Written by Gary
Russia Is Struggling To Boost Oil Production (SPY +0.1%). Stocks making the biggest moves midday: Moderna, Morgan Stanley, GE.
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.|
Oil reversed earlier losses to rise on Tuesday morning after OPEC+ expressed optimism that the market looks significantly improved, while major importer India called on the group once again to ease the cuts and stop the price rally, which threatens demand recovery from price-sensitive buyers. As of 9:36 a.m. on Tuesday, WTI Crude prices were up by 0.77 percent at $73.47 and Brent Crude was up 0.70 percent trading at $75.17. The market reacted today to the bullish outlook from OPEC+, which began its meetings this week with a review
The failure of the new U.S. Biden Administration to respond with resolve and dexterity to the first Russian tests of it in March-April 2021 guaranteed an escalation of maneuvering between Russia and the U.S. and its allies until equilibrium could be established. That escalation came to a head off the Crimean coast on June 23, 2021. In the meantime, all thought of attempting to keep Russia strategically out of a tight cooperative strategic alliance with the Peoples Republic of China (PRC) now seems to have been abandoned by
Indian fuel demand is beginning to improve as states begin to ease their lockdowns and refineries begin to raise run rates, Argus has reported. The report cites India’s oil minister Dharmendra Pradhan as saying economic activity has also been on the mend over the past three weeks, contributing to the fuel demand increase. “We are confident that by the end of 2021, the fuel demand will recover to pre-pandemic levels,” the official said, as quoted by FXStreet. Refinery run rates at state-controlled companies have risen by between three and 10 percentage
Rising prices at the pump will not be the biggest problem for some drivers this holiday weekend. Their biggest problem will be empty pumps – the result of a shortage of tanker truck drivers. GasBuddy’s Patrick De Hann tweeted yesterday there were no issues with the production of fuels, but the shortage of tanker truck drivers was compromising supply in some parts of the United States. The shortage is a national problem that emerged before the pandemic, but the pandemic made an already bad situation worse by shutting down tanker truck driving schools.
Russia is having trouble reversing an oil production decline it implemented under its agreement with OPEC+, Reuters writes, citing unnamed sources. According to these sources, Russia has been producing some 10.42 million bpd of crude oil and condensates since the start of the month, which is lower than Mays average of 10.45 million bpd. The reason for the decline could be related to difficulties with boosting production at older fields, other sources, also unnamed, told Reuters. There was talk about such difficulties as early as last year
OPEC+ says that the overall conditions in the oil market have significantly improved in recent months. The group was optimistic as this weeks meetings began, with a decision on whether they will ease the production cuts further expected on July 1. The overall brighter picture in relation to the pandemic recovery efforts has led to significantly improved oil market conditions and prospects for future growth, OPEC Secretary-General Mohammad Barkindo said at the meeting of the Joint Technical Committee (JTC) on Tuesday.
Brooks Running Company makes the climate pledges as it announces the launch of its first carbon neutral shoe.
These are the stocks posting the largest moves in midday trading.
Berlin-based travel site GetYourGuide has entered the U.S. market along with the ability to use dogecoin for payments.
Elon Musk said SpaceX’s satellite internet network Starlink “recently” passed near 70,000 active users.
Here are some steps you can take to ensure your finances are in order in an emergency.
Eli Lilly CEO says drugmaker will keep looking for ways to cut insulin costs as Walmart debuts lower-price rival
Insulin has become a focal point in lawmakers’ debate over the soaring price of drugs that many Americans rely on.
“This allowed us to have some passive income and also have marketing for the dinner service,” Kindred partner Moshe Schulman told CNBC.
The deal is a global partnership and will provide Crypto.com a brand presence in Formula 1’s Sprint series.
Southwest is asking staff to pick up shifts in exchange for additional pay in early July to avoid flight disruptions during a busy holiday weekend.
Dan and Tanya Snyder purchased complete control of the NFL team after buying out minority owners for more than $800 million.
Moderna shares rise after it says Covid vaccine shows promise in a lab setting against variants, including delta
Moderna’s results, while promising, may not reflect how the vaccines actually perform in real-world scenarios against the delta and other Covid variants.
