28Apr2022 Market Close & Major Financial Headlines: Market’s Improve As GDP Edges Into Recession Territory

Moldova Fears Russia Is Looking To Expand Its War Beyond Ukraine

A series of alleged attacks inside Transdniester, a breakaway region of Moldova, has triggered a stream of people to leave and deepened fears that Russia is bent on expanding its war beyond Ukraine. Kyiv has blamed Moscow for masterminding the attacks that included explosions which damaged two radio broadcast towers and a building housing separatist offices in Tiraspol, the unrecognized capital of Transdniester, which broke away from Moldova in the early 1990s following a brief war. Moldova’s response was more cautious.

Read more at: https://oilprice.com/Geopolitics/International/Moldova-Fears-Russia-Is-Looking-To-Expand-Its-War-Beyond-Ukraine.html

Is China Finally Distancing Itself From Russia?

While Russian President Vladimir Putin is claiming that sanctions have failed to undermine the country’s economy, international finance agencies and even Putin’s own officials say otherwise, while Beijingthe Kremlins main economic ally is holding back. we can already confidently say that such a policy towards Russia has failed, the strategy of economic blitzkrieg has failed, Putin said at a meeting with government ministers, stressing that retail demand had normalized and unemployment

Read more at: https://oilprice.com/Geopolitics/International/Is-China-Finally-Distancing-Itself-From-Russia.html

TotalEnergies Looks To Divest Nigerian Asset, Joining Big Oil Exodus

Frances supermajor TotalEnergies plans to sell its minority stake in an onshore oil-producing joint venture in Nigeria in what will be the latest divestment of Nigerian oil assets by an international major. TotalEnergies will put up for sale its 10-percent interest in a company operating 20 licenses onshore Nigeria and in shallow waters, the French firms chief executive Patrick Pouyann said at an earnings conference call on Thursday. Disruption of local communities are sources of great concerns, Pouyann

Read more at: https://oilprice.com/Latest-Energy-News/World-News/TotalEnergies-Looks-To-Divest-Nigerian-Asset-Joining-Big-Oil-Exodus.html

Iran Boosts Oil Exports As Its Key Buyer China Cuts Russian Purchases

Iran’s oil exports jumped by 30 percent from last year to 870,000 barrels per day (bpd) in the first quarter of 2022, The Wall Street Journal reported on Thursday, citing data from commodity data provider Kpler, as the main Iranian crude buyer, China, is cutting back on imports of Russian oil. The jump in Irans oil exports in Q1 was the fastest among all producers in the Middle East, while the volume of exports is estimated to be the highest since former U.S. President Donald Trump withdrew from the so-called Iranian nuclear deal in

Read more at: https://oilprice.com/Latest-Energy-News/World-News/Iran-Boosts-Oil-Exports-As-Its-Key-Buyer-China-Cuts-Russian-Purchases.html

Turkey Tries To Remain Neutral As Russia’s War Persists

Turkey has proven adept at maintaining neutrality in regards to the conflict between Russia and Ukraine. While Ankara has condemned Russia’s special military operation, it has also declined to follow the lead of its NATO allies in supporting US-led sanctions on Moscow. According to local experts, its reasons for doing so are both economic and political, and reflect Turkeys varied approach to its relations with Russia. Turkey is a neighbor to both countries, with whom it has intense economic relations, Halil

Read more at: https://oilprice.com/Geopolitics/International/Turkey-Tries-To-Remain-Neutral-As-Russias-War-Persists.html

Total Takes $4 Billion Hit From Arctic LNG Project

French energy giant TotalEnergies (Total) has taken a $4.1 billion hit following it withdrawal from a Russian liquiefied natural gas (LNG) project in the Arctic. It revealed the impairment losses in its first quarter trading results for the first three months of the year. This follows the company announcing last month it would no longer book proven reserves from the Arctic LNG 2 porject, following uncertainty over technological and financial sanctions imposed on Russia by the West. The company explained: Since then, on April 8th, new sanctions

Read more at: https://oilprice.com/Latest-Energy-News/World-News/Total-Takes-4-Billion-Hit-From-Arctic-LNG-Project.html

Elon Musk will be the most indebted CEO in America if the Twitter deal goes through

Because Musk’s wealth is largely tied up in Tesla stock, he will have to sell millions of his shares and pledge millions more to raise the necessary cash.

Read more at: https://www.cnbc.com/2022/04/28/elon-musk-will-be-most-indebted-ceo-in-america-if-twitter-deal-closes.html

How Headspace Health is tackling the global mental health crisis

Mindfulness app Headspace surged during the pandemic, and it is among the digital mental health start-ups hoping to scale a global business amid high demand.

Read more at: https://www.cnbc.com/2022/04/28/how-headspace-health-is-tackling-the-global-mental-health-crisis.html

Severe hepatitis outbreak in healthy kids possibly linked to adenovirus infection, WHO officials say

The WHO and CDC believe the outbreak might be linked to adenovirus, though investigations are continuing.

