Written by Gary
Gold futures head for 5th straight gain ahead of Fed minutes this afternoon (SPY +0.1%). The biggest premarket movers: Devon Energy, Didi, Sunnova, Whirlpool.
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. | |
 | Oil Pipeline Explosion Kills 3 In IranIranian media report that an explosion that started at a pump house in the countrys southwest tore through oil and gas pipelines, killing three people and injuring four more. Reports continue to develop, but at this time Iranian media have noted that the initial explosion took place at the Cheshmeh Kosh field, which is approximately 300 miles southwest of Tehran, and the pipeline to Ahvaz. Iranian media agencies have published photographs of the corpse of one of the people killed in the ensuing blasts. The Iranian Oil Ministry |
| OPEC Stalemate Could Spark A New Oil Price WarNearly a week of formal and side talks and behind-the-scenes negotiations failed to resolve a dispute over baseline production levels at OPEC+. The discord threw the group in its most serious crisis since March 2020, when the alliances leaders Saudi Arabia and Russia disagreed on oil supply management with global demand crumbling in the pandemic. Now the dispute is between two Arab Gulf allies in OPECthe United Arab Emirates and Saudi Arabiain what analysts see as the UAE looking to step out of the Saudi shadow |
| Is This The Hottest ESG Stock Of 2021?Environmental, social and governance (ESG) investing can be a controversial topic among investors and analysts. Thats because, while a growing number of investors make a conscious decision, whenever possible, to invest in companies committed to helping make the world a better place… Other investors instead focus exclusively on maximizing the returns on their investment without regard to environmental impact. The merits of both of these approaches can be debated for days but every once in a while an investment comes along that appears |
| Baltic States Cut Energy Imports from Russia, BelarusLithuanias electricity transmission system operator Litgrid has said it would slash threefold its electricity imports from Belarus as a step toward abandoning electricity intake from Russia and Belarus by 2025 and joining the European Unions (EU) energy system. Litgrid is reducing the maximum electricity import capacity from 1,250 megawatts (MW) to 400 MW as of September 15, the Interfax news agency reported on Tuesday, citing information that Litgrid had sent to the operators of the so-called BRELL energy grid, which includes Belarus, |
| Why Oil And Gas Stocks Will Continue To Outperform SolarOil prices are soaring and look set to continue their climb after OPEC+ failed to increase production. Meanwhile, solar energy is cheap and appears to be getting cheaper by the day. Despite the contrast between the two, it looks like oil and gas stocks are on course to outperform solar stocks. The solar sectors most widely used benchmark, Invesco Solar Portfolio ETF (NYSEARCA:TAN), has gained 4% over the past week and 12% over the past 30 days. The industry is now focused on making panels more powerful as it continues to squeeze as much |
| Israels Sovereign Wealth Fund Plans Get PostponedIsrael will postpone the establishment of a sovereign wealth fund meant to be filled with tax revenues from natural gas production until next year as this years intake turned out lower than expected, Israeli media report. As daily news outlet Globes notes, this is the second postponement of the sovereign wealth fund. Initially, it was supposed to begin operating in 2018 but its launch was delayed for 2021. Now, its being delayed again as lower gas prices interfere with tax revenue plans. According to the report, the government had |
| 5 things to know before the stock market opens WednesdayU.S. stock futures were flat after the Nasdaq’s record close and the end of the S&P 500’s seven-session win streak. |
| These two stocks could be the best bets as the delta variant impedes global travel, traders sayThe TSA screened more than 10 million travelers over the July Fourth holiday weekend, but a different story is emerging overseas. |
| UFC gets a piece of sports cryptocurrency money with $175 million ‘fight kit’ sponsorshipCryptocurrency platform Crypto.com agreed to terms with Endeavor-owned UFC, adding another sports organization to its sponsorship roster. |
| France is preparing a new law to make Covid vaccinations compulsory for health care workersFrench lawmakers are now preparing a new law that would effectively force health care workers to get their covid shot. |
| Satellite imagery company Planet Labs is going public, backed by Google, BlackRock and Marc BenioffSatellite imagery and data specialist Planet Labs is preparing to go public, merging with a SPAC to list on the NYSE. |
| Covid cases surge while vaccines stagnate in Africa, as experts urge greater global contributionAfrican nations are bracing for what is expected to be the continent’s worst wave of Covid-19 yet, with vaccine supplies continuing to hamper recovery efforts. |
| Health experts are anxious to prevent a ‘catastrophic’ winter flu seasonExperts are warning the public that there could be a very significant flu season this coming winter. |
| Jim Cramer’s three types of stocks to buy if the market sells off“Take your pick [or] do all three, just so long as you approach the sell-off not as a reason to panic but as an opportunity,” the “Mad Money” host said. |
| Pentagon allows Navy football captain to delay service to play in NFLDefense Secretary Lloyd Austin approved a plan that allows former Naval Academy football player Cameron Kinley the opportunity to pursue a career in the NFL. |
| Cramer reviews Nvidia, Moderna, Equifax and other top-performing stocks of the second quarterCNBC’s Jim Cramer on Tuesday looked at some of the best-performing stocks of the second quarter as the latter half of 2021 gets under way. |
| Tilman Fertitta expects consumer spending to stay strong even as Covid stimulus boost fadesLandry’s Chairman and CEO Tilman Fertitta told CNBC on Tuesday that businesses have to keep costs down as consumer spending stays strong. |
| Lotus unveils Emira sports car as ‘last hurrah’ before switch to EVsThe hypercar-inspired Emira will go on sale next spring starting at under $85,141 (72,000 euros). |
| The Backward K And Coming Earnings SurprisesThe Backward K And Coming Earnings Surprises Authored by Michael Lebowitz via RealInvestmentAdvice.com, The broad economic shutdowns and psychological impacts of the pandemic, along with massive doses of fiscal stimulus doled out directly to consumers greatly altered consumer and business spending habits. As we approach the second-quarter earnings season, we are likely to see a good number of surprises, especially on a year-over-year basis. In the second quarter of 2020, some companies were struggling to keep the lights on.  Others were having trouble producing products fast enough to keep up with insatiable demand. As our friend Peter Atwater correctly predicted in early 2020, the pandemic and its recovery would affect the economy in a K-shaped fashion. Essentially, there will be winners and losers. With the pandemic abating and economic and consumer spending habits normalizing, some of those divergences from last year are reversing. Might we say the K is turning into a backward K?
