Written by Gary
U.S. stock futures are flat this morning, one day after the S&P 500 and Nasdaq closed at record highs (SPY +0.01%). The biggest premarket movers: Dick’s Sporting, J&J, Express Shoe, Carnival.
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. | |
All-Electric Future Comes At A Huge CostThe electrification of homes is touted as one way to reduce greenhouse gas emissions in the residential sector as the U.S. Administration aims for a net-zero economy by 2050. But going all-electric will not be as easy as it seems. The electrify everything drive comes with higher upfront andin some caseshigher maintenance costs for consumers, higher costs for homebuilding contractors, and higher intangible costs for politicians who may prematurely call the end of gas furnaces and boilers and saddle voters with higher | |
Why Pfizers FDA Approval Has Been A Boon For Oil PricesThe recent resurgence in Covid-19 infections in many parts of the world led not just to a slump in oil prices but growing pessimism about the prospects of oil demand. However, some recent news has reversed the sentiment, with optimism pushing prices higher again. Perhaps the biggest news was the Food and Drug Administration’s granting full approval of the Pfizer/BioNTech vaccine this week. The approval sparked hopes that vaccine hesitancy in the United States would diminish now, which would in turn potentially encourage more fuel demand. In further | |
China And Iran Zero-In On Omans Massive New Oil Storage ProjectOman occupies a strategically vital position in the geography of the Middle East, possessing long coastlines along the Gulf of Oman and along the Arabian Sea, away from the extremely politically sensitive Strait of Hormuz.These offer largely unfettered access to the markets of South Asia, West Asia, and Africa, as well as to those of its neighbours in the Middle East. A key project in Omans attempts to monetise this favourable geographical position is the Ras Markaz Oil Storage Park and the government announced last week that it is in the | |
Why Nuclear Fusion Is Still The Holy Grail Of Clean EnergyJust 100 years ago, when English mathematician and astronomer Arthur Eddington suggested that the stars power themselves through a process of merging atoms to create energy, heat, and light, the idea was an unthinkable novelty. Now, in 2021, were getting remarkably close to recreating the process of nuclear fusion here on Earth. Over the last century, scientists have been steadily chasing commercial nuclear fusion, the holy grail of clean energy. The first direct demonstration of fusion in a lab took place just 12 years | |
Disappointing Crude Draw Threatens Shaky Oil RallyThe American Petroleum Institute (API) on Tuesday reported a draw in crude oil inventories of 1.622 million barrels for the week ending August 20, bringing the total 2021 crude draw so far to more than 58 million barrels, using API data. Analysts had expected a loss of 2.367 million barrels for the week. In the previous week, the API reported a draw in oil inventories of1.13 million barrelsa loss smaller than the 1.259 million barrel draw that analysts had predicted. Oil prices began to rise on Monday and continued on Tuesday, staunching | |
Citgo Could Help Venezuelas Refineries Get StartedRefiner Citgo Petroleum, the U.S. subsidiary of Venezuelas state-held oil firm PDVSA, expects to play a bridge role in a Venezuelan transition once U.S. sanctions are lifted, and could help with the revamp of Venezuelas decrepit refineries, Citgos chief executive Carlos Jord told Argus in an interview. Citgo could provide a bridge for products and help someone to get those refineries started, Jord told Argus in the interview published this week. The U.S. sanctions on Venezuela have | |
5 things to know before the stock market opens WednesdayU.S. stock futures were flat Wednesday, one day after the S&P 500 and Nasdaq closed at record highs. | |
Stocks making the biggest moves premarket: Dick’s Sporting, J&J, Express, Shoe Carnival, othersThese are the stocks posting the largest moves before the bell. | |
Dick’s Sporting Goods shares rise after second-quarter sales surge 21%, retailer raises forecastThe big-box retailer’s sales have soared during the pandemic, as customers have bought workout clothes, sneakers, golf clubs and other outdoor equipment. | |
Two beaten-down gambling stocks could be poised to rebound, traders sayCasino stocks are on a hot streak this week. Which could continue their run? Two traders share where they’re placing their bets. | |
J&J says its Covid vaccine booster shot generated a promising immune response in early trialsJ&J’s booster dose generated virus-fighting antibodies “nine-fold higher” than those seen four weeks after the first dose, the company said. | |
Africa has been shortchanged on Covid vaccines, African Development Bank saysCovid vaccines are not getting to Africa in time, in the right quantity and the right price, said Akinwumi Adesina, president of the African Development Bank. | |
Covid: 85-90% of the U.S. must be vaccinated ‘if we’re going to get past this,’ warns Dr. Peter HotezDr. Peter Hotez explains why the spread of the delta coronavirus variant has forced the threshold to achieve herd immunity much higher in the U.S. | |
Eyeglass retailer Warby Parker in IPO filing reveals rising sales “but also widening lossesThe brand, which is best known for selling lower-priced, fashion-forward prescription glasses, is preparing to debut on Wall Street. | |
Nordstrom earnings beat, retailer raises forecast, but shares fall as sales still below 2019 levelsNordstrom reported fiscal second-quarter profit and sales that topped analysts’ estimates. | |
Fuel-cell vehicles are set for big gains in China’s commercial truck market, JPMorgan saysFuel cell vehicles could account for one-third of commercial trucks in China by 2050, says JPMorgan’s Elaine Wu. | |
White House Covid officials up the pressure on private employers to mandate vaccines: ‘Now is the time’White House Covid officials on Tuesday called for private employers to mandate vaccines after the FDA fully approved Pfizer’s coronavirus vaccine. | |
