27June2022 Market Close & Major Financial Headlines: Wall Street’s Major Indexes See-Sawed Across The Unchanged Line Ultimately Ending Moderately Down In The Red As Rebound Fails

Oil And Gas Employment Is On The Rise, But Uncertainty Remains

Employees worldwide are receiving mixed information about the outlook of oil and gas jobs as some experts believe the current geopolitical situation will drive employment figures up while we’re also seeing jobs being cut. With an eventual green transition looking inevitable, many are worried about their jobs, but as the OPEC and other countries boost their oil output, will we see growth in the oil and gas job market before the eventual decline? The pandemic led to hundreds of thousands of oil and gas jobs being cut worldwide, as demand for

Read more at: https://oilprice.com/Energy/Energy-General/Oil-And-Gas-Employment-Is-On-The-Rise-But-Uncertainty-Remains.html

Russia Looks To Lure Asian Buyers With Higher Quality Crude

Russia has improved the quality of its flagship Urals crude grade in the past two months, making it lighter and sweeter, and even more attractive for buyers in Asia who aren’t shunning Russian oil, Reuters reported on Monday, citing data obtained by industry sources. The Urals was a key grade for export from Russian ports on the Baltic Sea and the Black Sea, and a lot of the volumes were going to Europe before the Russian invasion of Ukraine. Now Russia’s oil exports are geared toward China and India, as Western buyers

Read more at: https://oilprice.com/Latest-Energy-News/World-News/Russia-Looks-To-Lure-Asian-Buyers-With-Higher-Quality-Crude.html

G7 Announces $600 Billion Infrastructure Plan To Rival Chinas Belt And Road

President Biden and G7 leaders pledged $600bln to a new global infrastructure project for emerging market economies to counter the Chinese regime’s Belt and Road initiative. G-7 leaders from the US, Canada, Germany, Italy, Japan, and the European Union gathered at a summit in Bavaria, Germany, on Sunday and unveiled the Partnership for Global Infrastructure and Investment (PGII) that will “will deliver game-changing projects to close the infrastructure gap in developing countries, strengthen the global economy and supply chains, and advance

Read more at: https://oilprice.com/Geopolitics/International/G7-Announces-600-Billion-Infrastructure-Plan-To-Rival-Chinas-Belt-And-Road.html

The Steel Market Is In Chaos As Demand Uncertainty Grows

Last Month, MetalMiner reported that stainless steel costs had been holding strong amid high demand and increased production. However, we did identify some cracks in what might otherwise look like a solid recovery. As we transition from Q2 to Q3, some of those cracks have grown significantly. Low Demand in China Affecting Stainless Steel Cost According to a recent report from the Shanghai Metals Market, prices are seeing a downward pull due to low demand. Though mills are optimistic that Q3 will bring more orders, warrants remain down thus far. As

Read more at: https://oilprice.com/Latest-Energy-News/World-News/The-Steel-Market-Is-In-Chaos-As-Demand-Uncertainty-Grows.html

Russia Defaults On Foreign Debt For The First Time In 104 Years

Russia has defaulted on its foreign debt obligations for the first time since the Bolshevik revolution in 1918. Sanctions launched by an alliance of western nations in response to president Vladimir Putin’s invasion of Ukraine have hobbled the Kremlin’s access to its assets, meaning it has been unable to pay foreign investors. Moscow missed a grace period deadline today on a $100m interest payment that was originally due on 27 May, tipping the country into default for the first time in over a century. A US official said at today’s

Read more at: https://oilprice.com/Geopolitics/International/Russia-Defaults-On-Foreign-Debt-For-The-First-Time-In-104-Years.html

A Bidding War Has Begun In The UKs Struggling Energy Sector

The bidding process for the UKs seventh biggest energy firm has narrowed down to two suppliers, amid reports British Gas owner Centrica has opted against a final offer for the collapsed supplier. City A.M. understands from industry sources two energy firms remain in the running to acquire Bulb Energy (Bulb) and its 1.5m customers, Octopus Energy (Octopus) and Masdar Energy (Masdar). There is also the possibility the two suppliers could present a joint offer for Bulb, as first reported in The Financial Times, with Masdar providing funds and

Read more at: https://oilprice.com/Latest-Energy-News/World-News/A-Bidding-War-Has-Begun-In-The-UKs-Struggling-Energy-Sector.html

Trump SPAC deal threatened by federal criminal probe

A federal criminal investigation is threatening the proposed merger between former President Donald Trump’s social media enterprise and a SPAC.

Read more at: https://www.cnbc.com/2022/06/27/trump-spac-deal-threatened-by-federal-criminal-probe.html

Pending home sales post surprise increase in May, likely due to brief pullback in mortgage rates

Pending home sales, a measure of signed contracts on existing homes, rose slightly in May, up 0.7% compared with April.

Read more at: https://www.cnbc.com/2022/06/27/pending-home-sales-post-surprise-increase-in-may.html

Roe v. Wade’s demise forces companies to grapple with health care plans, employee privacy and more

The Supreme Court abortion decision will have far-reaching implications in the corporate world.

