Written by Gary
McDonald’s revenue tops pre-pandemic levels, fueled by the strong U.S. recovery (SPY +0.7%). US consumer spending climbs 10.7% and GDP increases 6.4%.
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. | |
 | Three Things That Will Drive Oil Prices In MayThe Energy Sector (NYSEARCA:XLE) has taken the lead in the S&P midday sector standings on Wednesday trading, jumping 3.5% as OPEC+ appears ready to stick with earlier plans to slightly increase oil production from May 1. The OPEC technical committee has issued a bullish oil demand forecast, although a hawkish tone by the Fed could derail the recent oil price gains. Meanwhile, the Federal Open Market Committee (FOMC) meeting is scheduled to take place on 27-28 April 2021, with the committee set to announce any changes to its monetary policy |
| Amazon, Google and Netflix Are Fighting Over This Rare GasThe next supply squeeze that may take markets by surprise isnt lithium. It isnt even a battery metal While everyone is distracted by the media barrage surrounding EVs, another commodity may be creating an investment opportunity to rival all We think its potentially bigger than the cannabis boom that reportedly netted some investors 1,000% gains. Its helium. And some experts say were running out of it. Its not just a niche commodity anymore. Its not just about balloons. And we think |
| Major Chinese Investors Could Buy Stake In AramcoMajor Chinese investors, including the sovereign wealth fund China Investment Corporation (CIC) and Chinese national oil companies, are the ones looking to buy a stake at the biggest oil company in the world, Saudi Aramco, Reuters sources said on Wednesday. Crown Prince Mohammed bin Salman had announced on Tuesday that Saudi Arabia was looking to sell 1% of its oil giant Saudi Aramco to one of the leading energy companies in the world. He did not specify which energy company. MbS also said it could sell additional Aramco shares to |
| Who Will Buy The 1% Stake In Aramco?In an interview on Saudi national TV, Saudi Crown Prince Mohammed bin Salman hinted at a possible sale of a 1% stake in Saudi Aramco. MBS claimed that there are talks now for the acquisition of a 1% stake by a leading global energy company in an important deal that would boost Aramcos sales in a major country. Based on the current value of Aramco, the potential sale would bring in roughly $19 billion for the Kingdom. MBS did not go into further detail on the deal but he did indicate that more of Aramco may be sold in the future. |
| Oman’s National Oil Firm To Sell Off Assets To Fund $8 Billion In SpendingOmans state-held energy company OQ looks to sell assets and tap the international debt market in order to fund its planned US$7.9 billion expenditures over the next five years, Bloomberg News reported on Wednesday, quoting a bond prospectus it had seen. OQ does not expect to receive funding from the state anymore, which has so far poured as much as US$8.6 billion in the energy firm, according to Bloomberg. OQ suffered losses in 2020 at its major upstream division as well as the refinery business after oil prices and oil demand crashed at |
| Middle East Oil Economies Desperately Need Higher Oil PricesBig Oil is reporting strong first-quarter results thanks to higher prices, maybe making some shareholders think twice about the whole energy transition thing. But not everyone is happy. Despite the marked improvement in benchmark prices in recent months, Middle Eastern oil producers are expected to remain in the red this year. Abu Dhabi and Qatar are the only two exceptions that may book budget surpluses, Fitch Ratings said in a new report this week, as quoted by Reuters. The rest of the oil economies, however, will continue struggling with deficits |
| Marlboro parent Altria revenue falls short as cigarette shipments decline, buys rest of On nicotine pouchAltria first-quarter earnings declined as revenue fell short of estimates as cigarette shipments continue to decline. |
| McDonald’s revenue tops pre-pandemic levels, fueled by the strong U.S. recoveryMcDonald’s beat Wall Street’s estimates for its quarterly earnings as net sales topped pre-pandemic levels. |
| Covid threat for Europe ‘remains present,’ WHO says despite falling infectionsIn Europe, the U.K. is steadily lifting its lockdown and its vaccination rollout continues at pace. |
| UBS agrees to sponsorship and content deal with athlete-backed PlayersTVGlobal investment bank UBS entered a multiyear, seven-figure partnership with Players Media Group. |
| These two stocks unloved by analysts may be worth a second lookViacomCBS could surprise investors to the upside despite being largely shunned by analysts, says Miller Tabak’s Matt Maley. |
| 5 things to know before the stock market opens ThursdayWall Street is set to open higher after strong earnings from Apple and Facebook sent those stocks sharply higher. |
| Singapore reports highest number of Covid cases in the community in nine monthsSingapore’s health ministry reported 16 new locally transmitted coronavirus cases on Thursday, the highest number since July 11, 2020. |
| Moderna Covid vaccine can remain stable at refrigerated temperatures for 3 months, company saysModerna’s Covid-19 vaccine can remain stable at temperatures found in refrigerators for 3 months, the company said Thursday, citing new data. |
| Dubai Airports boss blasts UK travel ban as ‘wrong,’ ‘not practical’ as traffic slumps by nearly 70%The U.K. has indicated the UAE could stay on the red list due to its international transit hub status, despite its rapid vaccination campaign. |
| Arsenal: Spotify owner Daniel Ek to present ‘very compelling offer’ to Kroenke familySpotify owner Daniel Ek says he is prepared for a “long journey” with his bid to buy Arsenal. |
| India could soon have another locally developed vaccine as the deadly Covid crisis shows no signs of slowingDrugmaker Cadila Healthcare, which is also known as Zydus Cadila, is conducting phase three clinical trials on 28,000 people. |
