The Green Back rose on Saint Paddy’s Day to $97.99 along with U.S. equities on moderately lower green volume. Investors are getting used to the Fed’s actions as stocks jumped for a third day. “We’re on day three of potential gains here, and a lot of investors are going in thinking maybe there are calmer waters,” Jeff Kilburg, the chief investment officer of Sanctuary Wealth, said this afternoon.
Investors digesting the latest news out of Ukraine seem to be getting comfortable with the outcome of the Federal Reserve meeting yesterday. However, the down trend line of the three major indexes was broken upwards may be a false flag, leading to more losses.
Wall Street stocks rebounded from early losses this morning as investors considered the Federal Reserve’s economic implications, which some say were surprisingly aggressive.
Crude prices originally rose on initial supply shortages and concerns from the Russia-Ukraine war. Oil prices spike nearly 10% as hopes of Ukraine’s ceasefire fade. As the White House continues to push back against the oil industry over high gasoline prices, WTI and Brent crude rallied today to gain nearly 10% by 3:30 p.m. ET. In addition, oil prices rebounded substantially today after a major selloff earlier in the week.
A summary of headlines we are reading today:
- A Million New Millionaires Were Created In U.S. Last Year, And The Richest Got Richer, Report Says
- Stocks Go Full Green On St Paddy’s Day Ahead Of Massive OpEx
- Uranium Stocks Soar After U.S. Signals Aid For Nuclear Power
- Russia Says It Made Debt Payments In Dollars, A Move That Would Avert Potential Default: Reports
These and other headlines and news summaries moving the markets today are included below.
The Market in Perspective
| Here are the headlines moving the markets. | |
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Oil Prices Spike Nearly 10% As Hopes Of Ukraine Ceasefire FadeAs the White House continues to push back against the oil industry over high gasoline prices, WTI and Brent crude rallied on Thursday to gain nearly 10% by 3:30 p.m. ET. Oil prices rebounded substantially on Thursday after a major selloff earlier in the week. That earlier selloff had stripped away nearly all the gains that crude oil had made after Russias invasion of Ukraine and resulting sanctions. By 4:30 pm, WTIs gains had eased somewhat, but was still trading up $8.21 on the day at $103.30 per barrel. Brent crude was trading up Read more at: https://oilprice.com/Latest-Energy-News/World-News/Oil-Prices-Spike-Nearly-10-As-Hopes-Of-Ukraine-Ceasefire-Fade.html |
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Africas Electrification Needs $350 Billion Investment By 2030Sub-Saharan Africa, the region with the lowest universal access to energy, needs $350 billion in investments, one-fifth of which needs to be off the grid, to achieve universal electricity access by the end of this decade, Wood Mackenzie said on Thursday. According to the African Development Bank Group, more than 640 million Africans have no access to energy, which corresponds to an electricity access rate for African countries at just above 40 percent, the lowest in the world. Per capita consumption of energy in sub-Saharan Africa, excluding Read more at: https://oilprice.com/Latest-Energy-News/World-News/Africas-Electrification-Needs-350-Billion-Investment-By-2030.html |
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Breaking The Gas Tax Could Save Some Pain At The PumpSome states in the U.S. are pausing gas taxes in a bid to rein in prices at the pump, but others are soldiering on without tax relief. The Michigan Senate, for instance, this week approved a suspension of state gas taxes for six months. The state’s governor is expected to veto the bill, however, with one Democratic Senator who opposed the bill saying the tax was necessary for road and bridge repairs. “We are still impacting the costs that the residents who drive will incur on repairing their tires, replacing their tires, repairing their axles, Read more at: https://oilprice.com/Energy/Energy-General/Breaking-The-Gas-Tax-Could-Save-Some-Pain-At-The-Pump.html |
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OECD: Russias Invasion Of Ukraine Will Stifle Global Economic GrowthRussias invasion of Ukraine will shave around one percentage point off of global economic growth this year, reveals new forecasts by the group of rich nations. Disruption to flows of Russian and Ukrainian commodities as a result of the conflict will deliver a sharp blow to the Eurozone economy, according to the Organisation of Economic Co-operation and Development (OECD). The Continent is heavily reliant on Russia for gas supplies, meaning economic activity could be curbed in the bloc if flows are scuppered. Oil and gas prices have whipsawed Read more at: https://oilprice.com/Latest-Energy-News/World-News/OECD-Russias-Invasion-Of-Ukraine-Will-Stifle-Global-Economic-Growth.html |
