Written by Gary
Futures, global stocks rise as dollar rout accelerates. Gold futures extend gains to four-month high (1875). Biggest premarket movers: Macy’s, Home Depot, Walmart, Tesla.
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. | |
 | Why A Shale Comeback Could Be Disastrous For Oil MarketsAfter having a year to forget in 2020, the energy sector has this year emerged as the best-performing of all 11 U.S. market sectors. Energy Select Sector SPDR ETF (NYSEARCA:XLE) is up 41% in the year-to-date, making the broader market S&P 500s 11% gain appear downright anemic. Oil prices appear to have stabilized in the upper 60s, with WTI price finding support around $63 per barrel while Brent is seeing support around $65 per barrel. The sector has a successful Covid-19 vaccination rollout and gradual recovery of the global economy |
| 2 Under The Radar EV Stocks Set To Explode This SummerThe rise of electric vehicles is one of the biggest trends of the last decade, taking names like Tesla and Nio to the top of the markets. But 2021 is proving that other types of companies may be ready to make their mark. Last year, it seemed EV companies could do no wrong, with countless companies in the industry seeing their shares hit new highs. Nikola, for example, soared for 672% gains at its highs. Tesla was up 695% on the year. And Nio took off for incredible 1,210% gains. But today, were finally seeing some chinks in the armor |
| The U.S. Shouldnt Hold High Hopes For A Pro-West Iranian PresidentThe U.S. and Iran have been engaged in on-off talks about the resuscitation of the Joint Comprehensive Plan of Action (JCPOA) the nuclear deal for some months now following the U.S.s unilateral withdrawal from the treaty in May 2018. So far, little progress has been made on any of the key issues involved on either side, although recent economic and financial data from Iran has kept the Islamic Republic at the negotiating table. There are hopes in some quarters of the U.S. State Department that this data, in |
| Oil Markets Will Face A Supply Crisis Before Demand PeaksThe year 2020 was a watershed moment for the fossil fuel sector. Faced with a global pandemic, severe demand shocks, and a shift towards renewable energy, experts warned that nearly $900 billion worth of reserves–or about one-third of the value of big oil and gas companies–were at risk of becoming worthless. Big Oil appears to have mostly resigned itself to this fate. Last year, British oil giant BP Plc. (NYSE:BP) sent shockwaves through the oil and gas sector after it declared that the world was already past Peak Oil demand. In the company’s |
| Natural Gas Prices Jump On Warmer WeatherThe U.S. benchmark natural gas price jumped more than 5% on Monday as power generators are expected to burn more gas to keep air conditioners going that are just now starting to come online in the lower half of the Eastern United States. As of 3:34 p.m. ET on Monday, the price of natural gas at Henry Hub was up by 4.96 percent at $3.108/ MMBtu. At the start of trading, the price was at $2.961/ MMBtu. The June Nymex contract was up $.154 from the prior settlement at $3.115/ MMBtu. Natural gas prices saw their biggest daily percentage gain since |
| The Single Most Exciting Mental Health Breakthrough Of The Decade?Today, we’re seeing the beginning of the next great biotech boom… and it has nothing to do with COVID-19. Thanks to new laws sweeping the United States, there might be a groundbreaking new opportunity building for companies like HAVN Life (CSE: HAVN; OTC: HAVLF). That’s because researchers are finally re-thinking how we deal with mental health. According to Reuters, mental health disorders is projected to be costing the world $16 trillion in the 20 year period from 2010 to 2030. And at the moment, we’re left with hundreds of flawed solutions. |
| Lamborghini announces plan for a fully-electric car by 2030Italian supercar maker Lamborghini announced that it will launch a fully-electric car in the second half of the decade. |
| Macy’s shares rise after retailer reports surprise profit, hikes full-year outlookMacy’s on Tuesday reported a surprise profit for its fiscal first quarter and raised its outlook for the full year. |
