Written by Gary
One day after the DOW and SP 500 surged to closing records, markets will take a breather (SPY -0.2%). Home price growth reaches 15-year highand Credit Suisse takes $4.7 billion hit.
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. | |
 | Iraq Moves To Exploit Its Massive Natural Gas ReservesOfficial estimates are that Iraqs proven reserves of conventional natural gas amount to at least 3.5 trillion cubic meters (tcm), or about 1.5 percent of the worlds total, placing Iraq 13th among global reserve-holders, with around three-quarters of this figure comprising associated gas that is found in the same reservoirs as oil. The International Energy Agency, though, estimates that ultimately recoverable resources will be considerably larger, at 8.0 tcm, of which around 30 percent is thought to be in the form of non-associated |
| The U.S. Is Losing The Energy Tech War Against ChinaFor years, theU.S. and China have waged war over technology, trade, and capital markets. Tensions between the worlds leading economies reached a fever pitch during former president Trumps term in office, leading to escalating tariffs and trade restrictions. But now, a new revelation will have Washington scratching its head again: China has been vastly outspending the United States in renewable energy R&D. According to BNEF data cited by Bank of America in a recent report, for every dollar that the U.S. spent on renewable |
| Soaring Methane Emissions Suggest U.S. Oil Production Is Bouncing BackU.S. oil production remains about 2 million bpd lower than its pre-pandemic levels. Still, methane emissions are already back to their levels from before the coronavirus. Worrying as this is in itself, it could also threaten energy companies long-term growth prospects because investors priorities are changing. What investors want from oil and gas now is not just stable returns but a lower carbonand methanefootprint. The Financial Times reported recently, citing data from the Environmental Defense Fund, that methane emissions |
| U.S. Energy Consumption Saw Biggest Decrease Ever Last YearTotal U.S. energy consumption last year fell to just 93 quadrillion BTUs, down 7% from the year prior, according to data from the Energy Information Administration (EIA). The decrease is the largest one on recordboth in absolute terms and percentage terms, and can mostly be attributed to the toll that the pandemic took on the United States last year. This brings U.S. energy consumption in 2020 to absolute levels not seen in decades. The next largest decrease in U.S. energy consumption was between 2008 and 2009, when U.S. energy consumption |
| The Worlds Top Solar Firm Joins Hydrogen FrenzyThe largest solar cells and panels manufacturer in the world, Chinas Longi Green Energy Technology, has just registered a hydrogen subsidiary to enter the hydrogen industry, which has been attracting many energy companies lately. According to industry outlet Solarzoom, cited by Bloomberg, Longi Green Energy Technologythe worlds top solar cells and panels manufacturer by market capitalizationregistered last week Xian Longi Hydrogen Technology Co in China. Li Zhenguo, founder and president of Longi |
| Is Venezuela Preparing For A Military Strike On Colombia?Venezuelan President Nicolas Maduro is well-known for his saber-rattling, much of which is designed to distract Venezuelans from the severe economic crisis sweeping the country and the brutality of his autocratic regime. In recent weeks Venezuelan military and police have been conducting offensive operations in the southwestern state of Apure near the Colombian border. Aside from the humanitarian toll they are taking on the local civilian populace, they have sparked fears that Caracas is once again ramping up pressure on its perceived mortal enemy |
| Topps to go public through SPAC deal as baseball card company ventures into NFTsTopps, which is best known for its baseball cards and Bazooka candy line, has agreed to go public through a merger with a special purpose acquisition company. |
| Qatar Airways CEO says Covid vaccines likely to be required for travel: ‘This will be the trend’When asked whether coronavirus vaccinations will be necessary in order to fly, the CEO said: “I think this will be the trend initially.” |
| Goldman Sachs, Starbucks among organizations unveiling a pledge to close racial wealth gap in U.S.The NinetyToZero initiative, also backed by the Robin Hood foundation and other groups, is the latest corporate action focused on fighting racial inequality. |
| United Airlines to open flight school later this year in hiring push, plans to increase diversityUnited started accepting applications for its flight-training academy and aims to train 5,000 pilots by 2030, half of them women or people of color. |
| 5 things to know before the stock market opens TuesdayU.S. stock futures fell Tuesday, one day after the Dow and S&P 500 surged to closing records. |
| Airline stocks in Asia-Pacific boosted by Australia-New Zealand travel bubble, rising optimismA number of developments, including an air travel bubble between Australia and New Zealand, buoyed airline stocks in Asia-Pacific. |
| Norwegian Cruise Line CEO on how the company’s cruise ships can safely set sail once againNorwegian Cruise Line CEO Frank Del Rio said he is confident the cruise line operator can safely set sail this summer for the first time in more than a year. |
| Director Search CEO sees opportunity to diversify corporate boardsCorporations have roughly 45,000 exec searches ahead as the workforce ages. Director Search CEO Ken Taylor said there’s no excuse not to prioritize diversity. |
| March jobs report gives the Fed room to keep interest rates low, Jim Cramer says“Professional money managers crave growth without wage inflation, and that’s just what we got ¦ nirvana for stocks,” the “Mad Money” host said. |
| Fauci warns against relaxing public health measures as summer approachesDr. Anthony Fauci warned Monday that Americans should still be vigilant and adhere to public health measures as warmer summer months approach. |
| CEO of Kayak’s parent says vaccine passports would make it safer for people to travelGlenn Fogel, CEO of Booking Holdings, said he thinks vaccine passports would make it safer for people to return to travel as more people get vaccinated. |
| Airline website booking functions restored after Google software issueFlight-search and booking functions on several major airlines’ websites have been restored after being down Monday due to problems with Google software. |
| Local bar opening in rural Illinois was tied to at least 46 new Covid cases, CDC saysThe case provides more evidence of how weddings and gatherings at restaurants and nightclubs have the potential to become super-spreading events. |
| MLB Moves All-Star Game From Atlanta To One Of The Whitest Cities In AmericaMLB Moves All-Star Game From Atlanta To One Of The Whitest Cities In America Authored by Bryan Preston via PJMedia.com, Major League Baseball has announced that it is playing the 2021 All-Star Game in Denver, Colo. instead of Atlanta, Georgia.
