Written by Gary
US stock futures moved sharply higher this morning (SPY +1.2%). Positive factors include a buy-the-dip mindset, new monthly inflows, and encouraging vaccine and stimulus news.
Here is the current market situation from CNN Money | |
European markets are mixed today. The FTSE 100 is up 1.37% while the DAX gains 0.98%. The CAC 40 is off 1.39%. |
What Is Moving the Markets
Here are the headlines moving the markets. | |
Why Big Oil Expects Record Cash Flow In 2021The worlds largest oil companies are set for a cash flow bonanza this year, probably at record levels, as massive cost cuts in the wake of the 2020 oil price and oil demand collapse have significantly lowered the corporate cash flow breakevens for many firms. After posting record losses in 2020, a year which company executives described as one with the most challenging market conditions, Big Oil is looking at 2021 with increased optimism, mostly because oil prices have rallied in recent weeks. Moreover, the ultra-conservative | |
The Real Reason Elon Musk Could Become The World’s First TrillionaireElon Musk isnt the front runner to become the worlds first trillionaire simply because hes iconic, genius, or ambitious.He might have tens of millions of followers on social media and the biggest car company in the world.He might be worth just slightly more or less than Amazons Jeff Bezos on any given day. He might be madly driven to take us to Mars.But hes most likely to become the worlds first trillionaire for a different reason because he is a major figure in our fight | |
This Energy Sector Will See The Next Big M&A WaveEnvironmental, social, and governance investment is inarguably one of the hottest trends in financial markets. Investors are pressuring companies into reducing their carbon footprint, and asset managers and banks are devising ways to maximize this pressure to drive emissions down. The ESG trend spans all industries, but one place where its impact is particularly visible is power utilities. Renewable energy is in, fossil fuels are out: this seems to be the dominant trend these days. It is likely to, at the very least, remain stable over the coming | |
Brazils Oil Industry Shakeup Could Be Devastating For Its EconomyFollowing the ousting of the CEO of Brazils state-controlled oil group Petrobras by President Bolsonaro earlier this week, experts fear what greater intervention might do to the countrys oil industry. The removal of CEO, Roberto Castello Blanco, from his position at the head of Petrobras came following a conflict with the President over energy price hikes. Fears that price increases in diesel would cause protests led Bolsonaro to oppose a Petrobras price hike under Castello Blanco. President Bolsonaro quickly replaced | |
Can President Biden Avoid A Critical Metals Crisis?President Joe Bidens latest executive order seeks to secure a variety of important supply chains. For example, in one higher-profile case, General Motors recently announced it would extend downtimes at several plants as a result of a semiconductor shortage. As weve noted in our Rare Earths Monthly Metals Index (MMI) series, rare earths supply has long been a point of concern for the US, particularly the Pentagon. (Recently, MetalMiners Stuart Burns delved into Chinas overwhelming control of the rare earths processing | |
Is A Deregulated Power Grid Good For Texans?Unless youve been living under a rock for the last few weeks, youve most likely been inundated with all kinds of new stories and finger-pointing social media diatribes about Texas shocking grid failure as temperatures dropped below freezing across the Lone Star State earlier this month. And, adding insult to injury, after coping with rolling blackouts and a plague of burst pipes during the harsh winter storm, some residents were hit with power bills big enough to bankrupt them–in some cases over $15,000. As these disastrous | |
Op-ed: Here’s the key decision that paved the way for development of Covid vaccinesDevelopment of the vaccines has largely been due to a singular decision made after World War II, writes Walter Isaacson. | |
Oatly enters Starbucks cafes nationwide as it prepares for a big yearStarbucks cafes nationwide will carry Oatly’s nondairy substitute starting Tuesday. | |
At-home fitness company Tonal to open shops within 40 Nordstrom storesNordstrom has struck a deal with Tonal, a company that sells a wall-mounted workout station for $2,995. | |
GM’s electric vehicle plans begin to take shape with new lower-priced Chevy BoltsThe all-electric Bolts ” a redesigned hatchback and a new crossover ” will both start at under $34,000, while the GMC Hummer later this year will cost $113,000. | |
CDC director signs off on J&J’s single-shot Covid vaccine, clearing way for distribution to beginCDC Director Dr. Rochelle Walensky said Friday that she would “stand by to review” the ACIP’s recommendation and be “ready to sign.” | |
Satellite data company Spire goes public via SPAC, adding to a growing list of public space playsSmall satellite builder and data specialist Spire Global is planning to go public through a SPAC. | |
4 charts show how the UK’s coronavirus vaccine rollout is starting to workThe first real-world data from the U.K.’s inoculation program has given an insight into how effective vaccines have been against Covid-19. | |
UK hunts for missing person infected with Covid variant first detected in BrazilU.K. health officials are anxious to trace one of six individuals infected with a more contagious variant of the coronavirus, initially identified in Brazil. | |
Soccer, basketball and football are the future of sports for Generation Alpha, survey findsMorning Consult’s 2021 survey suggests that Generation Alpha are favoring basketball, football, and soccer, while baseball remains low. | |
People have spent more than $230 million buying and trading digital collectibles of NBA highlightsNBA Top Shots is like trading cards, but with a video highlight instead of a photo. People have spent more than $230 million buying and trading NBA highlights. | |
Fauci says all three Covid vaccines highly effective, urges people to take shot most availableThe FDA approved Johnson & Johnson’s vaccine on Saturday, giving the U.S. a third tool to fight the pandemic following vaccines from Moderna and Pfizer. | |
United Airlines starts offering bus service straight to Colorado ski slopes from DenverThe service starts March 11 from Denver to Breckenridge, Colorado and will be expanded to Fort Collins, Colorado in April. | |
