Written by Gary
SpaceX Starship prototype crashes during landing attempt after another clean, uncrewed launch (SPY -0.5%). Biggest midday movers: ViacomCBS, BioNTech, Wells Fargo.
Here is the current market situation from CNN Money | |
North and South American markets finished mixed as of the most recent closing prices. The Bovespa gained 1.21%, while the IPC led the S&P 500 lower. They fell 1.14% and 0.06% respectively. |
What Is Moving the Markets
Here are the headlines moving the markets. | |
China Set To Buy 1 Million Bpd Of ‘Cheap’ Iranian Crude This MonthChinas crude oil imports from Iran this month could reach close to 1 million bpd, Reuters reported today, citing trading and analyst sources. That would be almost half the amount Saudi Arabia exports to China. An earlier report by Reuters from the beginning of the month said that China was buying record-high volumes of Iranian crude in anticipation of the Biden Administration lifting sanctions on Tehran. Even India, the report said, started planning for Iranian oil purchases. Later in March, Washington warned China to stop buying oil from | |
U.S. Gasoline Prices Rose For 17 Straight Weeks As Oil RalliedBefore this weeks small decline, U.S. gasoline prices had increased for 17 consecutive weeksthe longest streak of rising national average gasoline prices since 1994, according to EIAs surveys. As of Monday, March 29, the U.S. regular retail gasoline prices averaged $2.85 per gallon, when it dropped two cents compared to the previous week for the first weekly decline since November 2020. It was in November that crude oil prices started to rise following the first good news about vaccine candidates. Prices have increased through | |
Oil Drops As Suez Canal Shipping ResumesOil prices fell early on Tuesday as the Suez Canal reopened for ship traffic after a week-long blockage, while rising U.S. dollar put further downward pressure on crude. As of 9:36 a.m. EDT on Tuesday, WTI Crude prices were down 1.62 percent at $60.52 and Brent Crude was trading down 1.35 percent on the day at $64.06. Oil prices were also reacting to a potentially bearish signal about U.S. demand, after CDC Director Dr. Rochelle Walensky said on a news conference on Monday that the United States was headed to impending doom with the | |
Saudi Arabia Ready To Extend Huge Oil Cuts Into JuneSaudi Arabia is reportedly ready to extend current OPEC+ production cuts over May and June and also keep cutting 1 million bpd in oil output unilaterally, according to an unnamed source who spoke to Reuters. OPEC+ hasn’t significantly eased oil production since January when the collective output was increased by 500,000 bpd from 7.7 million bpd in December to 7.2 million bpd. Considering the still weak global demand, OPEC+decidedin January to give Russia and Kazakhstan small increases for February and March, keeping overall production | |
Why The Worlds Largest Oil Company Won’t Cut DividendsDespite a 44 percent drop in its 2020 profits, the Saudi Arabian government has instructed majority-state-owned Saudi Aramco to stick to the US$75 billion per year dividend payout for shareholders that it pledged at the time of the companys initial public offering (IPO) in December 2019. Sticking to such a huge dividend payout a guaranteed US$18.75 billion paid every quarter has necessitated a significant cut in Aramcos capital expenditure in the coming year that will damage the companys prospects for growth | |
Canadas Oil Crisis Could Hurt U.S. ConsumersJob losses, a chronic pipeline capacity shortage, a “bill for spills”, and a carbon tax – these are just some of the problems that the Canadian energy industry is wrestling with right now and are likely to continue wrestling with for the observable future. While some of these problems are shared by much of the global oil industry, some are uniquely Canadian and make the industry’s future quite murky. Those pesky pipelines Canadian crude oil exports by rail to its main client, the United States, have been on a substantial rise in recent months because | |
SpaceX Starship prototype crashes during landing attempt after another clean, uncrewed launchThe latest SpaceX prototype of its Starship rocket appears to have been destroyed during a landing attempt after a clean launch on Tuesday. | |
