21Mar2022 Market Close & Major Financial Headlines: DOW Down 202 Points, NASDAQ Down 0.4%, S&P 500 Finishes Flat Lower -0.04%, Bonds Battered, Stocks Slide As Powell Channels Volcker, Crude Surges To $112

Palladium Prices Return To Earth, But Supply Concerns Remain

After registering a record high earlier this month, palladium prices dropped about 17% early last week. Palladium prices had a sharp correction, as worries over shortage in its supply from major producer Russia came down several notches. Russia accounts for 40% of global palladium mine production. Palladium is a crucial component in automobile catalysts. Russia is the top producer in the world, followed closely by South Africa. Palladium prices surge after invasion For the past few weeks, palladium prices surged dramatically following Russias

Read more at: https://oilprice.com/Latest-Energy-News/World-News/Palladium-Prices-Return-To-Earth-But-Supply-Concerns-Remain.html

What Is Holding U.S. Nuclear Energy Back?

Global energy markets are in turmoil over Russias invasion of Ukraine and the subsequent energy sanctions imposed by western nations. As we recently wrote, both renewables and nuclear energies are the two immediate beneficiaries of this conflict and the related allied response. For example, on March 19, Belgium announced a ten-year delay in the planned closure of two nuclear plants, Doel 4 and Tihange 3 while doubling its commitment to offshore wind. The most interesting aspect of the Belgian press release, especially for those seeking large

Read more at: https://oilprice.com/Energy/Energy-General/What-Is-Holding-US-Nuclear-Energy-Back.html

Coal Prices In India Soar As Buyers Race To Procure Fuel

Coal prices in India have jumped in local auctions after buyers race to procure local fuel amid the market panic that started with the Russian invasion of Ukraine. Some buyers in India have paid 340 percent above baseline prices in local auctions so far in March, Bloomberg reported on Monday, citing sources familiar with the developments. The seller was Coal India Ltd, the largest coal producer in the country and the world. The company usually sells around 15 percent to 20 percent of the coal it mines via an online auction system, under which customers

Read more at: https://oilprice.com/Latest-Energy-News/World-News/Coal-Prices-In-India-Soar-As-Buyers-Race-To-Procure-Fuel.html

Soaring Fossil Fuel Prices Shouldn’t Dampen Energy Transition Optimism

Four months after COP26, the global energy picture has changed significantly and not in the direction that COP negotiators would have hoped. Far from declining, coal use globally surged to record levels over the winter, causing emissions to rise. And that was before Russia invaded Ukraine, causing a global energy crisis that has forced countries, especially in Europe, to look for ways to quickly wean themselves off Russian oil and gas, and reconsider timelines of commitments to cut the use of fossil fuels. A recent study by McKinsey &

Read more at: https://oilprice.com/Energy/Energy-General/Soaring-Fossil-Fuel-Prices-Shouldnt-Dampen-Energy-Transition-Optimism.html

UK Homes Are Turning To Solar Panels To Tackle Sky-High Energy Prices

Solar panels and smart meters have gained traction with households hoping to save money on energy bills, according to new search data from eBay UK. With the consumer price cap set to rise to nearly 2,000 per year next month, customers are looking for energy-saving improvements with green energy options taking center stage. Compared to this time last year, the number of searches for smart meters has increased more than 68 percent on eBay UK, while the number of searches for solar panels has increased

Read more at: https://oilprice.com/Latest-Energy-News/World-News/UK-Homes-Are-Turning-To-Solar-Panels-To-Tackle-Sky-High-Energy-Prices.html

Russia’s Invasion Of Ukraine Is A Catastrophe For Its Oil Industry

A quick look at the numbers will show just how intertwined Europe and Russia are, and how the Russians have taken aim at the goose that lays the golden eggs. Here are the numbers, all rough and all changing fast. First, the world consumes about 97 million barrels a day(b/d) of oil. The Russians produce about 11 million b/d. They are big producers. They export about 8 million b/d. Now it gets pertinent to todays crisis. The Russians send about 80% of their exports to Europe. And the Europeans get 40% of their oil from Russia. In other words,

Read more at: https://oilprice.com/Energy/Energy-General/Russias-Invasion-Of-Ukraine-Is-A-Catastrophe-For-Its-Oil-Industry.html

Nike shares rise as earnings top estimates on strong North America demand

Nike reported earnings and sales that topped analysts’ estimates, thanks to robust demand in North America as consumers headed back to stores.