5 things to know before the stock market opens MondayU.S. stock futures started the new month moving sharply higher Monday, trying to put a dent in the late February decline. | |
Biden Backs Amazon Workers In Alabama To UnionizeBiden Backs Amazon Workers In Alabama To Unionize Amazon workers in a warehouse in Alabama have received new support to unionize on Sunday, that is, from President Biden, saying workers should be able to make their own choice about unionizing, free from corporate pressure, according to Bloomberg. Jennifer Epstein, White House reporter at Bloomberg, said the Biden administration released a new direct-to-camera video featuring Biden who weighed in on the push for Amazon warehouse employees at the Bessemer, Alabama, Amazon Fulfillment Center, to unionize. He told workers to make their “voices heard,” saying it’s up to them to unionize. | |
Exxon Soars After Activists Jeff Ubben, Michael Angelakis Join Board Of DirectorsExxon Soars After Activists Jeff Ubben, Michael Angelakis Join Board Of Directors Could Exxon wind up being the next ESG play? Shares of the oil and gas giant spiked Monday pre-market after CNBC’s David Faber reported that Jeff Ubben would be joining the company’s board. In addition, Mike Angelakis – the former CFO of Comcast and a “green” activist – was also said to be joining the board. “Mike Angelakis, the chairman and chief executive officer of Atairos and former CFO of Comcast, is also joining the board,” CNBC reported. According to Angelakis’ bio, he “was the Chairman of the Board for the Federal Reserve Bank of Philadelphia, a member of the Board of Directors of Duke Energy and Hewlett Packard Enterprises, and a trustee of Babson College.” So perhaps Exxon now has themselves a liaison for when the Federal Reserve focuses on fighting climate change. | |
Blain: Catching A Falling Knife Can Get MessyBlain: Catching A Falling Knife Can Get Messy Authored by Bill Blain via MorningPorridge.com, œThe wilder and more ridiculous something is, however, the firmer and more solid the evidence will have to be. There is an old market rule ” don’t fight the Fed. Jay Powell has been crystal clear: rates are staying lower for longer. But the ongoing sell-off in Treasuries, and rising global bond yields, paints an interesting story of a market unconvinced rates can be held down, and therefore the cosy rationale behind the current stock market is over. Unconvinced is not the same as certain. Does the rise in the bond yields and the resulting wobble in stocks, represent something fundamental? Or will we see another bouncing case of Mad March Madness? Last year, stocks cratered on Coronavirus fears, but quickly found a bottom buoyed by swift government stimulus and increased central bank bond QE buying. These promises were a trampoline that bounced last year’s stratospheric market rally to improbable record-breaking levels even as global economies continue to flatline. Since March – 12 months ago – there has been that shadow of doubt overhanging the rally. The market has been struggling to convince itself its justified. Was it simply fuelled by cheap money? Relative value? Broken risk pricing? Has it fully priced in recovery?  What are the threats? Inflation is the obvious one: all that new money on the back of unrestrained government injections and spending prom … | |
Stocks, Futures, Commodities Surge As Bond Yields StabilizeStocks, Futures, Commodities Surge As Bond Yields Stabilize After last week’s global bond rout, central banks weren’t taking any chances, and as soon as the overnight session started yields plunged first in Australia and then everywhere else after the RBA doubled the amount of daily QE to enforces its YCC, sending 10Y Australian bond yields plunging by as much as 32bps, the biggest drop since last March. Other joined in verbally, with the ECB saying said it will not tolerate higher yields even though the Fed has for now said it sees little cause for concern in the rapid run up (BofA disagrees and expects Powell to calm markets as soon as this week). Meanwhile, a barrage of sellside reports over the weekend, sought to reassure investors about the risk of a breakout in inflation, with the likes of JPM and Goldman all saying that fears of a rapid increase in consumer prices are overblown (although in case they aren’t, Goldman conveniently provided a list of companies that will be hammered if yields continue to rise). In any case, S&P500 futures jumped more than 1% on Monday thanks to the stabilization in bond yields and as Johnson & Johnson’s newly approved COVID-19 vaccine and progress in a new $1.9 trillion coronavirus relief packag … | |
Covid: ‘People are tired of working from home’Canary Wharf expects people to return to the office but may choose home working some of the time. | |
Budget 2021: ‘Now is not the time for tax rises’, say MPsThe Treasury Committee says “significant” measures may be needed later to improve public finances. | |
Apprenticeships levy ‘has failed on every measure’, says HR bodyThe professional body for HR said apprenticeship starts have fallen and far fewer have gone to young people. | |
Bitcoin rises 6% as risk assets rally; Citi says at a “tipping point”Bitcoin, which has risen to $47,000 from $4,700 last March, could in the future become the preferred currency for international trade or face a “speculative implosion,” Citi said. | |
Reliance Jio just sent a message for Vodafone Idea, Bharti Airtel investorsKotak Institutional Equities said that upfront payment may be a deterrent for incremental customers despite attractive propositions. | |
Maruti Suzuki sales grow 12% in February; analysts remain positiveTotal sales in the month include domestic sales of 147,483 units, sales to other Original Equipment Manufacturers (OEMs) at 5,500 units, and exports of 11,486 units. | |
Europe Markets: Stock markets return to winning form as bond yields easeThe fears over falling bond prices that gripped the market receded on Monday, as European stocks and U.S. stock futures rose as bond yields fell. | |
: Yogurt giant Danone to sell Chinese unit in a bid to appease activist investorsThe Danone board will meet on Monday to debate a response to increasing pressure from activist funds. | |
Futures Movers: Oil prices resume rally ahead of this week’s OPEC+ decision on crude productionOil futures rise Monday, buoyed ahead of a decision this week by the Organization of hte Petroleum Exporting Countries and its allies that’s expected to see a loosening of production curbs. |
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