Beginning the pre-market news reported Initial Jobless Claims 19/MAR was up 187K from 215K, Jobless Claims 4-week Average 19/MAR was up 211.75K from 223.25K. Continuing Jobless Claims 12/MAR was up to 1350K from 1417K and Markit Manufacturing PMI Flash MAR was up to 58.5 from 57.3. In my opinion, that is what sent Wall Street higher, not the doom scrolling. Then the indexes closed at session highs on average green trading volume.
Equities might have rallied higher if we didn’t have a war in Ukraine and idiots running our countries. O.K., not idiots, but they sure are appearing to be irresponsible. E.g., having Russia invade Ukraine and J.B. cancel the Keystone pipeline. Inflation remains a problem, a really big problem, that the Fed has done nothing about it except talk. I can’t imagine mid-term elections have to do with kicking the can down the road.
Laugh For The Day: Biden says he’d be ‘very fortunate’ to face Trump in the 2024 presidential election.
A summary of headlines we are reading today:
- Billionaire Koch Brothers Are Betting Big On An Electric Future
- The U.S. Is Preparing To Send Major LNG Shipments To Europe
- Diesel Crisis In Europe Worsens As Austrian Energy Giant Limits Sales
- The U.S. Is Preparing To Send Major LNG Shipments To Europe
- Bitcoin, Bullion, Big-Tech, & Bond Yields Rise As Crude Crumbles
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. | |
 |
Russias Recklessness In Ukraine Sparks Concerns Of A Nuclear DisasterOn Day 29 of the Russian war in Ukraine, three extraordinary strategy summits are taking place in Europe. A closed-door NATO strategy session, followed by a G7 summit bringing together the worlds most powerful economies, followed by a European Union meeting. If there was any doubt about how serious the conflict in Ukraine is, todays events show just what a threat Putins aggression and unchecked despotism poses to world peace. This week has seen new waves of violence, with Russian forces battering the southeastern port Read more at: https://oilprice.com/Alternative-Energy/Nuclear-Power/Russias-Recklessness-In-Ukraine-Sparks-Concerns-Of-A-Nuclear-Disaster.html |
|
UK And The U.S. Cooperate To Send More LNG To EuropeThe United States and the United Kingdom have agreed to send more liquefied natural gas (LNG) cargoes from Baltimore to the UK and then on to Europe, the British Ambassador to the USA, Karen Pierce, told MSNBC in an interview on Thursday. The UK and the United States have come to an arrangement under which the LNG terminal in Baltimore will send more of the super-chilled fuel to the UK, and then the UK will further ship it onto Europe, Pierce noted. Since tensions between Russia and Ukraine flared up early this year, and especially Read more at: https://oilprice.com/Latest-Energy-News/World-News/UK-And-The-US-Cooperate-To-Send-More-LNG-To-Europe.html |
|
The U.S. Government Should Treat Nuclear Plants Like Military JetsA few weeks ago the Chinese government announced an audacious plan to build 150 new nuclear plants. No specifics were announced but we assume they were planning to build copies of the Chinese-designed 1,000 MW Hualong One reactor, considered an alternative to Westinghouses AP1000. No doubt aware of French and US difficulties completing new reactors on time and within budget, they estimated a per reactor cost of between $2.5-3 billion. The question for us here is: what would a comparable US commitment to build several hundred new nuclear Read more at: https://oilprice.com/Alternative-Energy/Nuclear-Power/The-US-Government-Should-Treat-Nuclear-Plants-Like-Military-Jets.html |
|
