22Apr2022 Market Close & Major Financial Headlines: Dow Declined 2.8% Today And Down For The Week, Month-To-Date

The Netherlands Plans To End Russian Oil And Gas Purchases By The End Of The Year

The Netherlands has a plan to end all purchases of Russian crude oil and natural gas by the end of the year, Dutch Prime Minister Mark Rutte told journalists at a weekly press conference on Friday. The Netherlands is one of the European countries that has increased the amount of crude oil it imports from Russia over the last decade. According to Eurostat data, the Netherlands imported 31.7 million tonnes of crude oil in 2021more than any other EU27 country. In 2020, the Netherlands relied on Russia for nearly one-third of its total crude

Read more at: https://oilprice.com/Latest-Energy-News/World-News/The-Netherlands-Plans-To-End-Russian-Oil-And-Gas-Purchases-By-The-End-Of-The-Yea.html

EU Can Pay for Russian Gas Without Violation Sanctions

Companies in the EU may have discovered a way to pay for Russias gas in rubles without violating sanctions, the European Commission said on Friday. The companies would need to pay in euros or dollars, which would then be converted into rubles, although the transactions would also have to be accompanied by a statement explaining how the companies consider their contractual obligations to be complete once they submitted the euros or dollars. Russia had set a March 31 deadline for unfriendly or hostile nations to

Read more at: https://oilprice.com/Latest-Energy-News/World-News/EU-Can-Pay-for-Russian-Gas-Without-Violation-Sanctions.html

Bearish Sentiment Drags Oil Prices Lower

While there are still plenty of supply risks that could send oil prices soaring, bearish sentiment has taken over oil markets this weak due to falling Chinese demand and the expectation of a global economic slowdown. Oil price Alert: Our trading specialists have just released a special report on how to play today’s boom in oil prices. The current run up in commodity prices has created a generational opportunity in the energy markets. Join Global Energy Alert today and receive our 20-page research report ”5 Ways To Play The 2022 Oil Boom Friday,

Read more at: https://oilprice.com/Energy/Energy-General/Bearish-Sentiment-Drags-Oil-Prices-Lower.html

White House: Europe Determined To Ban Russian Energy Exports

Europe is determined to ban fully or partiallyi mports of Russian oil and gas, a senior White House advisor said on Friday. Europe has been under pressure to decrease its reliance on Russian energy, including coal, natural gas, oil, and nuclear fuel in order to starve Russia of its main income stream. I have confidence that Europe is getting the message, and they are determined to close off this last source of export revenue, Daleep Singh, deputy White House national security advisor, told CNN in an interview. But several

Read more at: https://oilprice.com/Energy/Energy-General/White-House-Europe-Determined-To-Ban-Russian-Energy-Exports.html

IEA Reveals Details Of 182.7 Million Barrel Oil Stocks Release

Member countries of the International Energy Agency will be releasing a total of 182.7 million barrels of oil from emergency stocks over six months, of which 74 percent will come from public stocks and the remaining 26 percent from lowering of national stockholding obligations set on industry, the IEA said on Friday in an update on the oil stocks release. Since the Russian invasion of Ukraine, the IEA members, including the United States, have announced releases from Strategic Petroleum Reserves (SPRs) to try to tame soaring oil and gasoline

Read more at: https://oilprice.com/Latest-Energy-News/World-News/IEA-Reveals-Details-Of-1827-Million-Barrel-Oil-Stocks-Release.html

U.S. Rig Count Inches Higher As Oil Rally Halts

The number of total active drilling rigs in the United States rose by 2 this week, after an increase of 4 rigs in the week prior, according to new data from Baker Hughes published on Friday. The total rig count increased to 695 this week257 rigs higher than the rig count this time in 2021 and the highest count since April 2020. Drilling has picked up substantially since the Russia invasion, adding 45 rigs in the last eight weeks. Oil rigs in the United States rose this week by 1 rig to 549, while gas rigs rose by 1 to 144. Miscellaneous

Read more at: https://oilprice.com/Energy/Energy-General/US-Rig-Count-Inches-Higher-As-Oil-Rally-Halts.html

Florida Gov. DeSantis signs bill revoking Disney’s special district status

Sunsetting the Reedy Creek Improvement District means that local counties will likely be left to foot the bill for pot holes and emergency services at Disney World.

Read more at: https://www.cnbc.com/2022/04/22/florida-gov-desantis-signs-bill-revoking-disneys-special-district-status.html

Bed Bath & Beyond stock jumps on report company received bids for Buybuy Baby unit

Bed Bath recently agreed to explore whether it should sell or spin off the baby apparel and gear retailer as part of a settlement with an activist investor.

