14Apr2022 Market Close & Major Financial Headlines: DOW Closed Down 113 points, NASDAQ Down 2.1%, S&P 500 Down 1.2%, WTI Crude Higher At 106.15, USD Higher At 100.33, Bitcoin Slips Again To 39800 While Dogecoin Rises $0.1413

Russia Pulls The Nuclear Card, Warns Sweden And Finland Not To Join NATO

As expected in the wake of Finland’s announcement early this week that it could decide to apply for NATO membership “within weeks” – Russia has upped the ante by threatening nuclear escalation if that should happen. Sky News has cited the Thursday words of deputy chairman of Russia’s Security Council, Dmitry Medvedev, as follows: Russia has said there will be “no more talk of a nuclear-free Baltic” if Sweden and Finland join NATO. Such a development would more than double the length of the military alliance’s land borders with Russia, Moscow

Read more at: https://oilprice.com/Latest-Energy-News/World-News/Russia-Pulls-The-Nuclear-Card-Warns-Sweden-And-Finland-Not-To-Join-NATO.html

Emerging Oil Producers Could Get A Boost As The West Pivots Away From Russia

New oil regions that have attracted the attention of oil majors looking for greater longevity in their operations and cheap, low-carbon oil prospects could receive an additional boost in response to the Russian invasion of Ukraine. As governments rush to source alternative oil and gas supplies, the rapid development of promising new oil regions could provide the long-term supply needed to reduce the global reliance on Russia. Sanctions on Russia are invigorating interest in new oil regions as energy firms look to develop alternative operations

Read more at: https://oilprice.com/Energy/Energy-General/Emerging-Oil-Producers-Could-Get-A-Boost-As-The-West-Pivots-Away-From-Russia.html

EU Set To Discuss Joint Gas Buying In Bid To Cut Russian Reliance

The leaders of the European Union member states are expected to discuss at their summit at the end of May the idea of jointly buying natural gas to avoid competing with each other for non-Russian supply as the EU seeks to cut its dependence on Moscow, Bloomberg reported on Thursday, citing sources with knowledge of the plans. Since the Russian invasion of Ukraine at the end of February, the EU has been seeking to lower its dependence on Russian natural gas, which met around 40 percent of the blocs demand before the war. The European Commission

Read more at: https://oilprice.com/Latest-Energy-News/World-News/EU-Set-To-Discuss-Joint-Gas-Buying-In-Bid-To-Cut-Russian-Reliance.html

Yergin: Europe Gears Up To Sanction Russian Energy Supplies

Europe could start to sanction Russian energy supplies, energy historian Daniel Yergin has told Bloomberg Television on Thursday. “I think we’re going to start to see sanctions,” Yergin said. The EU has been seriously mulling sanctions on Russian energy supply since the EU condemned the killing of unarmed civilians in Bucha by Russian forces while retreating from Ukrainian towns. While the EU has managed to sanction coal and has committed to weaning itself off Russian oil by the end of the year, the EU cannot so easily disentangle itself from Russian

Read more at: https://oilprice.com/Energy/Energy-General/Yergin-Europe-Gears-Up-To-Sanctions-Russian-Energy-Supplies.html

Russias Invasion Of Ukraine Has Left Kazakhstan On Edge

In the space of only a few months, Kazakhstan has seen a major outburst of violent civil unrest within its own borders and then an invasion of Ukraine launched by its neighbor to the north, Russia. It is against this backdrop that the government has, despite a sharp projected drop in the rate of economic growth, decided to substantially increase its defense outlays. On April 7, Deputy Finance Minister Tatyana Savelyeva presented a three-year budget to the parliament that envisioned an additional 441 billion tenge (around $1 billion) in spending

Read more at: https://oilprice.com/Latest-Energy-News/World-News/Russias-Invasion-Of-Ukraine-Has-Left-Kazakhstan-On-Edge.html

How Will Chinas New Lockdowns Impact Commodity Prices?

