Headlines:
Stocks end lower ahead of a 3-day holiday weekend amid continued Ukraine jitters.
The Oil And Gas Rig Count Continues To Soar.
Walt Disney World Increases Prices For Multiday And Park Hopper Tickets.
Gold Soars, Credit Cracks, Stocks Sink As Putin, Powell, & The President Pontificate.
Draftkings CEO California Sports Betting Revenue Could Help Address ‘Homelessness And Mental Health.’
Wall Street equities sea-sawed downward until 1320 EST, when markets reversed their downward spiral with help from the BTFD crowd. The DOW and oil prices mark the second losing week over the Russia-Ukraine tensions. The Russian invasion of Ukraine is becoming larger than life to some wary investors, even though quarterly financial reporting isn’t all that bad.
The primary force moving markets has been the distinct possibility of Russia invading Ukraine and creating a global problem not easily solved. The White House says Russia has deployed 190,000 troops, doubling its presents at the Ukrain border, while Russian sources claim a pullback.
WTI crude is trending downward, but support at the 90 mark is getting closer. Falling through the 89/90 support will certainly signal further depreciation to at least the 84 level. Gold started the session falling steeply from yesterday’s high of 1905 to eventually rebounding at noon from 1885 to settle at 1896. On the other hand, Silver rose from 23.66 at noon to 24.08 before sliding to 23.94 at 4 o’clock.
Bitcoin is drifting lower, falling through its SMA only to rise above the session low of 39500 to 40100. Dogecoin has been trading at the $0.1392 level and trending down over the last week.
Some analysts are betting choppy markets are here to stay. However, the red volume has been fractionally lower, suggesting that market swings are not conclusive of total investor sentiments. It also presents a ‘hold-and-see’ approach to the Fed’s approach to controlling inflation through interest rate manipulation.
A Fed Policy Mistake Would Be To Stay Loose Relative To Markets. Since April last year, the Fed has watched inflation rise higher. Front-end yields were patient, too, then, given the monetary authority’s inflation-targeting framework. But, as the price footprints began getting stronger and stronger, the Fed kept dismissing it as transitory. The reasoning was inflation failed to uncork above 2% in the longest post-war expansion before the pandemic struck, with the implicit suggestion being there is no reason to suspect this time would be different.
As usual, we have included below the headlines and news summaries moving the markets today.
The Market in Perspective
| Here are the headlines moving the markets. | |
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Iran Rises Above Russia On The Oil Market RadarIran has risen above Russia on the oil market radar due to reports from multiple sources that a new nuclear deal is very close to being agreed upon. Rumors that Russia was about to invade Ukraine sent oil prices soaring earlier in the week, but tensions eased slightly as the week went on.Oilprice Alert:InnerCircle members will receive the next private placement intelligence letter on Wednesday next week. Tap into a secret world of wealth and receive our 50-page whitepaper on Private Placements for free by signing up today.Friday, February Read more at: https://oilprice.com/Energy/Energy-General/Iran-Rises-Above-Russia-On-The-Oil-Market-Radar.html |
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The Oil And Gas Rig Count Continues To SoarThe number of active drilling rigs in the United States rose by 10 this weekthe 17th straight weekly increase to the number of oil and gas rigs in the United States. The total rig count now has now reached 645 as the price of crude slipped for its first weekly decline in nine weeks. Baker Hughes reported this week that the total active rig figureoil, gas, and miscellaneousis 248 rigs higher than the rig count this time in 2021. Oil-directed rigs rose 4 to 520, while gas-directed rigs were up by 6 to 124. Miscellaneous rigs Read more at: https://oilprice.com/Energy/Energy-General/The-Oil-And-Gas-Rig-Count-Continues-To-Soar.html |
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Guyana Looks To Attract Middle East Oil CompaniesGuyana is in talks with Middle Eastern state oil companies to take part in oil and gas exploration, Reuters has reported citing an exclusive interview with Guyanas Vice President Bharrat Jagdeo. Weve had offers from some countries to work with us in this regard. Some from the Middle East, Jagdeo said on the sidelines of Guyanas International Energy Conference, which is taking place this week. Diversification of interest is good for our country. According to Reuters, Saudi Arabia and Qatar were among Read more at: https://oilprice.com/Latest-Energy-News/World-News/Guyana-Looks-To-Attract-Middle-East-Oil-Companies.html |
