Written by Gary
Boeing monthly aircraft orders outpace cancellations for first time since 2019 (SPY +1.8%). Tech comeback rally gains steam as Tesla up 10%.
Here is the current market situation from CNN Money | |
North and South American markets are sharply higher today with shares in U.S. leading the region. The S&P 500 is up 1.87% while Mexico’s IPC is up 1.58% and Brazil’s Bovespa is up 1.01%. |
What Is Moving the Markets
Here are the headlines moving the markets. | |
China Carbon Market Set For Explosive GrowthChinas carbon emissions market is set to expand 30 times over the next ten years, reaching $25 billion by 2030, Bloomberg reports, citing an analysis by Citi. The Chinese national ETS [emissions trading system] as currently rolled out should play a limited role in reducing emissions at first, Citi analyst Tracy Liao said, as quoted by Bloomberg. We expect a series of developments to transform Chinas ETS into the worlds largest effective carbon trading scheme and a key building block of the countrys | |
Tesla Is Silently Building Another Huge Battery In TexasTesla is building a 100-MW battery storage facility in Texas, Bloomberg has reported, adding the company has not yet officially unveiled the project. According to the report, the project is located some 40 miles south of Houston and is being led by a subsidiary of the EV maker, Gambit Energy Storage LLC. The parent, however, does not seem particularly willing to talk about the project, according to the Bloomberg report. A 100-MW storage facility could be able to supply power to some 20,000 households, according to Bloomberg, “on a hot summer day”. | |
Flight Shaming Triggers German Airline Lufthansa To Ditch FlightsGermanys official carrier Lufthansa has partnered with railway operator Deutsche Bahn to eliminate short-haul domestic flights to the airlines Frankfurt hub and replace them with train journeys. Lufthansa already has a network of cities serviced by the Deutsche Bahn Express Rail system, and now the airline will add five more to this network, including Hamburg, Berlin, and Bremen. The move, DPA notes in a report on the news, comes in response to mounting pressure on airlines to reduce their carbon footprint. The aviation industry accounts | |
India Looks To Reduce Dependence On Middle East OilFollowing the OPEC+ decision to roll over the production cuts into April, India is asking its state-owned refiners to aggressively look to diversify imports away from the Middle East, as the worlds third-largest oil importer isnt happy with the tighter oil market and higher oil prices. We have asked companies to aggressively look for diversification. We cannot be held hostage to the arbitrary decision of Middle East producers. When they wanted to stabilize the market we stood by them, a government source told Reuters | |
$70 Oil May Cause Slowdown In Demand RecoveryWhile the unexpected rollover of the OPEC+ production cuts sent Brent Crude prices up to $70 a barrel, the highest oil prices in more than a year could dampen global oil demand recovery, which the OPEC+ group itself still sees as fragile. After the surprise OPEC+ move last week, crude oil prices rallied faster and higher than many forecasters had predicted just a week ago as the market expects supply shortages amid recovering demand. Oil at $70 a barrel is good for oil bulls, oil companies, and the oil-dependent budgets | |
U.S. Oil Refineries Still Down And Out After FreezeJust seven U.S. oil refineries out of the 18 that were down due to the Texas Freeze are operating normally as of Monday, according to Bloomberg. Those 18 refineries that were down accounted for as much as 5.5 million barrels of crude processing capacity per day. As a result of the Texas Freeze, according to Energy Information Administration data, weekly U.S. percent utilization of refinery operable capacity dipped to 56% during the week ending February 26the lowest operable utilization of operable capacity since the EIA began tracking the | |
‘Avatar’ is just $7.4 million behind ‘Avengers: Endgame’ box office record and it’s headed back to Chinese theaters this weekend‘Avatar’ is just $7.4 million behind ‘Avengers: Endgame’ box office record and it’s headed back to Chinese theaters this weekend. | |
Dick’s Sporting Goods shares fall as retailer predicts slowing sales in year aheadDick’s Sporting Goods topped Wall Street’s estimates, as shoppers continued to buy equipment and apparel for working out during the Covid pandemic. | |
Chipotle cracks the code on adding quesadillas to the menu: Make it for online orders onlyAfter years of testing and tweaking, Chipotle Mexican Grill will finally add quesadillas to its menu. | |
Target launches grocery brand Favorite Day that’s focused on snacks, indulgencesThe big-box retailer wants to give shoppers reasons to keep coming back to its stores and website beyond the Covid pandemic. | |
Kind launches frozen smoothie bowls as more consumers eat breakfast at homeThe Kind brand has expanded into a number of new product categories, positioning itself as healthier and more nutritious than its competition. | |
