19July2022 Market Close & Major Financial Headlines: Wall Street Powers Higher As U.S. Dollar Slips. Nasdaq Closes Up Over 3%. WTI Crude Settles Higher. US Gasoline Falls Below $4.50 Per Gallon.

The Uncertain Future Of Oil And Gas Firms In The North Sea

Major oil firms are turning their backs on North Sea oil for various reasons. Environmental organizations have been putting increasing pressure on the U.K. government to curb oil activities in the North Sea, particularly following the COP26 climate summit last year. And now the U.K.s Windfall tax is discouraging oil companies from investing in operations in the region. Meanwhile, there is still plenty of optimism around oil and gas discoveries, demonstrating the potential for the continuation of lucrative oil activities in the North Sea.

Read more at: https://oilprice.com/Energy/Energy-General/The-Uncertaint-Future-Of-Oil-And-Gas-Firms-In-The-North-Sea.html

Europe Looks To Azerbaijan To Help Ease Energy Reliance On Russia

The European Union is hailing a new energy agreement with Azerbaijan that could see the gas-rich Caspian nation double the flow of gas to Europe in five years, part of Brussels’ effort to reduce reliance on Russia. After the July 18 signing ceremony in Baku, Azerbaijani President Ilham Aliyev and European Commission President Ursula von der Leyen both stressed their commitment to strengthening and broadening collaboration in energy and other areas. Cooperation in the field of energy has always been at the top of our agenda,” said Aliyev.

Read more at: https://oilprice.com/Energy/Energy-General/Europe-Looks-To-Azerbaijan-To-Help-Ease-Energy-Reliance-On-Russia.html

Russian And Iran Ink $40 Billion Oil And Gas Agreement

Ahead of Russian President Vladimir Putin’s visit to Iran on Tuesday, his second foreign trip since he invaded Ukraine in February, Russian Gazprom and the National Iranian Oil Company have inked a $40-billion agreement for the development of oil and gas fields. Moscow and Tehran signed the $40-billion Memorandum of Understanding (MOU) just ahead of Putins arrival in the Iranian capital. The deal, in its preliminary form, will see Gazprom assist Iran’s state oil company in the development of both oil and gas fields and

Read more at: https://oilprice.com/Latest-Energy-News/World-News/Russian-And-Iran-Ink-40-Billion-Oil-And-Gas-Agreement.html

Libya’s El Feel Oil Field Resumes Production

Libyas El Feel oilfield resumed production on Tuesday, according to Libya’s National Oil Corporation, after being shut in for nearly three months. The initial capacity for El Feel is 40,000 barrels per day, according to NOC. The 40,000 bpd rate has already been achieved today. When all the wells have been placed back into production, El Feel should return to its normal rate of 70,000 bpd. The El Feel field is operated in partnership with Italy’s Eni. The El Feel oilfield was closed in mid-April as protests against Libya’s

Read more at: https://oilprice.com/Latest-Energy-News/World-News/Libyas-El-Feel-Oil-Field-Resumes-Production.html

How Many Countries Are Actually Capable Of Space Travel?

South Korea last month joined the quite exclusive club of countries that have the capability of launching space rockets using homegrown technology. Rocket Nuri, officially named the Korea Space Launch Vehicle-II, successfully took off from Goheung in Southern Korea on June 21 carrying smaller satellites as well as a 1.3 tons dummy one, demonstrating the ability to payload satellites above the one-ton mark. According to the Korean Herald, only seven countries in the world have ever developed this capability. According to Statista research, only

Read more at: https://oilprice.com/Energy/Energy-General/How-Many-Countries-Are-Actually-Capable-Of-Space-Travel.html

U.S. Gasoline Prices Fall Below $4.50 Per Gallon

Gasoline prices in the United States fell below $4.50 per gallon on Tuesday, according to AAA, down 52 cents from the highest recorded average price reached last month. But gasoline prices are still higher today than before the announced release in March of a million barrels of crude oil per day from the nation’s Strategic Petroleum Reserves. U.S. gasoline prices fell to a national average of $4.495 per gallon on Tuesday, AAA data showed. That’s down from an average of $4.521 yesterday and down from $4.655 a week ago. Even larger is

Read more at: https://oilprice.com/Latest-Energy-News/World-News/US-Gasoline-Prices-Fall-Below-450-Per-Gallon.html

Netflix only loses 970,000 subscribers in second quarter after warning of loss of 2 million

Netflix warned that it could lose 2 million subscribers during the quarter.

