26Apr2022 Market Close & Major Financial Headlines: Nasdaq Retreats to New 2022 Low

The West Is Becoming More Competitive In The Battery Boom

The worlds supply of advanced batteries, critical for electric cars, could be shifting West, say, analysts, as production grinds to a halt in Asia. Chinas most recent Covid-19 lockdowns have chipped away at the countrys dominance in the battery market, analysts at independent energy researcher Rystad Energy, Susan Zou and Abhishek Murali, explained. Businesses have been battling with a choked supply since the pandemic began, which has prompted the likes of Tesla and the U.S. and Canadian governments to dish out

Read more at: https://oilprice.com/Energy/Energy-General/The-West-Is-Becoming-More-Competitive-In-The-Battery-Boom.html

Germany Could Ban Russian Oil In Days

Germany has already cut Russian oil imports by over 20%, with officials now spreading optimism that it could be only a matter of days before the country is capable of a total embargo on Russian oil. German Economy Minister Robert Habeck said Tuesday that a full embargo is manageable and that the country hoped to find a replacement for Russian oil within days. According to Habeck, Germany is now very, very close to making a full Russian oil embargo a reality. So far, Germany has dropped Russian oil imports

Read more at: https://oilprice.com/Latest-Energy-News/World-News/Germany-Could-Ban-Russian-Oil-In-Days.html

Kazakhstan’s Crucial CPC Pipeline Is Back Online

A pipeline that Kazakhstan uses to export most of its oil began operating at full capacity over the weekend, one month after key offloading infrastructure was allegedly damaged in a storm. The Caspian Pipeline Consortium, or CPC, said in a statement on April 25 that it had restored a buoy mooring device used for loading oil at Russias Novorossiysk terminal to working order after divers were able to take advantage of a short-term improvement in the weather. At present, the Delta Commander tanker is connected to [mooring

Read more at: https://oilprice.com/Latest-Energy-News/World-News/Kazakhstans-Crucial-CPC-Pipeline-Is-Back-Online.html

Uncertainty Leaves Oil Prices Stuck At $100

Reader Update: Whether you are new to the oil and gas industry or an energy market veteran, you will regret not signing up for Global Energy Alert. Oilprice.com’s premium newsletter provides everything from geopolitical analysis to trading analysis, and all for less than a cup of coffee per week. Chart of the Week- Depressed by draconian lockdowns that might be extended well into May, Chinese refinery runs are set to reach a post-pandemic low this month. According to S&P Platts, throughput rates at the country’s four state-owned

Read more at: https://oilprice.com/Energy/Energy-General/Uncertainty-Leaves-Oil-Prices-Stuck-At-100.html

Can Colombia’s Offshore Oil Potential Rival That Of Brazil?

The strife-torn Latin American nation of Colombia punches well above its weight when it comes to petroleum production. The Andean country is the regions third-largest oil producer, even after experiencing a significant deterioration in industrial productivity since the COVID-19 pandemic arrived, despite only having proven oil reserves of 1.8 billion barrels. Colombia has not had any major oil discoveries in over a decade, placing ever greater pressure on the countrys scant reserves and its soil-dependent economy. A solution planned

Read more at: https://oilprice.com/Energy/Crude-Oil/Can-Colombias-Offshore-Oil-Potential-Rival-That-Of-Brazil.html

Steel Demand Is Dwindling As China Grapples With New Lockdowns

Steel prices for hot-rolled coil in Europe have started to decline as end-users push back from earlier offers. Meanwhile, benchmark iron ore prices in China dropped, due to the countrys zero-Covid policy. One analyst noted that steelmakers in Europe are cutting back their production. Steel would get a bit of support from production cuts crude was down 6.8% in Q1 year on year, one analyst told MetalMiner, referring to the World Steel Associations (Worldsteel) global numbers. Global crude production for the first

Read more at: https://oilprice.com/Latest-Energy-News/World-News/Steel-Demand-Is-Dwindling-As-China-Grapples-With-New-Lockdowns.html

Chipotle Mexican Grill is about to report earnings. Here’s what to expect

Over the last week, Chipotle shares have fallen 11% giving the company a market value of $40.4 billion.