EU Assesses No-Russian-Gas Scenario For Next WinterAs part of drafting contingency plans to meet natural gas demand, the European Union is currently assessing all scenarios, including the possibility of a halt in Russian gas supply to the EU next winter, Valdis Dombrovskis, Executive Vice-President of the European Commission, said on Thursday. The EU is reassessing scenarios for partial and full disruption of gas deliveries from Russia next winter in order to help member states revise their gas supply contingency plans, Dombrovskis said at the European Parliament today, as carried Read more at: https://oilprice.com/Latest-Energy-News/World-News/EU-Assesses-No-Russian-Gas-Scenario-For-Next-Winter.html |
|
Billionaire Koch Brothers Are Betting Big On An Electric FutureKoch Industries has been investing substantial sums in electric vehicles and batteries, the Wall Street Journal reported this week. There is nothing special in this news, except Koch Industries is among the companies that were the slowest to respond to the changing energy tides. Koch Industries, the Wall Street Journals Amrith Ramkumar notes in his report, has been funding organizations that question climate change and has been opposed to tighter environmental regulation. Now, it appears that the companys once firm position on the Read more at: https://oilprice.com/Energy/Energy-General/Billionaire-Koch-Brothers-Are-Betting-Big-On-An-Electric-Future.html |
|
The U.S. Is Preparing To Send Major LNG Shipments To EuropeOil dipped about $1 after the Washington Post reported that the Biden administration and European Union are expected to announce a major initiative to direct shipments of liquefied natural gas to Europe during the US presidents visit to Brussels this week. The announcement would come as European officials have asked the US to do more to help them cut their dependence on Russian energy sources. The announcement, part of a “dramatic effort” to deprive Russia of leverage as it continues to batter Ukraine, would mark an unusual move to Read more at: https://oilprice.com/Energy/Energy-General/The-US-Is-Preparing-To-Send-Major-LNG-Shipments-To-Europe.html |
|
Stocks making the biggest moves after hours: The Honest Company, Tilray and moreCheck out the stocks making notable moves after the bell on Thursday, March 24. Read more at: https://www.cnbc.com/2022/03/24/stocks-making-the-biggest-moves-after-hours-honest-company-and-more.html |
|
Investing Club: We’re sticking with Nucor for now, but its rally to new records may not lastAfter taking profits in Nucor three times this month, we’re tempted to trim at even higher prices but going to let it ride for a bit. Read more at: https://www.cnbc.com/2022/03/24/investing-club-were-sticking-with-nucor-for-now-but-its-record-rally-may-be-late-in-the-game.html |
|
Southwest Airlines launches a new, second-cheapest fareThe new Southwest Airlines fare class includes free same-day ticket changes. Read more at: https://www.cnbc.com/2022/03/24/southwest-airlines-launches-a-new-second-cheapest-fare.html |
|
Stocks making the biggest moves midday: Nvidia, Logitech, Nikola, Uber, Cleveland-Cliffs and moreThese are the stocks posting the largest moves in midday trading. Read more at: https://www.cnbc.com/2022/03/24/stocks-making-the-biggest-moves-midday-nvidia-logitech-nikola-uber-and-more.html |
|
Here’s how to settle your loved one’s estate after they pass awayExperts say settling an estate can take six months to several years, depending on prior planning and simplicity of the assets. Here’s what to know. Read more at: https://www.cnbc.com/2022/03/24/heres-how-to-settle-your-loved-ones-estate-after-they-pass-away.html |
|
Trump ‘guilty of numerous’ felonies, prosecutor told Manhattan district attorney as he resigned from probeThe Manhattan District Attorney’s Office has investigated former President Donald Trump for several years, but so far has not charged him. Read more at: https://www.cnbc.com/2022/03/24/trump-is-guilty-of-numerous-felonies-prosecutor-told-manhattan-da.html |
|
Nio’s outlook will be in the spotlight when the Chinese EV maker reports earnings ThursdayChina-based electric-vehicle maker Nio reports fourth-quarter earnings and 2022 guidance after U.S. markets close on Thursday. Read more at: https://www.cnbc.com/2022/03/24/nio-q4-2021-earnings-preview.html |
