22Apr2019 Pre-Market Commentary: Wall Street Futures Pull Back Ahead Of Earnings, DOW Futures Down Double Digits, WTI Jumps 2.3%, Existing Home Sales Climb

Here is the current market situation from CNN Money

European markets finished mixed as of the most recent closing prices. The DAX gained 0.57% and the CAC 40 rose 0.31%. The FTSE 100 lost 0.15%.

U.S. will not reissue waivers for Iran oil imports -White House

U.S. President Donald Trump has decided not to reissue waivers in May allowing importers to buy Iranian oil without facing U.S. sanctions, the White House said in a statement on Monday.

Oil hits 2019 high on U.S. plan to tighten squeeze on Iran

Oil topped $74 a barrel on Monday, the highest since November, as the United States was set to announce a further clampdown on Iranian oil exports, tightening global supplies.

Halliburton says pricing woes bottoming out as U.S. activity rises

Halliburton Co said on Monday a pricing downturn that has plagued the oilfield services sector was bottoming out, as it reported modestly higher activity levels in North America in the first quarter from a year earlier.

Futures pull back ahead of earnings; oil stocks jump

U.S. stock index futures dipped on Monday as investors returned from their Easter break and took a cautious stance at the beginning of what is expected to be the busiest week of the first-quarter earnings season.

Ghosn lawyer requests bail after ex-Nissan chairman indicted for fourth time

Japanese prosecutors indicted Carlos Ghosn on Monday on another charge of aggravated breach of trust, a Tokyo court said, the fourth charge against the former Nissan Motor Co Ltd chairman, which his lawyers met immediately with a bail request.

Factbox: Elon Musk on Tesla’s self-driving capabilities

Tesla Inc will focus on its autonomous driving system when it hosts its investor day on Monday.

Nissan to reject new integration proposal from Renault – Nikkei

Nissan Motor Co Ltd will reject a management integration proposal from French partner Renault SA and will call for an equal capital relationship, Nikkei said on Monday, citing sources.

Bed Bath & Beyond refreshes board, co-founders step down

Bed Bath & Beyond Inc said it appointed five new independent members to its board, replacing some directors including co-founders Warren Eisenberg and Leonard Feinstein, after facing pressure from a trio of activist investors to refresh its board. Shares of the New Jersey-based company rose about 2 percent before the bell.

U.S. will fail to cut Iran oil exports to zero – ministry source to Tasnim agency

The United States will fail to cut Iranian oil exports to zero, as Iran is ready for any U.S. decision to end waivers granted to buyers of Iranian crude, the semi-official Tasnim news agency on Monday quoted an unnamed Iranian oil ministry source as saying.

Iran Threatens To Close Strait Of Hormuz If US Blocks Its Oil Exports

With oil surging to a six month high after a now confirmed report that Trump will not reissue Iranian oil export waivers after they expire on May 2, removing up to 1 million barrels from the market, Tehran has gone on the offensive and on Monday a senior Iranian military official said the Islamic Republic will close the Strait of Hormuz if it’s prevented from using it, the state-run Fars news agency reported.

Oil Surges As White House Confirms It Will End Waivers On Iranian Crude Exports

Update: In a statement effectively confirming the Washington Post’s report from last night, the White House said that President Trump has decided not to extend the 180-day waivers on Iranian oil exports when they expire early next month.

TRUMP WON’T RE-ISSUE IRAN OIL WAIVERS SET TO EXPIRE IN MAY

Meanwhile, the US, UAE and Saudi Arabia have promised to ramp up production to make up for any shortfall, as the White House reaffirms that its goal is to bring Iranian oil exports to zero.

Secretary of State Mike Pompeo is expected to offer more information when he speaks later this morning.

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Expectations that the Trump administration would extend export waivers on Iranian oil have been dashed after the Washington Post reported late Sunday that Secretary of State Mike Pompeo was preparing to announce on Monday that the US would move to end the exemptions early next month, when the initial 180-day waivers offered to eight countries are set to expire. The news sent oil prices surging in early Easter Monday trade.

Unsurprisingly, crude futures for May delivery climbed as much as 74 cents to $64.74/bbl in New York on the news the US would end the practice of allowing certain countries to import Iranian oil without facing sanctions. Meanwhile, front-month Brent futures topped $74 a barrel, their highest level since Nov. 1.

“They’re Called Christians”: Conservatives Mock Obama, Clinton For Tweets About Sri Lankan ‘Easter Worshippers’

Hillary Clinton and Barack Obama are being roundly criticized for their apparently coordinated decision not to use the word ‘Christian’ to describe the victims of the Easter Sunday bombings in Sri Lanka, which targeted three Catholic churches, among other targets. Some even speculated whether Obama’s and Clinton’s decision was intended to undermine the Christian faith in the US.

US Futures Slide, Chinese Stocks Tumble After Beijing Threatens To Pull The Kool-Aid

On Sunday, when commenting on last week’s latest Chinese politburo meeting, we said “If your bullish thesis to buy stocks in recent months has been anchored by the expectation of aggressive monetary easing by China reinforcing the narrative that “bad news is good news” for the market, you may consider selling” because, as Goldman put it simply, the “politburo meeting signaled a less dovish policy stance.”

One day later, it appears that quite a few investors did indeed consider selling, because shortly after Beijing signaled it is far less amenable to adding stimulus, and in fact is once again contemplating pushing deleveraging (as we explained in detail) the world’s best performing stock market is suddenly looking a lot more vulnerable as China’s CSI 300 Index of equities traded in Shanghai and Shenzhen sank 2.3% on Monday, its biggest loss in a month and 3rd worst drop of 2019. Property developers led the plunge, along with companies reliant on consumer discretionary spending and so-called old economy shares such as banks and industrial companies.

Tesla investigating apparent explosion of Model S in Shanghai

The video circulating on Chinese media shows the car bursting into flames, which some Twitter users identified as a first generation Model S.

Currencies: Oil-pegged currencies gain as U.S. says it will end waivers for Iranian crude imports

Currencies linked to commodity prices head higher on Monday after U.S. government says it will end waivers for countries that import Iranian oil.

The Conversation: Here’s how long you’ll live — and how much of that will be healthy years

This longevity calculator includes quality of life.