Written by Gary
U.S stock futures were mixed after the S&P 500 closed at another record high Friday (SPY +0.1%). Stocks making the biggest moves in the premarket: Boeing, Intellia Therapeutics, Perion Network.
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 Namibia Could Become The Biggest Oil Story of the DecadeWhat we think is shaping up to potentially be the last great onshore oil discovery in the world has just announced encouraging results in the first section of its second well in Namibias giant Kavango Basin, and modern history suggests that first well successes are rarely reversed. Thats huge news for investors in the junior explorer, Reconnaissance Energy Africa (TSXV:RECO, OTC:RECAF), that slipped into this massive play before the supermajors had time to blink. What looks to have been a brilliantly timed acquisition | |
Wastewater Problem Could Cap U.S. Shale GrowthHydraulic fracturing, the technology that made the United States the worlds top oil and gas producer, has earned a really bad rap. Much of this ill reputation has had to do with increased seismic activity in shale oil and gas regions. But research cited by the U.S. Geological Survey showed a few years ago that its not fracking itself that is the problem. The problem is the disposal of wastewater, and it is not going away. Earlier this month, Rystad Energy warned in a report that the number of seismic events in key oil-producing | |
Biden’s Import Ban Could Break The U.S. Solar BoomThe U.S. Administration banned imports of material for solar panels from a Chinese company this week as America seeks to eradicate forced labor from its supply chain. The Biden Administration says that the import ban on silica-based products from a company in China’s Xinjiang region will not impact the booming U.S. solar industry. But some analysts are not so sure and think there would be negative effects on the American solar panel manufacturing supply chain. The United States is prohibiting imports of silica-based products made by | |
Why Did Iraq Pull The Plug On Its $2 Billion Oil Deal With China?Just when it looked like Iraq was becoming a regional leader it decided to halt a $2 billion pre-paid oil supply deal with China’s state-owned Zhenhua Oil Co. despite aims to strengthen ties with China. Iraq decided to end a deal with Zhenhua and sell its crude supply to other customers as oil prices continue to rise. The deal with the Chinese company, that was agreed upon earlier this year, would have seen 4 billion bpd of oil supplied each month. The oil was expected to be destination free, meaning Zhenhua could sell it to | |
Is It Time For The Solar Industry To Look In The Mirror?Silicon panels pretty much rule the solar energy sector, with more than 90% of panels manufactured using the versatile element. This is not by chance; Si PV cells are cheap, robust, relatively easy to install, and perform reliably for decades. Unfortunately, they also come with a major drawback: Silicon PV panels are quite inefficient, with the most affordable models managing only 7%-16% energy efficiency depending on factors like placement, orientation, and weather conditions. Indeed, solar cells have been around for more than six decades, | |
The Dawn Of A New Era For U.S. ShaleHigher oil prices and capital expenditure discipline are setting the stage for the highest free cash flow on record for the worlds exploration and production companies this year. And U.S. shale firmsset to generate $60 billion free cash floware primed for playing a key role in the record-breaking free cash flow from global upstream operations. The U.S. shale patch is expected to be the biggest beneficiary of capex discipline and high oil prices, as well as the largest contributor to the highest-ever free cash flows | |
How Porsche went from sports cars to SUVs … and EVsPorsche is one of the most legendary names in sports cars. Purists were skeptical about its move toward SUVs, but it proved successful. Can it repeat with EVs? | |
Here are 5 ways to spend money that can actually make you happierYou may be ready to spend more money, but will it bring you joy? Researcher Elizabeth Dunn details five happy spending strategies. | |
Vaccines work against Covid ” but not enough people are getting the shots, U.S. doctor saysThe more the virus spreads, the greater the risk of new Covid variants that can evade current vaccine protection, says Vanderbilt professor William Schaffner. | |
The Covid delta variant has ‘exploded’ in the UK ” and it could be a blueprint for the U.S.From vaccines to variants, the U.K.’s experience of Covid-19 has often been a harbinger of things to come for other countries. | |
‘F9’ has highest opening weekend of the pandemic with $70 million box office haul“F9” tallied $70 million in box office receipts during its opening weekend, the most of any movie released in the wake of the coronavirus pandemic. | |
5 things to know before the stock market opens MondayU.S stock futures were mixed after the S&P 500 closed at another record high Friday. | |
Moody’s says these Indian infrastructure firms are better positioned to withstand Covid disruptionsIndia suffered a devastating second wave when reported coronavirus cases jumped sharply between February and early May. | |
Singapore wants to be an e-commerce hub as Asia’s digital economy growsSingapore is working with global internet companies like Google to further transform itself into a leading e-commerce hub in the region. | |
At least 9 dead, 152 unaccounted for in Florida condo tower collapseA fourth day of search and rescue operations is underway after a 12-story condominium building collapsed in Florida. | |
Engineer found major structural damage to Florida condo tower nearly three years before collapse“Failure to replace the waterproofing in the near future will cause the extent of the concrete deterioration to expand exponentially,” the report said. | |
NBA wants a mid-season tournament, but it needs more incentivesThe NBA continues to explore concepts for a mid-season tournament including ways to incentivize its clubs and players. | |
Here are 8 easy ways to save money by going greenAmericans can take simple measures to reduce their greenhouse-gas emissions and fight climate change ” all while padding their wallets. | |
