Written by Gary
PPI Panic Sparks Big-Tech Bid, Small Caps Skid, Crypto Crumble (SPY +0.3%). Uncertainty is back on Main Street as delta variant rattles reopening plans.
The Market in Perspective
| Here are the headlines moving the markets. | |
 | Oil Could Save Argentinas Struggling EconomyThe pandemic, social unrest, and substantial fiscal pressures in Buenos Aires are all weighing heavily on Argentinas petroleum industry and the burgeoning oil boom underway in the Vaca Muerta shale play. Those factors along with general concerns over Peronist President Alberto Fernandezs management of the economy and hydrocarbon sector sparked considerable concern among energy industry participants. Fernandez assumed the top office in Latin Americas third-largest economy in December after beating business-friendly center-right |
| Ugandas Oil Boom Is Only Just BeginningUganda is set to be a key focus of African Energy Week (AEW) in Cape Town this November, as its flourishing oil industry looks set to boom in the coming years. Ugandas government has been working hard to encourage more foreign investment recently as the country aims to develop its oil and gas industry significantly over the next decade. AEW 2021 has placed Uganda as a top priority in Cape Town. The countrys significant resources, political will, and active local business sector will position the country as a regional |
| Why Are Environmentalists Angry About Bidens Infrastructure Bill?This week the United Nations and the Intergovernmental Panel on Climate Change (IPCC), the worlds leading authority on global warming, released a devastating report summing up the current state of climate change, projections for the future, and the terrifyingly short timeline and the huge list of transformative imperatives needed to avoid the very worst impacts of a heating planet. U.N. Secretary-General Antnio Guterres called the report a “code red for humanity,” before going on to say that the report must sound a death knell |
| Iran Falls Drastically Short Of Renewable Energy TargetIran has met just one-fifth of its renewable capacity installation target for the five-year period between 2016 and 2021, also because the U.S. sanctions imposed in 2018 significantly slowed down clean energy projects, Tehran Times reports. Data from the International Energy Agency (IEA)showsthat as of 2019, most of Irans electricity generation came from natural gas, followed by oil, with hydropower a distant third, and nuclear powergenerated by the only nuclear power plant in the country, Bushehran even more distant |
| Japans Overambitious LNG Targets Could Transform The IndustryJapans recent revision to its Strategic Energy Plan (SEP) lowers the targeted share of liquefied natural gas (LNG) in the countrys power generation mix in 2030 to 20% from 27% previously, as a measure to cut emissions. A Rystad Energy analysis concludes that Japans targets are too ambitious to meet and that the changes the new plan will bring will mostly be in the structure of commodities trading. Before Japan outlined its sixth SEP, Rystad Energy already considered the earlier 27% target to be overambitious, as we expect the |
| IEA Warns Delta Variant Will Slow Down Oil Demand Growth In H2New mobility restrictions in Asia to fight the Delta variant are set to slow global oil demand growth in the second half of 2021, the International Energy Agency (IEA) said on Thursday, although it left its full-year demand growth estimates largely unchanged. The IEA sees global oil demand growth rising by 5.3 million bpd to an average of 96.2 million bpd in 2021 and by another 3.2 million bpd in 2022, the agency said in its closely-watched Oil Market Report published on Thursday. Growth for the second half of 2021 has been downgraded more |
| One level in Airbnb stock could be next breakout point once earnings come out, Miller Tabak saysAirbnb is set to report earnings after the bell in a release that will give insight into how the coronavirus delta variant spread has impacted travel demand. |
| CDC panel prepares to vote on Covid vaccine booster shots for vulnerable AmericansA key CDC advisory group is preparing to vote Friday on distributing Covid-19 vaccine booster shots to Americans with weakened immune systems. |
| Here’s why lump-sum investing is a better option than dollar-cost averagingIf you’re debating between investing a large sum immediately or at set intervals, be aware that one strategy tends to outperform the other. |
| Sony’s ‘Venom: Let There Be Carnage’ delayed until October due to delta Covid variantSony delayed the release of “Venom: Let There Be Carnage” until October due to the surge in coronavirus cases caused by the new delta variant. |
| Foot Locker vs. Kohl’s: Two traders pick favorites after stocks get analyst loveThe technical setup in Kohl’s could take the stock back to its old highs, says Inside Edge Capital Management founder Todd Gordon. |
| Bill Gates pledges $1.5 billion for climate change projects if Congress passes infrastructure billGates’s fund, run by his firm Breakthrough Energy, would spend the money over three years on initiatives to lower greenhouse gas emissions. |
| CDC says over 90% of U.S. counties now meet its Covid guidelines for masks indoorsThe CDC recorded 132,384 new Covid cases Wednesday, reaching a seven-day average of about 113,000 cases per day, almost 24% higher than the prior week. |
| Dr. Gottlieb says offices that mandate employees be vaccinated don’t need more Covid precautionsDr. Scott Gottlieb told CNBC that offices that already mandate Covid vaccines for employees do not need more precautions against the virus. |
| How to improve LinkedIn job postings amid the tightest labor market in historyWith businesses battling one of the tightest labor markets in recent memory, a creative approach on LinkedIn could help them stand out and attract job seekers. |
| Production snags cause Ford to delay deliveries of Bronco SUV and Mustang Mach-EThe delays are due to a roof issue for the Bronco SUV and a shortage of semiconductor chips for the Mustang Mach-E crossover. |
