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By Sonali Paul and Isabel Kua SINGAPORE (Reuters) -Oil prices were steady on Wednesday as concerns about lower fuel demand from China amid tightening COVID-19 curbs offset data showing a larger-than-expected U.S. crude draw last week. Brent crude futures dropped 15 cents, or 0.2%, to $88.21 a barrel at 0508 GMT, while U.S. West Texas Intermediate (WTI) crude futures lost 9 cents, or 0.1%, to $80.86 a barrel. Both benchmark contracts rose about 1% on Tuesday as the United Arab Emirates, Kuwait, Iraq and Algeria reinforced comments from Saudi Arabia's energy minister that the Organization of the Petroleum Exporting Countries (OPEC) and allies, together called OPEC+, were not considering boosting oil output. OPEC+ next meets to review output on Dec. 4. Meanwhile, top crude oil importer China has been grappling with a surge in COVID-19 cases that has deepened worries about its economy. Late on Tuesday, financial hub Shanghai tightened rules for people entering the city while Beijing shut parks and museums. "Oil is having a tug-of-war with China COVID demand concerns getting countered with what appears to be a motivated Saudi Arabia to keep the oil market tight," said Edward Moya, senior market analyst with OANDA, in a note. Traders are also being cautious ahead of the release of the U.S. Federal Reserve's minutes from its November policy meeting due at 1900 GMT, CMC Markets analyst Tina Teng said. "The Fed is expected to signal a slowdown in rate hikes but any surprising hawkish reiteration will weigh on sentiment, lifting the U.S. dollar and pressuring commodity prices," Teng added. Underpinning oil prices on Wednesday, U.S. crude inventories fell by about 4.8 million barrels for the week ended Nov. 18, data from the American Petroleum Institute showed, according to market sources. Analysts polled by Reuters on average had expected a 1.1 million barrel drawdown in crude inventories. Distillate stocks, which include heating oil and jet fuel, rose by about 1.1 million barrels compared with analysts' expectations for a drop of 600,000 barrels. Uncertainty over how Russia will respond to plans by the Group of Seven (G7) nations to cap Russian oil prices also provided some support to the market. The price cap is due to be announced soon, a senior U.S. Treasury official said on Tuesday, adding that it will probably be adjusted a few times a year. "Traders closely monitor Russia's exports and will look for how much they might trim the nation's foreign sales in retaliation, which could be a bullish fillip for oil prices," SPI Asset Management managing partner Stephen Innes said in a note.
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@aim2k #Emporos Research
plus was the only green ticker in the whole cmc crash
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By Isabel Kua SINGAPORE (Reuters) -Oil prices rose more than 1% on Tuesday, paring losses from the previous session, as a weaker U.S. dollar offset widening COVID-19 curbs in China that have stoked fears of slowing fuel demand in the world's second-largest oil consumer. Brent crude for January delivery rose $1.53, or 1.7%, to $94.34 per barrel at 0718 GMT. The December contract expired on Monday at $94.83 a barrel, down 1%. U.S. West Texas Intermediate (WTI) crude rose $1.38, or 1.6%, to $87.91 a barrel, after falling 1.6% in the previous session. The Brent and WTI benchmarks both ended October higher, posting their first monthly gains since May, after the Organization of the Petroleum Exporting Countries and allies including Russia said they would cut output by 2 million barrels per day (bpd). "Oil prices cut early losses as the U.S. dollar weakened, with the major global equity markets rising in today’s Asian session ahead of the U.S. Federal Reserve's rate decision later this week," CMC Markets analyst Tina Teng said. The greenback sank on Tuesday from a one-week high against a basket of major peers, as traders weighed the odds of a less aggressive Federal Reserve at Wednesday's monetary policy meeting. A weaker dollar makes oil cheaper for holders of other currencies and usually reflects greater investor appetite for risk. "OPEC+’s upcoming oil output cuts and the U.S.’s record oil export data also support oil prices fundamentally," Teng said. OPEC raised its forecasts for world oil demand in the medium-and longer-term on Monday, saying that $12.1 trillion of investment is needed to meet this demand despite the transition to renewable energy sources. COVID-19 curbs in China forced the temporary closure of Disney's Shanghai resort on Monday and have spurred worries of lower fuel demand in the world's top crude oil importer as it persists with its zero-COVID policy. Strict pandemic restrictions have caused China's factory activity to fall in October and cut into its imports from Japan and South Korea. Stephen Innes, managing partner at SPI Asset Management said that "the market has digested the latest string of China lockdowns". "The further we move into November, the closer we get to the EU-Russian oil embargo taking effect, which will have a material impact on Russia's supply and by extension global supply," Innes said. Keeping a check on oil prices, though, U.S. oil output climbed to nearly 12 million bpd in August, the highest since the start of the COVID-19 pandemic, even as shale companies said they do not expect production to accelerate in coming months. That is likely to lead to a rise in U.S. crude oil stocks in the week to Oct. 28 of about 300,000 barrels, a preliminary Reuters poll showed, while distillate and gasoline inventories were expected to fall. The poll was conducted ahead of reports from the American Petroleum Institute due at 4:30 p.m. EDT (2030 GMT) on Tuesday, and the Energy Information Administration due at 10:30 a.m. (1430 GMT) on Wednesday.
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By Isabel Kua SINGAPORE (Reuters) -Oil prices edged higher on Tuesday as expectations that OPEC+ may agree to a large cut in crude output when it meets on Wednesday offset concerns about the global economy. Brent crude futures rose 46 cents, or 0.5%, to $89.32 per barrel by 0629 GMT after gaining more than 4% in the previous session. U.S. crude futures rose 30 cents, or 0.4%, to $83.93 a barrel. The benchmark gained more than 5% in the previous session, its largest daily gain since May. Oil prices rallied on Monday on renewed concerns about supply tightness. Investors expect that the Organization of the Petroleum Exporting Countries (OPEC) and its allies, known collectively as OPEC+, will cut output by more than 1 million barrels per day (bpd) at their first in-person meeting since 2020 on Wednesday. Voluntary cuts by individual members could come on top of this, making it their largest cut since the start of the COVID-19 pandemic, OPEC sources said. "Despite everything going on with the war in Ukraine, OPEC+ has never been this strong and they will do whatever it takes to make sure prices are supported here," said Edward Moya, a senior analyst with OANDA, in a note. OPEC+ has boosted output this year after record cuts put in place in 2020 due to demand destruction caused by the COVID-19 pandemic. But in recent months, the organisation has failed to meet its planned output increases, missing in August by 3.6 million bpd. "Whilst OPEC+ might announce a large cut (in excess of 1 million bpd), in reality, the cut could be much smaller. This is due to most OPEC+ members producing well below their target production levels," ING analysts said in a note. The production cut being considered was justified by the sharp decline in oil prices from recent highs, said Goldman Sachs (NYSE:GS), adding that this reinforced its bullish oil view. Concerns about the global economy could cap the upside, said Tina Teng, an analyst at CMC Markets, as investors also look to take profit on gains made in the previous session. "Uncertainties remain in the global markets, such as bond market turmoil, the sell-off in risk assets, and a skyrocketing U.S. dollar," said Teng. Oil prices have dropped for four straight months as COVID-19 lockdowns in top oil importer China curbed demand while interest rate hikes and a soaring U.S. dollar pressured global financial markets. Major central banks have embarked on the most aggressive round of rate rises in decades, sparking fears of a global economic slowdown. U.S. crude oil stocks were estimated to have increased by around 2 million barrels in the week to Sept. 30, a preliminary Reuters poll showed on Monday.
