Written by Gary
New York Fed Weekly Economic Index (WEI): Index Declines (SPY +0.1%). Producer Price final demand inflation continues to heat up.
Here is the current market situation from CNN Money | |
North and South American markets finished mixed as of the most recent closing prices. The Bovespa gained 1.21%, while the IPC led the S&P 500 lower. They fell 1.14% and 0.06% respectively. |
What Is Moving the Markets
Here are the headlines moving the markets. | |
IEA Warns Delta Variant Will Slow Down Oil Demand Growth In H2New mobility restrictions in Asia to fight the Delta variant are set to slow global oil demand growth in the second half of 2021, the International Energy Agency (IEA) said on Thursday, although it left its full-year demand growth estimates largely unchanged. The IEA sees global oil demand growth rising by 5.3 million bpd to an average of 96.2 million bpd in 2021 and by another 3.2 million bpd in 2022, the agency said in its closely-watched Oil Market Report published on Thursday. Growth for the second half of 2021 has been downgraded more | |
Biden Administration Takes Aim At Soaring Gasoline PricesA senior Biden administration official has asked the head of the Federal Trade Commission to look into the possibility of price gouging and other illicit practices that could swell gasoline prices. The director of the National Economic Council, Brian Deese, has approached FTC head Lina Khan with a request to monitor the U.S. gasoline market and address any illegal conduct that might be contributing to price increases for consumers at the pump, as quoted by the AP, which notes the administration could advise the FTC but not instruct | |
Blue Hydrogen Worse Than Natural Gas: StudyBlue hydrogen, the kind that involves fossil fuels combined with carbon capture, could be worse for the environment than natural gas or even coal, a new study has suggested. The study, conducted by researchers from Cornell University and Stanford, also suggested that the carbon footprint of blue hydrogen is as much as 60 percent higher than that of burning diesel for heating, Energy Live News reports. “Politicians around the world, from the UK and Canada to Australia and Japan, are placing expensive bets on blue hydrogen as a leading solution in | |
OPEC Sees Oil Demand At 100 Million Bpd Next Year Despite COVID SurgeGlobal oil demand is expected to average 96.6 million barrels per day (bpd) this year and exceed 100 million bpd in the second half of 2022, OPEC said on Thursday, keeping its estimates from a month ago unchanged despite the COVID resurgence in major economies, including China and the United States. In its Monthly Oil Market Report (MOMR), the organization raised its estimates for global economic growth for both 2021 and 2022, but left unchanged last months forecasts for global oil demand, expecting the economic recovery to take place mainly | |
Lebanon’s Energy Crisis Worsens As Central Bank Cuts SubsidiesLebanons central bank said on Wednesday that it would end the subsidies for fuel amid a country-wide energy crisis. Instead, the central bank will extend lines of credit for fuel importers at the current market pricea decision that will increase fuel pricesas much as four foldat a time when energy shortages are already rampant in the country. The subsidies will officially end on Thursday. The central bank said it can no longer afford to subsidize the fuel, which it has done since the start of the countrys financial | |
Biden Calls For More Oil, But Will OPEC+ Supply It?OPEC+ has not yet discussed President Biden’s call on the cartel to increase oil production in a bid to reduce prices at the pump for American drivers, Russian Sputnik reported, citing an unnamed source from one of the group’s delegations. The White House earlier this week appealed to OPEC+ to raise oil production by more than the cartel had planned as prices of gasoline continued up driven by demand and tight supply. “We are engaging with relevant OPEC+ members on the importance of competitive markets in setting prices,” U.S. National Security | |
How to improve LinkedIn job postings amid the tightest labor market in historyWith businesses battling one of the tightest labor markets in recent memory, a creative approach on LinkedIn could help them stand out and attract job seekers. | |
Production snags cause Ford to delay deliveries of Ford Bronco SUV and Mustang Mach-EThe delays are due to a roof issue for the Bronco SUV and a shortage of semiconductor chips for the Mustang Mach-E crossover. | |
Adidas strikes deal to sell off struggling Reebok to Authentic Brands GroupThe retail conglomerate has bought other struggling brands, such as Brooks Brothers, Aeropostale and Forever 21. | |
U.S. health department mandates Covid vaccine shots for its 25,000 employeesThe vaccine requirement from HHS comes just days after the Pentagon issued mandated the shots or all service members to get immunized. | |
Uncertainty is back on Main Street as delta variant rattles reopening plansSmall businesses on Main Streets across the U.S., from restaurants to bars, gyms and salons, were preparing for a full economic reopening. Uncertainty is back. | |
Fauci says everybody will likely need a Covid vaccine booster shot eventually“We’re already starting to see indications of some diminution” in the durability of Covid vaccines, Dr. Anthony Fauci said. | |
Blood clots associated with AstraZeneca vaccine are ‘rare but devastating,’ study saysA very small number of people who have been inoculated with the AstraZeneca vaccine have suffered blood clots. | |
Mayo Clinic: COVID Breakthrough Risk May Be Much Lower With Moderna Than PfizerThe pre-print study suggested the Pfizer vaccine was 34 points less effective in preventing infection last month, at least in one state, NBC New York reports. | |
Here’s why herd immunity from Covid is ‘mythical’ with the delta variantAchieving herd immunity with Covid vaccines when the highly infectious delta variant is spreading is likely to be impossible, leading experts say. | |
Low wind speeds hurt profits at two of Europe’s major energy firmsChanges in weather can have an effect on renewable energy generation. | |
How to handle Medicare if you’re returning to the U.S. after living overseasAnyone who turns 65 while living abroad, with plans to return to the U.S., should familiarize themselves with the rules that apply to Medicare enrollment. | |
