09Jun2021 Pre-Market Commentary: Oil Futures Rise Wednesday, With WTI Above 70, DOW Flat Up 4 Points, Nasdaq Higher +0.4%, Bitcoin Back Up At 35000, Best Buy Will Close On Thanksgiving Day

Written by Gary

Oil could reach $80 this summer (SPY +0.2%). Stocks making the biggest moves in the premarket: Clover Health, Campbell Soup, Lordstown Motors.

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.
	The Permian Has Solved Its Natural Gas Pipeline Shortage More natural gas pipelines have entered into service in recent months to carry gas from the Permian basin to Mexico, boosting U.S. gas exports to Americas neighbor to the south and reducing the wide discount at which gas traded at the Waha Hub in Texas. Two natural gas pipelines have been completed in Texas since October 2020 and two others in Mexico, increasing the connectivity between natural gas producers in the Permian basin and the main markets for natural gas in the area and in Mexico, the U.S. Energy Information Administration
	Is This The Beginning Of The End For Oil Super Majors? Energy-oriented investors could not fail to have taken note of thedecisionthat came down in the Dutch court against Shell, (NYSE:RDS.A), (NYSE:RDS.B), last week. This decision was the first time an energy giant had been held liable for emissions not directly tied to its internal activities. Basically it requires Shell to accelerate its planned carbon intensity reductions by 45% to include “Scope-3 emissions” by 2030. Some twenty years sooner than the time frame to which it has already committed publicly. For those who are unaware,
	Could This Be One Of The Most Exciting Gold Discoveries Of 2021? Last year a little-known gold miner in Quebec struck it bigWith early investors netting 7,000% returns.The miner, Amex Exploration, hit the jackpot at its Perron Gold projectbut we think thats nothing compared to what could unfold right next door.See, it looks like another savvy small-cap was already on the prowl nearby when Amex made its initial announcementIn fact, it scooped up an older mine that many of its peers had already written offThe notorious Normetal Mine has already given the market over 10 million
	How A 100 Year Old Science Experiment Helped Create The Fuel Of The Future Over a century ago, a unique chemical process helped take the world from the brink of a food crisis that wouldve led many to starve. It was called the biggest global problem solved by chemistry and delivered its creators a well-deserved Nobel Prize. But today, this breakthrough could help revolutionize the $1.5 trillion green energy revolution, resulting in substantial upside for the companies leading the charge in the industry. AmmPower (CSE:AMMP; OTC: AMMPF), for example, has taken off for huge 207% gains over the last year,
	Oil Could Reach $80 This Summer, But Theres A Catch After 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 46.2% in the year-to-date, making the broader market S&P 500s 12% gain appear pedestrian. Oil prices appear to have stabilized in the upper 60s with WTI price finding support around $65 per barrel while Brent is seeing support around $67 per barrel. The sector has a successful Covid-19 vaccination rollout and gradual recovery of the global economy to thank
	Utility Monopolies Are To Blame For Americas Infrastructure Woes Your energy most likely comes from a monopolized power grid. Monopolies, in economic theory, are patently bad for a market, its consumers, and everybody except the one doing the monopolizing. But in the case of electric utilities, a natural monopoly, its not quite that simple. Defenders of monopolies in the case of electricity actually have some solid ground to stand on. But so do the detractors. In the United States, conventional utilities fall into the category of natural monopolies. This means that they naturally
	Best Buy says stores will close Thanksgiving Day, to offer Black Friday deals online The consumer electronics retailer was among those that offered more deals online last holiday season.
	Lines between men’s and women’s fashion are blurring as more retailers embrace gender-fluid style With designer brands like Gucci now catering to people looking for gender-neutral options, it’s starting to feel like gender-fluid fashion is going mainstream.
	Aspirin does not improve survival chances for hospitalized Covid patients, British study finds The cheap and widely-available drug aspirin does not improve survival for patients hospitalized with Covid-19, a U.K. study has found.
	In China’s new Covid hotspot, police detain those who violate virus prevention measures Guangzhou in south China is trying to stem the spread of the Delta Covid variant first found in India, taking measures including lockdowns and legal routes.
	Chipotle hikes prices to cover the cost of raising wages Chipotle Mexican Grill has hiked menu prices by roughly 4% to cover the cost of raising its workers’ wages.
	5 things to know before the stock market opens Wednesday U.S. stock futures were flat Wednesday, one day after the S&P 500 inched closer to last month’s record close.
	How these millennial tech founders pulled off Indonesia’s biggest-ever business deal GoTo founders Kevin Aluwi and William Tanuwijaya made Indonesian history after merging their tech start-ups in the country’s biggest-ever business deal.
	Tesla’s China sales struggle to bounce back from an April slump Tesla sold 33,463 electric cars in May, up 29% from April, but still short of March’s 35,478 units, according to the China Passenger Car Association.
	Biohaven CEO says drug approval is ‘monumental’ for migraine patients “This is going to change the paradigm in which migraine is treated,” Biohaven Pharmaceutical CEO Vlad Coric said after Nurtec ODT received FDA approval.
	Thor Industries racks up $14 billion order backlog amid sustained RV demand Thor Industries CEO Bob Martin said the recreational vehicle maker is struggling to replenish dealer inventories after backlog grew 32.5% quarter over quarter.
	Wall Street Bets targets Wendy’s with new stock buying strategy, Jim Cramer says “Now they’re spreading their wings, even into an institutional favorite like Wendy’s with a very low short position,” the “Mad Money” host said.