Russias invasion of Ukraine has sent shock waves throughout global metals markets. However, its important to remember that the most consistent longer-term driver of metal prices is Chinese demand. Thats why its surprising to see how little attention has been paid to the worlds largest consumer and producer of metals in recent months. Its understandable for global news networks to focus on the atrocities uncovered in Ukrainian cities. It also makes sense to counter such reports with more encouraging news,

Read more at: https://oilprice.com/Energy/Energy-General/How-Will-Chinas-New-Lockdowns-Impact-Commodity-Prices.html

American Airlines pilots’ union sues carrier over request to help with training on days off

Airlines are racing to hire and train pilots as travel demand surges.

Read more at: https://www.cnbc.com/2022/04/14/american-airlines-pilots-union-sues-carrier-over-requests-to-help-with-training-on-days-off.html

Worried about rising inflation? With nearly risk free I bonds soon to pay 9.62%, here’s what you need to know

I bonds, an inflation-protected and nearly risk-free investment, may soon pay an estimated 9.62% return. Here’s what to know before purchasing.

Read more at: https://www.cnbc.com/2022/04/14/fretting-about-rising-inflation-i-bonds-may-soon-pay-9point62percent.html

Here’s why health savings accounts may contribute to inequality

Certain demographic groups are using health savings accounts in a way that may reinforce and exacerbate existing health inequities, according to a new report.

Read more at: https://www.cnbc.com/2022/04/14/heres-why-health-savings-accounts-may-contribute-to-inequality.html

Stocks making the biggest moves midday: Twitter, Tesla, Goldman Sachs, IBM and more

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

Read more at: https://www.cnbc.com/2022/04/14/stocks-making-the-biggest-moves-midday-twitter-tesla-and-more.html

Sustainable recovery spending could be derailed by commodity price spikes following Ukraine war

Concerns related to both the energy transition and energy security have been heightened by Russia’s invasion of Ukraine.

Read more at: https://www.cnbc.com/2022/04/14/ukraine-war-sees-some-countries-focus-on-food-fuel-not-clean-energy.html

Peloton is raising subscription fees while cutting prices for its Bikes and other equipment

Effective June 1, the price of Peloton’s all-access subscription plan in the United States will go up to $44 per month, from $39.

Read more at: https://www.cnbc.com/2022/04/14/peloton-raises-subscription-fees-cuts-prices-for-bikes-treads.html

Retail sales rose 0.5% in March amid inflation jump; import prices hit 11-year high

Retail sales were expected to increase 0.6% in March, according to Dow Jones estimates.

Read more at: https://www.cnbc.com/2022/04/14/retail-sales-rose-0point5percent-in-march-amid-inflation-jump-import-prices-hit-11-year-high.html

How companies like Amazon, Nike and FedEx avoid paying federal taxes

The U.S. tax code allows some of the biggest company names in the country to not pay any federal corporate income taxes, costing the government billions.

Read more at: https://www.cnbc.com/2022/04/14/how-companies-like-amazon-nike-and-fedex-avoid-paying-federal-taxes-.html

Baby strollers, Ferris wheels and BTS: More tourists are bringing their kids to Las Vegas

Las Vegas has experienced a dramatic rise in the number of people bringing children with them to their Sin City vacations.

Read more at: https://www.cnbc.com/2022/04/14/bts-and-babies-in-las-vegas-more-parents-bringing-kids-to-sin-city.html

Chinese EV maker Nio says it’s gradually resuming production after Covid halt

Nio said it is gradually resuming production several hours’ drive west of Shanghai, after halting production Saturday due to Covid.

Read more at: https://www.cnbc.com/2022/04/14/chinese-ev-maker-nio-says-its-gradually-resuming-production-after-covid-halt.html

Lamborghini customers are now waiting more than 12 months for a car, CEO says

The wait time for a new Lamborghini SUV or super-car is now over 12 months, the automaker’s CEO told CNBC.

