28Jul2021 Pre-Market Commentary: Boeing Posts Surprise Profit As Aircraft Demand Rebounds, DOW Up 15 Points, Nasdaq Up 0.4%, US Dollar Jumps 92.55, Bitcoin Higher 40600, All Eyes On The Fed

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.

The Best Risk-Reward Plays In Oil

Oil prices have been ticking upwards after OPEC+ reached an agreement on Sunday that will see the group start adding 400,000 bpd production each month from August. Goldman Sachs says the agreement is modestly bullish and has forecast that Brent will hit $80 per barrel this summer. Piper Sandler says that whereas the backdrop of tighter monetary policy, the trajectory of the economic recovery, and the sustainability of inflation are likely to create some volatility curveballs, they will not be enough to derail the secular bull market. Meanwhile,

5 Reasons Why The Next Gold Rush Will Happen In Canada

A new gold exploration in Quebec may be starting to ping radar because it keeps on hitting new mineralization and reports say its gone beyond gold. Junior explorer Starr Peak Mining Ltd. (TSX:STE.V; OTC:STRPF) is aiming to pick up where another big gold discovery right next door by Amex Explorationleft off The Amex discovery earned shareholders up to 7,000% returns at its height, and now we think Starr Peak is looking to do something even bigger because its maiden drill hasnt just shown gold Its shown

Refiners Face Huge Long-Term Challenges

The global refining industry has not recovered yet from the impact of the pandemic, but it is already facing longer-term challenges with the energy transition. Over the next decade and a half, global fuel demand will likely decline, leading to an overcapacity in the refining market, lower margins, and lower utilization. The outlook varies across regions. Generally speaking, however, some less efficient refineries will have to close because of downward pressure on profits amid lower demand and unnecessary high global capacity, McKinsey & Company

The Case For Washington To Remove Sanctions On Venezuela

By the 1990s, founding OPEC member Venezuela had become a true petroleum power pumping over two million barrels of crude oil per day. This saw the Latin American country ranked as OPECs third-largest oil producer, behind Saudi Arabia and Iran, and among the top-10 petroleum-producing nations globally. By 1998, the year that Hugo Chavez democratically won the presidency, Venezuela pumped a record average of 3.1 million barrels of crude oil per day. Since then, the now crisis-riven Latin American countrys petroleum output has rapidly

Russia Ramps Up Its Hydrogen Energy Ambitions

Russia is building on its 2020 roadmap for hydrogen production over the next decade, announcing a new working group to coordinate the countrys hydrogen production and exportation projects. With the development of a new working group, by Russian Prime Minister Mikhail Mishustin, to coordinate hydrogen projects, Russia appears to be responding to international energy transition expectations for the coming years. Russia expects national demand to continue to rely heavily on oil and gas, meaning that much of its hydrogen production

Inventory Draws Across The Board Lift Prices

The American Petroleum Institute (API) on Tuesday reported a draw in crude oil inventories of 4.728 million barrels for the week ending July 23, bringing the total 2021 crude draw so far to nearly 54 million barrels, using API data. Analysts had expected a draw of 3.433 million barrels for the week. In the previous week, the API reported a surprise build in oil inventories of806,000 barrels, compared toan expected draw of 4.333 million barrels. The price of a WTI barrel had fallen earlier on Tuesday on renewed fears of the Delta variant

Stocks making the biggest moves premarket: McDonald’s, Boeing, Pfizer, Spotify and more

These are the stocks posting the largest moves before the bell.

Boeing posts surprise profit as aircraft demand rebounds from pandemic slump

Boeing snapped six straight quarters of losses, thanks to a revival in aircraft demand.

McDonald’s earnings beat, driven by new chicken sandwich and promotion with K-pop band BTS

All three of McDonald’s divisions saw same-store sales growth top pre-pandemic levels.

Sleeping at the airport: American Airlines flight attendant, pilot unions complain about lack of hotel rooms

American Airlines pilot and flight attendant unions say the company is failing to provide adequate lodging and transportation when they are on the road.

Pfizer sells $7.8 billion in Covid shots in the second quarter, raises 2021 guidance on vaccine sales

Pfizer on Wednesday raised its 2021 sales forecast for Covid-19 vaccines to $33.5 billion from $26 billion.

Walmart’s latest business: Selling its e-commerce tech to other retailers

Walmart CEO Doug McMillon has been increasingly interested in expanding his company’s profit pools beyond its core retail business.

‘You better be in the right headspace or really bad things are going to happen’: Shannon Miller on Simone Biles’s exit

Former Olympian Shannon Miller explains why Simone Biles’ mental health is so important when it comes to competition.

Delta variant: Third Covid shot may be way around masking, says Dr. Peter Hotez

Dr. Peter Hotez explains why the CDC’s masking guidelines are œabsolutely necessary to battle the delta variant and surging cases.

Low-carbon hydrogen is not cheap and needs support, says major energy organization

Hydrogen has a broad range of applications and can be produced in a number of ways.

5 things to know before the stock market opens Wednesday

U.S. stock futures were flat Wednesday after Wall Street snapped its five session winning streak and a run of record high closes.

Jim Cramer advises investors to stay the course after Tuesday’s decline

“You have to remember that this prism could be temporary … but I suspect the market is in fault-finding mode,” the “Mad Money” host said.

Former President Barack Obama is now a minority owner in NBA’s Africa business

The NBA announced Barack Obama would use his new equity stake in NBA Africa to expand the Obama Foundation.

UPS CEO says U.S. deliveries slowed down last quarter as economy reopened

E-commerce sales continue to boom, but the rate of growth has changed from a year ago when the U.S. was sheltering in place, UPS CEO Carol Tome said on CNBC.