The politics can’t be lost here, since MLB made a political decision to side with Joe Biden and the left’s lies regarding Georgia’s new election law. |
| Biden Moving Deadline To Have All Americans Eligible For Vaccine To April 19Biden Moving Deadline To Have All Americans Eligible For Vaccine To April 19 Joe Biden will announce on Tuesday that he is moving up his target for all American adults to become eligible to receive a coronavirus vaccine by almost two weeks to April 19, CNN reported citing a White House official said. Biden is also expected to announce that the United States has administered 150 million COVID-19 vaccine doses, putting the admin on track to meet or exceed the goal of administering 200 million doses in Biden’s first 100 days in office. CNN first reported Biden’s planned announcements on Tuesday. The president is scheduled to visit a vaccination site at Virginia Theological Seminary in Alexandria, Va., Tuesday afternoon before returning to the White House to give remarks on the state of vaccinations. Biden said during his first primetime address last month that he would urge states to make all adults eligible to receive a coronavirus vaccine by Ma … |
| Archegos Fallout: Credit Suisse Cuts Dividend, Slashes Buybacks; Headed For 2nd Straight Quarterly LossArchegos Fallout: Credit Suisse Cuts Dividend, Slashes Buybacks; Headed For 2nd Straight Quarterly Loss Embattled Swiss bank Credit Suisse finally dumped its last remaining blocks of stocks tied to the implosion of hedge fund (excuse us, “family office”) Archegos Capital Management on Tuesday following the close of markets in New York. As investors waited to learn more, the bank told the financial press that this would be the last sale of the so-called Archegos stocks. Hours later, a flurry of anonymously-sourced reports hit the tape claiming that the Swiss bank would be firing its top risk and compliance officer, along with the head of its investment bank (a white woman and asian man, respectively), and that its losses from the Archegos fiasco would total $5 billion, $1 billion more than initial estimates.
On Tuesday, CS confirmed all this and more, when it announced a bevy o … |
| US Futures Dip As European Stocks Finally Erase All Pandemic Losses, Hit Record HighUS Futures Dip As European Stocks Finally Erase All Pandemic Losses, Hit Record High Global stocks hit record highs on Tuesday, supported by strong economic data from China and the United States, although US equity futures slipped as concern China is curtailing loan growth tempered optimism stoked by the U.S. economic rebound. Nasdaq underperformed as investors locked in some gains on renewed reflation concerns hopes while currency and bond markets paused for breath after a month of rapid gains in the dollar and Treasury yields. At 715 a.m. ET, Dow E-minis were down 41 points, or 0.11%, S&P 500 E-minis were down 8 points, or 0.20% and Nasdaq 100 E-minis were down 11.5 points, or 0.23%.
Apple stock dipped after a rare downgrade from Morgan Stanley cut the price target on the world’s largest company from $164 to $156, citing multiple compression (it kept the Overweight target). |
| IMF forecasts stronger recovery for world economyThe IMF has upgraded both its UK and global forecasts compared with what it projected in January. |
| EasyJet: Two test travel plan is too expensiveThe airline says the cost of pre and post-travel testing could exceed the price of a plane ticket. |
| Peacocks stores back in business but only half will reopenHalf the fashion chain’s 400 stores will reopen, saving 2,000 jobs, but the rest are left behind. |
| 800% return in 3 years! Unlisted Damani stock has analysts hookedAnalysts and dealers in the unofficial market attributed the buoyancy to the 14th IPL edition that kicks off on April 9. |
| What made Adani Ports surge 15%?Adani Ports and Special Economic Zone (APSEZ) on Monday said it has acquired 25 per cent stake of Vishwa Samudra Holdings in Krishnapatnam Port for Rs 2,800 crore. |
| India needs activist investors to monitor local cos, protect investor interests: SebiThe regulator last month made it mandatory for mutual funds to vote in all resolutions of their investee companies from April 2022. |
| February 2021 CoreLogic Home Prices: Home Price Growth Reaches 15-Year HighWritten by Steven Hansen CoreLogic’s Home Price Index (HPI) home prices reaching the highest annual gain since April 2006.
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| Economic Report: IMF lifts outlook for global and U.S. growthThe International Monetary Fund on Tuesday raised its global economic outlook due in large part to a brighter picture in the U.S. |
| : ServiceNow, Qualtrics reach strategic deal to improve customer service, employee productivityServiceNow Inc. and Qualtrics International Inc. on Tuesday announced a strategic partnership to help large companies improve operations through real-time customer and employee feedback. |
| Dispatches from a Pandemic: What you need to know about COVID-19 vaccine passports ” and the ‘double privilege’ dilemma they raise for societyIn the U.S. nearly 70% of more than 52 million who have been fully vaccinated against coronavirus are white and non-Hispanic. |
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