The Next Gold Rush: Lithium Surge Creates New Investment Opportunities

The U.S. doubled imports of lithium-ion batteries for the third consecutive year in 2022, and with EV demand growing yearly, U.S. lithium mines must ramp up production or rely on other nations for their supply of refined lithium. To determine if the domestic U.S. lithium opportunity can meet demand, Visual Capitalist partnered with EnergyX to determine how much lithium sits within U.S. borders.  U.S. Lithium Projects The most crucial measure of a lithium mine’s potential is the quantity that can be extracted from the source. Related: Cesium…

Read more at: https://oilprice.com/Metals/Commodities/The-Next-Gold-Rush-Lithium-Surge-Creates-New-Investment-Opportunities.html

Afghanistan’s Qosh Tepa Canal Project Faces Scrutiny After Water Leak

A mysterious spill is fanning fears across Central Asia about the construction of a canal in northern Afghanistan. The Taliban government in Kabul is vowing to press ahead with the project, which it insists will ease food insecurity for millions of Afghans. But many in neighboring Central Asian states view the Qosh Tepa Canal as an environmental hazard. Construction on the canal started in the spring of 2022. The second phase of the project got underway in late February, according to Taliban officials. Once completed, Qosh Tepa will siphon water…

Read more at: https://oilprice.com/Geopolitics/International/Afghanistans-Qosh-Tepa-Canal-Project-Faces-Scrutiny-After-Water-Leak.html

Biden May Lift LNG Export Ban To Win Ukraine Aid

Markets are impatiently awaiting a decision from the White House that could see the ban on new LNG export projects lifted as the Biden administration seeks leverage in winning Republican approval for an extensive aid package to Ukraine, Reuters reports. Late on Tuesday, Reuters reported that the White House was considering a reversal of its late January decision to pause new LNG export projects, with two anonymous White House sources saying that lifting the ban could be rewarded with Congressional approval for new aid to Ukraine in its conflict…

Read more at: https://oilprice.com/Latest-Energy-News/World-News/Biden-May-Lift-LNG-Export-Ban-To-Win-Ukraine-Aid.html

Breakthrough in OLED Technology Could Revolutionize Tech Displays

A University of St. Andrews managed new multidisciplinary research could lead to more efficient televisions, computer screens and lighting. Researchers at the Organic Semiconductor Centre in the School of Physics and Astronomy, and the School of Chemistry have proposed a new approach to designing efficient light-emitting materials in a paper published last week in Nature. Light-emitting materials are used in organic light-emitting diodes (OLEDs) that are now found in the majority of mobile phone displays and smartwatches, and some televisions and…

Read more at: https://oilprice.com/Energy/Energy-General/Breakthrough-in-OLED-Technology-Could-Revolutionize-Tech-Displays.html

BofA Sees Summer Oil Price Peak at $95 Per Barrel

With Brent crude oil closing in on $90 per barrel on Wednesday, Bank of America energy analysts have boosted their price forecast for this year to average $86 per barrel and peak this summer at $95 per barrel. Citing an improving global economic outlook and tightening inventories, Bank of America is sees Brent crude averaging $86 per barrel, up from its earlier forecast of $80, and the U.S. crude oil benchmark, West Texas Intermediate (WTI), averaging $81 per barrel, up from its previous forecast of $75 per barrel. The predicted summer peak of…

Read more at: https://oilprice.com/Latest-Energy-News/World-News/BofA-Sees-Summer-Oil-Price-Peak-at-95-Per-Barrel.html

Shell Said to Be Seeking Long-Term Venezuela License

Reuters reports that the Dutch supermajor Shell is seeking a long-term license from Washington before making a final investment decision on Venezuela’s Dragon natural gas project.  Citing two anonymous sources, Reuters said  Shell was seeking a 15-year license to develop the field, hoping for a positive decision, even further down the road, before investing $1 billion. Currently, there is a two-year license that was issued in January 2023.  Reuters was unable to obtain comment from Shell, the U.S. Treasury Department or the…

Read more at: https://oilprice.com/Latest-Energy-News/World-News/Shell-Said-to-Be-Seeking-Long-Term-Venezuela-License.html

China’s Iron and Steel Association Calls for Production Cut to Stabilize Market

The fear expressed by institutional analysts at the start of the year that 2024 will see some degree of volatility on the iron ore price front seems to be coming true. On April 1, the beginning of the second fiscal quarter, iron ore prices fell to a ten-month low. Costs for the raw steel-making material dipped by 3.9% to U.S. $96.25 a ton on the Singapore Exchange in early trade before recovering. In the last quarter, ore prices had a rough ride as investors tried to combat the fallout from weaker Chinese real estate sector demand. Some experts…

