Written by Gary
April 2021 Residential Building Growth Mixed (SPY -0.1%). U.S. housing starts fell 9.5% in April, but buildings permits edged upward
Here is the current market situation from CNN Money | |
North and South American markets finished mixed as of the most recent closing prices. The Bovespa gained 1.21%, while the IPC led the S&P 500 lower. They fell 1.14% and 0.06% respectively. |
What Is Moving the Markets
Here are the headlines moving the markets. | |
CATL Beats LG And Panasonic To Become Leading Battery MakerA newreportby Adamas Intelligence reveals that Contemporary Amperex Technology (CATL) deployed 13.3 GWh of battery capacity onto roads in newly sold passenger EVs globally, a figure that is 12% more than the 11.9 GWh deployed by its closest competitor, LG Energy Solution. CATLs battery capacity deployment was also 46% more than the 9.1 GWh deployed by Panasonic. Besides being the provider of lithium iron phosphate (LFP) batteries forTeslas China-made Model 3 cars with standard driving ranges, CATL systems | |
Prices At The Pump Stuck At 7-Year HighsGasoline prices remained elevated, with many stations staying shut despite the restart of operations at the Colonial Pipeline network following the May 7 cyberattack. Reuters reports prices were at the highest in seven years, and almost 11,670 gas stations remained closed on Monday, according to data from GasBuddy. The latest data from the company shows a decline in that number, to 11,217 stations. GasBuddy’s Patrick De Haan also said that as of 9 pm on Monday, 73 percent of fuel stations in Washington DC were still out of gasolinethe nation’s | |
Big Oil Scores Win In Supreme CourtThe Supreme Court has ruled for a case brought against 20 oil companies by the city of Baltimore to be moved to a federal court, the Wall Street Journal reports, in a potentially big win for the defendants. Baltimore sued the companies, which include Shell, BP, and Exxon, in 2018 for withholding information from the public about the risks their products carried. The city argued it had suffered damage from climate-change-related events caused by the companies’ business, including rising sea levels and extreme weather. The defendants, for their part, | |
IEA: Net-Zero Goal Means No More New Oil And Gas Investment EverThe world doesnt need any new investments in oil and gas beyond what is already approved if it hopes to achieve net-zero emissions by 2050, the International Energy Agency (IEA) said on Tuesday, adding that the road to limiting global warming to 1.5 degrees Celsius involves a rapid and radical shift away from fossil fuels. According to the IEAs pathway to net-zero emissions by 2050, the world will not need new oil and gas projects beyond those sanctioned as of this year, the Paris-based agency said in its Net Zero by 2050 report published | |
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 | |
CDC study finds disparities in Covid vaccine rates between rural and urban areasA CDC study found a lower percentage of adults in rural counties who received at least one shot than in urban counties, at 38.9% and 45.7%, respectively. | |
Covid cases dropping by 5% or more in nearly every U.S. state, vaccinations continue to fallCovid case counts are declining in nearly every U.S. state as nationwide levels of infections and deaths continue their downward trends. | |
Discovery adventure TV show to launch winning contestant to the space stationDiscovery announced a competitive adventure TV show that will launch the winning contestant to the International Space Station. | |
CDC says 600,000 kids aged 12 to 15 have received Covid shots in last weekPfizer previously said that studies showed its vaccine is 100% effective in kids aged 12 to 15. | |
How well college graduates do financially depends on their parentsIf you’re a college graduate, whether or not your parents also have a college degree likely will affect your lifetime income and wealth. | |
Macy’s says it plans to expand into pets, hair care and gourmet food to gain new shoppersMacy’s said it has begun investing in new categories for the business ” including toys, health and wellness, pets and home decor. | |
Walmart CEO says customers ‘want to get out and shop’ ” and that’s not going to fade awayThe retailer raised its forecast on Tuesday, based on its optimism after seeing consumers’ spending patterns. | |
From employer mandates to TV ads: What full FDA approval could mean for Covid vaccinesFull approval of Pfizer or Moderna’s vaccines will embolden employers to mandate the shots and the companies to advertise on TV. | |
Biden to tout EV agenda on tour of Michigan factory building Ford’s electric F-150 Lightning pickupBiden is scheduled to tour Ford’s new Rouge Electric Vehicle Center in Dearborn, Michigan, where the electric F-150 Lightning pickup will be produced. | |
Coca-Cola is turning to hard seltzer and sports drinks in a bid to stay on topWith U.S. soda consumption on the decline, Coca-Cola has been forced to pivot into new categories like sports drinks, coffee and even alcohol. | |
Macy’s CEO says its robust sales gains aren’t a ‘short-term pop’Macy’s sales grew to $4.7 billion in the latest quarter, helping it to turn a surprise profit and prompting it to raise its forecast for the year. | |
Lamborghini announces plan for a fully-electric car before 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 reported a surprise profit for its fiscal first quarter and raised its outlook for the full year. | |
Oil Plunges After US-Iran Nuclear Deal HeadlinesOil Plunges After US-Iran Nuclear Deal Headlines Oil prices just plunged following headlines from Vienna that Mikhail Ulyanov, Russia’s envoy to JCPOA talks, says “important news is likely to be released by tomorrow” and “the negotiations have made major progress”, in a statement to BBC Persian correspondent Kasra Naji. WTI is back near a $63 handle… And Brent is tumbling after breaching $70 earlier in the day… The drop in price is likely due to any deal with Iran will 1) remove s … | |
