Written by Gary
Copper futures jump on strong Chinese demand (SPY -0.5%). Stocks making the biggest moves in the premarket: Goldman Sachs, Credit Suisse, Nomura.
Here is the current market situation from CNN Money | |
European markets are mixed. The DAX is higher by 0.06%, while the CAC 40 is leading the FTSE 100 lower. They are down 0.43% and 0.07% respectively. |
What Is Moving the Markets
Here are the headlines moving the markets. | |
Can Silicon Valley Beat China In Clean Energy Tech?Many investors are already aware of the fact that China is the world’s most dominant player in the solar and clean energy sector. 8 out of 10 biggest manufacturers of solar equipment are Chinese with First Solar (NASDAQ:FSLR) and SunPower (NASDAQ:SPWR) the only American representatives among the elite. It’s not for lack of trying, thoughSilicon Valley pumped tens of billions of dollars in clean energy ventures during the first wave of the renewable energy transition that started halfway through the first decade of the new millennium. | |
Global Petroplastic Markets Set To Explode This YearIn a sharp reversal of fortunes, oil markets have gone into another tailspin with prices dipping by the biggest margin since the historic April crash. WTI and Brent crude recorded earlier this month the biggest drop in absolute terms since April 2020, when oil prices entered negative territory for the first time in history. Volatility continued during the last trading sessions of the week, with prices stabilizing on Friday. Opinions on the oil trajectory remain deeply divided, with the bulls saying the oil markets are simply taking a breather after | |
Why Natural Gas Prices Are Unlikely To Break Out In The Short TermThe U.S. natural gas benchmark is set for several months of below $3 MMBtu price analysts and EIA forecasters say. The agency cited declining demand for heating in the spring along with rising American dry natural gas production. Following the Texas Freeze in the middle of February when demand spiked and production collapsedleading to the second-largest withdrawal of natural gas from storage in the U.S. in historydemand for natural gas has been declining and production has been growing. The return of the production shut-in | |
The Biofuel Boom Could Threaten Food SecuritySustainable aviation fuels seem to be the future of air travel, according to industry insiders seeking to reduce the industrys carbon print. Refiners are on board, just as they are on board with a planned major boost in biofuels production during the Biden administration. Farmers are certainly on board. And the prices of vegetable oils are already rising to multi-year highs, driving up prices of other foodstuffs to the highest since 2014. Reuters Naveen Thukral and Gavin Maguire earlier this month wrote that vegetable oil prices have | |
Copper Futures Jump On Strong Chinese DemandCopper prices rose on Friday, tracking gains in the equities market buoyed by optimism over the global economic recovery on positive US labour data and its faster-than-anticipated covid-19 vaccination roll-out plans. Copper for delivery in May was up 2.11% by midday, with futures touching $4.06 per pound ($8,932 a tonne) on the Comex market in New York. Equities markets rose as the United States completed its 100 million covid-19 vaccine shots 42 days ahead of schedule and posted a drop in unemployment benefits claims. Dow futures have rallied | |
Is Shale Exploration About To Surge?The United States shale industrys era of newfound prudence could be coming to an end. After a devastating 2020 for U.S. oil, the mood in the shale sector has been historically reserved, with drillers focused on balancing their books and getting into the black before overextending with new exploration. This is out of the ordinary for the sector, as the boom and bust cycle of oil markets has long been an accepted and unavoidable part of the oil industry. The oil industry is predictably cyclical: When oil prices climb, | |
Sports tech company Hyperice strikes multiyear sponsorship deal with New York YankeesHyperice will make its products available to Yankees players and have in-stadium signage rights at Yankee Stadium. | |
5 things to know before the stock market opens MondayU.S. stock futures dropped Monday after a late-session rally Friday sent the Dow and S&P 500 sharply higher to record high closes. | |