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By Isabel Kua SINGAPORE (Reuters) -Oil prices steadied on Tuesday after rising in the previous session on concerns that further U.S. interest rate hikes this week to tame inflation will curb economic growth and fuel demand in the world's biggest oil consumer. Brent crude futures for November settlement rose 3 cents to $92.03 a barrel by 0449 GMT. U.S. West Texas Intermediate crude for October delivery was at $85.76 a barrel, up 3 cents. The October contract will expire on Tuesday and the more active November contract was at $85.29, down 7 cents, or 0.1%. The dollar remained firm below a two-decade high versus major peers on Tuesday, ahead of a slew of central bank meetings around the world this week led by the U.S. Federal Reserve, which is likely to raise interest rates by another 75 basis points to rein in inflation. The stronger greenback makes dollar-denominated oil more expensive for buyers using other currencies and the expected rate increases have increased concerns that the tightening could trigger a global recession. "Oil prices have been sliding in a downtrend since mid-June, and recession fears and a slowdown growth in China are still the major bearish factors in general," said Tina Teng, an analyst at CMC Markets. While other major economies are tightening, China, the world's second-largest oil user on Tuesday left its benchmark lending rates unchanged as it tries to balance supporting its sluggish economic growth against the weakening yuan. Fears of aggressive central bank tightening are still driving concerns for a "quickly weakening global economy" and pressuring crude prices, said Edward Moya, a senior market analyst at OANDA, in a note. U.S. crude oil stocks are estimated to have risen last week by around 2 million barrels in the week to Sept. 16, a preliminary Reuters poll showed on Monday. The U.S. Energy Department will sell up to 10 million barrels of oil from the Strategic Petroleum Reserve for delivery in November, extending the timing of a plan to sell 180 million barrels from the stockpile to tame fuel prices. Signs that major producers are unable to meet their output quotas did give prices some support. An internal document from the Organization of Petroleum Exporting Countries and allies led by Russia, known as OPEC+, showed the group fell short of its oil production target by 3.583 million barrels per day (bpd) in August. In July, the group missed its target by 2.892 million bpd. The impasse over a revival of the Iran nuclear deal is also continuing to keep that country's exports from fully returning to the market. Russia said on Monday that unresolved issues remained in the negotiations while France's foreign minister said that it was up to Tehran to make a decision as the window to find a solution was closing. However, they are signs that higher oil prices this year are curbing demand. U.S. vehicle travel in July fell 3.3% from a year earlier, dropping for a second month.
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By Isabel Kua SINGAPORE (Reuters) - Oil prices inched lower on Wednesday on concerns of another U.S. Federal Reserve interest rate hike next week after consumer prices unexpectedly rose in August, outweighing support from a robust OPEC oil demand growth forecast. Brent crude futures fell 17 cents, or 0.2%, to $93.00 a barrel by 0633 GMT. U.S. West Texas Intermediate crude was at $87.20 a barrel, down 11 cents, or 0.1%. Pressuring prices was a hotter-than-expected U.S. inflation report on Tuesday that dashed hopes the Fed could scale back its rate policy tightening in the coming months. Fed officials are set to meet next Tuesday and Wednesday, with inflation remaining way above the U.S. central bank's 2% target. "A strong U.S. dollar and an expectation for another super-sized rate hike by the Fed weighed on sentiment," said Tina Teng, an analyst at CMC Markets. In China, tough ongoing COVID-19 curbs are squeezing fuel demand at the world's largest oil importer. "China's zero-COVID policy remains intact and that will keep any rebounds that emerge over the coming weeks capped," said Edward Moya, a senior market analyst at OANDA, in a note. "The U.S. is the big wildcard and if that demand outlook weakens, oil could resume its downward trajectory that has been in place since the start of the summer." On the supply side, U.S. crude stocks rose by about 6 million barrels for the week ended Sept. 9, according to market sources citing American Petroleum Institute figures on Wednesday. The U.S. government will release inventory data at 10:30 a.m. EDT (1430 GMT) on Wednesday. Lending some support to oil prices, the Organization of the Petroleum Exporting Countries (OPEC) on Tuesday reiterated forecasts for growth in global oil demand in 2022 and 2023, citing signs that major economies were faring better than expected despite headwinds such as surging inflation. Oil demand will increase by 3.1 million barrels per day (bpd) in 2022 and by 2.7 million bpd in 2023, OPEC said in a monthly report, leaving its forecasts unchanged from last month.
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By Alex Lawler LONDON (Reuters) -Oil rose on Friday supported by real and threatened cuts to supply, although crude was set for a second weekly decline as aggressive interest rate hikes and China's COVID-19 curbs weighed on the demand outlook. Russian President Vladimir Putin has threatened to halt oil and gas exports to Europe if price caps are imposed and a small cut to OPEC+ oil output plans announced this week also supported prices. Brent crude rose $1.36, or 1.5%, to $90.51 a barrel by 1200 GMT. U.S. West Texas Intermediate (WTI) crude climbed $1.55, or 1.9%, to $85.09. "Over the coming months, the West will have to contend with the risk of losing Russian energy supplies and oil prices soaring," said Stephen Brennock of oil broker PVM. Brent is down sharply from a surge in March close to its all-time high of $147 after Russia invaded Ukraine, pressured by worries about a recession and demand. Despite Friday's bounce, both crude benchmarks were headed for a weekly drop of more than 2%, with Brent this week hitting its lowest since January. "I think the sell-off in oil prices may come to a pause for now due to a recovery in risk sentiment across the board," said CMC Markets analyst Tina Teng, adding that a weaker dollar and falls in bond yields have offered support for a rebound in risk assets. While supply tightness supports the market, the European Central Bank's unprecedented rate hike of 75 basis points this week and more COVID-19 lockdowns in China have weighed. The city of Chengdu extended a lockdown for most of its more than 21 million residents on Thursday while millions more in other parts of China were told to shun travel during upcoming holidays.
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By Sonali Paul and Mohi Narayan (Reuters) -Oil prices rose 1% on Monday, as expectations that OPEC would cut output if needed to support prices, coupled with conflict in Libya and rising demand amid soaring natural gas prices in Europe, helped offset a dire outlook for U.S. growth. U.S. West Texas Intermediate (WTI) crude futures were up 45 cents, or 0.48%, to $93.51 a barrel by 0632 GMT, adding to a gain of 2.5% last week. Brent crude futures rose 16 cents, or 0.16%, to $101.15 a barrel, extending last week's gain of 4.4%. "Oil prices are inching higher on hopes of a production cut from OPEC and its allies to restore market balance in response to the revival of Iran's nuclear deal," said Sugandha Sachdeva, vice president of commodity research at Religare Broking. Strong U.S. oil exports and a bigger-than-expected draw of oil inventory in the last couple of weeks have also eased some demand concerns amid slowdown fears, Sachdeva added. Both benchmark contracts had traded lower earlier in the day as the dollar climbed after Friday's blunt comments from Federal Reserve Chairman Jerome Powell that the United States faced a prolonged period of slow growth amid further rate hikes. "While a strong dollar restrains broad commodity prices, the undersupply issue in the oil markets will probably continue to support the upside bias," CMC Markets analyst Tina Teng said. Oil prices have been buoyed by hints from Saudi Arabia and other members of the Organization of the Petroleum Exporting Countries and allies, together called OPEC+, that they could cut output in order to balance the market. The United Arab Emirates is aligned with Saudi thinking on output policy, a source told Reuters on Friday, while the Omani oil ministry also said it supported OPEC+ efforts to maintain market stability. Sources said last week OPEC would consider cutting output to offset any increase from Iran, should oil sanctions be lifted if Tehran agrees to revive a nuclear deal. Heavy clashes in Libya's capital that killed 32 on the weekend sparked concern that the country could slide into a full-blown conflict, leading to a disruption in supply of crude from the OPEC nation. "Besides, soaring gas prices are likely to result in gas-to-oil switching, which remains a positive trigger for prices," Sachdeva said.
