Written by Gary
U.S. stock futures were little changed this morming, a day after the DOW and SP 500 pulled back from all-time highs (SPY +0.03%). Oil prices bounce after holding key support seen in Monday selloff.
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. | |
Update On The Worlds Most Exciting Oil Play: Interview With Scot EvansAs Recon Africa (TSXV:RECO; OTC:RECAF) continues to de-risk what we believe is the most exciting onshore oil play the world has seen in decades, we had a chance to speak with the CEO Scot Evans about the results so far and why the management team are so excited about what they have discovered to date. To get a better understanding of Recon Africas incredible story you might want to look through some previous interviews with founder Craig Steinke and legendary geologist Dan Jarvie. Highlights of the interview with Scot: Why Recon Africa might | |
Cheap Natural Gas Is A Thing Of The PastThe era of cheap natural gas might be gone for good. U.S. natural gas futures climbed to a 31-month high of 4.16/MMBtu on Thursday thanks to forecasts for hotter weather over the next two weeks and soaring global gas prices ensuring that U.S. liquefied natural gas (LNG) exports will remain at record highs. Refinitiv has projected that average gas demand, including exports, will climb from 90.9 bcfd in the current week to 94.5 bcfd next week as cooling demand keeps rising. Next week’s forecast is actually lower than anticipated because some | |
2021 Has Been A Blockbuster Year For Offshore Oil And GasFor an industry in trouble, the oil and gas industry is doing pretty well in terms of discoveries and final investment decisions. So far this year, 21 new offshore projects received a final investment decision, according to Westwood Global Energy Group. At the same time, a number of discoveries were made, tapping billions in new oil reserves. The Middle East and Latin America are the leaders in final investment decisions, to the tune of a $20 billion, Offshore magazine reports, citing Westwood analyst Joe Killen. In the Middle East, one of the | |
Iraq, Kurdistan Region Look To Resolve Long-Standing Oil DisputeThe federal government of Iraq and the semi-autonomous region of Kurdistan pledged on Sunday to cooperate in resolving their differences in energy issues, hoping to turn a new page on energy-related matters. Iraqi Minister of Oil Ihsan Abdul Jabbar Ismaael met with Kamal Atroushi, Minister of Natural Resources of the Kurdistan Regional Government (KRG), in Baghdad on Sunday to discuss a fresh start to the energy relations, Kurdistan 24 news outlet reports. The Iraqi oil minister welcomed cooperation with the KRG ministry of | |
Nuclear Energy Is Staging A ComebackNuclear energy had been falling further and further out of favor amid falling costs for renewable energy installations. But suggestions of its death have been highly exaggerated. The $1-trillion bipartisan deal that the Senate approved earlier this month envisages $6 billion to support nuclear power. And some utilities are considering mini reactors to support their emission reduction efforts. There is perhaps no better proof that nuclear power would be needed in the net-zero world than the fact that the infrastructure billwhich runs for | |
Insurgents Repelled From TotalEnergies Mozambique LNG AreaSecurity forces from Rwanda and Mozambique have taken the Mozambican port city of Mocmboa da Praia from insurgents, whose attacks in the area forced Frances giant TotalEnergies to suspend a $20-billion liquefied natural gas (LNG) project earlier this year. The port city of Mocmboa da Praia, a major stronghold of the insurgency for more than two years has been captured by Rwandan and Mozambican security forces. The city also holds the District Headquarters and Airport, the Ministry of Defense of Rwanda tweeted | |
The rise of Marriott and what’s next for the hotel giant post-pandemicThe rollout of Covid-19 vaccines and signs of pent-up travel demand among consumers has given Marriott International a renewed sense of optimism.  | |
America’s small businesses still can’t find workers, but that’s not their biggest problemThe job market is making things tough for small businesses, but even more entrepreneurs are struggling with inflation in raw materials and the supply chain. | |
Sports merchandise company Fanatics now valued at $18 billion with new investors including hip-hop mogul Jay ZFanatics chairman Michael Rubin will serve as CEO of a new company formed under its umbrella after a $325 million raise. | |
5 things to know before the stock market opens TuesdayU.S. stock futures were little changed Tuesday, a day after the Dow Jones Industrial Average and S&P 500 pulled back from all-time highs. | |
Lionel Messi agrees to join Paris Saint-Germain on two-year contract after leaving BarcelonaThe six-time Ballon d’Or winner had two other options after leaving Barcelona last week, but has chosen to move to the French club on a deal worth £25m per year after tax, plus bonuses. | |
Etihad Airways expects ‘tidal wave of demand’ as first-half losses halve to $400 millionThe airline of the United Arab Emirates’ capital has been suffering losses for years. | |
China’s Covid lockdown could have economic costs to the world, says strategistChina’s tough Covid-19 measures to combat an uptick in daily cases would hold back economic growth and hit markets, said veteran strategist David Roche. | |
Fully vaccinated people are still getting infected with Covid. Experts explain whySo-called “breakthrough” Covid cases are being seen in people who have had two doses of a coronavirus vaccine. | |
The ‘buy now, pay later’ trend could be the next hidden source of consumer debt, analysts warn“Buy now, pay later” options used by consumers for online purchases are becoming increasingly popular, but analysts warn of default risks. | |
Vaccines are being required for travel ” here’s how unvaccinated people feel about thatUnvaccinated people are eager to travel again. But increasingly, the rules make that harder. | |
Asian countries try a new strategy to get people on board with vaccines: Free prizesIn a race to get more people vaccinated, businesses and local governments are coming up with creative ways to encourage those who are still hesitant. | |
