Written by Gary
Walmart is doubling down on ‘rollbacks’ as inflation pushes prices higher (SPY -0.9%). Bitcoin dips to lowest since February amid China crypto warning.
The Market in Perspective
| Here are the headlines moving the markets. | |
 | $70 Oil Could Put The Brakes On Chinas Crude Buying SpreeChinas accelerated crude oil stockpiling could be coming to an end with oil at $70 and the possibility that strategic reserves are close to capacity, suggesting that the worlds largest oil importer could slow down crude builds and crude imports. In April, China is estimated to have tapped its crude reserves, according to calculations of Reuters columnist Clyde Russell based on official data. Refiners processed more crude oil last month than the sum of its imports and domestic oil production. This suggests that China used around 280,000 |
| Shell: Nigeria Oil Operations Are Incompatible With Net-Zero PlansRoyal Dutch Shell does not see its upstream oil operations in Nigeria as compatible with its strategy to become a net-zero energy business, chief executive Ben van Beurden said at the supermajors annual general meeting on Tuesday. The balance of risks and rewards associated with our onshore portfolio is no longer compatible with our strategic ambitions, van Beurden told shareholders, as carried by Bloomberg. We cannot solve community problems in the Niger Delta, said the top executive at Shell, which has encountered |
| IEA Drops Bombshell Report On Oil And GasThe IEA made headlines today when it suggested that there should be no new oil and gas investments after 2021… If that were to happen – with a supply crunch already looming – the oil traders at OPC Markets would have a great time.Chart of the Week- U.S. residential energy consumption declined by 4% in 2020, despite people spending more time at home during the pandemic.- Relatively warmer weather reduced heating needs during winter months, offsetting the 2 percent increase in electricity sales.- Space-heating |
| EPA Orders Shutdown Of Caribbean RefineryThe U.S. Environmental Protection Agency has ordered the complete shutdown of the Limetree Bay refinery on the Caribbean island of St. Croix because of multiple improperly conducted operations, Offshore Technology reports. The Limetree Bay facility only resumed operations last month after another full shutdown, that one resulting from an unspecified operational issue. The refinery, which was idle for four years until 2016 when ArcLight Capital Partners and EIG Global Energy Partners acquired it and set bout to restart it. Initially, |
| Oil Rebounds After BBC Spooks Market With News On Nuclear DealUpdate (1245ET):Well that didn’t last long. After oil prices plunged on Iran nuclear deal optimism, they have surged back higher again now after Russian Envoy Ulyanov clarified his earlier remarks,noting that it’s “too early for a breakthrough” in the nuclear talks, noting that “unresolved issues remain.” Oil prices just plunged following headlines from Vienna that Mikhail Ulyanov, Russia’s envoy to JCPOA talks, says”important news is likely to be released by tomorrow” and “the negotiations have made major progress”,in a |
| Could This Be The Hottest Investment Sector For 2021?A $52-billion pain management market, a $14-billion antidepressant market, and a $4.5 trillion global wellness market are all coming together to make what could be a mega opportunity for a segment that few can ignore anymore That segment is psychedelics and it could be a game-changer for the mental health of our nation. The convergence of these three mega markets could well end up being bigger–and better–than cannabis. Psychedelics are emerging as a possible solution for pain management and multiple mental health issues. |
| Pelosi calls for ‘diplomatic boycott’ of 2022 China Olympics on human rights groundsActivists and lawmakers of both parties have called on President Joe Biden to bow out of the 2022 Olympics in protest. |
| U.S. House lawmakers seek Boeing, FAA records after production problemsTwo House Democrats are requesting records from Boeing and the FAA after production problems arose on the 737 Max and the 787 Dreamliner. |
| Ford reveals new electric F-150 Lightning pickup during Biden’s visit to Michigan plantThe electric F-150 Lightning resembles the automaker’s current pickup with an internal combustion engine but has unique exterior styling. |
| Cramer rips AT&T leadership over the handling of WarnerMedia and the planned dividend cutCNBC’s Jim Cramer said he “expected better” from AT&T management for its approach to WarnerMedia and its dividend payout. |
| Walmart is doubling down on ‘rollbacks’ as inflation pushes prices higherThe retail giant is doubling down on low prices as people get vaccinated and return to stores. |
| Stocks making the biggest moves midday: Walmart, Snowflake, Fisker and moreThese are the stocks posting the largest moves in midday trading. |
| Getting struck by lightning has better odds than winning the lottery. But with a $475 million jackpot, you can daydreamThe top prize ” which has been climbing since mid-February ” for Tuesday night’s drawing marks the ninth-largest in Mega Millions history. |
| CDC study finds disparities in Covid vaccine rates between rural and urban areasA CDC study found a lower percentage of adults in rural counties who received at least one shot than in urban counties, at 38.9% and 45.7%, respectively. |
| Covid cases dropping by 5% or more in nearly every U.S. state, vaccinations continue to fallCovid case counts are declining in nearly every U.S. state as nationwide levels of infections and deaths continue their downward trends. |
