18Jul2022 Market Close & Major Financial Headlines: Markets Decline. Oil Up As Traders Assessed the Saudi Sentiment Following President Biden’s Meeting With the Crown Prince.

Is It Time To Revisit The Trans-Caspian Pipeline Plan?

Since February of this year, the escalation of the conflict in Ukraine has had extensive repercussions around the globe. The geopolitical scene is seeing military buildups in Europe, unprecedented since World War II, stronger political and diplomatic ties – within NATO and between Moscow and Beijing – and increasingly groundbreaking economic shifts, with many Western countries imposing sanctions against Russia and divesting their Russian assets. One of the most important factors caused by this domino effect appears to be energy security in Europe.

Read more at: https://oilprice.com/Energy/Energy-General/Is-It-Time-To-Revisit-The-Trans-Caspian-Pipeline-Plan.html

$100+ Oil Is Back For The Long Haul

Oil prices gained over 4.6% on Monday as the market attempted to digest developments in the Middle East, and as the dollar weakened slightly. Brent oil prices climbed to $105.8 per barrel by 3:42 EST Monday, up 4.65% on the day. West Texas Intermediate (WTI) was trading at just over $102. Prices rose Monday as traders assessed the Saudi sentiment following U.S. President Joe Bidens meeting with the Crown Prince on Friday. On Sunday, Bidens advisor on international energy affairs, Amos Hochstein, said Washington believed

Read more at: https://oilprice.com/Latest-Energy-News/World-News/100-Oil-Is-Back-For-The-Long-Haul.html

The Commodities To Benefit From China’s Stimulus Plan

It is not an idle question. For the last two decades, China’s infrastructure spending has been the engine of demand growth for steel, copper, and aluminum prices. So when the South China Morning Post reported that local governments sold 1.94 trillion yuan (US$289 billion) worth of bonds in June to fund infrastructure spending and boost economic growth, markets took note. The Chinese Government Remains Focused on Infrastructure This news came on the heels of last months announcement from the top of Chinas State Council. At that

Read more at: https://oilprice.com/Energy/Energy-General/The-Commodities-To-Benefit-From-Chinas-Stimulus-Plan.html

Canada Sends Repaired Gazprom Turbine To Germany

Canada sent the gas turbine that was being repaired in the country on a July 17 flight to Germany, from where the equipment will need another five to seven days to reach Russia if there are no logistics or customs problems, Russian daily Kommersant reported on Monday, citing sources familiar with the situation. The turbine has become a major issue in the Russia-Europe row over gas supplies over the past month. Moscow slashed deliveries to Europe in the middle of June, saying that a gas turbine for a Nord Stream compressor station being repaired

Read more at: https://oilprice.com/Latest-Energy-News/World-News/Canada-Sends-Repaired-Gazprom-Turbine-To-Germany.html

Which Countries Are The Most Reliant On Nuclear Power?

As Europe transitions towards green energy, the question of what to do with nuclear power is once more at the center of discussions. As Statista’s Anna Fleck reports, just this month, the EU Parliament voted in favor of EU rules that would determine investments in nuclear and certain gas projects as sustainable and green. This will likely pass into law, as it would take 20 out of the EUs 27 member states to reject the move. The new law would come into action from 2023. Data from the International Atomic Energy Agency looks at the use of

Read more at: https://oilprice.com/Alternative-Energy/Nuclear-Power/Which-Countries-Are-The-Most-Reliant-On-Nuclear-Power.html

IEA Urges Europe To Take Immediate Measures To Conserve Gas

Europe needs to take immediate steps to conserve gas and reduce its consumption in order to prevent much more drastic cuts and curtailments later on, Fatih Birol, Executive Director of the International Energy Agency (IEA), said on Monday. The agency has been warning for months that Europe needs to curtail gas consumption to avoid a difficult winter of energy rationing. We have seen some progress on this, particularly in terms of diversifying gas supplies but not enough, especially on the demand side, to prevent Europe from

Read more at: https://oilprice.com/Latest-Energy-News/World-News/IEA-Urges-Europe-To-Take-Immediate-Measures-To-Conserve-Gas.html

Netflix investors brace for subscriber losses as company works on long-term fixes

The theme of Netflix’s quarterly earnings Tuesday may be minimizing bad news rather than showcasing good news.

