16Mar2022 Market Close & Major Financial Headlines: Wall Street Continues Rally For Second Day, DOW Closes Up 519 Points, NASDAQ Up Sharply 3.8%, S&P 500 up 2.2%, WTI Crude Settles At 95.04, Bitcoin Rises Fractionally To 41200

Chernobyl Could Be Close To New Nuclear Disaster

The Chernobyl nuclear facility could be close to a new nuclear accident as Ukrainian personnel at the plant are held hostages by Russian troops and are running out of food and fuel, the mayor of a nearby town which houses workers at the plant has told Daily Mail. The mayor of Slavutych, Yuri Fomichev, warned that there could be a complete catastrophe at the Chernobyl plant, the site of the 1986 disaster, as workers are stressed out by being held at gunpoint and are running out of supplies and fuel, including fuel for emergency generators

Read more at: https://oilprice.com/Latest-Energy-News/World-News/Chernobyl-Could-Be-Close-To-New-Nuclear-Disaster.html

Africa Could Help Fill The Gap In EU Gas Supply

Brent crude briefly fell below $100 a barrel on Monday, a week after reaching a 14-year high of $130 on March 6, easing fears of an energy-driven recession and chronically high gasoline prices. This marks the first major correction in the energy markets after a period of heightened volatility. Last week, Moscow made good on its threat to weaponize its energy exports in retaliation against Western sanctions by imposing wide-ranging export bans. Alexander Novak, Russia’s deputy prime minister, said his government has the “full right” to “impose an

Read more at: https://oilprice.com/Energy/Natural-Gas/Africa-Could-Help-Fill-The-Gap-In-EU-Gas-Supply.html

Supply Chain Disruptions Force European Automakers To Halt Production

We naturally focus on metals and energy issues when reviewing the Russian invasion of Ukraine. However, metals and energy are not the only commodities or products Russia and Ukraine export to the world. While neither country dominates any sector, both Russia and Ukraine play a significant enough role in certain sectors for supply chain disruption to have a meaningful impact. Automotive supply chain disruption The countries of eastern Europe are the most integrated with their former partners in the old Soviet Union. The Baltic states,

Read more at: https://oilprice.com/Latest-Energy-News/World-News/Supply-Chain-Disruptions-Force-European-Automakers-To-Halt-Production.html

The Oil & Gas Weapon That Must Be Deployed Before A No-Fly Zone

Russia as a gas station In 2014, John McCain memorably stated that Russia is a gas station masquerading as a country. This claim holds true even more today than when McCain said it eight years ago. In 2021, $1.18 Trillion of Moscows total $2.37 Trillion government revenue was collected from oil and gas. This accounts for almost exactly half of the government revenues in 2021. By comparison, in 2020 (the most recent year available), the oil kingdom of Saudi Arabia received 53% of its government revenues from oil and gas.

Read more at: https://oilprice.com/Energy/Energy-General/The-Oil-Gas-Weapon-That-Must-Be-Deployed-Before-A-No-Fly-Zone.html

Energy Spending To Hit Record 13% Of Global GDP In 2022

Rallying energy commodity prices are expected to drive up primary energy expenditures globally to a record 13 percent of world gross domestic product (GDP), comparable to the energy cost levels in the 1979-80 energy crisis, research consultancy for energy technologies Thunder Said Energy said in a report on Wednesday. The expected record 13-percent energy expenditure would be three times the average level of 4 percent between 1900 and 2020, and 1.3 times the 2018 levels, the consultancy noted. Since the beginning of the 20th century, primary

Read more at: https://oilprice.com/Latest-Energy-News/World-News/Energy-Spending-To-Hit-Record-13-Of-Global-GDP-In-2022.html

New Lockdowns In China Could Derail Oil Demand Growth

Traffic in several major cities in China has dropped considerably since the authorities imposed this weekend new regional lockdowns as part of the zero-COVID policy. The decline in traffic in Shanghai and Shenzhen has market participants and analysts concerned about the potential threat to oil demand in the worlds largest crude oil importer. Peak traffic congestion in Shanghai was down by 36 percent on March 15 compared to the same day last year, while traffic jams in Shenzhen were down by 26 percent, Bloomberg reported on Wednesday, citing

Read more at: https://oilprice.com/Energy/Crude-Oil/New-Lockdowns-In-China-Could-Derail-Oil-Demand-Growth.html

Netflix makes Volodymyr Zelenskyy’s show ‘Servant of the People’ available to U.S. streamers

Created by and starring Zelenskyy, “Servant of the People” follows a teacher who unexpectedly becomes president after a video of him complaining about corruption goes viral.

