13May2021 Pre-Market Commentary: Wall Street To Open Higher, DOW Up 1 Point, Nasdaq Up 0.7%, WTI Crude Lower 64.71, Bitcoin 50100, Dogecoin $0.41

Written by Gary

The Colonial Pipeline, reopened late yesterday (SPY +0.4%). $365 billion wiped off cryptocurrency market after Tesla stops car purchases with bitcoin.

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.
	Americas Multi-Trillion Dollar Infrastructure Security Crisis Last Friday, a cyberattack prompted the shutdown of the biggest piece of energy infrastructure in the United States, the Colonial Pipeline system that supplies almost half of the gasoline and diesel that the East Coast consumes. The attack naturally led to higher gasoline prices and a run on gas as drivers worried about looming shortages while Colonial Pipeline Co. worked to restart the flow of fuels. Yet the higher prices at the pump and a possible shortage of fuel supplies are the smaller problem. It is, after all, temporary, and its effect will
	How A Helium Shortage Could Put The Brakes On The Tech Boom The one thing that underpins every single tech giant in the world is experiencing a shortage–twice over. Semiconductorssome call the New World Oil with massive global implications–are in short supply And Helium, a gas critical to their manufacturing, is experiencing a supply squeeze that cant be remedied without new exploration and development. Its not just the demand explosion in the semiconductor industry that necessitates more Helium, either Helium is a critical gas in the healthcare
	ExxonMobil Sets Higher Guyana Oil Production Target ExxonMobil has revised upward its 2025 crude oil production in Guyana on the back of its fourth deepwater project there. Under new estimates, Exxon expects to produce 800,000 bpd by 2025. And Guyana has even more optimistic projections for its crude oil production at 1 million bpd by 2027. Exxons fourth project, the Yellowtail project, will produce 250,000 bpdthe largest in Guyana, according to Exxon. Yellowtail will even produce more than Liza-1 and Liza-2, which lie just 19 miles to the northwest. Exxons previous Guyana production
	CIA Under Fire As Intelligence Officers Fall Victim To Mysterious Weapon In an ongoing saga, United States intelligence officers stationed in foreign countries have been experiencing mysterious and debilitating head injuries that are suspected to be the result of vicious and clandestine energy attacks. Victims have developed symptoms consistent with Havana syndrome, including severe headaches, fatigue, and hearing loss among other effects. In one case from 2017, an intelligence officer stationed in Guangzhou, China experienced headaches, memory loss, sleep problems, and more. An MRI released by researchers
	The Oil Pipeline That Will Expand China’s Influence In Africa Central to the expansion of Chinese and Russian influence via Iran into the space in the Middle East vacated by the U.S. since former U.S. President Donald Trump initiated a pullback from the region is the ongoing rollout of a pan-regional power network. This complements and augments existing oil and gas development and transport links between Iran and Iraq and then into the rest of the Iran-controlled Shia Crescent of Power and beyond, further necessitating as it does the installation of extensive permanent infrastructure connected to the network
	Airports Could Become Solar Energy Hubs Experts warn that we are running out of time to prevent the worst effects of global warming. For decades, scientists have been warning us that we need to fundamentally change our relationship with fossil fuels and land use, but now were down to the wire. The Intergovernmental Panel on Climate Change, the worlds premiere experts on the subject, say that we have fewer than 10 years to turn things around enough to keep the world from warming more than 1.5 degrees Celsius over pre-industrial levels in order to avoid complete ecological
	McDonald’s raises hourly wages for company-owned restaurants McDonald’s is looking to hire 10,000 workers for those restaurants over the next three months.
	Walmart acquires virtual fitting room company Zeekit, as it makes push into fashion Shoppers will be able to use the technology to try on clothing from Walmart’s private labels or national brands it carries and get opinions from friends.
	Ford plans to launch technology for over-the-air upgrades to millions of cars ” just like Tesla Ford is calling its new remote update capability “Power-Up,” highlighting the ability for the company to enhance and upgrade a vehicle well into its lifecycle.
	Sens. Klobuchar, Daines call on FTC to guard against travel scams Noting a rise in travel scams, Sen. Amy Klobuchar, D-Minn., and Sen. Steve Daines, R-Mont., wrote the FTC to ask the agency how it is protecting U.S. consumers.
