14Apr2021 Market Close: Wall Street Closes Mostly Lower As Fed Beige Book Points To Moderate Economic Growth, DOW Up 54 Points, Nasdaq Down 1.0%, Bitcoin Slips 62000, Solar Projects Becoming More Expensive

Written by Gary

The overall trade deficit expanded by 87% in February to $71.1 billion (SPY -0.3%). Dollar dumps amid COIN carnage, Archegos Angst, & Ignited Inflation.

The Market in Perspective

Here are the headlines moving the markets.
	Lithium Prices Could Triple As EV Production Soars The global market share of electric vehicles is set to rise so quickly that battery manufacturers will not be able to meet production requirements, a Rystad Energy analysis shows. The reason is that the mining capacity of lithium a key ingredient in EV-purposed batteries will fall short of demand unless investments in new mines accelerate. Under the current pipeline, capacity deficits could triple lithium prices towards the end of this decade. While todays lithium mining capacity can comfortably satisfy demand from the electric
	The U.S. Power Sector Has Reduced Emissions By 52% The U.S. power sector has reduced emissions by 52 percent from levels projected 15 years ago, and is now halfway to zero, a New Berkeley Lab study showed, as the Biden Administration is targeting to decarbonize the electricity grid by 2035. The new research from the Department of Energys Lawrence Berkeley National Laboratory (Berkeley Lab) analyzed historical trends and EIAs projections for emissions in the power sector to see how much progress has been made. Business-as-usual projections saw annual carbon dioxide
	The World Still Needs Hundreds Of Billions Of Barrels Of Oil Has peak oil demand already come and gone? Thats an exceptionally hard question to answer. There are some experts that say unequivocally, yes. They claim that peak oil is already upon us, thanks to the crushing blow that the Covid-19 pandemic dealt to global oil demand as well as the ever-escalating worldwide transition toward clean energy. But there are just as many who say that the worlds thirst for oil still has a long way to go before we hear its swan song. Regardless of whether oil demand has peaked or plateaued during the pandemic,
	The Battle For European Oil Markets Is Heating Up Saudi Arabias state oil giant Aramco, the worlds largest oil exporter, will meet only part of the nominations for crude from the European and Mediterranean regions for loading in May, refiners have told Argus. While three refiners have been given all the nominations they had put through, three others will receive crude loading in May below the volumes they had nominated, Argus said. Saudi Arabia is competing, among others, with Russias Urals grade in the European markets. Earlier this month, Aramco lifted its
	Why Are Solar Projects Becoming More Expensive? The cost of building solar farms has been declining for several years, making solar power increasingly popular with projects of all sizes mushrooming around the world. The tide is now turning, however, as new utility PV projects are starting to become more expensive due to increasing costs for modules, shipping, and labor, a Rystad Energy report reveals. Rising commodity prices and shipping costs are eroding utility PV project margins, potentially leading to delays for developments nearing financial close. Modules account for the largest single
	From JFK To Trump: U.S. Oil Production By President Over the past 60 years, U.S. oil production has seen its ups and downs. From the decline that began in 1970 through the fracking boom of the 2000s, U.S. presidents have overseen a wide range of oil production changes. As I have explained previously, a president often benefits from the actions of his predecessor. For example, President Carter benefitted from President Nixons decision to approve the Alaska Pipeline, and Presidents Obama and Trump benefitted from the pro-fracking regulations of the President George W. Bush administration. Thus,
	March retail sales are expected to have surged as consumers spent $1,400 checks March retail sales are expected to be strong, and some economists say stimulus checks may have contributed to an even bigger gain of 10% or more.
	Open middle seats could reduce Covid exposure of maskless air travelers, CDC study shows A CDC and Kansas State University study found that the risk of exposure to Covid-19 could be as much as 57% lower if airlines keep middle seats open.
	Hollywood mourns the closure of the Cinerama Dome, but there’s hope for the landmark Hollywood was dealt a crushing blow earlier this week when Decurion announced that its Pacific Theatres and ArcLight Cinema locations would close permanently.
	American Airlines ramps up domestic summer schedule to nearly pre-pandemic levels American Airlines plans to grow its summer U.S. domestic capacity to more than 90% of 2019 levels.
	‘We’re just getting started’ ” Novogratz says bitcoin value only a fraction of global wealth Ahead of Coinbase’s market debut, bitcoin bull Mike Novogratz told CNBC that wealth generated by cryptocurrencies will continue to increase.
	White House says U.S. is working to accelerate doses of Pfizer, Moderna Covid vaccines Jeff Zients said the FDA’s recommended pause on J&J’s vaccine would not have a “significant impact” on the administration’s vaccination program.
	Stocks making the biggest moves midday: Goldman Sachs, Bed Bath & Beyond, Moderna and more These are the stocks posting the largest moves in midday trading.
	The Cheesecake Factory tries to bounce back from Covid-19 With Covid-wary consumers pivoting to takeout and delivery, casual-dining restaurants like The Cheesecake Factory have struggled with falling sales.
	Restaurants see diners return, but feel a labor crunch as hiring becomes a top priority “There is a dearth of labor in the restaurant business and in the service business like we have never seen,” said Charles Watson, Tropical Smoothie Cafe CEO.
	India becomes 60th country to authorize use of Russia’s Sputnik V vaccine The authorization comes as India faces a devastating new surge of Covid infections.
	For anyone watching Bed Bath & Beyond CEO Mark Tritton’s turnaround, patience is going to be key Investors were looking for more green shoots in Bed Bath & Beyond’s latest earnings.