Read more at: https://www.cnbc.com/2022/04/26/chipotle-mexican-grill-cmg-q1-2022-earnings.html

General Motors earnings are out – here are the numbers

General Motors reported earnings after the bell. Here are the results.

Read more at: https://www.cnbc.com/2022/04/26/general-motors-gm-earnings-q1-2022.html

Same-day theatrical and streaming releases are dead as a business model, movie theater group CEO says

CinemaCon kicked off Tuesday with NATO’s president and CEO John Fithian declaring the death of day-and-date theatrical and streaming releases.

Read more at: https://www.cnbc.com/2022/04/26/same-day-theatrical-and-streaming-releases-are-dead-says-natos-john-fithian.html

Republican Rep. Madison Cawthorn cited for bringing loaded gun to North Carolina airport

Republican Rep. Madison Cawthorn of North Carolina was cited for bringing a loaded handgun to an international airport.

Read more at: https://www.cnbc.com/2022/04/26/gop-rep-madison-cawthorn-brought-gun-to-north-carolina-airport.html

Ford CEO says the company plans to challenge Tesla as global EV leader

Ford has already built about 2,000 F-150 Lightnings — not far off Rivian’s total first-quarter EV production.

Read more at: https://www.cnbc.com/2022/04/26/ford-ceo-farley-plans-to-challenge-tesla-to-become-the-top-ev-maker.html

FAA calls meeting with airlines to discuss flight disruptions in Florida as travel booms

More than 9,000 flights were delayed or canceled earlier this month.

Read more at: https://www.cnbc.com/2022/04/26/faa-airlines-to-meet-on-florida-flight-disruptions-as-travel-booms.html

Biden blocks sales of inefficient lightbulbs, reversing Trump-era policy

The Energy Department said its new energy-efficiency standards will save consumers $3 billion each year in utility costs.

Read more at: https://www.cnbc.com/2022/04/26/biden-blocks-sales-of-inefficient-lightbulbs-reversing-trump-policy-.html

Finally heading back to the office? How to buy new work clothes on a budget

Fashion bloggers share tips on how to prepare for the return to work without overspending.

Read more at: https://www.cnbc.com/2022/04/26/as-office-hours-return-how-to-buy-new-work-clothes-on-a-budget-.html

At least 58% of U.S. population has natural antibodies from previous Covid infection, CDC says

Roughly 58% of people in the U.S. now have antibodies from previous Covid infection, demonstrating how widespread the virus was during the winter omicron surge.

Read more at: https://www.cnbc.com/2022/04/26/at-least-58percent-of-us-population-has-natural-antibodies-from-previous-covid-infection-cdc-says.html

JetBlue shares slump after airline drastically cuts 2022 growth plans

JetBlue has faced a host of delays in April due to bad weather in Florida.

Read more at: https://www.cnbc.com/2022/04/26/jetblue-shares-fall-after-airline-cuts-2022-growth-plans.html

These are the best and worst U.S. places to die, report shows

Many older Americans weigh the cost of living or weather when picking a place to retire, but some don’t consider their end-of-life experience.

Read more at: https://www.cnbc.com/2022/04/26/these-are-the-best-and-worst-us-places-to-die-report-shows.html

Scientists shed new light on how early stage breast cancer spreads to other organs

A team of scientists led by Mt. Sinai in New York City shed new light on how pre-malignant cells can spread from early breast cancer to other parts of the body.

Read more at: https://www.cnbc.com/2022/04/26/scientists-shed-new-light-on-how-early-stage-breast-cancer-spreads-to-other-organs.html

At least a dozen U.S. universities reinstate mask mandates as Covid cases rise

Universities are responding to rising Covid cases by reinstating mask mandates, even as most of the country loosens public health restrictions.

Read more at: https://www.cnbc.com/2022/04/26/covid-cases-us-universities-reinstate-mask-mandates.html

Pukefest!

