Written by Gary
March 2021 CoreLogic Home Prices: Millennials propel home buying (SPY -0.6%). US trade deficit hits record high in March. Biggest movers: CVS Health, iRobot, Vaxart.
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. | |
 | Big Oil Hikes Dividends After Blowout QuarterCrude oil futures have rallied to their highest finish in six weeks, days after OPEC+ stuck with plans to gradually ease production curbs, signaling confidence in the demand outlook. The optimism has coincided with a breakout season for the S&P 500, with the Energy Sector (XLE) being particularly impressive. Indeed, Credit Suisse has issued an upgrade for the entire market, boosting its 2021 S&P target to 4,600 from 4,300 points, good for 10% upside from the current levels and a 24.3% gain for the full year. The analysts have also |
| Tech Giants Could Send Helium Prices Soaring as War For Supply GrowsIt’s a global issue that could soon disrupt every industry from technology to medicine and much more. With the global supply of one commodity at its lowest level in years… while demand is spiking to all-time highs… It could send prices for this much-needed resource higher yet. Already, prices had been steadily climbing in recent years.Source: Bureau of Land Management, USGS But one small company, Avanti Energy (TSX: AVN.V; US OTC: ARGYF), has seen its share price increase more than 2.5x over just the last few months. Those recent gains are |
| Iraq May Buy Exxons Stake In Major Iraqi OilfieldIraq could buy ExxonMobils 32.7-percent stake in one of the largest oilfields in OPECs second-largest producer, West Qurna 1, Bloomberg quoted Iraqs oil minister Ihsan Abdul Jabbar Ismaael as saying on Monday. Reports of the U.S. supermajor potentially divesting its stake in the large Iraqi oilfield are not new. Last year, Bloomberg reported that Chinese state giants China National Petroleum Corporation (CNPC) and China National Offshore Oil Corporation (CNOOC) were interested in buying ExxonMobils entire operating stake |
| The Wider Ramifications Of A China-Aramco DealThe Saudi government is indeed in advanced talks with several Chinese entities sovereign wealth funds and oil companies to sell a 1 per cent stake in its flagship company, Saudi Aramco, OilPrice.com can confirm from a number of banking and oil industry sources close to the deal.The sale of such a strategic stake in such a key company in Saudi Arabia to a Chinese entity would mark a decisive shift of power in the Middle East towards China and away from the U.S., further fracturing the already-strained 1945 core relationship agreement |
| Oil Investment Lags Jump In Crude PricesInvestment in new oil and gas projects last year sank to the lowest in 15 years at $350 billion. As the world continues its battle against Covid-19 and as the energy industry increasingly looks towards diversification outside its core business, it is doubtful how soonif everinvestments in new upstream projects will recover to pre-pandemic levels. This is not to say there is no sign of recovery in investments. Wood Mackenzie reports there are a total of 26 new projects in conventional oil and gas that could get their final investment |
| Iran Aims To Raise Oil Exports To 2.5 Million Bpd Once U.S. Sanctions Are LiftedIran will be able to raise its crude oil exports to 2.5 million barrels per day (bpd) after the U.S. sanctions on its oil industry are lifted, a top Iranian official said over the weekend, while reports emerged that the talks in Vienna for bringing Iran and the U.S. back to the nuclear deal had made progress. Oil sales have dropped a lot, but now the situation is better, and we are in control. We will be able to increase oil exports to 2.5mn b/d after removal of the sanctions, Argus quoted Irans vice-president Eshaq Jahangiri |
| 5 things to know before the stock market opens TuesdayU.S. stock futures dropped Tuesday after a strong start to the month of May. |
| Under Armour hikes full-year outlook, sees demand returningUnder Armour reported first-quarter earnings and sales that topped estimates, and the sports apparel maker hiked its sales outlook for the full year. |