Read more at: https://www.cnbc.com/2022/07/19/netflix-nflx-earnings-q2-2022.html

Shares of cruise lines jump after CDC ends Covid-19 program

Cruise lines, including Carnival, Royal Caribbean and Norwegian, rose today after the Center for Disease Control ended their Covid-19 Program for Cruise Ships.

Read more at: https://www.cnbc.com/2022/07/19/shares-of-cruise-liners-jump-after-cdc-ends-covid-19-program.html

Spirit Airlines plans crew base in United stronghold Houston, its third new outpost in five months

In March Spirit announced crew bases in American Airlines hub Miami and at Delta Air Lines-dominated Atlanta.

Read more at: https://www.cnbc.com/2022/07/19/spirit-airlines-plans-houston-crew-base-its-third-new-outpost-in-five-months.html

GM reveals electric Chevrolet Blazer priced starting at $45,000

The 2024 Blazer EV is expected to arrive in showrooms beginning next summer, with starting pricing between about $45,000 and $66,000.

Read more at: https://www.cnbc.com/2022/07/18/gm-reveals-chevrolet-blazer-ev-with-pricing-up-from-45000.html

Nikola adjourns shareholder meeting, again, as founder Trevor Milton blocks stock-issue plan

Nikola is trying to win enough shareholder votes to overcome ex-CEO Trevor Milton’s objection to issuing new stock.

Read more at: https://www.cnbc.com/2022/07/18/nikola-still-lacks-votes-for-stock-issue-plan-opposed-by-founder-trevor-milton.html

McDonald’s franchisees polled by an owners group overwhelmingly support a no-confidence vote on CEO

McDonald’s franchisees unhappy with changes being made to ownership terms are expressing a lack of confidence in the company’s CEO, according to a new survey.

Read more at: https://www.cnbc.com/2022/07/18/mcdonalds-franchise-owners-back-no-confidence-vote-on-ceo-survey-says.html

CDC panel unanimously recommends Novavax Covid-19 vaccine for adults

Novavax uses different technology than Pfizer and Moderna. U.S. health officials hope Novavax’s shots might convince skeptics to get vaccinated.

Read more at: https://www.cnbc.com/2022/07/19/covid-cdc-panel-recommends-novavax-vaccine-for-adults.html

Delta buys 100 Boeing Max planes, its first major order with the manufacturer in more than a decade

Delta was the last of the major U.S. carriers to order Max planes from Boeing in recent years.

Read more at: https://www.cnbc.com/2022/07/18/delta-buys-100-max-planes-in-first-big-boeing-order-in-over-a-decade.html

Will Netflix keep losing subscribers this year? Investors are eager for guidance

Netflix investors were warned that the streaming service would lose 2 million subscribers in the second quarter. But what about the rest of the year?

Read more at: https://www.cnbc.com/2022/07/19/will-netflix-keep-losing-subscribers-through-2022.html

Investors have put $43 billion in dividend-paying funds this year. Before you ‘chase dividends,’ here’s what to know

With increased fears of a possible recession, investors seeking steady income may turn to stocks paying quarterly dividends. Here’s what to know before buying.

Read more at: https://www.cnbc.com/2022/07/19/before-you-chase-dividends-heres-what-to-know.html

4 takeaways from the Investing Club’s ‘Morning Meeting’ on Tuesday

Cramer discusses what to make of Apple’s market-moving news, plus thoughts on JNJ and Halliburton earnings.

