Written by Gary
Wall Street futures rose modestly this morning, setting up the DOW to add to its three-session winning streak (SPY +0.3%). The SP 500 is set to gain a second day as Bitcoin stabilizes lower.
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. | |
 | Secret Meeting Between Saudi Arabia And Iran May Trigger Major Policy ChangeA number of peculiar things have happened in the Middle East in the past few weeks involving the U.S., Saudi Arabia, and the UAE, all with some sort of focus on Iran. To begin with, at the end of April, the U.Ss designated main man in Saudi Arabia – Crown Prince Mohammed bin Salman stated very publically that he seeks a good and special relationship with IranWe do not want Irans situation to be difficult, on the contrary, we want Iran to grow and to push the region and the world towards prosperity. |
| America’s Gas Crisis Could Send These EV Stocks Even HigherIt’s one of the most devastating shortages in the energy markets since the 1970s. And soon, it could spark the beginning of the next phase of the EV boom Creating an opportunity for up-and-comers like Facedrive (TSXV:FD,OTC:FDVRF). Earlier this month, 5,500 miles of the Colonial Pipeline were shut down by a hacker group called DarkSide. The attack left millions along the entire east coast of the United States unable to fill their tanks. The operators of the pipeline were forced to pay an incredible $5 million in ransom to regain control |
| Ambitious Energy Goals Are Hurting European BusinessesEuropean carbon prices are running at record highs these days, and they have more room to rise, according to some analysts and traders. On the face of it, this is excellent news: the costlier that carbon emissions get, the more that businesses should be motivated to invest in cleaner sources of electricity generation. In practice, things are not as simple as this. Earlier this year, when carbon prices started rising fast, European industrial associations called on EU authorities to set a so-called border tax for the carbon emissions generated by |
| California Launches Rulemaking To Ban Fracking In 2024California initiated on Friday the pre-rulemaking stage of proposed legislation that would end fracking in the state in 2024. The Department of Conservation, Geologic Energy Management Division released pre-rulemaking draft regulations for the purpose of receiving ?public input on the development of a rule that ends permitting for well stimulation treatments in? 2024. The comment period ends on July 4, 2021, and the division will review the comments and consider them in developing proposed regulations for formal rulemaking. The departments |
| U.S. Drivers In For A Gasoline Price Shock At The PumpIts one of the busiest travel days of the year in the United States. As drivers ready to hit the road for their Memorial Day weekend road trips, they might want to bring along a fatted walletbecause gasoline prices at the pump are soaring, according to new information from AAA. The United States will see 60% more travelers this year than last year, the AAA newsroom reported, with more than 37 million people expected to travel 50 miles or more. And while that may seem like a large number, it is still 6 million fewer than pre-pandemic |
| $150 Billion In Stolen Oil Money Smuggled Out Of IraqSome $150 billion in oil revenues has been stolen and smuggled out of Iran since the fall of Saddam Hussain in 2003, the president of Iraq said, as quoted by media, at the introduction of a new law aimed at fighting corruption. “Of the close to a trillion dollars made from oil since 2003, an estimated $150 billion of stolen money has been smuggled out of Iraq,” President Barham Saleh said, as quoted by The New Arab, as he urged the Iraqi parliament to ” adopt this crucial piece of legislation, in order to curb this pervasive practice that has plagued |
| Moderna says its Covid vaccine is 100% effective in teens, plans to seek FDA OK in early JuneModerna’s Covid-19 vaccine is the second shot behind Pfizer’s to demonstrate high efficacy in younger age groups. |