| Walmart earnings beat estimates as retailer sees robust growth in grocery and online salesWalmart’s first-quarter earnings got a lift from strong grocery and e-commerce sales. |
| Home Depot crushes estimates, its sales jump 32.7% as customers rang up bigger purchasesHome Depot handily beat Wall Street’s earnings estimates as consumers’ splurging on their homes lingers more than a year into the coronavirus pandemic. |
| Singapore approves Covid vaccine for children aged 12 to 15 as cases surgeSingapore has approved the use of the Pfizer-BioNTech coronavirus vaccine for children between the ages of 12 and 15, authorities announced on Wednesday. |
| Covid variant from India could become dominant in the UK ‘in a matter of days,’ posing unknown dangersThe coronavirus variant that first emerged in India could become the dominant strain in the U.K. in a matter of days, scientists have warned. |
| 5 things to know before the stock market opens TuesdayThe Dow was set to rise Tuesday, supported by gains in Walmart and Home Depot. |
| Experts fear a rise in online gambling harm as UK industry awaits crucial reviewSince the onset of the coronavirus pandemic, gambling companies in Britain have looked to shore up and expand their online offerings. |
| Push for patent waivers is ‘political theater’ and won’t solve vaccine shortage, CEO saysA global shortage of Covid-19 vaccines has left some scrambling to find supplies to roll out inoculation programs. |
| Generac CEO says 5G rollout increases demand for backup power generation“We think that that’s a space that is going to grow tremendously over the next five years,” Generac CEO Aaron Jagdfeld said about the emergence of 5G technology. |
| India’s Covid crisis exposes deep-rooted problems in public health after years of neglectThe unfolding Covid tragedy has laid bare the deep-rooted problems plaguing India’s public health system after decades of neglect and underinvestment. |
| Jim Cramer sees more pain ahead in cloud stocks, but some names are getting enticing“Without a major decline in interest rates, I think the cloud cohort will continue to struggle and there’s no hurry to do any buying,” the “Mad Money” host said. |
| AT&T’s WarnerMedia spinoff plan ends ‘one of the dumbest mergers in recent history,’ Jim Cramer says“AT&T made a boneheaded decision and now they’re paying for it” by spinning off WarnerMedia in a $43 billion deal, the “Mad Money” host said. |
| Futures, Global Stocks Rise As Dollar Rout AcceleratesFutures, Global Stocks Rise As Dollar Rout Accelerates US equity futures rose for the 3rd day in 4 and world stocks pushed higher on Tuesday while the dollar tumbled to three-month lows as optimism that economic reopening will boost growth outweighed concern about a pick-up in virus cases in parts of Asia even if it leads to higher prices. Oil gained and 10Y yields dropped marginally. At 7:30 a.m. ET, Dow e-minis were up 77 points, or 0.22%, S&P 500 e-minis were up 9 points, or 0.3%, and Nasdaq 100 e-minis were up 73 points, or 0.55%. Retailers Walmart and Macy’s jumped in premarket trading after raising their full-year guidance, while Home Depot gained as its results beat estimates. Commodity and automotive shares boosted the Stoxx Europe 600 Index, while Asian equities also climbed. Â
Nasdaq 100 contracts led U.S. futures higher after dovish remarks on Monday from Fed Vice-Chair Richard Clarida, who pointed to the weak April jobs report as proof of slack in the economy, and from other Fed policymakers helped to reassure markets that U.S. monetary … |
| Two Months After Biden Blasted “Neanderthal Thinking”, Texas Reports Zero COVID DeathsTwo Months After Biden Blasted “Neanderthal Thinking”, Texas Reports Zero COVID Deaths Texas Gov. Greg Abbott elicited criticism from Dr. Fauci and a host of Democrats when he decided to drop all COVID-19-linked restrictions in the Lone Star State back in March. Now, as states across the country are falling in line with President Biden’s aggressive new mask guidance (clearly intended to encourage more holdouts to accept the vaccine) Texas is reporting a milestone that many of these critics once believed unthinkable: On Sunday, the state’s Department of State Health Services reported its first day without a single COVID-19 deaths since March 21, 2020.