WHO says Covid misinformation is a major factor driving pandemic around the worldA WHO official said misinformation about Covid and vaccines appears to have gotten worse and is keeping people from getting the shots, driving a rise in cases. | |
Japan And Taiwan To Discuss China Aggression Amid Invasion ThreatsJapan And Taiwan To Discuss China Aggression Amid Invasion Threats The probabilities are increasing that China will try and seize Taiwan by force amid America’s disorganized exit from Afghanistan has tarnished U.S. prestige. Allies of the West, such as Japan and Taiwan, are set to hold a meeting about an increasingly aggressive China. The Financial Times spoke with Masahisa Sato, a parliamentarian who manages foreign affairs for Japan’s ruling Liberal Democratic Party (LDP), on Tuesday, said discussions are needed about the implications of a China invasion of Taiwan because it would have “a serious impact” on Japan’s security and economy. “That is how important we feel the situation in Taiwan is at the moment,” Sato said. Sato wouldn’t be feeling this way if it wasn’t for America’s chaotic exit from Afghanistan has worried U.S. allies, such as Japan and Taiwan, if China attempts to seize Taiwan by force, even though the U.S. … | |
The Shortages Are Going To Get Worse Later This Year As Global Supply Chains Increasingly FalterThe Shortages Are Going To Get Worse Later This Year As Global Supply Chains Increasingly Falter Authored by Michael Snyder via TheMostImportantNews.com, Have you noticed that it is a lot harder to get certain things these days? Just recently, someone in my local area was surprised when her appointment to get the windshield on her vehicle fixed was canceled because it wasn’t possible to get a replacement windshield. This was a windshield for a very common vehicle, and normally that wouldn’t be a problem at all. But these are not normal times. Thanks to several factors that I will detail in this article, global supply chains are now under more strain than we have ever seen in the post-World War II era, and unfortunately it appears that things are going to get even worse as we approach the holiday season. I know that … | |
Futures Flat Near All Time High As Traders Brace For J-HoleFutures Flat Near All Time High As Traders Brace For J-Hole US equity futures traded flat near all-time highs in a muted session as traders prepared for the Fed’s annual Jackson Hole symposium with little action across markets. The dollar was steady, while Treasurys and bitcoin fell and oil reversed losses. Contracts on the Nasdaq 100 and S&P 500 were fractionally lower after trading in the green for much of the session. Their underlying indexes closed at a record as strong corporate earnings and a rally in commodity prices outweighed lingering concerns about the threat of Covid-19 to the global economy. œThere is a sense of stabilization in the markets, as investors are already looking forward toward the Jackson Hole meeting, said Dariusz Kowalczyk, a senior strategist at Credit Agricole CIB.  œWith uncertainty regarding Fed Chair Jerome Powell’s message, markets are likely to not take new major positions until there is more clarity on the Fed’s outlook. In premarket trading, Locust Walk Acquisition soared after its shareholders approved its SPA … | |
Peter Schiff: Less Loose Fed Monetary Policy Isn’t Tight Fed Monetary PolicyPeter Schiff: Less Loose Fed Monetary Policy Isn’t Tight Fed Monetary Policy Via SchiffGold.com, There’s been a lot of talk about the Federal Reserve tapering its asset purchases. Peter Schiff talked about it during his podcast, saying even if the Fed does getting around to tapering, that doesn’t equate to a legitimately tight monetary policy. Furthermore, any tapering today sows the seeds for its own destruction. The minutes from the July Federal Reserve meeting came out last week. They revealed the Fed is starting to talk about tapering asset purchases later this year. That sent stocks lower as traders continue to anticipate Fed monetary tightening. The hardest-hit sectors were economically sensitive cyclical stocks and anything that was part of the reflation trade … | |
Iceland supermarket boss sounds alarm over Christmas suppliesRichard Walker tells the BBC the lorry driver shortage is getting worse, just as retailers start Christmas planning. | |
Amigo warns of collapse as losses jump and compensation payouts riseThe sub-prime lender Amigo sets aside £345m for compensation for mis-selling and warns it may not survive. | |
Mr Kipling maker Premier Foods offers staff hybrid workingPremier Foods says office staff can work “wherever they work best”, starting from this month. | |
Sebi orders defreezing of bank, demat accounts, MF folios of Rana KapoorThe regulator, in March, had attached bank accounts, share and mutual fund holdings of Kapoor to recover dues of over Rs 1 crore. The decision was taken after Kapoor failed to pay the fine imposed on him. | |
Delhivery plans $1 billion IPO filing in OctoberThe company, backed by SoftBank Vision Fund and Carlyle Group Inc., is targeting a Mumbai listing before March next year, said the people, who asked not to be identified as the information is private. | |
Why Rakesh Jhunjhunwala’s entry failed to trigger a rally in Canara Bank sharesAn updated shareholding pattern by the PSU bank post-QIP suggests Rakesh Jhunjhunwala has entered the stock with a 1.59 per cent stake. | |
Earnings Results: Nordstrom stock tumbles after tougher sales comparisonNordstrom Inc. shares tumbled after the retailer said its quarterly sales doubled as compared with the year-ago period, but fell slightly as compared with the 2019 quarter. | |
: Foot Locker and Adidas join list of companies citing COVID-related supply chain challenges in Vietnam heading into the holiday shopping seasonFoot Locker CEO Richard Johnson said the problems in Vietnam will have a “knock-on effect.” | |
The Ratings Game: Michael Kors parent Capri’s stock jumps after Jimmy Choo vet named CEOJoshua Schulman, who has a long history at luxury brands, will first serve as CEO of Michael Kors, then the entire company |
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