Read more at: https://www.cnbc.com/2022/03/16/netflix-adds-volodymyr-zelenskyys-show-servant-of-the-people.html

96% of travelers want their vacation dollars to positively impact the place they visit, survey finds

Nearly all travelers surveyed by booking platform Kind Traveler said it’s important their travel dollars have a positive effect on the destination they visit.

Read more at: https://www.cnbc.com/2022/03/16/96percent-want-vacation-dollars-to-further-sustainability-goals-says-survey.html

Russia’s invasion of Ukraine will lower car production by millions of units over two years, S&P says

S&P Global Mobility on Wednesday downgraded its 2022 and 2023 global light vehicle production forecast in the latest update by 2.6 million units for both years

Read more at: https://www.cnbc.com/2022/03/16/russian-ukraine-war-to-lower-car-production-by-millions-of-units.html

Here’s what changed in the new Fed statement

This is a comparison of Wednesday’s Federal Open Market Committee statement with the one issued after the Fed’s previous policymaking meeting on Jan. 26

Read more at: https://www.cnbc.com/2022/03/16/heres-what-changed-in-the-new-fed-statement.html

Starbucks is searching for its next CEO. Here’s who could be in the running

Whoever takes the reins will inherit a business still recovering from the pandemic, particularly in China, and facing a swelling effort by baristas to unionize.

Read more at: https://www.cnbc.com/2022/03/16/starbucks-next-ceo-who-could-be-in-the-running.html

Joe Buck and Troy Aikman leave Fox to host ESPN’s Monday Night Football

The superstar announcing team of Joe Buck and Troy Aikman is leaving Fox to host “Monday Night Football” for ESPN, the sports network announced.

Read more at: https://www.cnbc.com/2022/03/16/joe-buck-and-troy-aikman-leave-fox-to-host-espns-monday-night-football.html

Stocks making the biggest moves midday: Alibaba, AeroVironment, Boeing and more

These are the stocks posting the largest moves in midday trading.

Read more at: https://www.cnbc.com/2022/03/16/stocks-making-the-biggest-moves-midday-aerovironment-alibaba-boeing-and-more.html

Beyond first rate hike, the Fed signals that inflation fight is going to get harder

The Federal Reserve raised interest rates, but it’s how hawkish Jerome Powell and the Fed sound in the forecast that’s key for the U.S. economy.

Read more at: https://www.cnbc.com/2022/03/16/why-feds-first-rate-hike-since-2018-isnt-the-key-to-economys-future.html

‘Stop this war immediately,’ NATO chief tells Putin, says military alliance has been strengthened

NATO Secretary-General Jens Stoltenberg on Wednesday urged Russian President Vladimir Putin to stop the war in Ukraine “immediately” and engage in diplomacy.

Read more at: https://www.cnbc.com/2022/03/16/nato-chief-to-putin-stop-this-war-immediately-calls-for-diplomacy-.html

Hydrogen-powered train a step closer to passenger service in Germany

Two-car train will use fuel-cells that are roof-mounted and underfloor batteries.

Read more at: https://www.cnbc.com/2022/03/16/hydrogen-powered-train-a-step-closer-to-passenger-service-in-germany.html

Walmart wants to hire more than 50,000 workers in new business push

The big-box retailer said the new hires will include personal shoppers, delivery drivers and data scientists.

Read more at: https://www.cnbc.com/2022/03/16/walmart-wants-to-hire-more-than-50000-workers-in-new-business-push.html

Kohl’s shares jump 17% after reports say Hudson’s Bay, Sycamore are preparing bids

Kohl’s shares jumped Wednesday after reports said Hudson’s Bay and Sycamore Partners were preparing takeover bids for the retailer.

