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By Kanupriya Kapoor SINGAPORE (Reuters) - Asian stocks were mixed on Friday as fresh concerns about Chinese growth trumped any fillip regional markets received from brisk Wall Street earnings and some tempering of more aggressive expectations about U.S. interest rate hikes. MSCI's broadest index of Asia-Pacific shares outside Japan was down 0.31%, swinging into the red. Japan's Nikkei share average fell 0.26%, also erasing earlier gains. Pulling broader sentiment down were Chinese markets, with Hong Kong's Hang Seng index and the Shanghai composite index falling as much as 2.3% and 0.72% respectively. The Seoul index and Australia's index were up 0.40% and 0.88%, respectively. Futures markets pointed to a brisk European session with EUROSTOXX 50 futures up 0.38% and FTSE futures climbing 0.25%. The yen firmed against the dollar at 133.44, heading for its best month in two years as a fall in U.S. Treasury yields hit the greenback. Analysts say the overnight Wall Street rally could point to a disconnect between the dire reality consumers face and markets trying to leap forward and price in a Federal Reserve rate cut. "Enjoy the rally while it's there, but look carefully at the Fed messaging which depends on the course of inflation, look at the gas crisis in Europe where markets might panic, look at China still stuck in the mud because of their COVID policy," said Stephen Innes of SPI Asset Management. "We could go into deeper downswing because CPI data is slipping globally." Overnight, the Dow Jones Industrial Average rose 1.03%, the S&P 500 gained 1.21% and the Nasdaq Composite added 1.08%. Economists are debating whether the world's biggest economy is already in or on the verge of a recession, as it battles its highest inflation in four decades and gross domestic product shrinks - at a 0.9% annualized rate last quarter, after a 1.6% contraction in the quarter before that. The Federal Reserve delivered another aggressive interest rate hike of 75 basis points this week, its third this year. In Asia, investors focused on headlines that showed Beijing omitting reference to its full-year GDP growth target after a high-level Communist Party meeting, instead focusing on achieving the best possible results for the economy this year. Equities, however, rallied this week as comments by Fed Chair Jerome Powell led to speculation that rate hikes would begin to slow and eventually turn to rate cuts in 2023. Shares of Amazon (NASDAQ:AMZN) and Apple (NASDAQ:AAPL) shot up 12% and 3%, respectively, after hours as the tech giants reported better-than-expected earnings. The yield on benchmark 10-year Treasury notes was at 2.6704% while the two-year note's yield, which typically moves in step with interest-rate expectations, was at 2.8399%. "There's this see-saw at the moment with inflation and growth concerns," said Tom Nash, fixed income portfolio manager at UBS Asset Management in Sydney, with surprisingly soft U.S. growth figures putting the focus on the latter. "When it's inflation concerns, yields are going up, when it's growth concerns yields are going down. What we're seeing at the moment is the market is putting less emphasis on inflation and more on growth." Brent crude futures turned negative, dropping 0.14% to $106.99 a barrel after hitting $108 in previous trade, and U.S. West Texas Intermediate crude (WTI) was at $96.64. Gold rose 0.38% to $1,762 an ounce, pressured by a strong dollar and Treasury yields. To read Reuters Markets and Finance news, click on the state of play of Asian stock markets please click on:
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By Julia Payne LONDON (Reuters) -Oil prices fell on Friday on a weakening global demand outlook and the resumption of some Libyan crude oil output. Brent crude futures fell 55 cents to $103.32 a barrel by 1251 GMT, while U.S. West Texas Intermediate (WTI) crude futures were down $1.05 to $95.30 a barrel. The global economy looks increasingly likely to be heading into a serious slowdown, just as central banks aggressively reverse ultra-loose monetary policy adopted during the pandemic to support growth, data showed on Friday. "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. Supply fears were easing slightly though after Libya resumed production at several oil fields earlier this week. "Libyan production is recovering, but with clashes in the capital no one knows how long the production recovery will hold," Giovanni Staunovo, an analyst at UBS, said, referring to clashes between rival factions in Libya amid growing concern that a political standoff could prompt renewed conflict. Staunovo also said the market will look to preliminary OPEC production estimates for guidance next week. 