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| Futures Back At All Time Highs Ahead Of FOMC MinutesFutures Back At All Time Highs Ahead Of FOMC Minutes One day after the S&P broke its near-record winning streak of 7 consecutive all time highs, futures resumed their grind higher as world stocks steadied below recent record peaks, while the Nasdaq jumped to a fresh all time high as the continued drop in Treasury yields supported tech-heavy growth stocks, with investors eyeing today’s June FOMC minutes for clues on policy support going forward. At 730 a.m. ET, Dow e-minis were up 21 points, or 0.06%, S&P 500 e-minis were up 8.25 points, or 0.19%, and Nasdaq 100 e-minis were up 89.25 points, or 0.59%. 10Y yields slipped for the seventh straight session, amid concerns about the economic outlook and coronavirus variants, helping Nasdaq futures rise premarket.
In per-market trading, oil giants Exxon, Schlumberger, ConocoPhillips, Marathon Oil, Occidental and Halliburton Co rose between 0.7% and 3.4%, tracking crude prices, which rebounded after Tuesday’s rout. China’s market regulator said it has fined a number of internet companies including Didi Global, Ten … |
| Ever Given Container Ship Set Free After Owners Pay FinesEver Given Container Ship Set Free After Owners Pay Fines The 1300-foot Ever Given container ship is currently underway, traversing the northern section of the Suez Canal, after spending months in the Great Bitter Lake as owners and insurers and Suez Canal Authority (SCA) officials hammered out a compensation deal for the vessel’s canal disruption in late March. We reported Tuesday that owners and insurers and SCA authorities reached a deal after last month’s “agreement in principle” following the container ship’s six-day blockage of the canal. WSJ reports the agreement was signed at SCA’s headquarters in Ismailia early Wednesday, allowing the vessel to continue its journey.Â
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| Haitian President Jovenel Moise Assassinated By Unknown AttackersHaitian President Jovenel Moise Assassinated By Unknown Attackers The interim Prime Minister of Haiti, Claude Joseph, released a statement early Wednesday that reveals the president was assassinated hours ago.
The president of Haiti, Jovenel Moise, was assassinated around 0100 local time when “a group of unidentified individuals, some of whom spoke in Spanish,” attacked his private residence.Â
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| Warnings of staff shortages due to self-isolationBusiness groups say the delay in easing self-isolation rules will hit firms that rely on young workers. |
| Brewdog defies watchdog to reuse banned ad againThe firm’s ad was banned by watchdog for making general health claims not allowed for alcoholic drinks. |
| Wetherspoons warns price of meals to rise if VAT goes upThe pub chain says it will put up the price of meals in its pubs if a VAT cut for hospitality is not extended. |
| Rs 1 trillion money manager says petrol@Rs 105 not all that badWhile there has been an outburst against rising fuel prices among political opposition and consumers, DSP Mutual Fund, which manages more than Rs 1 lakh crore in assets, sees a silver lining. The fund house says this will aid exports. |
| Biggest gainers & losers of the day: Paper, brokerage stocks fly high; Natco Pharma tanks 7%Paper stocks and brokerage stocks have been on a roll today, with multiple counters hitting the buyer circuit. Multiple stocks fell after the stock exchanges sought clarification on them. |
| Price shock has this $29 billion debt manager expecting hawkish RBIœThe market found it very difficult to digest the inflation numbers, and we don’t see commodity prices coming down, especially oil, said Srinivasan, who expects the RBI to first start draining liquidity using reverse repos, followed by a hike in the reverse-repo rate, and eventually a hike the benchmark interest rate after March 2022. |
| : As worries emerge about the delta variant and the J&J shot, health officials ” and, so far, the research ” say the vaccinated are still protectedThe Delta variant is already the most dominant strain of the virus in some U.S. states, and that’s putting some Americans easing back into œnormal life on edge. |
| Metals Stocks: Gold futures head for 5th straight gain ahead of Fed minutesGold futures on Wednesday head for a fifth straight gain, ahead of a release of minutes from the U.S.’s rate-setting Federal Open Market Committee that could provide a fresh catalyst for financial markets. |
| : Spread of delta variant upends governments’ plans for lockdown exitsThe surge of infections due to the delta variant of the coronavirus causing COVID-19, notably among the young and the unvaccinated, is upsetting governments’ plans to ease pandemic restrictions and help their economies recover. |
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