27May2022 Market Close & Major Financial Headlines: Dow’s Six Day Rally Closes At Session’s High, S&P 500 Closes Higher For Best Week Since November 2020

U.S. Seizes Russian Tanker Full Of Iranian Crude Near Greece

Fresh off of the US targeting a series of companies involved in an Iran-linked oil smuggling network, the US has now seized an oil tanker near Greece, taking the Iranian oil within to be sent to the US. The oil was on a Russian-operated ship, which had been singled out for US targeting in February. It was then called the Pegas. The company renamed the ship the Lana and was Russian flagged. Greece had impounded the Pegas and its Russian crew last month over the invasion of Ukraine but ultimately released it. Neither the US nor Russia is commenting.

Read more at: https://oilprice.com/Latest-Energy-News/World-News/US-Seizes-Russian-Tanker-Full-Of-Iranian-Crude-Near-Greece.html

Oil Prices Are Set To Surge Even Higher This Summer

The combination of limited new supply options, increasing risks to traditional supply, and growing demand around the world, is set to send oil prices even higher this summer. Oilprice Alert: This month’s Intelligent Investor column, now available for global Energy Alertmembers, highlights two oil and gas pipeline stocks that could provide strong income for investors. If you’re an investor in the energy space then now is the time to sign up for global Energy Alert. Friday, May 27th, 2022Oil prices have been edging higher

Read more at: https://oilprice.com/Energy/Energy-General/Oil-Prices-Are-Set-To-Surge-Even-Higher-This-Summer.html

Putin Assures Austria Gas Deliveries, Ready To Talk Prisoner Swap With Ukraine

Russian President Vladimir Putin reported to Austria on Friday that Russia would meet its natural gas delivery commitments and was ready to negotiate a prisoner swap with Ukraine, according to Reuters. President Putin told Austrian Chancellor Karl Nehammer over the phone that all gas deliveries would be completed in full. The Kremlin made a similar statement, saying that it would continue to fulfill contractual obligations on its natural gas deliveries to Austria. Austria gets 80% of its natural gas from Russia, and it could take years for Austria

Read more at: https://oilprice.com/Latest-Energy-News/World-News/Putin-Assures-Austria-Gas-Deliveries-Ready-To-Talk-Prisoner-Swap-With-Ukraine.html

Three Bullish Factors That Could Send Oil To $120

U.S. West Texas Intermediate crude oil futures are trading nearly flat on Friday, while continuing to hover near its more than two-month high. Helping to underpin prices is the prospect of a European Union (EU) ban on Russian energy products and expectations of tighter U.S. gasoline supplies. Two Factors Attracting the Most Attention The focus for traders this week has been supply. And two events have garnered most of the attention: The possible ban on Russian crude exports and the significant tightness in U.S. product inventories. The EU

Read more at: https://oilprice.com/Energy/Energy-General/Three-Bullish-Factors-That-Could-Send-Oil-To-120.html

When Will U.S. Crude Production Return To Pre-Pandemic Levels?

1. China Cedes Top LNG Buyer Spot to Japan Amid Weak Demand- China’s LNG imports in 2022 are on track to record their first major decline since 2006, as high spot prices and weak domestic demand coming from the manufacturing sector cooled down purchasing activity. – Whilst China’s appetite for LNG was primarily coming from the government’s willingness to switch away from coal, Beijing has now come full circle and has been maximizing coal output, environmental concerns notwithstanding. – Piped natural gas from Russia and Turkmenistan,

Read more at: https://oilprice.com/Energy/Energy-General/When-Will-US-Crude-Production-Return-To-Pre-Pandemic-Levels.html

Why Kissinger Was Wrong To Tell Ukraine To Cede Territory

Politics, Geopolitics & Conflict Henry Kissinger made headlines at Davos when he said what we suspected many of the more sinister actors were thinking for some time now: Ukraine should give part of its territory to Russia to end the war. It would be the most immediately easy thing to do. As Zelensky suggested upon hearing this, Kissinger should return to 1938and stay there. Giving Russia a part of Ukraine (much like everyone did in 2014) would simply lead to another land grab in the near future. If the annexation of Crimea in 2014 wasn’t

Read more at: https://oilprice.com/Energy/Energy-General/Why-Kissinger-Was-Wrong-To-Tell-Ukraine-To-Cede-Territory.html

Glam makeup and dressing up are back – and that’s benefiting retailers like Macy’s and Ulta

As Americans splurge on nicer clothes and makeup to go out again, retailers like Macy’s and Ulta are benefiting.