Read more at: https://www.cnbc.com/2022/04/14/lamborghini-customers-waiting-more-than-12-months-for-a-car-ceo-says.html

“F**k You” Money

“F**k You” MoneyAuthored by Jack Raines via Young Money,

In a 2018 Esquire interview, essayist and statistician Nassim Taleb gave the following description for the optimal amount of wealth:

Money can’t buy happiness, but the absence of money can cause unhappiness. Money buys freedom: intellectual freedom, freedom to choose who you vote for, to choose what you want to do professionally. But having what I call “f*ck you” money requires a huge amount of discipline. The minute you go a penny over, then you lose your freedom again. If money is the cause of your worry, then you have to restructure your life.

Nassim Taleb

This runs counter to the generally accepted idea of “f*ck you” money.

Read more at: https://www.zerohedge.com/personal-finance/fk-you-money

Russia Confirms Sinking Of Its Black Sea Flagship Moskva

Russia Confirms Sinking Of Its Black Sea Flagship MoskvaUpdate(1607ET): In an afternoon briefing the Pentagon had said Russia’s Moskva warship was still battling a fire, and likely being towed to port after an emergency evacuation of the over 500 crewmembers.

Now the Russian Defense Ministry is for the first time confirming that its Moskva missile cruise ship has sunk, according to RIA. Crucially, the Russians are still denying that Ukraine struck the ship with one more more Neptune anti-ship missiles, as Ukraine’s southern military command is saying. Here’s the statement from RIA:

The missile cruiser “Moskva”, which was damaged due to the detonation of ammunition, sank during towing, the Defense Ministry said.

“During the towing of the Moskva cruiser to the port of destination, the ship lost its stability due to damage to the hull received during the fire from the detonation of ammunition. In the conditions of stormy seas, the ship sank,” the message says.

Strangely, given that this has been among the most closely filmed wars of modern times, there’s so far been nothing in the way of verified footage of either the alleged missile strike, explosions and fire on board, or even the ship’s evacuation and it being towed toward Sevastopol.

Here is the Moskva, then known as the Slava, behind President George H.W. Bush in Malta, where he met with Mikhail Gorbachev in 1989. pic.twitter.com/Ekkk16qZ9E

— Paul Sonne (@ …

Read more at: https://www.zerohedge.com/military/pentagon-confirms-russian-warship-moskva-still-afloat-badly-damaged

“It’s A Shitshow Of Illiquidity Everywhere” – Market Mayhem Strikes Ahead Of Long Weekend

“It’s A Shitshow Of Illiquidity Everywhere” – Market Mayhem Strikes Ahead Of Long WeekendOne quick glance across your screens today and you would think WW3 actually started or Biden died or some such epochal event… but no. Instead, amid some modest softness in retail sales and surging sentiment, the magnitude of movements in bond yields, bitcoin, big-tech & bank stocks, and the dollar appears to have been driven more by positioning and panic than any fundamentals. As one trader – who has traded for more than one business cycle – put it so eloquently to us on MSG:

“It’s a shitshow of illiquidity everywhere… [insert expletive of choice]… and The Fed hasn’t even started actually yanking the rug out yet!!!”

Even the much more ‘well spoken’ Mohamed El-Erian doesn’t know what to make of the vol…

Per this one-week volatility in yields on 2- and 10-year US government bonds:

It’s getting harder to make sense of what normally would be deemed such outsized daily moves. #bonds #economy #markets #EconTwitter pic.twitter.com/nX0CE4xnlA

— Mohamed A. El-Erian (@elerianm) April 14, 20 …

Read more at: https://www.zerohedge.com/markets/its-shitshow-illiquidity-everywhere-market-mayhem-strikes-ahead-long-weekend

The Fed Just Disengaged Its Volatility Suppression Machine

The Fed Just Disengaged Its Volatility Suppression MachineAuthored by Jesse Felder via TheFelderReport.com,

The Fed minutes released last week revealed the central bank intends to start reducing its balance sheet by as much as $95 billion per month beginning in May.

Investors ought to pay very close attention to this development because, for a very long time now, the Fed has effectively used its asset purchase program to suppress volatility across a variety of markets including the equity market.