California DMV Investigating If Tesla Violated State Regulations With Self-Driving ClaimsCalifornia DMV Investigating If Tesla Violated State Regulations With Self-Driving Claims You know it. We know it. Everybody knows it: Tesla’s “Autopilot” and “Full Self Driving” names for its supposedly autonomous driving features are misleading. And they likely lead drivers into situations where they think their vehicles have full autonomy when they don’t, leading to what feels to be a neverending slew of fatal accidents involving Tesla vehicles. And now, it looks like the California DMV may finally also be catching on. That’s because Tesla is now officially “under review” and being “probed” by the California Department of Motor Vehicles “to determine whether the electric car maker misleads customers by advertising its ‘full self-driving capability’ option,” the LA Times reported late Monday. | |
Penn State To Stop Using “Freshman”, “Sophomore”, Other Terms Because Of “Male-Centric” HistoryPenn State To Stop Using “Freshman”, “Sophomore”, Other Terms Because Of “Male-Centric” History Via HumanEvents.com, In yet another case of selective bigotry, Penn State is removing all gendered and binary terms from their course and program descriptions to be more œinclusive.  The Penn State Faculty Senate approved a proposition in April, which would change the terms freshman, sophomore, junior and senior to first-year, second-year, third-year and fourth-year. And, the terms œunderclassmen and œupperclassmen would be replaced with œlower division and œupper division.  < … | |
Billionaires Are Offloading Massive Amounts Of StockBillionaires Are Offloading Massive Amounts Of Stock When the country’s CEOs and billionaires start to head to the exits a little bit quicker than usual at the tail end of a 13 year bull market, it may be time to start paying attention. That’s what we found noteworthy about a recent Bloomberg piece, which noted that stock sales by some of the world’s richest shareholders are “reaping a windfall”, thanks to our current inflated equity markets, “to the tune of trillions”. Amazon.com’s Jeff Bezos and Google co-founder Sergey Brin are just two of the well known names that have been offloading stock. They are joined by names like Mark Zuckerberg and Larry Ellison. We have covered Bezos’ recent stock sales in this article. He has sold $6.7 billion in Amazon shares this year. Bezos still owns more than 10% of Amazon and remains the world’s richest person, according to the Bloomberg Billionaire’s Index. His worth comes in at about $191.3 billion. Bezos has hastened his stock sales over the last couple of years: he sold about $4.1 billion in stock last February and sold more than $3 billion in stock last November. Larry Ellison sold 7 million Oracle shares over the past week, netting him $552.3 million. Mark Zuckerberg and his charitable foundation have accelerated sales of stock since last fall. They have cumulatively dumped $1.87 billion in stock since last November. | |
Holiday firms refuse refunds for amber destinationsTravellers who booked ahead for 2021 or had holidays moved are finding they cannot claim money back. | |
Post Office scandal inquiry to be bolsteredThe move by the government will mean witnesses could be compelled to give evidence and hand over documents. | |
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. | |
Government to sell 1.95% stake in Axis Bank to raise Rs 4,000 crThe government is selling 3.5 crore shares or 1.21% stake in the company as a base offer with a greenshoe option of 2.21 crore shares at a floor price of Rs 680 per share. | |
Profit booking dents rubber prices; analysts see 7-9% upsideOn MCX, rubber futures for May 31 delivery declined as much as Rs 170, or 0.97 per cent, to hit Rs 17,400 per tonne. At this level, the contract is 2.19 per cent away from its 52-week peak of Rs 17,789 per tonne hit last week. | |
Tata Motors Q4 takeaways: Outlook challenging, but recovery still on trackœThe business has demonstrated strong resilience in the face of adversity and its fundamentals are strong, the company said in its earnings statement in a reminder to investors that it remains on the right track. | |
April 2021 Residential Building Growth MixedWritten by Steven Hansen Headline residential building permits improved and construction completions worsened. The rolling averages improved for both permits and construction completions. | |
The Fed: Summers says Fed officials only need to ‘walk outside’ to know they’ve got it wrong on jobs and easy policyFormer Treasury Secretary Larry Summers on Tuesday continued to criticize the Federal Reserve’s easy policy stance, saying it may do real damage to the economy. | |
Earnings Outlook: Gamers spent billions more on videogames during the pandemic and companies are looking for moreThe COVID-19 pandemic, coinciding with a new generation of gaming consoles, has vaulted the videogames industry into a new stratosphere and Take-Two Interactive Software Inc. late Tuesday will cap an earning season that indicates publishers are seeing more room for growth. | |
NewsWatch: Fund managers position for ‘boom expectations’ with tech demand at three-year lows, Bank of America survey findsThe Bank of America global fund manager survey for May found that investors were increasingly positioned to what it called “boom expectations” ” with exposure to commodities, banks, materials, industrials, and U.K. and emerging market assets at highs relative to the last decade. |
Earnings Summary for Today
leading Stock Positions
Current Commodity Prices
Commodities are powered by Investing.com
Current Currency Crosses
The Forex Quotes are powered by Investing.com.
To contact me with questions, comments or constructive criticism is always encouraged and appreciated: