04Apr2022 Market Close & Major Financial Headlines: DOW Closed Up 104 Points, NASDAQ Closed Up 1.9%, S&P 500 Closed Up 0.8%, Bitcoin At 4 EST $45900, Dogecoin $0.1448m WTI Crude Settles At 103.50

Britains Torrid Love Affair With Nuclear Power Continues

On March 31 both houses of the UK Parliament passed the Nuclear Energy (Financing) Act. Some critics might say that passage demonstrates that the British Conservative Partys continuing, torrid love affair with nuclear power is as strong as Romeos for Juliet, Antonys for Cleopatra, or Troilus for Cressida. Which, of course, did not end well, but that is another matter. First, some back story. When Prime Minister Margaret Thatchers administration decided to privatize the British electric industry, they decided

Read more at: https://oilprice.com/Energy/Energy-General/Britains-Torrid-Love-Affair-With-Nuclear-Power-Continues.html

Gold Finds Stability As Recession Fears Rise

Gold markets have stabilized following three weeks of decline, recording an uptick of 0.36 percent despite upcoming interest rate hikes being priced into the market. Prices have risen to $1,931 per tonne, up from $1,925 yesterday with markets increasingly influenced by reactions to increasingly volatile geopolitical events. While the current price is more than $100 below the peak recorded in last months rally when prices spiked at $2,057 per tonne it is significantly above last weeks nadir of $1,907. Carlo

Read more at: https://oilprice.com/Latest-Energy-News/World-News/Gold-Finds-Stability-As-Recession-Fears-Rise.html

Russias Grand Plan To Undermine The U.S. Dollar

Vladimir Putins insistence that unfriendly nations pay in rubles for natural gas is just the beginning of a Russian export policy that will see fewer U.S. dollars being used in transactions for goods, especially for energy, according to the Kremlin. Russia has set a March 31 deadline for the countries it considers hostile – including the United States, all EU member states, Switzerland, Canada, Norway, South Korea, Japan, and many others – to start paying in rubles for natural gas. Still,

Read more at: https://oilprice.com/Energy/Energy-General/Russias-Grand-Plan-To-Undermine-The-US-Dollar.html

Semiconductor Sales Surge Despite Ongoing Supply Shortages

The Automotive Monthly Metals Index (MMI) increased by 8.1%, as palladium prices surged in the early part of the month and renewed COVID-related restrictions in China impacted automotive operations. COVID restrictions in China curb production While many parts of the world have started to roll back COVID-related restrictions, a resurgence of cases in parts of China has led Beijing to ramp up mitigation efforts. In keeping with its zero-COVID policy aims, the cities of Changchun and Shenzhen have shut down in response to a surge in COVID cases. China

Read more at: https://oilprice.com/Latest-Energy-News/World-News/Semiconductor-Sales-Surge-Despite-Ongoing-Supply-Shortages.html

U.S. Drilling Activity Has Risen 60% In One Year

One of the latest lines of attack in the finger-pointing over rising gasoline prices goes like this: U.S. oil companies are sitting on a huge number of permits, content to reap enormous profits while they refuse to drill for oil. This is mostly false, but with a kernel of truth that is never taken in context. So lets discuss whats really happening. The truth is that the number of rigs drilling for oil in the U.S. is steadily climbing. The year-over-year increase in the Baker Hughes North America Rig Count is now about 60%. In fact,

Read more at: https://oilprice.com/Energy/Crude-Oil/US-Drilling-Activity-Has-Risen-60-In-One-Year.html

EU Considers Energy Sanctions Against Russia Over War Crimes In Ukraine

The European Union condemned on Monday the killing of unarmed civilians by Russian forces while retreating from Ukrainian towns and vowed a new wave of severe sanctions would follow against Russia in a matter of days, including potential sanctions against Russias oil, gas, or coal exports. Haunting images of large numbers of civilian deaths and casualties, as well as destruction of civilian infrastructures show the true face of the brutal war of aggression Russia is waging against Ukraine and its people. The massacres in the town

Read more at: https://oilprice.com/Latest-Energy-News/World-News/EU-Considers-Energy-Sanctions-Against-Russia-Over-War-Crimes-In-Ukraine.html

Climate change could cost U.S. $2 trillion each year by the end of the century, says White House

The analysis by the Office of Management and Budget found that climate change could hit federal revenues with a 7.1% annual loss by the end of the century.

Read more at: https://www.cnbc.com/2022/04/04/climate-change-could-cost-us-2-trillion-each-year-by-2100-omb.html

How Walmart thwarted $4 million in elder gift card scams

In the first nine months of 2021, consumers reported losing $148M in frauds where gift cards from Walmart, Target and other vendors were used to pay scammers

Read more at: https://www.cnbc.com/2022/04/04/walmart-saved-millions-from-elder-gift-card-scams.html

FDA says Covid vaccines may need to be updated to ensure high level of effectiveness against virus

The FDA’s committee of vaccine experts will meet Wednesday to discuss how the U.S. should go about changing the current ones if needed.

