01August2022 Market Close & Major Financial Headlines: Wall Street Rode A Bucking Bronco Traversing The Unchanged Line Before The BTFDers Ran Out Of Money, The Three Main Indexes Closed In The Red Culminating an Interesting Investing Session

Is Silver A Better Investment Than Gold Right Now?

Precious metals like gold, silver, and palladium are fighting back hard against the global trend of dropping metal prices. Last month, MetalMiner reported that the global precious metals index fell 3.77% between June and July. On July 20th, however, gold bullion prices began to rise steadily. Shortly after that, silver bullion prices also started an upward trend. Last month, the Fed’s interest rate hikes managed to slightly impact rising inflation, though inflation continues to pose significant challenges. This week, the Fed hiked those rates

Read more at: https://oilprice.com/Metals/Commodities/Is-Silver-A-Better-Investment-Than-Gold-Right-Now.html

Russia Says It Can’t Help With Nord Stream Gas Turbine Repairs

There is little Russia can do to help with repairs of equipment at Nord Stream compressor stations, according to Kremlin spokesman Dmitry Peskov. The situation with the necessary repairs needs to be resolved, but Russia can do little in this regard, Peskov told Russian reporters on Monday. The Kremlin doesn’t have anything to add to what Gazprom has already said: there are equipment failures necessitating urgent repairs, and there are additional “artificial difficulties” caused by the “illegal sanctions and restrictions,” Peskov added. The

Read more at: https://oilprice.com/Latest-Energy-News/World-News/Russia-Says-It-Cant-Help-With-Nord-Stream-Gas-Turbine-Repairs.html

Today’s Energy Crisis Spells Disaster For The Global Economy

It is my view that when the energy supply falls, it falls not because reserves run out. It falls because economies around the world cannot afford to purchase goods and services made with energy products and use energy products in their operation. It is really a price problem. Prices cannot be simultaneously high enough for oil producers (such as Russia and Saudi Arabia) to ramp up production and remain low enough for consumers around the world to buy the goods and services that they are accustomed to buying. Figure 1. Chart showing

Read more at: https://oilprice.com/Energy/Energy-General/Todays-Energy-Crisis-Spells-Disaster-For-The-Global-Economy.html

Saudi Arabia’s Economy Grows 12% In Q2 On High Oil Prices

Saudi Arabia recorded a GDP growth rate of 11.8 percent for the second quarter, driven by a 23.1-percent rise in oil income, according to preliminary data cited by Reuters. The value of Saudi Arabia’s oil exports has been growing this year, especially after the Russian invasion of Ukraine in February. The latest monthly data, for May, revealed a 106-percent increase on the year to SR116.2 billion, with oil exports making up 80.6 percent of all exports out of Saudi Arabia in that month. Saudi Arabia, OPEC’s biggest oil producer, was

Read more at: https://oilprice.com/Latest-Energy-News/World-News/Saudi-Arabias-Economy-Grows-12-In-Q2-On-High-Oil-Prices.html

Ukrainian Grain Shipment Hailed As A Relief For The World

The first ship carrying Ukrainian grain was on its way to Istanbul after it set off from the Black Sea port of Odesa on August 1 under an UN-brokered deal, raising moderate hope that a looming global food crisis could be averted. Ukraine and Russia signed agreements with Turkey and the United Nations on July 22 in Istanbul to free up three of Ukraine’s ports — Odesa, Chornomorsk, and Pivdenniy — which had been blockaded since Russia launched the invasion of Ukraine in late February. Ukrainian Infrastructure Minister Oleksandr Kubrakov said the

Read more at: https://oilprice.com/Geopolitics/International/Ukrainian-Grain-Shipment-Hailed-As-A-Relief-For-The-World.html

Australia May Limit LNG Exports Amid Domestic Gas Shortage

Australia is again facing a domestic gas shortage because of excessive exports, and the Australian Competition and Consumer Commission is warning that the government must impose limits on LNG exports to secure local supply. This warning follows a decision by the Australian Energy Market Operator to activate a supply guarantee mechanism that was set up in the wake of another looming shortage a few years ago when the Australian government realized it needed a way to ensure that the local market would be well supplied with gas despite rising LNG exports.