Read more at: https://www.cnbc.com/2022/04/22/bed-bath-beyond-stock-jumps-on-report-company-received-a-bid-for-buybuy-baby-unit.html

Stocks making the biggest moves midday: HCA Healthcare, Kimberly-Clark, Gap and more

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

Read more at: https://www.cnbc.com/2022/04/22/stocks-making-the-biggest-moves-midday-hca-healthcare-kimberly-clark-gap-and-more.html

Carlos Ghosn says he would face fair trial in France, suggests timing of arrest warrant ‘suspicious’

Carlos Ghosn has said he expects to receive a “fair trial” in France after being issued an arrest warrant.

Read more at: https://www.cnbc.com/2022/04/22/carlos-ghosn-says-he-expects-fair-trial-in-france-following-arrest-warrant.html

74% of people do not think they will ever achieve high net worth status, survey finds

Achieving high net worth status seems out of reach to many people, a survey finds. Calculating your bottom line can be the first step to becoming wealthier.

Read more at: https://www.cnbc.com/2022/04/22/74percent-of-people-dont-think-they-will-ever-achieve-high-net-worth-status.html

Here’s what to do if you missed the April 18 tax filing deadline

If you missed the April 18 tax deadline, you may cut back on penalties by filing your return promptly. Here’s everything late filers need to know.

Read more at: https://www.cnbc.com/2022/04/22/heres-what-to-do-if-you-missed-the-april-18-tax-filing-deadline.html

Major retailers boost Black female entrepreneurship as employment gap lingers

Ulta, Sephora and Target have created entrepreneurial diversity programs, providing mentorship, financial support and new business opportunities.

Read more at: https://www.cnbc.com/2022/04/22/major-retailers-boost-black-female-entrepreneurship-as-employment-gap-lingers.html

It’s the French election this weekend — here’s what Wall Street expects to happen

The outcome is far from certain, according to Wall Street, which is predicting potential market shocks in the case of a Le Pen victory.

Read more at: https://www.cnbc.com/2022/04/22/french-election-predictions-from-wall-street-goldman-sachs-citi-socgen.html

American Eagle is pitching a ‘frenemy network’ of vertical logistics to its retail peers — and it’s paying off

In the past year, American Eagle has acquired two supply chain businesses in order to build out a logistics platform.

Read more at: https://www.cnbc.com/2022/04/22/american-eagle-pitches-internal-supply-chain-platform-to-retail-rivals.html

5 things to know before the stock market opens Friday

U.S. stock futures were mixed Friday, one day after hawkish comments from Fed Chairman Jerome Powell hit markets.

Read more at: https://www.cnbc.com/2022/04/22/5-things-to-know-before-the-stock-market-opens-friday-april-22.html

Stocks making the biggest moves premarket: American Express, Verizon, Kimberly-Clark and more

These are the stocks posting the largest moves before the bell.

Read more at: https://www.cnbc.com/2022/04/22/stocks-making-the-biggest-moves-premarket-american-express-verizon-kimberly-clark-and-more.html

Singapore is moving closer toward pre-pandemic living

Singapore is set to remove nearly all Covid safety measures from April 26, authorities announced on Friday.

Read more at: https://www.cnbc.com/2022/04/22/singapore-moves-closer-to-pre-pandemic-living-lifts-most-covid-measures.html

Bond/Stock Bloodbath Leads To Worst Start To A Year On Record

Bond/Stock Bloodbath Leads To Worst Start To A Year On RecordUltra-hawkish FedSpeak (from them all) sent rate-hike expectations this week (with 50bps fully priced-in for May, and a 35% chance of a 75bps hike in June now)…

Source: Bloomberg

For bonds and stocks that meant –  STFD!

This is the 3rd week in a row that a ‘balanced’ portfolio of stocks and bonds has been monkeyhammered lower…

Read more at: https://www.zerohedge.com/markets/bondstock-bloodbath-leads-worst-start-year-record

Florida Gov. DeSantis Signs Bill Abolishing Disney’s Self-Governing Status

Florida Gov. DeSantis Signs Bill Abolishing Disney’s Self-Governing StatusUpdate (Friday): Florida Gov. Ron DeSantis signed a new bill Friday afternoon that abolishes special districts created in the state before 1968, including Disney’s Reedy Creek Improvement District.

DeSantis said he would’ve signed this bill three years ago if it had come to his desk, adding if Walt Disney (the founder of Disney) were still around, “he wouldn’t appreciate what’s going on in this company right now.”

🚨BREAKING: Florida @GovRonDeSantis signs a bill into law stripping Disney of its special tax status pic.twitter.com/TNg7DGKxxY

— Benny CNN+ Lifetime Member (@bennyjohnson) April 22, 2022

The new measure will have substantial tax implications for Disney’s theme parks.

* * *

Update (1430ET): Disney shares are tumbling after today’s vote, and amid generalized pressure on the streaming/media space following Netflix’s terrible earnings and the shutdown of CNN+.

Read more at: https://www.zerohedge.com/political/florida-house-passes-bill-dissolve-disneys-special-tax-district-sending-it-desantis-desk

Rockefeller Foundation President Starts Countdown Until All Hell Breaks Loose

Rockefeller Foundation President Starts Countdown Until All Hell Breaks LooseRockefeller Foundation President Rajiv Shah told Bloomberg Television’s David Westin a “massive, immediate food crisis” is on the horizon.

