Written by Gary
The U.S. celebrates July Fourth as the nation emerges from the devastating Covid pandemic, and the World celebrates the defeat of the invading aliens.
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. | |
 | 3 Stocks To Capitalize On The Rally In Natural GasThe United States has a long-running love affair with natural gas, with fossil fuels acting as the lynchpin in the country’s power generation mix, while nearly half of American homes use the fuel for heating. With the transition from fossil fuels to renewables in full swing in many states, natural gas serves as the bridge that will make the switch smoother and less jarring. Indeed, natural gas and LNG are now being viewed as the bridge in the transition to renewable energy thanks to their more favorable emissions profile, as it generates 30% less |
| Why Oil Prices Wont Hit $100A remarkable oil rally has seen oil prices climb almost 34 percent so far this year. Bullish sentiment is now driving speculation of $100 oil in 2021 as collective confidence of a rebound in global economic activity gains momentum. However, there are plenty of bearish factors that remain in oil markets that analysts would do well not to overlook.Chinese refiners have already started to tap into their reserves, threatening to hurt demand from the worlds largest oil importer. Geopolitically, the possibility of sanctions on Irans oil |
| Saudi Arabia Aims To Dominate The Global Hydrogen MarketWhile Saudi Arabia continues to develop its oil industry, it is not shying away from alternative energy options, with state-owned Aramco now heavily investing in hydrogen technology. Saudi Arabia still leads the world in oil production and exports but following an International Energy Agency (IEA) report earlier this year and recent investor pressure to adopt greener practices and embrace renewable alternatives the country is looking to develop its hydrogen industry. Aramco Chief Technology Officer Ahmad Al Khowaiter explained last week, |
| What Are The Implications Of Russias Renewed Space Ambitions?The ISS was created in 1998 and involved cooperation from Russia, the US, Japan, Canada and those countries that formed the European Space Agency. Since then, 18 countries have sent astronauts to the ISS and it has often been lauded as one of the most impressive attempts at international cooperation. However, in April 2021, Russia announced that it had plans to leave the ISS in 2025 and start work on its own space station. This follows on from the announcement in September 2020 by Roscosmos Russias space agency that it was |
| Could Guyana Replace Venezuela As A Regional Oil Giant?Guyana is continuing to build its reputation as the new oil hub of the Americas, with more oil firms seeking a stake in the countrys oil fields where it seems new discoveries are being made almost every month as exploration activities continue. International oil giants Hess, CNOOC, and ExxonMobil all have a stake in Guyanas Stabroek Block where the firms have made significant discoveries over the last five years. Exxon alone claims to have made 20 discoveries, expected to contain around nine billion barrels of recoverable oil equivalent |
| Record Decline In U.S. Crude Stockpiles Fuels Oil RallySurging U.S. fuel demand amid stagnant domestic crude oil production is drawing down American crude inventories at the quickest pace in nearly 40 years. The record-fast decline in U.S. oil stockpiles has started to reflect in the crude oil futures market, where the American benchmark, WTI Crude, has surged by 50 percent so far this year. The U.S. oil price has also started to narrow the discount at which it trades relative to the international benchmark, Brent Crude. Re-openings in many U.S. states and the start of the summer driving |
| No more masks? PM Boris Johnson to reveal England’s lockdown-lifting planU.K. Prime Minister Boris Johnson is set to detail the final steps in the easing of lockdown rules in England later on Monday. |
| Australia’s Covid recovery plans remain uncertain as it tries to contain the delta variantSeveral major Australian cities were locked down last week, including Sydney. |
| Japan’s vaccination drive is picking up steam. That’s good news for the retail sector, says EYJapan’s vaccination efforts are finally “picking up steam” after a slow start, says EY’s Nobuko Kobayashi. |
| Rest of collapsed Florida condo tower demolished, crews to resume search effortsSearch-and-rescue efforts at the building were temporarily halted on Saturday afternoon for demolition preparation. |
| ‘Take me home’ ” Mark Zuckerberg posts flag-waving, surfboard-riding Independence Day Instagram videoFacebook CEO Mark Zuckerberg posted an Instagram video showing him toting the U.S. flag atop an electric surfboard. “Happy July 4th!,” he wrote. |
| LeBron James PR advisor Mendelsohn said, ‘I’m exhausted. Between Me Too and Black Lives Matter,’ report showsAdam Mendelsohn, advisor to Lakers star LeBron James, told ESPN NBA reporter Rachel Nichols he was exhausted in connection with Black Lives Matter, Me Too. |
| U.S. celebrates July Fourth as nation emerges from devastating Covid pandemicThe White House has encouraged people to come together and watch fireworks displays to mark the country’s “independence” from the coronavirus. |
| Bed Bath and Beyond gets a rare buy rating, but these traders wouldn’t bite“It’s really hard to get excited” about former Reddit favorite Bed Bath and Beyond after a significant year-to-date gain, says Chantico Global CEO Gina Sanchez. |
| Pope Francis undergoes colon surgery in Rome, ‘reacted well,’ Vatican saysPope Francis, who is 84 years old, has a narrowing of his large intestine. He underwent surgery at a Rome hospital. |
| How businesses are getting billions in cash back from government to offset hiring costsMany small businesses can use an IRS tax credit to offset hiring costs and wage increases in the job market. Many entrepreneurs don’t know about it. |
| Miami-Dade preparing for Tropical Storm Elsa amid condo collapse searchElsa weakened to a tropical storm force but continued to plow toward Haiti and the Dominican Republic on Saturday. |
| Search paused at collapsed Florida condo tower as authorities move to demolish building before stormTwo more bodies were found in rubble at the partially collapsed Florida condominium building as search-and-rescue operations continue. |