Read more at: https://oilprice.com/Latest-Energy-News/World-News/Australia-May-Limit-LNG-Exports-Amid-Domestic-Gas-Shortage.html

PepsiCo takes $550 million stake in energy drink maker Celsius

PepsiCo announced Monday a $550 million investment in energy drink maker Celsius Holdings as part of a long-term distribution deal with the smaller company.

Read more at: https://www.cnbc.com/2022/08/01/pepsico-takes-550-million-stake-in-energy-drink-maker-celsius-.html

Starbucks union asks coffee giant to extend pay hikes, benefits to unionized stores

With pay hikes set to kick in at Starbucks cafes around the U.S., labor organizers are asking the coffee giant to extend the benefits to unionized stores as well without going through the bargaining process.

Read more at: https://www.cnbc.com/2022/08/01/starbucks-union-asks-coffee-giant-to-extend-pay-hikes-benefits-to-unionized-stores.html

Home prices cooled at a record pace in June, according to housing data firm

Home price gains are cooling fast, as demand wanes and still-tight supply builds.

Read more at: https://www.cnbc.com/2022/08/01/home-prices-cooled-at-record-pace-in-june-according-to-housing-data-firm.html

Ford is adding an off-road package to its hot-selling Maverick compact pickup

Buyers of Ford’s smallest pickup will be able to opt for a $3,000 Tremor off-road package starting this fall.

Read more at: https://www.cnbc.com/2022/08/01/ford-maverick-tremor-off-road-package-2022.html

Nikola to acquire battery pack supplier Romeo Power in $144 million deal

Nikola will acquire Romeo Power, a key supplier of battery packs for its trucks, in a $144 million all-stock transaction.

Read more at: https://www.cnbc.com/2022/08/01/nikola-nkla-to-acquire-romeo-power-rmo-.html

Space company Masten files for bankruptcy after struggle with NASA moon contract

Masten had won a $75 million NASA contract to deliver payloads to the moon’s south pole, but the project ran far over budget.

Read more at: https://www.cnbc.com/2022/07/29/masten-files-for-bankruptcy-after-nasa-moon-contract-struggle.html

From legroom to airfare: How JetBlue’s takeover of Spirit could change air travel

JetBlue is setting its sights on getting rid of Spirit’s tight seating and basic cabins.

Read more at: https://www.cnbc.com/2022/07/30/spirit-airlines-jetblue-deal-air-travel.html

Ford CEO offers more clues about the automaker’s ambitious electric vehicle plans

Ford has big plans to build millions of EVs. Analysts have been skeptical, but this past week, CEO Jim Farley hinted at how Ford will hit its ambitious goals.

Read more at: https://www.cnbc.com/2022/07/31/ford-ceo-farley-outlined-plans-for-automakers-electric-vehicle-shift.html

Mortgage rates fall sharply after negative GDP report and Fed’s latest hike

The average rate on the popular 30-year fixed mortgage fell to 5.22% on Thursday from 5.54% on Wednesday, according to Mortgage News Daily.

Read more at: https://www.cnbc.com/2022/07/29/mortgage-rates-fall-sharply-after-negative-gdp-report-and-feds-latest-hike.html

Trucking CEOs expect higher prices, potential disruptions in second half of the year

U.S. trucking CEOs expect to maintain pricing power even with volumes softening as retailers, manufacturers, and consumers adjust to disruptions.

Read more at: https://www.cnbc.com/2022/07/28/trucking-ceos-expect-high-prices-demand-in-second-half-of-2022.html

Higher prices help Procter & Gamble offset commodity costs, but Tide maker warns of more challenges

Procter & Gamble reported mixed quarterly results and warned it expects challenges such as rising commodity costs to persist in its fiscal 2023.