Pukefest!As Elon Musk made yet more headlines today – by doing nothing today apart from tweeting this…

The extreme antibody reaction from those who fear free speech says it all

— Elon Musk (@elonmusk) April 26, 2022

It appears someone decided he needed to be punished for daring to preserve free speech (oh the horror!) as TSLA shares tumbled over 11% today, raising questions from many on who was behind this move…

As Trey Henninger (@TreyHenninger) detailed, “If $TSLA stock hits $570, Elon Musk will be margin called on his Twitter purchase loan. If that occurs, he’ll have two business days to either pay the entire $12.5 billion margin loan, post $3.57 billion USD in CASH, or sell his $TSLAQ collateral shares. So, Soros has to short TSLA to 570 to kill the deal.”

…

Read more at: https://www.zerohedge.com/markets/bonds-surged-bitcoin-purged-tesla-tanked-tech-stocks

Poland Confirms Russia To Halt All Gas Delivery Wednesday If Payment Not Settled In Rubles

Poland Confirms Russia To Halt All Gas Delivery Wednesday If Payment Not Settled In RublesUpdate(1550ET): The International Energy Agency (IEA) issued a statement of solidarity with Poland as Russia is poised to suspend all natural gas supplies to the country over Warsaw’s refusal to settle payments in Rubles, as President Putin previously demanded of “unfriendly countries” taking anti-Kremlin action amid the Ukraine conflict.

“Gazprom’s move to completely shut off gas supplies to Poland is yet another sign of Russia’s politicization of existing agreements and will only accelerate European efforts to move away from Russian energy supplies,” IEA executive director Fatih Birol said in a statement posted to social media.

This following on the heels of Polish Climate Minister Anna Moskwa, who oversees coordination of the country’s energy needs and response to changing conditions, asserting that Poland is well prepared for such a scenario of Russia cutting off the taps…

“Poland has the necessary gas reserves and sources of supply that protect our security – we have been effectively independent from Russia for years. Our warehouses are 76% full. There will be no shortage of gas in Polish homes,” she stressed. Meanwhile Gazprom has confirmed that by tomorrow the supplies will be halted, after already the Yamal-Europe pipeline reportedly stopped delivering, and also this…

GAZPROM TO HALT GAS SUPPLIES THROUGH BULGARIA APR 27: MINISTRY

Read more at: https://www.zerohedge.com/energy/russia-halts-natural-gas-supplies-poland-european-energy-prices-spike-local-reports

“Meltdown”: Bank Of America Sounding The Alarm On Collapsing Freight Demand

“Meltdown”: Bank Of America Sounding The Alarm On Collapsing Freight DemandTrucking demand is “near freight recession levels,” according to Bank of America. Shippers’ outlook on rates, capacity and inventory levels are matching attitudes not seen since May and June 2020, when pandemic lockdowns sent freight volumes into a historic decline.

As FreightWaves reports, in a Friday note to investors, Ken Hoexter (available to Zero Hedge professional subscribers), the managing director of Bank of America’s trucking research, wrote that shippers’ view of demand is down 23% year-over-year. The proprietary Truckload Demand Indicator hit 58 — the lowest since June 2020.

Read more at: https://www.zerohedge.com/markets/meltdown-bank-america-sounding-alarm-collapsing-freight-demand

Can Musk Buy Facebook Too?

Can Musk Buy Facebook Too?Op-Ed authored by Roger L. Simon via The Epoch Times,

Two and a half cheers for Elon Musk!

He has, after some back and forth, just bought Twitter, easily the greatest achievement anyone has accomplished in years for the First Amendment and freedom of speech.

If he follows through on his pledge to end censorship at the site, he has struck a blow, possibly even a fatal one, on the evil billionaires—we all know who they are—that control virtually the entire global information flow to all the continents and all the ships at sea for their own advantage.

These billionaire owners of social media sites have been more successful in their censorship and thought control, at least by the numbers, than any dictators in history. (Population of China: 1.4 billion. Number with Facebook accounts: 2.9 billion.)

So why only two and a half cheers for Musk?