Boeing monthly aircraft orders outpace cancellations for first time since 2019Boeing sold 82 new airplanes in February with new sales outpacing cancellations for the first time since November 2019. | |
‘Gamification’ of online stock trading is not a problem, GOP senator says before GameStop hearing“My view is the democratization of these markets has been fantastic,” Senate Banking ranking member Patrick Toomey told CNBC ahead of Tuesday’s hearing. | |
Rob Gronkowski will sell NFTs of his best Super Bowl momentsRob Gronkowski will put more than 300 non-fungible tokens up for sale featuring Super Bowl highlights on the OpenSea marketplace. | |
Op-ed: Here’s how to capitalize on a self-directed brokerage account within your 401(k) planIf your employer’s 401(k) plan allows it, it can be worth the money to hire your own advisor, putting you in an ideal position to optimize your retirement plan. | |
Time to double down ” not let up, WHO chief scientist warns as Covid cases riseCountries cannot let their guard down and must ramp up efforts to contain Covid-19 in the face of more new cases, said Dr. Soumya Swaminathan of the WHO. | |
Stitch Fix swings to a quarterly loss and softens outlook on shipping delays; shares plungeThe subscription styling service lowered its revenue forecast for the current quarter and fiscal year. | |
CEO Fawn Weaver and her all-female leadership team are piloting one of America’s fastest-growing whiskey companies to historic growthUncle Nearest CEO Fawn Weaver said she attributes her company’s success to building a workforce that mirrors America and inviting all consumers to their table. Â | |
Xpeng predicts it will deliver fewer electric cars than Nio in the first quarterEven considering China’s week-long Lunar New Year holiday in mid-February, Xpeng’s forecast of 12,500 first-quarter deliveries falls short of Nio’s. | |
Lincoln Project Exposed: Founders Made Millions In “Most Obvious & Glaring Fraud In Modern History”Lincoln Project Exposed: Founders Made Millions In “Most Obvious & Glaring Fraud In Modern History” Leaders of the Lincoln Project – a cadre of anti-Trump Republicans who raised $87 million to oppose the former president’s reelection – knew about co-founder John Weaver’s sexual harassment allegations involving young men after being warned multiple times last year, yet Weaver remained at the organization for at least seven months after the first report, according to an in-depth investigation by the New York Times’ Danny Hakim, Maggie Astor and Jo Becker. John Weaver, accused of harassing young men, took a medical leave from the Lincoln Project in August.Credit…Open Mind/CUNY-TV, via YouTube Citing a mix of anonymous sources and former employees, the Times found that the group knew about Weaver’s aggressive harassment of young men since at least January, 2020, when an employee for the group’s digital marketing … | |
Boeing Surges After Net Orders Turn Positive For The First Time In 14 MonthsBoeing Surges After Net Orders Turn Positive For The First Time In 14 Months In a world growing increasingly euphoric about the imminent conclusion of the covid pandmic, moments ago Boeing shares also joined in the “reset” party, surging 3% after the company reported its first backlog growth since November 2019. In its latest monthly update, the company announced that in February it booked 82 new gross orders, taking its gross total for the year so far to 86 planes. And with 51 jet orders cancelled, the order backlog grew by 31 new planes, the company’s first positive net orders since November 2019 as COVID-19 vaccine rollouts boosted the confidence of its airline customers. The company also announced that it delivered 22 aircraft in February, up from 17 a year earlier. The February orders included 25 737 MAX jets for United Airlines announced earlier in March, 14 737 MAX aircraft for unidentified customers and 27 KC-46 tankers for the U.S. Air Force announced in January. Singapore Airlines also ordered 11 777X jets as part of a conversion deal announced last month that includes the cancellation of 19 of its 787-10 jetliners. The rest of February’s cancelations were 32 737 MAX planes, including 15 by Canada’s WestJet, eight by lessor Jackson Square, seven by Panama’s Copa Airlines, and one order each for BOC Aviation and a business jet customer. Of note , no new 787 jets were delivered. As a result of the new orders, Boeing’s order backlog stood at 4,041 aircraft as of end-February versus 4,016 jet orders as of January. February deliveries included 18 737 MAX jets, three wide-body planes … | |
Arizona Border Chief Warns Illegal Immigration On Track To Surpass Past 3 Years CombinedArizona Border Chief Warns Illegal Immigration On Track To Surpass Past 3 Years Combined Authored by Jack Phillips via The Epoch Times, A U.S. Border Patrol official issued a warning that illegal immigration is on track to overtake the past three years combined amid a surge of migrants at the U.S.-Mexico border. œSo right now we’re about a hundred percent over where we were this time, this last fiscal year, John Modlin, the interim chief in charge of the Border Patrol’s Tucson sector, told independent journalist Sharyl Attkisson.