Watch SpaceX’s launch and attempted landing of Starship prototype rocket SN11Elon Musk’s SpaceX is preparing to launch the latest prototype of its next-generation Starship rocket on Tuesday. | |
Here’s what post-pandemic travel might look likeAs vaccination rates increase and people venture out of quarantine, here’s how travel has changed and what to expect for vacationing. | |
Crypto investor who bought Beeple’s NFT for $69 million says he would have paid even moreIn his first TV interview, Vignesh Sundaresan, also known as MetaKovan, told CNBC, “This NFT is a significant piece of art history.” | |
Covid cases, vaccinations on the rise as U.S. officials urge continued cautionAs cases rise and vaccinations are administered more rapidly, government officials are urging Americans to continue taking Covid-19 precautions. | |
U.S. announces plans to ramp up offshore wind capacity in a big wayThe U.S. wants to expand its offshore wind capacity to 30 gigawatts by 2030, a move the Biden administration hopes will generate jobs and investments. | |
Meet the full crew of the Inspiration4 mission flying with SpaceX in SeptemberThe Inspiration4 mission, dubbed “the world’s first all-civilian mission” and launching with SpaceX to orbit in September, unveiled the final two crew members. | |
Mutations could render current Covid vaccines ineffective in a year or less, epidemiologists warnMutations of the coronavirus could render current vaccines ineffective within a year, according to a survey of experts. | |
Eli Manning talks BBQ and life after footballThe former Giants quarterback says he is busier than ever in retirement working with sponsors, coaching sports and learning about the business world. | |
Virgin Galactic unveils ‘VSS Imagine,’ the first of its next-generation spaceship seriesThe rollout of VSS Imagine gives the space tourism company a second spacecraft to begin testing. | |
Aviation start-up Lilium to go public through SPAC deal with ex-GM executiveThe transaction gives the combined company an enterprise value of $2.4 billion and an equity value of $3.3 billion. | |
Berlin Halts AstraZeneca Jab As Germany Weighs Limiting It To Older PatientsBerlin Halts AstraZeneca Jab As Germany Weighs Limiting It To Older Patients The spread of SARS-CoV-2 and the confirmed “mutant” strains has accelerated (though daily numbers remain well below their record highs reached in late January) over the past month, and just after the European Union finally reached a deal with the UK to try and ensure vaccine “reciprocity” (at least for developed, wealthy, western countries). But more than a week after troubled vaccine-maker AstraZeneca released a revised analysis of its Phase 3 research following a squabble with an obscure US regulator, German Capital Berlin has just announced that it’s banning jabs going to patients over the age of 60. The reason? New research from a team of German scientists suggesting that there is indeed a link between the AstraZeneca jabs and the dangerous blood clots that have killed a small handful of patients in Europe. To arrive at this conclusion, the team examined 9 cases of the rare blood clots isolated in Austria and Germany. The 9 patients (8 female; median age, 36 [range, 22 “49) presented with thrombosis beginning 4 to 16 days post-vaccination: 7 patients had cerebral venous thrombosis (CVT), 1 had pulmonary embolism, and 1 had splanchnic vein thrombosis and CVT. Ultimately, 4 patients died. | |
Some NFT Sales Could Be Illegal: SEC Commissioner Hester PeirceSome NFT Sales Could Be Illegal: SEC Commissioner Hester Peirce Authored by Will Gottsegen via Decrypt.co, In brief SEC commissioner Hester Peirce – sometimes known as œCrypto Mom – said investors should be wary of creating unregistered investment products with NFTs. Fractionalized NFTs could potentially be securities, she said. The hype around NFTs, or non-fungible tokens, refuses to die down, and regulators are taking notice. SEC commissioner Hester Peirce, affectionately known as “Crypto Mom” within the cryptocurrency industry, warned investors yesterday that some NFTs could be considered unregistered securities under certain circumstances.