Shah provides what could be a timeline for the next global food crisis that could begin “in the next six months.”

He said global fertilizer supply disruptions caused by the Russian invasion of Ukraine would have an “even worse” impact on the crisis, slashing crop yields worldwide.

Shah said debt relief and emergency aid for emerging market countries are needed to mitigate the effects of the food crisis.

Shah’s appearance on Bloomberg is interesting because of the foundation’s repetitive talk about the need for the global food supply to be reset to a more sustainable one. The foundation has closely aligned views with the World Economic Forum (WEF), advocating for a ‘

Read more at: https://www.zerohedge.com/commodities/rockefeller-foundation-president-starts-countdown-until-all-hell-breaks-loose

Mish: The Technical & Fundamental Case For Buying 10-Year Treasuries Now

Mish: The Technical & Fundamental Case For Buying 10-Year Treasuries NowAuthored by Mike Shedlock via MishTalk.com,

An interesting Tweet came my way yesterday on the technical case for treasuries. Let’s compare the technical case to the fundamentals.

US Treasury Yields from New York Fed, chart by Mish

Chart CommentsAt first, second, and possibly even third glance that chart is a total disaster for long-dated treasury buyers.

At the long end of the curve, bond buyers gain as yields declines. Those buying 3-month or even some mid-term bonds cheer the rise in yields, but those holding 10-year or 30-year bonds have been hammered.

Technical Case

$TNX is printing just about every availabl …

Read more at: https://www.zerohedge.com/markets/mish-technical-fundamental-case-buying-10-year-treasuries-now

Pension fraudsters jailed after £13m scam

Victims have lost a lifetime’s pension savings, telling the BBC they have little hope of retiring.

Read more at: https://www.bbc.co.uk/news/business-61181938?at_medium=RSS&at_campaign=KARANGA

Supermarkets set limits on sale of cooking oil

Tesco joins Waitrose and Morrisons in limiting purchases as supplies are hit by the conflict in Ukraine.

Read more at: https://www.bbc.co.uk/news/business-61193141?at_medium=RSS&at_campaign=KARANGA

Retail sales fall as rising cost of living bites

Consumer spending was hit last month as household finances came under increasing pressure.

Read more at: https://www.bbc.co.uk/news/business-61157856?at_medium=RSS&at_campaign=KARANGA

5 reasons why Netflix stock crashed 40% in 2 days. Should Indian investors log out?

Netflix’s market cap has dropped below the $100 billion mark and is currently the 146th largest company in the world with a total valuation of about $97 billion.

Read more at: https://economictimes.indiatimes.com/markets/stocks/news/5-reasons-why-netflix-stock-crashed-40-in-2-days-should-indian-investors-log-out/articleshow/90999694.cms

Can HCL Technologies’ stock make strong recovery after 3x jump in Q4 profit?

The stock trades at a reasonable valuation of 20 times FY23 and 17 times FY2024 earnings, said Sharekhan. It suggests a revised target of Rs 1,400 for the stock. The target at Thursday’s closing price suggested a 27 per cent potential upside.

Read more at: https://economictimes.indiatimes.com/markets/stocks/news/can-hcl-technologies-stock-make-strong-recovery-after-3x-jump-in-q4-profit/articleshow/90999871.cms

5 emerging trends in the NFT and crypto space to watch out for

With in-game NFT assets being developed by some of the top names in the gaming space, its no wonder GameFi (gaming and finance) is fast getting traction among users and developers alike.

Read more at: https://economictimes.indiatimes.com/markets/cryptocurrency/5-emerging-trends-in-the-nft-and-crypto-space-to-watch-out-for/articleshow/90998915.cms

Earnings Outlook: Amid a storm in tech sector, Google is staying relatively dry and happy

While other tech companies have faced the fury of Wall Street because of a host of issues, Google parent Alphabet Inc. has largely withstood the storm, and analysts believe it will continue to do so when reporting earnings Tuesday.

Read more at: http://www.marketwatch.com/news/story.asp?guid=%7B20C05575-04D4-B545-7BFF-F1B22F8B8A81%7D&siteid=rss&rss=1

Gap stock sinks 18%, heads for lowest close since July 2020

Gap stock plunged on Friday after the company announced that sales would be lower than expected in the first quarter and the Old Navy CEO is stepping down

Read more at: http://www.marketwatch.com/news/story.asp?guid=%7B20C05575-04D4-B545-7C4A-D48CBF16E179%7D&siteid=rss&rss=1

The Margin: Disney’s ‘Doctor Strange’ film banned in Saudi Arabia over inclusion of a gay character, report says

The film features the character America Chavez, a lesbian hero who first appeared in Marvel Comics in 2011.

Read more at: http://www.marketwatch.com/news/story.asp?guid=%7B20C05575-04D4-B545-7C48-95F1E5E1EF3A%7D&siteid=rss&rss=1