| Ford CEO expects chip shortage impact to bottom in Q2, production rebound in second half of year“We do count on a rebound in our production in the second half,” CEO Jim Farley said, adding that 2022 “is going to be an incredible year for us.” |
| Cramer bemoans lack of earnings momentum in stocks: ‘It’s starting to bother me’“Unless your company’s a huge beneficiary from the great reopening, nobody cares,” “Mad Money” host Jim Cramer said after AMD posted results. |
| There Are Still Over 16 Million Americans On Some Form Of Government Jobless BenefitsThere Are Still Over 16 Million Americans On Some Form Of Government Jobless Benefits The prior week’s pandemic cycle low print for initial claims was revised higher, only to see this week’s claims drop to a new post-pandemic-spike low at 553k…
Source: Bloomberg Continuing Claims followed a similar path with a historical upward revision and a new cycle low for the latest print, but we note that the pace of improvement has dramatically slowed…
Source: Bloomberg However, the total number of Americans still on some form of government jobless benefit remains above 16.5 million… |
| Joe Biden’s Speech Was A Declaration Of War On AmericaJoe Biden’s Speech Was A Declaration Of War On America Authored by Conrad Black via The National Interest, The best aspect of President Biden’s speech to the nation from the House of Representatives was his competent and persuasive delivery. He once again beat back the claims that he is a senescent, robotic dummy of severely diminished cognitive abilities. It was just reading a Teleprompter, but everyone remembers what an almost insurmountable challenge even that was at times in his candidacy, while the national political media conducted his campaign for him. He spoke to a sparse, well-distanced corporal’s guard of well-masked and double-vaccinated legislators-signaling their doubts about vaccines and determination to continue lock-downs-Covid got Biden to the White House but they all seemed absurd.
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| NYC Will “Fully Reopen” On July 1 With All Businesses At 100% Capacity, De Blasio SaysNYC Will “Fully Reopen” On July 1 With All Businesses At 100% Capacity, De Blasio Says New York City restaurants are already starting to reopen as Gov Andrew Cuomo has raised indoor dining capacity while rising temperatures have enabled restaurants to seat more people outdoors. But New Yorkers eager to get back to “normal” will need to wait a few more months, as Mayor Bill de Blasio just confirmed during an interview on MSNBC’s “Morning Joe” that the city will “fully reopen” on July 1. That’s the date when New Yorkers can expect all businesses to reopen at 100% capacity, the mayor said. The city’s schools, which reopen part-time for in-person learning last month, will be back at “full strength” come the fall, de Blasio added. “We’re ready to take the pathway to a full reopening”.
De Blasio credited the city’s rapid vaccination push for opening the door to re-opening.
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| Futures Jump To Record Above 4,200 On Blockbuster Earning, Bubble-Blowing FedFutures Jump To Record Above 4,200 On Blockbuster Earning, Bubble-Blowing Fed S&P Futures roared to new record highs above 4,200 and Nasdaq futures jumped 1% on Thursday as Powell’s dovish assurances and blow-out earnings from Apple and Facebook powered a rally in tech stocks and cemented conviction the world’s largest economy is resurgent ahead of GDP numbers and jobless claims data which are expected to show further improvements. At 7:30 a.m. ET, Dow e-minis were up 130 points, or 0.38%, S&P 500 e-minis were up 28.00 points, or 0.67%, and Nasdaq 100 e-minis were up 144 points, or 1.03%.
Some notable premarket movers: Apple gained 2.7% in premarket trading after posting sales and profits ahead of Wall Street estimates, led by much stronger-than-expected iPhone and Mac sales. Facebook jumped 7.3% on beating analysts’ expectations for both quarterly revenue and profit, helped by a surge in digital ad spending during the pandemic, along with higher ad prices coupled with a 10% growth in active users. Other megacap companies, including Microsoft Corp, Alphabet Inc and Netflix Inc, ro … |
| BT confirms talks over the future of its sports businessThe telecoms giant is in “early discussions” with a number of potential partners. |
| Heathrow Airport: Home Office must ‘get a grip’ on border delaysBoss of Heathrow Airport warns border control may not be ready for the easing of air travel next month. |
| Grenfell: Campaigners vow to fight fire safety billCampaigners say “a generation of homeowners” face financial ruin after government wins Commons vote. |
| Copper prices nearing $10,000 mark on Fed stimulus pledgeThe last time copper rose above $10,000 was in February 2011, when it touched an all-time record of $10,190. |
| Bajaj Auto Q4 results: Net profit rises 2% to Rs 1,332 cr, misses estimates; firm declares Rs 140 dividendThe two-wheeler maker reported a 26 per cent on-year rise in revenues for the quarter to Rs 8,596.1 crore, which was higher than analysts’ estimates of Rs 8,231 crore reflecting the recovery in demand. |
| Biden leaves his mark on markets in first 100 daysOne of the strongest sectors during the first 100 days of Biden’s term has been communication services, which includes Facebook and Google-parent Alphabet, despite calls from lawmakers for greater regulation. |
| Tax Guy: Watch out for this ‘double whammy’ on required minimum distributionsIf you think RMD rules are just a minor nuisance that you can safely ignore, think again. |
| The Conversation: Prices for NFTs have plunged ” but that doesn’t mean they will disappearNonfungible tokens are no fad; instead, they could change the world. |
| Earnings Results: Mastercard stock gains after earnings beatMastercard Inc. shares are up 1.6% in premarket trading Thursday after the company posted surprise growth in revenue and topped earnings expectations. |
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