21Apr2022 Market Close & Major Financial Headlines: Another Down Day For The Markets

Food Prices Are Soaring As Russias War In Ukraine Persists

Vladimir Putins aggression is now believed to be leading to a growing crisis over food insecurity and skyrocketing food prices. Driven up by the war in Ukraine, global food prices hit their highest recorded levels last month. In March, global world food commodity prices reached their highest levels ever, the United Nations Food and Agriculture Organization reported late last week. The FAO Food Price Index was up 12.6% from February when it had already reached its highest level since the agency began tracking in 1990. The latest level

Read more at: https://oilprice.com/Geopolitics/International/Food-Prices-Are-Soaring-As-Russias-War-In-Ukraine-Persists.html

U.S. Administration Frees Up $385M To Help Households With Energy Bills

The Biden Administration will release over $385 million to states to help Americans with their home energy costs through the Low Income Home Energy Assistance Program (LIHEAP), the White House said on Thursday, as President Joe Biden is looking to tame the soaring prices of gasoline and energy amid international prices at multi-year highs. The latest funding, to be made available by the U.S. Department of Health and Human Services (HHS), adds to $4.5 billion in the American Rescue Plan for LIHEAP. In total, the U.S. Administration would be providing

Read more at: https://oilprice.com/Latest-Energy-News/World-News/US-Administration-Frees-Up-385M-To-Help-Households-With-Energy-Bills.html

The Aerospace Industry Is Grappling With A Titanium Supply Shortage

Like other industry insiders, the team here at MetalMiner has paid very close attention to the way international sanctions on Russia are affecting metals markets. When the invasion of Ukraine started, aluminum, zinc, and even steel had been strongly supported. Since early March, those prices have fallen back (as have Russian troops). Despite this, we feel that the titanium market is long overdue for some investigation. Russian & Ukrainian Titanium is Crucial to US Industry Its true that Russian troops have withdrawn from many major cities

Read more at: https://oilprice.com/Metals/Commodities/The-Aerospace-Industry-Is-Grappling-With-A-Titanium-Supply-Shortage.html

How Gas Flaring Fell To The Lowest Level In A Decade

Gas flaring activity in the global upstream sector sunk last year to its lowest level in a decade due to improved productivity, increased environmental awareness, and lower fuel demand caused by Covid-19 lockdowns and travel restrictions, Rystad Energy research shows. Estimates show upstream flaring emitted about 276 million tonnes of carbon dioxide (CO2) in 2021, down marginally from 283 million tonnes in 2020, continuing a downward trend since the onset of the Covid-19 pandemic. Improvements in the US shale sector are a significant driver of

Read more at: https://oilprice.com/Energy/Energy-General/How-Gas-Flaring-Fell-To-The-Lowest-Level-In-A-Decade.html

Indias Coal Supply Shock Causes Major Power Outages

The Indian states of Punjab, Uttar Pradesh and Andhra Pradesh have been forced into blackouts as of Thursday as power supplies are cut off due to a major increase in demand for summer cooling against a backdrop of low coal supplies. India relies on coal for approximately 70% of its electricity generation and often struggles with power outages and even blackouts; however, this summer experts are expecting a more severe crisis in what is shaping up to be the hottest March in a century, Bloomberg reported. In the first half of April, power

Read more at: https://oilprice.com/Latest-Energy-News/World-News/Indias-Coal-Supply-Shock-Causes-Major-Power-Outages.html

U.S. Refiners Plan Rare Move Heading Into Summer

Instead of focusing on boosting the production of gasoline in the summer driving season, this year U.S. refiners will be looking to raise diesel and jet fuel runs, as the global market of distillates is very tight following the Russian war in Ukraine and supports high refinery margins for those products. Refiners prepare to raise diesel and jet fuel production, whose output is currently more profitable than gasoline, according to analysts and traders who spoke to Reuters Laura Sanicola. Its not typical for those fuels

Read more at: https://oilprice.com/Energy/Energy-General/US-Refiners-Plan-Rare-Move-Heading-Into-Summer.html

Goldman’s checking account for the masses nears as bank tests product with U.S. employees

Goldman’s play to manage Americans’ primary transaction hub is one of the significant steps it has taken to compete directly with giants such as Wells Fargo.