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Oil Prices To End The Week Lower As Hopes Of An Iran Deal RiseOil prices were down early on Friday, headed for their first weekly decline in nine weeks, as reports intensify that an Iranian nuclear deal could be closer than ever. As of 9:55 a.m. EST, the U.S. benchmark, WTI Crude, had fallen to below $90 a barrel, and traded at $89.85, down by 2.09%. Early this week, WTI Crude hit $95 per barrel, and Brent Crude touched $96 on Monday amid market fears of an imminent Russian invasion of Ukraine and the possibility of disruption of Russian energy supplies to Europe. On Friday at 9:55 a.m., Brent Crude was down Read more at: https://oilprice.com/Energy/Energy-General/Oil-Prices-To-End-The-Week-Lower-As-Hopes-Of-An-Iran-Deal-Rise.html |
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Los Angeles Looks To Launch Massive Hydrogen NetworkThe largest gas utility in the United States revealed a proposal on Thursday for what would be the largest green hydrogen network, according to a company press release. SoCalGasa division of Sempra Energy (NYSE: SRE)has announced its plans for the Angeles Link, a network designed to help California achieve net-zero by 2045. SoCalGas has referred to the green hydrogen network as one of the worlds largest clean energy infrastructure systems. As proposed, the Angeles Link could deliver enough green hydrogen to displace as Read more at: https://oilprice.com/Latest-Energy-News/World-News/Los-Angeles-Looks-To-Launch-Massive-Hydrogen-Network.html |
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Europe Is Running Out Of Space For LNGAfter the massive influx of U.S. liquefied natural gas to make up for lower pipeline supplies from Russia amid high demand, Europe is running out of processing capacity for the gas, Reuters has reported. Europe turned into the biggest market for U.S. liquefied natural gas over the past three months as concern about the geopolitical tensions around Ukraine prompted the EU to seek alternatives for Russian gas in case Moscow turned the taps off, even though Moscow has repeatedly said that it has no such plans. Because of the increase in LNG shipments Read more at: https://oilprice.com/Energy/Energy-General/Europe-Is-Running-Out-Of-Space-For-LNG.html |
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What the Club’s watching Friday afternoon — including an example of Disney’s pricing prowessAlso on the list, what we think is an overdone drop in Abbott and a nice follow through rally for Cisco. Read more at: https://www.cnbc.com/2022/02/18/what-the-clubs-watching-friday-afternoon-including-an-example-of-disneys-pricing-prowess.html |
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U.S. government allows Mexican avocado imports to resume after brief suspensionThe U.S. Department of Agriculture announced Friday that imports of Mexican avocados could resume after a brief pause. Read more at: https://www.cnbc.com/2022/02/18/us-government-allows-mexican-avocado-imports-to-resume-after-brief-suspension.html |
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Elon Musk’s SpaceX to split its private stock 10-for-1Elon Musk’s SpaceX is splitting the value of its common stock 10-for-1, CNBC has learned. Read more at: https://www.cnbc.com/2022/02/18/elon-musks-spacex-performing-10-for-1-stock-split.html |
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Bill Gates says Covid risks have ‘dramatically reduced’ but another pandemic is coming“We’ll have another pandemic. It will be a different pathogen next time,” Bill Gates told CNBC. Read more at: https://www.cnbc.com/2022/02/18/bill-gates-covid-risks-have-reduced-but-another-pandemic-will-come.html |
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Walt Disney World increases prices for multiday and Park Hopper ticketsWalt Disney World Resort is raising ticket prices for guests visiting the parks for multiple days. Read more at: https://www.cnbc.com/2022/02/18/walt-disney-world-increases-prices-for-multiday-park-hopper-tickets.html |
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Texas led the country in new renewable energy projects last yearRepublicans for decades have overseen the energy sector in Texas, which still ranks 10th in the country for fossil fuel consumption. Read more at: https://www.cnbc.com/2022/02/18/texas-led-the-country-in-new-renewable-energy-projects-last-year.html |
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GM discontinues once-promising Marketplace app that allowed you to shop while drivingGM had high expectations for the industry-first feature when it launched in late 2017, but it suffered from low usage rates and lack of growth. Read more at: https://www.cnbc.com/2022/02/18/gm-discontinues-once-promising-marketplace-app-that-allowed-you-to-shop-while-driving.html |