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By Florence Tan SINGAPORE (Reuters) - Oil prices dropped on Monday, as weak manufacturing data from China and Japan for July weighed on the outlook for demand, while investors braced for this week's meeting of officials from OPEC and other top producers on supply adjustments. Brent crude futures were down 82 cents, or 0.8%, at $103.15 a barrel at 0608 GMT. U.S. West Texas Intermediate crude was at $97.44 a barrel, down $1.18, or 1.2%. Fresh COVID-19 lockdowns snuffed out a brief recovery seen in June for factory activity in China, the world's largest crude oil importer. The Caixin/Markit manufacturing purchasing managers' index (PMI) eased to 50.4 in July from 51.7 in the previous month, well below analysts' expectations, data showed on Monday. Japanese manufacturing activity expanded at its weakest rate in 10 months in July, data showed on Monday. "China's disappointing manufacturing PMI is the primary factor that pressed on oil prices today," CMC Markets analyst Tina Teng said. "The data shows a surprising contraction of economic activities, suggesting that the recovery of the world-second-largest economy from the covid lockdowns may not be as positive as previously expected, which darkened the demand outlook of the crude oil markets." Brent and WTI ended July with their second straight monthly losses for the first time since 2020, as soaring inflation and higher interest rates raise fears of a recession that would erode fuel demand. ANZ analysts said fuel sales to drivers in Britain were waning, while gasoline demand remained below its five-year average for this time of the year. Reflecting this, analysts in a Reuters poll reduced for the first time since April their forecast for 2022 average Brent prices to $105.75 a barrel. Their estimate for WTI fell to $101.28. The Organization of the Petroleum Exporting Countries (OPEC)and allies including Russia, a group known as OPEC+, will meet on Wednesday to decide on September output. Two of eight OPEC+ sources in a Reuters survey said a modest increase for September would be discussed at the Aug. 3 meeting, while the rest said output would likely be held steady. The meeting comes after U.S. President Joe Biden visited Saudi Arabia last month. "While President Biden's visit to Saudi Arabia produced no immediate oil deliverables, we believe that the Kingdom will reciprocate by continuing to gradually increase output," RBC Capital analyst Helima Croft said in a note. The start of August sees OPEC+ having fully unwound record output cuts in place since the COVID-19 pandemic took hold in 2020. The group's new secretary general, Haitham al-Ghais, reiterated on Sunday that Russia's membership in OPEC+ is vital for the success of the agreement, Kuwait's Alrai newspaper reported. Meanwhile, U.S. oil production continued to climb as the rig count rose by 11 in July, increasing for a record 23rd month in a row, data from Baker Hughes showed. [RIG/U] A break for Brent prices below key support level of $102.68 could trigger a drop into the range of $99.52 to $101.26, Reuters technical analyst Wang Tao said. [TECH/C]
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By Jeslyn Lerh and Sonali Paul SINGAPORE (Reuters) -Oil prices climbed in Asia trading on Friday, rebounding from previous declines amid supply tightness and geopolitical tensions, even though weakened demand in the United States has cast a shadow on the market this week. Brent crude futures rose $1.61, or 1.6%, to $105.47 a barrel by 0630 GMT, while U.S. West Texas Intermediate (WTI) crude futures gained $1.43, or 1.5%, to $97.78 a barrel. "Things are still negative on the economic front, but we are still in a structural shortfall for prompt oil and that means physical buyers will be there to support dips knowing the uncertainty of what lies ahead on the geopolitical front," said Stephen Innes, managing partner at SPI Asset Management. Innes said investors had next week's U.S. Federal Reserve decision on interest rates firmly on their minds. Fed officials have indicated that the central bank would likely raise rates by 75 basis points at its July 26-27 meeting. "While 75 is in the cards, guidance will be important and any softening in the rate hike outlook would be great for global growth," Innes added. While signs of softening U.S. demand weighed on oil prices and sent benchmark contracts sliding around 3% in the previous session, tight global supplies continued to keep the market buoyed. "Despite the sharp decline in oil prices, the outlook for the supply issue remains problematic. Until proven evidence for softened demands comes into sight, the (Ukraine) war-intensified supply shortage will keep the oil prices staying strong," said Tina Teng, an analyst at CMC Markets. WTI has been pummelled over the past two sessions after data showed that U.S. gasoline demand had dropped nearly 8% from a year earlier in the midst of the peak summer driving season, hit by record prices at the pump. In contrast, signs of strong demand in Asia propped up the Brent benchmark, putting it on course for its first weekly gain in six weeks. Demand in India for gasoline and distillate fuels rose to record highs in June, despite higher prices, with total refined product consumption running at 18% more than a year ago and Indian refineries operating near their busiest levels ever, RBC analysts said. "This signals much more than a strong recovery from COVID-plagued years," RBC analyst Michael Tran said in a note.
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By Huw Jones LONDON (Reuters) - Prospects for a firm start on Wall Street helped European shares claw back from a new low for the year on Thursday as investors weighed the risk of hefty interest rate rises tipping economies into recession. Tech-laden Nasdaq futures were up 1%, while S&P500 futures gained 0.7%. Stronger U.S. futures helped shares in Europe, reverse an earlier fall to a 2022 low on the back of dismal economic data in Germany and France. Crude oil also recouped earlier losses but copper remained at 16-month lows as fears of a slowdown cast a pall over the red metal. U.S. Treasury yields remained lower on Thursday after Federal Reserve Chair Jerome Powell, in testimony to the U.S. Senate Banking Committee on Wednesday, underlined the central bank's commitment to cutting inflation at all costs and acknowledged a recession was "certainly a possibility". "Powell said (money markets) are appropriately priced, which means we are going to double the Fed funds rate this year," said Jeremy Schwartz, global chief investment officer at Wisdom Tree Investments. "Coming into this year, we thought you might be able to avoid (recession) this year, but certainly the data has started to come in much more negative," Schwartz said. In a further sign of market caution, JPMorgan (NYSE:JPM) analysts said more investors were turning to cash, surpassing its previous peak in March 2020, when markets went into a tailspin due to COVID-19 lockdowns. The German economy, Europe's largest, suffered a sharp loss of momentum at the end of the second quarter, according to the latest Purchasing Managers' Index, while corresponding figures for France also showed weaker activity. UniCredit bank said the data, which sent euro zone bond yields plunging, was sounding an alarm bell, suggesting that growth momentum might be weakening sooner and more quickly than expected. Prices of copper and crude oil fell on prospects of less demand for fuel and building materials as consumers limit spending. "Copper has always been the lead indicator commodity for economic growth," said Patrick Spencer, vice chairman of equities at Baird Investment Bank. The MSCI all-country share index was down 0.14%, off its low for the day, adding to its slide of more than 20% for the year. "A slowdown is coming and it's really about degree," said Michael Hewson, chief markets analyst at CMC Markets. Spencer said there has been so much damage to stock markets that they had largely discounted a recession already. "If you look at the data, I think at worst what you are looking at is, maybe, a mild recession. I believe the markets are in a bottoming process, and maybe you've only got another 5% downside," Spencer said. CHINA FINTECH Stocks in Asia were mixed, with South Korea down 1.2% while China's blue chips rose 1.7%, and Japan's Nikkei was flat. Chinese tech shares in Hong Kong staged a strong rebound, rising 2.8%, after Chinese President Xi Jinping chaired a top-level meeting that approved a plan for further development of large payment firms and the fintech sector. Concerns about the demand outlook have sapped commodity prices, with oil tumbling on Thursday to the lowest in more than a month. Brent crude was down 0.3% at $111.46 a barrel and U.S. crude declined 0.36% to $105.81 a barrel, both well off their lows of the day. Iron ore was already at six-month lows, having lost more than 20% in recent weeks, while copper struck a 16-month trough. The yield on benchmark 10-year Treasury notes was down slightly, at 3.1337%. The two-year yield, which rises with traders' expectations of higher Fed fund rates, eased to 3.0398%, compared with a U.S. close of 3.056%. In foreign exchange markets, the dollar rose 0.340%against a basket of major currencies. The index was up more than 8% this year, reflecting the broad risk-off sentiment and the dollar's Fed-driven yield advantage. Gold was slightly lower, with spot prices traded at $1,827 per ounce, down 0.5% on the day. [GOL/]
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By Huw Jones LONDON (Reuters) - Wall Street was set to open higher on Monday, tracking gains in Asia and Europe as investors took expected interest rate hikes in coming days their stride for now despite crude oil hitting $120 a barrel. S&P 500 futures added 1% and Nasdaq futures 1.4%. U.S. listed shares in Chinese ride-hailing firm Didi Global surged 50% premarket after the Wall Street Journal reported that Chinese regulators were preparing to allow the mobile app back in domestic app stores. The news helped Hong Kong's Hang Seng tech index close 4.6% higher. Stocks in Europe were firmer from the open, with the STOXX index of 600 companies up 0.9%. The shift back into riskier assets came ahead of central bank meetings that investors hope will give clarity on whether inflation has peaked and how much growth could slow down. The European Central Bank meets on Thursday, though it is not expected to begin raising interest rates until July, with rate setters at the U.S. Federal Reserve and Bank of England gathering next week. "There is still some doubt as to whether or not inflation has peaked," said Michael Hewson, chief markets analyst at CMC Markets. "We are in a bit in a no-man's land at the moment with respect to peak inflation, and also China reopening and the possible tailwinds that might bring. Oil prices are still a headwind and so it's difficult to gain any direction," Hewson said. The MSCI all country stock index gained 0.3%, its recent rebound from near bear-market territory still largely intact. Blue chips in London were up 1.2%, along with sterling, shrugging off news that British Prime Minister Boris Johnson is to face a confidence vote by lawmakers from his governing Conservative Party on Monday. Oil prices firmed after Saudi Arabia raised prices sharply for its crude sales in July, an indicator of how tight supply is even after OPEC+ agreed to accelerate output increases over the next two months. [O/R] Brent was up 0.2% at $120.02 a barrel. U.S. crude rose 0.2% to $119.14 per barrel. Gregory Perdon, co-chief investment officer at Arbuthnot Latham, said investors have to weigh up bearish factors such as inflation, rising rates, war in Ukraine and a higher dollar against still accommodative monetary policy, good though slowing economic growth