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 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 Florence Tan (Reuters) -Oil prices slumped more than $1 a barrel on Wednesday, pressured by global central bank efforts to tame inflation and ahead of expected builds in U.S. crude inventories as product demand weakens. Brent crude prices for September fell $1.50, or 1.4%, to $105.85 a barrel by 0645 GMT, while U.S. West Texas Intermediate (WTI) crude for August slipped $1.40, or 1.3%, to $102.82 per barrel. The WTI contract will expire later on Wednesday. The more active September WTI contract was at $99.09 a barrel, down $1.65. Oil prices whipsawed in the previous session, caught in a tug-of-war between supply fears due to Western sanctions on Russia and pressures on indications from central bankers that they will raise interest rates to combat inflation. Both contracts settled about 1% higher on Tuesday on tight supplies globally which have also kept the prompt Brent intermonth spreads in wide backwardation at about $4.40 a barrel. Front-month prices are higher than those in future months in a backwardated market, indicating tight supplies. On Friday, open interest in New York Mercantile Exchange futures fell to their lowest since September 2015 as investors cut risky assets like commodities, worried that the Federal Reserve will keep raising U.S. interest rates. "People have been switching out of Delta 1 products – just being long the futures or long via the index – into options because of the sharp pullback," Stephen Innes, managing partner at SPI Asset Management, said in a note. "They have changed from being completely exposed to the downside to exploring it via options, tending towards buying calls, call spreads, and selling puts." In the United States, crude stocks rose by about 1.9 million barrels for the week ended July 15, according to market sources citing American Petroleum Institute figures on Tuesday. That was close to the forecast for a rise of 1.4 million barrels in a Reuters poll. Official weekly crude and fuel inventory data from the U.S. Energy Information Administration (EIA) is expected on Wednesday at 1530 GMT and traders are watching out for implied demand. [EIA/S] The U.S. 3:2:1 and gasoline crack spreads - measures of refining profit margins - both fell to their lowest since April on Tuesday, indicating weaker fuel demand.
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By Jeslyn Lerh SINGAPORE (Reuters) -Oil prices rose on Friday amid prospects of a less aggressive U.S. rate hike, although worries about a recovery in demand capped gains. Brent crude futures for September delivery rose 94 cents, or 1.0%, to $100.04 a barrel by 0630 GMT, while WTI crude rose 63 cents, or 0.7%, to $96.41 a barrel. "Oil is trading very much to the beat of Federal Reserve policy and the implications it could have on both demand destruction and the U.S. dollar," said Stephen Innes, managing partner at SPI Asset Management. "With the market falling back to base-case 75 (basis point) hike next week versus 100 (basis point) yesterday, oil prices and the broader market have a little more breathing room today," Innes said. The Fed's most hawkish policymakers said on Thursday they favoured another 75-basis-point interest rate increase at the U.S. central bank's policy meeting this month, not the bigger rate raise that traders had raced to price in after a report on Wednesday showed inflation was accelerating. The rate hike uncertainty and weak economic data pushed both oil contracts to lows on Thursday that were below the close on Feb. 23, the day before Russia invaded Ukraine in what Moscow calls "a special military operation". Still, both Brent and WTI had clawed back nearly all losses by the end of the trading session. However, concerns about the outlook for demand continue to keep a lid on oil prices. "Sentiment hasn't been helped by renewed COVID-19 outbreaks in China, which threaten to halt the recovery in demand. High prices also appear to have blunted demand for gasoline in the U.S.," ANZ Research analysts said. China's refinery throughput in June shrank nearly 10% from a year earlier, with output for the first half of the year down 6% in the first annual decline for the period since at least 2011, data showed on Friday. Meanwhile, U.S. President Joe Biden will on Friday fly to Saudi Arabia, where he will attend a summit of Gulf allies and call for them to pump more oil. However, spare capacity at members of the Organization of the Petroleum Exporting Countries is running low, with most producers pumping at maximum capacity, and it is unclear how much extra Saudi Arabia can bring into the market quickly.