Read more at: https://www.cnbc.com/2022/04/04/fda-says-covid-vaccines-may-need-to-be-updated-to-ensure-high-level-of-effectiveness-against-virus.html

Nordstrom leadership reclaims oversight of struggling Rack business as executives retire

The company has appointed Ken Worzel and Jamie Nordstrom to newly created roles as chief customer officer and chief stores officer, respectively.

Read more at: https://www.cnbc.com/2022/04/04/nordstrom-leadership-reclaims-oversight-of-struggling-rack-business.html

Ford’s first-quarter sales fell 17% as the automaker battled a chip shortage

Sales declined 17% during the first quarter, including a 26% slide last month, as Ford continues to battle a global shortage of semiconductor chips.

Read more at: https://www.cnbc.com/2022/04/04/fords-first-quarter-sales-fall-17percent-as-automaker-battles-chip-shortage.html

‘There are so many ways to lose money.’ Advice for college athletes from former basketball player turned financial advisor

Former college basketball player turned financial advisor Joe McLean discusses the challenges young athletes face when they come into sudden wealth.

Read more at: https://www.cnbc.com/2022/04/04/former-basketball-player-turned-advisor-offers-money-advice-to-college-athletes.html

Getting a divorce? Here’s how to tackle those money issues

When going through a divorce, it’s crucial to focus on future financial health, and financial advisors can help newly single ex-spouses sort out money matters.

Read more at: https://www.cnbc.com/2022/04/04/getting-a-divorce-heres-how-to-tackle-those-money-issues.html

EV start-up Polestar signs deal to supply up to 65,000 vehicles to Hertz

Hertz will begin making Polestar’s EVs available in its Europe rental fleet soon, and in the United States by the end of 2022.

Read more at: https://www.cnbc.com/2022/04/04/ev-startup-polestar-signs-deal-to-supply-up-to-65000-vehicles-to-hertz.html

Tiger Woods turns up at Augusta National in FootJoy golf shoes, not Nike

Speculation is swirling as to why Tiger Woods wasn’t wearing the iconic Nike swoosh on his feet when he stepped onto the green this weekend.

Read more at: https://www.cnbc.com/2022/04/04/tiger-woods-turns-up-at-august-national-in-footjoy-golf-shoes-not-nike.html

Starbucks stock falls as interim CEO Howard Schultz suspends share buybacks

Starbucks is suspending its share repurchase program as Howard Schultz returns to the helm of the company.

Read more at: https://www.cnbc.com/2022/04/04/starbucks-stock-falls-as-ceo-howard-schultz-suspends-share-buybacks.html

Here’s a simple way to make a monthly budget and start saving money

The more you track your expenses, the better you’ll get at budgeting month to month.

Read more at: https://www.cnbc.com/2022/04/04/how-to-make-a-monthly-budget-in-a-spreadsheet-and-start-saving-money.html

Bullion, Big-Tech, & Black Gold Bid; Bitcoin Battered As Bond Curve Steepens

Bullion, Big-Tech, & Black Gold Bid; Bitcoin Battered As Bond Curve SteepensThe big story of the day today was the acceleration of the recession/QE trade – a return to growth over value…

Source: Bloomberg

Which meant long-duration tech dominated the gains today (with Nasdaq up  over 2% and S&P outperforming). Dow and Small Caps underperformed…

The S&P rallied back above its 50DMA, but the Dow and Nasdaq could not manage it…

Read more at: https://www.zerohedge.com/markets/bullion-big-tech-black-gold-bid-bitcoin-battered-bond-curve-steepens

Biden’s “Absolute” Defense Of Hunter Leaves Media & Justice Department In A Muddle

Biden’s “Absolute” Defense Of Hunter Leaves Media & Justice Department In A MuddleAuthored by Jonathan Turley,

Below is my column in The Hill on President Joe Biden doubling down on his absolute defense of his son Hunter Biden. The comments only magnify the concerns over Attorney General Merrick Garland refusing to appoint a special counsel despite the clear basis for such an appointment.  It is clear that the President “absolutely” stands by his son and that the media absolutely stands by the President. The question is whether Garland will stand by justice and appoint a special counsel.

Here is the column:

“We absolutely stand by the president’s comment.” With those words, White House communications director Kate Bedingfield reaffirmed that President Biden maintains his son Hunter Biden did “nothing [that] was unethical” and never “made money” in China.

Read more at: https://www.zerohedge.com/political/bidens-absolute-defense-hunter-leaves-media-justice-department-muddle

Airlines Canceled Thousands Of US Flights Over Weekend

Airlines Canceled Thousands Of US Flights Over WeekendAirlines canceled more than 3,500 US flights this weekend and delayed thousands more, citing weather-related issues in Florida and airspace congestion, according to AP News.

On Saturday morning, storms in Florida caused widespread cancelations and delays at several Florida airports (including Miami, Ft. Lauderdale, Tampa, and Orlando), along with ones in Baltimore and New York, according to the flight-tracking website FlightAware.

