Written by Gary
Futures are back at all-time highs, Nasdaq 100 futs above 15,000 for the first time ever (SPY +0.5%). The biggest premarket movers: Skechers, Boston Beer, Snap, Twitter.
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. | |
U.S. Shale Sees Light At The End Of The TunnelThe U.S. oil and gas sector is recovering from last years market slump. But unlike the previous boom-and-bust cycles, the industry has held off on boosting production and has focused on strengthening balance sheets, repaying loans, and rewarding shareholders. As a result of the rallying commodity prices this year, and most of all, the discipline in capital spending, the U.S. shale patch is now financially stronger. Bankruptcies have been fewer and far apart in recent months, and the energy loan default rate has dropped to the lowest level | |
The World Will Run Out Of EV Batteries By 2025In many ways, the world is not ready for the EV revolution. While electric vehicles are an absolutely invaluable and essential component of the clean energy revolution and combating climate change and imperative which grows more urgent with each passing second, the world has been unable (or, in some cases, unwilling) to keep up with the necessary infrastructure installations and investments to prepare for the kind of wide-scale adoption which is both necessary and imminent. For one thing, even in some of the most developed countries in the | |
PDVSA Snubs Crude Sanctions With Condensate ImportsPDVSA is offloading more than a half a million barrels per day of condensate that it has imported in order to blend with its extra heavy crude oil, according to PDVSA documents that Reuters has seen. The condensatewhich Venezuela needs in order to move its heavy crude oilarrived on Wednesday. But importing condensate and exporting the resulting upgraded crude oil are currently sanctionable actions by the United States. Panamanian-flagged Rene is the vessel that brought the condensate cargo in, operated by shipping firm Issa Shipping | |
VC Firms Are Pouring Billions Of Dollars Into Green TechESG investing: it’s in every media outlet and on every bank’s business plan. A rush to what many call alignment of values with investment goals has led to a flourishing new industry with funds popping up like mushrooms after the rain. Green-tech startups are the new dotcoms, it seems, and the danger of a bubble seems distantfor now. Interestingly enough, things were very different just a few years ago, as the Wall Street Journal’s Scott Patterson noted in a recent article. The past decade, he wrote, saw a pullout of investors from the green | |
Futures Exchanges Gear Up For EV BoomThe CMEs Comex and London Metal Exchange (LME) are squaring up for the industrial revolution that is electrification, according to recent posts by Bloomberg and the Financial Times. Both exchanges are busy developing and, more importantly, marketing products that cater to industrys need to hedge exposure to forward prices for key battery ingredients. Whether for car batteries, electronic goods or power grid storage, the key metals are demanded by a common technology: lithium-ion batteries. Futures exchanges launch lithium hydroxide | |
Iran Inaugurates Oil Export Terminal To Bypass Strait Of HormuzIran’s outgoing President Hassan Rouhani officially opened on Thursday the country’s new oil export terminal built to allow the Islamic Republic to ship crude oil without the need for tankers traveling through the world’s most strategic oil chokepoint, the Strait of Hormuz. The Jask Oil Terminal is on the Sea of Oman outside the narrow Strait of Hormuz, which has been the theater of frequent skirmishes between Iran and western powers, including the United States, in recent years. “This is a strategic move and an important step for Iran. It will | |
Farming and solar power set to combine in Netherlands-based pilot projectÂThe pilot project, known as Symbizon, is slated to last four years. | |
Stocks making the biggest moves premarket: Skechers, Boston Beer, Snap, Twitter & moreThese are the stocks posting the largest moves before the bell. | |
Boston Beer stock tumbles 21% after weak Truly hard seltzer sales weigh on earningsShares of Boston Beer tumbled 21% in premarket trading after disappointing demand for hard seltzer dragged down the company’s quarterly earnings and revenue. | |
After being ravaged by the delta Covid variant, how is India doing now?What’s the pandemic picture like in India, where the delta variant first emerged? | |
These companies are sucking carbon out of the atmosphere ” and investors are piling inCarbon capture is becoming increasingly popular among investors, and these companies are at the forefront. | |