Read more at: https://oilprice.com/Metals/Commodities/Chinas-Iron-and-Steel-Association-Calls-for-Production-Cut-to-Stabilize-Market.html

Gold Prices Have Surged 23.3% in the Last Six Months

Gold and precious metal funds swept performance tables in March, taking eight of the top ten positions throughout the month. “There was only one story last month – gold,” said Ben Yearsley, director of Fairview Investing. “With the price of an ounce rising almost 10 percent in March, it’s no surprise seeing gold equities finally coming to the party.” In total, gold prices have risen 23.3 percent over the last six months. The two other funds in the top ten were global value fund Price Value Portfolio, which rose…

Read more at: https://oilprice.com/Metals/Gold/Gold-Prices-Have-Surged-233-in-the-Last-Six-Months.html

Oil Market Set to Tighten as OPEC+ Sticks With Production Cuts

The OPEC+ group is set to continue with its production cuts until at least the end of the first half of 2024 as the alliance’s Joint Ministerial Monitoring Committee (JMMC) did not recommend any changes to output policy at its meeting on Wednesday.  The JMMC is the OPEC+ panel that monitors the situation in the oil market and assesses compliance with the cuts. It doesn’t take decisions on policy as it just recommends possible actions to the full OPEC+ ministerial meetings. After a short regular meeting today, the panel did not…

Read more at: https://oilprice.com/Latest-Energy-News/World-News/Oil-Market-Set-to-Tighten-as-OPEC-Sticks-With-Production-Cuts.html

Oil Moves Higher on Fuel Inventory Draws

Crude oil prices rose today after the Energy Information Administration reported an inventory build of 3.2 million barrels for the last week of March. The authority also estimated draws in both gasoline and middle distillates. This compared with an oil inventory build of 3.2 million a week earlier, which pushed prices lower at the time. It also compared with an inventory draw of 2.3 million barrels as estimated by the American Petroleum Institute earlier this week. Gasoline inventories, however, shed 4.3 million barrels…

Read more at: https://oilprice.com/Energy/Crude-Oil/Oil-Moves-Higher-on-Fuel-Inventory-Draws.html

Dutch Senate Puts Off Vote to Shut Groningen Gas Field for Good

The Dutch Senate has delayed a vote on the permanent closure of the Groningen gas field, which is set for October 1 due to earthquakes in the area, as several parties have asked for guarantees that the shutdown would not threaten the country’s energy security.    The Groningen gas field was planned to be turned off on October 1, 2023, and permanently closed this coming October, the government of the Netherlands said last summer. The fields were expected to remain in operational status for another year just in…

Read more at: https://oilprice.com/Latest-Energy-News/World-News/Dutch-Senate-Puts-Off-Vote-to-Shut-Groningen-Gas-Field-for-Good.html

Xiaomi’s EV Launch Shakes Up China’s Auto Industry

Xiaomi’s marketing efforts have made a significant impact in the highly competitive EV market.The Xiaomi SU7 EV launch was such a resounding success that the vehicle sold out of all of its 2024 inventory within a span of 24 hours, according to InsideEVs. The automaker is the latest to throw its hat in the fray and make a grab for marketshare in China, alongside of leaders BYD and Tesla.  Xiaomi’s stock raged higher in Hong Kong on the news heading into Tuesday’s U.S. market open, which was preceded by Tesla missing its Q1 delivery guidance…

Read more at: https://oilprice.com/Energy/Energy-General/Xiaomis-EV-Launch-Shakes-Up-Chinas-Auto-Industry.html

OPEC+ Committee Calls on Members to Compensate for Overproduction

The Joint Ministerial Monitoring Committee (JMMC), the OPEC+ panel that monitors oil market developments and the group’s production cuts, didn’t recommend on Wednesday any changes to output policy but noted that compliance with the cuts needs to improve. The JMMC held a brief regular meeting today and, as widely expected, did not recommend to the OPEC+ ministers to change the current levels of oil production cuts. However, the panel, which doesn’t decide policy but only recommends a course of action to the ministers,…

Read more at: https://oilprice.com/Latest-Energy-News/World-News/OPEC-Committee-Calls-on-Members-to-Compensate-for-Overproduction.html

