02Jun2021 Pre-Market Commentary: Wall Street Futures Stuck At 4200 Gamma Pin As Traders Fixate On Meme Stocks, DOW Up 77 Points, Nasdaq Up 0.1%, WTI Crude Advances To 68.32, Gold At 1905, Dogecoin $0.43

Here is the current market situation from CNN Money

Rapid Energy Transition Could Doom Oil Exporting Countries

Its a tough time being in the oil and gas business. Big Oil has lately come under a plethora of attacks from all directions, ranging from uncooperative financiers and investors amidst a global shift to renewable energy to hostile governments and hardline climate activists. And although the major oil-exporting economies of the world werent necessarily in the environmental crosshairs like Big Oil was, the shift could have a devastating effect on those oil-dependent economies. In a virtual climate summit with 41 world leaders last

Why EV Stocks Are Poised To Explode This Summer

Hundreds of billions of private dollars are being poured into the EV industry and thats on top of Bidens $174 billion for subsidies and charging stations. There is no stopping the surge. General Motors (NYSE:GM) is investing $27 billion in EVs over the next five years. It used the Superbowl for its breakout. Now, its mainstreaming them as the all-American car choice. Ford (NYSE:F) is doubling its investment in EVs to $22 billion, and theyre planning to release their electric version of

Can Iceland Become The Worlds First Green Hydrogen Economy?

If there is one thing everyone knows about the tiny northern nation of Iceland, it is that it has plentiful geothermal resources. Europe’s northernmost independent state satisfies a solid portion of its energy needs with local renewable geothermal power. And these resources could now help Iceland become the world’s first fully green hydrogen economy. Geothermal, according to Iceland’s National Energy Authority, accounts for a quarter of the country’s power generation and as much as 66 percent of Iceland’s total primary energy use. Geothermal is

Iraq Plays U.S. Off Against Iran With New Crucial Gas Deal

Since the fall of Saddam Hussein in 2003, Iraq has played the main powers in the Middle East off against each other – the U.S. axis focused on Saudi Arabia (and Israel) on one side and the Sino-Russia axis focused on Iran on the other. Overall, these efforts have been broadly successful, allowing Iraq to gain hundreds of billions of dollars from the U.S. whilst also playing a key part in the extension of Irans power across the region and beyond. With the onset of the U.S.s new strategy to tie-in Arab states through a series of relationship

Exxon, Equinor Invest $8 Billion In Developing Oilfield Off Brazil

Norways Equinor and U.S. supermajor ExxonMobil have reached the final investment decision to develop the Bacalhau oilfield in Brazils prolific pre-salt area with a US$8-billion investment in phase one, the Norwegian major said on Tuesday. Equinor and Exxon hold 40 percent each in the Bacalhau oilfield, with Equinor as operator. The field was discovered by Brazilian state oil giant Petrobras in 2012, while Equinor has been operator since 2016. Under the development plan, Phase 1 will see 19 subsea wells tied back to a floating production,

Indias Oil Demand Outlook Remains A Mystery

Oil demand in India has been clouding the outlook of global crude consumption since a devastating second COVID wave resurged in the worlds third-largest oil importer three months ago. Indias unevenand now stalledrecovery has been the key source of concern about global oil demand recovery in recent months, mostly because of the unknowns about when localized lockdowns to fight the spread of the pandemic would end and lift fuel demand for transportation and economic activities. As severe and deadly as

Cyberattack on meatpacker JBS could pressure restaurant margins if not resolved quickly, analysts say

The cyberattack on JBS, the world’s largest meatpacking company, could cause pain for restaurants if the situation isn’t fully resolved quickly, analysts say.

How to trade Europe’s incoming ‘revenge spend,’ according to BlackRock

As Europe’s economy reopens, consumers have already begun a “revenge spending” spree in some areas, according to BlackRock.

AMC jumps another 20%, on pace to open at all-time high, as investors shrug off hedge fund’s stock sale

Shares of AMC Entertainment continued to surge Wednesday, rising as much as 30% in premarket trading.

AMC plans to reward retail investors with free popcorn and exclusive screenings

AMC launched a new portal on its website just for its retail investors. The site contains “special offers” and company updates just for shareholders.

5 things to know before the stock market opens Wednesday

U.S. stock futures were relatively flat after the Dow gave up most of a 300-point gain by Tuesday’s close.

U.S. begins study testing mix-and-match Covid vaccine booster shots

The trial will include about 150 adults who have been fully vaccinated with the Johnson & Johnson, Moderna or Pfizer Covid vaccines.

World economic and health leaders call for $50 billion from wealthy nations to help stop Covid pandemic

World economic and health leaders estimated that $50 billion will generate about $9 trillion in global output by 2025 by accelerating an end to the pandemic.

EU travel rules are ‘incredibly over-politicized’, Wizz Air CEO says

“I think the European Union as such has broken down completely,” József Váradi, chief executive officer of budget airline Wizz Air told CNBC.

India will likely see double-digit growth this quarter, but economists warn it’s not the full picture

India continues to battle a devastating second wave of coronavirus outbreak that began in February but accelerated in April and early May.

AMC’s ‘apes’ gave it a lifeline. Now, its CEO wants to use the meme frenzy as a springboard for growth

AMC has pivoted back to an offensive strategy on a bet that its retail investors will stick with the company long enough for it to recoup its pandemic losses.

Stocks making the biggest moves after hours: Zoom Video, Hewlett Packard Enterprise, Ambarella & more

See which stocks are posting big moves after the bell.

Biden’s proposed 39.6% top tax rate would apply at these income levels

President Biden’s proposed 39.6% top marginal income tax rate would affect single and married filers with over $452,700 and $509,300 of income, respectively.