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Carbon Capture And Storage Spending To Top $50B Through 2025Service sector spending on carbon capture and storage (CCS) developments is set to skyrocket this decade, quadrupling from 2022 to 2025, with cumulative global expenditure over the next three years topping $50 billion, Rystad Energy research indicates. Total spending for announced commercial projects in 2022 is projected to hit $4.4 billion, up from $2.8 billion last year. Outlay is then expected to nearly triple in 2023, topping $11 billion for the year. Projections show 2024 and 2025 will see an additional $18 billion and $19 billion, respectively, Read more at: https://oilprice.com/Energy/Energy-General/Carbon-Capture-And-Storage-Spending-To-Top-50B-Through-2025.html |
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Wind Farms Grapple With Government Red Tape In The UKOctopus Energy (Octopus) has called on the government to cut red tape and speed up the building process for ramping up wind power in the UK. Zoisa North-Bond, chief executive of Octopus Energy Generation told City A.M. that planning laws and getting renewables connected to the grid remain the biggest blockers of wind farms across the UK. She noted that it currently takes seven years on average to build a wind farm and suggested the process could be reduced to just one year if the government acted, now ahead of the coming winter. Read more at: https://oilprice.com/Latest-Energy-News/World-News/Wind-Farms-Grapple-With-Government-Red-Tape-In-The-UK.html |
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GameStop shares fall as retailer reports loss during holiday quarterGameStop has gotten attention from investors due to the meme stock frenzy. Read more at: https://www.cnbc.com/2022/03/17/gamestop-gme-q4-2021-earnings.html |
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Americans are pausing investments because of the Russia-Ukraine war. Here’s what it could cost themThe ongoing Russia-Ukraine war is hurting Americans’ financial outlook, causing many to pause investing, according to a survey. Here’s why that’s a problem. Read more at: https://www.cnbc.com/2022/03/17/americans-are-pausing-investments-because-of-the-russia-ukraine-war.html |
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Burger King partner in Russia refuses to close 800 locations, as fast-food chain moves to divestThe structure of the company’s Russian business hampers its ability to shutter restaurants in the market like some of its competitors. Read more at: https://www.cnbc.com/2022/03/17/burger-king-moves-to-divest-from-russian-joint-venture.html |
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Audi expects ‘tremendous interference’ to global supply chain due to Russian-Ukraine warAutomakers have warned that the conflict is creating extreme uncertainty this year regarding vehicle production, sales and financial forecasts. Read more at: https://www.cnbc.com/2022/03/17/audi-expects-war-in-ukraine-to-cause-tremendous-interference.html |
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Merck’s Keytruda reduced risk of disease recurrence or death in early lung cancer patients by 24%Merck plans to submit the data on early stage lung cancer to the FDA as soon as possible. Read more at: https://www.cnbc.com/2022/03/17/mercks-keytruda-reduced-risk-of-recurrence-or-death-in-early-lung-cancer-patients-by-24percent.html |
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A million new millionaires were created in U.S. last year, and the richest got richer, report saysThe roaring stock market and crypto gains created more than a million new millionaires in the U.S. last year, according to a new report. Read more at: https://www.cnbc.com/2022/03/17/million-new-millionaires-were-created-in-us-last-year-report-says.html |
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Delta gives employees 4% raises, first pay increase since before the pandemicCarriers are scrambling to hire and train staff to match surging travel demand. Read more at: https://www.cnbc.com/2022/03/17/delta-gives-staff-4-percent-raises.html |
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Impossible Foods taps Chobani executive as new CEO, founder Pat Brown steps downImpossible Foods founder Pat Brown is stepping down as CEO, and Chobani’s departing operating chief, Peter McGuinness, will lead the plant-based meat company. Read more at: https://www.cnbc.com/2022/03/17/impossible-foods-poaches-chobani-exec-to-be-new-ceo-founder-pat-brown-steps-down.html |
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Stocks making the biggest moves midday: Dollar General, Occidental Petroleum, Guess and moreThese are the stocks posting the largest moves in midday trading. Read more at: https://www.cnbc.com/2022/03/17/stocks-making-the-biggest-moves-midday-dollar-general-occidental-petroleum-guess-and-more.html |