Read more at: https://www.cnbc.com/2022/04/28/hepatitis-outbreak-in-kids-may-be-linked-to-adenovirus-who-says.html

Climate change will drive new transmission of 4,000 viruses between mammals by 2070

A new study published in the journal Nature finds global warming will drive increased new viral transmission between mammals, including potentially humans.

Read more at: https://www.cnbc.com/2022/04/28/climate-change-will-drive-new-transmission-of-4000-viruses-by-2070.html

Sixteen states sue the Postal Service over plan to buy gas-powered vehicles

The lawsuits allege the Postal Service’s environmental analysis to justify spending up to $11.3 billion on gas-powered delivery trucks was deeply flawed.

Read more at: https://www.cnbc.com/2022/04/28/sixteen-states-sue-postal-service-over-plan-to-buy-gas-vehicles.html

Stocks making the biggest moves midday: Meta, McDonald’s, Teladoc, Ford and more

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

Read more at: https://www.cnbc.com/2022/04/28/stocks-making-the-biggest-moves-midday-meta-mcdonalds-teladoc-ford-and-more.html

McDonald’s closures in Russia cost the fast-food giant $127 million in Q1 — here’s what it could mean for the country

McDonald’s last month announced it would be temporarily closing all 850 of its locations in Russia.

Read more at: https://www.cnbc.com/2022/04/28/what-mcdonalds-closures-in-russia-could-mean-for-the-country.html

Brooklyn Nets’ playoff flops have created business concerns for the heavily hyped NBA franchise

The Brooklyn Nets were supposed to be a superteam. After two playoff failures, they’re shaping up to be a cautionary sports business tale.

Read more at: https://www.cnbc.com/2022/04/28/nba-brooklyn-nets-dysfunction-weighs-on-business-prospects.html

Powerball’s $473.1 million jackpot has a winner. Here’s the tax bill

Regardless of whether the winner chooses an annuity over time or as a reduced cash amount, federal and state taxes will take a big bite out of the windfall.

Read more at: https://www.cnbc.com/2022/04/28/powerballs-473point1-million-jackpot-has-a-winner-heres-the-tax-bill.html

What Ford, a 9-to-5 workweek pioneer, is learning about the hybrid office

Ford, one of the early adopters of the 40-hour workweek, has embraced hybrid work as it brings employees back to its offices.

Read more at: https://www.cnbc.com/2022/04/28/what-ford-a-9-to-5-workweek-pioneer-is-learning-about-hybrid-work.html

1-800-Flowers shares sink as retailer cuts outlook over waning consumer demand

CEO Chris McCann said that solid demand around Valentine’s Day was offset by “overall slower consumer demand for everyday gifting occasions.”

Read more at: https://www.cnbc.com/2022/04/28/1-800-flowers-flws-reports-fiscal-q3-2022-results.html

5 things to know before the stock market opens Thursday

Nasdaq futures bounced nearly 2% on Thursday. Dow and S&P 500 futures were also higher.

Read more at: https://www.cnbc.com/2022/04/28/5-things-to-know-before-the-stock-market-opens-thursday-april-28.html

Stocks making the biggest moves premarket: Meta, Teladoc, Pinterest, Qualcomm and more

These are the stocks posting the largest moves in Thursday premarket trading.

Read more at: https://www.cnbc.com/2022/04/28/stocks-making-the-biggest-moves-premarket-meta-teladoc-pinterest-qualcomm-and-more-.html

“WTF Was That!” – Stocks Explode Higher As US Economy Heads Into Recession

“WTF Was That!” – Stocks Explode Higher As US Economy Heads Into RecessionFollowing the first real signs of a US recession (with a shocking negative print for Q1 GDP)…

Source: Bloomberg

…dip-buyers got the all-clear as soon as Europe closed, the short-squeeze began with “Most Shorted” stocks soaring almost 6% off the lows…

Source: Bloomberg

The ammo for a massive squeeze is all there …

Read more at: https://www.zerohedge.com/markets/wtf-was-stocks-explode-higher-us-economy-heads-recession

Is President Biden OK?

Is President Biden OK?Presented with no comment…

omg is he ok???pic.twitter.com/6zzdJomFHw

— Abigail Marone 🇺🇸 (@abigailmarone) April 28, 2022

Omg I don’t know if I should laugh or cry watching this

— Anthony (@Wingshater21) April 28, 2022

Tyler Durden Thu, 04/28/2022 – 15:53

Read more at: https://www.zerohedge.com/political/president-biden-ok

The Defense Production Act Cannot Increase Critical Mineral Production Without Streamlining Project Permitting

The Defense Production Act Cannot Increase Critical Mineral Production Without Streamlining Project PermittingAuthored by Debra W. Struhsacker via RealClear Energy,

President Biden’s recent decision to use the Defense Production Act to increase domestic production of critical minerals is an empty gesture unless his administration removes the permitting roadblocks that delay critical minerals projects.