| Almost 20% of unvaccinated Americans still prefer J&J Covid vaccine after U.S. pause, survey showsThe number of Americans who prefer J&J’s Covid-19 vaccine declined after the U.S. paused its use to investigate safety, but 17% still say it’s their top choice. |
| CVS Health earnings top estimates as Covid vaccinations, testing boost drugstore salesCVS Health reported a strong first quarter and raised its forecast, as customers came to stores for Covid-19 vaccinations, tests and prescriptions. |
| How small and scrappy Mazda competes with the big automakersMazda’s sales are a fraction of those of the world’s largest automakers, but it has carved out a niche making cars for drivers and innovating in engines. |
| Pfizer plans to file for full FDA approval of Covid vaccine at the end of this monthIn its earnings report, Pfizer reported $3.5 billion in first-quarter sales of its Covid-19 vaccine. |
| Indian Premier League: 2021 competition suspended amid coronavirus outbreak in-countryThe 2021 Indian Premier League has been suspended amid concerns over coronavirus levels in the country. |
| India reports more than 357,000 new Covid cases as total crosses 20 millionSo far, at least 222,408Â people have died from the disease, but that number is likely lower than the actual death toll. |
| Cramer rejects Buffett’s stance on stock picking, endorses a hybrid investing model“I respect Warren Buffett, but I’ll always be a Peter Lynch guy,” “Mad Money” host Jim Cramer said. |
| ‘Humanitarian catastrophe’ in India puts global Covid fight at risk, doctor saysDr. Ashish Jha explains how the Covid outbreak in India is putting the rest of the world at risk and why there should be a global effort to help the country. |
| Venture capitalist Alan Patricof: Capital gains tax hike would not change investor behaviorVenture capitalist Alan Patricof told CNBC on Monday that an increase to the capital gains tax rate for wealthy Americans would not change investor behavior. |
| Lydall testing air filter system to convert CO2 into oxygen on Mars with NASA rover, CEO says“We’re not only protecting people and the environment on Earth, we’re starting to do it on Mars as well,” Lydall CEO Sara Greenstein told CNBC. |
| Jim Cramer says these outdoor plays are a buy as the economy reopens“As the pandemic winds down, I think the great outdoors theme has more legs than you realize,” the “Mad Money” host said. |
| Forget Decoupling: Divorce Is A “Shock Wave”Forget Decoupling: Divorce Is A “Shock Wave” By Michael Every of Rabobank It’s not as if we are short of big picture themes right now: vaccines vs. vacillation; inflation, hyperinflation, disinflation, or deflation; tax and spend vs. no tax and spend vs. no tax and no spend; crypto vs. Tales From the Crypt-o; fast US-China decoupling, ¦or slow US-China decoupling; and even war or peace. No new developments on any of them today, however. Instead, the focus is obviously on the most crucial of developments: that Bill and Melinda Gates are divorcing after 27 years. As Bloomberg puts it, œTheir separation is likely to send shock waves through the worlds of philanthropy, public health, and business. And equal waves of excitement through divorce lawyers given there is allegedly no pre-nuptial agreement in place and a USD130bn pot of assets to divide. (Which is larger than the 2019 GDP of 153 of the world’s 213 economies and territories, with the cut-off point being Kuwait, and Ukraine potentially the next one in line ” the second time I have had to use that phrase in very different contexts in recent weeks.) But really, why the œshock waves ? Did Amazon stumble after the Bezos divorce? Hardly. Does the Gates divorce somehow prevent the philanthropy that sees them oppose developing nations from being allowed to produce generic versions of Covid-19 vaccines? Yes, that won’t solve the terrible problem in India right now given the issue is physical supply ” but arguably if … |
| US Trade Deficit Hits Record High In MarchUS Trade Deficit Hits Record High In March After the 2018-2019 rebound in the US Trade Balance to a three year low (as Trump ‘adjusted’ US-China’s relationship), the trade deficit has surged from the start of the pandemic to the latest data in March, at $74.4 billion – the largest trade deficit in US history (from $71.1 billion a month earlier), in line with expectations.