5 things to know before the stock market opens FridayDow futures rose Friday, in what could be the fourth straight positive session after Monday’s plunge. | |
Hours before the Tokyo Olympics opening ceremony, IOC says all possible safety measures have been takenThe International Olympic Committee says organizers have done all they can to ensure a safe games as the coronavirus pandemic rages on. | |
Singapore retailers are reeling from further Covid measures as sales drop 70% for someSingapore retailers have seen sales plunge between 30% to 70% since the start of Covid-19, says the executive director of the Singapore Retailers Association. | |
Nightclubs are a new battleground against Covid, but the young yearn for freedomThe night time economy is re-opening just as coronavirus cases soar, particularly among the young. | |
Everything you always wanted to know about yachting, but were too afraid to askCNBC spoke with several yacht owners who agreed to answer all questions ” with no topics off limits. | |
‘I think people are underestimating how bad this is going to get’: Dr. Ashish Jha on the delta variantDr. Ashish Jha explains why he thinks people are underestimating how bad the Covid surge is going to get as a result of the delta variant. | |
This under-the-radar retail winner up 260% in 12 months could have more upside, trader saysOne footwear retailer keeps on kicking this year. Gina Sanchez of Lido Advisors and Bill Baruch of Blue Line Capital share what’s next. | |
Jim Cramer says near-term Covid delta variant concerns won’t threaten long-term stock market gainsCNBC’s Jim Cramer advised investors to keep a long-term focus in the face of Covid delta variant concerns. | |
“I See The Inflationary Pressure Very Clearly”: Stellantis CEO Says Rising Prices Coming “From Many Different Areas”“I See The Inflationary Pressure Very Clearly”: Stellantis CEO Says Rising Prices Coming “From Many Different Areas” The “transitory” inflation that the Fed is certain of – yet has proclaimed repeatedly to not understand (including former Fed Chair Janet Yellen once calling inflation a “mystery”) seems to be well understood not only by the consumers who are forking over more cash for their everyday products and services, but also to the companies who produce these products. One of those companies is Jeep maker Stellantis. The company’s Chief Executive Officer Carlos Tavares offered a warning this week that the company is under pressure, not only from the ongoing global semiconductor shortage that we have been covering for the last 12 months, but also from “rising raw material prices”, according to Bloomberg. In fact, in a webinar organized by the Detroit-based Automotive Press Association, his exact words were: œI see the inflationary pressure very clearly. I see inflation coming from many different areas. This real-world example of how prices are starting to run amok is referred to as a “disconnect” between the view of some economists who say that price increases aren’t structural, Bloomberg notes. This stands at odds with what Tavares says he is experiencing firsthand at his company. “Transaction prices are rising and lacking supply of components like semiconductors is causing disruptions and cost increases,” Bloomberg notes Tavares as saying. | |
Futures Back At All Time High, Nasdaq 100 Futs Above 15,000 For The First Time EverFutures Back At All Time High, Nasdaq 100 Futs Above 15,000 For The First Time Ever The V-shaped recovery has officially concluded, with eminis hitting 4,383 this morning, touching reaching their all time high from the second week of July (technically that was 4,384) as markets propel higher on earnings optimism despite mixed economic data and worries over Covid variant. At 7:30 a.m. ET, Dow e-minis were up 170 points, or 0.49% and S&P 500 e-minis were up 21.5 points, or 0.49%. Nasdaq 100 e-minis were up 72 points, or 0.48%, trading above 15,000 points for the first time. Nasdaq futures hit a record high on Friday, helped by megacap technology stocks and strong earnings from social media companies Twitter and Snap, with investors eyeing business activity data later in the day. | |
