09Aug2021 Pre-Market Commentary: Wall Street To Open Lower , DOW Down 105 Points, Nasdaq Up 0.1%, WTI Crude Sinks To 65.83, Silver Down To 23.36, Bitcoin Soars To 45700

Written by Gary

Oil prices fall 4% on rising global Covid cases, continuing slide following worst week since October (SPY -0.1%). The biggest premarket movers: Sanderson Farms, U.S. Foods, Tyson Foods.

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 Most Exciting Mining Play Of 2021? The first Canadian gold rushthe Klondike–went down with picks and shovels and got individual miners some nice nuggets to take home. On the other side of the countrythe mother lode–could become the second gold rush and this time its high-tech, high-grade, and high-volume. A discovery last year in Quebec by Amex Exploration netted early-in investors up to 7,000% returns.But we think this is just the beginning. And this isnt just a gold rush. Gunning for a repeat of the Amex 2020 discovery
	Chinas Commodity Stockpiles Remain A Complete Mystery China has been trying to cool surging commodity prices by releasing inventory from its strategic reserves. The higher prices of oil, coal and metals have raised manufacturing costs, slowed down factory activity growth, and increased inflation in the worlds largest commodity consumer. Every week since April this year, Chinese authorities have announced measures to control the price of many commodities, including energy and metals. With all those auctions and reported releases of crude and coal from Chinas strategic
	Will A Federal Clean Electricity Standard Become Reality? The energy transition has been enjoying center stage in the energy news flow for over a year now, and things are showing no signs of changing anytime soon. Yet, the paths to net-zero that are being discussed are multiplying. The idea of taxing carbon emissions in order to motivate the companies that generate them to clean up their act is one dominant path to net zero. Recently, however, another one has emerged, and some believe it is the better way to deal with emissions. Congress Democrats have so far introduced two bills that focus on what is
	Something Interesting Is Happening In Copper Markets There is a sizeable arbitrage window between COMEX and the LME copper price, prices that would normally move in relative harmony. The underlying cause, Reuters suggests, is imbalanced inventory. In this respect, copper is similar to more extreme positions for aluminum and zinc. The U.S. is short of physical inventory relative to the LME. Even LME inventory is skewed to Asian rather than European warehouses, as we reported last week when looking at the aluminum market. Realization of that squeeze is what was probably behind a sharp reduction in
	Will Extensive Vaccination Programs Help GCC Nations Return To Normal? With schools, businesses and borders re-opening across much of the region, several GCC countries are beginning to resume pre-pandemic levels of activity. Does this mark the start of a return to business as usual? Vaccination benefits Many GCC countries have begun to see the fruits of extensive national vaccination programs. Saudi Arabia, for example a country of around 34.8m people launched a mass vaccination program in December 2020. More than 27m doses had been administered by August 2021, with 8.25m people having received two
	High Service Costs: The Reality Of Owning An EV Days ago we pointed out a report that dove into the unique risks of placing lithium ion batteries all over the world (including in electric vehicles). And just over the last two months, we’ve written not only about how much driving needs to be done in EVs to make them better for the environment than internal combustion engine vehicles, but we’ve also noted that EV carbon footprints aren’t necessarily as better than ICE vehicles as many people think.Now, the hits keep on coming: we’re finding out that EVs cost more to service than internal combustion
	Oil prices fall 4% on rising global Covid cases, continuing slide following worst week since October Oil prices were under pressure on Monday following a week of steep losses as rising Covid cases spark fears of a demand slowdown.
	Delta variant, supply-chain chaos threaten to derail strong back-to-school shopping season Shoppers have gown more anxious to visit stores, while some are cutting back spending, according to a new survey from First Insight.
	Norwegian Cruise Line can require Florida passengers to show proof of Covid vaccination, federal judge rules The court’s decision clears the way for Norwegian Cruise Line to require customers to show proof of vaccination.
	The world is nowhere near the end of the pandemic, says famed epidemiologist Larry Brilliant Larry Brilliant, an epidemiologist who was part of the WHO team that helped eradicate smallpox, said the delta variant is “maybe the most contagious virus” ever
	Used car prices to stay high until automakers can fix production issues: Carvana CEO There will be a ‘lasting impact’ on used car prices until automakers can solve production issues caused by chip shortages, says the CEO of Carvana.
	The CDC reversal on masks changed the way companies view the delta variant, earnings calls show Companies have been talking more about the Covid delta variant after new cases accelerated in the U.S. and the CDC reversed its mask guidance.
	Disney ‘should be ashamed’ for statement against Scarlett Johansson, SAG president says The president of the Screen Actor’s Guild slammed Disney for “bullying” Scarlett Johansson in a public statement it made about the “Black Widow” star’s lawsuit.
	Lionel Messi receives formal PSG two-year contract offer after Barcelona exit Lionel Messi has received a formal two-year contract offer from Paris Saint-Germain.
	5 things to know before the stock market opens Monday Dow Jones Industrial Average and S&P 500 futures indicated a lower open for the benchmark indexes to kick off the new week.
	Op-ed: Sometimes it’s just worth paying someone to handle various tasks and chores If you can afford to hire someone to perform some services for you, you can see benefits ranging from better health to more free time.
	Governor of Idaho, home to one of U.S.’ lowest vaccination rates, urges residents to get Covid shot Republican Idaho Gov. Brad Little is urging state residents to get vaccinated against Covid to fuel the state’s economy and keep schools open this fall.