Read more at: https://www.cnbc.com/2022/06/24/roe-v-wade-abortion-decision-companies-forced-to-weigh-in-on-privacy-health-care.html

Stocks making the biggest moves midday: Coinbase, Spirit Airlines, Robinhood and more

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

Read more at: https://www.cnbc.com/2022/06/27/stocks-making-the-biggest-moves-midday-coinbase-spirit-airlines-robinhood-and-more.html

Women in states that ban abortion will still be able to get abortion pills online from overseas

Many women in states with bans on abortion will likely turn to websites to order mifepristone and self-manage abortions at home.

Read more at: https://www.cnbc.com/2022/06/27/women-in-states-that-ban-abortion-will-still-be-able-to-get-abortion-pills-online-from-overseas.html

There’s a growing interest in direct indexing as the investing trend becomes ‘democratized’

There’s a growing interest in direct indexing to achieve goals like tax efficiency, diversification and values-based investing.

Read more at: https://www.cnbc.com/2022/06/27/direct-indexing-becomes-democratized-as-fees-account-minimums-drop.html

Disney, Apple, and Amazon keep waiting as NFL considers Sunday Ticket offers

The NFL must choose between offers for Sunday Ticket as streamers wait for a decision.

Read more at: https://www.cnbc.com/2022/06/24/disney-apple-and-amazon-keep-waiting-as-nfl-considers-sunday-ticket-offers.html

Airlines, FAA spar over flight delays as crucial Fourth of July weekend approaches

Airlines and the Federal Aviation Administration are pointing the finger at each other over a rising rate of flight cancellations and delays.

Read more at: https://www.cnbc.com/2022/06/24/airlines-faa-spar-over-flight-delays-ahead-of-july-fourth.html

United Airlines pilots to get raises of more than 14%, 8 weeks of maternity leave in new contract

United is the first of the major U.S. airlines to reach a contract agreement with a pilot’s labor union.

Read more at: https://www.cnbc.com/2022/06/24/united-airlines-pilots-to-get-raises-of-more-than-14percent-in-new-contract.html

Disney tells employees it will provide ‘comprehensive access’ for reproductive care

Disney told employees it will help pay for pregnancy-related care if they have to travel to a different state after the Supreme Court’s Roe v. Wade decision.

Read more at: https://www.cnbc.com/2022/06/24/roe-v-wade-decision-disney-sends-memo-to-employees.html

Juul asks court for temporary block on FDA’s ban of its e-cigarettes

Juul asked a federal appeals court on Friday for a temporary block on the Food and Drug Administration’s ban of its e-cigarettes.

Read more at: https://www.cnbc.com/2022/06/24/juul-asks-court-for-temporary-block-on-fdas-ban-of-its-e-cigarettes.html

‘Good News’ Sends Stocks & Bonds Lower; Oil & Gas Prices Soar

‘Good News’ Sends Stocks & Bonds Lower; Oil & Gas Prices SoarAnd just like that the narrative flipped back from a ‘growth scare’ to ‘inflation fears’ as Pending Home Sales beat (but that was for May when mortgage rates down-ticked modestly before spiking in June), Durable Goods Orders beat (again this was for May and since then we have seen regional Fed sentiment indicators collapse in June)… all of which up-ticked the Macro Surprise Index by the most since April (admittedly off a very weak, low base)…

Source: Bloomberg

Don’t get too excited though as Dallas Fed’s Manufacturing Index for June was a bloodbath.

Read more at: https://www.zerohedge.com/markets/good-news-sends-stocks-bonds-lower-oil-gas-prices-soar

Amtrak Train Packed With 243 Passengers Derails In Missouri

An Amtrak train with 243 passengers derailed near Mendon, Missouri, on Monday, according to CNN. The train hit a dump truck at a public crossing around 1342 CT.

“There are approximately 243 passengers onboard with early reports of injuries,” company officials said. “Local authorities are currently assisting customers, and we have deployed Amtrak resources to assist.”

A passenger told The Daily Beast the derailment appeared to be a “mass casualty event.”

Ron Goulet from Flagstaff, Arizona, said he was uninjured when the train hit a truck and jumped the tracks, resulting in the derailment.

Read more at: https://www.zerohedge.com/markets/amtrak-train-packed-243-passengers-derails-missouri

Sam Bankman-Fried’s FTX Looking At “Path” Toward Deal For Robinhood

Sam Bankman-Fried’s FTX Looking At “Path” Toward Deal For RobinhoodRobinhood shares have popped more than 10% during intraday trading on Monday after Bloomberg announced that FTX’s Sam Bankman-Fried, who is already an investor in the company, was seeking a path to acquire the struggling brokerage.

Bloomberg reported late in the day on Monday that FTX was “exploring whether it might be able to acquire Robinhood Markets Inc,” citing people familiar with the matter. FTX is said to be “deliberating internally how to buy the app-based brokerage”.