and Chinese stimulus. "On balance, I do think that risk-taking in this environment is going to be more rewarding than betting against risk assets," Perdon said. "We had seven out of eight weeks of negativity on the S&P 500 and it's probably a decent entry point in terms of adding risk to porfolios, assuming you don't have too much risk on to begin with." Sentiment was aided by comments from U.S. Commerce Secretary Gina Raimondo that President Joe Biden has asked his team to look at the option of lifting some tariffs on Chinese imports. ) " onerror="this.style.display='none'" class="msg-img" /> ECB, CPI LOOM At the ECB meeting on Thursday, President Christine Lagarde is considered certain to confirm an end to bond-buying this month and a first rate increase in July, though the jury is out on whether that will be 25 or 50 bps, as some investment banks ramped up their expectations. Money markets are priced for 130 bps of rate increases by year-end, with a 50 bps move at a single meeting fully priced in by October. The prospect of ECB rates turning positive this year helped the euro nudge up to $1.0724, some way from its recent trough of $1.0348, though it has struggled to clear resistance around $1.0786. The euro also made a seven-year peak on the yen at 140.39, after climbing 2.9% last week, while the dollar held at 130.67 yen having also gained 2.9% last week. Against a basket of currencies, the dollar stood at 102, little changed on the day, after firming 0.4% last week. After the ECB on Thursday, markets will scrutinise the U.S. consumer price report on the following day, especially after EU inflation shocked many with a record high last week. Forecasts are for a steep rise of 0.7% in May, though the annual pace is seen holding at 8.3% while core inflation is seen slowing a little to 5.9%. A high number would only add to expectations of aggressive tightening by the Fed next week, with markets already priced for half-point increases in June and July and almost 200 basis points (bps) by the end of the year. In commodity markets, wheat futures jumped 4% after Russia struck Ukraine's capital, Kyiv, with missiles, dampening hopes for progress in peace talks. Gold was at $1,854 an ounce, up 0.2%, having held to a tight range for the past couple of weeks. [GOL/]
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By Isabel Kua SINGAPORE (Reuters) - Oil prices inched lower on Tuesday as Hungary resisted a European Union push for a ban on Russian oil imports, a move that would tighten global supply, with investors taking profits on a recent rally. Brent crude futures fell 11 cents, or 0.1%, to $114.13 a barrel by 0602 GMT, and U.S. West Texas Intermediate (WTI) crude futures slid 22 cents, or 0.2%, to $113.98 a barrel. Both benchmarks gained more than 2% on Monday, following a 4% jump on Friday. EU foreign ministers failed on Monday in their effort to pressure Budapest to lift its veto of a proposed oil embargo on Russia following the country's invasion of Ukraine. An embargo would require approval from all EU nations. On the supply side, U.S. producers are ramping up in order to replenish inventories that have dwindled in the wake of Russia's war on Ukraine - which Moscow calls "a special military operation" - and recovery from the COVID-19 pandemic. Oil output in the Permian Basin in Texas and New Mexico, the biggest U.S. shale oil producer, is due to rise 88,000 barrels per day (bpd) to a record 5.219 million bpd in June, the U.S. Energy Information Administration (EIA) said on Monday. Still, overall sentiment on prices remained bullish amid optimism about demand recovery in China as it looks to ease COVID restrictions that have hurt its economy, analysts said. "All supply data suggest dips will be shallow despite potential demand destruction from China's lockdown but even in that view, we are seeing the light at the end of the lockdown tunnel trade," said Stephen Innes, managing partner at SPI Asset Management, in a note. Shanghai on Tuesday achieved the long-awaited milestone of three consecutive days with no new COVID-19 cases outside quarantine zones and set out on Monday its clearest timetable yet for exiting a lockdown now in its seventh week. Further supporting prices was the "intensifying geopolitical tension" between EU and Russia as Sweden and Finland seek to join NATO, CMC Markets analyst Tina Teng said. "This could cause a retaliation action by Russia to further cut gas supply," she added. Stockpiles in the Strategic Petroleum Reserve (SPR) fell to 538 million barrels, the lowest since 1987, data from the U.S. Department of Energy showed on Monday, underlining tight supply.
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By Florence Tan SINGAPORE (Reuters) - Oil prices slipped on Monday, along with stock markets in Asia, sparked by weak China data and fears a global recession could dampen oil demand, with investors eying European Union talks on a Russian oil embargo that could tighten global supplies. Brent crude lost 41 cents, or 0.4%, to $111.98 a barrel by 0603 GMT. U.S. West Texas Intermediate crude was at $109.24 a barrel, down 53 cents, or 0.5%. Both contracts briefly turned positive after falling more than $1 earlier in the session. "The broader risk-off sentiment sparked by the recession fears, and China's lockdowns are the major factors that pressure the oil price," CMC Markets analyst Tina Teng said. Global financial markets have also been spooked by concerns over interest rate hikes and recession worries as tighter and wider COVID-19 lockdowns in China led to slower export growth in the world's No. 2 economy in April. Crude imports by China, the world's top oil importer, rose nearly 7% in April from a year earlier although imports for the first four months fell 4.8% on year. A price cut by Saudi Arabia also reflected worries over global oil demand, Teng said. Saudi Arabia, world's top oil exporter, lowered crude prices for Asia and Europe for June on Sunday. EU RUSSIA OIL EMBARGO Last week, the European Commission proposed a phased embargo on Russian oil as part of its toughest-yet package of sanctions over the conflict in Ukraine, boosting Brent and WTI prices for the second straight week. However, the proposal requires a unanimous vote among EU members this week. The EU proposal was followed by a pledge by G7 nations on Sunday to ban or phase out Russian oil imports. Washington also imposed new sanctions against Gazprombank executives and other businesses. Japan, part of G7 and one of the world's top five crude importers, will ban Russian crude imports "in principle", Prime Minister Fumio Kishida said on Sunday. "It seems inevitable that both the EU and Japan will be competing for more non-Russia supplies in the future, and this is underpinning prices," said Jeffrey Halley, OANDA's senior analyst, in a note. Bulgaria's Deputy Prime Minister, however, said on Sunday that his country would veto EU oil sanctions on Russia if it does not get a derogation from the proposed ban. "The talks will continue tomorrow, on Tuesday too, a meeting of the leaders may be needed to conclude them. Our position is very clear. If there be a derogation for some of the countries, we want to get a derogation too," Vassilev told national BNT television. Bulgaria had earlier said it would seek an exemption from the proposed Russian oil ban if such opt-outs were allowed, but it was not clear if it was seeking a full exemption or a delay similar to the one proposed on Friday for Hungary, Slovakia and the Czech Republic.
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By Huw Jones LONDON (Reuters) - Stocks edged higher on Wednesday, but gains were capped by questions over how far real bond yields will rise as investors sifted through disappointing Netflix (NASDAQ:NFLX) earnings and war continued in Ukraine. The STOXX index of 600 European companies gained 0.4% to 458.17 points. The MSCI all country stock index was 0.2% firmer. Investors kept a wary eye on the 10-year Treasury Inflation-Protected Securities (TIPS), whose yields briefly broke above negative territory on Tuesday for the first time since March 2020. A rise in real yields poses a fresh headwind for risky assets such as stocks, especially big tech firms which report earnings next week, now more closely scrutinised after Netflix shares sank on Tuesday evening after news it was losing subscribers. Tech-heavy Nasdaq futures were down 0.6 percent, with S&P500 futures shedding 0.3% "You are going to have to see real yields in much more positive territory before they make stock markets less attractive," said Michael Hewson, chief market analyst at CMC Markets. "The bigger question the markets are wrestling with at the moment is has inflation peaked? If inflation has peaked, then maybe it's a good time to buy bonds again, which is why we are seeing so much uncertainty as to the future direction of the stock markets," Hewson said. The dollar climbed to a fresh two-decade peak to the yen, buoyed as the Bank of Japan stepped into the market again to defend its ultra low interest rate policy. Data is beginning to emerge from the International Monetary Fund this week on how much the two-month old war in Ukraine is hitting the global economy. The U.S. Federal Reserve issues its "Beige Book" of economic conditions from late February to early April on Wednesday. "We expect the pace of economic activity eased slightly to a modest pace," UniCredit analysts said in a note. In Europe, German producer prices hit a record high amid war in Ukraine. In an election which has rattled French bonds, President Emmanuel Macron and far-right candidate Marine Le Pen will face each other in a televised debate on Wednesday evening. Macron, however, appears to be pulling ahead of Le Pen in the polls ahead of Sunday's final round in the election. ASIA SHARES RISE MSCI's broadest index of Asia-Pacific shares outside Japan rose 0.3%, its first positive session in a week. Japan's Nikkei rose 0.8%, like other markets in the region tracking Tuesday's gains on Wall Street where the three main benchmarks had their best days in over a month, helped by several strong earnings results. The Nasdaq closed up 2.2%. China bucked the regional trend as Chinese blue chips shed 1.5% after the central bank kept its benchmark lending rates unchanged, despite frequent government pledges to support a slowing economy hit by the worst COVID-19 outbreak in two years. That decision in contrast helped the Chinese yuan recover after hitting its lowest since October in early trade. "Investors were looking for stimulus from China but the PBOC didn't deliver today," said Carlos Casanova. "Markets inevitably are going to interpret that in a negative way with the lockdowns extending into April and beyond, meaning the worst months for economic data are ahead of us." The yield on a highly -traded contract of China's 10-year government bond fell below U.S. 10-year Treasury yield for the first time since 2010 on earlier this month, and Chinese 10 year yields were last around 2.85%. Benchmark 10-year Treasury yields were within a whisker of 3% on Wednesday - though were little changed on the day. Yield differentials are also a factor for Japan, where the central bank on Wednesday offered to buy an unlimited amount of 10-year Japanese government bonds (JGB) at 0.25%, in its third move since February to defend its yield target. This yield curve control has sent the yen to 20-year lows against the dollar, but the dollar retreated 0.2% on the yen on Wednesday amid some nerves that intervention - verbal or otherwise - from Japanese authorities could drive a bounce. Oil prices rebounded from sharp losses in the previous session as concerns about tighter supplies from Russia and Libya dominated. Brent crude futures rose 1.2% to $108.55 a barrel. Spot gold fell 0.4% to its lowest in a week dragged down by higher yields.