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Friends Again? US, China To Hold Top-Level “Reset” Meeting In AlaskaFriends Again? US, China To Hold Top-Level “Reset” Meeting In Alaska Even if he hasn’t been quite as aggressive as his predecessor, President Joe Biden has promised the American people that he would retain President Trump’s skeptical posture toward Beijing, which is widely regarded as America’s biggest geopolitical foe. Since arriving in Washington in January, the new administration has decided to maintain the tariffs from Trump’s trade war with China (despite all the winging from globalist “experts” who claimed the trade war would suppress economic growth and ultimately harm American industry), much to the leadership’s chagrin. Meanwhile, President Xi has pressed ahead with plans to de-democratize Hong Kong while both Xi and other top CCP officials have ratcheted up the warlike rhetoric as the CCP sets its sights on reclaiming Taiwan. | |
Liberty Steel boss Sanjeev Gupta warns over loss-making plantsSanjeev Gupta, owner of Liberty Steel, says he is seeking new funding after its lender went under. | |
Supermarkets warn pet boom causing food pouch shortagesSainsbury’s, Tesco and Morrisons have seen demand rise after more people bought pets during lockdown. | |
Holidays: UK domestic cruises ‘could restart in May’Cruise lines will be able to restart domestic trips as early as 17 May, according to the maritime minister. | |
Blackstone said to call off Mphasis stake sale on valuationsBlackstone Group is said to have rejected the two bidders in the final round of Mphasis’ stake sale as their offers didn’t meet its expectations. | |
Suryoday Small Finance Bank raises Rs 150 crore before IPOSuryoday would be the fourth small finance bank to come out with IPO after AU Small Finance Bank, Equitas Small Finance Bank and Ujjivan Small Finance Bank. Unlike Equitas and Ujjivan, Suryoday has no holding company. | |
Market Movers: Why BPCL plunged; 75 stocks send sell signalsOver 270 stocks hit 52-week highs on Tuesday. Adani Power, BHEL, IRCTC, Mindtree, NMDC, UPL, SBI Life Insurance, HDFC Life Insurance, Grasim Industries, Trent and AU Small Finance Bank were among the top names. | |
Capitol Report: House to vote on $1.9 trillion coronavirus relief bill on WednesdayThe House of Representatives will vote on the $1.9 trillion coronavirus economic aid package on Wednesday, according to House Majority Leader Steny Hoyer’s office. | |
: Forget NIO and XPeng. This company and Tesla will be the top 2 electric-vehicle plays by 2025, says UBSWithin the next four years it will be Volkswagen competing with Tesla for the crown of most EV sales globally, according to UBS. | |
Coronavirus Update: Global tally of COVID cases tops 117 million as study finds Pfizer-BioNTech vaccine works against Brazil variantThe global tally of confirmed cases of the coronavirus-borne illness COVID-19 climbed above 117 million on Tuesday, as a study found the vaccine developed by Pfizer Inc. and German partner BioNTech SE is effective in neutralizing the highly infectious new variant that was first detected in Brazil. |
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