Written by Gary
Large-cap energy stocks are poised for sharp short squeeze (SPY +0.8%). US threatens Iran with new sanctions if a nuclear deal is not reached.
The Market in Perspective
Here are the headlines moving the markets. | |
Houston Scrambles To Remain The Energy Capital Of The U.S.The United States shale sector is at a crossroads. Houston, the capital of the nations oil and gas industry, is at the metaphorical and industrial center of a struggle for the countrys unfolding post-covid energy landscape. The writing is on the wall: the renewable revolution is here to stay, and while the sun hasnt set on oil yet, the industry will never see growth the way that it has in the past couple of decades. Oil is still highly relevant in Houston, but that is going to change, whether oil tycoons and Texas politicians | |
JPMorgan: Large Cap Energy Stocks Poised For Sharp Short SqueezeLarge-cap energy stocks are now so disconnected from the oil market fundamentals that they could be up for a sharp short squeeze in the near future, JPMorgan analysts say. There is increasing potential for a sharp short squeeze and move higher, given its extreme disconnect from oil fundamentals, JPMorgan strategists, led by Dubravko Lakos-Bujas, said in a note on Tuesday carried by MarketWatch. Energy, together with consumer retail, travel, and leisure, banks, and semiconductors, are the sectors which JPMorgan considers strong | |
U.S. Threatens Iran With New Sanctions If A Nuclear Deal Is Not ReachedAfter six months of President Biden in office, and repeatedly dashed hopes at a nuclear deal with Iran, failing to come to an agreement means instead of lifting sanctions the U.S. is considering putting restrictions on oil sales between Iran and China. This week, U.S. officials told the Wall Street Journal that new sanctions could go into effect if Iran does not agree to a nuclear deal. The U.S. hopes that by threatening one of Irans most important markets, owing to the current sanctions, it will put pressure on Iran to come to a nuclear | |
China Ramps Up Coal Production To Meet Growing Energy DemandWhile the rest of the world is trying to come to grips with the European Unions proposed carbon border adjustment mechanism (CBAM) which calls for the levying of charges on non-E.U. products in relation to their embedded carbon footprint China, on the other hand, is currently grappling with a slightly different energy-related issue. A massive heatwave in some parts of the country coupled with a shortage of coal because of Chinas spat with chief supplier Australia has sent coal prices soaring. China to ramp up coal | |
Road Fuel Demand Set For Early 2027 PeakHigher electric vehicle (EV) adoption and rising fuel efficiency will bring peak road transportation fuel demand forward to 2027, four years earlier than previously thought, BloombergNEF said in a report on Tuesday. Last year, BloombergNEF was expecting gasoline and diesel demand for passenger vehicles and trucks to peak in 2031. However, this year, BNEF expects steep declines in fuel consumption in Europe and the United States, where more EVs are being sold while conventional vehicles become increasingly efficient. On the other hand, the previously | |
America Looks For A Balance Between Oil Needs And Climate RealityIts an eternal dispute – the need to meet consumer energy needs through oil and gas production versus the battle of climate change activists and green policy. When President Biden came into office in January his stance on green policy was in stark contrast with his predecessor Donald Trump. Biden promises a Green New Deal under which he will pave the way for the banning of oil and gas drilling on public lands, protect a third of Americas land and ocean, introduce a government electric vehicle (EV) fleet, and move away from traditional | |
Bed Bath & Beyond remodeled its New York City flagship store. Here’s a first look insideOn Thursday morning, Bed Bath & Beyond will officially swing open the doors of its newly remodeled flagship location in New York City. | |
Local officials across U.S. are starting to reimpose Covid mask rules as delta variant takes holdLocal officials in at least five U.S. states are now advising all residents to wear masks in public indoor settings ” whether they are vaccinated or not. | |
Used car prices have surged. Here’s how to make that work to your advantageAlthough dealerships aren’t negotiating much on price, there may be ways to capitalize on the current elevated values of used cars. | |
Smoke from Western wildfires is harming air quality on the East CoastSmoke from the Western wildfires was carried by the jet stream and cross-continental wind and triggered health alerts thousands of miles away. | |
Netflix’s foray into video games is ‘ill-advised,’ Wedbush analyst saysWhile subscribers may be excited about the prospect of Netflix adding video games to its subscription, Wedbush’s Michael Pachter calls the move “ill-advised.” | |
Fintech OppFi goes public as CEO looks to alleviate America’s emergency savings droughtShares of OppFi rose in its market debut Wednesday after the company completed its SPAC merger. | |
Maria Taylor leaves ESPN after colleague claims race got her NBA jobESPN announced Wednesday that Maria Taylor’s contract is ending, a decision that comes after the former network host was subject to race-related remarks. | |
Man busted in 2020 Twitter hack, bitcoin scam of Biden, Obama, Musk, Buffett accountsTwitter accounts in the hack included those of Joe Biden, Barack Obama, Jeff Bezos, Bill Gates, Kim Kardashian and Warren Buffett. | |
United Airlines shares rise on upbeat demand forecast despite delta variantUnited Airlines shares rose after the carrier issued an upbeat demand forecast. | |
Charlamagne Tha God and Stephen Colbert to launch late night TV talk show on Comedy CentralCharlamagne Tha God, co-host of morning radio show “The Breakfast Club,” is taking his unique brand of comedy and social commentary to late night TV. | |