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Coinlist sowie CMC schauen ist schon ganz gut, gibt noch 1-2 ICO Seiten (damals waren es ICOs in 2017) sind ganz nützlich
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By Uday Sampath Kumar and Chavi Mehta (Reuters) -Elon Musk took aim at Twitter (NYSE:TWTR) with a $41 billion cash offer on Thursday, with the Tesla (NASDAQ:TSLA) CEO and billionaire entrepreneur saying the social media giant needs to be taken private to grow and become a platform for free speech. "Twitter has extraordinary potential. I will unlock it," Musk, who is already the company's second-largest shareholder, said in a letter to Twitter's board on Wednesday. The offer was made public in a regulatory filing on Thursday. Musk's offer price of $54.20 per share represents a 38% premium to Twitter's April 1 close, the last trading day before his 9.1% stake in the social media platform was made public. Musk rejected an invitation to join Twitter's board this week after disclosing his stake, a move which analysts said signaled his takeover intentions as a board seat would have limited his shareholding to just under 15%. He told Twitter it was his best and final offer and said he would reconsider his investment if the board rejects it. "Since making my investment I now realize the company will neither thrive nor serve this societal imperative in its current form. Twitter needs to be transformed as a private company," Musk said in his letter to Twitter Chairman Bret Taylor. Musk, who calls himself a free-speech absolutist, has been critical of the social media platform and its policies, and recently ran a poll on Twitter asking users if they believed it adheres to the principle of free speech. Twitter will review the offer with advice from Goldman Sachs (NYSE:GS) and Wilson Sonsini Goodrich & Rosati, a source told Reuters. Shares in Twitter rose about 5% in pre-market trading to $48.30 in New York, where they were the most actively traded, while Tesla stock fell by about 2%. Based on its Wednesday closing price of $45.85, Twitter's share price reaction implied a 29% chance of Musk clinching a deal. The total deal value of $41 billion was calculated based on 763.58 million shares outstanding, according to Refinitiv data. Musk said U.S. investment bank Morgan Stanley (NYSE:MS) was acting as financial adviser for his offer. However, he did not say how he would finance the transaction if it goes ahead. "We think Musk could look to fund the transaction, if approved, through a combination of debt financing and potentially Tesla shares. Given the size of the transaction (about $43B), we think it is conceivable that some Tesla shares could be sold given much of his wealth is tied to the company," CFRA Research analyst Angelo Zino said. Musk, the richest person in the world according to a tally by Forbes, sold more than $15 billion worth of his Tesla shares, about 10% of his stake in the electric vehicle maker, late last year to settle a tax obligation. 'SERIAL UNDERPERFORMER' Twitter's lower-than-expected user additions in recent months have raised doubts about its growth prospects, even as it pursues big projects such as audio chat rooms and newsletters. "The big question for the Twitter board now is whether to accept a very generous offer for a business that has been a serial underperformer and tends to treat its users with indifference," Michael Hewson, Chief Market analyst at CMC Markets, said after the announcement of Musk's offer. Musk has amassed more than 80 million followers since joining Twitter in 2009 and has used it to make several announcements, including teasing a go-private deal for Tesla that landed him in hot water with regulators. He has also been sued by former Twitter shareholders who claim they missed out on the recent run-up in its stock price because he waited too long to disclose his stake. "If he really wants to take Twitter private his past run-ins with regulators might not pose an obstacle – but it might make potential financing sources leery of providing the cash for the deal – unless he is willing to pledge a large portion of his Tesla holdings to collateralize the debt," Howard Fischer, a partner at law firm Moses & Singer and former senior trial counsel at the U.S. Securities and Exchange Commission (SEC). Musk's move also raises the question of whether other bidders might emerge for Twitter, although the initial share price reaction did not suggest this was widely expected. "It would be hard for any other bidders/consortium to emerge and the Twitter board will be forced likely to accept this bid and/or run an active process to sell Twitter," Wedbush Securities analyst Daniel Ives wrote in a client note. "There will be host of questions around financing, regulatory, balancing Musk's time (Tesla, SpaceX) in the coming days but ultimately based on this filing it is a now or never bid for Twitter to accept," Ives said.
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Scammers Impersonate CoinMarketCap to Sell Fake 'CMC' Tokens https://cryptonews.com/news/scammers-impersonate-coinmarketcap-sell-fake-cmc-tokens.htm
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By Bozorgmehr Sharafedin LONDON (Reuters) -Oil prices fell around $7 a barrel on Monday as investors pinned hopes on diplomatic efforts between Ukraine and Russia to end their conflict, while a surge in COVID-19 cases in China spooked the markets. Brent was down by $6.78, or 6%, at $105.89 a barrel at 1358 GMT and U.S. crude fell $7.01, or 6.4%, to $102.32. Both benchmarks have surged since Russia's Feb. 24 invasion of Ukraine and are up roughly 40% in the year to date. Ukrainian and Russian negotiators are set to talk again on Monday via video link. Negotiators had given their most upbeat assessments after weekend negotiations, suggesting there could be positive results within days. "Beside new talks between Ukraine and Russia, I guess new lockdowns in China are the reason for a negative start of the week for crude oil," said UBS analyst Giovanni Staunovo. A northeastern Chinese province on Monday imposed a rare travel ban on its population as the region's Omicron outbreak helped drive China's tally of new local COVID-19 cases so far this year higher than the total in 2021. "Oil prices might continue moderating this week as investors have been digesting the impact of sanctions on Russia, along with parties showing signs of negotiation towards (a) ceasefire," said Tina Teng, an analyst at CMC Markets. Russia's output of oil and gas condensate rose to 11.12 million barrels per day (bpd) so far in March, two sources familiar with production data told Reuters, despite sanctions. The United States has announced a ban on Russian oil imports and Britain said it would phase them out by the end of 2022. Russia is the world's top exporter of crude and oil products combined, shipping about 7 million bpd or 7% of global supplies. A senior minister said British Prime Minister Boris Johnson was trying to persuade Saudi Arabia to increase its oil output, while International Energy Agency (IEA) chief Fatih Birol urged oil-producing countries to pump more. India said it would take "appropriate" steps to calm the rise in oil prices, indicating the country could release more oil from its national stocks if required. Indian officials also said New Delhi was considering a Russian offer to buy its crude oil and other commodities at discounted prices via a rupee-rouble transaction. Meanwhile, investors are watching this week's meeting of the U.S. Federal Reserve, which is expected to start raising interest rates, a move that would boost the dollar and could push down oil prices. A stronger greenback makes dollar-denominated oil more expensive for holders of foreign currencies.
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Ok, aber warum ist das so wenn es doch auf CMC und CG geführt ist? > @lueley said: DEX screener zählt,nix weiter
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Jetzt ist die Diskrepanz groß, CMC 1,69, CG und Dex Screener 1,54. KP warum
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Es sind doch erst wenige Stunden, CMC und CG bilden die FYN Token auch erst seit kurzem ab, Marketing hat gerade erst begonnen und im Großen und Ganzen läuft der Token noch völlig unterm Radar. Ich bin da sehr positiv eingestellt...es werden natürlich immer auch Token getradet, aber es fließt ja auch wieder Geld nach
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Weil es dann als Vorschlag bei CMC erscheint ähnlich Google?