Read more at: https://www.cnbc.com/2022/04/21/goldmans-digital-checking-account-nears-as-bank-tests-it-with-us-staff.html

Florida Republicans vote to dissolve Disney’s special district, eliminating privileges and setting up a legal battle

Dissolving the district would mean Reedy Creek employees and infrastructure would be absorbed by the local counties.

Read more at: https://www.cnbc.com/2022/04/21/florida-set-to-dissolve-disneys-reedy-creek-special-district.html

Stocks making the biggest moves midday: United Airlines, AT&T, Tesla and more

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

Read more at: https://www.cnbc.com/2022/04/21/stocks-making-the-biggest-moves-midday-united-airlines-att-tesla-and-more.html

CNN+ will shut down April 30, just one month after launch

WarnerMedia launched the stand-alone news service less than a month ago on March 29.

Read more at: https://www.cnbc.com/2022/04/21/cnn-is-shutting-down-effective-april-30-sources-say.html

A 28-year-old who made $100,000 in passive income ‘in just one day’ shares 5 books that helped her get started

Kat Norton’s software training business, Miss Excel, started out as a side hustle in 2020. Now, Miss Excel brings in over $900,000 in passive income per year. Here are five books she says helped her build confidence and achieve success.

Read more at: https://www.cnbc.com/2022/04/21/28-year-who-who-made-100000-in-passive-income-in-one-day-shares-books-that-helped-her-become-successful.html

Hit with an unexpected tax bill? It’s time to adjust your withholdings

If you had a surprise bill this tax-filing season, it may be time to adjust your withholdings, according to financial experts. Here’s what to know.

Read more at: https://www.cnbc.com/2022/04/21/hit-with-an-unexpected-tax-bill-its-time-to-adjust-your-withholdings.html

CDC panel skeptical of fourth Covid shots for broader population, says U.S. needs clear vaccine strategy

Several committee members said boosting people every four to six months in an effort to prevent Covid infection is not an achievable public health goal.

Read more at: https://www.cnbc.com/2022/04/21/cdc-panel-skeptical-of-fourth-covid-shots-for-broader-population-says-us-needs-clear-vaccine-strategy.html

Lululemon is shooting for the moon, but Wall Street isn’t convinced it can get there

At least one analyst is concerned about potential hiccups in Lululemon’s ambitious blueprint.

Read more at: https://www.cnbc.com/2022/04/21/wall-street-questions-lululemon-2026-financial-targets.html

Watch live: Biden announces massive new aid package for Ukraine

Biden will announce a new military aid package to Ukraine, which is expected to look similar to the $800 million aid package the U.S. released a week ago.

Read more at: https://www.cnbc.com/2022/04/21/watch-live-biden-announces-massive-new-aid-package-for-ukraine-.html

Woman catches Covid twice within 20 days, marking a new record

A health-care worker has reportedly tested positive for the omicron strain of the coronavirus just 20 days after having an infection caused by the delta variant.

Read more at: https://www.cnbc.com/2022/04/21/woman-caught-covid-twice-in-20-days-marking-a-new-record.html

Carl Icahn calls out Wall Street ‘hypocrisy’ over ESG investing in letter to McDonald’s shareholders

Carl Icahn is engaged in animal-welfare battles with McDonald’s and Kroger to push them to require U.S. suppliers to move to “crate-free” pork.

Read more at: https://www.cnbc.com/2022/04/21/carl-icahn-mcdonalds-shareholders-letter-calls-out-wall-street-esg-hypocrisy.html

Starbucks’ union battle is getting aggressive and expensive, and Wall Street is backing away

Starbucks shares have fallen 12% since Howard Schultz took the reins on April 4.

Read more at: https://www.cnbc.com/2022/04/21/starbucks-union-battle-pushes-wall-street-away.html

5 things to know before the stock market opens Thursday

U.S. stock futures rose Thursday, ahead of an afternoon panel discussion including Fed Chairman Jerome Powell.