Robinhood has said that it has not received a formal takeover approach and Sam Bankman-Fried was mum on the idea of a takeover when emailed on Monday, according to Bloomberg.

The crypto billionaire told Bloomberg: “We are excited about Robinhood’s business prospects and potential ways we could partner with them. That being said, there are no active M&A conversations with Robinhood.”

Robinhood spiked 25% back in May when Bankman-Fried first announced his 7.6% stake in the company, which we detailed

Read more at: https://www.zerohedge.com/markets/sam-bankman-frieds-ftx-looking-path-toward-deal-robinhood

“F**k Clarence Thomas!” Shouts Chicago Mayor Lori Lightfoot During Pride Parade

Chicago’s foul-mouthed Mayor took to the stage at this weekend’s Pride Parade, where she declared “fuck Clarence Thomas,” following Friday’s Supreme Court decision overturning Roe v. Wade.

“So we know what happened in the Supreme Court yesterday. If you read Clarence Thomas’ concurrence, he said —” she said, addressing someone in the crowd, adding “Thank you. Fuck Clarence Thomas!”

“He thinks that we are going to stand idly by while they take our rights, our right to marry, our right to have children, our right to live!” she continued.

Watch:

“Fuck Clarence Thomas” -@chicagosmayor @SCOTUSblog @chicago

Read more at: https://www.zerohedge.com/political/fk-clarence-thomas-shouts-chicago-mayor-lori-lightfoot-during-pride-parade

Post Office workers to strike over pay

The one-day strike will take place on 11 July over what a union called a “massive real-terms pay cut”.

Read more at: https://www.bbc.co.uk/news/business-61957004?at_medium=RSS&at_campaign=KARANGA

Plan to cut energy bills if you avoid peak-time use

Some households could get discounts for using less energy at peak times under National Grid’s scheme.

Read more at: https://www.bbc.co.uk/news/business-61949246?at_medium=RSS&at_campaign=KARANGA

Sainsbury’s pressed to pay more to subcontracted workers

Shareholders are calling for the supermarket to make a broader commitment to paying higher wages.

Read more at: https://www.bbc.co.uk/news/business-61952914?at_medium=RSS&at_campaign=KARANGA

Tech View: No Nifty follow-up buying after gap-up start disappointing; 15,800 a key support

“To regain some strength, the bulls need a close at least above its 20-day SMA, whose value is placed around 15,984 levels. In such a scenario strength can further expand towards the 16,172 level.

Read more at: https://economictimes.indiatimes.com/markets/stocks/news/tech-view-no-nifty-follow-up-buying-after-gap-up-start-disappointing-15800-a-key-support/articleshow/92496610.cms

5 top-performing midcap funds log up to 21% returns in 1 year. Here are their key holdings

Ruchi Soya has fallen 2 percent in the last year in line with the BSE Midcap’s 3 percent slide. The Indian Hotels Company has rallied 59 percent in the last year, Canara Bank has risen 21 percent, Tata Communications has fallen 28 percent while shares of Container Corporation of India have declined 11 percent in the past year.

Read more at: https://economictimes.indiatimes.com/markets/stocks/news/key-holdings-of-5-top-performing-midcap-funds-log-up-to-21-returns-do-you-own-any/articleshow/92490168.cms

ICICI Bank among 7 stocks that can offer solid returns in near term

Indian equity markets scripted a decent recovery last week but the volatility in the equity space persists. Amid the ongoing recovery, traders can find suitable opportunities to mint money in the short-term, suggest technical charts. Based on the recommendations from the analysts, here are some stocks which may deliver handsome returns in the near future:

Read more at: https://economictimes.indiatimes.com/markets/stocks/news/icici-bank-bajaj-finserv-among-7-stocks-that-may-deliver-handsome-returns-in-near-term/money-making-ideas/articleshow/92482938.cms

Corporate America was becoming more partisan even before Roe’s reversal —and that’s ‘likely not in the interest of shareholders,’ research says

‘The increasingly partisan work environment has negative consequences for firm value,’ wrote researchers from Boston College, Cornell, and the University of Chicago.

Read more at: http://www.marketwatch.com/news/story.asp?guid=%7B20C05575-04D4-B545-7F02-5BA1CA08B38C%7D&siteid=rss&rss=1

Bond Report: Treasury yields bounce across the board after breaking string of 3 consecutive weekly rises

Treasury yields move higher Monday as data on durable-goods orders topped expectations and auctions of new supply met tepid demand.

Read more at: http://www.marketwatch.com/news/story.asp?guid=%7B20C05575-04D4-B545-7EFD-B5A92E2C6670%7D&siteid=rss&rss=1

Market Extra: Major bond ETFs on pace for worst first half to a year on record

Carnage in bonds this year has many major fixed-income exchange-traded funds looking at their worst first half to a year in history, according to Dow Jones Market Data.

Read more at: http://www.marketwatch.com/news/story.asp?guid=%7B20C05575-04D4-B545-7F01-8E4D73C69F51%7D&siteid=rss&rss=1