	Gas prices at multiyear highs won’t impede these summer travel stocks, traders say Gas prices just hit their highest level since late 2014, but two summer travel stocks should be able to manage that risk.
	Uber rival Ola offers London drivers electric vehicle incentives as it fights to regain license Indian Uber rival Ola will waive its commission until Aug. 13 for drivers in London that own an electric vehicle.
	Premier League agrees TV broadcast deal extension subject to UK Government approval The Premier League has secured approval in principle for a three-year renewal of its TV rights deal with U.K. broadcast partners, including Sky Sports.
	Portugal’s hotels see huge spike in booking requests after UK gives green light on international travel U.K. tourists were quick to jump on the opportunity to book a vacation in Portugal.
	The Seychelles is the most vaccinated nation on Earth. But Covid has surged The Seychelles is causing concern for world health experts after a rise of Covid-19 cases among fully vaccinated individuals.
	As much as $365 billion wiped off cryptocurrency market after Tesla stops car purchases with bitcoin Tesla CEO Elon Musk said Tesla would suspend car purchases using bitcoin, wiping off billions of dollars of value from the cryptocurrency market.
	CDC director defends widely criticized mask guidance: ‘We are following the science’ Centers for Disease Control and Prevention Director Dr. Rochelle Walensky defends the agency’s Covid-19 mask guidance policies amid widespread criticism.
	Waiving patents for Covid vaccines won’t solve the ‘need of the hour,’ says Indian drugmaker The world faces an urgent need to vaccinate people, and waiving intellectual property rights doesn’t address that problem, according to Umang Vohra of Cipla.
	Dubbed ‘WoodStocks,’ Jim Cramer sees Cathie Wood’s top tech picks heading lower “What worked in 2020 hasn’t been working in 2021 and that’s not gonna change, so get used to it,” Jim Cramer said on “Mad Money.”
	US Producer Prices Surge Most On Record US Producer Prices Surge Most On Record After consumer prices exploded higher yesterday – and were immediately rejected by establishment types as ‘transitory’, despite the market’s obvious disagreement – all eyes were on this morning’s producer prices for signs of more pressure. Many were fearful of a repeat of last month’s debacleÂ delay (and there were rumors of a softer PPI print leaked earlier today) The rumors were wrong as April Producer Prices exploded 6.2% YoY (well ahead of the 5.8% expected) rising 0.6% MoM (double the +0.3% expected). Source: Bloomberg That is the biggest YoY jump on record. œThere is more inflation coming, Â Luca Zaramella, chief financial officer at Mondelez International Inc., said on the food and beverage maker’s April 27 earnings call. œThe higher inflation will require some additional pricing and some additional productivities to offset the impact.
	Israel Orders “Massive Reinforcement” Of Reserve Troops To Quell Riots; Ground Forces Amass Near Gaza Israel Orders “Massive Reinforcement” Of Reserve Troops To Quell Riots; Ground Forces Amass Near Gaza On Thursday Israeli troops have begun amassing at Gaza’s border amid widespread rumors of preparations for a ground invasion. It comes also as violence between Jewish and Arab communities inside Israel ratcheted further overnight, taking the form of mob riots and attacks on either mosques or synagogues.Â Rioting in Lod, Israel via social media footage Overnight from Wednesday Israeli media estimates thatÂ 150 rockets and mortar shells were fired from the Gaza Strip into Thursday, bringing the total fired since fighting began early this week to around 1,500 total rockets. Israel has in return continued to pound the densely packed Gaza Strip with airstrikes, with the death toll soaring to at least 83 Gazans killed, including 17 children, and and additional almost 500 wounded, according to Gaza’s health ministry on Thursday. At least seven Israelis have died, including a
	Futures Flutter As Global Stocks Slide To 6 Week Low, Asia Enters Correction Futures Flutter As Global Stocks Slide To 6 Week Low, Asia Enters Correction US equity futures fluctuated – first rising then sliding for a 4th session – in a volatile overnight session which saw global stocks fall to a six-week low as inflation fears continued to depress investor sentiment. One day after the S&P suffered its biggest one-day percentage drop since February it feels almost impossible how quickly sentiment has shifted and that the S&P hit an all time high just 4 days ago on Monday. It’s been non-stop selling since then. Losses this week have pulled the S&P 500 4% off its record closing high on Friday, while the tech-heavy Nasdaq is about 8% below its April 29 all-time high. At 700 a.m. ET, Dow e-minis were down 144 points, or 0.43%, S&P 500 e-minis were unchanged and Nasdaq 100 e-minis were up 40.25 points, or 0.29%.The dollar rose to a one-week high and yields were stable, as investors awaited producer prices data, another inflation gauge, to see if a rise in prices would be strong enough to prompt a sooner-than-expected increase in interest …