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Mir sagt luckblock nix, ist das die lotto Nummer? > @Miguel-Twentyfive said: "Was haltet ihr von Luckyblock? Ging ja jetzt auch gut los dort. Meint ihr der kommt nochmal? Soll ja anscheinend ab Februar bei binance gelistet werden. ". mal schauen, ich bin mit ner kleinen posi dabei und les auch n bissl im telegram-chat. macht erstmal nen ganz ok'en eindruck, aber viele fanboys am start. die binancelistung ist beantragt, steht aber in den sternen. solidproof audit vorhanden, denke sonnst wäre eine listung auf gekko und cmc auch nicht gegangen. es wird drauf ankommen wie viele leute sie gewinnen, aktuell sieht es ganz gut aus und das marketing macht auch keinen ganz schlechten job. aber highrisk, obacht!
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"Was haltet ihr von Luckyblock? Ging ja jetzt auch gut los dort. Meint ihr der kommt nochmal? Soll ja anscheinend ab Februar bei binance gelistet werden. ". mal schauen, ich bin mit ner kleinen posi dabei und les auch n bissl im telegram-chat. macht erstmal nen ganz ok'en eindruck, aber viele fanboys am start. die binancelistung ist beantragt, steht aber in den sternen. solidproof audit vorhanden, denke sonnst wäre eine listung auf gekko und cmc auch nicht gegangen. es wird drauf ankommen wie viele leute sie gewinnen, aktuell sieht es ganz gut aus und das marketing macht auch keinen ganz schlechten job. aber highrisk, obacht!
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Wo wird eigentlich als erstes der Chart abgebildet? CMC?
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die tokenomics finde ich bei cmc besser @SNX80
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Wie ist eig hier so die Meinung zu highstreet (high) ist ein metavers was aktuell auch bei binance im launchpool is mk ist laut bot in den ihrer Gruppe bei 30 Mio grad (cmc CoinGecko etc steht noch nix) also find eig grad die Mk da noch sehr attraktiv
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UK Market Snapshot Finished in the red yesterday, after data showed that UK inflation surged in November to its highest level in more than a decade. Cineworld Group sank 39.4%, after the company was ordered to pay Cineplex CAD1.28 billion in damages, after cancelling a planned takeover. Currys declined 9.3%, after the company reported a decline in its sales for the first half of the year. International Consolidated Airlines Group dropped 5.1%, after the company announced that it was in talks to cancel the acquisition of Air Europa from Spain’s Globalia. On the flipside, DCC climbed 9.0%, after the sales and marketing company purchased the US sales and distribution business, Almo, for around $610.0 million. Playtech rose 2.1%, amid reports that Caliente Interactive, in which it owns a 49% stake, was in talks about a $2.5 billion merger with Tekkorp Digital. The FTSE 100 declined 0.7%, to close at 7,170.8, while the FTSE 250 fell 0.5%, to end at 22,433.9. European Market Finished higher yesterday, amid gains in technology and healthcare sector stocks. Assicurazioni Generali rose 0.3%. The insurance company announced that it would return up to €6.1 billion to shareholders by 2024 in dividends and with its first buyback in 15 years. On the contrary, Etablissementen Franz Colruyt declined 9.4%, after the company posted a drop in its third quarter profit. Industria de Diseno Textil eased 5.2%. The fashion retailer reported an increase in its third quarter profit and sales. H&M Hennes & Mauritz dropped 2.8%, even though the company reported a rise in its sales in the fourth quarter. Skandinaviska Enskilda Banken fell 2.2%, after the company announced that it had been hit with a €511 million tax demand from Germany. The FTSEurofirst 300 index gained 0.2%, to settle at 1,826.8. The German DAX Xetra rose 0.1%, to settle at 15,476.4, while the French CAC-40 added 0.5%, to close at 6,927.6. US Market Closed higher yesterday, after the US Federal Reserve (Fed) announced plans to battle rising inflation. CMC Materials skyrocketed 33.9%, after the advanced materials supplier agreed to be acquired by Entegris in a cash-and-stock deal worth $6.5 billion. Vir Biotechnology jumped 12.1%, after the drugmaker announced that further data showed that its Covid-19 antibody therapy developed with GlaxoSmithKline was effective against the omicron variant. Eli Lilly climbed 10.4%, after the company raised its annual profit and revenue outlook. Six Flags Entertainment advanced 3.7%, following a rating upgrade on the stock to ‘Buy’ from ‘Neutral’. Meanwhile, R.R. Donnelley & Sons dropped 2.8%. The company announced that it has accepted the takeover offer by Chatham Asset Management of around $897 million. The S&P 500 gained 1.6%, to settle at 4,709.9. The DJIA rose 1.1%, to settle at 35,927.4, while the NASDAQ added 2.2%, to close at 15,565.6. Asian Market Trading mostly higher this morning. In Japan, Tokai Carbon and Olympus have added 3.6% and 3.9%, respectively. Meanwhile, Mitsui Chemicals and Japan Post Holdings have fallen 0.3% and 0.4%, respectively. In Hong Kong, Tencent Holdings and WH Group have dropped 1.4% and 1.9%, respectively. Meanwhile, Longfor Group Holdings and CNOOC have risen 0.9% and 1.3%, respectively. In South Korea, Kumho Electric and PaperCorea have climbed 7.7% and 8.6%, respectively. Meanwhile, BK Tops and Dynamic Design have declined 4.4% and 5.3%, respectively. The Nikkei 225 index is trading 1.8% higher at 28,967.0. The Hang Seng index is trading 0.8% down at 23,231.5, while the Kospi index is trading 0.1% higher at 2,992.2.
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@bilalkhaniub #Market Masters Academy
CMC got hacked
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**@TheCryptoDog:** honestly forgot about CMC :/ https://twitter.com/TheCryptoDog/status/1470877308345106438
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UK Market Closed lower yesterday, after the latest UK inflation figures stoked expectations of an earlier than expected interest rate hike. CMC Markets declined 10.5%, after the financial services company reported a drop in its pretax income in the first half of the year. Spirax-Sarco Engineering dropped 4.9%, after the company warned about difficulties in its supply chain. SSE fell 4.3%, after the renewable power generator and network operator reported a decline in its renewable power output. Experian shed 4.0%, even though the company lifted its annual outlook and reported a strong growth in the first half of the year. Marks & Spencer Group slid 1.9%, after a top broker downgraded its rating on the stock to ‘Hold’ from ‘Buy’. On the flipside, Sage Group climbed 9.7%, after the company announced that it expects its upbeat performance in its cloud offering to increase revenue growth in the coming year. The FTSE 100 slipped 0.5%, to close at 7,291.2, while the FTSE 250 fell 0.5%, to end at 23,434.1. . European Market Finished higher yesterday, on optimism about economic growth and amid upbeat earnings. Siemens Healthineers advanced 5.6%, after the medical technology firm forecasted a double-digit annual sales growth from 2023 to 2025. On the other hand, Fresenius Medical Care fell 1.9%, after the company announced that it would cut around 500 to 750 jobs in Germany as part of its recently announced plan of 5,000 job cuts worldwide. Basler shed 1.1%, after the company announced that it has been target of an external cyberattacks leading to huge obstructions to its IT infrastructure. NicOx slid 0.6%, following news that the ophthalmology company was granted patent for blepharitis product candidate NCX 4251 in Europe. The FTSEurofirst 300 index gained 0.2%, to close at 1,897.1. Among other European markets, the German DAX Xetra 30 marginally rose to close at 16,251.1, while the French CAC-40 advanced 0.1%, to settle at 7,156.9. . US Market Closed lower yesterday, amid concerns over inflation. Roku declined 11.3%, after a top broker downgraded its rating on the stock to ‘Sell’ from ‘Neutral’. La-Z-Boy dropped 7.7%, even though the company reported better than expected revenue and earnings in the second quarter. Target fell 4.7%, after the company announced that rising costs might affect its growth as it plans to absorb those costs instead of passing them onto customers. Visa shed 4.7%, following news that Amazon would stop accepting Visa credit cards issued in the UK from next year. On the other hand, TJX advanced 5.8%, after the apparel and home retailer reported an increase in its third quarter earnings. Lowe’s rose 0.4%, after the retailer reported upbeat results in the third quarter and lifted its annual outlook. The S&P 500 slipped 0.3%, to settle at 4,688.7. The DJIA fell 0.6%, to settle at 35,931.1, while the NASDAQ dropped 0.3%, to close at 15,921.6. . Asia Market We’re trading lower this morning, tracking overnight losses on Wall Street In Japan, Advantest and Inpex have dropped 3.2% and 7.1%, respectively. Meanwhile, Nikon and Sharp have advanced 2.1% and 2.8%, respectively. In Hong Kong, Tencent Holdings and Meituan have fallen 2.5% and 3.2%, respectively. Meanwhile, CLP Holdings and BYD have risen 0.4% and 1.7%, respectively. In South Korea, YG PLUS and Kumho Tire have declined 5.1% and 6.3%, respectively. Meanwhile, Ascendio and Jico have climbed 10.1% and 29.7%, respectively. The Nikkei 225 index is trading 0.8% lower at 29,446.1. The Hang Seng index is trading 1.3% down at 25,305.1, while the Kospi index is trading 0.1% lower at 2,959.7