Read more at: https://www.cnbc.com/2022/07/18/netflix-investors-brace-for-subscriber-losses-as-company-builds-for-long-term.html

Homebuilder sentiment plunges in July as buyers pull back

Homebuilder sentiment fell dramatically in July, as both builders and buyers contend with sky-high inflation.

Read more at: https://www.cnbc.com/2022/07/18/homebuilder-sentiment-takes-historic-plunge-in-july.html

McDonald’s franchisees polled by an owners group overwhelmingly support no-confidence vote on CEO

McDonald’s franchisees unhappy with changes being made to ownership terms are expressing a lack of confidence in the company’s CEO, according to a new survey.

Read more at: https://www.cnbc.com/2022/07/18/mcdonalds-franchise-owners-back-no-confidence-vote-on-ceo-survey-says.html

Flights briefly suspended at London airport after runway damaged during heat wave

London Luton Airport said it repaired the runway “defect,” found during a heat wave, that had caused it to suspend operations Monday.

Read more at: https://www.cnbc.com/2022/07/18/london-flights-suspended-after-runway-damaged-during-heat-wave.html

Delta buys 100 Boeing Max planes, its first major order with the manufacturer in more than a decade

Delta was the last of the major U.S. carriers to order Max planes from Boeing in recent years.

Read more at: https://www.cnbc.com/2022/07/18/delta-buys-100-max-planes-in-first-big-boeing-order-in-over-a-decade.html

9/11 families condemn Trump for hosting Saudi-funded LIV golf tournament at his NJ club

Members of the advocacy group 9/11 Justice condemned Trump for hosting a tournament for the Saudi-funded LIV golf league at his club in Bedminster, N.J.

Read more at: https://www.cnbc.com/2022/07/18/9/11-families-slam-trump-for-hosting-saudi-funded-liv-golf-tournament.html

Ford unveils new F-150 Raptor R pickup with 700 horsepower

Ford and its rivals have been adding performance variants to their lineups to beef up profit margins before they transition more to electric vehicles.

Read more at: https://www.cnbc.com/2022/07/18/ford-unveils-new-f-150-raptor-r-pickup-with-700-horsepower.html

Restaurants are short-staffed, and that’s taking a big toll on customers and workers alike

In the first quarter, customers mentioned short staffing three times more often in their Yelp reviews than in the year-ago period.

Read more at: https://www.cnbc.com/2022/07/17/customer-service-suffers-at-short-staffed-restaurants-as-covid-takes-toll.html

Hollywood finally comes calling for horror writer Paul Tremblay

“Knock at the Cabin,” a new film by director M. Night Shyamalan, is the first adaptation of one of Paul Tremblay’s horror novels.

Read more at: https://www.cnbc.com/2022/07/16/paul-tremblay-interview-m-night-shyamalan-knock-at-the-cabin.html

Boeing CEO says supply chain issues are hindering 737 Max production increase

Boeing’s CEO says constraints from engine suppliers could last about 18 months.

Read more at: https://www.cnbc.com/2022/07/18/boeing-ceo-supply-chain-issues-are-hindering-737-max-production-increase.html

Airfares are finally starting to cool as peak summer travel season fades. Now what?

Airlines face a more uncertain demand landscape after the summer peak.

Read more at: https://www.cnbc.com/2022/07/17/airfares-cool-as-peak-summer-travel-season-fades-now-what.html

How small businesses are fighting inflation and fear of a recession

They survived pandemic to battle inflation. Next up for small businesses: dealing with what recession could mean for their bottom line and growth opportunities.