Boeing Surges After Reporting Surprise Profit

Boeing Surges After Reporting Surprise Profit

Boeing surprised Wall Street this morning when it reported an unexpected profit for the second quarter – it first since 2019 – hinting at a potential turnaround after one of the worst financial crises in the planemaker’s century-long history. Boeing shares surged more than 5%.

The company reported revenues of $17 billion, handily beating estimates of $16.54BN, which translated into an adjusted profit of 40 cents which according to the company was driven by “higher commercial volume and lower period costs” while consensus expected a loss of 81c per share.

That wasn’t the only sign of progress in the company’s second-quarter earnings report, released Wednesday. The manufacturer burned through just $705 million during the period, far better than the $2.76 billion outflow that analysts had predicted.

Weber Grills Set To Sizzle IPO Market With $8 Billion Valuation

Weber Grills Set To Sizzle IPO Market With $8 Billion Valuation

Wall Street’s obsession with newly public companies this summer has spilled over into grills. A handful of retailers of outdoor grills and grilling accessories have filed paperwork to go public.Â

The latest to set terms for its IPO is Weber, a top outdoor grilling brand, with an IPO launch slated next week, according to according to Reuters.

The Illinois-based company plans to raise $797 million through an IPO. Weber would command a market valuation of more than $8 billion.Â

The company will list on the New York Stock Exchange under the ticker “WEBR.”

Goldman Sachs, BofA Securities, J.P. Morgan, BMO Capital Markets, Citi, UBS Investment Bank, Wells Fargo Securities, and KeyBanc Capital Markets are the bookrunners on the deal.Â

Weber reported a net income of $73.8 million on revenue of $963.3 million for the six months ended March 31. During the period, revenues jumped 62% year-on-year. The company controls 20% of the US and global outdoor grilling markets.Â

Weber has an extensive product portfolio of charcoal grills, gas grills, smokers, pellet, and electric grills.Â

Futures Rebound As Chinese Rout Fades, All Eyes On The Fed

Futures Rebound As Chinese Rout Fades, All Eyes On The Fed

With the rout in Chinese markets stabilizing after three days of mayhem following speculation that the Chinese “National Team” is set to start propping up the domestic market, on Wednesday stock-index futures rose along with European shares as investors digested a barrage of tech earnings earnings which saw Apple, Microsoft and Apple post $57 billion in combined profit, while Treasuries fell and the dollar was steady with traders reluctant to place large bets ahead of the outcome of the Federal Reserve meeting and Powell’s subsequent press conference at 2 p.m. EDT.

At 730 a.m. ET, S&P 500 e-minis were up 2.25 points, or 0.05% after falling as much as 0.3%, while Dow e-minis were down 54 points, or 0.18%. Contracts on the Nasdaq 100 led gains, rising 39.75 points, or 0.26%, as technology shares jumped in Europe, though Asian equities were weaker amid the market turbulence triggered by China’s regulatory clampdown.

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Fed Meeting Presents Mild Asymmetric Risk of Higher Rates

Fed Meeting Presents Mild Asymmetric Risk of Higher Rates

By Simon Flint, Bloomberg reporter and commentator

There’s an asymmetric risk of U.S rates rising in response to Wednesday’s Fed meeting, given the extremely low current bond yields.

A baseline assumption would be for modest curve steepening if Powell remains dovish. However, it’s hard to identify sources of surprise, given Powell’s clear guidance from his Congressional testimony.

The key elements to look out for are as follows:

Will the Fed punch the clock on taper? This seems unlikely, and consensus probably rightly expects the countdown — as so nicely outlined by Bill Dudley — to start at Jackson Hole and/or the September Fed meeting. That said, there may be a technical briefing from the staff concerning taper at this meeting. This could elicit questions at the press conference, and might harden perceptions that policy normalization is impending — although this sho …

Housing market cools as stamp duty break withdrawn

UK house prices still rose by 10.5% compared with a year ago, Nationwide building society says.

Covid test plan a ‘pointless solution’ says Iceland boss

Supermarket boss says government scheme only fixes half the issue because it excludes store workers.

Cannabis part of the future says tobacco giant

British American Tobacco says its future lies in getting people to switch to nicotine alternatives.

Maruti Suzuki Q1 results: Automaker reports lower-than-expected PAT of Rs 441 cr, margins hit multi-quarter lows

Operating margin in the quarter stood at 4.8 per cent as against 8.6 per cent reported in the previous quarter.

Here’s what’s become of Ethereum co-founder’s $1 bn India Covid crypto donation

Buterin’s gift of 50 trillion Shiba Inu coins — 5% of the memecoin in circulation — spurred a 50% crash in the price. The tokens should eventually amount to $400 million, Nailwal estimated in an interview.

When will the market crash? Just track the das ka bees gang

Tracking the activities of such retail investors through penny stocks can give you a hint of the excesses building up in the markets. Capturing the momentum of retail activity in penny stocks, investment banking firm Elara Capital has come out with its own ‘India Penny Stocks Index’.

Outside the Box: I’m a former chief investment officer, and this is why I don’t see a long-term future for value investing

For at least a decade now, value investors have had a terrible time, and the resurgence of value stocks in the U.S. this year has been pretty mild.

Outside the Box: More employers should mandate COVID-19 vaccines for workers ” for the health of their business

If businesses want to operate reliable in-person workplaces and attract customers, they must embrace the solution that government has so far shied away from.

: GE stock jumps after earnings beat, surprise swing to positive free cash flow

Shares of General Electric Co. rallied Tuesday, after the industrial conglomerate beat profit and revenue expectations and swung to surprise positive cash flow, as aviation remained the biggest problem area with a revenue miss but saw improving fundamentals