29Apr2021 Midday Update: Oil Jumps To Six-Week High On Stronger Economic Outlook, WTI Slips 64.73, DOW Falls To +70 Points, Nasdaq Down -0.3%, Bitcoin Slides 53200

Here is the current market situation from CNN Money

North and South American markets finished mixed as of the most recent closing prices. The Bovespa gained 1.21%, while the IPC led the S&P 500 lower. They fell 1.14% and 0.06% respectively.

Oil Jumps To Six-Week High On Stronger Economic Outlook

Oil prices rose early on Thursday to their highest level in six weeks as a brighter outlook on the American economy and oil demand offset bearish demand prospects from the COVID crisis in India. As of 11:03 a.m. EDT on Thursday, WTI Crude was up 1.50 percent at $64.87, after touching $65 earlier in the day, and Brent Crude prices had risen 1.61 percent to cross the $68 a barrel mark, at $68.41. A weaker U.S. dollar today also added fuel to the oil rally this week, which had accelerated on Wednesday when the EIA reported a small inventory

Mexicos Private Oil Companies Could Add 700,000 Bpd By 2030

Crude oil projects involving private companies in Mexico could bring an additional 704,000 bpd to total national oil production by 2030, BNAmericas has reported, citing a commissioner from Mexicos oil and gas regulator, CNH. This year, the output from projects involving private companies is seen at 264,000 bpd. This means this output is set to grow by some 18 percent annually, according to commissioner Hector Moreira. Whats more, more than half of that additional oil production in 2030 will come from projects that are exclusively

IEA: Electric Vehicle Sales Are Soaring Globally

Worldwide sales of electric vehicles (EVs) jumped by 41 percent last year while the total global car sales fell in the pandemic-related downturn, the International Energy Agency (IEA) said on Thursday, expecting a further surge in EV sales, especially if governments encourage higher adoption with strengthened policies. Last year, some 3 million electric cars were sold worldwide, up by 41 percent year over year and accounting for 4.6 percent of all global car sales, the IEAs Global Electric Vehicle Outlook 2021 showed today. As of the end

Senate Reinstates Methane Emission Rules For Oil, Gas Industry

The U.S. Senate approved yesterday a return of methane emission regulation from the Obama era that was rolled back during Trump’s administration. The regulation, called Oil and Natural Gas New Source Performance Standards, was implemented in 2012 and 2016 and targeted methane leaks from new oil and gas wells and pipelines, Reuters reports. “This is the first of many important steps the Senate will take,” said Senate majority leader Chuck Schumer, who was among the Senators who introduced the resolution for the reinstatement of the methane rules.

India COVID Crisis Could Slow Global Oil Demand Rebound

Indias grim record-setting COVID wave shows the market that the expected rebound in global oil demand this year may not be a straight line up. The worlds third-largest oil importer has seen fuel demand decline in recent weeks as record-high new coronavirus infections prompt lockdowns and curfews in many states in the country of 1.3 billion residents, limiting mobility and slowing business activity. Indias demand for diesel, gasoline, and jet fuel is expected to further decline in the coming weeks, with no sign that the health

Three Things That Will Drive Oil Prices In May

The Energy Sector (NYSEARCA:XLE) has taken the lead in the S&P midday sector standings on Wednesday trading, jumping 3.5% as OPEC+ appears ready to stick with earlier plans to slightly increase oil production from May 1. The OPEC technical committee has issued a bullish oil demand forecast, although a hawkish tone by the Fed could derail the recent oil price gains. Meanwhile, the Federal Open Market Committee (FOMC) meeting is scheduled to take place on 27-28 April 2021, with the committee set to announce any changes to its monetary policy

Marlboro parent Altria revenue falls short as cigarette shipments decline, buys rest of On brand

Altria’s first-quarter earnings declined as revenue fell short of estimates and cigarette shipments continue to decline.

McDonald’s revenue tops pre-pandemic levels, fueled by the strong U.S. recovery

McDonald’s beat Wall Street’s estimates for its quarterly earnings as net sales topped pre-pandemic levels.

Covid threat for Europe ‘remains present,’ WHO says despite falling infections

In Europe, the U.K. is steadily lifting its lockdown and its vaccination rollout continues at pace.

Two takes on stimulus: Domino’s says it’s riding ‘the wave,’ McDonald’s says growth ‘way beyond checks’

Domino’s Pizza and McDonald’s both reported that government stimulus checks boosted their first-quarter results.

Stocks making the biggest moves midday: Facebook, Ford, eBay and more

These are the stocks posting the largest moves in midday trading.

Turkey goes into its first full lockdown as a third Covid wave surges

Residents fear the economic impact of the lockdown on a population already battered by high inflation, rising unemployment and a dramatically weakened currency.

Tyson Fury calls out UFC’s Francis Ngannou; Derek Chisora backed by Michael ‘Venom’ Page

Tyson Fury has exchanged challenges with Francis Ngannou, the UFC’s new heavyweight champion.

Here’s how Emirates can bounce back from Covid-19

In November, Emirates Group announced half-year net losses of $3.8 billion.

FDA to propose ban on menthol-flavored cigarettes, with industry likely to challenge

The Food and Drug Administration announced Thursday that it will propose a ban on menthol-flavored cigarettes in the United States.

U.S. vaccination pace continues to slide from peak levels as Covid case counts decline in most states

The rate of daily Covid vaccine shots in the U.S. is on the decline, but coronavirus cases are also dropping in most states.

Jeff Bezos’ Blue Origin will soon begin selling tickets for rides on its space tourism rocket

Jeff Bezos’ space venture Blue Origin will soon begin selling tickets for rides on its space tourism rocket called New Shepard.

Global electric vehicle numbers set to hit 145 million by end of the decade, IEA says

Major carmakers are looking to increase their electric vehicle offering.