Read more at: https://www.cnbc.com/2022/07/29/procter-gamble-pg-q4-2022-earnings.html

JetBlue won the battle for Spirit. Now it has to win over Biden’s Justice Department

JetBlue’s takeover of Spirit Airlines requires the blessing of the Justice Department.

Read more at: https://www.cnbc.com/2022/07/28/jetblue-won-the-battle-for-spirit-now-it-has-to-win-over-bidens-justice-department.html

Saudi-backed LIV Golf envisions franchises in its future, executive says

LIV Golf, the Saudi-backed league that has the blessing of former President Trump and Phil Mickelson, aims to build franchises.

Read more at: https://www.cnbc.com/2022/07/29/liv-golf-backed-by-saudis-and-trump-sees-franchises-in-its-future-exec-says.html

“No One Is Positioned For Any Good News:” Record Shorting In Tech Ensures ‘Most Hated Rally’ Will Continue

July was a tremendous month for stocks, it was also a mediocre (at best) month for hedge funds which not only underperform the S&P when stocks slide (as they did during the crashes of 2020 and early this year), but also underperform the broader market during sharp squeezes like the one that took place in July, prompting some to ask just what is the point of paying someone 2 and 20 to some overweight billionaire always to underperform.

The question of hedge fund utility becomes that much more pressing when one reads in the latest Goldman Sachs Prime Services hedge fund weekly report that while the GS Equity Fundamental L/S Performance Estimate rose +0.57% between 7/22 and 7/28 (roughly a third of the performance of broader – and free – MSCI World TR +1.74%), this return was driven almost entirely by beta of +0.56% (i.e., market exposure), with an alpha of just +0.01%.

In other words, not only can’t hedge funds generate alpha, they can’t even keep up with the market’s own beta! That will cost 2 and 20, please.

Read more at: https://www.zerohedge.com/markets/no-one-positioned-any-good-news-record-shorting-tech-ensures-most-hated-rally-will-continue

Hedge Funds Bullish On U.S. Diesel As Inventories Dwindle

By John Kemp, senior market analyst at Reuters

Portfolio managers were heavy buyers of U.S. distillates last week, reflecting the continued shortage of diesel and heating oil despite signs of an economic slowdown.

Hedge funds and other money managers purchased the equivalent of 4 million barrels in the six most important petroleum futures and options contracts in the week to July 26.

Purchases of Brent (+12 million barrels) and U.S. gasoline (+1 million) were offset by sales of NYMEX and ICE WTI (-17 million) and European gas oil (-1 million).

But the most significant change was buying of U.S. diesel (+9 million barrels), which funds purchased at the fastest rate since November 2020.

Read more at: https://www.zerohedge.com/markets/hedge-funds-bullish-us-diesel-inventories-dwindle

McKinney Fire In Northern California Becomes Largest Of Season

Firefighters battle an out-of-control Northern California wildfire near the Oregon state line, growing into the state’s largest wildfire this season in just a few days.

The McKinney fire exploded in size late Sunday to more than 52,498. The fire remained at 0% contained, consuming dry vegetation in Klamath National Forest, near the city of Yreka.

Gavin Newsom, the governor of California, declared a state of emergency on Saturday. He said the wildfire “threatened critical infrastructure” and “destroyed homes” after breaking out on Friday.

The fire was “intensified and spread by dry fuels, extreme drought conditions, high temperatures, winds, and lightning storms,” Newsom added.

“These conditions can be extremely dangerous for firefighters, as winds can be erratic and extremely strong, causing fire to spread in any direction,” forest service officials said.

The

Read more at: https://www.zerohedge.com/weather/mckinney-fire-northern-california-becomes-largest-season

EU, UK Fold? Delay Cutting Off Russia From Oil Insurance Market

Authored by Tsvetana Paraskova via OilPrice.com,

The EU and UK insurance ban was to be a much bigger deal than the actual EU embargo on Russian oil imports.