Europe looks to contain spiraling Covid crisis, but it’s ‘Happy Monday’ in the UKThe public health situation is deteriorating further in France and Germany, while the U.K. is easing lockdown on Monday. | |
The EU could open up a ‘Pandora’s box’ of vaccine nationalism if it restricts exports, professor saysThe European Union could open up a “Pandora’s box” if it restricts exports of Covid vaccines, said James Crabtree of the Lee Kuan Yew School of Public Policy. | |
Rising Covid cases can’t be blamed on variants alone as travel resumes, states lift restrictions, Fauci saysDr. Anthony Fauci said the latest rise in Covid cases may be because more Americans are traveling for spring break as states lift restrictions. | |
San Diego Comic-Con sets sights on Thanksgiving weekend, sparking backlash from fans and talentSan Diego Comic-Con’s decision to place an in-person convention over Thanksgiving weekend is facing harsh backlash from fans, talent and press. | |
The U.S. is in a delicate position as Covid cases increase alongside vaccinations, experts warn“We have the danger ” and I do mean danger ” of having another surge within the next two months,” Vanderbilt University’s Dr. William Schaffner told CNBC. | |
United Airlines flies to JFK for the first time since 2015, taking advantage of pandemic lullUnited is scheduled to operate two, roundtrip cross-country flights in its JFK return on Sunday. | |
Covid cases are rising and hospitalizations have plateaued even as vaccinations increaseCovid-19 cases are rising and hospitalizations have plateaued in the U.S. even as the country set a new record for coronavirus vaccine doses administered in one day on Saturday. | |
Cheniere and Shell oil tankers change course to avoid Suez Canal as ships divert routesAt least ten ships are changing course as the Ever Given, one of the world’s largest containerships, remains stranded across the Suez Canal along Egypt. | |
NASA wants companies to develop and build new space stations, with up to $400 million up for grabsNASA this past week unveiled the Commercial LEO Destinations (CLD) project, with plans to award up to $400 million in total to as many as four companies. | |
France 23-27 Scotland: Wales crowned Six Nations champions as visitors win in Paris despite Finn Russell red cardWales were crowned Six Nations champions after Scotland claimed a stunning 27-23 win over France. | |
Auto supplier BorgWarner expects EVs to account for almost 50% of revenue by 2030The transition to electric vehicles “goes at different speed and different region but it’s profound,” BorgWarner CEO Frederic Lissalde told CNBC. | |
Futures Rebound Despite Global Margin Call FearsFutures Rebound Despite Global Margin Call Fears After initially dipping as much as -0.7% during the early Asian session on fears that the Archegos margin call crisis which has already cost billions in losses at Nomura and Credit Suisse’s prime brokerage units could spread, futures have stabilized and at last check the Emini was down -0.3% to 3,952 after its remarkable late Friday surge which pushed the S&P just shy of an all time high, while quarter-end is expected to be in focus this week, favoring buying of Treasuries although it is debatable how stocks will trade today. At the same time, Nasdaq 100 futures erased losses of as much as 1.2% to trade little changed as of 7:30am in New York following revelations that Archegos Capital Management LLC – Bill Hwang’s family office – was behind a $20 billion spree of block trades on Friday, selling Chinese tech giants and U.S. media firms. And with a number of banks exposed to Archegos and losing billions, investors are on edge lookout for signs of contagion. As | |
Czech Republic’s Richest Man Dies In Alaskan Helicopter CrashCzech Republic’s Richest Man Dies In Alaskan Helicopter Crash Czech billionaire Petr Kellner, the tiny Central European country’s richest man, was among five people killed in a helicopter crash in Alaska’s backcountry over the weekend while he and several other guests at a local ski lodge were on a trip. The Airbus AS350 B3 carrying Kellner and the others crashed in unknown circumstances about 50 miles east of Anchorage at roughly 1835ET on Saturday, according to local officials quoted in the Times of London. Kellner, 56, had a net worth of about $7.5 billion according ot the latest Forbes estimate. The others who died were Gregory Harms, 52, of Colorado, Benjamin Larochaix, 50, of the Czech Republic, and two Alaskans, Sean McMannany, 38, and the pilot, Zachary Russel, 33, of Anchorage. Another individual who was on board was in serious but stable condition. The passengers had been flying from the Tordrillo Mountain Lodge (about a 40 minute flight from A … | |