	‘Nothing changed overnight’ to make Wendy’s a better bet, trader says as stock sees Reddit interest Wendy’s shares are at all-time highs as Reddit traders find a new target in the fast-food company, but two traders are steering clear for now.
	Lumber executive sees further relief in sky-high prices, says delaying building projects makes sense Lumber industry veteran Kyle Little said it’s sensible to delay building projects due to high wood costs. “We do see some relief over the next six to 12 months.”
	Watch: Fauci Pal Daszak Describes “Chinese Colleagues” Developing “Killer” Coronaviruses Watch: Fauci Pal Daszak Describes “Chinese Colleagues” Developing “Killer” Coronaviruses Authored by Natalie Winters via TheNationalPulse.com, EcoHealth Alliance President Peter Daszak ” who collaborated with the Wuhan Institute of Virology on research funded by Dr. Anthony Fauci’s National Institute of Allergy and Infectious Disease ” appears to boast about the manipulation of œkiller SARS-like coronaviruses carried out by his œcolleagues in China in a clip unearthed by The National Pulse. Daszak made the admission at a 2016 forum discussingÂ œemerging infectious diseases and the next pandemic, which appears to be at odds with Fauci’s repeatedÂ denialÂ of funding gain-of-function research at the Wuhan Institute of Virology. …
	Biden And EU Leaders To Unravel Trump’s $18 Billion ‘America First’ Tariff Fight Biden And EU Leaders To Unravel Trump’s $18 Billion ‘America First’ Tariff Fight President Joe Biden and his European Union counterparts will commit to ending outstanding trade battles next week at an EU-US summit in Brussels on June 15, as globalists eager to get back to ‘business as usual’ seek to unravel tariffs related to a steel and aluminum conflict which came to a head under the Trump administration – contributing to over $18 billion in US and EU exports subject to steep levies. According to Bloomberg, which has seen a draft of the conclusions, the allies will agree to resolve disagreements – including a nearly two-decade old aircraft dispute which involves illegal government aid provided to Airbus and Boeing – before July 11. In advance of the agreement, US and EU leaders have agreed to suspend aircraft tariffs until July ahead of the pending settlement. …
	Futures Flat As Meme Stonks Rage, 10Y Yields Tumble Futures Flat As Meme Stonks Rage, 10Y Yields Tumble S&P futures traded in a narrow 8 point range near all-time highs as a lack of clear catalysts kept trading slow, with investors awaiting fresh cues from inflation data this week and an upcoming Federal Reserve meeting. 10Y TSY yields dropped below 1.50% for the first time since May 7 amid a plunge in odds that Biden’s reflationary infrastructure program will pass, and easing fears that tomorrow’s CPI print will smook markets. At 07:15 a.m. ET, S&P 500 E-minis were up 3.25 points, or 0.08%, Dow E-minis were down 37 points, or 0.1%, while Nasdaq 100 E-minis were up 40 points, or 0.29%. The dollar dropped against all of its G10 peers. Â On Tuesday, U.S. stocks closed within a hair’s breadth of a record high and Treasuries rose as investors debated the impact of resurgent inflation on monetary policy. œInvestors are likely to be in a wait-and-see mode, said Mitsushige Akino, a senior executive officer at Ichiyoshi Asset Management. œPeople will want to check how market expectations over the Fed’s policies c …
	House Problem Solver’s Caucus Pushes $768 Billion Infrastructure Compromise House Problem Solver’s Caucus Pushes $768 Billion Infrastructure Compromise Could President Biden’s push to pass the first part of his “Build Back Better” ‘Great Society’-style scheme be any more disorganized? Last night, Bloomberg reported that talks between President Biden and Sen. Shelly Capito, the lead GOP negotiator had collapsed over deep disagreements over what constitutes “infrastructure”. Biden has been trying to push his climate agenda via the legislation, something Republicans have resisted. After talks fell apart, a handful of senators were said to be in negotiations. And on Wednesday morning, Bloomberg reported that a different bipartisan group of lawmakers, comprising Democratic and Republican members of the House “Problem Solver’s Conference,” had managed to keep alive hope for a deal by coming together to back some $761.8 billion in new spending over eight years. Together with the $487.2 billion of spending likely to be approved via Biden’s budget, this would …
	Covid: What do we know about global youth unemployment? Young people have suffered from the economic consequences of Covid.
	BA and Ryanair investigated for refusing refunds A watchdog is investigating whether the airlines broke the law in not offering Covid refunds.
	The young people fighting to save their careers From Crawley to Cadiz, young people are fighting for their careers as the covid pandemic continues.
	Top rupee-bond banker says time for Indian firms to issue œThe market levels are absolutely fantastic, absolute yields are quite low at multi-year lows, spreads are quite tight, said Neeraj Gambhir, group executive and head – treasury, markets and wholesale banking products at Axis Bank.
	Rs 5,500 crore Sona BLW IPO to open on Monday; price band fixed at Rs 285-291 On the block is a fresh issuance of equity shares, aggregating up to Rs 300 crore and an offer for sale of up to Rs 5,250 crore with of shares. Selling shareholders include Singapore VII Topco III Pte.
	Exports, ethanol boost to sweeten sugar mill margins up to 100 bps: Crisil The recent announcement by the government to advance the ethanol-petrol blending target of 20 per cent by two years to 2023, could help sustain this momentum over the medium term.
	Need to Know: As GameStop readies earnings, here’s one area in which WallStreetBets can declare victory There has been one change in the stock market that is likely due to the Reddit WallStreetBets forum.
	Futures Movers: Oil prices rise as U.S. benchmark extends push above $70 a barrel Oil futures rise Wednesday, with the U.S. benchmark pushing above $70 a barrel.
	: Vaccinated and need a vacation? CDC relaxes travel advice for Americans to more than 100 countries. The CDC updated its country-by-country travel recommendations on Monday, allowing fully COVID-19 vaccinated Americans to visit a number of new countries, including France, Italy, Spain and Germany.