Read more at: https://www.cnbc.com/2022/07/19/4-takeaways-from-the-investing-clubs-morning-meeting-on-tuesday.html

Stocks making the biggest moves midday: IBM, Boeing, Hasbro, Ford & more

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

Read more at: https://www.cnbc.com/2022/07/19/stocks-making-the-biggest-moves-midday-ibm-boeing-hasbro-ford-more.html

Airlines are struggling with lost and delayed bags: What to know and how to pack if you’re traveling this summer

Airlines’ hassles seem to be growing, and that might mean a lost or delayed bag this summer. Here’s what travelers should know about their financial recourse.

Read more at: https://www.cnbc.com/2022/07/19/what-travelers-need-to-know-as-airlines-deal-with-lost-delayed-bags.html

Disinformation Governance Board Is Officially Killed – But What Comes Next?

In a rare and perhaps fleeting victory for those trying to slow America’s slide into dystopian authoritarianism, the Department of Homeland Security on Monday said it has concluded “there is no need for a Disinformation Governance Board.”

The news comes just under three months after the existence of the board first came to public attention. DHS Secretary Alejandro Mayorkas announced its creation at an April 27 House budget hearing — igniting a firestorm of opposition to what critics derisively labeled the “Ministry of Truth.”

In addition to countering misinformation encouraging migration to the United States, the board was also to be charged with combatting Russian disinformation threats ahead of the midterm election, and countering what the Associated Press credulously called “an aggressive disinformation campaign around the war in Ukraine.”

Particularly to the libertarian and conservative right, which was already being pummeled by social media censorship, the launch of a federal truth-monitoring entity — within the Department of Homeland Security of all places — was chilling, to say the least. The invocation of a supposed Russia disinformation threat compounded the alarm, especially when that threat was put in the context of wars and elections.

Not to mention the sheer hypocrisy: DHS and other U.S. government entities had themselves subjected the American people to an enormous e …

Read more at: https://www.zerohedge.com/political/disinformation-governance-board-officially-killed-what-comes-next

Will Falling Oil Prices Alter The Fed’s Aggressive Rate Hike Plan?

By Alex Kimani of Oilprice.com

Over the past two months, the oil price rally has seriously lost momentum, with prices remaining range-bound as fears intensify that the global economy could be headed for a recession. Consequently, the highly-criticized energy inflation has cooled off, with U.S. gas prices have now dropped for more than 30 consecutive days.

But policymakers are now warning that cheaper oil and gas are unlikely to persuade the Fed to go easy on its aggressive rate hike regime. If anything, it might get even more aggressive as inflation continues running ou …

Read more at: https://www.zerohedge.com/markets/will-falling-oil-prices-alter-feds-aggressive-rate-hike-plan

“Something Has Just Blown Up”: Small Explosion Seen At Hoover Dam

Shortly after 10 am local time, a small explosion and fire was seen at the lower part of the 726-foot-high Hoover Dam in Nevada.

As one visitor exclaimed “something has just blown up” as she recorded the incident…

touring the #hooverdam and heard an explosion #fire pic.twitter.com/1tjWuNWBaZ

— Kristy Hairston (@kristynashville) July 19, 2022

A different angle…

❌❌❌HOOVER DAM EXPLODING❌❌❌

↘️ Large 💥explosion and 🔥fire reported at #HooverDam

↘️🔥Fire appears to be at the 👉generators/turbines👈

❌⚠️❌Developing Story! 👉Follow @SimplyBreaking for
more#news #breaking

Read more at: https://www.zerohedge.com/technology/something-has-just-blown-small-explosion-seen-hoover-dam

June Used-Truck Retail-Prices Follow Continuing Declines In Auction Prices

By Alan Adler of FreightWaves

Used truck auction prices continue to drop from nosebleed heights. Now trucks at retail are selling for less. But both channels remain near historic peaks.

Auction volumes in June reached an 18-month high, according to J.D. Power Valuation Services. Small fleet liquidations, large fleets dumping their oldest units, and individuals either getting out of the industry or going to work for a fleet drove the jump.