Protests Erupt In Italy After New “Health Passports” RevealedProtests Erupt In Italy After New “Health Passports” Revealed Thousands of people flooded the streets of Turin, a city located in northern Italy, Thursday evening to protest harsh government restrictions for unvaccinated citizens, dubbed the “green pass.” The Italian prime minister, Mario Draghi, told a press conference Thursday that the country will need to act and suppress another wave of COVID-19 infections at a time the Delta variant is spreading throughout Europe.  The green pass — a digit certificate containing proof of immunization will be necessary for anyone older than 12 to enter stadiums, museums, theatres, cinemas, exhibition centers, swimming pools, and gyms. The pass is an extension of the EU’s digital Covid certificate and will also be required for restaurants. The updated version of the vaccine passport will begin on Aug. 5 and didn’t sit well with residents who see their freedoms whittled away by the government. This violation of freedom sparked a massive protest in Turin. “As soon as the Italian government announced the introduction of the “health passport” people took to the streets to protest. The images below are from Torino just now. The feeling in the streets is one of anger at the government’s decision,” the Twitter user said.Â
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White House Plans More Assistance For Troubled Mortgage Borrowers At Risk Of ForeclosureWhite House Plans More Assistance For Troubled Mortgage Borrowers At Risk Of Foreclosure A national foreclosure ban extended by the Biden Administration is set to expire one week from today. And in an effort to prevent a wave of foreclosures that would risk capsizing America’s red-hot housing market, the Administration has devised a new program designed to offer more relief to homeowners who still can’t afford their mortgage payments (typically, because their household income has yet to recover), WSJ reports. Presently, homeowners are allowed to skip monthly payments for up to 18 months with no penalty (on the understanding they make them up later). But for borrowers who opted into the plan early in the pandemic, the relief will expire later this year (while banks will be allowed to resume foreclosures as of July 31). That so many American borrowers need this assistance – which at best will function as a kind of band-aid, since borrowers will still need to make good on their … | |
Rail services face cuts as staff self-isolateOperators say they may have to run fewer trains as more employees are hit by the “pingdemic”. | |
Covid: Food workers given exemption from isolation rulesIceland warns the move will not solve the issue of staff shortages in supermarkets themselves. | |
Firm fined £2.6m for claiming clothes prevent CovidAustralian activewear company Lorna Jane is branded “exploitative” and “predatory” by a judge. | |
JSW Steel Q1 results: Steel maker posts record PAT of Rs 5,904 crore, beats estimates; revenue zooms 145%Analysts had expected the steelmaker to report a consolidated net profit of Rs 4,958 crore on revenues of Rs 28,639 crore. | |
After solid listing, can Zomato do an Amazon in the long term?While many analysts questioned the food aggregator’s valuations at Rs 65,000 crore, the stock breached the market cap of Rs 1,00,000 crore within 10 minutes of trade. A few brokerages had said the IPO was good only for listing gains. The stronger-than-expected response to the stock suggests investors think otherwise. | |
Bull’s Eye! 8 stocks that can give stellar returns in the short termBulls were back at the helm of Dalal Street after three successive days of losses on Thursday. Volatility indicator eased indicating waning nervousness among the traders. Christopher Wood, global head of equities at Jefferies, says “any meaningful correction in India, should be bought into.” Here’s a list of eight stocks picked by Axis Securties, HDFC Securities and CapitalVia Global Research, where you can expect to make good money in the short term. | |
Rail Week Ending 17 July 2021 – Year-over-Year Growth Slowing As It Is Being Compared To The Improving Conditions One Year AgoWritten by Steven Hansen Week 28 of 2021 shows the same week total rail traffic (from the same week one year ago) improved according to the Association of American Railroads (AAR) traffic data. | |
: U.S. airlines’ earnings brightened by uptick in business travelAmerican Airlines Group Inc. and Southwest Airlines Co. on Thursday reported better quarterly results than investors had expected, rounding up earnings season for major U.S. airlines with an uptick in domestic business travel. | |
Therese Poletti’s Tech Tales: This is your final warning ” Chinese stocks listed in the U.S. are dangerous to holdA dark cloud hanging over Chinese stocks listed in the U.S. could lead to a storm that washes away investors’ funds, even those who are invested passively through mutual funds. | |
The Ratings Game: Why chip stocks are falling despite semiconductor shortage, strong early earningsInvestors pumped the brakes on chip stocks Thursday, as fears of a repeat of 2018’s supply glut rose with Texas Instruments Inc. forecasting decelerating sales growth despite a global semiconductor shortage. |
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