Read more at: https://www.cnbc.com/2022/05/27/as-americans-splurge-on-dressing-up-again-retailers-like-macys-and-ulta-benefit.html

3 takeaways from Dollar General, Dollar Tree earnings that sent stocks soaring

Dollar Tree and Dollar General boosted their outlook for the year, noting that shoppers squeezed by inflation will seek cheaper prices.

Read more at: https://www.cnbc.com/2022/05/26/dollar-general-dollar-tree-boost-outlook-as-consumers-grapple-with-inflation.html

Tom Cruise sets his sights on his first $100 million domestic opening with ‘Top Gun: Maverick’

This weekend Tom Cruise has a chance to do something he’s never done before — have a film open to more than $100 million at the domestic box office.

Read more at: https://www.cnbc.com/2022/05/25/top-gun-maverick-could-be-tom-cruise-first-100-million-opening-weekend.html

Mansions in Boca Raton are commanding Miami Beach prices. Here’s a look inside

Ultra-high-end real estate in Boca Raton, Florida, is on a stratospheric rise, breaking record sale prices every year for five consecutive years.

Read more at: https://www.cnbc.com/2022/05/27/a-look-inside-the-boca-raton-mansions-commanding-miami-beach-prices.html

Home listings suddenly jump as sellers worry they may miss out on the red-hot housing market

With home sales slowing and mortgage rates rising, home sellers are starting to worry that the red-hot housing market is over.

Read more at: https://www.cnbc.com/2022/05/26/home-listings-suddenly-spike-as-sellers-worry-theyll-miss-out-on-red-hot-market.html

Memorial Day weekend car shopping is looking ‘pretty bleak.’ Here’s what to expect

Special sales among dealerships are minimal to nonexistent amid low inventory, sending many buyers to used-car lots, where prices remain elevated.

Read more at: https://www.cnbc.com/2022/05/27/memorial-day-weekend-car-shopping-is-looking-pretty-bleak-.html

Stocks making the biggest moves midday: Ulta Beauty, Big Lots, Autodesk, Workday and more

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

Read more at: https://www.cnbc.com/2022/05/27/stocks-making-the-biggest-moves-midday-ulta-beauty-big-lots-autodesk-workday-and-more.html

Judge dismisses Trump federal lawsuit against New York Attorney General Letitia James over her probe of business

Ex-President Donald Trump and his company are being investigated by New York Attorney General Letitia James over valuations of real estate assets.

Read more at: https://www.cnbc.com/2022/05/27/judge-dismisses-trump-lawsuit-against-new-york-attorney-general-james.html

Walgreens, Amazon and Wawa find success with the most-overlooked unemployed worker

Neurodiverse adults with conditions including autism, ADHD, dyspraxia, dyslexia are finding jobs at businesses large and small, and are an untapped labor pool.

Read more at: https://www.cnbc.com/2022/05/27/walgreens-amazon-wawa-find-success-with-most-often-unemployed-worker.html

Carl Icahn loses proxy fight with McDonald’s over animal welfare

Activist investor Carl Icahn lost his proxy fight with McDonald’s on Thursday, signaling that shareholders weren’t swayed by his animal-welfare concerns.

Read more at: https://www.cnbc.com/2022/05/26/carl-icahn-loses-proxy-fight-with-mcdonalds-over-animal-welfare.html

Gap shares tumble nearly 20% after retailer slashes profit guidance for the year

The lower-income consumer, which is Old Navy’s target customer, is starting to feel pinched by inflation, Chief Executive Officer Sonia Syngal told CNBC.