| Carnival Cruise Line to launch first voyage from U.S. port since last yearThe Carnival Vista is set to sail on Saturday out of Galveston, Texas, marking Carnival Cruise Line’s first U.S. cruise since the pandemic halted operations. |
| Crisis, Crash, CollapseCrisis, Crash, Collapse Authored by Charles Hugh Smith via OfTwoMinds blog, We have a fine-sounding word for running with the herd: momentum. When the herd is running, those who buy what the herd is buying and sell what the herd is selling are trading momentum, which sounds so much more professional and high-brow than the noisy, dusty image of large mammals (and their trading machines) mindlessly running with the herd. We also have a fine-sounding phrase for anticipating where the herd is running: front-running. So when the herd is running into stocks, those who buy stocks just ahead of the herd are front-running the market. When the Federal Reserve announces that it’s going to make billionaires even wealthier with some new financial spew, those betting that stocks will never go down because the Fed has our back are front-running the Fed. There are two remarkable assumptions at the heart of momentum and front-running: The momentum herd and those front-running the herd base their behavior on the assumption that there will always be other rich people who will sell all the shares they want to buy at today’s prices before the run-up to new highs. |
| Watch: Remaining Surfside Condo Building Demolished Ahead Of Tropical StormWatch: Remaining Surfside Condo Building Demolished Ahead Of Tropical Storm Update (Monday 0616 ET): Around 2230 ET Sunday, the remaining portion of the Champlain Towers South condo building in Surfside, FLA., was demolished ahead of Tropical Storm Elsa’s arrival late Monday night into Tuesday.Â
Video: Champlain South Demo Miami-Dade County Mayor Daniella Levine Cava told CNN during a Sunday night press conference that once the area is safe, search and rescue teams will resume. As of Sunday, the death toll sits at 24, according to the mayor. At least 191 people have been accounted for, but 121 remain missing. * * * Ten days after the condo building in Surfside, FLA. collapsed, search-and-rescue efforts have been suspended as officials prepare to demo the rest of the building ahead of |
| ‘Alice In Wonderland’ Stock Market Gain Expectations Now Up To 17.5% Annually‘Alice In Wonderland’ Stock Market Gain Expectations Now Up To 17.5% Annually Authored by Mike Shedlock via MishTalk.com, Investors appear to be growing more and more optimistic about how their portfolios will perform in the years to come. Disappointment is bound to follow…
The image (plus my comment about a bone) and the lead comment are from the WSK article When a 59% Annual Return Just Isn’t Enough Let’s compare investor expectations in the WSJ to John Hussman’s latest expectations starting with some snips from the Journal.
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| The Race Is On: GM Makes Multimillion Dollar Investment In U.S. Lithium ProjectThe Race Is On: GM Makes Multimillion Dollar Investment In U.S. Lithium Project We have been extensively documenting the amount of natural resources that are going to be necessary to make the world-wide shift to EVs that it looks like the globe is on the cusp on. Considering the amount of raw materials necessary, and the way that they are mined, is paramount in trying to visualize the carbon footprint of EVs that use many rare earth minerals in their batteries. And so, as the industry shifts more toward EV, so comes new infrastructure – and that’s exactly what General Motors is planning, according to a new report from Reuters. The major U.S. automaker is now investing in a U.S. lithium project that could become the largest in the country by 2024. It makes GM one of the first automakers to develop its own source of lithium. The company said last week it will be making a “multimillion-dollar investment” and will help develop Controlled Thermal Resources (CTR) Ltd’s Hell’s Kitchen geothermal brine project near California’s Salton Sea. GM Director of Electrification Strategy Tim Grewe said: “This will supply a sizeable amount of our lithium needs.” |
| Morrisons: Bidding war looms for supermarket as rivals circleApollo Global says it is considering a bid, days after the UK supermarket agreed to a £6.3bn takeover. |
| Dropping face mask rules would be gross negligence, says Unite unionPublic transport workers will be at risk of infection if rules are dropped, the Unite union says. |
| Grenfell prompts creation of building safety regulatorThe new watchdog will be able to prosecute rule-breaking developers and take their properties off the market. |
| Sebi gives green signal to Zomato’s over $1 billion IPOThe approval comes after one of the largest shareholders in the company, Info Edge India, decided to cut its offer for sale (OFS) in the IPO to Rs. 375 crore from Rs. 750 crore earlier. |
| Vedanta proposes IPO for Sterlite Power, grey market super-excitedThe company’s plan has made Sterlite Power the latest sensation in the grey market ” the unofficial market for unlisted shares. The company is planning to issue shares worth Rs 2,000 crore, they said. |
| Indian market very expensive; China, Japan much cheaper: NomuraMcCafferty said that at 22.5 times one-year forward earnings, Indian equity markets are expensive relative to peers such as China and Japan in Asia. |
| London Markets: Morrison shares surge as private-equity firms circlePrivate-equity firms are circling U.K. supermarket chain Wm Morrison Supermarkets, driving the stock higher on Monday. |
| The Wall Street Journal: China expands probe of U.S.-listed companies after similar move against DidiThe latest action targets two truck-hailing apps operated by Full Truck Alliance Co. and an online recruiting app owned by Kanzhun Ltd. BZ Both companies went public in the U.S. in June. |
| Europe Markets: Private-equity battle shapes up for number-four U.K. supermarket chainA private-equity battle for a U.K. supermarket chain highlighted an otherwise quiet day in European stocks on Monday, with the key U.S. market shut for a holiday. |
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