Written by Gary
Restaurant chains have raised hourly wages or offered bonuses to attract workers (SPY -0.1%). The biggest premarket movers: Virgin Galactic, Cheesecake Factory, JPMorgan.
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. | |
The IEAs Climate Warnings Grow Louder, But Is Anyone Listening?Earlier this month the International Energy Agency had yet another dire warning for those concerned about the welfare of the planet. Natural gas demand, the IEA said, was improving faster than earlier expected and this could throw the world off the agencys Roadmap to Net Zero by 2050. The gas demand rebound was the result of the recovery in economic activity, the agency acknowledged as well as noting the strong growth in this demand expected in the near future would be due to natural gas replacing more polluting fossil fuels such as coal | |
Bidens $2.5 Trillion Plan Could Send These 3 EV Stocks SoaringJust days from now, Biden is set to gamble a proposed $2.5 trillion on a new plan, in hopes of bringing Americas foundation into the next generation. It’s coming in the form of the biggest infrastructure project since the highway system was built in the 1970s. But with today’s massive infrastructure bill, most people might be missing the real story. That’s because typical “infrastructure” pieces like roads, highways, and bridges don’t even make up the biggest part of the bill. Instead, billions more are planned to be spent on what will be | |
Natural Gas Prices Still Have Room To RunU.S. natural gas prices have more than doubled since last years pandemic-induced slump. Prices surged in the second quarter of 2021 by 40 percent, registering the largest quarterly rise since the second quarter of 2016. The U.S. benchmark natural gas price at theHenry Hubhas traded above $3.60 per million British thermal units (MMBtu) so far in July. Extreme heat, rising liquefied natural gas (LNG) exports, and lower than usual gas stocks in storage continue to support prices at the start of the third quarter. | |
How COVID-19 Triggered The Mother Of All Oil CrisesThe COVID-19 pandemic certainly wasnt the first historic crash or economic crisis for the oil and gas industry, and it (probably) wont be the last. Four huge historic oil crises come to mind immediately: the 1980s oil glut which followed the gas lines of the 70s, the turmoil of the Gulf War, the 2008 financial crisis, and the ensuing oil glut of the 2010s. The only thing thats consistent about oil markets is their very volatility. Its a boom-and-bust business by nature. And yet, somehow, this time its different. | |
Lebanon On The Brink As Fuel And Electricity Shortages Grip The CountryOn the last day of the month, armed protesters took to the streets of Tripoli. They were outraged by the power outages and the story of a child on life support who died due to the failure of the hospitals backup generator. The protesters fired their guns in the air and threw stones at soldiers until the Lebanese army was deployed to contain the situation. Protesters then stormed the building of the Kadisha Electricity Company, and forced its employees to redirect electricity supplies. Whilst this was happening, the military also had to respond | |
A Contrarian Investors Approach To OPECs Oil SpatAfter seven consecutive weeks of gains, oil prices have gone into reverse gear once again, thanks mainly to a collapse in OPEC+ talks. Oil prices have been reeling ever since OPEC+ talks collapsed on Monday due to major disagreements by its members. Major cracks appeared in the ministerial meeting with the United Arab Emirates continuing to block an agreement because it wants to increase its oil production before demand falls as per WSJ. The market fears that the UAE might “want out of OPEC so it can pump 4M bbl/day and make hay while the sun shines,” | |
From Aerie to Zara, retailers are turning viral TikTok moments into sales goldWhen a Lululemon skort went viral across TikTok earlier this summer, 16-year-old Kylie knew she had to get her hands on it. | |
Rare case shows it’s possible to have two Covid variants at the same time, experts sayIt is possible to be infected with two different strains of the coronavirus at the same time, experts say. | |
Nordstrom buys stake in four apparel brands owned by UK fashion house Asos, in bid for younger shoppersNordstrom President Pete Nordstrom said the collaboration could redefine the way a department store operator works with brands. | |
The world must start preparing for the next pandemic, Singapore’s senior minister says“We don’t have the luxury of waiting for Covid to be over,” said Singapore’s Senior Minister Tharman Shanmugaratnam. | |
‘Black Widow’ snags $80 million from its theatrical debut, $60 million from Disney+“Black Widow” tallied $80 million at the domestic box office during its debut, the most of any film released in the wake of the Covid epidemic. | |
England expected to confirm lockdown lifting despite fears over delta surgeU.K. Prime Minister Boris Johnson is expected to confirm on Monday that the final easing of lockdown rules in England will go ahead of July 19. | |
5 things to know before the stock market opens MondayDow futures dropped, indicating a retreat for the 30-stock average from Friday’s record high close. | |
This could be the next big crypto trend, says Indian digital currency entrepreneurAs the founder of WazirX, India’s most used cryptocurrency exchange, Nischal Shetty has his finger on the pulse of new trends. | |
Spurs’ Becky Hammon looks to her ‘next step’ in pursuit of making more NBA historySpurs assistant coach Becky Hammon spoke to CNBC about being considered for the Trail Blazers’ head coach job and why she’s ready for a more prominent role. | |
Richard Branson reaches space on Virgin Galactic flightSir Richard Branson, after nearly 17 years of Virgin Galactic development, achieved his dream and reached space on Sunday. | |
Retail brands including Rebecca Minkoff begin renting clothes without a subscriptionRebecca Minkoff is now renting items without a monthly commitment. Vince launches the service on Tuesday and Rebecca Taylor will join them later this month. | |
These restaurant chains have raised hourly wages or offered bonuses to attract workersSeveral large restaurant chains have announced higher pay to entice workers to apply and stick around. | |