Auction values stabilized after rising for 18 straight months, according to Ritchie Brothers Asset Solutions, a major auctioneer of used trucks and off-road equipment.

Read more at: https://www.zerohedge.com/economics/june-used-truck-retail-prices-follow-continuing-declines-auction-prices

Bigger interest rate hikes on the table, says Bank boss

The Bank could raise rates by 0.5% at its next meeting in August, its boss Andrew Bailey said.

Read more at: https://www.bbc.co.uk/news/business-62223722?at_medium=RSS&at_campaign=KARANGA

Royal Mail workers to go on strike over pay

If 115,000 staff strike, it could be the biggest ever action by the Communication Workers Union.

Read more at: https://www.bbc.co.uk/news/business-62219565?at_medium=RSS&at_campaign=KARANGA

Sunscreen and ice cream sales soar ahead of UK heatwave

Millions of pounds more will be spent on fans, paddling pools and water bottles, research suggests.

Read more at: https://www.bbc.co.uk/news/business-62173523?at_medium=RSS&at_campaign=KARANGA

Are stocks reasonable or expensive? Here’s what Nifty valuations suggest

Vinay Khattar of Edelweiss Wealth said the market has corrected by almost 16 percent from top to bottom. He said the value begins to emerge in the 15,000-15,500 range. Khattar’s FY24 EPS estimates, which were upward of Rs 1,027, have corrected to the Rs 1,000 level, adding that there could be some more downgrades this quarter.

Read more at: https://economictimes.indiatimes.com/markets/stocks/news/are-stocks-reasonable-or-expensive-heres-what-nifty-valuations-suggest/articleshow/92979119.cms

Tech View: Nifty50 forms bullish candle, eyes 16,500 level

The credibility of this upmove was enhanced as Nifty50 witnessed buying interest on dips, said Mazhar Mohammad of Chartviewindia.in. Mohammad said that the index can test its 200-day EMA, whose value is placed around the 16,520 level if it were to sustain above the 16,187 level.

Read more at: https://economictimes.indiatimes.com/markets/stocks/news/tech-view-nifty50-forms-bullish-candle-eyes-16500-level/articleshow/92984792.cms

What Mukul Agrawal bought & sold during June 2022 quarter

Among new additions, Mukul Agrawal’s name was seen on GM Breweries’ key shareholder list. He held 2,56,971 shares or a 1.41 percent stake in the company by the end of the latest quarter, worth Rs 14.7 crore.Listed companies are obliged to release the list of key shareholders who hold one percent stake or more in the company on a quarterly basis as per Sebi norms.

Read more at: https://economictimes.indiatimes.com/markets/stocks/news/what-mukul-agrawal-bought-sold-during-june-2022-quarter/articleshow/92975959.cms

Market Snapshot: Dow up 700 points as stocks head for largest gain in a month

U.S. stocks rise sharply Tuesday, on track for their best session in nearly a month, as the dollar retreats and corporate earnings mostly keep ahead of expectations.

Read more at: http://www.marketwatch.com/news/story.asp?guid=%7B20C05575-04D4-B545-7FCD-4115E862EAD2%7D&siteid=rss&rss=1

The Tell: Energy and materials stocks face rough ride as commodity prices come off the boil, says economist

Economists are downbeat about the prospects for the energy and materials sectors as oil prices grind lower and China’s metals-intensive economy remains steady

Read more at: http://www.marketwatch.com/news/story.asp?guid=%7B20C05575-04D4-B545-7FD5-D4B70870EBF1%7D&siteid=rss&rss=1

: AMC, GameStop stocks jump to multi-month intraday highs, then pull back

Shares of both AMC Entertainment Holdings Inc. and GameStop Corp. rallied above apparent resistance levels, and reached multi-month highs in intraday trading, before pulling back.

Read more at: http://www.marketwatch.com/news/story.asp?guid=%7B20C05575-04D4-B545-7FD5-82F71F688D59%7D&siteid=rss&rss=1