When the Fed has removed this volatility dampening system in the past, it has regularly led to a series of rolling ructions in the broad stock market. The most recent of these was the 2018-2020 period which began with the Volmageddon episode and ended with the Covid crash upon which the Fed reengaged its volatility suppression program in a massive way.

Considering the fact that the magnitude of these ructions has grown with …

Read more at: https://www.zerohedge.com/markets/fed-just-disengaged-its-volatility-suppression-machine

Elon Musk makes offer to buy Twitter

The boss of Tesla claims he wants to unlock the social media platform’s “extraordinary potential”.

Read more at: https://www.bbc.co.uk/news/business-61104231?at_medium=RSS&at_campaign=KARANGA

Operation Brock: M20 traffic controls scaled back ahead of Easter

Two junctions are reopening on Friday with more due to reopen overnight, National Highways says.

Read more at: https://www.bbc.co.uk/news/uk-england-kent-61113985?at_medium=RSS&at_campaign=KARANGA

Beauty firm L’Occitane keeps Russian stores open

The French cosmetics firm will keep its shops in Russia open but says it is “firmly committed” to Ukraine.

Read more at: https://www.bbc.co.uk/news/business-61096823?at_medium=RSS&at_campaign=KARANGA

Reduce weightage in IT stocks, says HSBC Global; cuts price targets for TCS, Infosys

After providing investors with a massive 40 per cent return in 2021-22, the Nifty IT index is down 5.4 per cent so far this year, and earnings of the two largest companies, TCS and Infosys, have done little to stem the slide.

Read more at: https://economictimes.indiatimes.com/markets/stocks/news/reduce-weightage-in-it-stocks-says-hsbc-global-cuts-price-targets-for-tcs-infosys/articleshow/90847968.cms

ETMarkets Smart Take: Impact of commodity prices may not fully reflect in Q4FY22, says Parag Thakkar of ICICI Pru AMC

“Given that the market valuation is no longer cheap, I would say that the number of bargains available in the market is less.”

Read more at: https://economictimes.indiatimes.com/markets/expert-view/etmarkets-smart-take-impact-of-commodity-prices-may-not-fully-reflect-in-q4fy22-but-in-q1fy23-parag-thakkar-of-icici-prudential-amc/articleshow/90845193.cms

Global risks, weak IT a drag on stocks, but take heart from Bank Nifty, says this analyst

For the week ahead, stock markets could see fresh declines as investors react to disappointing fourth-quarter results by IT heavyweight Infosys, Bhamre said. Index heavyweight HDFC Bank is also set to declare earnings on Saturday, which would drive stock prices.

Read more at: https://economictimes.indiatimes.com/markets/stocks/news/global-risks-weak-it-a-drag-on-stocks-but-take-heart-from-bank-nifty-says-this-analyst/articleshow/90838050.cms

The Ratings Game: Elon Musk says Twitter shareholders should ‘love’ his buyout offer, but Wall Street doesn’t seem to agree

Wall Street analysts and investors don’t seem to “love” Elon Musk’s buyout offer for Twitter Inc. as much as Musk believes they should.

Read more at: http://www.marketwatch.com/news/story.asp?guid=%7B20C05575-04D4-B545-7BFC-97A64DE3F338%7D&siteid=rss&rss=1

: Here’s how Elon Musk’s buyout offer for Twitter stacks up to what he paid for his stake

Elon Musk’s buyout bid for Twitter Inc. represents a nice premium over the price he paid for the large block of shares he already owns, but it might come as a disappointment to those who invested in the social media company just five months ago.

Read more at: http://www.marketwatch.com/news/story.asp?guid=%7B20C05575-04D4-B545-7BF9-821D8EEC890B%7D&siteid=rss&rss=1

Washington Watch: Biden talks up domestic manufacturing’s role in fighting inflation, but some economists aren’t buying it

President Joe Biden speaks at North Carolina A&T on making more in America and bringing down prices, while some economists express doubts about his plan.

Read more at: http://www.marketwatch.com/news/story.asp?guid=%7B20C05575-04D4-B545-7BED-24E1C3CD8777%7D&siteid=rss&rss=1