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By Bozorgmehr Sharafedin LONDON (Reuters) -Brent oil slipped on Tuesday as concerns of a possible global recession curtailing demand outweighed supply disruption fears, highlighted by an expected production cut in Norway. Brent crude was $1.33, or 1.2%, lower at $112.17 a barrel by 1231 GMT, while U.S. West Texas Intermediate (WTI) crude rose 30 cents, or 0.3%, to $108.73 a barrel from Friday's close. There was no settlement for WTI on Monday because of the U.S. Independence Day public holiday. Investors are becoming more concerned as the latest surge in gas and fuel prices adds to worries about recession. "Oil is still struggling to break out from its current recessionary malaise as the market pivots away from inflation to economic despair," Stephen Innes of SPI Asset Management wrote. In the euro zone, data showed business growth across the bloc slowed further last month, with forward-looking indicators suggesting the region could slip into decline this quarter as the cost of living crisis keeps consumers wary. And in South Korea, inflation hit a near 24-year high in June, adding to concerns of slowing economic growth and oil demand. Yet supply concerns still linger and earlier in the session WTI rose more than $3 and Brent more than $1 on potential output disruption in Norway, where offshore workers began a strike that will hit output. The strike is expected to reduce oil and gas output by 89,000 barrels of oil equivalent per day (boepd), of which gas output makes up 27,500 boepd, Norwegian producer Equinor has said. "Oil prices are ... benefiting from the strike in Norway, so far impacting only modest volumes, and the sharp increase in Saudi official selling prices for August, suggesting that Saudi exports might not increase that much next month," UBS analyst Giovanni Staunovo said. Saudi Arabia, the world's top oil exporter, raised August crude oil prices for Asian buyers to near record levels amid tight supply and robust demand. Meanwhile, Russia's former president Dmitry Medvedev said on Tuesday a reported proposal from Japan to cap the price of Russian oil at around half its current level would lead to significantly less oil on the market and could push prices above $300-$400 a barrel. G7 leaders agreed last week to explore the feasibility of introducing temporary import price caps on Russian fossil fuels, including oil, in an attempt to limit resources to finance Moscow's "special military operation" in Ukraine
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By Jeslyn Lerh SINGAPORE (Reuters) -Oil prices edged higher amid a volatile trading session on Friday, as supply uncertainty outweighed fears of slower demand from cooling U.S. economic activity. Brent crude futures climbed 31 cents, or 0.3%, at $110.36 a barrel by 0630 GMT, while U.S. West Texas Intermediate (WTI) crude futures were up 59 cents, or 0.6%, at $104.86 a barrel. "Looking at the respective futures curves, both Brent and WTI are still heavily in backwardation, suggesting that prompt oil supplies remain as tight as ever," said Jeffrey Halley, a senior Asia Pacific market analyst at OANDA. "Increasing recession fears appear to be prompting a culling of heavy speculative long positioning in both contracts, even as in the real world, energy tightness is as real as ever," Halley added. Oil prices briefly climbed by nearly $1 per barrel in early Asian trade before paring gains and eventually remaining flat during intra-day Asia hours on Friday. For now, fears of slower demand arising from interest rate increases and slower U.S. economic activity capped the price gains. Crude futures were into sell mode after U.S. manufacturing and services PMIs came in well below expectations, along with a downswing in Germany's manufacturing data, said Stephen Innes, managing partner at SPI Asset Management. "Under these conditions, higher crude oil prices will become super sensitive to any perceived or otherwise increased supply inputs," Innes said, noting signs of Russian crude hitting the oil complex and mounting pressure on OPEC to boost output. OPEC and allied producing countries, including Russia, will most likely stick to a plan for accelerated output increases in August in hopes of easing crude prices and inflation as U.S. President Joe Biden plans to visit Saudi Arabia, sources said. The group known as OPEC+ agreed at its last meeting on June 2 to boost output by 648,000 barrels a day in July, or 7% of global demand, and by the same amount in August, up from the initial plan to add 432,000 barrels per day a month over three months until September. However, the group has struggled to hit the monthly increase targets due to underinvestment in oilfields by some OPEC members and, more recently, losses in Russian output.