| From powerful tidal turbines to huge wave machines, Scotland is becoming a hub for marine energyOver the years, a wide range of companies have tested their tech at Orkney’s European Marine Energy Centre. |
| 5 things to know before the stock market opens TuesdayU.S. stock futures rose modestly Tuesday, setting up the Dow to add to its three-session winning streak. |
| Wall Street has high expectations for Ford’s investor dayFord’s stock price has roughly doubled since Farley took control of the company Oct. 1. Investors will be watching to see if he can keep up the momentum. |
| The 2021 CNBC Disruptor 50: How we chose the list of companiesA record 1,565 start-ups were nominated for the 2021 CNBC Disruptor 50. Here’s the criteria that ultimately set the list-makers apart from the field. |
| These are the 2021 CNBC Disruptor 50 companiesCNBC reveals the 2021 Disruptor 50 list, identifying start-ups leading consumer, technology and business shifts ” and valued by investors in the billions. |
| Belarus opposition says activist arrested after plane diversion is president’s ‘personal enemy’Roman Protasevich played an “important role” in mobilizing people to join protests, said Franak Viacorka, senior advisor to a Belarus opposition leader. |
| India isn’t the only one. Covid cases are rising at record levels in these places tooNations from Argentina to Nepal have reported record increases in Covid cases in the last few weeks, data compiled by Johns Hopkins University showed. |
| Indians turn to social media for help as Covid crisis overwhelms the health-care systemPeople desperate for hospital beds, oxygen cylinders and medication have posted requests on Twitter, Facebook, WhatsApp and Instagram for public help. |
| U.S. should dig deeper into theory that Covid originated in a Wuhan lab, ex-Clinton official saysAn ex-Clinton official explains why the U.S. should be playing a larger role in getting to the bottom of the theory that Covid leaked from a Wuhan lab. |
| Manufacturing could return to China, as Covid cases spike in India and VietnamThe U.S.-China trade war caused businesses to move their supply chains out of China ” but China’s fortunes may change as other countries see a Covid resurgence. |
| Cramer says he’s confident inflation will not end up crushing U.S. economy“We may finally have some real inflation, but I don’t think their dire predictions of financial catastrophe” will come true, CNBC’s Jim Cramer said. |
| Live Nation says concert venue bookings rebounding as artists book events into next yearDemand for concert venue bookings is higher for 2022 than it was in 2019, Live Nation Entertainment’s president said. |
| Don’t Let The Media Get Away With U-Turning On The Lab Leak TheoryDon’t Let The Media Get Away With U-Turning On The Lab Leak Theory Authored by Stephen L. Miller via Spectator.us (emphasis ours), The theory that COVID-19 originated in a Chinese laboratory has completed its year-long trudge ” from fringe nutjob idea to mainstream and expert-approved opinion. Leading scientists and epidemiologists such as none other than Dr Anthony Fauci were so quick to dismiss the ‘lab talk’. It was first portrayed as a hare-brained wild and tacitly racist conspiracy theory driven by paranoid Republican senators and fever-dream right-wing media. Now it is seen as not only an acceptable theory worth more study, but one that has broken throug … |
| Elizabeth Warren Bill Would Force Banks To Reveal ‘Account Flows’ To Catch Wealthy Tax Cheats, Focus On ‘Racial Inequities’Elizabeth Warren Bill Would Force Banks To Reveal ‘Account Flows’ To Catch Wealthy Tax Cheats, Focus On ‘Racial Inequities’ New legislation proposed by Sen. Elizabeth Warren (D-MA) would supercharge the IRS’s ability to catch wealthy tax cheats, as well as “do more to focus on racial and income inequities in the IRS enforcement process,” according to Bloomberg
Warren’s legislation would allocate a fixed, annual $31.5 billion to the Internal Revenue Service, up from the $11.9 billion allocated by Congress for 2021 – and significantly higher than the $80 billion cash infusion over a decade featured in President Biden’s “American Families Plan.”
