Written by Gary
Wall Street futures have risen this morning, one day after the 30-stock average and the SP 500 dipped slightly, and the Nasdaq rose modestly (SPY +0.2%). The biggest premarket movers: Comcast, Merck, Tempur Sealy, Yum.
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. | |
 | Shrinking Global Populations Poses An Existential Threat To OilAbout a week ago, Saudi Energy Minister Prince Abdulaziz bin Salman made waves in the oil community after telling Bloomberg News that Saudi Arabia “…is going to be the last man standing, and every molecule of hydrocarbon will come out.” The comments by bin Salmanheralded as the most powerful man in the global oil and gas industrycame shortly after the latest OPEC+ agreement and mirrored those by Saudi Aramco CEO Amin Nasser, who expressed similar sentiments back in January 2019. And this might not be idle bluster: In late 2019, |
| Oil Majors Are Primed For A Massive Earnings SeasonEarnings season is here with us once again, with a quarter of S&P 500 companies having reported second-quarter 2021 earnings. According to FactSet data, 88% of S&P 500 companies have reported a positive EPS surprise, while 86% have reported a positive revenue surprise. The good news for oil and gas investors: The long-suffering sector is on course for a repeat of a stellar first quarter by posting blowout earnings, again, in large part due to an increase in oil and gas prices. Three-quarters of energy companies that have reported earnings |
| Why Exxon Is Doubling Down On Guyanas Offshore Oil BoomGlobal oil supermajor ExxonMobil is investing heavily in South America seeing it become the driving force behind Guyanas offshore oil boom. The integrated energy company is reporting stunning successes in the offshore 6.6-million-acre Stabroek block where it is the operator and holds a 45% interest with partners Hess and CNOOC owning 30% and 25% respectively. Since 2015, Exxon has made a notable 20 oil discoveries in the Stabroek block, the latest being the June 2021 Longtail-3 discovery, giving the energy supermajor estimated recoverable |
| Why Wont Foreign Investors Back Kazakhstans Renewable Revolution?In May, Kazakhstans president upped the stakes for the countrys renewable energy agenda. The plan is no longer for 10 percent of the countrys power needs to be generated through renewables by 2030. It is 15 percent. I am a supporter, a firm supporter, of the development of clean energy and green technologies in general, Kassym-Jomart Tokayev told officials. I support the construction of power plants using renewable energy sources. These kinds of environmental-minded pledges have come thick |
| Why Norway Wont Give Up On Oil & GasNorway doesnt have any second thoughts about oil exploration and investment in light of the International Energy Agencys (IEA) report suggesting that no new fossil fuel exploration would be needed for a net-zero world. Western Europes biggest oil and gas producer is doubling down on oil development and continues to consider oil exploration and production a critical part of its economy and income for the state. Norway, the country with the highest electric vehicle (EVs) share of new car sales anywhere in the world, |
| Environmentalists Take Aim At UKs North Sea Oil PlanThe High Court has today agreed to hear a case brought by environmental campaigners claiming that the governments plans for the North Sea oil basin are unlawful. Three activists are arguing that the Oil and Gas Authoritys (OGA) new strategy for the continental shelf, which was released earlier this year, conflicts with its legal duty to achieve net-zero emissions by 2050.? Justice Thornton said that the campaigners had presented an arguable case which was in the public interest. The defendants have |
| 5 things to know before the stock market opens ThursdayDow futures rose Thursday, one day after the 30-stock average and the S&P 500 dipped slightly and the Nasdaq rose modestly. |
| Stocks making the biggest moves premarket: Comcast, Merck, Tempur Sealy, Yum and othersThese are the stocks posting the largest moves before the bell. |
| To understand why Texas and Oklahoma want to move to the SEC, follow the moneyIf Texas and OU joined the SEC, the conference could attract higher media fees, given the marketing muscle of the schools in college football and basketball. |
| Yum Brands tops earnings estimates as sales rebound at Taco Bell, KFC and Pizza HutShares of Yum Brands rose more than 2% after the company reported better-than-expected second-quarter earnings and revenues on Thursday. |
| Danny Meyer’s Union Square Hospitality Group to require indoor diners show proof of Covid shotsDanny Meyer’s Union Square Hospitality Group will require indoor diners and drinkers at its restaurants to show they’ve been vaccinated against Covid. |
| ‘Not clear yet’ if booster shots of Covid vaccine are needed, AstraZeneca CEO saysAstraZeneca’s CEO told CNBC the company did not have a “precise answer” on whether a third dose of its Covid-19 vaccine would be needed. |
| Volkswagen posts record first-half earnings and raises profit margin targetVolkswagen posted record first-half earnings on Thursday while also raising its target for profit margin. |
| Here’s how much Olympic athletes earn for winning medalsMany countries offer monetary rewards to their athletes for the number of medals they win at the Olympics. |
| Disney’s domestic theme parks will require all parkgoers to wear masks indoors starting FridayDisney has amended the mask policy at its U.S.-based theme parks in the wake of new guidance from health and government officials. |
| ‘She is wise to listen to her brain and her body’: Simon Biles’s former mental health trainer praises her exitMental health training expert Robert Andrews worked with Simone Biles for four years and explains why he’s lauding her decision to withdraw from individual . |
| Delta variant: The epidemic will sweep across the U.S. at different times, Dr. Scott Gottlieb saysDr. Scott Gottlieb explains why he believes the U.S. could see downslope from delta Covid surges in two to three weeks. |
| Bob Odenkirk in stable condition after suffering a ‘heart-related’ incident on set of ‘Better Call Saul’Actor Bob Odenkirk is in stable condition at a New Mexico hospital after suffering a heart attack while on the set of AMC’s “Better Call Saul.” |