China Set to Scrap Natural Gas Price Caps to Support Distributors

China’s top economic planning body has asked major natural gas distributors and local authorities to remove the fixed price caps for households by September, sources familiar with the discussions have told Bloomberg. The move is aimed at supporting China’s natural gas distributors, many of which have seen profits evaporate amid high import prices for LNG but a cap on household prices. So far, these distributors have not been able to pass on the higher costs of importing the gas to consumers.   The removal of the price cap…

Read more at: https://oilprice.com/Latest-Energy-News/World-News/China-Set-to-Scrap-Natural-Gas-Price-Caps-to-Support-Distributors.html

South Africa Risks Thousands of Deaths if Coal-Fired Power Plants Remain Open

South Africa could see additional up to 50,000 deaths due to air pollution and billions of U.S. dollars in health costs if a proposal to delay the decommissioning of coal-fired power plants goes through, a Finland-based research center says. South Africa, one of the world’s largest coal producers and exporters, continues to rely on coal for a large part of its energy mix. Currently, some 85% of South Africa’s electricity is generated via coal-fired power stations. Crippled by an energy crisis for several years, the country…

Read more at: https://oilprice.com/Latest-Energy-News/World-News/South-Africa-Risks-Thousands-of-Deaths-if-Coal-Fired-Power-Plants-Remain-Open.html

Fed’s Powell emphasizes need for more evidence that inflation is easing before cutting rates

Federal Reserve Chairman Jerome Powell said Wednesday it will take a while for policymakers to evaluate the current state of inflation.

Read more at: https://www.cnbc.com/2024/04/03/feds-powell-emphasizes-need-for-more-evidence-that-inflation-is-easing-before-cutting-rates.html

Disney wins proxy fight against activist investor Nelson Peltz, as shareholders reelect full board

Trian Capital has waged a proxy fight against Disney to land two board seats. Disney shareholders rejected the effort.

Read more at: https://www.cnbc.com/2024/04/03/disney-annual-meeting-shareholders-vote-on-nelson-peltz-and-bob-iger.html

Dow closes lower for a third day as stocks’ second-quarter woes continue: Live updates

The S&P 500 hovered near flat Wednesday as the market tried to move past early-Q2 jitters.

Read more at: https://www.cnbc.com/2024/04/02/stock-market-today-live-updates.html

Amazon cuts hundreds of jobs in cloud computing unit

The cuts affect hundreds of staffers in AWS’ store technology and sales and marketing units.

Read more at: https://www.cnbc.com/2024/04/03/amazon-layoffs-hundreds-of-jobs-cut-in-cloud-computing-unit.html

Here are the top picks from rising hedge fund stars at Sohn, including one that could nearly double

Sohn, one of the most anticipated hedge fund events of the year, kicks off with Next Wave Sohn, a session featuring ideas from rising stars in the industry.

Read more at: https://www.cnbc.com/2024/04/03/here-are-the-top-picks-from-rising-hedge-fund-stars-at-sohn-including-one-that-could-nearly-double.html

David Einhorn thinks inflation is reaccelerating and has made gold a very large position

The Greenlight Capital president believes “fewer than three” interest rate cuts will take place.

Read more at: https://www.cnbc.com/2024/04/03/david-einhorn-thinks-inflation-is-reaccelerating-and-has-made-gold-a-very-large-position.html

Intel drops 8% after chipmaker reports hefty loss in foundry business

Intel shares closed down 8% after the company disclosed long-awaited financials for its foundry business, revealing an operating loss of $7 billion in 2023.

Read more at: https://www.cnbc.com/2024/04/03/intel-drops-almost-8percent-after-chipmaker-reports-hefty-loss-in-foundry-business.html

Apple reportedly exploring personal home robots

Apple is exploring the development of personal home robots after it ditched its electric vehicle project, Bloomberg reported Wednesday.

Read more at: https://www.cnbc.com/2024/04/03/apple-exploring-personal-home-robots-report.html

Bitcoin holds at $65,000, and ARK’s bitcoin ETF sees $87 million in outflows: CNBC Crypto World

CNBC Crypto World features the latest news and daily trading updates from the digital currency markets and provides viewers with a look at what’s ahead with high-profile interviews, explainers, and unique stories from the ever-changing crypto industry. On today’s show, Caitlin Long, founder and CEO of Custodia Bank, reacts to the dismissal of the company’s lawsuit against the Federal Reserve.

Read more at: https://www.cnbc.com/video/2024/04/03/bitcoin-holds-65000-arks-bitcoin-etf-87-million-outflows-crypto-world.html

Amazon ditches cashierless checkout system at its grocery stores

The company said it won’t include the system, called Just Walk Out, in existing Fresh stores or new locations, and will instead rely more heavily on Dash Carts.

