Written by Gary
US vaccination pace holds above 3 million shots per day for two weeks straight (SPY +0.6%). More wealthy investors are going to cash, but millionaire bears are still in the minority
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. | |
OPEC+ Unlikely To Drastically Change Oil Pact Next WeekThe OPEC+ group is unlikely to make any material changes next week to the plans to ease the production cuts over the next three months, Russias Deputy Prime Minister Alexander Novak told reporters in Moscow on Wednesday. OPEC+, which decided on April 1 to gradually return over 1 million barrels per day (bpd) on the market between May and July, has the next meetings of the Joint Ministerial Monitoring Committee (JMMC) and the ministers scheduled for April 28. We have a meeting planned at the end of April to review the market situation | |
Reinstated Lockdowns Threaten Indias Oil Demand RecoveryAmid record daily new COVID cases and reinstated lockdowns in populous cities, Indian refiners have started to cut oil processing rates as fuel demand in the worlds third-largest crude importer has started to slip this month. India is now the second-worst affected country by the coronavirus after the United States and ahead of Brazil. India has been reporting record daily new cases in recent days. On Monday, the capital New Delhiannounceda six-day lockdown as hospitals became overwhelmed with patients with severe COVID | |
Oil Prices Steady Despite Surprise Crude BuildCrude oil prices saw a tiny dip after the Energy Information Administration reported an inventory build of 600,000 barrels for the week to April 16. This compared with a decline in inventories of 5.9 million barrels for the previous week and analyst expectations for a draw of 2.86 million barrels. A day earlier, the American Petroleum Institute reported a modest inventory build of less than half a million barrels. In gasoline, the EIA estimated an inventory increase of 100,000 barrels for the week to April 16, versus a build of 300,000 barrels | |
IEA: Post-Pandemic Jump In Energy Demand To Drive Emissions Sharply HigherA post-pandemic jump in energy demand globally will drive carbon emissions sharply higher this year, the International Energy Agency said in its flagship report Global Energy Review. Energy demand will rise by 4.6 percent in 2021, the IEA said, as economies recover from the pandemic. This will more than make up for the 4-percent contraction in global energy demand last year, the agency noted. Most of the energy demand growthsome 70 percentwill come from Asia. The energy demand growth will come with an increase in carbon emissions, | |
China Single-Handedly Props Up Oil PricesWith India in the clutches of a new wave of Covid-19 infections that has all but locked the country down, China has remained the one big oil consumer that is thriving and driving demand up. Bloomberg reports that factory activity in Asias powerhouse has returned to pre-pandemic levels. So, too, has traffic. Both are strong, bullish factors for oil prices. One analyst told the news outlet that demand for oil in China next month could be as much as 20 percent higher than it was in May 2019, thanks to these developments. China has been stocking | |
Why Natural Gas Wont Be Replaced Anytime SoonGas will be a repeat of coal but quicker. When we look at power generation, you can see that going really, really quickly. This is what the head of company search at the Carbon Tracker Initiative told Bloomberg this month in comments on the future of natural gas in Europe, as news outlet reported that some large European utilities are having trouble finding buyers for their gas-fired plants. The report cites Spanish Iberdrola as struggling to find buyers for gas plants. It also cites Italys Enel as planning to add more gas-fired | |
Fire breaks out at Baltimore’s iconic Domino Sugar factoryA fire at the Domino Sugar plant sent white smoke billowing over the Inner Harbor in Baltimore on Tuesday. | |
Formula 1’s expansion in the U.S. is in motion, now it needs a star American driverThe global motorsport owned by Liberty Media agreed to add a second race to the U.S. with a 10-year deal to run in Miami around Hard Rock Stadium. | |
UAE floats movement restrictions on unvaccinated people, Abu Dhabi changes course on vaccine rolloutThe UAE has overseen the second-fastest vaccination campaign in the world after Israel. | |
FDA finds poor conditions at Baltimore plant that ruined millions of doses of J&J Covid vaccineThe FDA said a Baltimore plant that ruined millions of Johnson & Johnson Covid-19 vaccine doses was unsanitary and unsuitable to manufacture the shots. | |
After Chauvin verdict, business leaders speak out saying fight for racial justice must continueSome of the country’s top CEOs and tech executives shared their reactions to the Derek Chauvin verdict on Twitter, Facebook and in letters to employees. | |
Cadillac rolls out $60,000 Lyriq EV as it phases out gas enginesThe Lyriq, Cadillac’s first EV, marks the beginning of the end of vehicles with traditional internal combustion engines for the brand. | |
Maserati’s struggles to become a true luxury contenderMaserati is more than 100 years old. Once a great Italian brand, it’s road to success has been rocky. But it could be a crown jewel of Stellantis. | |
U.S. vaccination pace holds above 3 million shots per day for two weeks straightThe U.S. vaccination pace has held above 3 million shots per day for the last two weeks, according to CDC data published Tuesday. | |
French cosmetics giant L’Oreal targets male beauty with push into new ‘growth engine’ marketL’Oreal’s new South Asia Pacific and Middle East market will account for majority of its new business in the coming decade, with men making up a big part of it. | |