| Wingstop plans ghost kitchens in Manhattan as company leans on digitalWingstop plans to open 25 company-owned locations in Manhattan with about half of the spots dedicated to deliveries, CEO Charlie Morrison said. |
| Michael Pento: First Disinflation, Then Deflation, Then Big-Time InflationMichael Pento: First Disinflation, Then Deflation, Then Big-Time Inflation Suddenly investors are panicked that (hyper)inflation is taking over. But what if they’re mistaken? That could be a costly mistake if they’re betting their portfolio’s future on it. Because there’s a strong case to be made that we’re now actually entering a period of dis-inflation, one that has a high risk of tipping into outright deflation by next year. To argue this, investment manager Michael Pento, who pulls no punches, joins Wealthion for this video explaining why the Fed and Congress don’t currently have sufficient air cover to continue the same magnitude of stimulus the market is now addicted to — and thus won’t be able to resume it until after the next painful market correction arrives. Michael then proceeds to explain why the bond market is such a ticking time bomb right now for investors. And, of course, he shares his views on his favored asset classes for each stage of the upcoming progression he sees:
Watch the full interview below: … |
| The Pointless Drive To Make Masks Great AgainThe Pointless Drive To Make Masks Great Again Authored by Brian McGlinchey via Stark Realities, Just when the forces of rationality had seemingly established a beachhead in the public health domain, they’re back on defense again, as the CDC declares vaccinated and unvaccinated people should wear masks indoors in areas of the country experiencing high transmission, and every schoolchild should be condemned to wear a mask all day long. The moves, which come in response to surging case counts, seem to demonstrate an impulse that animates many questionable government policies: “We have to do something,” regardless of whether that something can be reasonably expected to have a material impact on the problem at hand. |
| Futures Rise, Europe Hits Record Supported By Fed, China, EarningsFutures Rise, Europe Hits Record Supported By Fed, China, Earnings World markets resumed their climb on Thursday after the Fed signaled it was in no rush to taper stimulus and reassurances from Beijing saw beaten-up Chinese stocks soar. U.S. equity-index futures gained slightly recovering earlier losses, except for Nasdaq 100 contracts, after mostly positive earnings, China’s efforts to soothe market nerves and the Federal Reserve’s reassurance that there’s some way to go before curbing stimulus. At 715 am Emini S&P futures were up 3.5 points ot 0.08% to 4,397.50, Dow futures rose 149 points or 0.422% while Nasdaq futures were down 23 points or 0.16%.
œInvestors cheered positive news from both the U.S. and China after the Fed delayed tapering talks and reiterated the transitory effect of inflation while Beijing took reassuring measures to stop the market rout and ease concerns toward big Chinese companies, said Pierre Veyret, technical analyst at ActivTrades. In notable premarket moves, the highlight was the rollercoaster in Didi shares which surged as mu … |
| Sydney Sends In Military To Help Enforce Lockdown Amid Record Jump In COVID CasesSydney Sends In Military To Help Enforce Lockdown Amid Record Jump In COVID Cases Despite being locked down for nearly a month now, Sydney has just reported a record one-day rise in local COVID cases on Thursday as public health authorities warned that the outbreak would likely worsen, inspiring them to once again turn to the Australian military for help. According to Reuters, Sydney, Australia’s most populous city, has struggled to contain an outbreak of the highly infectious Delta variant with another economy-crippling lockdown. Instead, cases have continued to move higher, leading public health authorities to double down on their efforts to protect against a broader outbreak of the delta variant, believed to be far more infectious than other strains.
But that didn’t stop authorities from counting 239 locally transmitted cases in the past 24 hours, the biggest daily increase for Sydney since the pandemic began. We should note … |
| Fewest people on furlough since pandemic beganUnder-25s are coming off furlough twice as fast as all other age brackets, says the Treasury. |
| Drug firm fined for huge price rise that hit NHSAdvanz pushed up the price of thyroid tablet packs more than 10-fold, says the competition watchdog. |
| ‘We lost our life savings in a cryptocurrency scam’A pensioner caught up in an investment saga lost it all, prompting warnings to others. |
| Forget inflation, investors should worry if growth is transientIn India, growth has already undergone several downgrades as the new fiscal year started on a tumultuous note with the vicious return of the virus that most policymakers and investors thought had gone for good. |
| Tech Mahindra Q1 results: Consolidated PAT surges 25% QoQ to Rs 1,353 cr, beats estimates; sales rise 5%The IT services major reported a 4.8 per cent quarter-on-quarter rise in consolidated revenues to Rs 10,198 crore for the reported quarter, which was slightly above analysts’ expectations. |
| Market darling Tencent turns into world’s worst stock bet with $170 billion wipeoutTencent’s shares rebounded by 7.1% on Thursday morning, tracking broader gains in Chinese stocks after Beijing intensified efforts to alleviate concerns about its crackdown on the private education industry. |
| : Uber shares fall after report that SoftBank plans to sell a third of its stakeUber Technologies Inc. shares fell more than 4.5% in extended trading Wednesday after a report that SoftBank Group Corp. is selling about a third of its stake in the company. |
| : ‘We will not return to silence’: Activision Blizzard workers walk out over toxic workplace cultureWorkers at videogame giant Activision Blizzard Inc. walked out Wednesday in protest of the company’s workplace environment, after a lawsuit last week claimed female employees were subject to “constant sexual harassment.” |
| IPO Report: Robinhood prices IPO at bottom of range, valuing trading app at $26.7 billionRobinhood Markets Inc. priced its initial public offering at the bottom of its expected range Wednesday night, which still values the company at more than double its previous $12 billion valuation. |
Biden double-masking, via Reuters/Adobe Stock Ample Reason to …
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