Confronted in an interview last month, Dr. Fauci finally acknowledged that he couldn’t explain Texas’ success. And President Biden memorably slammed Republicans in Texas (and in other southern states like Mississippi that followed Texas’ lead) |
| “Customers Want To Get Out And Shop”: Walmart Soars After Smashing Expectations, Boosting Guidance“Customers Want To Get Out And Shop”: Walmart Soars After Smashing Expectations, Boosting Guidance Walmart stock is surging premarket after the largest bricks and mortar retailer in the US not only reported blowout Q1 earnings, but also raised guidance, a remarkable achievement since it laps the pre-covid hoarding from a year ago. Here are the details: Q1 Adjusted EPS $1.69, up from $1.18 y/y, and not only smashed expectations of $1.22 , but came above the highest estimate of $1.40. Q1 Revenue $138.31BN, up 2.7% y/y, and also blowing away estimates of $131.97 billion Walmart U.S. eCommerce sales increased 37%, also blowing out the 24% expected
Same Store Sales: Total U.S. comparable sales ex-gas +6.2% vs. +10.3% y/y, estimate +2.03% Walmart U.S. comp sales ex-fuel grew 16.0% on a two-year stack Walmart-only U.S. stores comparable sales ex-gas +6% vs. +10% y/y, estimate +1.97% Sam’s Club U.S. comparable sales ex-gas +7.2% vs. +12% y/y, e … |
| Tesla Investigating Collision That Killed One Chinese Policeman And Injured AnotherTesla Investigating Collision That Killed One Chinese Policeman And Injured Another Tesla has now confirmed an accident in the Chinese city of Taizhou, in Zhejiang province, that reportedly killed one Chinese policeman, while injuring another. “Two Chinese policemen were injured in a collision Monday,” the company’s Weibo account confirmed, according to Bloomberg early Tuesday morning. Tesla reportedly “made a report to an unidentified government agency on the accident” after it occurred. The company said it “will work with the government” to investigate the accident. Differing from Tesla’s Weibo narrative, Reuters reported Tuesday morning that the accident, according to local police, caused the death of one police officer. Xinhua has reported that one of the policemen at the scene was “seriously injured” and that the driver of the Tesla was “detained by police”, according to the same Bloomberg report. We first posted about the accident on Monday after a prominent China-watcher posted that a Tesla had “run over two traffic cops in Zhejiang”.Â
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| Holiday firms refuse refunds for amber destinationsTravellers who booked ahead for 2021 or had holidays moved are finding they cannot claim money back. |
| UK farmers sound alarm over Australia trade talksLabour accuse the government of a “sell-out” amid reports of a Cabinet rift over free trade deal. |
| Eurostar secures £250m rescue packageThe cross-Channel rail operator has been fighting for survival during the pandemic as demand slumped. |
| Tata Motors Q4 results: Automaker reports surprise net loss of Rs 7,605 cr on $2 bn JLR write-offsIn the year-ago quarter, the company had reported a consolidated net loss of Rs 9,894.3 crore due to similar write off of assets in JLR. |
| One of India’s best smallcap stock pickers says market ‘ripe with opportunity’The Nifty Smallcap 100 index has more than doubled since it hit an over five-year low nearly 14 months ago, reflecting the tsunami of buying in this pocket of the market. |
| Invested in quality financial services stocks? Just stay calm to win the raceWhile credit growth of PSU banks was significantly impacted post 2014, private sector banks have been able to grow at 15%-20% despite the Indian Financial Services sector facing multiple macro headwinds over the past few years. |
| Futures Movers: Oil trades above $70 a barrel on reopening optimismOil futures rise, with the global benchmark, Brent crude, briefly pushing above the $70-a-barrel threshold for the first time since mid-March, as traders focus on reopening activity in the U.S. and Europe. |
| Metals Stocks: Gold futures extend gains to four-month highGold trades higher Tuesday, with prices extending their climb after bullion hit its loftiest level since January on the back of a weaker U.S. dollar and continued fretting about inflation and market valuations. |
| Bond Report: Treasury yields steady as U.S. stocks seen risingU.S. Treasury yields edge higher Tuesday, with appetite for bonds cooling as stocks appears to catch a bid, dimming some of the support for long-term bonds. |
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