSurvey Of Retail Investors Shows The Blind Lead The Blind Authored by Lance Roberts via RealInvestmentAdvice.com, In retail investing, do the œblind lead the blind?  Such was a question I asked recently about young investors who are œLong Confidence And Short Experience.  However, a recent survey by MagnifyMoney dug much deeper into the subject. Our previous article’s gist is that throughout history, markets have a way of separating investors from their money. Such is the reason every great investor in history has one rule in common: œDon’t lose money.  The reason, of course, is that if you lose your capital, you are œout of the game. As I noted, the market’s current speculative behavior is not uncommon throughout history.
Today, more individuals are searching œgoogle  for how to œtrade stocks  than at any point in history. (If data was available back to 1999, I am sure it would be similar.) |
| Futures Ramp To Record High In Aftermath Of Blockbuster Jobs; Tesla SoarsFutures Ramp To Record High In Aftermath Of Blockbuster Jobs; Tesla Soars S&P futures surged and most Asian stocks climbed (Europe remains closed for Easter holiday) as investors digested Friday’s unexpectedly strong jobs report which showed the strongest jobs growth in seven months and could mark the beginning of the best annual economic growth in nearly four decades. Bond yields rose modestly after Friday’s spike, while the dollar and gold were both unchanged. At 730am, Dow E-minis were up 226 points, or 0.68%, S&P 500 E-minis were up 23 points, or 0.57% and Nasdaq 100 E-minis were up 59.75 points, or 0.45%.
Futures tracking the small-cap, domestically focused Russell 2000 jumped about 1.5% as Friday’s report showed U.S. nonfarm payrolls surged by 916,000 jobs in March, well above 647,000 forecast by a Reuters poll of economists. Treasuries pulled back from a selloff last week, with the benchmark 10-year yield steadying around 1.71%. The pound appreciated to a two-week high against the dollar as Prime Minister Boris Johnson pushed ahead with plans to reopen … |
| GME Shares Plunge As Company Moves To Sell 3.5M New SharesGME Shares Plunge As Company Moves To Sell 3.5M New Shares More than 2 months have passed since Robinhood shut off trading in Gamestop while the firm’s shares soared past the $400 mark, marking a historic confrontation between an army of GME-hodling “apes” and hedge funds like Melvin Capital, not to mention the mighty hedge fund-market maker Citadel, that would cement GME’s status as a favorite of the “Wall Street Bets” retail-trading army. But for the first time since the intense retail interest made GME one of the most closely watched tickers on Wall Street, GameStop announced Monday morning that it would issue up to 3.5M new shares in an at-the-money offering. The proceeds will help GME accelerate its pivot to digital, the company said in a prospectus filed with the SEC. The news isn’t exactly a surprise: some feared GME might announce a share offering during its earnings report last month, a report that, let’s remember, triggered a selloff in GME shares as the company offered few details about its Ryan Cohen-led turnaround strategy, disappointing investors.
Even though GME bulls have been practically begging the company to offer more shares (an indication that it’s serious about its much-hyped “pivot”), GME slumped 10% premarket as investors pr … |
| “Cars Are 2021’s Toilet Paper” – US Automakers Report Blowout First Quarter As EV Sales Soar“Cars Are 2021’s Toilet Paper” – US Automakers Report Blowout First Quarter As EV Sales Soar The major automakers look to finally be back. And this time around, they’re selling EVs, too. What’s selling? “Everything,” said one Ford dealer.
GM said its U.S. retail deliveries were up 19% in Q1, the company’s first number reported against pandemic-impacted comps. The automaker sold 642,250 vehicles in the U.S. in the first quarter of 2021, according to Bloomberg. While retail sales were up 19%, fleet sales were down 35% The automaker said its truck and full size SUV plants are currently at full capacity and that it’s seeking to recover lost car and crossover production in the second half of 2021. GM also said it was dealing with the semiconductor shortage by building some models without certain components, stating in its press release: “GM is building some vehicles without certain modules when necessary. They will be completed as soon as more semiconductors become available, which will help GM quickly meet strong expected cus … |
| Penguin Random House keeps furlough cash despite strong salesLike other publishers, it has seen demand for books surge during lockdown. |
| Boohoo: Karen Millen skirt had Oasis label covered in penJoanna Sikora said a skirt she bought from Karen Millen had an Oasis label covered in marker pen. |
| LG scraps its smartphone business as losses mountThe South Korean electronics giant said the mobile phone market had become “incredibly competitive”. |
| Strong product pipeline makes analysts bullish on this largecap pharma stockDRL continues to generate free cash flows (FCFs) due to strongholds in some legacy drugs. Its lower valuation compared to its peers and strong balance sheet, are the other factors that have made the company a favourite of analysts. |
| Adani’s entry into copper mining goes against group’s recent strategyGautam Adani took a leaf out of Reliance Industries’ playbook, as he shifted the focus of the conglomerate away from the volatile business of commodity trading and coal. |
| Rising inflationary pressure in US may trigger capital exit from EMs, says govtUS bonds yields saw a major spike during the March quarter, as investors assessed the impact of accelerated vaccinations in the country. |
| Metals Stocks: Gold prices under pressure as stocks aim higher after EasterGold futures trade slightly lower Monday after Easter, with a rise in yields and U.S. stocks perhaps undercutting bullish appetite for the haven metal after a report on Good Friday, when markets were mostly closed, showed a seasonally adjusted 916,000 jobs added in March, marking the best gain since August. |
| Bond Report: U.S. Treasury yields stabiize after Good Friday selloffU.S. Treasury yields are on stable footing on early Monday, following the March jobs report which weighed on prices for government paper during the Good Friday holiday. |
| The Ratings Game: Smoothies and salads: Kroger says these 4 items account for 28% of its produce salesKroger’s investor day included a focus on fresh and digital for business growth |
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