H&M and Levi’s are at risk of facing heightened supply chain disruptions, as regions of Southern Asia brace for another lockdown, according to a new report.
United plans to hire 25,000 people by 2026 to support a massive jetliner order.
Several Observations Ahead Of Didi’s Massive IPO Tonight
With the Didi Chuxing US IPO set to price tonight at the top of its $13-$14 share range (the IPO was covered multiple times early on the first day of the bookbuild last week and the investor books were closed on Monday, one day ahead of schedule), below we present two observations ahead of what will be the biggest US share sale by a Chinese company since Alibaba raised $25 billion in 2014 in what is already a year of record IPOs.
The first, and more downbeat one, comes from Bloomberg’s Julia Fioretti who notes that despite a record year for global initial public offerings, companies are still finding their valuation targets being adjusted downwards by investors.
Warnings From Behind The Curtain
Authored by Lance Roberts via RealInvestmentAdvice.com,
œWarnings From Behind The Curtain Â almost sounds like the title of a goodÂ œCold War Â fiction novel. However, this time, the story is of warnings for investors not often discussed by the mainstream media.
Notably, there is a necessary clarification that must get made.Â Warnings have different degrees of outcomes.
For example, a warning label that saysÂ œonly wash in cold water Â has an outcome that results in a shirt that will now only fit a toddler. Conversely, the warning label on a hairdryer explicitly states,Â œdo not use while taking a shower. Â The consequence of ignoring such a warning is costly.Â
The same applies to warnings in the stock market for investors. AÂ œwarning Â when stocks are not extremely overvalued, excessively bullish, or extended is not as critical as when they are. Therefore, the first thing we need to understand is how important are the warnings we are seeing?
Extended, Excessively Bullish & Over Valued
The advance in the market over the last 12-years is the result of years of monetary accommodation and near-zero interest rates. As such, it is no surprise the deviation of the market from its long-term moving averages is extreme.
Watch: Huge Sandstorm SwallowsÂ Mongolia City
Worldwide weather appears more volatile than ever, or perhaps social media and how news quickly decimates just makes us more aware of these events.Â
“On the afternoon of June 28, strong sandstorms occurred in the Urad Rear Banner and Urad Central Banner of Bayanzhuoer, Inner Mongolia,” tweeted “qingyanjiejie.”Â
The Twitter user said,Â “Hundreds of meters long sand wall swept along with the wind, covering the sky and the sun. The sky was dark yellow and the air was filled with sand.”Â
LA County “Strongly” Recommends Masks For Vaxx’d & Unvaxx’d People Over “Delta” COVID-19 Variant
Authored by Jack Phillips via The Epoch Times,
TheÂ Los AngelesÂ County health agency suggested to residents that they wear masks “regardless of vaccination status “due to the so-called œDelta COVID-19 variant.
The county’s recommendation comes about two weeks after Democrat Gov. Gavin Newsom lifted California’s mask mandate and ended lockdown provisions in the state.
Executives visiting England from amber-list countries will not need to isolate if trip is a big economic benefit.
Make-up business boss Adam Minto spoke as he set out flotation plans that could value the firm at Â£500m.
The US airline announces its largest aircraft order to date, for 270 Boeing and Airbus planes.
Earlier, Sebi had amended the PIT rules to increase the resources and tools available with itself to reduce cases of insider trading in the stock market.
India’s maiden effort in construction and operationalizing 508-km high speed railway corridor connecting Gujarat with Mumbai stands in stark contrast to the clinical precision with which the Chinese have executed their mammoth infra projects.
Inox Wind Energy, a company carved out of GFL Ltd earlier this year, listed on the bourses earlier this month at around Rs. 200 per share but full-fledged trading on the stock started on Friday.
The cover photo and profile paint a different picture from the previous First Couple.
BookWatch: ‘We didn’t use to have children’s books that talk about difficult issues’: Author of picture book on Dr. Fauci discusses COVID’s impact on kids
Kate Messner’s biographical picture book, ‘How a Boy from Brooklyn Became America’s Doctor,’ will be available on June 29.
: ‘I’m going to go broke’: This is how soaring inflation impacts Americans living on Social Security
‘I can’t believe cat litter and food have gone up by $5. How could they even do that? It’s kitty litter and cat food for God’s sake.’
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