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By Huw Jones LONDON (Reuters) - Wall Street was headed for a steady start on Friday, helping stocks to consolidate record highs in Europe on the back of strong earnings and shrug off renewed selling in U.S. Treasury markets. The dollar was set for it biggest weekly rise in five months, helping to send crude oil prices down nearly 2% a barrel. U.S. Treasury markets were closed on Thursday for a holiday, but selling resumed on Friday, driven by Wednesday's news of the biggest annual rise in U.S. inflation in 31 years. Worry over interest rate hikes to quell inflation could catch up with riskier assets like stocks, analysts cautioned. "It's all about the June Fed meeting in my mind, which is almost priced in as a hike," said Peter Chatwell, head of multi-asset strategy at Mizuho in London. "We're at the inflection point whereby any further hawkish repricing of dollar rates markets is likely to weigh much more heavily on risk assets than it has in the past." In Europe, euro zone money markets priced in two full European Central Bank rate hikes by the end of next year. A Reuters poll showed the Bank of England is expected to be the first major central bank to raise rates, probably next month. U.S. stock futures were slightly firmer as shares in Johnson & Johnson (NYSE:JNJ) rose before the bell on news it was planning to break up into two companies. Tesla (NASDAQ:TSLA) Inc Chief Executive Officer Elon Musk sold more shares of the electric carmaker, regulatory filings showed on Friday. The world's stock prices posted their biggest fall in over a month on Wednesday on data showing the U.S. consumer price index rose 6.2% year-on-year in October, the strongest advance since November 1990. However, European shares chalked up new highs on Friday, with the STOXX index of 600 companies up 0.08%, enough to eke out a new record high for a second day running. The CAC 40 French blue chip index in Paris also clocked up a new high, helped by a rise in luxury companies following strong earnings from Cartier-owned Richemont. The MSCI All Country stock index was up 0.1% at 752.79 points, recovering its footing after Wednesday's drop in the wake of the U.S. inflation data. The index is barely six points below Tuesday's record high. "Directionally, the line of least resistance is for lower bond prices and higher yields and the stock market does not seem to care that much," said Mike Hewson, chief markets analyst at CMC Markets. Bond yields ticked up on Friday, with the 10-year U.S. Treasuries yield at 1.57%. "Inflation is obviously a risk to watch. But stock prices will face a major crash only if the Federal Reserve turns out to be completely wrong in its assessment and is forced to raise interest rates rapidly. That's not where we are now," said Norihiro Fujito, chief investment strategist at Mitsubishi UFJ (NYSE:MUFG) Morgan Stanley (NYSE:MS) Securities. OIL SLUMPS In the currency market, the dollar held firm after Wednesday's strong U.S. inflation reading fanned expectations the Fed would tighten monetary policy faster than previously thought. An index of the dollar against six other currencies was flat at 95.160, on track for its biggest weekly rise in five months. The yen was trading at 113.97 per dollar, down slightly on the day and near its four-year low hit last month, while commodity currencies such as the Australian dollar and the Canadian dollar were on a back foot. Oil prices dipped as the market grappled with a stronger U.S. dollar, along with concern over increasing U.S. inflation, and after OPEC cut its 2021 oil demand forecast due to high prices. Brent crude futures were down 1.76% at $81.40 per barrel, while U.S. West Texas Intermediate (WTI) futures dropped 1.9% to $80.02 per barrel. Gold prices eased off Wednesday's five-month highs to $1,853 per ounce, down 0.4% on the day. Shares in Asia were largely steady, with Japan's Nikkei up 1.13%, helped by brisk earnings. MSCI's broadest index of Asia-Pacific shares outside Japan rose 0.62%, but mainland Chinese shares were softer, with CSI 300 index slipping 0.2%.
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CMC comes back this week, fingers crossed
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@lueley wie siehst du Blok (bloktopia) ? Ist ja auch im nft Bereich, hab vor 2 Tagen das erste mal vom Namen her gehört geht wohl um eine nft Welt mit vr Brille und ist laut cmc die letzte Woche echt gut durch gestartet
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By Huw Jones LONDON (Reuters) - Stocks advanced on Friday as strong earnings kicked off a new results season on Wall Street and fears that inflation will trigger earlier-than-expected interest rate rises eased for now. The MSCI All World Share Index was up 0.31%. U.S. stock futures were about 0.4% higher, with investors waiting for the latest U.S. retail sales figures, and inflation expectations from the University of Michigan. Earnings from Goldman Sachs (NYSE:GS) were expected to be in line with strong results on Thursday from several of its U.S. peers which propelled shares higher. "The overall mood is buy the bid, there is no alternative to equities. We have come out with this enthusiasm about earnings coming back and optimism coming through," said Kit Juckes, global fixed income strategist at SocGen. In Europe, the STOXX index of 600 European shares was up 0.3%, hitting a three-week high. Britain's FTSE 100 gained 0.2%, with the UK blue-chip index recovering all ground lost since the coronavirus pandemic began in March last year, but analysts warned over complacency in markets. "Markets have been trying to make up their mind on whether inflation is transitory, are supply chain disruptions are going to translate into higher costs," said Mike Hewson, chief markets analyst at CMC Markets. "But this week's earnings from various companies are assuaging some of those concerns that companies won't be able to pass on some of these cost rises to consumers, and that's why we are seeing the increase in risk," Hewson said. The return of optimism will be tested by next week's anticipated weaker growth data from China and the impact of strengthening oil prices on consumers going into the winter months, Hewson said. European car registrations slumped by more than a quarter in September, and Toyota Motor (NYSE:TM) Corp said it would cut global output in November as chip shortages and supply chain problems continued to dog the sector. Investors were also trying to figure out where bonds go next. "With no strong case for either direction and many investors likely to be sitting on a dismal performance as major fixed income indices are in the red year-to-date, yield volatility is likely to remain elevated in the coming months," UniCredit told clients in a note. " onerror="this.style.display='none'" class="msg-img" /> BRENT AND BITCOIN Oil prices were at multi-year highs, a drag on growth in energy-importing markets in north Asia, but good news for some energy-exporting markets in Southeast Asia. U.S. crude gained 0.9% to $82.05 a barrel, back near Monday's seven-year high of $82.18. Brent crude rose 1% to $84.91 per barrel, around its three-year high hit on Monday. [O/R] Bitcoin hit a six-month high of $60,000 on Friday, approaching the record hit in April, as traders became increasingly confident U.S. regulators would approve the launch of an exchange-traded fund based on its futures contracts. MSCI's broadest index of Asia-Pacific shares outside Japan gained 1.2%, and was set for a 1.7% weekly gain, which would be its best weekly performance since early September, while Japan's Nikkei surged 1.81%, led by tech stocks. Analysts largely attributed the gains in Asia to the U.S. rally. Chinese shares rose more cautiously than elsewhere with blue chips up 0.38% ahead of next week's growth figures. "We expect GDP growth to slow to 4.6% year-on-year in the third quarter from 5.6% previously, in view of persistent weakness in consumption and services amid repeated COVID outbreaks, and the fading of the low year-earlier base," said Barclays (LON:BARC) analysts in a note. In currency markets, the dollar rose again to a near three- year high versus the yen with one dollar buying 114.32 yen, the most since late 2018. The dollar index, which measures the greenback against a basket of currencies, was marginally lower on the day, at 93.89 and set for its first weekly decline versus major peers since the start of last month, having lost a little ground to sterling and the euro. The yield on benchmark 10-year Treasury notes was 1.5388%, slightly higher on the day, after trending downwards this week from Tuesday's four-month high of 1.631%. Graphic: Bitcoin on the rise https://fingfx.thomsonreuters.com/gfx/
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@DarkPoolAlgo #Dark Pool Charts