The EU and the UK have slowed efforts to have Russia shut off from the most important maritime insurance market.

Full insurance ban could push oil prices even higher.

The EU and the UK have slowed efforts to have Russia shut off from the most important maritime insurance market amid concerns that a full insurance ban would limit global oil supply and push oil prices even higher, the Financial Times reports, citing UK and EU officials.

The UK was set to join an EU insurance ban after the UK and the European Union agreed in May to jointly shut off Russia’s access to …

Read more at: https://www.zerohedge.com/energy/eu-uk-fold-delay-cutting-russia-oil-insurance-market

How much do women footballers get paid?

BBC analysis shows a wide gap between leading male and female players’ wages, but could that be about to change?

Read more at: https://www.bbc.co.uk/news/business-62378095?at_medium=RSS&at_campaign=KARANGA

JD Sports loses millions in forced Footasylum sale

The sportswear chain has sold the retailer after just three years following competition concerns.

Read more at: https://www.bbc.co.uk/news/business-62375570?at_medium=RSS&at_campaign=KARANGA

Mortgage affordability test scrapped by Bank of England

Some potential homebuyers may find it easier to get a loan as the central bank eases borrowing rules.

Read more at: https://www.bbc.co.uk/news/business-62353114?at_medium=RSS&at_campaign=KARANGA

Is trading that easy? 5 key learnings from option traders

At the 3-day-long Traders Carnival 2022 held in Bengaluru last week, the newbies got to learn some of the tricks of the trade from the masters of the game like Sivakumar Jayachandran, Super Trader Lakshya, Rajesh Sriwastava, Santosh Pasi, Jegathesan Durairaj, Nayan Pokharkar, Harshubh Shah and others.

Read more at: https://economictimes.indiatimes.com/markets/stocks/news/is-trading-that-easy-5-key-learnings-from-option-traders-at-traders-carnival/articleshow/93268695.cms

RIL at Rs 2,725? Risk-reward looks favorable on tech charts

Buying demand has emerged from the 52-week EMA, which has historically acted as an incremental buying opportunity on multiple occasions (currently at Rs 2,430), which also confluences with the rising demand line joining lows since January 2021, it added.

Read more at: https://economictimes.indiatimes.com/markets/stocks/news/ril-at-rs-2725-risk-reward-looks-favourable-on-tech-charts/articleshow/93265184.cms

How to analyze a business: A case study of Intellect Design Arena

“Intellect Design is a software products company that operates in the banking, financial services, and insurance domain. I do not have an exact number for the addressable market but it probably runs into billions of dollars globally.”

Read more at: https://economictimes.indiatimes.com/markets/stocks/news/how-to-analyse-a-business-a-case-study-of-intellect-design-arena/articleshow/93266305.cms

Bond Report: Treasury yields fall in choppy trade to start August

Long-dated Treasury yields fall Monday as investors weigh prospects for recession and the pace and scope of future Fed rate increases.

Read more at: http://www.marketwatch.com/news/story.asp?guid=%7B20C06575-04D4-B545-7105-F662BB4468CF%7D&siteid=rss&rss=1

Living With Climate Change: Americans want EV tax incentives. But are they ready to lose gas cars forever?

Pew finds a broad majority of Americans support providing incentives for electric vehicles, but are more divided when it comes to an actual EV purchase.

Read more at: http://www.marketwatch.com/news/story.asp?guid=%7B20C06575-04D4-B545-7106-6B3D6619E04F%7D&siteid=rss&rss=1

The Margin: Netflix sues ‘Unofficial Bridgerton Musical’ after the parody put on a Kennedy Center show with $149 seats

Producer Shonda Rhimes called out the Grammy-winning parody for its ‘blatant taking of intellectual property’ following a recent Kennedy Center performance.

Read more at: http://www.marketwatch.com/news/story.asp?guid=%7B20C06575-04D4-B545-7106-67FAD07635DE%7D&siteid=rss&rss=1