| Discovery adventure TV show to launch winning contestant to the space stationDiscovery announced a competitive adventure TV show that will launch the winning contestant to the International Space Station. |
| CDC says 600,000 kids ages 12 to 15 have received Covid vaccine shots in last weekThe CDC said Tuesday that 600,000 kids ages 12 to 15 have received Covid vaccine doses in less than a week since the Pfizer shot was cleared for that age group. |
| How well college graduates do financially depends on their parentsIf you’re a college graduate, whether or not your parents also have a college degree likely will affect your lifetime income and wealth. |
| Macy’s says it plans to expand into pets, hair care and gourmet food to gain new shoppersMacy’s said it has begun investing in new categories for the business ” including toys, health and wellness, pets and home decor. |
| Gold Gains As Dollar, Commodities, Crypto, & Stocks SlumpGold Gains As Dollar, Commodities, Crypto, & Stocks Slump The US cash open sparked a buying panic in stocks (after Nasdaq had given up all its overnight gains accelerating lower after the dismal housing data) and then again as 1430ET (margin call time) loomed, the broad market took a big hit. The ubiquitous dip was bought (back up to unch for Nasdaq and Small Caps) but then with about 10 mins to the close, everything fell apart…
Two relatively large sell programs hit…
Source: Bl … |
| Buchanan: Bibi & Hamas – Only Winners In Gaza WarBuchanan: Bibi & Hamas – Only Winners In Gaza War Authored by Pat Buchanan, œIsrael is Winning Battles, Hamas is Winning the War. So ran the headline in the Jerusalem Post atop an analysis of the Gaza war, which began:
Hard to disagree. Consider this New York Times commentary about Israel’s prime minister from the runner-up to the Democratic presidential nominee in the primaries of 2016 and 2020, Sen. Bernie Sanders:
Sanders’ wing of the party is moving toward the Palestinian side of the conflict.
Tweets Michigan’s Rep. Rashida Tlaib:
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| Tesla On “Autopilot” Strikes Washington Sheriff’s VehicleÂTesla On “Autopilot” Strikes Washington Sheriff’s Vehicle Everyone is focused on the Tesla Model X that reportedly killed one Chinese policeman while injuring another in a collision in the Chinese city of Taizhou, in Zhejiang province on Monday. Meanwhile, another Tesla accident was on the opposite side of the world, in Washington state, that struck a police car while operating on “autopilot.” NBC News reports the 2015 Tesla Model S on “autopilot” plowed into the driver’s side of a Snohomish County Sheriff’s Office vehicle on Saturday evening around 6:40 p.m. in Snohomish County, north of Seattle. Luckily, the deputy nor driver of the Tesla was seriously hurt.
The driver of the Tesla told Snohomish County Sheriff’s Office that he assumed the vehicle would move over on its own before hitting the parked police cruiser on the side of the road. … |
| Bitcoin Used In A Crime… Yada Yada Yada… Bitcoin BadBitcoin Used In A Crime… Yada Yada Yada… Bitcoin Bad Authored by Omid Malekan, Here we go again.
The Colonial Pipeline attack involved a ransom paid in crypto, so the usual suspects are on the attack. If you are an investor or business leader who has contemplated adopting bitcoin, you have already been bombarded with negative news headlines and internal emails telling you why this latest development is important. To save you the trouble of having to read them, I’ve prepared a summary:
Needless to say, their analysis is correct. A crime has been committed, and the crooks used crypto. I’m sure the articles you’ve been sent say a lot more, but the rest is likely filler. Cry … |
| Don’t holiday in amber list countries – Boris JohnsonBoris Johnson says not to go but some travel firms are refusing refunds for those destinations. |
| Superyacht sales surge as wealthy seek Covid escapeThe charity Oxfam says the millions spent on superyachts could instead vaccinate entire countries. |
| Holiday firms refuse refunds for amber destinationsTravellers who booked ahead for 2021 or had holidays moved are finding they cannot claim money back. |
| Bitcoin dips to lowest since February amid China crypto warningThe largest cryptocurrency fell as much as 5.1% to $42,547 in New York, continuing a week-long slide sparked by Elon Musk’s back-and-forth comments on Tesla Inc.’s holdings of the coin. |
| Government to sell 1.95% stake in Axis Bank to raise Rs 4,000 crThe government is selling 3.5 crore shares or 1.21% stake in the company as a base offer with a greenshoe option of 2.21 crore shares at a floor price of Rs 680 per share. |
| Fidelity launches brokerage account aimed at 13- to 17-year-oldsThe youth accounts are available to teens whose parents or guardians – who can monitor the accounts – are Fidelity customers. |
| : Banks are offering credit cards to people without credit scores ” should you get one?‘Most credit card issuers are still considerably more cautious now than they were pre-COVID.’ |
| : French TV merger shows European industry struggling for streamingTF1 and M6, France’s two largest private free-to-air TV operators, will merge their media assets in a new entity, in a bid to create œa French streaming champion. |
| : Cannabinoid company backed by rapper Snoop Dogg headed for London IPOOxford Cannabinoid Technologies, the pharmaceutical company developing cannabinoid-based prescription medicines, has announced plans to list on the London Stock Exchange. |
Summary of Economic Releases this Week
Earnings Summary for Today
leading Stock Positions
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