|
Moderna wants to give FDA ‘flexibility’ in deciding eligibility for 4th Covid shot, CEO says“You have people that are younger adults that have comorbidity factors, and they might need [a] sooner fourth dose to protect them,” CEO Stephane Bancel told CNBC. Read more at: https://www.cnbc.com/2022/03/24/moderna-ceo-stephane-bancel-on-second-covid-vaccine-booster-shots.html |
|
Britain’s P&O Ferries broke the law in laying off 800 staff, boss admitsThe boss of British ferry operator P&O Ferries has admitted that the company broke the law by laying off 800 staff without consulting workers unions. Read more at: https://www.cnbc.com/2022/03/24/britains-po-ferries-broke-the-law-in-laying-off-800-staff-boss-says.html |
|
How to avoid a 6-figure tax penalty on foreign bank accountsIf you have overseas financial accounts, you may need to disclose balances to the U.S. Department of the Treasury by April 15 or incur a steep tax penalty. Read more at: https://www.cnbc.com/2022/03/24/how-to-avoid-a-6-figure-tax-penalty-on-foreign-bank-accounts-.html |
|
Russian oligarch Abramovich’s two superyachts worth a combined $1 billion are escaping sanctions — for nowThe azure waters of southwest Turkey saw the arrival of a two multimillion-dollar superyachts this week reportedly belonging to Russian oligarch Roman Abramovich. Read more at: https://www.cnbc.com/2022/03/24/russia-oligarch-abramovichs-superyachts-evade-sanctions.html |
|
“It Doesn’t Work” For Us – Austrian Chancellor Rejects Biden’s Pressure To Boycott Russia Energy“It Doesn’t Work” For Us – Austrian Chancellor Rejects Biden’s Pressure To Boycott Russia EnergyAs President Biden struggles to convince America’s European allies to bite the bullet and agree to tougher sanctions on Russian energy during his trip to Brussels (where he is participating in meetings with NATO, the G-7 and the EU), Austrian Chancellor Karl Nehammer offered the latest example of why this this will likely be a futile effort on Biden’s part, as uniting Europe in opposition to Russia simply isn’t feasible given its dependence on Russian oil and gas.
Nehammer Speaking Thursday, Nehammer denied reports in the Austrian press claiming his government was in talks to agree to an embargo on Russian energy. The reality couldn’t be further from the truth he said, adding that talk of a Russian energy boycott is “unrealistic and wrong”. “It doesn’t work. Austria gets 80% of its gas from Russia.” What’s more, rumors of a boycott are harmful in and of themselves, because they serve to drive energy prices higher. Austria depends on Russia … Read more at: https://www.zerohedge.com/energy/it-doesnt-work-austrian-chancellor-says-country-wont-agree-russian-energy-boycott |
|
New Florida Law Requires Financial Literacy Class For High School GraduationNew Florida Law Requires Financial Literacy Class For High School GraduationAuthored by Pill Pan via The Epoch Times (emphasis ours), Florida Gov. Ron DeSantis on Tuesday signed into law a bill that makes it a graduation requirement for high school students to complete a course on financial literacy.
Read more at: https://www.zerohedge.com/political/new-florida-law-requires-financial-literacy-class-high-school-graduation |
|
McConnell “Cannot And Will Not Support Judge Jackson” After “Studying Nominee’s Record And Watching Her Performance”McConnell “Cannot And Will Not Support Judge Jackson” After “Studying Nominee’s Record And Watching Her Performance”Senate Republican Leader Mitch McConnell (R-KY) announced that he “cannot and will not” support Judge Ketanji Brown Jackson for a lifetime appointment to the US Supreme Court.
“Judge Jackson was the court packers’ pick and she testified like it,” he added in a Thursday floor speech following two days of committee questioning this week – during which she was asked repeatedly by GOP lawmakers about her history of giving light sentences to pedophiles.