Read more at: https://www.cnbc.com/2022/03/21/nike-nke-reports-fiscal-q3-2022-earnings.html

Elon Musk says SpaceX will hopefully launch first Starship orbital flight in May

Elon Musk on Monday gave an update on the timeline for SpaceX’s first orbital launch of the company’s next-generation Starship rocket.

Read more at: https://www.cnbc.com/2022/03/21/elon-musk-spacex-will-hopefully-launch-starship-orbital-flight-in-may.html

Investing Club: How we view our Boeing position after the tragic plane crash in China

Many investors were dumping shares of the plane maker Monday on headline risk. That kind of selling isn’t part of our investment strategy.

Read more at: https://www.cnbc.com/2022/03/21/how-we-view-our-boeing-position-after-the-tragic-plane-crash-in-china.html

Ford F-150 Lightning’s 320-mile range beats available Rivian electric pickups, but lags GMC

The Ford F-150 Lightning pickup will have an electric range of up to 320 miles, according to final EPA estimates released Monday by the automaker.

Read more at: https://www.cnbc.com/2022/03/21/ford-f-150-lightnings-range-beats-rivian-electric-pickups-lags-gmc.html

SpaceX’s Starlink sees the in-flight internet market as ripe for an overhaul, executive says

Elon Musk’s SpaceX believes an aviation-specific antenna may be revolutionary for connecting Starlink, its global high-speed internet service, with airplanes.

Read more at: https://www.cnbc.com/2022/03/21/spacex-starlink-vp-aviation-internet-market-ripe-for-overhaul.html

General Motors is creating an import business to send certain iconic vehicles to China

The business, which GM is calling a start-up within the company, will focus on vehicles and potentially brands that are currently not available in that market.

Read more at: https://www.cnbc.com/2022/03/21/gm-creating-new-import-business-of-iconic-vehicles-from-us-to-china.html

Stocks making the biggest moves midday: Boeing, Disney, Berkshire Hathaway and more

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

Read more at: https://www.cnbc.com/2022/03/21/stocks-making-the-biggest-moves-midday-boeing-disney-and-more.html

FDA advisory committee to discuss future of Covid boosters

An FDA advisory committee will discuss Covid-19 boosters for the coming months and what factors would make it necessary to update the shots to target specific variants.

Read more at: https://www.cnbc.com/2022/03/21/fda-advisory-committee-to-discuss-future-of-covid-boosters.html

Investors see growth opportunity in Femtech devoted to women’s health

Investors see growth opportunity in Femtech as more employers adopt coverage for women’s health services and technology

Read more at: https://www.cnbc.com/2022/03/21/investors-see-growth-opportunity-in-femtech-devoted-to-womens-health-.html

The Routing Company lets you hail a ride — on public transit

The Routing Company raised $15 million in a series A funding round led by Galvanize Climate Solutions.

Read more at: https://www.cnbc.com/2022/03/21/the-routing-company-lets-you-hail-a-ride-on-public-transit.html

Ashton Kutcher and Mila Kunis raise over $34 million for Ukraine aid

Kutcher and Kunis launched the campaign with a $3 million gift. Since then, more than 65,000 people have contributed, including several billionaires.

Read more at: https://www.cnbc.com/2022/03/21/ashton-kutcher-and-mila-kunis-raise-over-34-million-for-ukraine-aid-.html

Op-ed: Why investors should care about who owns their advisor’s firm

There are many factors to consider when selecting a financial advisor, from acumen to personal chemistry. Also important: who actually owns the advisor’s firm.

