13May2021 Market Close: Major Lithium Supply Crunch Ahead, DOW Closes Up 434 Points As Stocks Snap 3-day Skid, Nasdaq Up +0.7%, Bitcoin And Dogecoin Skid Lower, 48800, $0.36 Respectively

Iraq Revives Its Monster Pipeline Project

Recent news reports were replete with Iraq declaring its willingness to invest $15 billion into new gas-focused projects that could reduce its reliance on one of Baghdads long-standing problems, its gas imports. Baghdad has committed to an ambitious timeline of reaching self-sufficiency by 2024-2025, with several large-scale projects being developed simultaneously. The announced gas-boosting drive will encompass Total spearheading the revived $7 billion Common Seawater Supply Project (injecting desalinated water into Basrah fields and processing

Can Canada Boost Oil Production While Reducing Emissions?

Canada has recently increased its climate commitment by announcing a more ambitious mid-term target for 2030 on its path to net-zero by 2050. Still, the federal government expects crude oil production to continue growing and peak only a decade before 2050. This glaring discrepancy signals that the industry, the province of Alberta, and the federal government should boost cooperation and increase investment and commitment in reducing greenhouse gas emissions, especially from the oil sands production, which is more carbon-intensive than most other

Tesla Stops Accepting Bitcoin As Payment

Less than two months after Teslas Elon Musk said the company will be accepting bitcoin as payment for EVs, the companys CEO did a U-turn, tweeting that Tesla will no longer accept the cryptocurrency because of its carbon footprint. In the tweet, Musk said the company was concerned about the amount of energy bitcoin mining used, citing rapidly increasing use of fossil fuels for Bitcoin mining and transactions, especially coal, which has the worst emissions of any fuel. That bitcoin mining and transactions are energy-intensive

The World Is Facing A Lithium Supply Crunch As Demand Soars

In just one year, the world’s largest lithium producers turned from cautiously optimistic about prices and very careful about expansion projects to decisively bullish on near, medium, and long-term demand for the key battery metal. The pandemic prompted many governments to commit to greener recovery and to raise significantly the share of renewable energy and electric vehicles (EVs), stoking demand for critical minerals this year. Lithium, alongside copper, has seen prices rising since automakers started pledging all-EV lineups and exponential

Chevron Halts Gas Field Off Israel As Violence Flares Up

U.S. supermajor Chevron has complied with instructions from Israel’s energy ministry to shut down operations at the Tamar natural gas field offshore Israel after the violence between Israel and Gaza escalated in recent days. In accordance with instructions received from the Ministry of Energy, we have shut in and depressurized the Tamar Platform, Chevron said in a statement on Wednesday, as carried by Reuters. Chevron has an interest in another gas field offshore Israel, the Leviathan gas field, the biggest energy project in

Why Green Energy ETFs Are Slumping In May

Since the peak in January, exchange-traded funds (ETFs) focused on green energy have seen major declines after last years surge started to fizzle out. The clean energy ETFs skyrocketed last year as investors turned to sustainable energy investments after governments pledged to build back greener from the pandemic and to achieve net-zero emissions within three decades. This year, ETFs are still hot, but clean energy ETFs not so much. Some of the most popular renewable energy funds have seen their performance slump by

Investors have lost faith in Airbnb’s model, trader says with stock down nearly 40% from highs

Airbnb is facing tough times ahead with competition encroaching and Wall Street losing interest, BK Asset Management’s Boris Schlossberg warns.

SpaceX reveals first orbital Starship flight plan, launching from Texas and returning near Hawaii

Elon Musk’s SpaceX revealed its plan for the next step in testing of its next-generation Starship rocket.

Cruise expects GM to begin production of new driverless vehicle in early 2023

Cruise’s CEO disclosed the timing Thursday, giving the most specific time frame yet for the vehicle and commercialization of its autonomous vehicle business.

‘Friends’ reunion special arrives on HBO Max on May 27

The long-awaited “Friends” reunion special will arrive on HBO Max on May 27.

CDC says fully vaccinated people don’t need to wear face masks indoors or outdoors in most settings

There are a handful of instances where people will still need to wear masks ” in a health-care setting, at a business that requires them or on public transportation.

‘Jungle Cruise’ is the latest film to debut in theaters and on Disney+ for $30, but investors have unanswered questions

“Jungle Cruise” is the latest Disney feature to find itself as part of a hybrid theatrical and streaming release strategy.

Peacock’s ‘Rutherford Falls’ proves there’s a place for Native-led content in Hollywood

For Hollywood, diversity and inclusion has become a hot button issue. Studios have discovered that having unique and different voices is good for business.

LeBron James talks about his new Pepsi deal as he unveils first campaign with Mtn Dew Rise

LeBron James is the new face of Pepsi’s Mtn Dew Rise energy drink, his first campaign with the company since switching over from Coca-Cola.

Boeing set to resume 737 Max deliveries, airlines start repairs after FAA approves electrical issue fix

Boeing expects to resume deliveries of the 737 Max plane this week and airlines start repairs on an electrical issue that grounded more than 100 of the jets.

Fully vaccinated people don’t need to wear masks outside, Fauci says

“If you are vaccinated and you are outside, put aside your mask, you don’t have to wear it,” Fauci said.

U.S. Covid cases fall further as Pfizer’s vaccine is cleared for 12- to 15-year-olds

U.S. Covid case counts fell further on Wednesday, with the nationwide average now at about 36,700 per day over the past week, the lowest since Sept. 14.

NBA creates Kareem Abdul-Jabbar annual social justice champion award

As part of the award, NBA players will donate a combined $200,000 to social organizations of their choice.Â

Walmart’s former e-commerce chief Marc Lore says venture firm with A-Rod will make big bets on digital retail

The serial entrepreneur said they will take a 40% to 80% stake in early-stage start-ups.

Portugal: No decision yet on UK holiday travel

The country has yet to decide whether it will allow holiday visits as it extends state of calamity.

Amazon set to hire 75,000 workers in US and Canada

The online retail giant is hiring extra staff to meet growing demand as the pandemic continues.

Gupta-owned bank faces possible liquidation

Wyelands Bank, part of the empire of beleaguered businessman Sanjeev Gupta, is likely to be wound up.

Ahead of Market: 12 things that will decide stock action on Friday

Nifty slipped 1 per cent on Wednesday, and in the process, formed a Bearish Belt Hold pattern on the daily chart. Analysts said the 50-pack is facing a stiff hurdle on the higher side, especially in the 14,900-15,000 zone.

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.

As countdown begins for Zomato IPO, a Rs 14,000 crore question looms

In its draft red herring prospectus, Zomato proposes to utilise 75 per cent of the Rs 7,500 crore IPO proceeds for tapping organic and inorganic growth opportunities and the rest for general corporate purposes.

08 May 2021 New York Fed Weekly Economic Index (WEI): Index Shows Modest Decline

Written by Steven Hansen

The New York Fed’s Weekly Leading Index (WLI) marginally declined this past week. However, this index recovery is improving based on the 13-week rolling average.

: States pulling the plug on federal unemployment benefits could be ‘disappointed’ ” consumer spending may take a hit

Many workers in states that are cutting benefits ‘will be desperate to keep body and soul together,’ said Stephen Wandner, a senior fellow at the National Academy of Social Insurance

The Ratings Game: Grocery Outlet’s inability to grow online is a ‘competitive disadvantage’ that will be hard to overcome

Grocery Outlet stock slumped nearly 12% in Wednesday trading after earnings.

MarketWatch and Learn: How to start saving for retirement in 2 simple steps

Saving for retirement might seem hard — it doesn’t have to be