Mudrick Capital bought 8.5 million shares of AMC, then reportedly sold them off for a profit

Mudrick Capital sold all of its stock in AMC Entertainment, according to a new report from Bloomberg News.

JBS Says “Significant Progress” After Ransomware Attack, Sets To Reopen Meat Plants WednesdayÂ

JBS Says “Significant Progress” After Ransomware Attack, Sets To Reopen Meat Plants WednesdayÂ

JBS SA, the world’s largest meat producer, released a statement in the overnight session stating “significant progress” has been made to resolve a ransomware attack that paralyzed its US operations and some plants in other countries.Â

“Our systems are coming back online, and we are not sparing any resources to fight this threat,” JBS USA CEO Andre Nogueira said in a statement.

“Given the progress, our IT professionals and plant teams have made in the last 24 hours, the vast majority of our beef, pork, poultry and prepared foods plants will be operational Wednesday”, Nogueira said. Â

The cyberattack forced the shutdown of all JBS’ US beef plants, which account for almost a quarter of American supplies.Â

“On Sunday, 30 May, JBS USA determined that it was the target of an organized cybersecurity attack, affecting some of the servers supporting its North American and Australian IT systems”, JBS said at the time.Â

JBS FacilitiesÂ

Email Shows Researcher Who Funded Wuhan Lab, Admits Manipulating Coronaviruses, Thanked Fauci For Dismissing Lab-Leak Theory

Email Shows Researcher Who Funded Wuhan Lab, Admits Manipulating Coronaviruses, Thanked Fauci For Dismissing Lab-Leak Theory

Authored by Steve Watson via Summit News,

Dr Fauci’s emails have been released via a Freedom of Information Act request, and there is some pretty interesting stuff in them, particularly one email where a researcher who funded the Wuhan Institute of Virology thanks Fauci for publicly dismissing the lab leak theory early on during the pandemic.

The email from Dr. Peter Daszak, President of the EcoHealth Alliance, a group that has extensive ties to the Wuhan lab gain of function research, sent the email to Fauci on April 18, 2020, roughly six weeks after the outbreak had taken hold.

Futures Stuck At 4200 Gamma Pin As Traders Fixate On Meme Stocks

Futures Stuck At 4200 Gamma Pin As Traders Fixate On Meme Stocks

One day after a concurrent ramp (then reversal) in stocks and the VIX prompted some confusion on trading desks, on Wednesday e-mini futs were stuck at the 4200 gamma pin…

… while European stocks rose and Asian markets fell as the tussle between economic optimism and inflation concern continues to play out in markets. Bitcoin and the dollar ticked up, oil and treasuries were mostly flat.

Th …

AMC Launches Shareholder Rewards Program After Raising Billions From Retail ‘Apes’

AMC Launches Shareholder Rewards Program After Raising Billions From Retail ‘Apes’

AMC shares continue to power higher in premarket trading Wednesday after Muldrick Capital bought, and then abruptly turned around and sold, 8.5MM shares of the company’s stock almost entirely to AMC’s army of retail bagholders (members of which proudly refer to each other as “apes” on Reddit, Facebook, Twitter and elsewhere).

Let me address the smart raising of equity capital. I believe one of the best things $AMC did in 2021 was to raise $428 million a few weeks ago, at $9.94 per share. Rather than dilution affecting AMC badly in the short term, as some feared, we greatly strengthened AMC. {1 of 5}

” Adam Aron (@CEOAdam) June 1, 2021

We are seeing some terrific opportunities to pick up important theatres from other faltering chains. This can be a real way for AMC to grow again, creating immediate value for AMC shareholders. But we will need more cash to get these theatres under lease. {2 of 5}

” Adam Aron (@CEOAdam) June 1, 2021

Wetherspoons boss denies facing shortage of EU workers

Pro-Leave boss Tim Martin says reports he wants a more “liberal” visa scheme for EU workers taken out of context.

Ex-reality TV stars’ ‘misleading’ debt ads banned

Stars from Only Way is Essex and Geordie Shore have Instagram debt adverts banned by the regulator.

Why house prices are rising so fast in a pandemic

House prices are increasing at their fastest rate for more than a decade. These graphics explain why.

The trending-trading trap you need to beware of as an alert investor

Type ‘investment tips India’ on Google, and a staggering 7.69 million search results would appear in 0.64 seconds. The typical Indian ‘go-to Google’ solution has to be nipped in the bud.

Motherson Sumi Q4 results: Consolidated PAT zooms 289% to Rs 714 cr

The company’s consolidated total revenue from operations jumped 17.6 per cent on-year to Rs 16,971.9 crore, which was slightly higher than analysts’ estimates.

Sellers vanish on Paytm counter in grey market; price projected to soar

There is a possible upside of up to 100 per cent in unlisted stock, as the company is eyeing double the valuation, compared with last fundraising, said Rajesh Singla, Founder, Planify.

Earnings Results: Zoom Video stock marches higher after earnings beat, outlook hike

Zoom Video Communications Inc. shares marched higher in the extended session Tuesday after the videoconferencing company raised its outlook for the year and topped Wall Street estimates for the quarter.

: It’s official: Amazon Prime Day is June 21-22 globally

The retail behemoth said members will get a $10 credit on Prime Day if they spend $10 on select small businesses from June 7-20.

Crypto: Dogecoin surges more than 30% and the crypto army cheers as Coinbase Pro network opens to transfers

Dogecoin soars Wednesday after crypto platform Coinbase lays the groundwork for the meme asset to soon trade on the U.S.’s largest digital-asset site.