Megaship Blocking Suez Canal “80% Partially Refloated”ÂMegaship Blocking Suez Canal “80% Partially Refloated” The Ever Given container ship, stuck in the southern part of the Suez Canal, has been partially refloated, according to Egypt Today Magazine. Tugboat efforts will continue Monday around high tide to clear the blockage in one of the world’s most important shipping lanes. Ever Given has been paralyzed in the canal for nearly a week as more than 450 ships are queued up, waiting to transit the vital shipping lane while others have rerouted around the Cape of Good Hope. A statement by the Suez Canal Authority (SCA) said the container ship has “responded to the pulling and towing maneuvers.” We reported Sunday at least 14 tugboats and a dredging vessel have worked around the clock for days to move the Ever Given. SCA gave no timeline when the canal would reopen since the vessel is only partially refloated. | |
The Eurozone Weakness: Much More Than COVIDThe Eurozone Weakness: Much More Than COVID Authored by Daniel Lacalle, If we looked at most investment bank outlook reports for 2021, one of the main consensus themes was a strong conviction on a rapid and robust eurozone recovery. They were wrong. This week, Capital Economics joined other analysts and downgraded the eurozone growth, highlighting œWe now think that the euro-zone economy will recover more slowly than we previously anticipated, growing by about 3% this year and 4.5% in 2022. Meanwhile, euro-zone government bond yields seem unlikely to fall much further, and with Treasury yields set to increase significantly, we expect the widening yield gap to cause the euro to weaken against the US dollar . This wave of downgrades, which includes the OECD and European Central Bank estimates, comes with the same-old and tired upgrade of next year’s expectations, which will likely be downgraded again further down the line. Most politicians blame the eurozone weakness on the pandemic and the slow vaccine roll out. It is partially true. None of those two factors are detached from one of the main traits that makes the eurozone consistently disappoint in growth and crisis periods: massive bureaucracy. The slow vaccine roll-out of the eurozone is evi … | |
Deliveroo flotation price to be at bottom of target rangeThe food delivery business says it is pricing shares “responsibly” amid œvolatile market conditions. | |
‘It’s do or die time for my insurer to pay up’Thousands of businesses across the country are feeling the pinch as insurers ‘drag their heels’ paying Covid claims. | |
Credit Suisse and Nomura warn of hedge fund hit to profitsMajor investment banks warn of losses after hedge fund crisis sparks share dump of billons of pounds. | |
Will the latest fundraising help this midcap microfinance lender find its mojo back?The return of its loan disbursement growth to pre-COVID levels and last week’s fund-raising are likely to improve the company’s performance in the coming quarters. | |
Bond investors already betting on return to normal life amid vaccine optimism‹Bonds of EasyJet Plc and U.K. property manager Hammerson Plc are among the best performers in Europe this year. | |
Your coffee could get dearer due to Suez Canal blockageReports said ships of Robusta coffee — used by Nescafe — have got caught up in the blockage. | |
Bond Report: U.S. Treasury yields hold ground in jobs-focused weekU.S. Treasury yields are steady in early Monday trade as investors eyed the all-important employment report at the end of the week, which could underline the economy’s strength as vaccination rates accelerate. | |
: Moderna vaccine to arrive in U.K. imminently as India starts testing Novavax inoculationThe Serum Institute of India says the jointly developed Covovax has an overall efficacy of 89%. | |
: Olive Garden parent is raising wages for hourly workers as customers start dining in againDarden Restaurants says hourly workers earn, on average, $17 per hour |
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