Charts show that Covid is hitting parts of Asia harder now than when the pandemic beganIndonesia, Malaysia, Singapore, Thailand, Vietnam and the Philippines saw a rise in daily reported cases and deaths from the disease in July. | |
Hawaiian Airlines is the latest carrier to mandate Covid vaccinations for staffHawaiian Airlines became the latest U.S. carrier to require that its U.S. staff get vaccinated against Covid-19. | |
Investigating Missing Details In the Democrat’s $3.5 Trillion Anti-Poverty, Climate PlanInvestigating Missing Details In the Democrat’s $3.5 Trillion Anti-Poverty, Climate Plan Authored by Mike Shedlock via MishTalk.com, Let’s go over the nebulous details of the $3.5 trillion Democrat plan for America. What’s in the Plan? $726 billion for the Health, Labor, Education and Pensions Committee with expansive instructions to address some of Democrats’ top priorities. Those areas include universal pre-K for 3- and 4-year-olds, child care for working families, tuition-free community college, funding for historically black colleges and universities and an expansion of the Pell Grant for higher education. $107 billion for the Judiciary Committee, including instructions to address “lawful permanent status for qualified immigrants.” $135 billion for the Committee on Agriculture Nutrition and Forestry, including instructions to address forest fires, reduce c … | |
Local Sales Of China-Made Teslas Collapse In JulyLocal Sales Of China-Made Teslas Collapse In July Following months of uncertainty regarding Tesla’s relationship with the CCP, things still look to be a little shaky in Asia for the automaker. This morning it was reported that Tesla sold 32,968 China-made vehicles – this includes vehicles sold in China and vehicles exported – according to the China Passenger Car Association (CPCA), in July. This was below the 33,155 vehicles sold in June; a number that we pointed out could have been a sign that the ship had steadied between Tesla and China – and that demand was once again rising. But July’s numbers seem to indicate little, if any, growth in demand between June and July. Shipments of locally made vehicles sold in China plunged, to 8,621 cars from 28,138 in June. There is generally cyclicality for automaker sales wherein the beginning of a quarter (July) comes in markedly lower than the end of the previous quarter (June). Source: | |
Futures Flat Ahead Of Senate Infrastructure Bill VoteFutures Flat Ahead Of Senate Infrastructure Bill Vote There was a bit of a glitch in the matrix overnight when shortly after 10pm ET, spoos suddenly hit an air pocket, sliding 0.2% lower on a spike in volume, although the move was nothing like the flash crash in gold one day earlier. However, a few hours later it’s as if nothing had happened as futures drifted higher and were back near all time highs as traders awaited fresh progress towards the passing of a much-anticipated infrastructure bill on Tuesday morning despite media concerns that the delta variant is straining some hospitals across Florida and Texas. At 715 a.m. ET, Dow e-minis were down 17 points, or 0.06%, S&P 500 e-minis were unchanged, and Nasdaq 100 e-minis were up 21.5 points, or 0.14%. Treasury yields were also unchanged while the dollar drifted higher. The Senate has set a vote on passage of the $1 trillion bipartisan infrastructure bill for 11 a.m. ET, after which it would immediately begin to debate $3.5 trillion in additional investments. With new coronavirus cases rising steadily in t … | |
Prince Andrew Sued By Epstein Accuser Over Alleged Sexual AbusePrince Andrew Sued By Epstein Accuser Over Alleged Sexual Abuse Authored by Isabel van Brugen via The Epoch Times, One of Jeffrey Epstein’s longtime accusers on Monday filed a lawsuit against Britain’s Prince Andrew, saying she was sexually assaulted by him on three separate occasions when she was 17. In a lawsuit filed in the U.S. District Court in Manhattan, Virginia Giuffre, formerly known as Virginia Roberts, said that about two decades ago, Queen Elizabeth’s second son sexually assaulted and battered her.
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Tobacco giant Philip Morris in auction showdown to buy asthma firmPhilip Morris is locked in a £1bn battle with private equity firm Carlyle over drugmaker Vectura. | |
JetBlue to launch NY-UK flights despite pandemicThe airline says there is “strong demand” for the route as the global travel industry recovers. | |
TikTok named as the most downloaded app of 2020The Chinese app’s popularity comes even after former President Donald Trump tried to ban it in the US. | |
Market Movers: What triggered bloodbath in smallcap and midcap stocks?Nearly one out of five stocks traded on the National Stock Exchange ended in the red today while over 300 stocks closed at the lower circuit limit. The intensity of the selling took most of the market by surprise even as the benchmark indices managed to keep a poker face amid the mayhem. | |
Retail buying pushes 4 BSE500 stocks up 50-85% so far in 2021The four ” namely Indian Energy Exchange, Indiabulls Real Estate, Dixon Technologies, and Just Dial ” have climbed 50-85 per cent so far in Calendar 2021, thanks to a 572-896 basis points hike in holdings by small investors in the two quarters to June 30 ( i.e. the first six months of the calendar), data suggests. | |
Coal India Q1 results: PAT rises 52% YoY to Rs 3,170 cr, misses estimates; sales up 37%The company reported a 37 per cent on-year rise in consolidated revenue from operations to Rs 25,282.15 crore for the quarter, which was better than Street’s expectations. | |
The Moneyist: ‘I wonder if he married me for monetary reasons’: I want to buy a home without putting my husband of 7 years on the deed‘He wanted half from the sale of the house I inherited from my mother.’ | |
The Moneyist: I found money stashed in my late father’s house. One brother owes me money, and the other stole from my mother. What should I do?‘My idea was to hold on to it, until I see them being more responsible with finances.’ | |
Futures Movers: Oil prices bounce after holding key support seen in Monday selloffOil futures trade higher Tuesday, bouncing after holding support above the July lows in a sharp selloff during the previous session blamed on fears the spread of the delta variant of the coronavirus that causes COVID-19 will dent demand for crude. |
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