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Maserati unveils all-electric plan, starting with a new 1,200-horsepower GranTurismoMaserati plans to offer electric versions of its entire lineup by 2025, starting next year with a new GranTurismo EV featuring more than 1,200 horsepower. Read more at: https://www.cnbc.com/2022/03/17/maserati-to-go-all-electric-starting-with-1200-horsepower-granturismo.html |
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Biden names Dr. Ashish Jha new Covid response coordinator to succeed Jeff ZientsJha leads Brown University’s School of Public Health and previously headed Harvard’s Global Health Institute. Read more at: https://www.cnbc.com/2022/03/17/biden-names-dr-ashish-jha-new-covid-response-coordinator-as-jeff-zients-leaves.html |
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This 26-year-old turned her side hustle into a $170,000-per-year business: ‘4 things I wish I knew sooner’Blogger Gabby Beckford made $170,000 in one year after taking her side hustle full-time — but she’s hit plenty of bumps in the road. Here’s the advice she says would’ve helped her have a smoother path to business success. Read more at: https://www.cnbc.com/2022/03/17/26-year-old-who-turned-her-side-hustle-into-a-170000-per-year-business-shares-best-advice.html |
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Britain’s P&O Ferries lays off 800 staff and suspends sailing, saying its business is ‘not sustainable’British ferry operator P&O Ferries made 800 staff redundant and suspended sailing with immediate effect Thursday, saying the business was “not sustainable.” Read more at: https://www.cnbc.com/2022/03/17/po-ferries-sacks-800-staff-and-suspends-sailing-says-not-sustainable.html |
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Chris Cuomo Goes Scorched Earth On CNN, Demands $125 MillionChris Cuomo Goes Scorched Earth On CNN, Demands $125 MillionFired CNN lead anchor Chris Cuomo has filed an arbitration claim for $125 million in compensation from the company, arguing that he was “wrongfully terminated” and that the network made him “the scapegoat” over a broader scandal regarding how CNN dealt with he and his brother – disgraced New York Governor Andrew Cuomo – which culminated in last month’s ouster of network president Jeff Zucker and his longtime lover / lieutenant, Allison Gollust.
Cuomo’s attorney argued that CNN also “violated the express terms of his employment agreement by allowing its employees to disparage him,” according to the Washington Post.
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Escobar: Say Hello To Russian-Gold And Chinese-PetroyuanEscobar: Say Hello To Russian-Gold And Chinese-PetroyuanAuthored by Pepe Escobar via The Cradle, The Russia-led Eurasia Economic Union and China just agreed to design the mechanism for an independent financial and monetary system that would bypass dollar transactions…
It was a long time coming, but finally some key lineaments of the multipolar world’s new foundations are being revealed. On Friday, after a videoconference meeting, the Eurasian Economic Union (EAEU) and China agreed to design the mechanism for an independent international monetary and financial system. The EAEU consists of Russia, Kazakhstan, Kyrgyzstan, Belarus and Armenia, is establishing free trade deals with other Eurasian nations, and is progressively interconnecting with the Chinese Belt and Road Initiative (BRI). For all practical purposes, the idea comes from Sergei Glazyev, Russia’s fo … Read more at: https://www.zerohedge.com/geopolitical/escobar-say-hello-russian-gold-and-chinese-petroyuan |
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Stocks Go Full Green On St Paddy’s Day Ahead Of Massive OpExStocks Go Full Green On St Paddy’s Day Ahead Of Massive OpExThe post-Powell hangover hit early on St.Paddy’s Day on Ukraine peace talks problems but there was still a bucket full of negative delta to be unwound ahead of tomorrow’s massive op-ex and that was enough to spur dip-buyers to extend yesterday’s gains. Led by Small Caps, but all major US equities soared from around the European Close…
Today’s gains come after 2 days of back-to-back surges in stocks (on track for its best week of the year)… which occurred as the S&P triggered a death-cross (50DMA crosses below 200DMA)… Read more at: https://www.zerohedge.com/markets/stocks-go-full-green-st-paddys-day-ahead-massive-opex |
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YouTube Flags Tulsi Gabbard’s Criticism Of “War Machine” As “Offensive” ContentYouTube Flags Tulsi Gabbard’s Criticism Of “War Machine” As “Offensive” ContentAuthore by Paul Joseph Watson via Summit News, YouTube flagged a Fox News interview in which former Congresswoman Tulsi Gabbard said war in Ukraine was good for the military industrial complex as “offensive” content.