US Considers Possible Evacuation Of Kabul Embassy As Taliban Moves InUS Considers Possible Evacuation Of Kabul Embassy As Taliban Moves In Authored by Dave DeCamp via AntiWar.com, According to a report published by Politico Wednesday, the US is considering shuttering its embassy in Kabul, Afghanistan, as the Taliban is making significant gains across the country. One source told Politico that the embassy could be evacuated by the end of the month. The evacuation is just one option being considered, and the State Department said Tuesday that it is evaluating the security of the embassy on a “daily basis.” The US ordered a drawdown of its diplomatic staff in Kabul at the end of April, right before the withdrawal of US troops started. | |
Tyson Employees Walk Off Job To Protest Vaccine MandateTyson Employees Walk Off Job To Protest Vaccine Mandate A group of around a dozen Tyson Foods employees in West Tennessee took to the streets of Newbern on Wednesday to protest the company’s new vaccine mandate. The employees say they’re risking their jobs to fight against the recent corporate decision to require all employees to take the Covid-19 vaccine, according to KFVS12. While nobody from the group would speak on camera to news crews – citing their employment agreements, one local business owner spoke on their behalf. “Nobody wants to be pressured to do anything, especially to their own body, that they don’t want to do,” said Jill Blessing. “For Tyson to actually say, hey, get the shot or you lose your job, and some of these people, I talked to a girl who has worked here 30 years. And that’s a huge thing to put on somebody when that’s their livelihood.” Around 650 people work at this particular plant. | |
Peter Schiff: When It Comes To Inflation, We’re Just Getting StartedPeter Schiff: When It Comes To Inflation, We’re Just Getting Started Via SchiffGold.com, The July Consumer Price Index (CPI) data came out this week. For the first time, the numbers were in line with expectations, leading many mainstream pundits to declare œtransitory inflation is already starting to cool down. Peter Schiff broke down the report in his podcast. He said inflation is far from cooling off. In fact, when it comes to rising prices, you haven’t seen anything yet. July CPI rose 0.5% month-on-month. This was in line with expectations for the first time this year. Every other CPI report had come in hotter than expected. The year-on-year CPI came in at 5.4% ” a high number, but in line with expectations. Core CPI, stripping out more volatile food and energy, c … | |
Taliban In Striking Distance Of Kabul After Key Road & City CapturedTaliban In Striking Distance Of Kabul After Key Road & City Captured A day after a new US intelligence assessment was reported by The Washington Post as predicting Kabul will likely fall to the Taliban within a one month to 90 day time frame, which is a significant revision down from the six month forecast reported in June, the Taliban has captured a key strategic city and major road which puts it within striking distance of the populous Afghan capital. Ghazni is the tenth provincial capital to fall, but this time after after a “long and intense fighting” according to local officials (in contrast to many places where there’s been little resistance reported). The Taliban subsequently claimed successful seizure of the city in social media messages, which included the capture of the governor’s office, a prison and police headquarters, CNN reports. | |
Pret a Manger makes staff pay cuts permanentThe firm had said unpaid breaks would be temporary but trade remains “significantly below” pre-Covid levels. | |
Tui boss: UK falling behind European travel recoveryUK bookings lag the rest of Europe amid shifting Covid travel restrictions, the travel giant says. | |
UK economy rebounds as Covid restrictions easeRetail, restaurants and hotels show strong growth between April and June but data misses forecasts. | |
Tata Steel Q1 results: Co reports consolidated PAT at Rs 9,768 cr, beats estimateThe country’s largest steelmaker reported a 109.5 per cent year-on-year growth in consolidated total revenue from operations to Rs. 53,371.8 crore for the reported quarter, which was slightly above analysts’ expectations. | |
Market Movers: Dip buyers line up for broader market stocks; VIP soarsPost the clarification by the BSE on Wednesday over its new surveillance rules, dip buyers, who were sitting on the fence for a correction, lined up to buy shares of midcap and smallcap companies that had seen hefty correction over the past week. | |
Banks expect biggest pick-up in loan demand from retail sector, mfg, services: NomuraThe Covid-19 pandemic’s second wave, which struck India in March, wreaked the most damage on loan demand from the services and retail sectors, Nomura Global Markets Research said. | |
07 August 2021 New York Fed Weekly Economic Index (WEI): Index DeclinesWritten by Steven Hansen The New York Fed’s Weekly Leading Index (WLI) declined this past week. This index’s trend is worsening based on the 13-week rolling average. | |
July 2021 Producer Price Final Demand Inflation Continues To Heat UpWritten by Steven Hansen The Producer Price Index (PPI) year-over-year inflation increased from +7.3 % to +7.8 % | |
: An analyst just dropped his price target on Lordstown Motors stock to $1Wall Street remains worried about Lordstown Motors Corp.’s cash burn and production risks, with one analyst slashing his price target on the electric-vehicle maker’s stock to $1 and warning that the electric truck maker could run out of cash by year’s end. | |
MarketWatch Options Trader: The ultimate bull case for the stock market: It keeps making new highsœPrice is king, so you have to respect the S&P 500’s chart, writes Lawrence G. McMillan. | |
Market Snapshot: Dow, S&P 500 touch records as investors assess economic dataU.S. stocks put in a mixed performance, with the Dow Jones Industrial Average and S&P 500 touching intraday records, as investors weigh economic data with an eye toward what it means for the Federal Reserve’s plans to eventually taper its asset purchases. |
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