Well, there is that matter of the Tesla factory in communist China with—it’s rumored—much of the company’s future research to be conducted there. That would presumably include Space X, with vast military implications. Once the enemy of the totalitarians in Beijing, Musk has, alas, folded in with them.

But still, give the man his due. Becoming an international hero of freedom may encourage him to go further yet. Some of his openness may even permeate China—not likely, but who knows?

Musk has charisma to spare.

I may even have to buy one of his cars, even though—cool as its technology may be, especially if it ultimately allows the veh …

Read more at: https://www.zerohedge.com/political/can-musk-buy-facebook-too

Russia to halt gas supplies to Poland and Bulgaria

It comes after Moscow said “unfriendly” countries must start paying for gas in roubles.

Read more at: https://www.bbc.co.uk/news/business-61237519?at_medium=RSS&at_campaign=KARANGA

Four ways Elon Musk might change Twitter

After the billionaire struck a deal to buy the site, speculation has begun over what the future holds.

Read more at: https://www.bbc.co.uk/news/business-61226282?at_medium=RSS&at_campaign=KARANGA

New Brexit rules caused major shock to UK-EU trade – report

A new study found that imports from the EU fell by 25% relative to those from elsewhere.

Read more at: https://www.bbc.co.uk/news/business-61237225?at_medium=RSS&at_campaign=KARANGA

Bajaj Auto Q4 Preview: PAT may drop 22-26%, margins to suffer due to raw material inflation

Analysts tracking the company expect it to report a 22-26 per cent YoY drop in net profits, while its sales may decline 10-12 per cent, they added. Margins may also see a decline.

Read more at: https://economictimes.indiatimes.com/markets/stocks/earnings/bajaj-auto-q4-preview-pat-may-drop-22-26-margins-to-suffer-due-to-raw-material-inflation/articleshow/91107890.cms

Rainbow Children’s Medicare IPO opens Wednesday; should you subscribe?

The company will raise Rs 1,581 crore through its initial stake sale. The company will issue fresh equity shares worth Rs 280 crore and existing shareholders and promoters will offload 2.4 crore equity shares from their stake through OFS.

Read more at: https://economictimes.indiatimes.com/markets/ipos/fpos/rainbow-childrens-medicare-ipo-analysts-sceptical-but-can-it-be-a-long-term-investment/articleshow/91097207.cms

Tech View: Nifty50 bulls take out 17,200, eye 17,450 hurdle ahead

​​Analysts see tough resistance ahead. They feel that failure to take out 17,400-450 levels could bring selling pressure to the index. Support seen at 17,050 level, they said.

Read more at: https://economictimes.indiatimes.com/markets/stocks/news/tech-view-nifty50-bulls-take-out-17200-eye-17450-hurdle-ahead/articleshow/91101235.cms

Key Words: ‘We’re dancing on the Titanic,’ observes stock-trading legend Thomas Peterffy, as Russia’s Lavrov warns against underestimating nuclear-war risk

Thomas Peterffy has some advice for investors and traders amid stomach-churning times and a decidedly downward tilt for equities: focus on the long game.

Read more at: http://www.marketwatch.com/news/story.asp?guid=%7B20C05575-04D4-B545-7C62-C401F7980825%7D&siteid=rss&rss=1

Living With Climate Change: Biden says all light bulbs have to be more efficient — here’s how LED can save hundreds of dollars over a bulb’s lifetime

All light bulbs, even the iconic pear-shaped option, will have to meet new efficiency standards because of long-delayed federal rules finalized Tuesday.

Read more at: http://www.marketwatch.com/news/story.asp?guid=%7B20C05575-04D4-B545-7C66-FD2D7562B8F9%7D&siteid=rss&rss=1

The MarketWatch Q&A: ‘Schitt’s Creek’ star Noah Reid wishes he got on the crypto train earlier

The Canadian actor making his Broadway debut in ‘The Minutes’ shares his best and worst financial decisions, what he hates spending money on, and what’s next.

Read more at: http://www.marketwatch.com/news/story.asp?guid=%7B20C05575-04D4-B545-7C65-49914A63D987%7D&siteid=rss&rss=1