Phoenix Suns return to NBA playoffs for the first time in a decade ” here’s what owner Sarver has learned

CNBC talked with Phoenix Suns owner Robert Sarver about what he’s learned to help the team succeed.

NASA’s Mars Helicopter To Push Limits On Fourth FlightÂ

NASA’s Mars Helicopter To Push Limits On Fourth FlightÂ

NASA’s Mars helicopter Ingenuity is ready for the boldest flight yet in the skies of Mars, according to NASA’s Jet Propulsion Laboratory in Pasadena, California.Â

Flight No. 4 is targeted for April 29. 🗔ï¸#MarsHelicopter has met or surpassed all its tech demo goals. Now, we’ll push performance. We’ll up the time airborne to 117 seconds, increase max airspeed to 3.5 m/sec (8 mph), & more than double the total range. https://t.co/4s7ujMZZmz pic.twitter.com/DxgB7e04Ni

” NASA JPL (@NASAJPL) April 29, 2021

The 4-pound helicopter will attempt its fourth flight today on the Red Planet. The flight will begin at 1012 ET, and streaming data won’t be received by NASA’s JPL until 1321 ET. We would assume shortly after, Twitter handle NASA JPL will release images and or videos of the flight.Â

“Crash Up” Possible As “Demand For Downside Rages On” Despite Gains, Nomura Warns

“Crash Up” Possible As “Demand For Downside Rages On” Despite Gains, Nomura Warns

As equity markets slowly push to higher highs, Nomura’s Charlie McElligott notes something odd is going on in the options markets.

The demand for downside rages-on, with Put Skew crazy bid (1m 89.7%ile, 3m 93.2%ile, 6m 96.5%ile!), while upside Call Skew remains Charmin-soft (1m 24.1%ile, 3m 29.8%Ile, 6m 28.9%ile)

This trend has been in place for about a month, and notably the last week or so has seen it re-engaged… As stocks have rallied, a bid for hedges has accelerated.

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Stocks Slammed As Biden Admin Says Gig-Workers Should Be Classified As Employees

Stocks Slammed As Biden Admin Says Gig-Workers Should Be Classified As Employees

‘Government knows best’ is clearly the message from the Biden administration as once again this morning, they unveil their latest target for the nanny state… gig workers.

In November, millions of Americans voting against state-imposed laws forcing gig workers to be employees (with the victory of Proposition 22 – by a convincing 58% to 42% margin).

The law passed by the state legislature in 2019 that tightened the rules for classifying workers as independent contractors. Rather than allow companies to consider those individuals as contractors not subject to the rules requiring health insurance, retirement benefits, and associated legal protections for fulltime employees, that legislation mandated that businesses that exercised particular controls over workers would have to classify them as regular employees and grant them relevant benefits.

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ACLU-Led Coalition Warns Biden Administration Against Menthol Ban, Citing “Racial Justice Implications”

ACLU-Led Coalition Warns Biden Administration Against Menthol Ban, Citing “Racial Justice Implications”

Authored by Zachary Stieber via The Epoch Times,

A coalition led by the American Civil Liberties Union is urging the Biden administration not to ban menthol cigarettes.

Such a ban would œhave serious racial justice implications and would œtrigger criminal penalties, which will disproportionately impact people of color, as well as prioritize criminalization over public health and harm reduction, the coalition wrote in a letter this week to Health Secretary Xavier Becerra and acting Food and Drug Administration Commissioner Janet Woodcock.

œA ban will also lead to unconstitutional policing and other negative interactions with local law enforcement, they added.

The White House, the Department of Health, and the Food and Drug Administration (FDA) did not respond to requests for comment.

Ryanair told to compensate passengers over strike cancellations

The airline had said strike actions were “extraordinary circumstances”, so it did not have to pay compensation.

US economy accelerates as recovery continues

The economy grew strongly in the first quarter of 2021 helped by heavy government spending on Covid aid.

BT confirms talks over the future of its sports business

The telecoms giant is in “early discussions” with a number of potential partners.

Warren Buffett poised to weigh in on how Berkshire fares post-pandemic

On Saturday, Berkshire’s chief executive officer will address shareholders via video-conference to conform with health guidelines, scrapping for a second year an arena event in Omaha, Nebraska, that typically attracted thousands of adoring fans.

Copper retreats after breaking decade-old $10,000 level

Three-month copper on the London Metal Exchange touched $10,008 a tonne before retreating 0.3% to $9,847 a tonne by 1400 GMT.

Can you generate alpha without beta? These funds promise to do exactly that

The performance of the stock market is measured by the performance of the benchmark indices.

Advance Estimate 1Q2021 GDP Is 6.4%

Written by Steven Hansen

The advance estimate for the first-quarter 2020 Real Gross Domestic Product (GDP) is a positive 6.4 %. This growth is an improvement from the previous quarter’s growth of 4.3 % if one looks at quarter-over-quarter headline growth. The year-over-year rate of growth also significantly improved and is now in expansion.

IPO Report: William Morris and UFC parent Endeavor’s stock dips below IPO issue price in trading debut

Endeavor Group Holdings Inc., the Los Angeles “based entertainment powerhouse and owner of the William Morris Agency, sports and modeling agency IMG and mixed-martial-arts outfit UFC, saw its shares jump 12% in their trading debut Thursday, before paring those gains to trade down about 2%.

Howard Gold’s No-Nonsense Investing: COVID-19 has prompted a boom in retirement savings

Balances rise and people from all generations open new accounts, fund IRAs

The Ratings Game: Why Apple’s ‘blowout’ earnings aren’t boosting its stock

Apple Inc.’s stock isn’t getting much love from investors even after the company delivered what one analyst described as “blowout” results for its March quarter.