Read more at: https://www.cnbc.com/2022/03/21/op-ed-why-investors-should-care-about-who-owns-their-advisors-firm.html

Coal’s a ‘stupid investment’ and we’re ‘sleepwalking to climate catastrophe,’ says UN chief Guterres

Antonio Guterres pulled no punches in remarks broadcast Monday morning.

Read more at: https://www.cnbc.com/2022/03/21/coal-is-a-stupid-investment-un-chief-antonio-guterres-.html

Severe Drought & “Dust Bowl Conditions” Threaten Disastrous Winter Wheat Harvest In The US

Severe Drought & “Dust Bowl Conditions” Threaten Disastrous Winter Wheat Harvest In The USAuthored by Michael Snyder via TheMostImportantNews.com,

Food prices in the U.S. have already been soaring, and now we are on track for an absolutely horrible winter wheat harvest.  Of course this comes at a time when the war on the other side of the globe is going to greatly reduce wheat exports from Russia and Ukraine.  Over the last 12 months, the price of wheat has already risen 69 percent, and now this crisis threatens to go to an entirely new level.  In all my years of writing, I have never seen anything like this, and I am deeply concerned about what the months ahead will bring.

Due to extreme drought, winter wheat is in very bad shape in states such as Kansas, Oklahoma and Texas.  The following comes from

Read more at: https://www.zerohedge.com/weather/severe-drought-dust-bowl-conditions-threaten-disastrous-winter-wheat-harvest-us

Bonds Battered, Stocks Slide As Powell Channels Volcker; Crude Surges

Bonds Battered, Stocks Slide As Powell Channels Volcker; Crude SurgesFedSpeak dominated the market action today in stocks and bonds with a very hawkish and tone consistently narrated by first Raphael Bostic, then Tom Barkin…

*BOSTIC SAYS HE’S NOT WEDDED TO ONLY MOVE RATES IN 25 BPS STEPS

*BOSTIC SAYS FED SHOULD GET MOVING `QUICKLY’ ON BALANCE SHEET

*BARKIN: CAN MOVE AT 50 BP CLIP AGAIN TO TAME INFLATION

*BARKIN: WE COULD MOVE FASTER, BUT ALREADY IMPACTING BOND MARKET

Then the Chair ‘dropped the mic’… Powell’s prepared remarks and Q&A confirmed he was open to 50bps hikes (“we may well conclude that we need to move more quickly”) and that The Fed is a long way from an equilibrium balance sheet (suggesting more aggressive QT). This did remind us of his comments in Oct 2018 (“we are a long way from neutral”) that sparked the plunge that forced Powell back into uber-dovish ‘rescue the world’ mode. Of course, the ubiquitous buying-panic in the last few minutes polished the turd on the day. The S&P magically made it back to unch…

Read more at: https://www.zerohedge.com/markets/bonds-stocks-battered-powell-goes-full-volcker-crude-surges

Goldman Sachs Carries Out Wall Street’s First Over-The-Counter Crypto Trade

Goldman Sachs Carries Out Wall Street’s First Over-The-Counter Crypto TradeFirst Goldman starts making markets in nickel with the metal still frozen on the LME, and now this: in what will likely be construed as a milestone for Wall Street, Goldman Sachs has conducted its first over-the-counter crypto transaction, according to CNBC making it the first major US bank to do so.

Specifically, the bank traded a bitcoin-linked instrument called a non-deliverable option with crypto merchant bank Galaxy Digital, according to the two firms.

The trade is seen as a crucial step in the development of crypto markets for institutional investors, in part because of “the nature of OTC trades.” Compared to the exchange-based CME Group bitcoin futures that Goldman began trading last year, the bank said it is taking on gre …

Read more at: https://www.zerohedge.com/markets/goldman-sachs-carries-out-wall-streets-first-over-counter-crypto-trade

“Some F*ckery Is Afoot” – Rogan Slams “Outright Crazy” Media Coverage Of Hunter Biden Laptop Story

“Some F*ckery Is Afoot” – Rogan Slams “Outright Crazy” Media Coverage Of Hunter Biden Laptop StoryAuthored by James Anthony via ThePostMillennial,com,

Podcasting icon Joe Rogan slammed the corporate media’s coverage of the Hunter Biden laptop saga on Saturday’s episode of his popular show featuring former CIA covert operations officer Mike Baker, the current CEO of a global intelligence firm.

