Written by Gary
Oil demand is rebounding fast in Europe (SPY +0.4%). ‘Mad rush’ to buy homes faded in April.
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. | |
Is The IEA Report A Tipping Point For Oil Investing?The eventual death of oil and thermal coal won’t come from environmentalists or even directly from renewable energy–it will come when big banks decide to stop financing it, rendering it ‘unbankable’. Two years ago, one of the biggest financiers of fossil fuels, Goldman Sachs (NYSE:GS), made history after becoming the first big U.S. bank to rule out financing new oil exploration or drilling in the Arctic, as well as new thermal coal mines anywhere in the world. GS’ environmental policy declared climate change as one of the “most significant | |
Google, Amazon And Netflix Are Scrambling for This Rare GasThis could be one of the most critical supply squeezes of our lifetimes for a gas that is oddly both abundant and rare. And tech giants are about to find themselves fighting for who gets the leftovers, while the next explorer to make a discovery will probably reward investors multiple times over. This gas is a very important part of hard drives. Its the linchpin of big data storage, which we cant get enough of. Its essential to IBM (NYSE:IBM), the king of quantum computing. Tesla CEO Elon Musks | |
UAE: Oil Demand Has Already Increased To 95 Million BpdOil demand has already increased to 95 million barrels per day (bpd), and the market is rebalancing, according to the chief executive of the Abu Dhabi National Oil Company (ADNOC), Sultan Ahmed Al Jaber. ADNOC pumps nearly all the oil in one of OPECs largest producers, the United Arab Emirates (UAE). Speaking at the virtual Columbia Global Energy Summit, Al Jaber also notedas carried by Reutersthat investments in oil and gas had declined in the past five years with companies sticking to capital discipline since the previous | |
U.S. Shale Is Finally Giving Shareholders A PaydayUnlike in the previous downturn in 2015-2016, U.S. shale producers are exiting the 2020 oil price and demand collapse with their promises intact to rein in production growth and return more cash to increasingly demanding shareholders. The first-quarter earnings and conference calls highlighted a previously unheard-of restraint from public shale firms. Listed producers generated record cash flows, but they are not reinvesting most of those back to drilling. Instead, shale operators are now channeling cash flow toward | |
Oil Demand Set To Surge As Travel Picks UpAs restrictions ease across Europe, we are slowly seeing a resurgence in fuel demand for travel, not only in gasoline and diesel but also in jet fuel as travel and tourism gradually pick up. In recent weeks, there has been some optimism across Europe as U.K. fuel sales reached their highest level since the start of the pandemic restrictions in 2020. In addition, toll roads across France, Italy, and Spain experienced their greatest use since the same months in 2019. As European refiners produce over twice as much diesel as gasoline, the demand | |
Oil Demand Is Rebounding Fast In EuropeTraffic on Europes highways and in the biggest cities has been rising in recent weeks as economies reopen, suggesting a rebound in road transportation fuel demand. Traffic on highways in Spain and France, one of the largest car markets in Europe, is now only slightly off the pre-COVID levels from 2019, according to data from highway operators quoted by Bloomberg. Many European countries have been gradually reopening over the past month while advancing vaccination rates prompt more people to travel on the roads. This is bullish news for gasoline | |
Gwyneth Paltrow’s Goop threatened with shutdown in the UKGwyneth Paltrow’s wellness company Goop has been warned that its U.K. operations could be shut down after failing to file its accounts. | |
5 things to know before the stock market opens FridayU.S. stock futures pointed to a second straight day of gains, one day after a rebound rally halted a three session losing streak. | |
Medical cannabis firm backed by Snoop Dogg begins trading in LondonMedicinal cannabinoid company Oxford Cannabinoid Technologies (OCT), which enjoys backing from rapper Snoop Dogg, launched on the London Stock Exchange Friday. | |
Off-the-grid homes are coming to your neighborhood, as climate change creates suburban survivalistsIncreasingly extreme weather from climate change is now a year-round phenomenon. This has homebuilders reconsidering how they design and power new homes. | |
‘I’m not buying it’: One strategist says Wall Street is wrong to be bullish on European stocksAnalysts at Morgan Stanley say Europe is well-placed to outperform all major regions this year for the first time in more than two decades. | |
Unvaccinated Americans are less worried about traveling than vaccinated Americans are, study saysUnvaccinated people appear more comfortable traveling ” and to more densely-populated places ” than vaccinated people, according to data from Zeta Global. | |
As Covid mutations spread, will herd immunity ever be possible?Vaccinations are ramping up, but coronavirus mutations are spreading. Experts weigh in on whether herd immunity is possible. | |
Barrick Gold CEO pans cryptocurrencies as an inferior store of value than gold“That’s one thing you can’t do is no one can print gold. We can still make cryptocurrencies,” Barrick Gold CEO Mark Bristow said crypto markets turn volatile. | |
Fauci says it’s conceivable that middle and high schools will be mask-free in the fallDr. Anthony Fauci discusses the future of Covid booster shots and masks in schools. | |
McDonald’s franchisee fight over tech fees could wind up in courtSome of McDonald’s franchisees are voicing support for a potential legal action against the fast food giant over $70 million in technology fees. | |
Jim Cramer adds current and past AT&T CEOs to Wall of Shame: ‘Thanks for nothing’“Randall Stephenson and John Stankey, welcome to the Wall of Shame,” “Mad Money” host Jim Cramer said while railing about AT&T’s move to spinoff WarnerMedia. | |
Bank of America ‘willing to pay what it takes’ to hire best talent, CEO saysBank of America wants to attract and retain the best talent, and the bank is willing to pay extra for it, CEO Brian Moynihan said Thursday. | |