| Adidas strikes deal to sell off struggling Reebok to Authentic Brands GroupThe retail conglomerate has bought other struggling brands, such as Brooks Brothers, Aeropostale and Forever 21. |
| U.S. health department mandates Covid vaccine shots for its 25,000 employeesThe vaccine requirement from HHS comes just days after the Pentagon issued mandated the shots or all service members to get immunized. |
| Uncertainty is back on Main Street as delta variant rattles reopening plansSmall businesses on Main Streets across the U.S., from restaurants to bars, gyms and salons, were preparing for a full economic reopening. Uncertainty is back. |
| PPI Panic Sparks Big-Tech Bid, Small Caps Skid, Crypto CrumblePPI Panic Sparks Big-Tech Bid, Small Caps Skid, Crypto Crumble PPI’s record YoY surge pissed all over CPI’s “transitory” narrative-confirming fireworks and things reversed yesterday’s moves… Another day, another chaotic opening battle of the algos between Small Caps (Russell 2000) and Nasdaq…
Growth outperformed Value today, but Value is the week’s winner so far (with today’s Growth ramp getting back to even on the week)… |
| The Biden Inflation Tax, Made Clear In One ChartThe Biden Inflation Tax, Made Clear In One Chart Submitted by Andy Puzder, the former CEO of CKE Restaurants, a board member of the Job Creators Network, a senior fellow at Pepperdine University’s School of Public Policy, and the author of œThe Capitalist Comeback: The Trump Boom and the Left’s Plot to Stop It. Via RealClearPolitics. What is all this œBiden inflation tax talk really about? What is the actual effect of inflation on the lives of real people? Well, below is a chart that compares yearly wage and inflation rates for each month from 2017 through July of this year using Bureau of Labor Statistics data. Wage rates are in blue and inflation (as measured by the consumer price index) is in red. When blue is on top, as it was during the entire Trump administration, workers’ wages are beating inflation and their standards of living are improving. When red is on top, they’re not. |
| “Wakeup Call”: Pfizer Vax Only 42% Effective Against Infection In July“Wakeup Call”: Pfizer Vax Only 42% Effective Against Infection In July This week, Dr. Fauci confirmed that “at some time in the future” everyone will likely need a booster shot for the Covid-19 vaccine due to “fading efficacy.”
Now, Axios reports that a new preprint study which has ‘already grabbed the attention of top Biden administration officials’ over the vaccines’ effectiveness against new variants, with Pfizer’s jab being of particular concern.
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| Haters Gonna Hate: What Volatility Charts Tell Us About The Next Big SpikeHaters Gonna Hate: What Volatility Charts Tell Us About The Next Big Spike Via TheSwarmBlog.com, We live in fascinating times. Today, we have a unique opportunity to observe one of the biggest speculative bubbles ever, and to understand how financial markets evolve towards critical points.
While Western central banks have lost control in March 2020, flooding the system with absurd amounts of liquidity, a scary number of participants are now convinced that monetary illusion will make them rich. Unfortunately, historical analysis of capital markets shows us that the exact opposite is likely to happen. But no one really cares about empirical evidence. People are even becoming more aggressive ” especially on social media “, whenever someone tries to warn of an incoming tail risk event. The question is, why? If people are so c … |
| UK inhaler firm Vectura backs £1bn bid by Marlboro-makerThe bid by the maker of Marlboro cigarettes trumps a rival offer by US private equity firm Carlyle. |
| KFC suffers supply shortage for food and packagingThe fast food chain has warned customers menus will be missing items as a result of the supply problems. |
| Pret a Manger makes staff pay cuts permanentThe firm had said unpaid breaks would be temporary but trade remains “significantly below” pre-Covid levels. |
| Why India’s largest fund house just raised red flag over stocks & IPOsThe asset manager, which manages assets worth more than Rs 5 lakh crore, is concerned over the prospects of returns from the Indian equities going ahead, because of the euphoria on display in the primary market and among retail investors. |
| Tata Steel Q1 results: Co reports consolidated PAT at Rs 9,768 cr, beats estimateThe country’s largest steelmaker reported a 109.5 per cent year-on-year growth in consolidated total revenue from operations to Rs. 53,371.8 crore for the reported quarter, which was slightly above analysts’ expectations. |
| Banks expect biggest pick-up in loan demand from retail sector, mfg, services: NomuraThe Covid-19 pandemic’s second wave, which struck India in March, wreaked the most damage on loan demand from the services and retail sectors, Nomura Global Markets Research said. |
| 07 August 2021 New York Fed Weekly Economic Index (WEI): Index DeclinesWritten by Steven Hansen The New York Fed’s Weekly Leading Index (WLI) declined this past week. This index’s trend is worsening based on the 13-week rolling average.
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| : A farewell to card swipes: Mastercard to start phasing out magnetic stripes in 2024The practice of swiping could soon be limited to thieves and online daters as Mastercard Inc. prepares a phaseout of the magnetic stripes that enable people to swipe their credit and debit cards. |
| : Rand Paul reveals his wife invested in remdesivir parent company Gilead Sciences at the start of the pandemicCongressional members are required to disclose stock trades within 45 days. Rand Paul’s reporting came 16 months late. |
| : People of color make up growing shares of drug overdose deaths in U.S. “Â here’s whyU.S. drug-overdose deaths grew by almost 30% last year to more than 93,000, according to preliminary data from the Centers for Disease Control and Prevention. |
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