	IRS is probing the dark web to look for cryptocurrency and NFT tax evasion, says IRS commissioner IRS Commissioner Charles Rettig said the U.S. fails to collect as much as $1 trillion in taxes owed each year, in part due to the explosion in cryptocurrencies.
	Watch live: CDC panel debates use of J&J Covid vaccine after rare blood clot issue affects 6 women The Advisory Committee on Immunization Practices will review data on the women who developed a rare blood-clotting disorder.
	Dollar Dumps Amid COIN Carnage, Archegos Angst, & Ignited Inflation Dollar Dumps Amid COIN Carnage, Archegos Angst, & Ignited Inflation While soaring import and export price inflation was enough to spook some… Source: Bloomberg All eyes were on Coinbase’s IPO (direct listing). The stock opened at $381, spiked to $429.54, then tumbled back below it’s open Still could have been worse, anyone else remember the BATS IPO in 2012? Probably the most disastrous IPO of all time, BATS, an alternative stock exchange, was forced to pull out after a bizarre technological glitch in its own exchange! Trading was halted a …
	Watch: Rand Paul Demands “Petty Tyrant” Fauci Be “Removed From TV For Fear Mongering” Watch: Rand Paul Demands “Petty Tyrant” Fauci Be “Removed From TV For Fear Mongering” Authored by Steve Watson via Summit News, Appearing on Fox Business Tuesday, Senator Rand Paul made an impassioned plea for Anthony Fauci to be taken off the airwaves for continually ‘fear mongering’. Paul claimed that Fauci has ceaselessly made claims that are not œmatched by the science of his own institute. œI so much think Dr. Fauci should be voluntarily removed from TV because what he says is such a disservice, and such fear-mongering, Paul urged. The Senator pointed in particular to comments made by Fauci earlier this week when he claimed that Americans should still not be socializing together indoors, even if they have been fully vaccinated, comments that contradict CDC findings that vac …
	Egypt Impounds Suez-Blocking Megaship ‘Ever Given’ As Authorities Seek $900 Million Compensation Egypt Impounds Suez-Blocking Megaship ‘Ever Given’ As Authorities Seek $900 Million Compensation The Egyptian authorities have seized the massive container ship that notoriously blocked the Suez Canal for almost a week as the government demands hundreds of millions of dollars in compensation from its owners.Â This week, an Egyptian court ordered Ever Given’s Japanese owner, Shoei Kisen Kaisha, to pay a whopping $900 million in compensation after the vessel blocked the world’s most important waterway for six days.Â The seizure was firstÂ reportedÂ on Ahram Gate, a state-run website, on Tuesday:Â Lieutenant General Osama Rabie, Chairman of the Suez Canal Authority (SCA), confirmed in a press statement, today, Tuesday, that the Panamanian ship “Evergiven”, which ran aground earlier for six days, was seized for failure to pay an amount of $ 900 million , which is the value of what it caused. The delinquent …
	US Stimmy Checks Support Foreign Manufacturing Economies US Stimmy Checks Support Foreign Manufacturing Economies Via SchiffGold.com, What do you get when you hand AmericansÂ big fat stimulus checksÂ after decades of offshoring the country’s manufacturing economy? Massive trade deficits. The proof is in the numbers. The overall trade deficit expanded by 87% in February to $71.1 billion, according to the latestÂ Census Bureau data. The trade deficit in goods hit another all-time record of $88 billion in February. Imports of goods jumped 10.3% year-on-year $219 billion. Exports of goods sagged 5.2% to $131 billion. In the past, we were told the persistent drop in exported US goods was not a big problem because we can make up for it by exporting services. It hasn’t worked out that way. While t …
	Hundreds lose job in British Gas contracts row Almost 500 engineers have been let go after they refused to sign new contracts forcing them to work more hours.
	Asda to axe 1,200 bakery jobs as shoppers shun loaves The supermarket giant says customers have swapped traditional loaves for speciality breads and wraps.
	Crypto firm Coinbase valued at more than oil giant BP Coinbase, which runs a leading trading platform for Bitcoin, hits nearly $100bn in stock market listing.
	Ahead of Market: 11 things that will decide stock action on Thursday Mazhar Mohammad, Chief Strategist at Chartviewindia.in said, from a risk management perspective, one can look for relief rally by placing a stop loss below 14,300 level on a closing basis.
	Infosys Q4 PAT falls 2.6% QoQ, misses estimate; firm to buy back shares at 25% premium Infosys reported a 2.8 per cent quarter-on-quarter growth in consolidated revenues for the quarter to Rs. 26,311 crore, which was slightly lower than analysts’ estimate of Rs. 26,701.8 crore.
	Sebi’s new margin norms hurting commodities more than equities Last year, Sebi decided to make upfront margin collection mandatory to discourage brokers from providing excessive discretionary leverage to their clients.
	April 2021 Beige Book: Growth Improves to “Moderate” Written by Steven Hansen The consolidated economic report from the 12 Federal Reserve Districts (Beige Book) stated: “National economic activity accelerated to a moderate pace from late February to early April”. The previous report stated: “Economic activity expanded modestly from January to mid-February for most Federal Reserve Districts”.
	: Moderna and Novavax added to ‘mix and match’ COVID-19 vaccine trial A major U.K. trial looking at whether COVID-19 vaccines can be safely mixed has been expanded to include shots made by Moderna and Novavax, researchers announced on Wednesday.
	Key Words: ‘We stand for democracy’: Read the statement from top companies and executives opposing voting restrictions Hundreds of major U.S. companies and executives signed a statement opposing laws restricting voter rights, released Wednesday as an ad in major newspapers under the heading œWe stand for democracy. Here’s the full text.
	: Denmark becomes first country to permanently stop use of AstraZeneca vaccine Denmark has become the first country to permanently halt the use of AstraZeneca’s COVID-19 vaccine following its possible link to very rare cases of blood clots.