Read more at: https://www.cnbc.com/2022/07/18/how-small-businesses-are-fighting-inflation-and-fear-of-a-recession.html

5 things to know before the stock market opens Monday

Here are the most important news items that investors need to start their trading day.

Read more at: https://www.cnbc.com/2022/07/18/5-things-to-know-before-the-stock-market-opens-monday-july-18.html

Acting Police Chief During Uvalde School Shooting Placed On Leave After Report Details ‘Systemic’ Failures

Authored by Katabella Roberts via The Epoch Times (emphasis ours),

The lieutenant who was acting police chief on duty the day of the mass shooting at Robb Elementary School in Uvalde, Texas, has been placed on administrative leave following a report that found systemic failures by law enforcement.

Uvalde Mayor Don McLaughlin speaks to the media following a news conference where the Texas House investigative committee released its full report on the shooting at Robb Elementary School in Uvalde, Texas, on July 17, 2022. (Eric Gay/AP Photo)Uvalde Mayor Don McLaughlin confirmed that Lt. Mariano Pargas had been placed on administrative leav …

Read more at: https://www.zerohedge.com/political/acting-police-chief-during-uvalde-school-shooting-placed-leave-after-report-details

Beijing Panics, Scrambles To Halt Mortgage Boycott By “Urging” Banks To Rush Developer Loans

Last week, when we warned that China finds itself on the edge of a violent debt jubilee as millions of “disgruntled” homebuyers have suddenly refused to pay their mortgages (on unfinished construction projects, mind you, so they are completely in their right), we said that “the government is likely to step in sooner rather than later as the mortgage boycotts start to undermine social stability. Either banks have to chip in to provide cheap funds for developers to complete projects, or they have to allow homebuyers to delay their payments. Neither is an attractive option.”

This was correct, and while Beijing has not yet gone “balls to the wall” on injecting liquidity so to speak – as the PBOC has been far more cautious about stimulating the economy now that Chinese debt levels are the highest in known history – it is taking the first steps in that direction with Bloomberg reporting overnight that Chinese regulators “sought to defuse a growing consumer boycott of mortgage payments by urging banks to increase lending to developers so they can complete unfinished housing projects”, in the process sending China’s bank and property stocks higher and restarting Ch …

Read more at: https://www.zerohedge.com/markets/beijing-panics-scrambles-halt-mortgage-boycott-demanding-banks-rush-loans-developers

Apple Plunge Drags Down Market After Reports Of Hiring & Spending Slowdown

Bloomberg is reporting, according to people with knowledge of the matter, that Apple plans to slow hiring and spending growth next year in some divisions to cope with a potential economic downturn.

For some groups, the company won’t increase headcount in 2023, whereas it might normally hire 5% to 10% more employees in a given year. It also plans to not fill roles of departing employees for some groups.

The decision reportedly stems from a move to be more careful during uncertain times, though it isn’t a company-wide policy.

The headline prompted selling, slamming AAPL back into the red…

Read more at: https://www.zerohedge.com/technology/apple-shares-tumble-after-reports-hiring-spending-slowdown

NIMBY DC Mayor Decries Surge In ‘Asylum Seekers’ Bused Into City

Authored by Zachary Stieber via The Epoch Times (emphasis ours),

Washington, D.C.’s mayor is criticizing two border states for busing illegal immigrants to the nation’s capital, which bills itself as a sanctuary city.

Washington, D.C. Mayor Muriel Bowser attends March for Our Lives 2022 in Washington on June 11, 2022. (Paul Morigi/Getty Images for March For Our Lives)Texas and Arizona authorities have for months been offering free rides to illegal aliens who have claimed asylum, citing a lack of resources in dealing with the immigrants and the hope that sending them to Washington will help convince President Joe Biden to increas …

Read more at: https://www.zerohedge.com/political/washington-dc-mayor-decries-illegal-immigrants-being-bused-city

Petrol prices drop from record high, says AA

The AA motoring group says falling wholesale costs could lead to £10 off a tank within a fortnight.