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By Noah Browning LONDON (Reuters) -Oil prices dipped on Thursday but still hovered near three-month highs after parts of Shanghai imposed new COVID-19 lockdown measures although China's stronger-than-expected exports in May offered a boost to the demand outlook. Brent crude futures for August had dipped 57 cents or 0.5% to $123.01 a barrel by 1327 GMT, while U.S. West Texas Intermediate crude for July was at $121.26 a barrel, down 85 cents or 0.7%. China's May exports jumped 16.9% from a year earlier as easing COVID curbs allowed some factories to restart, the fastest growth since January this year and more than double analysts' expectations. But while the Chinese trade figures were upbeat, oil prices eventually reversed their earlier modest gains. "Of far greater importance is news that a district of Shanghai has been locked down today, reviving fears of another leg of China weakness due to its covid-zero policies. That is capping any gains in Asia today," said Jeffrey Halley, OANDA's senior market analyst for Asia Pacific. "That said, it is indicative of how tight supplies are that oil has not retreated on that news today." Parts of Shanghai began imposing new lockdown restrictions on Thursday, with residents of Minhang district ordered to stay home for two days to control transmission risks. "The export performance is impressive in the context of the country's multi-city lockdowns in the month," Stephen Innes, managing partner at SPI Asset Management, said in a note. Meanwhile, peak summer gasoline demand in the United States continued to provide a floor to prices. U.S. gasoline stocks unexpectedly dropped, data from the Energy Information Administration (EIA) showed on Wednesday, indicating resilience in demand for the motor fuel during the peak summer period despite sky-high pump prices. "It's hard to see significant downside in the coming months, with the gasoline market likely to only tighten further as we move deeper into driving season," said ING's head of commodities research Warren Patterson.
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By Kanupriya Kapoor SINGAPORE (Reuters) - Asian shares were mostly higher on Friday as investors hoped U.S. jobs data due later might sway the Federal Reserve to slow its current aggressive pace of interest rate hikes over the coming months. MSCI's broadest index of Asia-Pacific shares outside Japan was up 0.56%, riding a strong Wall Street close overnight. Japan's Nikkei was up 1.2%, and shares in Seoul were up 0.46%, while Australia's resource-heavy index was up 0.79%. European STOXX 50 futures rose 0.76%. Markets in China, Hong Kong and the UK are closed for public holidays. Overnight, tech stocks led a rally on Wall Street, lifting the S&P500 1.84%, the Nasdaq Composite 2.68%, and the Dow Jones Industrial Average 1.29%. On Thursday, the ADP National Employment Report showed U.S. payrolls rising at a slower-than-expected pace last month. Investors are now looking to the U.S. Labor Department’s comprehensive jobs report, due later on Friday, for confirmation of a slowdown in the employment market, which could convince the Fed to go slow on interest rate hikes for the rest of the year. "For equities right now, anything that might be viewed as capping the Fed’s tightening could be viewed as supportive," said ING's Asia head of research Rob Carnell. "So, therefore, weak macro data becomes positive for stocks." Economists expect about 325,000 jobs were added last month in the United States and reckon unemployment ticked lower to 3.5%. "Any deviation from these figures that shows the labour market hanging together better than this might well be negative for equities and vice versa," Carnell said. Inflation is the biggest worry for the Fed and global policymakers. Fed officials have said that U.S. interest rates would likely continue to be raised aggressively unless inflation moderates. "Front-end rate hike pressure that had built the day prior on robust economic data immediately eased off after a weaker than expected May ADP employment print, suggesting things are cooling off," said Stephen Innes of SPI Asset Management. Markets have locked in consecutive 50-basis-point Fed hikes in June and July but the dollar has been pushed around this week by