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| Bezos. Jeff BezosBezos. Jeff Bezos By Michael Every of Rabobank Who Has Got Any Talent? Amazon is going to buy MGM studios for USD9bn. Not for love of ‘Ars’ or ‘Artis’, but for the gratis intellectual property that can be switched to its streaming service. Coverage of this deal is accompanied by pictures of James Bond, because he is MGM’s. Yet given the Bond films have aged badly, and there is not that much excitement for the ‘new’ one, we can probably expect spin-offs like ‘Young James Bond’; Woody Allen’s Jimmy Bond from the 1967 Casino Royale, which also starred Peter Sellers as James Bond; and Roger Moore, the actor himself, as the post-plastic surgery Inspector Clouseau. Such gems will soon be Amazon’s. In short, while there is a critical shortage of content for the streaming screen time we are all embracing, I am not sure if the real solution comes from the supply side, rather than just watching less rubbish. Meanwhile, such imbalances, and which side to solve them from, remain true all over. In US/Western labor markets there is also a mad search for talent ” and a critical shortage: yet the average SME can’t pony up USD9bn to encourage bar-staff to come back. So does that mean the economy is weak or strong? And on the goods front, it is still unclear how we are going to get more supply at all for some things. The la … |
| Futures, Tech Stocks Jump After Fed Officials Talk Down Inflation RisksFutures, Tech Stocks Jump After Fed Officials Talk Down Inflation Risks US equity futures and tech stocks gained for a second day, rising alongside European and Asian stocks after Fed officials on Monday played down the risk of “non-transitory” inflation easing bond yields for the fourth straight day, as investors waited for consumer-confidence data. At 7:00 a.m. ET, Dow e-minis were up 75 points, or 0.2%, S&P 500 e-minis were up 11 points, or 0.26%, and Nasdaq 100 e-minis were up 63.75 points, or 0.47%.
œMonday’s lethargy seems to have been shaken off after a chorus of Fed voices delivered dovish statements, downplaying arguments for early tightening, said Nema Ramkhelawan-Bhana, an analyst at Rand Merchant Bank in Johannesburg, œLet’s not forget that it only takes one inflation print to unsettle investors or a strong economic figure to guide nominal yields higher. And so the lesson is to make hay while the sun shines. The S&P 500 and the Nasdaq ended about 1% higher on Monday after Federal Reserve officials maintained that the U.S … |
| UK tourism spending ‘worth just half of pre-pandemic level’The sector is set for a slow recovery from the pandemic, with foreign visitors still staying away. |
| Government borrowing fell in April as UK reopenedDespite the fall, borrowing was still the second highest on record for April as Covid spending continues. |
| Bank of England suspected Gupta bank in 2019Wyelands Bank, part of Sanjeev Gupta’s business empire, was under investigation two years ago. |
| Emami Q4 results: Net profit jumps over three-fold to Rs 88 crIts revenue from operations in January-March 2021 jumped 37.2 per cent to Rs 730.76 crore as against Rs 532.68 crore in the year-ago period, Emami said in a regulatory filing. |
| HDFC sells Reliance Infra shares worth over Rs 43 croreThe corporation has further sold 81,05,677 shares representing 3.08 per cent of the share capital of Reliance Infrastructure, HDFC said in a regulatory filing on Tuesday. |
| From $1t mcap in 2007 to $3t in 2021: A look at D-St’s journeyThe Indian stock market has ignored economic setbacks due to the pandemic, surging to a market capitalisation that crossed $3 trillion for the first time on Monday, marking a stellar run from the bottom of the crash last year. It comes 14 years after the combined value of listed companies in India crossed $1 trillion for the first time, in May 2007. |
| IPO Report: Figs IPO: 5 things to know about the healthcare apparel company before it goes publicFigs Inc., an apparel and lifestyle company for healthcare workers, has filed to take the company public, eight years after the co-founders started the company by selling products out of their cars. |
| : Bigger dogs, bigger bowls: Petco’s CEO says pandemic pooches are one factor behind the company’s growthPet adoptions soared during COVID-19, creating opportunities for Petco, the company’s CEO said during the recent earnings announcement. |
| : AstraZeneca’s $39 billion takeover of U.S.-based Alexion Pharmaceuticals examined by U.K. regulatorThe deal has already been approved by the U.S. and Canadian authorities. |
Right all along? Sen. Tom Cotton was denounced as a conspiracy theorist last year for suggesting that SARS-CoV-2 might have emerged from the Wuhan Institute of Virology (Getty)
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