Read more at: https://www.bbc.co.uk/news/business-62209927?at_medium=RSS&at_campaign=KARANGA

UK interest rates could top 2%, Bank policymaker says

Michael Saunders says action is needed to cool inflation now to avoid being “too little too late”.

Read more at: https://www.bbc.co.uk/news/business-62213981?at_medium=RSS&at_campaign=KARANGA

Electricity market review to provide cheaper prices

The government is considering options to reform how the price of electricity is set.

Read more at: https://www.bbc.co.uk/news/business-62208232?at_medium=RSS&at_campaign=KARANGA

HUL Q1 Preview: Profit, sales may rise in double digits; volume growth seen at 3-4% YoY

“We expect a deterioration in rural and urban demand, weakness in BPC and nutrition portfolio and downtrading across the board. We see market share gains for HUL but continued inflationary pressures partly offset by pricing. We forecast 20 per cent YoY growth in Home care, 11 per cent YoY growth in BPC and 12 per cent YoY revenue growth in F&R portfolio,” Kotak said.

Read more at: https://economictimes.indiatimes.com/markets/stocks/earnings/hul-q1-preview-profit-sales-may-rise-in-double-digits-volume-growth-seen-at-3-4-yoy/articleshow/92954466.cms

Brokerages remain bullish on Jhunjhunwala’s largest banking bet, see up to 44% upside

Brokerages are expecting a 25-45 per cent rally in the private lender. Federal Bank has advanced more than 20 per cent the last month, suggests data.LKP Securities, which has a buy call on the stock with a target of Rs 124, said the bank’s 1QFY23 earnings were in line with expectations, thanks to improved NPAs and strong NII growth provisioning for expenses, credit growth and strong return on assets.

Read more at: https://economictimes.indiatimes.com/markets/stocks/news/brokerages-remain-bullish-on-jhunjhunwalas-largest-banking-bet-see-up-to-44-upside/articleshow/92956280.cms

Can Aavas be a long-term play on growing housing finance industry?

The home loan market in India is estimated at around $300 bn. This represents a mortgage to GDP ratio of 11%, which is relatively low compared with others, particularly developing Asian countries. The housing finance market is expected to grow to $750 bn in the next five years, according to the FY22 Annual Report of Aavas Financiers.

Read more at: https://economictimes.indiatimes.com/markets/stocks/news/can-aavas-financiers-be-a-long-term-play-on-growing-housing-finance-industry/articleshow/92952482.cms

Economic Report: A ‘fake’ recession? The U.S. economy is in decent shape for now despite weak GDP

The U.S. might fall prey to recession in the near future, but it isn’t entering one now and any such talk of a shrinking economy would be “fake,” in the words of one analyst.

Read more at: http://www.marketwatch.com/news/story.asp?guid=%7B20C05575-04D4-B545-7FC3-97EF0E63631C%7D&siteid=rss&rss=1

Uber to pay millions to settle suit over charging wait fees to riders with disabilities

Uber Technologies Inc. has reached a multimillion-dollar settlement on federal charges that the company discriminated against riders with disabilities by charging them wait-time fees for the extra time it took for them to enter a vehicle.

Read more at: http://www.marketwatch.com/news/story.asp?guid=%7B20C05575-04D4-B545-7FC6-86C4235E0EA2%7D&siteid=rss&rss=1

Coronavirus Update: U.S. COVID cases tick higher as BA.5 takes hold, and U.K. to offer second booster to those aged 50 and older

U.S. COVID cases are rising again after being steady for several months, as the BA.5 omicron subvariant becomes dominant.

Read more at: http://www.marketwatch.com/news/story.asp?guid=%7B20C05575-04D4-B545-7FC3-FDBFF0975A88%7D&siteid=rss&rss=1