Developing… Read more at: https://www.zerohedge.com/political/mcconnell-cannot-and-will-not-support-judge-jackson-after-studying-nominees-record-and |
|
Niall Ferguson On Misunderstanding History: “Biden Is Making A Colossal Mistake”Niall Ferguson On Misunderstanding History: “Biden Is Making A Colossal Mistake”Authored by Niall Ferguson, op-ed via Bloomberg.com, Biden is making a colossal mistake in thinking he can bleed Russia dry, topple Putin and signal to China to keep its hands off Taiwan…
“The language people speak in the corridors of power,” former Secretary of Defense Ashton Carter once observed, “is not economics or politics. It is history.” In a recent academic article, I showed how true this was after both the 9/11 terrorist attacks of 2001 and the “9/15” bankruptcy of Lehman Brothers in 2008. Policy makers used all kinds of historical analogies as they reacted. “The Pearl Harbor of the 21st century took place today,” Presi … Read more at: https://www.zerohedge.com/geopolitical/niall-ferguson-misunderstanding-history-biden-making-colossal-mistake |
|
P&O Ferries: Not consulting on job cuts broke law, boss admitsPeter Hebblethwaite admits P&O should have consulted unions before sacking 800 ferry workers. Read more at: https://www.bbc.co.uk/news/business-60862933?at_medium=RSS&at_campaign=KARANGA |
|
Funeral firm collapses leaving fears over paymentsSafe Hands, which has 45,000 customers in the UK, sold funeral plans that may no longer be honoured. Read more at: https://www.bbc.co.uk/news/business-60861793?at_medium=RSS&at_campaign=KARANGA |
|
Spring Statement: Rishi Sunak accused of not doing enough for poorest householdsThe chancellor’s mini-Budget is under scrutiny, as Boris Johnson hints at more help for hard-pressed families. Read more at: https://www.bbc.co.uk/news/business-60858113?at_medium=RSS&at_campaign=KARANGA |
|
Back to losing ways! How should you trade Bank Nifty now?The major reason for selling is perhaps the outflow by foreign investors who are some of the largest investors in Indian private banks. As long as foreign outflow continues, banks are not out of danger. Read more at: https://economictimes.indiatimes.com/markets/stocks/news/back-to-losing-ways-how-should-you-trade-bank-nifty-now/articleshow/90423466.cms |
|
Warren Buffett praises Mohnish Pabrai but it’s not about stocksPabrai on Thursday tweeted a snapshot of the letter, which seemed to be sent by ace investor Warren Buffett, praising him for his efforts that were “far more impressive than what business titans, investment gurus and famous politicians ever accomplish.” Read more at: https://economictimes.indiatimes.com/markets/stocks/news/warren-buffett-praises-mohnish-pabrai-but-its-not-about-stocks/articleshow/90415849.cms |
|
Ruchi Soya’s Rs 4,300 crore FPO kicks off: Should you participate?“Considering Ruchi Soya’s strong brand recall, wide distribution, better financial track record and healthy ROE, we have a positive view for the FPO. It is recommended to “subscribe” the issue from the long term perspective,” said Ashika Stock Broking. Read more at: https://economictimes.indiatimes.com/markets/ipos/fpos/ruchi-soyas-rs-4300-crore-fpo-kicks-off-should-you-participate/articleshow/90412232.cms |
|
Earnings Results: Honest stock falls more than 14% as sales of hand sanitizers, masks dropHonest Co. stock falls more than 14% in the extended session Thursday after the consumer products company founded by Jessica Alba saw a wider-than-expected quarterly loss, thanks in part to a steep drop in sales of masks and other pandemic-related products. Read more at: http://www.marketwatch.com/news/story.asp?guid=%7B20C05575-04D4-B545-7B19-6522C42E3C95%7D&siteid=rss&rss=1 |
|
Washington Watch: Key regulator makes concession for natural gas as Russia-sparked U.S. energy and climate concerns festerFERC is still weighing emissions and environmental justice in approvals, but goes easier on natural gas projects in motion and makes some new approvals. Read more at: http://www.marketwatch.com/news/story.asp?guid=%7B20C05575-04D4-B545-7B19-0407880666E1%7D&siteid=rss&rss=1 |
|
Personal Finance Daily: Fed official doesn’t think housing market is headed for a crash and MacKenzie Scott has given away more than $12 billion since divorcing Jeff BezosThursday’s top personal finance stories. Read more at: http://www.marketwatch.com/news/story.asp?guid=%7B20C05575-04D4-B545-7B19-B43664F1F99B%7D&siteid=rss&rss=1 |
Fla. Gov. Ron DeSantis takes questions from reporters at a press conference and signing of a new education bill March 15, 2022 in St. Petersburg, Fla. (The Florida Channel)Under Senate Bill 1054 (pdf), which gained unanimous approval in Florida’s state Legislature, all public school students entering 9t …