NFTs may outlast physical art galleries, says famed British artist Damien Hirst“Anything that looks good and feels good” is art, Damien Hirst told CNBC on Wednesday. “It doesn’t have to be in a gallery.” | |
Musk Sparks Major Crypto Spike, Stock Short-Squeeze ContinuesMusk Sparks Major Crypto Spike, Stock Short-Squeeze Continues The Dow and S&P joined Nasdaq and Small Caps in the green for the week after today’s escalation of the rip off the Monday’s lows… Sparked by another major short squeeze (bigger than the PPT inspired bounce in mid-June)… Source: Bloomberg But we do note that after the initial surge, the squeeze stalled… | |
Senate Republicans Vote To Block Opening Debate On $1.2 Trillion Bipartisan Infrastructure DealSenate Republicans Vote To Block Opening Debate On $1.2 Trillion Bipartisan Infrastructure Deal Update (1558ET): Senate Republicans have voted to block opening debate on the $1.2 trillion bipartisan infrastructure deal favored by the Biden administration, according to Reuters. The Republicans said the deal is not ready for floor action because ‘it’s not finished.’ The 51-49 vote failed to reach the 60-votes required to move forward. More via Axios: Time is running out for the group, made up of five Democratic and five Republican senators, if they want to meet their self-imposed deadline of passing it before August recess. However, many Republicans ” including those involved in the bipartisan talks ” wouldn’t vote for the measure given the bill has yet to be written. Many lawmakers are also waiting for the Congressional Budget Office to analyze the cost, which will take days to complete one the text is finalized. Schumer, recognizing their concerns, tried to placate Republicans by repeatedly insisting that the vote was solely on “the vehicle” for the package ” meant to allow the Senate to begin debating parts of the proposal that both parties have already agreed to. That was enough to get all 50 Democrats ” including key moderates like Sens. Kyrsten Sinema (D-Ariz.) and Joe Manchin (D-W.V.) ” on board. But it wasn’t enough to sway most GOP members in favor. Schumer voted ” … | |
Whitmer Kidnapping Defendants Claim Entrapment After 12 FBI Informants Involved In PlotWhitmer Kidnapping Defendants Claim Entrapment After 12 FBI Informants Involved In Plot At least a dozen FBI informants infiltrated an anti-government group of aspiring extremists, and were involved in virtually every aspect of a plan to kidnap Michigan Gov. Gretchen Whitmer, according to BuzzFeed. “Some of those informants, acting under the direction of the FBI, played a far larger role than has previously been reported,” according to the report.
One ‘informant,’ an Iraq war veteran, “became so deeply enmeshed in a Michigan militant group” that he rose to second-in-command – telling members of the group to meet with other potential suspects, and even footing the bill to transport members to meetings. | |
Watch: Capitol Defendant’s Attorney Says Detainees Are Being Subject To “Torture!” In Contentious CNN InterviewWatch: Capitol Defendant’s Attorney Says Detainees Are Being Subject To “Torture!” In Contentious CNN Interview Authored by Steve Watson via Summit News, An attorney for one of the defendants charged with infiltrating the U.S. Capitol building on January 6th alleged that his client and others are being brutally tortured five miles from the White House � in an awkward interview on CNN Tuesday. Joseph McBride was asked for comments relating to the eight month prison sentence given to Paul Hodgkins for merely walking into the building and sitting at Nancy Pelosi’s desk. McBride, who represents another of the accused told CNN host John Avlon that there are people who showed up to attack the Capitol, there are people who showed up to protest, and there are people who showed up to protest that got involved with the greater events … | |
Opioid crisis: US drug giants reach $26bn settlementFour drug-makers and distributors have agreed to pay the sum to settle thousands of government lawsuits. | |
BP: Lorry driver shortages closing some sites temporarilyThe oil firm says the “vast majority” of shortages were being “resolved within a day”. | |
Fewer flat buyers to face pre-mortgage cladding checks, says Robert JenrickLenders agree to change applications for loans involving buildings below 18m high, the government says. | |
Why investing in passive funds can be a good diversification strategyThe debate over whether investors should use active or passive strategies in their portfolios has traditionally been viewed through the lens of outperformance. In reality, both can co-exist in a portfolio where an investor can follow a blended approach. | |
HUL Q1 preview: Company may see firm sales growth, but input cost inflation likely to dent marginsHindustan Unilever is expected to report a near 15 per cent year-on-year growth in its net sales to Rs 12,105 crore, according to an average of estimates from 11 brokerages polled by ETMarkets.com. | |
As action fades on D-Street, Indian investors pour money in US stocksDomestic equity benchmark indices have gained merely 6 per cent during the June 2021 quarter as the second wave of Covid-19 jittered investors sentiments. | |
: Senate infrastructure test vote fails as Republicans push for more detailsA procedural vote on a $1 trillion infrastructure plan failed on Wednesday in the Senate, as Republicans sought more time to negotiate on the public-works spending proposal. | |
Bond Report: 10-year U.S. Treasury yield jumps as bond rally runs out of steam for nowThe yield on the 10-year Treasury note rises Wednesday, extending a bounce off a five-month low. | |
: FTC votes to rescind merger policy in a possible blow to Big TechThe Federal Trade Commission voted Wednesday to rescind a 1995 statement that loosened merger review reporting requirements, an apparent setback for Big Tech. |
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