Read more at: https://www.cnbc.com/2024/04/03/amazon-ditches-cashierless-checkout-system-at-its-grocery-stores.html

Costs at some colleges nearing $100,000 per year, but many families pay a lot less

The list prices at some colleges are nearing six figures; however, thanks to financial aid programs, the net cost can end up being much less.

Read more at: https://www.cnbc.com/2024/04/03/costs-at-some-colleges-near-100000-a-year-many-families-pay-a-lot-less.html

Trump Media sues its co-founders, accuses them of ‘severe mismanagement’

The Trump Media lawsuit in Florida civil court seeks to bar Wesley Moss and Andrew Litinsky from naming any board members — or from owning any shares.

Read more at: https://www.cnbc.com/2024/04/02/trump-media-sues-its-co-founders-accuses-them-of-severe-mismanagement.html

Private payrolls increased by 184,000 in March, better than expected, ADP says

Private sector job growth expanded in March at its fastest pace since July 2023, ADP reported Wednesday.

Read more at: https://www.cnbc.com/2024/04/03/private-payrolls-increased-by-184000-in-march-better-than-expected-adp-says.html

Gold Closes At Record High For 5th Straight Day, Dollar Dumps As Bond Bloodbath Stalls

Another mixed bag of data today – something for everyone – ADP showed better job gains than expected (but wage growth soared, re-igniting inflation fears). S&P Global’s Services PMI dropped (but prices paid soared) and ISM Services PMI also dropped (notably more than expected) while Manufacturing rose yesterday.

But the market only had eyes for one thing – the plunge in prices paid in ISM Services (which literally diverged from all other recent ‘prices paid’ surveys and the respondents’ comments)…

Source: Bloomberg

For context, that is the biggest two-month plunge in ISM Services Prices Paid since Dec 2008…

Read more at: https://www.zerohedge.com/markets/gold-closes-record-high-5th-straight-day-dollar-dumps-bond-bloodbath-stalls

Apple Developing Robot As “Next Big Thing” After Dumping Electric Car Project

After shocking its fans – and everyone else – with the recent decision to give up on developing an electric car after sinking billions of dollars into the now defunct project, Apple – perhaps deciding to quietly move on beyond the neck brace also known as the Vision Pro – has set its sights on a new “next big thing”: according to Bloomberg, Tim Cook’s company – which is currently being sued by the DOJ for being a monopolist – is pushing into personal robotics, “a field with the potential to become one of the company’s ever-shifting “next big things,” according to people familiar with the situation.”

According to the report, Apple’s engineers have stolen Elon Musk’s Optimus concept come up entirely on their own with the truly original and unique idea of pursuing a mobile robot that can follow users around their homes. It wasn’t clear if the code name of the robot is iOptimus. The iPhone maker also has developed an advanced table-top home device that uses robotics to move a display around. We hope this won’t be called the iEchoShow.

Having been accused – accurately – by pretty much everyone that it hasn’t come up with an original idea since Steve Jobs died (sorry, but buybacks and moar buybacks doesn’t count), Apple is under growing pressure to find new sources of revenue, and while this effort is in its early stages – and it’s unclear if the products will ultimately be released – it seems that we now have a race on for the first company to release the real-world version of the T-800.

Read more at: https://www.zerohedge.com/markets/apple-developing-robot-next-big-thing-after-dumping-electric-car-project

Saturdays Only For “People Of Color” At UC Berkeley Farm; Report

Authored by Micaiah Bilger via The College Fix,

Federal complaint accuses university of racial discrimination…

A community farm run by the University of California at Berkeley only allows “people of color” to participate on Saturdays, according to a new federal complaint.

The report to the Department of Education accuses the Gill Tract Community Farm of racial discrimination in violation of Title VI.

Run by the public university, the farm is a research, education, and extension project “focused on ecological farming and food justice,” according to its website. It welcomes the public to harvest food if they “help with weeding, planting, and watering.”

However, the Mountain States Legal Foundation, which filed the complaint last week, said the …

Read more at: https://www.zerohedge.com/political/saturdays-only-people-color-uc-berkeley-farm-report

Biden Halts Attempts To Refill SPR As Oil Price Soars

More than a year ago, we laughed at the thought that the Biden admin would actually follow through with its promise to refill the Strategic Petroleum Reserve when oil fell below $80, which in turn prompted area idiots to really rub it in our face when WTI tumbled as low as $73.