Lakers-Warriors NBA play-in game draws 5.6 million viewersESPN said the contest, which featured superstars LeBron James and Steph Curry, was the most-watched NBA game since the 2019 Western Conference finals. | |
The ‘Threat Board’ Is Looking BusyThe ‘Threat Board’ Is Looking Busy Authored by Bill Blain via MorningPorridge.com, œI don’t suppose it’s anything.. Are we expecting any planes from the East this morning? Â Markets are digesting what’s been a fascinating week in terms of swings, tensions and threats. Everything from Supply Chains, Taper and Inflation is on the radar as speculative assets swing widely. Maybe it’s time to sit back, step away and take time to consider the macro issues of recovery, and the micro issues about how the pandemic has altered behaviours. The UK’s bounce bank loans could highlight how the world has changed as massive defaults are expected. That was an interesting week for markets. It’s little wonder it all feels a bit wobbly. What did we learn? At the macro level there are many things beginning to … | |
House Republicans Release COVID-19 Origins Report As Biden CDC Director Admits Lab-Leak ‘Possibility’House Republicans Release COVID-19 Origins Report As Biden CDC Director Admits Lab-Leak ‘Possibility’ Republicans on the House Intelligence Committee led by Devin Nunes (R-CA) say there is “significant circumstantial evidence” that COVID-19 originated from a lab leak at the Wuhan Institute of Virology, according to a Wednesday report released obtained by Fox News. According to the report, the federal government needs to put “more pressure on China” to allow a “full, credible investigation” into the source of the pandemic, adding that it’s “crucial for health experts and the U.S. government to understand how the COVID-19 virus originated” to prevent “or quickly mitigate future pandemics.” Wuhan Institute of Virology Hell has a greater chance of freezing over, but we digress. “International efforts to discover the true source of the v … | |
Germany’s Price Pressures Show Worrisome TrendGermany’s Price Pressures Show Worrisome Trend By Laura Cooper, Bloomberg reporter and Markets Live commentator Signs of an upbeat European services recovery are being captured in those headline May PMI prints. But it’s the German manufacturing report details that warrant caution ” growing supply constraints could thwart the growth recovery and spur inflationary pressures. Both Germany and France punched out higher-than-expected flash services prints, abetted by the gradual lifting of pandemic restrictions. The 56.6 services figure in France and 52.8 in Germany boosted the composite gauges from last month. But Germany’s manufacturing print eased from April, missing market expectations at 64.0, and largely on account of the severity of supply-chain issues. | |
Tesla Vehicles Banned From Some Chinese Government CompoundsTesla Vehicles Banned From Some Chinese Government Compounds The ongoing saga that is the relationship between the CCP and Tesla has once again taken another “interesting” turn. Staff at some Chinese government officers were told this week not to park their Tesla cars inside of government compounds “because of security concerns over cameras installed on the vehicles,” Reuters reported on Friday morning. “At least two government agencies” in Beijing and Shanghai have been told the same, according to the same report. It’s unclear how many employees and vehicles this has a direct impact on. It’s also unclear whether or not all government offices in Beijing are following similar restriction, Bloomberg noted. However, it does seem to us to be the type of small step China could take to send a continuing message to its citizens without coming out and telling them to avoid Tesla vehicles. The CCP, through China state media, had already threatened pressure on Tesla sales earlier this year due to how the company handled a protest over its brake quality at this year’s Shanghai Auto Show. | |
Leonard Blavatnik named UK’s richest person with £23bn fortuneSir Leonard Blavatnik topples Sir James Dyson as the UK’s richest person, according to the Sunday Times Rich List. | |
Retail sales soar 9.2% in April as shops reopenRetail sales jump 9.2% in April as people returning to work and going out “update their wardrobes”. | |
‘Mad rush’ to buy homes faded in AprilProperty sales fell from the record highs of March, but analysts say activity is still high in the market. | |
Tech View: Nifty breaches key resistance at 15,150, eyes further gainsOn the weekly scale, the index formed a Bullish Marabozu pattern. The index has set its sights on the 15,300 level, breaching which it can make fresh highs, analysts said. | |
FMCG pack can underperform for multiple years, says JefferiesJefferies said if the economy were to see a sustained capex-led upturn, there is a real risk of FMCG underperforming the broader index over the coming years. | |
Hindalco Q4 PAT surges 189% YoY to Rs 1,928 cr; firm to pay Rs 3 dividendThe company’s consolidated revenue from operations jumped 38 per cent on-year to Rs. 40,507 crore for the reported quarter. | |
Rail Week Ending 15 May 2021 – Growth Surge ContinuesWritten by Steven Hansen Week 19 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. | |
: True COVID-19 global death toll is likely 2 to 3 times higher than official count of 3.4 million, warns WHOThe number of global deaths caused by the coronavirus-borne illness COVID-19 is likely far higher than official numbers suggest, as all countries are struggling to provide accurate statistical models and counts, the World Health Organization said Friday. | |
NewsWatch: Facebook’s overtaken Amazon as top hedge fund holding, according to Goldman Sachs. Here’s what else funds have loaded up on.According to Goldman Sachs, during the last 18 years, stocks with the largest increase in the number of hedge-fund investors have typically gone on to outperform sector peers during the quarters following their rise in popularity. | |
: ESG funds are ‘going to suffer’ as tech stocks lag and value beats growthMany growth-oriented, tech-heavy ESG funds are falling as energy and industrials rebound. |
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