Written by Gary
Air travel jumps as vaccinations spur bookings, stocks surge (SPY flat at -0.02%). Stocks making the biggest moves midday: Eli Lilly, AMC, Delta Air Lines.
Here is the current market situation from CNN Money | |
 | North and South American markets are mixed today. The Bovespa is up 0.23% while the IPC gains 0.20%. The S&P 500 is off 0.04%. |
What Is Moving the Markets
| Here are the headlines moving the markets. | |
| The Big OPEC+ Gamble Appears To Be Paying OffU.S. oil firms focused exclusively on the shale patch are expected to only marginally increase their combined production this year compared to 2020, according to Bloomberg Intelligence data of listed companiesa sign that OPEC+ could be right, at least for now, that $70 oil would not unleash a massive production increase from the United States. According to Bloomberg Intelligence data, the largest listed U.S. shale firms who have no production outside America are set to raise their production from 6.5 million barrels per day (bpd) in 2020 |
| UAE Claims Ownership Of Oil Cargo U.S. Just SeizedAn Emirati oil and gas company owned by the ruler of Fujairah has surprised U.S. authorities by claiming an oil cargo the U.S. seized earlier this year, alleging that it carried Iranian crude in violation of sanctions. Fujairah International Oil & Gas Corp., Bloomberg reports, told a federal court in the District of Columbia that the 2 million barrels of crude oil originally came from Iraq. However, it did not disclose the supplier. The Emirati company, which is owned by the Fujairah emir, Sheikh Hamad bin Mohammed Al Sharqi, then sold the |
| Mexicos Pemex Boasts Billion-Barrel Oil DiscoveryMexicos Pemex has discovered a gigantic oilfield in the state of Tabasco that could hold as much as one billion barrels of oil, Octavio Romero Oropeza, chief executive of the state oil firm, said in an interview with the Mexican state broadcaster on Sunday. Pemex, the most heavily indebted oil company in the world, has been struggling to reverse the decline in its oil production, even after leftist nationalist Mexican President Andrs Manuel Lpez Obrador came to power in 2018, offering increased support to the state |
| NTSB: Tesla Uses Customers As Guinea Pigs For Autopilot TechThe National Transport Safety Board has slammed Tesla for using customers to beta test its automated driving technology before its official approval. CNBC reports that the NTSB called on the National Highway Traffic Safety Administration to tighten regulation on self-driving technology, which could affect how Tesla releases new features to its customers, the report notes. The NTSB recognizes NHTSAs efforts to develop a framework for ADS [automated driving system] safety, NTSB board chairman Robert L. Sumwalt wrote in a letter |
| Another Investment Bank Is Betting On $100 OilCrude oil could hit $100 and top it, and this could happen before this years end, according to Craig Johnson from investment bank Piper Sandler. Speaking to CNBC, Johnson said, I could actually see a number that could be north of 100 in the next, say, six to … 12 months from here, noting the still strong upside potential of crude. To us, it looks like you could have more than 40% upside to get back to the old highs in 2018. Johnson joins other financial professionals in their upbeat predictions for crude oil |
| Oil Bulls Beware: This Optimism Is UnjustifiedOptimism seems to be ruling global oil markets at the moment. Even the recent OPEC report, in which the global oil group cut its demand predictions for Q2 2021 by more than 690,000 bpd, seemed unable to alter price assessments. Bullishness stemming from the OPEC+ production cuts continues to rule the market, with analysts happy to assume that the cartel will remain optimistic in its assessment of H2 2021. With oil prices hovering around $70 per barrel and some analysts even suggesting that the fabled $100 per barrel is within sight, it seems |
| 10 snubs and surprises from this year’s Academy Award nominationsTen of the biggest snubs and surprises from Monday’s Academy Award nominations. |
| Danone looks to grab more coffee creamer sales with launch of plant-based Honest to Goodness brandDanone unveiled Honest to Goodness, a line of plant-based coffee creamers, hoping to capture some of the growing demand for non-dairy products. |
| VW to ramp up battery cell production with six ‘gigafactories’ in EuropeGerman carmaker will also focus on the development of a “new unified cell”. |
| Germany, France and Italy become latest countries to suspend AstraZeneca vaccine over blood clot fearsThe WHO has sought to downplay safety concerns, saying last week that there is no link between the shot and an increased risk of developing blood clots. |
| Toys R Us has a new owner that’s planning to open stores again in the U.S.Brand management company WHP Global announced it has acquired a controlling interest in Tru Kids, the parent company of the Toys R Us and Babies R Us brands. |
| Stocks making the biggest moves midday: Eli Lilly, AMC, Delta Air Lines and moreCheck out the companies with notable stock price moves on Monday. |
| England to update bus services with a £3 billion plan involving hydrogen technologyThe way buses in England operate could be on the verge of some big changes. |
| Netflix earns most Academy Award nominations in a year where diversity shinesThe nominations for the 93rd annual Academy Awards are set to be announced on Monday morning. |
| NHL could net over $600 million for rights package, but it needs NBCThe NHL agreed to a seven-year deal with ESPN, and media pundits suggest its rights package could be worth $625 million f NBC renews its own contract. |
| Dr. Scott Gottlieb: U.S. doing better on Covid vaccines so another case spike like Europe unlikely“I think the tables have turned. We’re ahead of Europe,” Dr. Scott Gottlieb told CNBC. |
| Air travel jumps as vaccinations spur bookings, stocks surgeAir travel on Sunday surpassed last year’s levels but was still down more than 40% from 2019. |
| How Wrigley’s managed to dominate the chewing gum world despite nearly a decade of declining public interestFor nearly 130 years, the brand Wrigley’s has become synonymous with chewing gum. Since 2015, Mars Wrigley has held 25% of the global brand share for chewing gum and a 40% hold in the U.S. |
| Here’s how to watch all of the 2021 Academy Awards’ best picture nomineesThe 93rd Academy Awards nominees have been been announced and eight films will fight for the best picture trophy this year. |
| Vatican Calls Homosexuality A “Sin”, Refuses To Bless Same-Sex UnionsVatican Calls Homosexuality A “Sin”, Refuses To Bless Same-Sex Unions Pope Francis has, without question, been a tremendous PR man for the Vatican with his progressive causes and missives about climate change and economic inequality. But at the end of the day, the Catholic Church is still the Catholic Church. And in the Vatican’s latest statement angering the Church’s liberal critics, the Church’s orthodoxy office said Monday that Catholic priests can’t bless same-sex unions. The reasoning? God “cannot bless sin.”
The Congregation for the Doctrine of the Faith issued the clarification Monday in response to questions about gay unions. The two-page statement was published in seven languages and approved by Pope Francis.Â
But in keeping with … |
| US Panel To Review AstraZeneca Data As Spain Latest To Halt Jabs; Germany Sees Increased Blood-Clot RiskUS Panel To Review AstraZeneca Data As Spain Latest To Halt Jabs; Germany Sees Increased Blood-Clot Risk Update 1230ET): Spain’s La Vanguardia newspaper just reported that the Spanish government will also halt AstraZeneca jabs until further review. The full list of countries that are currently not using the British-made jab are: France Germany Italy Netherlands Ireland Iceland Denmark Norway Bulgaria Luxembourg Estonia Latvia Lithuania Austria Romania Thailand Democratic Republic of Congo Indonesia * * * Update (1220ET): As fears about the AstraZeneca vaccine’s side-effects intensify, even the US is starting to doubt. According to media reports confirmed minutes ago by Bloomberg, an independent panel is reviewing the AstraZeneca trial data. If all goes well, the vaccine could receive its US emergency approval in about a month. But if not, then it would be the first major jab to be rejected by an American regulator. Last year, US regulators halted a trial for the AstraZeneca jab for roughly a month following reports of a different rare illness. Meanwhile, Polish Health Minister Adam Niedzielski warned that Poland would hold off on a decision on whether to approve the AstraZeneca jab until after the EMA, Europe’s top regulator, issued its final decision. * * * Update (1125ET): France and Italy (once again) are the latest EU heavyweights to halt the use of the AstraZeneca-Oxford COVID jab, following in the footsteps … |
| White House Won’t Reveal How Many Illegal Immigrants Entering Texas Have COVID-19: Gov. AbbottWhite House Won’t Reveal How Many Illegal Immigrants Entering Texas Have COVID-19: Gov. Abbott Authored by Jack Phillips via The Epoch Times, Texas Gov. Greg Abbott said that the White House has refused to tell Texas officials how many illegal immigrants who have crossed the U.S.-Mexico border have tested positive for COVID-19.
When asked in a Fox News interview on Sunday about whether illegal immigrants are spreading the CCP (Chinese Communist Party) virus, which causes the COVID-19 disease, the Republican governor responded, œI have not seen any data about what the COVID rate is while adding that agents have reported to his … |
| Brace For A Huge Retail Sales Miss: BofA Card Data Shows Collapse In February SpendingBrace For A Huge Retail Sales Miss: BofA Card Data Shows Collapse In February Spending One month ago, ahead of the record-breaking February retail sales report which smashed expectations in a 5-sigma beat to consensus and saw a record jump in core retail sales…
… we cautioned readers that “A Blockbuster Retail Sales Report” was coming, citing BofA’s latest credit and debit card data which showed a surge In spending, and more importantly, found that actual spending was coming in about 5-10x hotter than consensus. |
| Chocolate maker Thorntons to close all its shopsThe company blames conditions on the High Street for its decision to close 61 stores, putting 603 jobs at risk. |
| Hundreds disappointed by Mother’s Day bouquetsAngry customers have taken to social media to complain about delayed deliveries and dead blooms. |
| Cost of living: Hand gel in, white chocolate outLoungewear and smart watches are other commonly bought goods now used to measure changes in the cost of living. |
| Retail Bitcoin traders rival Wall Street buyers as mania buildsœFor many retail cryptocurrency traders, Bitcoin was the bread-and-butter trade of the pandemic. Meme stock trading volatility burnt many, but Bitcoin has maintained an amazingly bullish trend that has made most winners, said Ed Moya, senior market analyst at Oanda Corp. |
| Suryoday SFB offers better return ratios than peers: Should you subscribe to the IPO?Investors may wait to see the company’s performance and asset quality trend for the next few quarters before taking an exposure. |
| Why govt bond yields are not going down & what’s RBI doingRBI’s intention to normalise the extraordinary liquidity in the system with 14-day reverse repo auction of Rs 2 lakh crore led to selling on the front-end of the yield curve. |
| Need to Know: This is when to sell cyclical winners and buy back tech stocks, JPMorgan saysJPMorgan strategists said the rise in bond yields wasn’t over yet and that it was premature to start selling cyclical stocks and buying back defensive equities, such as healthcare and tech stocks. |
| IPO Report: ThredUp IPO: 5 things to know about the secondhand e-commerce site before it goes publicLike most of retail, ThredUp has taken a hit from COVID-19, but expects young shoppers to embrace resale going forward. |
| Economic Report: Empire State manufacturing index hits 8-month high in MarchManufacturing activity in New York rose 5.3 points to 17.4 in March, its highest level since July, the New York Fed said on Monday. |
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