	Frontier Airlines will require employees to get vaccinated or regularly take Covid tests Frontier Airlines on Friday said it will require employees to get vaccinated against Covid-19 or regularly provide proof of negative tests.
	The first batch of Sephora shops opened inside Kohl’s. Here’s what to expect and where they’ll be next On Friday, four Kohl’s stores unveiled the new Sephora-branded beauty departments. Another 73 will roll out on Aug. 20. At least 850 will be running by 2023.
	NYT Reporter Ridiculed For Fawning “Sophisticated, Vaccinated” Description Of Obama Party Guests NYT Reporter Ridiculed For Fawning “Sophisticated, Vaccinated” Description Of Obama Party Guests Authored by Paul Joseph Watson via Summit News, NYT White House correspondent Annie Karni faced ridiculed for describing the guests who attended Barack Obama’s maskless super spreader party as œsophisticated, vaccinated. During an appearance on CNN, Karni said that attendees represented a œsophisticated, vaccinated crowd, and guests were œfollowing all the safety precautions, while claiming criticism of the party was œoverblown. “a sophisticated, vaccinated crowd” pic.twitter.com/qzh3glcQTQ ” Caleb Howe (@CalebHowe) August 8, 2021
	Federal Judge Sides WithÂ Norwegian Cruise Line To Require Vaccine Passports In Florida Federal Judge Sides WithÂ Norwegian Cruise Line To Require Vaccine Passports In Florida On Sunday, a federal judge sided with Norwegian Cruise Line Holdings Ltd.’s lawsuit challenging Florida’s vaccine passports ban, per a statement from the company.Â U.S. District Judge Kathleen Williams granted Norwegian’s request for a preliminary injunction in a 60-page ruling that blocks Florida’s ban for businesses to require customers or guests proof of vaccination before entry.Â “Amid myriad, rapidly-changing requirements regarding quarantining and testing, there is one constant that facilitates cruise line customers’ access to advertised ports of call: documentary proof of vaccination will expedite passengers’ entry into virtually every single country and port where Plaintiffs intend to sail,” Williams wrote. She said vaccine passports would allow the cruise line to “operate in the safest way possible with 100% vaccina …
	Top Cuomo Aide Melissa DeRosa Steps Down As Governor Resists Resignation Calls Top Cuomo Aide Melissa DeRosa Steps Down As Governor Resists Resignation Calls Authored by Zachary Stieber via The Epoch Times, A topÂ aideÂ toÂ New YorkÂ Gov.Â Andrew CuomoÂ resigned late Sunday. œIt has been the greatest honor of my life to serve the people of New York for the last 10 years, Melissa DeRosa said in a statement to news outlets. œPersonally, the past two years have been emotionally and mentally trying. I am forever grateful for the opportunity to have worked with such talented and committed colleagues on behalf of our state, she added. Cuomo’s office did not return an early morning request for comment. According toÂ
	Futures Fall, Cryptos Soar And Commodities Tumble On Delta, Taper Expectations Futures Fall, Cryptos Soar And Commodities Tumble On Delta, Taper Expectations S&P futures fell (although Nasdaq futs rose) and commodities – especially gold and oil – tumbled as investors fretted over concerns about stimulus tapering and a resurgence in the fast-spreading delta virus variant. Yields dropped tumbled and the dollar steadied. S&P 500 E-minis were down 6.25 points, or 0.14%, Dow E-minis were down 112Â points, or 0.32%, while Nasdaq 100 E-minis were up 22.5 points, or 0.15%. S&P 500 contracts dropped after the underlying index closed at a record on Friday.Â Expectations that the Federal Reserve may soon start paring back its massive monetary stimulus were fanned by comments from Dallas Fed President Robert Kaplan. In U.S. premarket trading, cryptocurrency-exposed stocks such as Bit Digital (BTBT) and Riot Blockchain (RIOT) soared after Bitcoin and Ether prices spiked over the weekend. Future Fintech (FTFT) also jumped 15% after the blockchain e-commerce company was touted on Reddit and StockTwits. Other cryptocurrency-exposed stocks.Â
	Groupon told to improve how it treats customers The competition watchdog warns the discounter it faces legal action unless it takes ‘swift’ action.
	Ocado to allow staff to work remotely from abroad The move will apply for one month a year as the government says flexible working is “here to stay”.
	SFO probes Gavin Woodhouse over suspected care home fraud The Serious Fraud Office has launched a fraud investigation into care home entrepreneur Gavin Woodhouse
	Market Movers: Sona Comstar sees a chaandi rally; IRCTC gets back on track The newly-listed automotive parts maker is a pure-play on the upcoming electric vehicle market and according to brokerage firm Nomura Securities India, the stock is the place to be as the global auto fleet gets revamped in the coming years.
	Future Retail bonds tumble with stocks after Reliance deal blow The Mumbai-based supermarket operator’s bonds maturing in 2025 fell by 5.6 cents on the dollar to 57.9 cents, the lowest since Aug. 19 last year, Bloomberg-compiled data show.
	Heavyweight NFOs lift equity MF inflow in July to Rs 22,500 crore Amfi data released for the month of July said investors poured in a net Rs 22,583.52 crore, against the previous month’s deposit of Rs 5,988.17 crore in equity-oriented funds, thanks to buying in broader market funds.
	Futures Movers: Oil prices plunge as China steps up efforts to contain delta variant outbreak Oil futures trade sharply lower, extending last week’s tumble as China took additional steps to limit the spread of the delta variant of the coronavirus that causes COVID-19, underlining fears about global crude demand.
	The Ratings Game: Shake Shack’s problem could be that the excitement fades after a couple of burgers The Avocado Bacon sandwich showed up in 1 of every 5 transactions, so Shake Shack is extending the availability of an avocado add-on.
	Key Words: Head of national teachers union now backs vaccination mandate for educators: ‘The circumstances have changed’ In a reversal, the head of the American Federation of Teachers said Sunday she now supports vaccination mandates for teachers before they return to classrooms this fall, to protect younger students.