In the program’s segment, Baker noted the legacy media “love a good story.”

“They don’t just love a good story. They love a narrative, and they’re willing to ignore facts to push that narrative. That’s what scares me,” Rogan said.

Rogan noted he believes there are objective journ …

Read more at: https://www.zerohedge.com/political/some-fckery-afoot-rogan-slams-outright-crazy-media-coverage-hunter-biden-laptop-story

New P&O crew on less than £2 an hour, union claims

The RMT union says Indian seafarers recruited to work in Dover are on rock bottom rates.

Read more at: https://www.bbc.co.uk/news/business-60821266?at_medium=RSS&at_campaign=KARANGA

UK government mulls move to take over Gazprom unit

The BBC understands that the UK division of Russian gas giant Gazprom could be placed into administration.

Read more at: https://www.bbc.co.uk/news/business-60825804?at_medium=RSS&at_campaign=KARANGA

Spring Statement: What to expect on fuel, pensions and benefits

The Ukraine war and rising living prices means Rishi Sunak faces pressure to take fresh action to help.

Read more at: https://www.bbc.co.uk/news/business-60819205?at_medium=RSS&at_campaign=KARANGA

Fed will consider more-aggressive interest rate hikes: Powell

In particular, he added, “if we conclude that it is appropriate to move more aggressively by raising the federal funds rate by more than 25 basis points at a meeting or meetings, we will do so.”

Read more at: https://economictimes.indiatimes.com/markets/stocks/news/fed-must-move-expeditiously-and-if-needed-more-aggressively-says-powell/articleshow/90360487.cms

Cannot offset losses from one crypto against gains from another, clarifies govt

In the recent budget, the government proposed to tax gains at the rate of 30 per cent but there was still some confusion on how gains and losses will be calculated. This reply clarifies one of those doubts.

Read more at: https://economictimes.indiatimes.com/markets/cryptocurrency/cannot-offset-losses-from-one-crypto-against-gains-from-another-clarifies-govt/articleshow/90354653.cms

Accenture Q2 takeaways: Desi IT firms eye solid Q4 results, upgrades

The IT firm upgraded its guidance by 450 basis points, in addition to 700 basis points in the previous quarter, suggesting no impact of Russia-Ukraine war yet and healthy quarterly numbers ahead for domestic IT firms.

Read more at: https://economictimes.indiatimes.com/markets/stocks/news/accenture-q2-takeaways-desi-it-firms-eye-solid-q4-results-upgrades/articleshow/90347484.cms

Bond Report: Treasury yields hit highest levels since 2019 as Fed’s Powell leaves door open to half-point rate hikes

Treasury yields extend rise Monday as Federal Reserve Chairman Jerome Powell says policy makers are willing to hike rates in half-point increments if necessary to get inflation under control.

Read more at: http://www.marketwatch.com/news/story.asp?guid=%7B20C05575-04D4-B545-7ADA-13424EB96D46%7D&siteid=rss&rss=1

: Ketanji Brown Jackson says she’ll decide cases ‘without fear or favor’ as Republican senators promise ‘tough questions’ for Biden’s Supreme Court pick

Monday brings Day 1 for the Senate Judiciary Committee’s confirmation hearing for Judge Ketanji Brown Jackson, the first Black woman nominated to the U.S. Supreme Court.

Read more at: http://www.marketwatch.com/news/story.asp?guid=%7B20C05575-04D4-B545-7ADF-B2F5058E0708%7D&siteid=rss&rss=1

FA Center: As stocks wobble, the March 2000 Nasdaq top is a harsh reminder that the long run isn’t always your friend

The stock market doesn’t necessarily produce handsome returns over time.

Read more at: http://www.marketwatch.com/news/story.asp?guid=%7B20C05575-04D4-B545-7AE6-27C020133799%7D&siteid=rss&rss=1