Written by Gary
SP 500 CoreLogic Case-Shiller 20 City Home Price Index February 2021 Year-over-Year Growth Continues (SPY flat -0.04%). Brazil Reports 6% Oil Output Decline In Q1.
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. | |
Pandemic Triggers Worker Shortage At Indian RefinersSome Indian refiners are being forced to delay maintenance at their facilities because of the surge in Covid-19 cases in the country, which has had refinery workers fleeing to their homes or falling ill. Bloomberg reports, citing anonymous sources with knowledge of the situation, that Bharat Petroleum and Indian Oil Corp., both refining heavyweights, have deferred their planned shutdowns because of a shortage of workers. India has been reporting staggering numbers of new daily infections, which on Monday hit a global record of almost 353,000. The | |
Can Big Oil Lure Investors Back?The worlds largest oil companies are widely expected to start reporting this week profits for the first quarter of 2021 after a nightmare 2020 that forced some of them to cut dividends and saddled most with increased debt loads. BP, Shell, Total, Exxon, and Chevron are all forecast to report strong cash flows this week thanks to the higher oil prices in Q1 compared to the average price last year. Despite the expected significant improvement in cash flow generation, many investors are not convinced that Big Oil is a sound investmentneither | |
Brazil Reports 6% Oil Output Decline In Q1Crude oil production in Brazil averaged 2.8 million barrels daily in the first quarter of 2021, the countrys National Petroleum Agency reported, as quoted by Reuters. This was down 6 percent on the first quarter of 2020, the report said. The output of state-owned Petrobras fell by 5 percent on the year in the first quarter of 2021, to 2.1 million bpd. The state major produces some 75 percent of Brazils total oil output. Last year, Brazil became one of the very few winners from the pandemic and the crisis it caused on oil markets. | |
Energy Secretary Urges Oil Industry To Not Become KodakOil companies in the United States need to diversify or risk falling behind during the energy transition, Energy Secretary Jennifer Granholm said during a virtual event organized by Politico. “The bottom line is you have got to move,” Granholm said, as quoted by Argus. “You cannot hang on and be the Kodak or the Blockbuster Video of the energy world. You have got to diversify.” Kodak and Blockbuster Video are perhaps the most notorious instances of companies that did not sense which way the wind was blowing and fell off the race track. According | |
Tanker Collision Off Major Chinese Hub Causes Million Barrel Oil SpillA tanker spilled oil into the Yellow Sea offshore the Qingdao port in China on Tuesday after a bulk carrier collided with the A Symphony Suezmax tanker, Goodwood Ship Management, the manager of the tanker, told Reuters. The potential damage is a million barrels spilled. Apart from potentially causing environmental damage, the collision and the oil spill could delay operations at the Qingdao port, the key oil-receiving hub in the Shandong province, home to most of the independent refiners in China. According to Goodwood Ship Management, the bulk | |
Oil Prices Climb As OPEC+ Holds Firm On Output CutsThe OPEC+ group will not hold a full ministerial meeting on Wednesday as planned, delegates at the Joint Ministerial Monitoring Committee (JMMC) agreed at their meeting on Tuesday, signaling confidence in the current plans to ease the production cuts as of May despite surging COVID cases in major oil importer India. Oil prices rose on Tuesday morning on the news coming out of Vienna that shows OPEC+ believes the market will be able to accommodate the higher oil supply as of May 1, despite the worsening of the COVID situation in the worlds | |
CDC says fully vaccinated people can exercise, hold small gatherings outdoors without masksThe CDC said fully vaccinated people can meet outdoors in small groups without masks, but did not define how big those gatherings can be. | |
Ford takes steps toward making battery cells for electric vehicles, following Tesla and GMFord plans to invest $185 million into a new battery lab as a step toward manufacturing its own battery cells for electric vehicles. | |
NHL moving to Turner Sports is $1 billion risk-reward for hockeyThe NHL’s new seven-year agreement with AT&T-owned WarnerMedia is worth over $1 billion. | |
Reopening plays still have room to run, market analysts say, as new ETFs launchWith new hotel- and restaurant-based exchange-traded funds hitting the market, four analysts weigh in on the lasting power of the reopening trade. | |
FCC approves SpaceX change to its Starlink network, a win despite objections from Amazon and othersThe Federal Communications Commission approved SpaceX’s proposed modification of its Starlink satellite license on Tuesday, a win for Elon Musk’s network. | |
How death and funerals are changing in the U.S.Covid-19 has killed more than 500,000 Americans ” pushing morgues, mortuaries and funeral homes to their limits as they try to react to surging demand. | |
Pfizer’s new at-home pill to treat Covid could be available by end of the year, CEO hopesThe company in March began an early stage clinical trial testing a new antiviral therapy for Covid. | |
Robert Johnson calls on firms to put voting rights energy into capital access for Black Americans“Voting rights without access to capital to build wealth is, in my opinion, an empty cup,” BET founder and entrepreneur Robert Johnson told CNBC. | |
Beyond Meat unveils new version of its meat-free burgers for grocery storesBeyond Meat will launch the latest version of its meat-free burger patties in grocery stores in early May. | |
Crocs shares soar as shoemaker raises 2021 sales outlook, sees growth of 40% to 50%Crocs shares surged after the shoemaker raised its revenue outlook for the full year and reported record first-quarter sales. | |
Toyota truck subsidiary and EV start-up ink deal for electric trucksHino and REE expect to develop their first prototypes by next year. It is unclear when commercial vehicles from the partnership may be on public streets. | |
Being named a UNESCO World Heritage site is a big deal ” so is losing itUNESCO World Heritage sites are, in principle, on the list forever, but failure to comply with conservation protocols can result in being œdelisted.” | |
Millennials are leading a rural revitalization, Tractor Supply CEO says“We saw a 4 point sales penetration change last quarter with the millennial cohort,” said Hal Lawton, chief executive of the farming supplies retailer. | |
‘Health Experts’ Encourage Permanent Mask Mandates As CDC Lifts Outdoor Restrictions‘Health Experts’ Encourage Permanent Mask Mandates As CDC Lifts Outdoor Restrictions Update (1220ET): Just as Fauci had hinted at, fully vaccinated people can venture outdoors without masks, according to updated guidance from the Centers for Disease Control and Prevention issued Tuesday. The guidance applies to fully vaccinated individuals, which health officials classify as two weeks after the second dose of the Pfizer or Moderna vaccines and two weeks after the single-dose Johnson & Johnson vaccine.