Yes, really. Apparently, upsetting war profiteering defense contractors is now grounds for censorship. During the interview, host Laura Ingraham asked Gabbard why people were still demanding no fly zones, something that would likely cause World War III, when President Zelensky was “stepping back from his earlier NATO wishes and even demands?” Gabbard responded by pointing out that Zelensky has said he’s willing to negotiate with Putin and “set this NATO membership thing aside.” According to YouTube, such advocacy for peace is borderline content and needs to be hidden behind a warning screen. The video is also ag … Read more at: https://www.zerohedge.com/political/youtube-flags-tulsi-gabbards-criticism-war-machine-offensive-content |
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P&O Ferries sparks outrage by sacking 800 workersStaff are told via video it is their “final day of employment” and escorted off ships by security guards. Read more at: https://www.bbc.co.uk/news/business-60779001?at_medium=RSS&at_campaign=KARANGA |
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Interest rates rise again to counter higher pricesBank of England increases rates for the third time in four months as the cost of living rises. Read more at: https://www.bbc.co.uk/news/business-60763740?at_medium=RSS&at_campaign=KARANGA |
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Ocado sales hit as workers return to the officeThe online grocer says its sales have fallen in recent months as people revert to pre-pandemic habits. Read more at: https://www.bbc.co.uk/news/business-60777497?at_medium=RSS&at_campaign=KARANGA |
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Winners of the future? 5 platform stocks to bet on: Dipan MehtaThere are a number of platform companies which we are quite positive on. These are quite profitable as well. The likes of IndiaMart, Route Mobile, Affle India, Fino Payment Bank and perhaps Tanla Solutions are the businesses which have got quite unique business models, a good deal of scalability, high operating leverages and clear cut market leadership. These could be the new ideas over the next two, three years or so. Read more at: https://economictimes.indiatimes.com/markets/expert-view/winners-of-the-future-5-platform-stocks-to-bet-on-dipan-mehta/articleshow/90285271.cms |
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Vanguard buys stake in BSE, GNFC, Angel One and many othersThe investment group also bought 5,34,917 shares of Birla Jute & Industries for its Emerging Market ETF. The average price of shares was 1099.90. This transaction was valued at Rs 59 crore. Read more at: https://economictimes.indiatimes.com/markets/stocks/news/nse-bse-bulk-deal-vanguard-buys-stake-in-bse-gnfc-angel-one-and-many-others/articleshow/90295987.cms |
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IDFC First Bank MD & CEO gifts 5 lakh shares to kin of deceased colleagueVaidyanathan had earlier too gifted his shares to staff members, including his trainer, househelp and driver, to help them purchase homes. Read more at: https://economictimes.indiatimes.com/markets/stocks/news/idfc-first-bank-md-ceo-gifts-5-lakh-shares-to-kin-of-deceased-colleague/articleshow/90297154.cms |
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Market Snapshot: Dow ends more than 400 points higher as stocks extend winning streakU.S. stocks end higher Thursday, as investors follow through on gains scored after the Federal Reserve delivered a widely expected rate increase. Read more at: http://www.marketwatch.com/news/story.asp?guid=%7B20C05575-04D4-B545-7AC0-6DA81C77EED4%7D&siteid=rss&rss=1 |
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: Wisdom for St. Patrick’s Day: Six money tips that worked for Nanie Sheehan, my Irish grandmotherLive simply and within your means. Timely advice that works today. Read more at: http://www.marketwatch.com/news/story.asp?guid=%7B20C05575-04D4-B545-7AC9-A9FCA1B7ED9F%7D&siteid=rss&rss=1 |
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The New York Post: U.S. citizen James Hill among those killed in Russian attack in ChernihivA US citizen was killed in the Ukrainian city of Chernihiv during what his sister said Thursday was an attack on civilians waiting in a bread line. Read more at: http://www.marketwatch.com/news/story.asp?guid=%7B20C05575-04D4-B545-7ACA-63E44CBCB5AA%7D&siteid=rss&rss=1 |