Read more at: https://www.cnbc.com/2022/03/16/kohls-shares-jump-after-report-says-hudsons-bay-is-considering-buyout-bid.html

Chelsea sale: Chicago Cubs owners and Citadel billionaire Ken Griffin team up to bid for Champions League holders

The owners of the Chicago Cubs and Ken Griffin, the billionaire hedge fund tycoon, have joined forces to table a blockbuster bid for Chelsea Football Club.

Read more at: https://www.cnbc.com/2022/03/16/chelsea-sale-chicago-cubs-owners-and-citadel-billionaire-ken-griffin-team-up-to-bid-for-champions-league-holders.html

Russia Demands US Stop Arms Flow To Ukraine In Call; Sullivan Warns Against Chemical Weapons Use

Russia Demands US Stop Arms Flow To Ukraine In Call; Sullivan Warns Against Chemical Weapons UseInterfax is reporting that Russian Security Council Secretary Nikolai Patrushev asked his US counterpart Jake Sullivan in a Wednesday phone call to stop the US and Western supply of weapons going to Ukraine’s military.

This after for many days now the Kremlin has put NATO countries on notice, saying that any inbound military shipment from external allies of Kiev will be deemed a “legitimate target”. The call also focused on pushing for a ceasefire after a lot of prior back-and-forth over the potential for a concrete ceasefire plan based on Ukraine’s neutrality regarding the NATO question.

Via AP”Mr. Sullivan clearly laid out the United States’ commitment to continue imposing costs on Russia, to support the defense of Ukraine’s sovereignty and territorial integrity and to reinforce NATO’s eastern fl …

Read more at: https://www.zerohedge.com/geopolitical/russia-demands-us-stop-arms-flow-ukraine-call-sullivan-warns-against-chemical-weapons

Blinken Planning Trip To Saudi Arabia Amid Ukraine-Induced Scramble For More Oil

Blinken Planning Trip To Saudi Arabia Amid Ukraine-Induced Scramble For More OilStarting last month there were unconfirmed reports that the White House could be mulling a high level admin trip to Riyadh – possibly even President Biden himself – in order to beg the Saudis to pump more oil, as the Russian invasion of Ukraine and resulting sanctions have put the question of sufficient energy supplies to Europe in peril.

Axios reports Wednesday the White House is looking to send Secretary of State Antony Blinken on a “possible trip to Saudi Arabia, the United Arab Emirates, Israel and the occupied West Bank later this month, according to five U.S., Israeli and Palestinian sources” cited in the report.

If confirmed, this would mark the first time Blinken travels to visit directly with Washington’s two close oil producing Mideast allies. Apparently this will include stopovers to meet with the Israelis and Palestinians, following closer official rela …

Read more at: https://www.zerohedge.com/energy/blinken-planning-trip-saudi-arabia-amid-ukraine-related-scramble-more-oil

Stocks, Gold, Cryptos Soar As Fed Hawkish Surprise Triggers Inversion, Countdown To Policy Error And Next Recesssion

Stocks, Gold, Cryptos Soar As Fed Hawkish Surprise Triggers Inversion, Countdown To Policy Error And Next RecesssionWhat a mess.

After some early volatility, when stocks moved with every fake news headline either out of the FT, Ukraine or Russia, traders put World War III on the backburner to read the FOMC statement and listen to Powell. Initially there were no surprises when the Fed announce a 25bps rate hike, just as expected, a move which is woefully behind the curve as the last time CPI was 7.9%, the Fed funds was 13%…

… but the Fed also boosted its dots so high it effectively confirmed what the market had been saying all along: the Fed now expects 6 more rate hikes in 2022, or one rate hike at every meeting!

Read more at: https://www.zerohedge.com/markets/stocks-gold-cryptos-soar-fed-hawkish-surprise-triggers-countdown-policy-error-and-next

Biden Poised To Remove Iran’s IRGC From Terror List To Wrap Up Nuke Deal

Biden Poised To Remove Iran’s IRGC From Terror List To Wrap Up Nuke DealAt a moment a restored JCPOA Iran nuclear deal is said to be nearing the finish line, despite recent complications involving Russia’s demand of written guarantees that Ukraine-related sanctions won’t hinder its trade with the Islamic Republic, the White House is poised to remove  Islamic Revolutionary Guard Corps from the official terrorist.