Source: Bloomberg The March goods deficit ($90.6 billion) was the highest on record, and the March non-petroleum deficit ($88.8 billion) was the highest on record. Overall, imports rose 6.3% to a record $274.5 billion, while exports climbed 6.6% to $200 billion. |
| Undisclosed Bias? Even WaPo Questions Impartiality Of BLM-Shirt-Wearing Juror In Chauvin CaseUndisclosed Bias? Even WaPo Questions Impartiality Of BLM-Shirt-Wearing Juror In Chauvin Case Authored by Isabel van Brugen via The Epoch Times, A juror in the trial of Derek Chauvin, the former Minneapolis police officer found guilty in the 2020 death of George Floyd, failed to disclose that he attended an event attended by Floyd’s relatives last year, raising questions of impartiality, according to legal experts. Floyd stopped breathing while being pinned to the ground by Chauvin following an arrest for alleged use of counterfeit money in Cup Foods in Minneapolis in May last year. A jury convicted Chauvin of second-degree murder, third-degree murder, and second-degree manslaughter after closing arguments concluded on April 19. One of the 12 jurors who deliberated at the trial, Brandon Mitchell, a 31-year-old high school basketball coach who has identified himself, told news outlets in Minneapolis that on Aug. 28 last year, he attended a march in Washington where Floyd’s siblings were present. |
| Here Is Everything We Know About How Bill And Melinda Plan To Divide Their $150 Billion FortuneHere Is Everything We Know About How Bill And Melinda Plan To Divide Their $150 Billion Fortune Many investors were surprised Tuesday morning when Microsoft shares exhibited little reaction to the news that the company’s founder, Bill Gates, and his wife of 27 years, Melinda French Gates, had agreed to divorce.
Now that the world has had some time to adjust to the reality that Bill & Melinda, one of the world’s preeminent power couples, are filing for divorce, the world’s attention is now turning to a critical question: how will they divide up a fortune that has been quoted to be as large as $150 billion, and includes an investment fund that is the biggest private owner of farmland in the US, among other dubious distinctions. As TMZ and other scrutinized the divorce documents filed in Washington State, it was initially believed that Bill and Melinda didn’t have a prenup in place, but as one twitter user pointed out, the reality is slightly more nuanced. TMZ went to the trouble of fetching the |
| Record mortgage borrowing as owners move or improveStamp duty holidays and low mortgage rates push borrowing to the highest levels since records began. |
| Odeon to reopen most cinemas in May with new safety measures in placeFollowing rival Cineworld, Odeon plans to reopen sites with new safety measures in place. |
| Hospitality bosses lose court battle over indoor openingThe High Court has ruled in favour of the government in a battle over indoor reopening dates in England. |
| RBL Bank Q4 profit sinks 34% YoY, misses estimates; asset quality improvesThe lender’s net interest income in the quarter slumped 11 per cent on-year to Rs 906 crore, which was also below Street’s estimates. |
| What’s fuelling Persistent Systems stock in a weak market?The company bagged deals with a total contract value of $ 246.5 million in the March quarter. Of this, more than half or $ 137.7 million was from new clients. This augurs well given the company’s focus on reducing client concentration. |
| Adani Ports Q4 results: Net profit jumps 285% YoY to Rs 1,288 cr; operating revenue rises 24%Operating revenue for the firm rose 24 per cent to Rs 3,608 crore from Rs 2,921 crore in the same quarter last year. Consolidated operating Ebitda advanced 39 per cent to Rs 2,287 crore. |
| March 2021 CoreLogic Home Prices: Millennials Propel Home BuyingWritten by Steven Hansen CoreLogic’s Home Price Index (HPI) home prices recorded an 11.3% annual gain, the highest since March 2006.
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| : An environmentally friendly diamond is forever? Around $350 will buy you Pandora’s new lab-grown jewelPandora has said that it will stop selling mined diamonds and switch to affordable, lab-grown gems as part of a broader focus on sustainability. |
| : Uber partners with electric-vehicle startup Arrival so its drivers can design new carThe car designed with help from Uber drivers will join Arrival’s previously announced bus and van. |
| : In about-face, Biden lifts refugee cap to 62,500President Joe Biden said on Monday that he would raise the U.S. refugee admission cap to 62,500 this fiscal year. |
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