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China Furious As 1st US Ambassador To Visit Taiwan Since 1979 Calls It A “Country”ÂChina Furious As 1st US Ambassador To Visit Taiwan Since 1979 Calls It A “Country” Despite repeat warnings out of Beijing for Washington to stop “playing with fire” in its support to pro-democracy and independence forces in Taiwan, on Monday into Tuesday a US ambassador visited the island, marking the first time an American ambassador made an official visit to Taiwan in 42 years. Palau John Hennessey-Niland is the ambassador to the tiny country of Palau, an archipelago of over 500 islands in the Micronesia region in the western Pacific Ocean. The country is among 15 nations that formally recognize Taiwan over China. Amb. Hennessey-Niland accompanied a delegation led by Palaun President Surangel Whipps Jr. to Taipei early this week. Palau President Surangel Whipps, Taiwan foreign minister Joseph Wu and US Ambassador to Palau John Hennessey-Niland on Monday. Reuters As Reuters underscores, he’s now “the first US ambassador to visit Taiwan in an official capacity since former Pre … | |
24 World Leaders Call For More Globalism In Wake Of Pandemic24 World Leaders Call For More Globalism In Wake Of Pandemic Authored by Steve Watson via Summit News, Twenty four world leaders have signed a letter calling for more globalism to combat future pandemics, citing the the coronavirus outbreak as an opportunity to consign nationalism to the dustbin of history. UK prime minister Boris Johnson, German chancellor Angela Merkel, and French president Emmanuel Macron are the leading figures behind the pledge, with 21 other heads of state signing the letter. It states that œnobody is safe until everyone is safe, and that a œglobal community must be further implemented in order to combat ‘inevitable’ future pandemics.
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Liberty Steel nationalisation ‘an option’ to save jobsBusiness secretary concerned about “opaque” nature of ownership but won’t rule out public purchase. | |
Easter egg sales ‘soar by almost 50%’Spending on Easter eggs is up by almost £50m, research suggests, as people prepare for weekend celebrations. | |
Goldman Sachs managers paid for hampers for staffManagers at the investment bank have paid for sympathy hampers to be sent to over-worked employees. | |
Comeback kid! Value quants take Wall Street by storm with best run since 2000œThere’s still a huge opportunity for upside in value, said the chief investment officer at QMA, PGIM’s systematic unit. œIf we really extrapolate the trends of who the winners were in the middle of 2020, we’d basically all be working for Amazon. The economy is broader than that. | |
Archegos-linked stocks advance as volatility comes downViacomCBS Inc. rose 2.1% as of 9:33 a.m. in New York following its weeklong plunge, with Discovery Inc. and Tencent Music Entertainment Group both climbing more than 4%. | |
Firms mop up record Rs 1,88,900 cr in equity capital this fiscalAccording to data compiled by PRIME Database on Tuesday, the previous best was in 2017-18 when companies had mopped up Rs 1,75,680 crore. | |
S and P CoreLogic Case-Shiller 20 City Home Price Index January 2021 Year-over-Year Growth ContinuesWritten by Steven Hansen The non-seasonally adjusted S and P CoreLogic Case-Shiller home price index (20 cities) year-over-year rate of home price growth continues. The index authors stated, “January’s performance is particularly impressive in historical context. The National Composite’s 11.2% gain is the highest recorded since February 2006, just one month shy of 15 years ago.”. | |
Jeff Reeves’s Strength in Numbers: Nine SPACs with big money and bigwigs behind them, and what they soon could be buyingFounders Fund’s Peter Thiel, Altimeter’s Brad Gerstner and Guggenheim’s Todd Boehly are connected to some of the most talked-about special purpose acquisition companies. | |
Commodities Corner: Cocoa eyes lowest finish since November; coffee loses over 3%Cocoa and coffee futures suffer declines of more than 3% on Tuesday, with concerns surrounding demand for the commodities putting prices for cocoa on track to post their lowest settlement since early November. | |
NewsWatch: ‘Potential buyers will face new challenges’: Home prices rise at breakneck pace, but some economists say it may not lastIn Phoenix, Ariz., home prices have skyrocketed nearly 16% over the past year — complicating attempts by house hunters to find a home amid rising interest rates. |
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