Johnson & Johnson confirms opioid business has ended in $230 million settlement with New YorkJohnson & Johnson has agreed to halt sales of opioids nationwide in a $230 million settlement with New York state. | |
Peter Schiff: Political Hypocrisy Provides Cover For Fed On InflationPeter Schiff: Political Hypocrisy Provides Cover For Fed On Inflation Via SchiffGold.com, From 2016 to 2020, Republicans were constantly trying to play up the economy. You’ll recall Donald Trump claiming it was the greatest economy in history. Meanwhile, Democrats were trying to play it down. Now, the roles have reversed. Since the Democrats own the economy now, they’re talking about how great the recovery is while Republicans are sounding warnings. As Peter Schiff explained in his podcast, this political hypocrisy is letting the real culprit get away without blame. We saw this political hypocrisy on display during Jerome Powell’s recent testimony before the House Select Committee on COVID-19. The Democrats on the committee took the opportunity to grandstand about how great the economy is doing. As Peter put it, œThey own the economy and they want to pretend that everything is great. Their quest … | |
Record-Breaking Extreme Heat Forced Suspension Of Sunday’s Olympic Track & Field TrialsRecord-Breaking Extreme Heat Forced Suspension Of Sunday’s Olympic Track & Field Trials “It’s crazy. I wasn’t expecting it to be this humid,” a high jump competitor at the US Olympic track and field trials in Eugene, Oregon told the Associated Press over a blistering weekend of record Pacific Northwest temperatures. At about 3pm on Sunday event officials declared the trials postponed for the day as temperatures soared past 105° F, causing at one point an athlete to be removed from the stadium in a wheelchair.Â
“The AP notes that due to the humidity, the temperatures felt closer to 113° F by the mid-afternoon,” The Hill wrote. “Portland has reached 112 degrees, marking the hottest day recorded since 1940.” Spectators were actually asked to evacuate the premises once the call was made to pause events, which later resumed in the evening once the temperature fell. This after Heptathlon competitor Talyah Brooks passed out during a … | |
Futures Stall At All Time High As Focus Turns To Jobs DataFutures Stall At All Time High As Focus Turns To Jobs Data S&P500 futures paused at fresh all time highs in a subdued session as traders eyed central bank support and awaited the June jobs report due Friday. European stocks dipped as new travel restrictions prompted by the Covid-19 Delta strain spurred a re-think of the reflation trade. The dollar and oil posted modest gains. Contracts on the Nasdaq 100 led gains while the S&P 500 fluctuated following the best week for the underlying gauge since February following an agreement on President Joe Biden’s $1.2 trillion infrastructure spending deal (which however may prove to be a total dud) and waning concerns about a sooner-than-expected policy tightening from the Federal Reserve. At 730 a.m. ET, Dow e-minis were down 17 points, or 0.05% S&P 500 e-minis were up 3 points, or 0.08% and Nasdaq futs were up 42.50 ot 0.29% as FAAMG megacaps edged higher in premarket trading despite higher bond yields. Cryptocurrency-exposed stocks climbed in US premarket trading with Bitcoin and other digital currencies spiking overnight, … | |
Top Chinese Nuclear Expert Jumps To His DeathTop Chinese Nuclear Expert Jumps To His Death On June 14, China’s Taishan Nuclear Power Plant near Hong Kong experienced damaged fuel rods that triggered a build-up of radioactive gases. French company Framatome, a part-owner of the plant, requested the US Department of Energy for assistance as an “imminent radiological threat” seemed inevitable. Radioactive gasses were released, and US officials at the time said the situation at the nuclear plant did not “pose a severe safety threat to workers at the plant or Chinese public.” But three days later, Zhang Zhijian, one of China’s top nuclear scientists and the Vice-President of Harbin Engineering University, allegedly committed suicide after jumping off a build.Â
Here’s the video in GIF format in case it’s deleted (viewer discretion). | |
Nissan to create thousands of UK jobs in battery investmentThe carmaker is set to announce a major expansion of battery production in Sunderland. | |
Portugal makes unvaccinated UK people quarantineUK travellers will have to quarantine for 14 days while Germany wants EU to step up restrictions. | |
Greensill auditor under investigation by watchdogSaffery Champness’s work for Sanjeev Gupta’s financial backer is being probed by the FRC. | |
Nirmala Sitharaman announces Rs 1.1 lakh crore loan guarantee scheme for Covid affected sectorsThe interest rate on loans from banks under this scheme would be capped at MLCR plus 2 per cent. | |
Tata Steel, TechM among 6 stocks that may beat the Street in a few weeksAs the ongoing bull run shows no signs of slowing down, analysts say headline index Nifty may soon hit the 16,000 mark. Last week, IT, Metal, BFSI and Auto outshone while FMCG took a breather. Tata Steel, Axis Bank, SBI, ICICI Bank and Hindalco were among major gainers. Technical analysts are bullish on ICICI Bank and Tata Steel for this week as well. Here is a list of six stocks that analysts recommend buying for impressive returns in the next few weeks: | |
Piramal Enterprises to raise up to Rs 1,000 cr via NCDsThe administrative committee of the board has approved the issue of secured, rated, listed, redeemable principal protected, market linked NCDs on private placement basis, Piramal Enterprises said in a regulatory filing. | |
IPO Report: Mister Car Wash ‘inspiring people to shine’ as shares soar 37% in trading debutMister Car Wash shares rose about 37% in their trading debut Friday, marking a strong start for the only pure-play car wash company to hit U.S. public markets. | |
The Ratings Game: Tesla faces ‘black eye moment’ over China recall, says bullish analystTesla will need to implement a software fix on more than 285,000 cars in China. This may be a big test on whether the auto maker can set things right in the key Asian market. | |
: Cryptocurrencies rise despite regulators in Japan and U.K. warning on Binance exchangeCryptocurrencies were up on Monday despite regulators cracking down on the world’s largest cryptocurrency exchange, Binance. |
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