What McDonald’s minimum wage raise says about fast-food franchise futureMcDonald’s is raising minimum wages at its corporate-owned restaurants. Not all fast food franchisees agree, but some owners say it’s time to think long-term. | |
So Much For The UK To Be Positive About! (Just Don’t Mention The Soccer)So Much For The UK To Be Positive About! (Just Don’t Mention The Soccer) Authored by Bill Blain via MorningPorridge.com, œThat cold black cloud is coming down ¦ The football is finished. Get over it. There is much more positive stuff to follow! The UK has many issues to overcome, but we are a nation generally comfortable with ourselves, secure in our future and full of promise. This is the time to be investing in UK Inc ” not writing us off because England dropped ball in the penalty lottery, again! Â Â Even the weather was crying this morning. A long dark cloud of soaking, wet despondent rain drenched the nation as we, (yes, this Scotsman shares England’s pain), woke up to the truth England got penalties wrong again. Apparently, Saka had never taken a penalty except in training! Turquoise proved an unwise colour choice for either Rashford or Sancho’s boots. Whateve … | |
Didi Warns Of “Negative Impact” From CCP Crackdown As Tencent Targeted For New ViolationsDidi Warns Of “Negative Impact” From CCP Crackdown As Tencent Targeted For New Violations Another day has arrived, and more reports about Beijing’s retribution against Didi Chuxing, the ride-hailing service whose shares are poised to move even lower on Monday, as western media outlets recycle a report from last week about China shutting down 25 other Didi-owned apps for “the problem” of collecting personal information in violation of Chinese data security laws. A similar headline hit late last week, but that was before Beijing on Saturday introduced a new law that would require all Chinese firms headed for an IPO to undergo a cybersecurity review. But this time around, Didi itself warned of a “negative impact” after complying with the CCP’s order to remove the apps. The latest moves against Didi mark “an escalation in a broader campaign to curb the growing power of internet titans” according to Bloomberg.
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Futures Drift From Record Ahead Of Powell, Inflation And EarningsFutures Drift From Record Ahead Of Powell, Inflation And Earnings After hitting an all time high of 4,365 at the close on Friday, U.S. futures drifted lower to start the week as investors awaited the start of Q2 earnings season starting this week in order to gauge whether corporate profitability can support equity valuations. Treasury yields dropped, as an upsurge in new infections caused by the Delta coronavirus variant pushed some investors into the safety of bonds and capped commodity price gains on Monday. At 715am emini S&P futures were down 7.5pts or -0.17% to 4,352 , Dow Jones futures were down 150pts or down 0.42% and Nasdaq futures were up 30 pts or +0.20%. Markets were jittery at the start of an eventful week that will see the U.S. second-quarter earnings season kick off, the release of inflation data in several countries, and testimony by Federal Reserve Chair Jerome Powell which will be scrutinized for any talk of tapering. Here are some of the biggest U.S. movers today: Didi (DIDI) shares fall 4.4% in premarket trading, following last week’s 22 … | |
ByteDance Shelved New York IPO Plans Months Ago After Stern Warning From CCPByteDance Shelved New York IPO Plans Months Ago After Stern Warning From CCP Last week, CNBC was among the first to report that ByteDance, owner of social-media darling TikTok, had decided to switch the venue of its planned IPO from New York to Hong Kong. The decision would likely result in a lower valuation, but ByteDance’s management had made peace with that fact, since the CCP had made clear that it didn’t want the tech giant – which handles reams of Chinese user data, which the CCP now considers a national security risk – listing abroad. On Monday morning, WSJ followed that up with a report confirming that ByteDance had actually made up its mind long before the disastrous IPO of Didi Chuxing, the Chinese ride-hailing app which has seen its shares lose nearly half of their value from a post-IPO high. The c … | |
Daily Mail: Rothermere family considers bid to take news group privateThe family, which owns 28% of the group, is looking to buy the rest of the news organisation. | |
Almost half of staff care less about their careers since CovidMore of us worry about work-related burnout since the start of the pandemic, a study by Aviva shows. | |
CBI employers group calls for early end to self-isolation rulesThe CBI says it would ease staff shortages and help make the economic reopening “confident” rather than “anxious”. | |
Damani flagship D’Mart doubled profit in Q1. Should you buy or sell?The D’Mart operator’s numbers showed the impact of a strong second wave of Covid, as the hit from the lockdown was greater compared with last year. | |
Gautam Adani clarifies on confusion over Mauritius fundsCalling reports of freeze “reckless and irresponsible”, he said it caused unexpected fluctuations in the market prices of Adani stocks. “Unfortunately, some of our small investors were affected by this twisted narrative which seemed to imply that companies have regulatory powers over their shareholders and that companies can compel disclosure,” he said. | |
Campus Shoes to launch $300 mn IPO next year, hires bankersAbout 4 bankers ” Kotak Mahindra, JM Financial, Bank of America Merrill Lynch and CLSA have been hired to run the IPO process. DRHP will be filed by October this month. | |
Metals Stocks: Gold retreats, struggles to retain perch at $1,800 as dollar perks upGold futures on Monday trade under pressure, weighed by a perkier dollar and U.S. equities that are holding at or near record-high levels. | |
IPO Report: Dole IPO: 5 things to know about the fruit and vegetable giant before it goes publicDole is one of the biggest producers of bananas and pineapples in the world. | |
Earnings Watch: Corporate profits are hitting record highs, but earnings expectations may still be too lowExpectations for the corporate earnings reporting season that kicks off in the week ahead have already increased by a record amount, but it still might not be enough. |
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