Written by Gary
ADP Employment gains slow in June adding only 692,000 private-sector jobs (SPY -0.1%). Under Armour posts more than 2,300 new jobs with minimum hourly to $15.
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. | |
Nigeria Prepares To Reveal New Oil Bill 20 Years In The MakingNigerias Senate is expected to see on Tuesday the presentation of the countrys petroleum industry bill, a new regulation on the oil industry that has taken 20 years to draft. The bill is expected to be presented at the Nigerian Senate today, Reuters reported, quoting the legislations agenda it had seen. The Petroleum Industry Bill (PIB) has been two decades in the making to overhaul the way Nigeria will share its oil resources with international oil companies and aim to attract new investment in oil and gas. The Senate could | |
Pipeline Operators Score Massive Supreme Court VictoryThe U.S. Supreme Court backed on Tuesday a pipeline development consortium in its legal battle with the state of New Jersey over eminent domain for a planned natural gas pipeline between Pennsylvania and New Jersey. The Supreme Court was hearing over the last two months arguments in a landmark lawsuit that could have dramatically changed the fate of pipeline projects if the court had sided with the state of New Jersey. But it did not. New Jersey argued that the PennEast Pipeline Company, a consortium including Enbridge, could not use eminent domain | |
Recon Africa: The Truth About The World’s Most Exciting Oil PlayA daring junior oil and gas explorer has set out to put the African country of Namibiawhich has never produced a single barrel of oil – on the worlds energy map in a wildcat drill campaign that has taken many by surprise. The Namibian government was sitting on a treasure chest of data on the giant Kavango Basin, and it seems like no one knew. When Reconnaissance Energy Africa (TSX.V: RECO, OTCMKTS:RECAF) initially saw the data while searching around Africawhat could be the untapped final frontier of energyit called on | |
Can The U.S. LNG Boom Compete On A Global Scale?The global liquefied natural gas market has recovered from the 2020 pandemic shock to energy demand. As LNG consumption and spot prices surge this year, U.S. exports of LNG are booming. In the short term, American LNG exports are set for records this year, benefiting from the highest summer spot prices in Asia in at least six years and Europes very low natural gas inventories. Those have prompted Europe to restock with natural gas following a harsh winter that drained inventories when a cold snap in April caused unusual additional | |
Emerging Markets Are Missing Out On The ESG BoomEmerging markets are considered to be among the most vulnerable to climate change. A 2018 study published in the Geophysical Research Letters says the results are a stark example of the inequalities that come with global warming, with the richest countries that produce the most emissions being the least affected when average temperatures climb 2 degrees Celsius [3.6 degrees Fahrenheit] while poorer nations bear the brunt of changing local climates and the consequences that come with them. Its, therefore, quite unfortunate that the countries | |
Could East Africa Become The Next Major Oil Hotspot?The last 18 months have seen very few large-scale oil projects moving from a prospect status into an entire regions next best thing. The Lake Albert project in Uganda is a rare exception for a year that has seen more oil-doomsaying than new FIDs, however judging by the steady stream of news coming in from the project operator, the French TotalEnergies (formerly known as Total), it is indeed happening. Ugandas first crude project intended and designed to be marketed globally, in fact, its first hydrocarbon project ever, Lake Albert | |
5 things to know before the stock market opens WednesdayU.S. stock futures were flat Wednesday, one day after the S&P 500 and Nasdaq eked out record high closes, again. | |
Bed Bath & Beyond earnings take a hit from turnaround costs, but retailer raises 2021 sales forecastBed Bath & Beyond on Wednesday reported mixed fiscal first-quarter results, as sales topped analysts’ estimates, but profits missed. | |
Putin reveals he had the Sputnik Covid shot as Russia struggles with its vaccine uptakeRussian President Vladimir Putin has said he received the Sputnik V coronavirus vaccine as the Kremlin struggles to convince a skeptical public to get a shot. | |
Parents are preparing to pay more this back-to-school season as inflation hits wallets, KPMG survey findsAmong the KPMG survey respondents who said they planned to spend more on their kids, 39% believe sticker prices are going up, with inflation on the rise. | |
How to spend a month abroad without missing workNew companies are designing international workcations for remote workers who want to live and work abroad without the long-term commitment. | |
Europe wants to stop the Covid delta variant. But experts say it may already be too lateThe coronavirus delta variant first discovered in India has now spread around the world, prompting further waves of infections in countries like the U.K. | |
HSBC says Asia faces ‘bumpy road’ ahead as Covid cases remain high, but vaccine rollouts offer hopeExperts say that the coronavirus mutation known as delta variant is partly responsible for the surge in new cases seen in many parts of the world. | |
Serena Williams out after suffering ankle injury during first-round matchSerena Williams’ bid for a record-equaling 24th Grand Slam singles crown ended in tears at Wimbledon as an ankle injury forced her out of her first-round match. | |
Royal Caribbean says unvaccinated travelers on Florida cruises must have travel insuranceRoyal Caribbean International said Tuesday that all guests over the age of 16 traveling from U.S. ports, except those in Florida, must be fully vaccinated. | |
Detroit automakers lift mask mandates for fully vaccinated workersLeaders of Detroit automakers and the UAW union have agreed to make face masks optional for employees who are fully vaccinated against Covid-19. | |
Retailers face the challenge of last-mile delivery as online shopping growsConsumers are flocking to online shopping as they seek to avoid crowds due to Covid-19, but getting the goods into the hands of the buyer can be challenging. | |
Shopify president says small business will lead the pandemic recovery in citiesSmall business is emerging as a key driver in the U.S. economic rebound, Shopify President Harley Finkelstein told CNBC Tuesday. | |
CEO of payroll provider Paychex sees hiring rates picking up in SeptemberPaychex CEO Marty Mucci said multiple challenges are weighing on the job market and he expects many more people will be seeking jobs later this year. | |
Oil Jumps Ahead Of OPEC+ On Speculation Oil Supply Deal May Be ExtendedOil Jumps Ahead Of OPEC+ On Speculation Oil Supply Deal May Be Extended Brent jumped back over $75 this morning – cementing a stellar first half for oil which saw oil prices rise by 50% for its best half since 2009 – pushed higher by a Reuters report that OPEC+ is expected to discuss the extension of the oil supply deal beyond April 2022 following earlier reports that some minsters are concerned about an oversupplied market in 2022. The jump reversed however following unconfirmed reports that ahead of tomorrow’s OPEC+ meeting, Russia had expressed its favor for an increase in OPEC+ oil production starting form August, with an increase between 500k-1mln BPD suggested. As OPEC journalist Reza Zandi added, some members disagree with such suggestions out of the fear that COVID might surge again.