Vaccinated people can unmask while: Doing physical activities outdoors alone or with members of your household like walking, running, hiking or biking. Attending a small outdoor gathering either with fully vaccinated people or a mixture of vaccinated and unvaccinated people. Dining at an outdoor restaurant with friends from multiple households. Current guidelines on vaccinated people indoors and traveling still applies. Stay sane America…
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Navy Releases Video Of Iran’s IRGC Harassing US Coast Guard PatrolsNavy Releases Video Of Iran’s IRGC Harassing US Coast Guard Patrols The US Navy’s 5th Fleet has followed up yesterday’s revelation to The Wall Street Journal of a 3-hour swarming incident by Islamic Revolutionary Guard Corps (IRGC) boats of American ships in the Persian Gulf earlier this month by releasing partial video of the dangerous Iranian maneuvers to the public. The incident happened on April 2 but had never been disclosed before Monday. The WSJ described “U.S. Navy officials confirmed that three fast attack crafts and one ship known as Harth 55, a 180-foot, twin-hulled support vessel, swarmed the two Coast Guard ships while they were patrolling international waters in the southern portion of the Persian Gulf.”
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Tucker Carlson Says People Who Wear Masks Outside Should Be MockedTucker Carlson Says People Who Wear Masks Outside Should Be Mocked Authored by Paul Joseph Watson via Summit News, Leftists reacted with fury after Fox News host Tucker Carlson said people who wear masks outside should be mocked and that parents who made their kids wear them were engaging in œchild abuse. Carlson noted that masks were œpurely a sign of political obedience like Kim Il-Sung pins in Pyongyang and that the only people who voluntarily wear masks outside are œzealots and neurotics. He then asserted that the tables should be turned on Biden voters who have been harassing conservatives for almost a year for not wearing a mask in public. œThe rest of us should be snorting at them first, they’re the aggressors ” it’s our job to brush them back and restore the society we were born in, said Carlson. œSo the next time you see someone in a mask on the sidewalk or on the bike path, do not hesitate. Ask politely but firmly, ‘Would you please take off your mask? Science shows … | |
Tesla CEO Elon Musk Qualifies For Yet Another $11 Billion In Stock OptionsTesla CEO Elon Musk Qualifies For Yet Another $11 Billion In Stock Options Tesla’s quarterly report on Monday – the one that was helped along by more ZEV credit sales and the company daytrading cryptocurrency – has triggered two options payouts to the tune of $11 billion for CEO Elon Musk. Each of two new tranches of options gives Musk the option to buy 8.4 million shares of Tesla at $70 each, which is a more than 90% discount from the current market price. The company said it incurred a $299 million expense related to Musk’s pay package, “driven by an increase in market capitalization and a new operational milestone becoming probable,” Reuters reported. “The shares from four previous tranches, plus the fifth and sixth tranches, … | |
BA hopes wealthy tourists can plug corporate holeAirline boss Sean Doyle says the leisure sector will be a buffer against weak business travel. | |
Lotus to launch last pure petrol sports carThe Emira will be Lotus’ last conventionally powered sports car, as it prepares for an all-electric future. | |
Crocs sales soar in fashion comebackThe divisive footwear company’s sales reached a record $460m in its first quarter. | |
Zomato IPO: Info Edge to sell stake worth Rs 750 crore via OFSInfo Edge will sell stake worth Rs 750 crore in the initial public offering of the food delivery aggregator, the company said in an exchange filing. | |
China investigates Ant Group’s IPO approval process: ReportThe central-government investigation, which started early this year, focuses on “regulators who greenlighted the initial public offering, local officials who advocated it and big state firms that stood to gain from it”, according to the report. | |
Q4 earnings: Reduction in provisions, finance costs help Bajaj Finance tide over timid loan growthProvisions on bad loans fell 37% to Rs 1231 crore in the quarter ended March 2021 from Rs 1954 crore last year while finance costs fell 14% to Rs 2196 crore from Rs 2547 crore in March 2020. | |
S and P CoreLogic Case-Shiller 20 City Home Price Index February 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, “February’s results into historical context – The National Composite’s 12.0% gain is the highest recorded since February 2006, exactly 15 years ago, and lies comfortably in the top decile of historical performance.”. | |
The Margin: Popular culinary site Epicurious took away beef recipes in a ‘pro-planet’ move ” its users didn’t noticePopular culinary site Epicurious took away all its beef recipes and promotions, a deliberate move to promote “sustainable” eating. | |
The Margin: ‘Disaster Girl’ makes over $430,000 selling the NFT of her memeZoe Roth, now 21, found a way to make money off her viral image | |
The Ratings Game: Here’s what analysts are saying about Tesla’s mixed first-quarter earningsTesla Inc.’s first-quarter earnings kept Wall Street analysts divided, with some citing mixed results and others focusing on œanother solid quarter from Musk & Co. |
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