Thursday, October 14, 2021 Futures Up/Down % Last Dow 205.00 0.60% 34,461 S&P 500 28.25 0.67% 4,384 Nasdaq 116.50 0.79% 14,880 Stock futures are jumping overnight, extending yesterday’s gains ahead of key earnings reports and inflation data. Stocks advanced on Wednesday as the S&P 500 and Nasdaq outperformed after a choppy session, with Big Tech doing much of the heavy lifting, led by shares of Microsoft, Amazon, Alphabet, and Nvidia. Minutes from the September Federal Reserve policy meeting showed central bankers signaled they could start reducing crisis-era support for the economy in mid-November, although they remained divided about how soon they may need to raise interest rates. Inflation data was in-line with forecast for consumer prices ahead of today’s producer price index at 8:30 AM ET. Banks the other top story with earnings this week, with JPMorgan falling after its third-quarter earnings beat expectations. Bank of America, Citigroup, Wells Fargo and Morgan Stanley are set to report results this morning. In Asian markets, The Nikkei Index rose 410 points to 28,550, while the Shanghai Index was little changed at 3,558. In Europe, the German DAX is rising 130 points to 15,380, while the FTSE 100 gains about 50-points to move just below the 7,200 level. Market sentiment improving after a rough start to the week, helped yesterday on news Port of Los Angeles to go 24/7 joining neighboring Port of Long Beach as the expanded operations would nearly double the hours that cargo can move and help remove the glut at ports and improve inventory for retail and food stores. Oil prices rose by about 1% after the International Energy Agency said that record natural gas prices will boost demand for oil and top oil producer Saudi Arabia dismissed calls for additional OPEC+ supplies. Market Closing Prices Yesterday The S&P 500 Index gained 13.15 points, or 0.30%, to 4,363.80 The Dow Jones Industrial Average little changed, or 0.00%, to 34,377.81 The Nasdaq Composite jumped 105.71 points, or 0.73%, to 14,571.63 The Russell 2000 Index advanced 7.70 points, or 0.34% to 2,241.97 Events Calendar for Today 8:30 AM ET Weekly Jobless Claims…est. 319K 8:30 AM EST Continuing Claims…est. 2.675M 8:30 AM ET Producer Price Index (PPI) Headline MoM for September…est. +0.6% 8:30 AM ET PPI Core: Ex Food & Energy MoM for September…est. +0.5% 8:30 AM ET Producer Price Index (PPI) Headline YoY for September…est. +8.7% 8:30 AM ET PPI Core: Ex Food & Energy YoY for September…est. 7.1% 10:30 AM ET Weekly EIA Natural Gas Inventory Data 11:00 AM ET EIA Weekly Inventory Data Earnings Calendar: Earnings Before the Open: BAC, C, CMC, DPZ, MS, PGR, UNH, USB, WBA, WFC Earnings After the Close: AA, DCT, TACO Other Key Events: Piper Insurance Summit in New York, 10/14 Macro Up/Down Last Nymex 0.87 81.31 Brent 0.97 84.15 Gold 4.90 1,801.60 EUR/USD 0.0014 1.1606 JPY/USD 0.17 113.41 10-Year Note -0.017 1.532% World News China sept. consumer prices rise7% y/y vs. est. 0.8%; China sept. producer prices rise 10.7% y/y vs. est. 10.5% Oil demand is set to jump by half a million barrels per day (bpd) as the power sector and heavy industries switch from other more expensive sources of energy, the IEA said, warning that the energy crunch could stoke inflation and slow the world’s economic recovery from the COVID-19 pandemic. In its monthly report, the IEA increased its global oil demand growth forecast by 170,000 bpd to 5.5 million bpd for 2021 and by 210,000 bpd to 3.3 million bpd for 2022. The agency now expects total oil demand in 2022 to reach 99.6 million bpd Sector News Breakdown Consumer Bed Bath & Beyond ($BBBY) downgraded to Underweight from Equal Weight at Morgan Stanley Wayfair ($W) downgraded to Underweight from Equal Weight at Morgan Stanley Esports Entertainment Group ($GMBL) rises after forecasting higher revenue in FY22 saying it expects net revenue to increase by at least 490% to $100 mln to $105 mln in FY22 driven primarily by the multiple acquisitions completed in calendar 2021 Good Times Restaurants ($GTIM) said Q4 YoY same store sales ended sept. 28, 2021 decreased 0.2% for its good times brand & increased 22.8% for its Bad Daddy’s brand Hyzon Motors ($HYZM) said in 2022, expects to increase capacity to up to 1,000 trucks/year through operational updates, addition of second shift in Europe facility Winnebago ($WGO) announces new $200M share repurchase authorization Energy, Industrials and Materials Occidental ($OXY) agreed to sell its interests in two Ghana offshore fields for $750 million to Kosmos Energy (KOS) paying $550M and Ghana National Petroleum Corporation paying $200M, prior to closing adjustments to reflect an April 1, 2021 effective date The American Petroleum Institute (API) WD-40 ($WDFC) approves new $75M share repurchase plan Matrix Nac ($MTRX) awarded multiple contracts for electrical infrastructure work that, in aggregate, totals about $50 mln The American Petroleum Institute (API) showed a build of 5.21M barrels of oil for the week ending October 8, a draw of 4.58M barrels, distillate inventories show a draw of 2.71M barrels and Cushing inventories show a draw of 2.28M barrels. Steel Dynamics ($STLD) CEO said steel prices, driven to nosebleed highs by surging demand, should start to “erode” by the first part of next year as COVID-related supply bottlenecks ease and new domestic production comes online. UPS ($UPS) upgraded to Buy from Hold at Stifel The Biden administration unveiled plans to hold as many as seven government auctions of offshore wind development rights in the next four years (watch shares of AGR, RDSA) Financials S.-listed Chinese online brokerages Futu Holding ($FUTU) and UP Fintech Holding ($TIGR) face regulatory risks as China’s personal data privacy law takes effect Nov. 1, the official People’s Daily said in an analysis on its website. Such brokerages could violate data privacy rules and also runs compliance risks, the article said. S. Bancorp ($USB) Q3 EPS $1.30 vs. est. $1.16; Q3 revs $5.89B vs. est. $5.77B; return on average assets 1.45% vs. 1.17% y/y; return on average equity 15.9% vs. 12.8% y/y; net charge-offs $147 million, -71% Yoy Healthcare UnitedHealth ($UNH) Q3 adj EPS $4.52 vs. est. $4.41; Q3 revs $72.34B vs. est. $71.19B; Q3 beat helped by a jump in revenue from its Optum unit that manages drug benefits, rising 14%; raises FY21 adjusted EPS view to $18.65-$18.90 from $18.30-$18.80 (est. $18.75) Perrigo ($PRGO) upgraded to Outperform from Market Perform at Raymond James with a $59 price target saying the recently announced acquisition of leading branded consumer play HRA Pharma is expected to immediately boost the company’s profitability back to 2019 levels while delivering on its goal of becoming a pure-play consumer health company by 2023 Sarepta ($SRPT)17M share secondary priced at $81 per share Lucid Diagnostics ($LUCD) 5M share IPO priced at $14 per share Agilent Technologies Inc. ($A) said its Ki-67 IHC MIB-1 pharmDx (Dako Omnis) is now FDA approved as an aid in identifying patients with early breast cancer (EBC) at high risk of disease recurrence Turning Point Therapeutics ($TPTX) and EQRx announced a clinical collaboration to evaluate elzovantinib or TPX-0022, Turning Point’s drug candidate targeting MET, SRC, and CSF1R, in combination with aumolertinib, EQRx’s drug candidate targeting EGFR for NSCLC Technology, Media & Telecom Taiwan Semiconductor Manufacturing Co. ($TSM) lifted its revenue growth forecast for 2021, citing an “industry megatrend” of strong chip demand after Q3 rev climbed 22.6% to $14.88B, in line with co’s prior estimated range of $14.6B-$14.9B and vs. est. $14.83B; Q3 profit rose 14% from a year earlier to 156.26 billion New Taiwan dollars (US$5.57 billion) AT&T ($T) upgraded to Sector Weight from Underweight at KeyBanc saying that it appears more difficult to justify further downside from current levels given simplification of the business, reduced leverage, and peers that trade at premiums GitLab ($GTLB)4M share IPO priced at $77.00 Rambus ($RMBS) announced that Rahul Mathur, senior vice president and CFO, will resign from Rambus effective November 15 to pursue another opportunity outside of the semiconductor industry; co affirmed its previously issued guidance for the third quarter fiscal year 2021. E2open ($ETWO) raises FY22 revenue view to $470M-$474M from $369M-$371M (est. $417.13M); adjusted EBITDA is expected to be in the range of $161M-$163M vs. prior guidance of $158M provided at the announcement of the BluJay transaction.
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Earnings Out This Afternoon/Tomorrow Morning: Tomorrow Morning: BAC C CMC DPZ MS PGR TSM USB UNH WBA WFC
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take my hammy CMC!
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yeah..like wtf conditioning coach! > @HeyShoe said: CMC pulled a hammy?
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Next Dividend Date
Commercial Metals Company and its subsidiaries manufacture, recycle and fabricate steel and metal products, related materials and services through a network including seven electric arc furnace ("EAF") mini mills, two EAF micro mills, a rerolling mill, steel fabrication and processing plants, construction-related product warehouses, and metal recycling facilities in the U.S. and Poland.
CEO: Barbara Smith
HQ: 6565 N Macarthur Blvd Ste 800 Irving, 75039-6283 Texas