Read more at: https://www.cnbc.com/2022/04/21/5-things-to-know-before-the-stock-market-opens-thursday-april-21.html

Stocks & Bonds Bloodbath As Fed Drops Hawkish Hammer

Stocks & Bonds Bloodbath As Fed Drops Hawkish HammerThe short-term interest-rate (STIR) market is now pricing in 10 more rate-hikes this year, after St.Louis Fed’s Jim Bullard, SF Fed’s Mary Daly and even Fed Chair Jay Powell dropped the hawkish hammer of evil on silver-lining-seeking equity market investors (seeing multiple 50bps hikes ahead)…

Source: Bloomberg

The market is now fully pricing in a 50bps hike in both the May and the June FOMC meeting (and pricing in a 75% chance of a 50bps hike in July too and a 50% chance of a 50bps hike in September!).

Powell told the audience at an IMF debate that “the US labor market is too hot… unsustainably hot.”

Powell to speak pic.twitter.com/PKB5fvdjsz

— zerohedge (@zerohedge) April 21, 2022

Read more at: https://www.zerohedge.com/markets/stocks-bonds-bloodbath-fed-drops-hawkish-hammer

Russia’s Largest Chemical Plant Engulfed In Flames Hours After Mystery Fire At Military Research Facility

Russia’s Largest Chemical Plant Engulfed In Flames Hours After Mystery Fire At Military Research FacilityUpdate(1540ET): The death toll in the massive fire that broke out earlier in the day at a sensitive Russian Defense Ministry research facility in the city of Tver has risen to seven after emergency crews battled the Thursday blaze throughout the afternoon, state-run TASS reports.

The cause of the fire is still either unknown or not being disclosed by Russian state agencies at this point, but now more questions are being raised as another mysterious large blaze has erupted, this time at Russia’s largest chemical plant, a mere hours after the fire in Tver – the latter which had engulfed a facility belonging to the secretive Central Research and Development Institute of Aerospace Defense Troops. UK media is reporting on the latest mystery fire, which marks the 2nd in the day, as follows:

Huge plumes of smoke were seen enveloping the Dmitrievsky Chemical Plant late this afternoon. The cause of the fire remains unknown. Almost 150 plant workers were reportedly evacuated.

The facility in Kineshma, east of Moscow produces more industrial solvents than any other in Russia. It is less than 1,000km from the border with Ukraine.

Read more at: https://www.zerohedge.com/geopolitical/large-deadly-fire-breaks-out-russian-defense-research-facility

Russia Closes Multiple Baltic Consulates – Cites Arms Transfers To Ukraine

Russia Closes Multiple Baltic Consulates – Cites Arms Transfers To UkraineWe detailed previously that since the Feb.24 invasion of Ukraine, Europe has booted at least 300 total Russian diplomatic officials from their host countries, as retaliation for Russia’s aggression but also based on broad accusations of “spying”. In a recent tit-for-tat move Russia announced Tuesday that it will expel 36 European diplomats from its soil, declaring 21 diplomats from Belgium and 15 from the Netherlands “persona non grata”. They’ve been given two weeks to leave Russian soil.

And on Thursday, the Kremlin has taken a further dramatic step, ordering the closure of three Baltic consulates while expelling all non-Russian staff. The closures have been ordered for consulates in Estonia, Latvia and Lithuania – citing among the reasons “military assistance to the Kyiv regime.”

Baltic states’ flags, via LRT …

Read more at: https://www.zerohedge.com/geopolitical/russia-closes-multiple-baltic-consulates-cites-arms-transfers-ukraine

Biden To Attack Republicans For Not Having A Plan To Bring Down Inflation

Biden To Attack Republicans For Not Having A Plan To Bring Down InflationAuthored by Mike Shedlock via MishTalk.com,

Let’s discuss plans to bring down inflation. Who has one and who doesn’t.

No Plan to Deal With InflationAccording to Eugene Daniels, a White House correspondent for Politico, Biden will go after Republicans for not having a plan to deal with inflation.