	Chinese Stocks Tumble After Beijing Vows To Crack Down On Surging Commodity Prices Chinese Stocks Tumble After Beijing Vows To Crack Down On Surging Commodity Prices With tech stocks tumbling in the past week amid surging inflation fears, at least the commodity sector appears safe from the global reflationary risk-off wave that swept across markets. But maybe not anymore: overnight Chinese stocks slumped, tracking losses in U.S. shares on much higher-than-expectedÂ inflationÂ data there, as the materials sector tumbled after the government called for measures to deal with œoverly fast commodity price rises. China will monitor changes in overseas and domestic markets and effectively cope with a fast increase in commodity prices, the state-run Xinhua news agencyÂ reported, citing aÂ meetingÂ of the State Council, the country’s cabinet, on Wednesday according to Reuters. According to the report, the state will step up coordination between monetary policy and other policies to maintain stable economic operations, the cabinet also said, as reported by state television. The verbal intervention took place as prices for commodities such as copper, coal and steelmaking raw material iron ore extended recent rallies to hit all-time highs this week on concerns a post-coronavirus pandemic demand rebound in China is outpacing supply. China is the world’s biggest market for copper, coal and iron ore and consumers face much higher costs as some analysts expect a commodities œsuper-cycle . And while the cabinet did not say how it would cope with the rise in commod …
	Travel firms warned over summer holiday refunds Companies will be breaking the law if they delay or refuse refunds, warns the competition watchdog.
	BT vows to give 5m more homes fast broadband The telecoms giant says its new full-fibre investment strategy could create up to 7,000 jobs.
	UK shares join global market sell-off on inflation fears Leading UK and European stocks fall as US cost of living data sends shivers through global markets.
	Trade Setup: Nifty’s RSI against that of Nifty500 hits new low. Avoid high-beta stocks Pattern analysis showed Nifty continues to stay within the falling channel which it had formed after marking the high of 15,431 in February.
	Covid 2.0 may dent the golden appeal of Akshay Tritiya Last year, based on data from the World Gold Council, Indian consumer demand fell over 35 per cent, leading to a sharp drop in imports. The Indian and global economies contracted sharply last year as Covid-19-related restrictions impacted activity. Meanwhile, gold prices jumped to record high levels both in domestic and international markets.
	Domino’s Pizza flies on Wall St after Ackman reveals he owns 6% The billionaire investor, who is known for waging high-profile boardroom battles at companies like Canadian Pacific Railway Ltd. and Automatic Data Processing Inc., said the chances of him doing the same at Domino’s — or anywhere else — are very low.
	Rail Week Ending 08 May 2021 – Growth Surge Continues Written by Steven Hansen Week 18 of 2021 shows the same week total rail traffic (from the same week one year ago) improved according to the Association of American Railroads (AAR) traffic data. Total rail traffic – which has been in contraction for over one year – is now surging as it is being compared to the pandemic lockdown period one year ago.
	Economic Report: U.S. wholesale prices rise at fastest pace since 2009, PPI shows, as inflation pressures keep building U.S. wholesale prices increased sharply again in April and signaled that more inflation is bubbling up in the U.S. economy, just a day after another government report showed the cost of living rose at the fastest pace in 13 years. The producer price index jumped 0.6% last month.
	Metals Stocks: Gold prices pull back, on verge of third straight slide Gold prices retreat on Thursday, heading for a third straight slide as the precious metal extended a fall from the highest levels since around February on the back of jitters centered on rising inflation.
	Futures Movers: Oil prices fall as Colonial Pipeline resumes operations on U.S. East Coast Oil futures fall Thursday, on track to snap a four-day winning streak, as the Colonial Pipeline resumes operations after shutting down in response to a ransomware attack. Traders were also tracking a continued surge in COVID-19 cases in India.