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ADP Employment Gains Slow In JuneADP Employment Gains Slow In June ADP reported the addition of 692k jobs in June (better than the expected 600k but a slow down from May’s 886k addition)… Source: Bloomberg May was revised lower 92k to 886k from 978k as reported last month. Information and management services firms saw employment shrink. œThe labor market recovery remains robust, with June closing out a strong second quarter of jobs growth, said Nela Richardson, chief economist, ADP … | |
Shaky Futures Close Out Second Best First Half Since 1998Shaky Futures Close Out Second Best First Half Since 1998 US stock index futures treaded water after rebounding from session lows on the last day of the quarter, one day after the S&P 500 and the Nasdaq closed at record levels, as rising renewed lockdown risks from the delta coronavirus strain overshadowed confidence in the global economic recovery. The S&P 500 has climbed about 14.3% in the first half of the year and is set for its second best first-half performance since 1998… … with energy, financials, real estate and communication services stocks notching the best performance at the sectoral level. The S&P growth index which houses mega-cap FAAMG names has jumped nearly 11.9% this quarter, outperforming its value peer and narrowing the gap for the year-to-date performance. At 715 a.m. ET, Dow e-minis were down 54 points, or 0.16%, S&P 500 e-minis were down 1.5 points, or 0.04%, and Nasdaq 100 e-minis were down 16.75 points, or 0.12%. | |
“Panic Porn Dressed Up As Science” – Exposing The Truth About The Delta Variant“Panic Porn Dressed Up As Science” – Exposing The Truth About The Delta Variant Equity futures are in the red Wednesday morning as Dr. Anthony Fauci’s warnings about the supposedly “dire threat” posed by the Delta variant continue to be dramatically amplified by the American media. Yesterday, we delved into the issue of the Delta variant as daily COVID cases reported in the US ticked higher after touching their lowest levels since the start of the pandemic. The data set off another round of warnings about the relatively large swath of Americans who refuse to get the vaccine. On Wednesday, Bloomberg published the latest in a series of stories effectively re-stating the same facts: the vaccination rate in a han … | |
Checkatrade boss warns of shortage of skilled trade workersRichard Harpin says it should be made easier for EU bathroom fitters and kitchen installers to come to the UK. | |
Dixons says pandemic has led to permanent shift in use of techAlex Baldock says the pandemic and working from home opened people’s eyes to the value of tech. | |
Name all firms receiving furlough cash, say MPsThe call from an influential committee of MPs comes amid fears of fraud and error in Covid schemes. | |
A Jaipur-based company that benefits from govt’s smart meter planThe Cabinet’s package for the power sector included a plan to install 25 crore smart meters across the country over the next few years, according to media reports. | |
Market rally may pause now, says HSBC. 14 stocks brokerage is bullish on“Although broader appeal for India and the bull market context still rises above near-term challenges, a prospective pause and some consolidation in the near term can’t be ruled out as many uncertainties converge,” said HSBC. | |
Exited an IPO after listing gains? Here’s why your move may be outright wrongWhile an IPO is often seen as a chance to buy a stock cheap before its intrinsic value gets a lift from the forces of the secondary market, more often than not, most retail investors participate in an IPO anticipating strong listing gains. | |
: Under Armour posts more than 2,300 new jobs and hikes minimum hourly pay 50% to $15Under Armour raised its full-year forecast to a profit rather than a loss in its most recent earnings report. | |
: U.S. falls further behind China and Europe in making electric vehiclesThe U.S. has fallen further behind China and Europe in making electric cars, a nonprofit has found. | |
IPO Report: Krispy Kreme IPO: 5 things to know about the doughnut maker before it goes publicThis is the second time Krispy Kreme will be a publicly traded company, after it was taken private by JAB Holdings in a $1.35 billion deal. |
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