“Expect Biden to step up his attacks on the GOP. An administration official told Eugene this weekend that we can expect to see Biden be a bit tougher on Republicans for taking credit for an infrastructure bill that some voted against, and for not having a plan to bring down inflation.”

Hoot of the DayThat wins my hoot of the day award easily. I thought about having a Hoot of the Month, but there is still time left for something even more ridiculous.

History …

Read more at: https://www.zerohedge.com/political/biden-attack-republicans-not-having-plan-bring-down-inflation

Work from home to beat Putin, says EU

Plan urges citizens to cut energy use to reduce money flowing to Russia

Read more at: https://www.bbc.co.uk/news/business-61179640?at_medium=RSS&at_campaign=KARANGA

$50bn wiped off Netflix’s value as subscribers quit

Shares in the streaming service company slumped 35% as it warned of tough times ahead.

Read more at: https://www.bbc.co.uk/news/business-61173561?at_medium=RSS&at_campaign=KARANGA

KitKat maker Nestle warns of further price rises

The Swiss food giant says it will continue to raise the prices of its products as food costs surge.

Read more at: https://www.bbc.co.uk/news/business-61168759?at_medium=RSS&at_campaign=KARANGA

We are bullish on pharma and manufacturing themes: Nilesh Shah

“Every SIP investor had to go through agnipariksha (ordeal by fire) in March 2020. Having passed through that agnipariksha, today we are seeing double digit returns across three, five and seven and 10 years. As of today, we are bullish on the pharma sector. We believe the undervaluation will come into play and earning as well as PE will get upgraded. We are bullish on industrial and capital goods along with PLI and China plus one – a combined manufacturing theme. ”

Read more at: https://economictimes.indiatimes.com/markets/expert-view/we-are-bullish-on-pharma-and-manufacturing-as-a-theme-nilesh-shah/articleshow/90981434.cms

Market movers: ED pays visit to Jindal Steel’s office; Paras Defence to get PLI benefits

News reports said the agency launched its investigation early in the morning. The agency has been investigating whether or not foreign exchange laws were violated in operating bank accounts in Singapore, based on a tip-off by the Singapore Financial Intelligence Unit.

Read more at: https://economictimes.indiatimes.com/markets/stocks/market-movers-ed-pays-visit-to-jindal-steels-office-paras-defence-to-get-pli-benefits/articleshow/90984700.cms

Up 430% from 52-week low, where is Angel One headed after Q4 results?

The broking firm added 15 lakh gross clients for the quarter, up 54 per cent YoY, taking the total gross addition to 53 lakh in FY22. Less than 2-year-old clients contributed 76 per cent of brokerage revenue in the March quarter. The active client ratio improved to 40.2 per cent from 39.7 per cent in the December quarter.

Read more at: https://economictimes.indiatimes.com/markets/stocks/news/up-430-from-52-week-low-where-is-angel-one-headed-after-q4-results/articleshow/90975674.cms

: Qualtrics subscription revenue jumps 50%, stock rises after earnings beat

“Every CEO wants to deepen their relationship with customers and employees,” Qualtrics Chief Executive Zig Serafin told MarketWatch.

Read more at: http://www.marketwatch.com/news/story.asp?guid=%7B20C05575-04D4-B545-7C29-A012F0C057C1%7D&siteid=rss&rss=1

The Tell: Libya oil production outage a ‘convenient coincidence’ that helps Russia: analyst

Blockades on major oilfields and export terminals are costing Libya — and the global oil market — around 550,000 barrels a day of crude, a boon for Moscow.

Read more at: http://www.marketwatch.com/news/story.asp?guid=%7B20C05575-04D4-B545-7C3D-CF684965E628%7D&siteid=rss&rss=1

Realtor.com: ‘The Marvelous Mrs. Maisel’ Star Tony Shalhoub Lists Fantastic NYC Apartment

In “The Marvelous Mrs. Maisel,” Tony Shalhoub plays Abe Weissman, a math professor who lives in a sprawling apartment on Manhattan’s Upper West Side.

Read more at: http://www.marketwatch.com/news/story.asp?guid=%7B20C05575-04D4-B545-7C3E-3DB862753A22%7D&siteid=rss&rss=1