Read more at: https://www.cnbc.com/2022/05/26/gap-gps-reports-q1-2022-earnings.html

Stocks making the biggest moves premarket: Big Lots, Hibbett, Pinduoduo and others

These are the stocks posting the largest moves before the bell.

Read more at: https://www.cnbc.com/2022/05/27/stocks-making-the-biggest-moves-premarket-big-lots-hibbett-pinduoduo-and-others.html

How to protect yourself against monkeypox and what to do if you catch it

A recent monkeypox outbreak across the U.S., Europe, Australia and the Middle East has baffled health experts and is raising concerns of a wider outbreak.

Read more at: https://www.cnbc.com/2022/05/27/how-to-protect-yourself-against-monkeypox-what-to-do-if-you-catch-it.html

Russia Pays Eurobond Coupons In FX As US Dashes To Close Loophole

Russia Pays Eurobond Coupons In FX As US Dashes To Close LoopholeAs Russia’s sovereign debt default showdown with the West continues to ratchet as Washington has been seeking to push Moscow into an involuntary bankruptcy by closing all loopholes for debt payments, all eyes were on a Friday deadline for Moscow to settle on two Eurobond coupons. Late in the day, Russia’s National Settlement Depository (NSD) announced it has successfully paid these coupons in dollar-denominated bond and euro-denominated notes, although it remains to be seen if correspondent banks will accept them and if the US won’t just claim the payments were illegal.

For now, Moscow has been able to circumvent the looming dire prospect of a default, racing against the clock set by the Biden administration’s recent decision to allow a key waiver to expire which allowed transactions on Russian Eurobonds payments in foreign currency.

Russia’s finance minister, Anton Siluanov, via ReutersThe Russian finance ministry – seeking to avoid a hard default especially since …

Read more at: https://www.zerohedge.com/markets/russia-successfully-pays-eurobond-coupons-fx-us-dashes-close-loophole

The Economic Doom-Loop Has Begun

The Economic Doom-Loop Has BegunAuthored by ‘Adam Mill’ via AmGreatness.com,

No communist was ever as dedicated to economic suicide as the current class of idiots who rule us…

High inflation, over-regulation, and a general sense that things are going in the wrong direction remind us of the late 1970s and early ’80s. But today the underlying problems that were responsible for our woes in that time are vastly worse. The coming reckoning for Washington’s insanely irresponsible monetary policy may dwarf the troubles from all recent recessions and periods of inflation.

The Federal Reserve has created a doom loop between the housing market and inflation. For years it has printed tens of billions of dollars each month to buy sketchy securities meant to subsidize the housing market and favor bond traders. This continues even now, in spite of inflation and a red-hot housing market. But the housing market has become …

Read more at: https://www.zerohedge.com/personal-finance/economic-doom-loop-has-begun

Soaring Stocks Break 100-Year-Record Losing-Streak Amid Macro Meltdown

Soaring Stocks Break 100-Year-Record Losing-Streak Amid Macro MeltdownUS Macro data has disappointed for 6 straight weeks with May set to see the biggest plunge in reported data relative to expectations since the collapse in April 2020 when the economy was effectively shuttered down by the government…

Source: Bloomberg

But it appears that bad news is good news once again (with ugly data, FedSpeak, and the Minutes all being interpreted as 2x 50bps hikes then pause in Sept… which just seems too easy) as after seven (or eight for The Dow) straight weeks lower for the Nasdaq and S&P, this week saw stocks ‘dead cat bounce’, soaring higher led by Nasdaq (the worst performer on the downside swing). Nasdaq is up 10% off last Friday’s lows, Small Caps and S&P +9% and Dow +8%…

Read more at: https://www.zerohedge.com/markets/soaring-stocks-break-100-year-losing-streak-amid-macro-meltdown

AOC Says She Wants To Ditch Her Tesla Following Online Spat With Musk

AOC Says She Wants To Ditch Her Tesla Following Online Spat With MuskAuthored by Rita Li via The Epoch Times,

Rep. Alexandria Ocasio-Cortez (N.Y.) said she wants to give up her Tesla, one month after getting into an online spat with Elon Musk on Twitter.