WTI is $73 now https://t.co/lqzYBr9S9Q

— Joe Weisenthal (@TheStalwart) November 16, 2023

In retrospect we were, of course, right (and area idiots will continue failing upward until finally someone gives them the old rugpull) because even though WTI did indeed spend a few months below $80 before exploding back up again, this is how much oil the Biden admin purchased to refill the SPR after it intentionally drained it in 2022 to limit the surge in gas prices. Can’t see it? It’s highlighted in the yellow circle (yeah, no wonder you can’t see it).

Read more at: https://www.zerohedge.com/markets/biden-halts-attempts-refill-spr-oil-price-soar

Food price fears as Brexit import charges revealed

Fees of up £145 will be levied on imports of fish, salami, sausage, cheese and yoghurt, the government says.

Read more at: https://www.bbc.co.uk/news/business-68726852

Royal Mail wants to cut days for second-class post

Royal Mail has set out proposals aimed at cutting costs due to the volume of letters declining.

Read more at: https://www.bbc.co.uk/news/business-68721814

Rail body wants staff to be ‘amateur meteorologists’

Network Rail aims to train hundreds of staff as it tries to tackle the effects of climate change.

Read more at: https://www.bbc.co.uk/news/business-68721690

How to trade Cochin Shipyard, Adani Power and Nalco on Thursday

Sensex and Nifty settled lower for the second straight session on Wednesday. Sensex declined by 27 points. Nifty holds 22,400 level. Sectorally, buying was seen in utilities, power, public sector and IT stocks while realty, auto, and FMCG stocks saw some selling pressure.

Read more at: https://economictimes.indiatimes.com/markets/stocks/news/technical-breakout-stocks-how-to-trade-cochin-shipyard-adani-power-and-nalco-on-thursday/articleshow/109008595.cms

NSE to introduce 4 new indices in capital, F&O segments from April 8

The Nifty Tata Group 25% Cap index consists of 10 companies, and is based on the free float market cap method, NSE said. The Nifty500 Multicap India Manufacturing 50:30:20 Index will track the performance of select largecap, midcap, and smallcap stocks from the Nifty 500 index that represent the manufacturing theme.

Read more at: https://economictimes.indiatimes.com/markets/stocks/news/nse-to-introduce-4-new-indices-in-capital-fo-segment-from-april-8/articleshow/109009479.cms

Eyeing luxury goods? Here’s how much returns they have given vs S&P

Some of the world’s ultra-wealthy spend their money on luxury goods such as fine wine or one-of-a-kind art pieces as a passion, but others consider them investments — and their returns do often pay off.Over the past 10 years, rare whisky has been the best-performing luxury asset, appreciating 280% and even besting the S&P 500’s gains. Here’s how luxury goods have performed over 10 years relative to the S&P 500. (Source: TOI)

Read more at: https://economictimes.indiatimes.com/markets/stocks/news/eyeing-luxury-goods-heres-how-much-fancy-returns-they-have-given-vs-sampp-500/minting-money/slideshow/109009444.cms

Options traders see rising risk of Fed rate hike following oil rally, solid U.S. data

A combination of healthy economic data and a rally in oil is renewing the risk of what one major Wall Street bank calls a “hawkish negative surprise” by the Federal Reserve and other central banks.

Read more at: https://www.marketwatch.com/story/options-traders-see-rising-risk-of-fed-rate-hike-following-oil-rally-solid-u-s-data-0539f603?mod=mw_rss_topstories

Oil, gold and the dollar are surging. Here’s why that could derail the Fed’s rate-cut outlook.

A global economic recovery is fueling a blistering commodities rally in 2024 — threatening to derail the Federal Reserve’s efforts to curb inflation and potentially clouding its path to cutting interest rates by mid-year, according to market strategists.

Read more at: https://www.marketwatch.com/story/why-oil-gold-and-the-dollar-are-all-surging-and-why-that-could-cloud-the-feds-rate-cut-outlook-3105de14?mod=mw_rss_topstories

The company he keeps: How an investor got nabbed insider trading on Trump’s DJT stock merger

The insider-trading move that nearly scotched the recent multi-billion-dollar merger of Donald Trump’s media business with a blank-check company began to unravel following an ill-conceived phone call.

Read more at: https://www.marketwatch.com/story/the-company-he-keeps-how-an-investor-got-nabbed-insider-trading-on-trumps-djt-stock-merger-da6bc81a?mod=mw_rss_topstories