“Severe weather in the Southeast and multiple air traffic control delay programs have created significant impacts on the industry,” a JetBlue spokesperson told AP News in an email.

“Today’s cancellations will help us reset our operation and safely move our crews and aircraft back in to position,” the spokesperson continued.

Southwest Airlines said “weather and airspace congestion” in Florida resulted in more than 1,000 canceled flights over the weekend. The airline noted that “technology issues” were also a factor but didn’t expand on those problems.

We are experiencing flight disruptions across our network today due to briefly pausing our service earlier this morning as we worked to resolve an intermittent technology issue, as well as ongoing weather challenges impacting multiple areas within our system. (1/2)

— Southwest Airlines (@SouthwestAir)

Read more at: https://www.zerohedge.com/markets/airlines-cancel-thousands-us-flights-over-weekend

Putin Driving Up Oil Prices Is An “Outrageous Lie”: USF Geology Professor Dr. Marc Defant

Putin Driving Up Oil Prices Is An “Outrageous Lie”: USF Geology Professor Dr. Marc DefantSubmitted by QTR’s Fringe Finance

About two weeks ago, I published an interview with Dr. Marc Defant about why he thought President Biden’s oil policies were “bat-shit crazy” and creating more turmoil than they were helping alleviate problems in markets.

This past weekend, I was happy to welcome him onto my podcast for a discussion about the current state of energy in the U.S., including pros and cons of natural gas, fracking, shutting down pipeline projects in the U.S. and the cost benefit analysis of extreme activist environmentalists.

Read more at: https://www.zerohedge.com/markets/putin-driving-oil-prices-outrageous-lie-usf-geology-professor-dr-marc-defant

Easter flight cancellations to continue for days

At least 60 easyJet flights are to be scrapped on Tuesday due to a high level of staff absence.

Read more at: https://www.bbc.co.uk/news/business-60990119?at_medium=RSS&at_campaign=KARANGA

Elon Musk snaps up $3bn Twitter stake

Tesla founder Elon Musk has bought almost a tenth of Twitter shares, worth almost $3bn.

Read more at: https://www.bbc.co.uk/news/business-60979656?at_medium=RSS&at_campaign=KARANGA

Cryptocurrency: UK Treasury to regulate some stablecoins

Treasury Minister John Glen says “stablecoins” could be used as a means of payment.

Read more at: https://www.bbc.co.uk/news/business-60983561?at_medium=RSS&at_campaign=KARANGA

Monetary policy preview: Will RBI tow the Fed line of actions?

The inflationary pressures are becoming more generalised given the broad-based surge in input costs.

Read more at: https://economictimes.indiatimes.com/markets/stocks/news/monetary-policy-preview-will-rbi-tow-the-fed-line-of-actions/articleshow/90640030.cms

Trade setup: Defensive counters to see traction; time to avoid chasing high-beta stocks

Tuesday is likely to see the levels of 18,100 and 18,145 acting as potential resistance points. The supports will come in at 18,000 and 17,880.

Read more at: https://economictimes.indiatimes.com/markets/stocks/news/trade-setup-defensive-counters-to-see-traction-time-to-avoid-chasing-high-beta-stocks/articleshow/90646974.cms

Tech View: Bulls take Nifty50 past 18,000, eye further gains

“Once the bulls manage to conquer the interim top of 18,350, decks will be cleared for new lifetime highs. However, as the HDFC twins alone contributed around 225 points out of 382 points in today’s session, any profit booking or pause in these stocks may temporarily halt the upward movement for Nifty50,” said Mazhar Mohammad of Chartviewindia.in.

Read more at: https://economictimes.indiatimes.com/markets/stocks/news/tech-view-bulls-take-nifty50-past-18000-eye-further-gains/articleshow/90642165.cms

In One Chart: Stocks didn’t rally despite inverted yield curve, they rallied because of it, says veteran strategist

The yield curve is telling investors more about inflation and the Federal Reserve than it is about the prospect of recession, says Barry Knapp.

Read more at: http://www.marketwatch.com/news/story.asp?guid=%7B20C05575-04D4-B545-7B81-B7AFBA002CEE%7D&siteid=rss&rss=1

Key Words: U.S. economy will fall into a recession this summer, as inflation eats into consumer spending, former Fed official warns

Former Fed Governor Lawrence Lindsey said Monday that the U.S. economy will slump into a recession in the third quarter.

Read more at: http://www.marketwatch.com/news/story.asp?guid=%7B20C05575-04D4-B545-7B8A-A4389D6CD02E%7D&siteid=rss&rss=1

Financial Crime: Ex-finance chief ordered to return $4.7 million she stole from children’s charity to buy fleet of planes, houses and a Corvette

Ruth Marie Phillips was sentenced to seven years for steering money from a West Virginia charity into her pockets and aviation business.

Read more at: http://www.marketwatch.com/news/story.asp?guid=%7B20C05575-04D4-B545-7B7E-FD119AA45785%7D&siteid=rss&rss=1