The progressive Democrat revealed her plan after being asked about the billionaire’s recent comments that he was going to vote Republican in the upcoming elections. Ocasio-Cortez purchased her Tesla Model 3 in 2020 when the pandemic began to commute between Washington and her Queens and Bronx districts, but said she’d now go for a union-made electric vehicle.

“At the time, it was the only EV …

Read more at: https://www.zerohedge.com/political/aoc-says-she-wants-ditch-her-tesla-following-online-spat-musk

Missguided fashion retailer on verge of collapse

The fast fashion brand could call in administrators as early as Monday, the BBC has been told.

Read more at: https://www.bbc.co.uk/news/business-61610290?at_medium=RSS&at_campaign=KARANGA

How do I get the £400 energy grant and the £650 one-off payment?

The chancellor says the new support will help with soaring bills, so how will you receive the money?

Read more at: https://www.bbc.co.uk/news/business-61592496?at_medium=RSS&at_campaign=KARANGA

Cost of living: Boris Johnson says help with rising bills targeted at poorest

Boris Johnson says the government can not fix everything, but is supporting those who need it the most.

Read more at: https://www.bbc.co.uk/news/uk-politics-61603902?at_medium=RSS&at_campaign=KARANGA

Market Movers: Antony Waste spikes 20% on big order; PSP Projects sees buying post record Q4

Siemens AG, promoter of the company, intends to purchase the LDA Business of Siemens, India. This proposal is based on the plan to carve out Siemens LDA business globally into a separate legal entity.

Read more at: https://economictimes.indiatimes.com/markets/stocks/news/market-movers-antony-waste-spikes-20-on-big-order-psp-projects-sees-buying-post-record-q4/articleshow/91840648.cms

Six months before COVID struck, this move protected India Inc from pandemic, says RBI

In a bid to improve overall economic growth in the country, the Union Government had announced a hefty reduction in corporate tax rates from 30 per cent to 22 per cent.

Read more at: https://economictimes.indiatimes.com/markets/stocks/news/six-months-before-covid-struck-this-move-protected-india-inc-from-pandemic-says-rbi/articleshow/91837994.cms

Paradeep Phosphates: Should you book profit or hold it for long-term?

The majority of the brokerages have a positive view on the counter as they suggested investors to hold the stock from a long-term perspective.

Read more at: https://economictimes.indiatimes.com/markets/stocks/news/paradeep-phosphates-should-you-book-profit-or-hold-it-for-long-term/articleshow/91829876.cms

Futures Movers: U.S. oil benchmark closes at 11-week high with summer driving season set to get under way

Oil futures end with strong weekly gains Friday, as the U.S. and global benchmarks finish at their highest since March.

Read more at: http://www.marketwatch.com/news/story.asp?guid=%7B20C05575-04D4-B545-7DD9-CF63D6398448%7D&siteid=rss&rss=1

Twitter shareholders OK resolutions on concealment clauses, political spending

Twitter Inc. shareholders voted Wednesday to require that the social-media company report on its policies around concealment clauses and election spending.

Read more at: http://www.marketwatch.com/news/story.asp?guid=%7B20C05575-04D4-B545-7DC4-0ACB485C8622%7D&siteid=rss&rss=1

FA Center: ‘I’m surprised you’re not in an alley.’ This financial adviser beat the odds and now helps people build wealth.

Raised in a family with money worries, Matthew McKay focuses on strengthening clients’ financial security.

Read more at: http://www.marketwatch.com/news/story.asp?guid=%7B20C05575-04D4-B545-7DD7-740133A4ACAA%7D&siteid=rss&rss=1