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Victoria’s Secret hires its first model with Down syndromeWith the release of Victoria’s Secret’s new Love Cloud campaign comes a new model, Sofia Jirau, a Puerto Rican model with Down syndrome. Read more at: https://www.cnbc.com/2022/02/18/victorias-secret-hires-sofia-jirau-its-first-model-with-down-syndrome.html |
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Ford shares pop on report of CEO Jim Farley analyzing spinoff of EV businessShares of Ford were up by as much as 5.4% to $18.48 during intraday trading Friday. Read more at: https://www.cnbc.com/2022/02/18/ford-shares-pop-on-report-of-potential-spin-off-of-ev-business.html |
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Watch Bill Gates share his thoughts on how to end to the Covid pandemicCNBC’s Hadley Gamble discusses what needs to happen to bring an end to the pandemic with Bill Gates and others at the Munich Security Conference. Read more at: https://www.cnbc.com/2022/02/18/watch-bill-gates-share-his-thoughts-on-how-to-end-to-the-covid-pandemic.html |
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What’s behind the congestion at U.S. portsShipping is a key component of U.S. trade but America has some of the least efficient ports in the world, according to a World Bank and IHS Markit study. Read more at: https://www.cnbc.com/2022/02/18/whats-behind-the-congestion-at-us-ports.html |
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Hermes CEO says ‘no strategy’ to increase prices despite disappointing fourth quarterFrench luxury goods brand Hermes said it has “no strategy” to significantly increase prices or despite disappointing fourth quarter results. Read more at: https://www.cnbc.com/2022/02/18/hermes-ceo-no-strategy-to-increase-prices-despite-dim-fourth-quarter-.html |
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Mattel looks to movies, digital gaming and NFTs for its next leg of growthMattel details how it plans to capitalize on its turnaround and expand its film and TV content, consumer products, and digital and mobile gaming segments. Read more at: https://www.cnbc.com/2022/02/18/mattel-unveils-its-strategy-for-its-next-leg-of-growth.html |
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Gold Soars, Credit Cracks, Stocks Sink As Putin, Powell, & The President PontificateGold Soars, Credit Cracks, Stocks Sink As Putin, Powell, & The President PontificateToday was a microcosm of the week with headlines dominating the swings as traders focused on what Powell will do, what Putin has done (or not), and what the President will threaten to do, and what chaos they will unleash…
Somewhat predictably (ahead of a 3-day weekend), today was a chaotic mess of headline-chasing in US equity markets. OVERNIGHT Rally: Lavrov Agrees to Meet Blinken, U.S. Says Then: 0809ET *DONBAS SEPARATISTS SAY WOMEN, CHILDREN TO LEAVE FOR RUSSIA: IFX 0838ET *PUTIN: RUSSIA ISN’T AGAINST TALKS ON U.S. SECURITY PROPOSALS 0845ET Russia creating ‘false provocations’ in Ukraine in past 24-48 hours: Blinken 1040ET *FED’S EVANS: POLICY WRONG-FOOTED, NEEDS SUBSTANTIAL ADJUSTMENT 1049ET *ECB OFFICIALS EDGE TOWARD 2022 RATE HIKE TO STEM INFLATION 1100ET ITAR-TASS: Powerful explosion rocks downtown Donetsk — Donetsk News Agency 1107ET *BIDEN CALL WITH TRANSATLANTIC LEADERS SET FOR 2:30PM ET 1240ET *WILLIAMS: HAVE ROOM TO TRIM BAL SHEET MORE QUICKLY THAN BEFORE, SEES FED MOVIN … Read more at: https://www.zerohedge.com/markets/gold-soars-credit-cracks-stocks-sink-amid-putin-powell-pontification |
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Watch Live: President Biden Addresses The Russia/Ukraine SituationWatch Live: President Biden Addresses The Russia/Ukraine SituationAfter an avalanche of escalating headlines – from exploding cars to mass graves and from shelling kindergartens to mass evacuations – President Biden stands ready to put the world straight on what narrative they should be paying attention to. The White House’s official statement on the address is as follows:
The remarks will come after the president spoke with NATO leaders this afternoon as fears of an invasion are classified as “imminent” once again.
Watch President Biden’s address here (due to start at 1600ET): Read more at: https://www.zerohedge.com/geopolitical/watch-live-president-biden-addresses-russiaukraine-situation |
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Rand Paul Vows To “Force A Repeal Of The Federal Regulation Mandating Masks”Rand Paul Vows To “Force A Repeal Of The Federal Regulation Mandating Masks”Authored by Steve Watson via Summit News, Senator Rand Paul declared this week that he is already gathering signatures from lawmakers in an effort to force a vote to repeal federal mask mandates on planes.