Biden’s potentially reversing Trump’s 2019 designation of the elite Iranian military group as a Foreign Terrorist Organization is being seen as a final huge concession toward Tehran, with the immediate effect of providing energy markets relief as additional oil supplies are badly needed for Europe.

Axios’ Barak Ravid reports Wednesday that “The Biden administration is considering removing Iran’s Islamic Revolutionary Guard Corps from a terror blacklist in return for a public commitment from Iran to de-escalation in the region, three Israeli officials and two U.S. sources tell me.”

Read more at: https://www.zerohedge.com/geopolitical/biden-mulls-removing-irans-irgc-terror-list-push-nuke-deal-through

US central bank raises interest rates for first time since 2018

The Federal Reserve raises rates despite Ukraine uncertainty to try to curb soaring inflation.

Read more at: https://www.bbc.co.uk/news/business-60768818?at_medium=RSS&at_campaign=KARANGA

Lloyd’s of London fines insurer Atrium over initiation games

Atrium Underwriters admits three charges relating to bullying and misconduct on ‘boys’ nights out’.

Read more at: https://www.bbc.co.uk/news/business-60767614?at_medium=RSS&at_campaign=KARANGA

Diesel rises again to hit a record £1.76 a litre

Russia’s invasion of Ukraine has rocked global oil prices and pushed up the cost of fuel in the UK.

Read more at: https://www.bbc.co.uk/news/business-60763742?at_medium=RSS&at_campaign=KARANGA

Peak pessimism maybe behind D-St but tread carefully for 2 quarters

“Q4 is going to be very difficult and it will be a challenging quarter for many companies to demonstrate growth and margins. We will have to see how things go for various sectors. Various companies will have different numbers and that will decide how markets will move and how the flows move to different sectors.”

Read more at: https://economictimes.indiatimes.com/markets/expert-view/next-two-quarters-are-going-to-be-challenging-for-market-jinesh-gopani/articleshow/90260026.cms

Day Trading Guide: 2 stock recommendations for Thursday

Nifty Realty index outperformed the most, rallying 3.5%. After a few days of consolidation, the bulls have regained momentum in the realty space and hence a stocks specific rally is possible.

Read more at: https://economictimes.indiatimes.com/markets/stocks/news/day-trading-guide-2-stock-recommendations-for-thursday/articleshow/90276053.cms

Tech View: Nifty50 nears 200-day moving averages, eyes 17K level

The index area of 16,800-17,000 level has in the past proved significant as a few significant bounces and a decisive downside breakout were seen over this range in the recent past.

Read more at: https://economictimes.indiatimes.com/markets/stocks/news/tech-view-nifty50-nears-200-day-moving-averages-eyes-17k-level/articleshow/90270094.cms

Earnings Results: Semtech stock rises as results, earnings outlook exceed Street view

Semtech Corp. shares rose in the extended session Wednesday after the analog semiconductor maker’s results and earnings outlook exceeded Wall Street estimates.

Read more at: http://www.marketwatch.com/news/story.asp?guid=%7B20C05575-04D4-B545-7ABE-52F82E7FEA94%7D&siteid=rss&rss=1

: ‘Nothing is off limits’ as Congress prepares sweeping new Russia sanctions bill, analyst says

Congressional leaders are preparing a ”wide ranging” economic sanctions bill that will strip Russia and its ally Belarus of permanent normalized trade status.

Read more at: http://www.marketwatch.com/news/story.asp?guid=%7B20C05575-04D4-B545-7ABA-EA36CCC09E64%7D&siteid=rss&rss=1

Market Snapshot: Dow books 500-point gain after Fed raises interest rates for first time in 4 years, signals more to come

Stocks zigzag, but end sharply higher, after the Federal Reserve bumps up interest rates by a quarter percentage point to fight against inflation and signals more hikes will follow.

Read more at: http://www.marketwatch.com/news/story.asp?guid=%7B20C05575-04D4-B545-7AB2-D150E13805AD%7D&siteid=rss&rss=1