More wealthy investors are going to cash, but millionaire bears are still in the minorityMore millionaire investors are going to cash and are less bullish now than when the year began, but a majority of wealthy still expect S&P 500 stock gains. | |
Here’s where Americans are planning to go for that summer vacationSummer is coming, and Americans are itching to go on vacation. Here’s a look at the top 10 most popular destinations, and 11 emerging ones to watch. | |
These stocks could emerge as big winners from premium retail’s new frontier ” your living roomHigher-end retailers are taking unprecedented steps to bring the consumer experience to homes, according to Loup Ventures’ Gene Munster. | |
Loser-League – Dimon Defeated In Plan To Break Up ‘The Beautiful Game’Loser-League – Dimon Defeated In Plan To Break Up ‘The Beautiful Game’ From the grassrootiest of supporters to some of the game’s greatest players, there was much rejoicing overnight as all six English teams abandoned the newly-formed European (Soccer) Super League, implicitly killing the project before it got off the ground. While owners’ greed, ego, and efforts to ‘Americanize’ the world’s most popular sport were blamed, there is another that has faced serious condemnation… Jamie Dimon and his firm JPMorgan. Bloomberg summed things up perfectly by writing:
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REvil Group Extorts Apple In $50 Million Ransomware Hack Of Supplier QuantaREvil Group Extorts Apple In $50 Million Ransomware Hack Of Supplier Quanta Hackers behind the REvil ransomware have claimed to have stolen Apple’s blueprints for its latest products. REvil, also known as Sodinokibi, published a blog post that said it commandeered Apple product data after infiltrating the computer network of Quanta Computer Inc. This Taiwanese company is a key supplier to Apple and is the largest laptop manufacturer in the world. In a message posted on REvil’s ‘Happy Blog,’ a dark web portal where the ransomware gang terrorizes victims and leaks data, they said Quanta and Apple have so far declined to pay to retrieve the stolen data. Shortly after, hackers released Macbook schematics and threatened to publish new data every day until both companies paid a multi-million dollar ransom for the return of the data. Here’s part of the REvil’s ‘Happy Blog’ post:
The post went on to say that it has “large quantities of confidential drawings and gigabytes of personal data with several major brands, adding that “we recommend that Apple buy back the available data by May 1. More and more files will be added every day.” REvil appears to have published Macbook … | |
“Get The F**k Out Of New York!”: BLM Protesters Demand White Restaurant Owners Leave The City“Get The F**k Out Of New York!”: BLM Protesters Demand White Restaurant Owners Leave The City Authored by Paul Joseph Watson via Summit News, BLM protesters in New York reacted to the Derek Chauvin verdict by harassing diners and demanding white owners of restaurants œget the f**k out of the city. Unruly protests broke out in numerous major cities last night despite Chauvin being convicted on all counts. A video shows BLM agitators yelling at diners, œGet the f**k out of New York! We don’t want you here.
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Ether Outperforms Bitcoin; Guggenheim, JPMorgan Fear “Major Correction” In Crypto (Again) As Op-Ex LoomsEther Outperforms Bitcoin; Guggenheim, JPMorgan Fear “Major Correction” In Crypto (Again) As Op-Ex Looms The last month has seen Ethereum significantly outperform Bitcoin and today is no different as Source: Bloomberg Some context for that move shows ETH is once again at a critical level relative to BTC… Source: Bloomberg As CoinTelegraph notes, one main reason why the altcoin market is rallying is because altcoins generally saw sharper drops than BTC following the Coinba … | |
Reopening: Gym-goers rack up millions of workouts post-lockdownThe PureGym and David Lloyd chains report huge numbers of visits after restrictions eased in England. | |
House sales and prices see early spring surgeUK property transactions in March hit the highest monthly level since modern records began in 2005. | |
Higher petrol prices drive up cost of living in MarchThe cost of living rose to 0.7% in March, from 0.4% in February, as fuel, transport and clothes prices increased. | |
Enjoy bizarre Dogecoin party till it all goes very wrongStock market operators who have been around for a few cycles know the sentiment implications of something like Dogecoin: time to grab the canned goods and head for the bunker. | |
ICICI Securities Q4 results: Net profit jumps 111% to Rs 329 cr; revenue rises 53%Consolidated profits jumped 111% to Rs 329 crore on account of growth in revenue and improvement in margins. Cost to income ratio stood at 40% in the March 2021 quarter, against 57% in the March 2020 quarter. | |
FPIs dump finance stocks amid rising Covid infections, increase exposure to defensive betsThe selling pressure seen in the first 15 days of April was the highest on a fortnightly basis since the second half of March 2020, when FPIs sold $1,453 million (Rs 10,600 crore) worth of financial stocks. | |
BookWatch: This no-nonsense, futuristic technique will help you set a realistic financial goal ” and stick to itFuturecasting — imagining that future you in detail — can be a powerful financial tool. | |
NewsWatch: U.S. stocks edge higher despite worries over COVID, NetflixU.S. stocks edged higher by mid-morning Wednesday despite concerns over COVID-19 infections and Netflix Inc. reporting disappointing subscriber numbers. | |
: How tiny ‘beach huts’ became the hottest commodity in British real estateThe cost of renting a beachside cabana is now more expensive than leasing a home in one of London’s most exclusive neighborhoods. |
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