In an Newsmax interview, Paul asserted that “what we’ve said [about] the vaccine mandates is, we’re sick and tired of the government mandating our behavior and taking our liberty away, and I’m as mad as the Canadian truckers are.” “I want it to end,” Paul continued, adding “There’s no science behind these mask mandates, we’re just punishing our children, let’s end it.” “It’s beginning to unravel,” Paul declared, saying that several Democratic governors are starting to “back away” from mask mandates. “But we n … Read more at: https://www.zerohedge.com/political/rand-paul-vows-force-repeal-federal-regulation-mandating-masks |
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A Fed Policy Mistake Would Be To Stay Loose Relative To MarketsA Fed Policy Mistake Would Be To Stay Loose Relative To MarketsBy Ven Ram, Bloomberg Markets Live commentator and report When you get asked what a policy mistake looks like even before the benchmark funds rate has risen once in the current cycle, it is a telling reflection of how far the Fed is behind the curve. Since April last year, the Fed has watched inflation run higher and higher. Front-end yields were patient too, then, given the monetary authority’s inflation-targeting framework. As the price footprints began getting stronger and stronger, the Fed kept dismissing it as transitory on a reasoning that inflation failed to really uncork above 2% in the longest post-war expansion before the pandemic struck, with the implicit suggestion being there is no reason to suspect this time would be different. As the prints got progressively worse, we heard the “this too shall pass” — transitory — mantra for a while. And through all of it, the monetary authority kept flying on auto pilot, continuing to purchase bonds. That was the modern-day equivalent of Nero fiddling while Rome was burning. By the time the Fed had buried its transitory refrain, it was already too late. In contrast, two-year yields saw the writing on the wall as far back as August and began climbing. Since then that segment has added some 130 basis points to its yield. And yet we are here, with the Fed probably realizing that it’s 10 moves behind against the world’s best chess player and wondering what it must do now: should it raise by 25 basis points in March and take it one step at a time? Or should it go 50 basis points straightaway? And should it convene an emergency m … Read more at: https://www.zerohedge.com/markets/fed-policy-mistake-would-be-stay-loose-relative-markets |
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Storm Eunice: Flights and train services cancelledAir travel has been disrupted at many UK airports while rail firms issued a ‘do not travel’ warning. Read more at: https://www.bbc.co.uk/news/business-60430197?at_medium=RSS&at_campaign=KARANGA |
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Post Office scandal: I considered ending my lifeA former post-mistress tells an inquiry how the Post Office threatened to take her home home away. Read more at: https://www.bbc.co.uk/news/business-60429586?at_medium=RSS&at_campaign=KARANGA |
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Luxury cars up in smoke after ship catches fireThousands of Porsche, Audi and VW cars are floating in the Atlantic after an onboard fire. Read more at: https://www.bbc.co.uk/news/business-60429584?at_medium=RSS&at_campaign=KARANGA |
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Market movers: This microcap’s foray into NFT sparks 10% rally in sharesShares of Brightcom Group hit 5 per cent upper circuit on announcing record date for bonus issue of shares. The company decided to set March 16 as the record date. Read more at: https://economictimes.indiatimes.com/markets/stocks/news/market-movers-this-microcaps-foray-into-nft-sparks-10-rally-in-shares/articleshow/89668603.cms |
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Poor post-listing show: Is risk-reward favourable for this D-Street debutant?The company reported a 6 per cent year-on-year (YoY) rise in its debut earnings at Rs 33.60 crore for the December quarter on a 20 per cent YoY rise in net sales at Rs 257.80 crore. Read more at: https://economictimes.indiatimes.com/markets/stocks/news/poor-post-listing-show-is-risk-reward-favourable-for-this-d-street-debutant/articleshow/89661934.cms |
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Tech View: Nifty50 bulls need 17,400 to make a comeback; support at 17,200A bullish candle with a long upper shadow on the daily chart and a small-bodied bullish candle on the weekly time frame indicate a tug of war between the bulls and the bears, said Chandan Taparia of Motilal Oswal Securities. Read more at: https://economictimes.indiatimes.com/markets/stocks/news/tech-view-nifty50-bulls-need-17400-to-make-a-comeback-support-at-17200/articleshow/89667260.cms |
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Earnings Outlook: DraftKings CEO: California sports betting revenue could help address ‘homelessness and mental health’DraftKings stock tumbled after its Friday earnings report as the company saw widening losses and cost increases Read more at: http://www.marketwatch.com/news/story.asp?guid=%7B20C05575-04D4-B545-7973-78DF71A50C62%7D&siteid=rss&rss=1 |
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Bond Report: 2-year Treasury yield posts biggest weekly drop since November as Biden prepares to address nation on UkraineThe 2-year yield, which was little changed on the day, has its biggest weekly drop in three months. Read more at: http://www.marketwatch.com/news/story.asp?guid=%7B20C05575-04D4-B545-796F-3697C3F0F534%7D&siteid=rss&rss=1 |
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: Walmart’s advertising business soars 130% to reach $2.1 billionWalmart Connect, the retail giant’s growing advertising business, more than doubled year-over-year to reach $2.1 billion, the company reported Thursday. Read more at: http://www.marketwatch.com/news/story.asp?guid=%7B20C05575-04D4-B545-7966-AE86643BAA27%7D&siteid=rss&rss=1 |