(AP Photo/Evan Vucci)The administration is sending mixed signals about whether it is really serious about extracting critical minerals from U.S. mines. On the same day that the president made his Defense Production Act announcement, the Department of the Interior published a Federal Register notice to begin a process to change mining laws and regulations in ways that could make it harder and more expensive to develop critical minerals and put lands off-limits to mining.

…

Read more at: https://www.zerohedge.com/energy/defense-production-act-cannot-increase-critical-mineral-production-without-streamlining

‘Libs Of TikTok’ WaPo-Dox Backfires After Account Gains 500,000 New Followers In One Week

‘Libs Of TikTok’ WaPo-Dox Backfires After Account Gains 500,000 New Followers In One WeekLibs of TikTok – a Twitter account which aggregates videos posted on TikTok by deranged leftists – has gained over 500,000 new followers in the week since the Washington Post published a hit-piece against the owner of the account.

As part of the smear campaign, WaPo ‘journalist’ Taylor Lorenz doxxed the woman who runs it – while innocent people who share the same name as the account owner were harassed for days.

The account first made national headlines on April 14 after Twitter suspended it for 12 hours, citing “hateful conduct.” That alone caused a jump in followers from 602,000 followers that Tuesday, to 630,000 by Saturday.

48 hours later, WaPo put out their hit piece – accusing L …

Read more at: https://www.zerohedge.com/political/libs-toiktok-wapo-dox-backfires-after-account-gains-500000-new-followers-one-week

German energy firm Uniper ready to meet Russian pay demand

Uniper is preparing to buy Russian gas using a payment system that critics say will undermine EU sanctions.

Read more at: https://www.bbc.co.uk/news/business-61257846?at_medium=RSS&at_campaign=KARANGA

Brexit import checks delayed for fourth time

New post-Brexit controls, due in July, are postponed amid rising inflation and supply chain disruption.

Read more at: https://www.bbc.co.uk/news/business-61259832?at_medium=RSS&at_campaign=KARANGA

US economy contracts as Ukraine war hits trade

The economy shrank in the first three months of the year, figures show, its first contraction since 2020.

Read more at: https://www.bbc.co.uk/news/business-61254160?at_medium=RSS&at_campaign=KARANGA

UltraTech Cement Q4 Preview: Profit may fall in double digits, sales growth above 10%

Nomura India said it sees a 1 per cent YoY decline in India operations cement volume on a high base. It sees blended realisation for the cement maker to decline 1 per cent QoQ and standalone blended Ebitda per tonne of Rs 1,053, down 20 per cent YoY.

Read more at: https://economictimes.indiatimes.com/markets/stocks/earnings/ultratech-cement-q4-preview-profit-may-fall-in-double-digits-sales-growth-above-10/articleshow/91155947.cms

Wipro Q4 Preview: Profit rise seen as flattish; June revenue growth guidance likely at 2-4%

Domestic brokerage Kotak Institutional Equities (KIE) said Wipro is likely to post Q4FY22 revenue at Rs 21,001.3 crore, up 28.6 per cent year-on-year (YoY), powered by continued strength in discretionary spending and success in the mining of large accounts.

Read more at: https://economictimes.indiatimes.com/markets/stocks/earnings/wipro-q4-preview-profit-rise-seen-as-flattish-june-revenue-growth-guidance-likely-at-2-4/articleshow/91158104.cms

Wondering where the economy is headed? Brace for higher inflation, fiscal risks

Providing a snapshot of how key macro-economic variables may play out in coming months, Nomura predicts higher inflation, higher terminal rates and fiscal risks on the horizon.

Read more at: https://economictimes.indiatimes.com/markets/stocks/news/wondering-where-the-economy-is-headed-brace-for-higher-inflation-fiscal-risks/articleshow/91155196.cms

Is Netflix cracking down on password sharing? Here’s what you need to know if you share an account

Netflix executives have proposed charging for password sharing. They estimate 100 million people use shared login information to watch the streaming service.

Read more at: http://www.marketwatch.com/news/story.asp?guid=%7B20C05575-04D4-B545-7C3E-EA476F3D19E3%7D&siteid=rss&rss=1

With Elon Musk’s Twitter bid, there’s more at stake than freedom of speech: ‘It gives him a lot more influence over governments’

‘This is essentially a giant referendum about what the future of America’s democratic society looks like,’ says a communications professor.

Read more at: http://www.marketwatch.com/news/story.asp?guid=%7B20C05575-04D4-B545-7C6D-9A3D2247C396%7D&siteid=rss&rss=1

Who is the richest person in the world? Jeff Bezos no longer owns the top spot.

The total wealth of billionaires fell to $12.7 trillion this year, down from a record $13.1 trillion in 2021.

Read more at: http://www.marketwatch.com/news/story.asp?guid=%7B20C05575-04D4-B545-7B95-74863E29E11C%7D&siteid=rss&rss=1