uncertainty about what happens after that. The U.S. dollar currency index, which tracks the greenback against six major currencies, was at 101.770, pausing a rally earlier in the week. The yen has been kept under pressure by super-low interest rates in Japan, and was last steady at 129.80 per dollar, having lost 2% on the greenback this week. U.S. Treasury yields were mixed ahead of the non-farm payrolls data. The benchmark 10-year yield was at 2.9204% while the 2-year yield, which tends to be sensitive to U.S. rate expectations, was down at 2.6484%. Oil prices were unchanged after U.S. crude inventories fell amid high demand, even as oil-producing countries OPEC+ agreed to boost production. Brent futures were at $117.17 per barrel, while U.S. West Texas Intermediate crude stood at $116.34. To read Reuters Markets and Finance news, click on https://www.reuters.com/finance/marketsFor the state of play of Asian stock markets please click on:
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By Kanupriya Kapoor (Reuters) - Asia stocks rose on Wednesday even as central banks piled into aggressive rate hikes to battle soaring inflation and left investors worried about slower global growth. MSCI's broadest index of Asia-Pacific shares outside Japan rose 0.72%, with Australian shares up 0.72%, Seoul adding 0.84% and Taiwan advancing 1.07%. Hong Kong's Hang Seng and China's main indexes also traded higher, while Japan's Nikkei share average slipped 0.04%. European markets also looked set for a firmer open, with pan-European futures up 0.93% and FTSE 100 futures rising 0.88%. The U.S. dollar index =USD - which measures the currency against six major rivals - rebounded 0.16% to 101.92, a level not seen since April 26. Meanwhile the kiwi hit a three-week high of $0.65 after the New Zealand central bank raised rates by an aggressive 50 basis points and signalled more to come. Overnight, Wall Street reeled from weak housing and manufacturing data, while U.S. central bankers backed two more big interest rate hikes as early as June and July to fight 40-year-high inflation. The Nasdaq Composite dropped 2.35% and the S&P 500 lost 0.81%.[.N] New home sales in the U.S. fell 16.6% month-on-month in April, the largest decline in nine years, sending U.S. Treasuries yields down to one-month lows as investors turned once again to safety. The benchmark 10-year note was at 2.766% and the 2-year yield was at 2.522%. But Atlanta Fed President Raphael Bostic warned headlong rate hikes could create "significant economic dislocation" and was among a handful of Fed policymakers who favour reducing the pace of rate hikes later in the year if inflation cools. Investors in Asia remain similarly nervous about growth being impacted by the effects of persistent Chinese COVID-19 lockdowns, which threaten to undermine recent stimulus measures in the world's second-largest economy. "In Asia, investor debate centers on whether or not China's easing policies are sufficient to offset downward pressures,” Stephen Innes of SPI Asset Management said in a note. "Fiscal multipliers will be minimal in an economy where economic activity have slowed sharply. Moving beyond mobility restrictions in short order is a pre-condition, but not a guarantee, for an Asia-led economic recovery." Gold prices dipped 0.19% to $1,862.27 per ounce, having risen to their highest in two weeks on Tuesday, as the greenback gained. Oil prices climbed more than 1% on the prospect of tight supplies. U.S. crude futures rose to $111.05 a barrel, and Brent rose to $114.86.
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By Noah Browning LONDON (Reuters) -Oil prices gained on Monday with U.S. fuel demand, tight supply and a slightly weaker U.S. dollar supporting the market, as Shanghai prepares to reopen after a two-month lockdown that fuelled worries about a sharp slowdown in growth. Brent crude futures rose $1.06 or 0.9% to $113.61 a barrel by 1240 GMT, while U.S. West Texas Intermediate (WTI) crude futures climbed 97 cents, or 0.9%, to $111.25 a barrel, adding to last week's small gains for both contracts. "Oil prices are supported as gasoline markets remain tight amid solid demand heading into the peak U.S. driving season," said SPI Asset Management Managing Partner Stephen Innes. "Refineries are typically in ramp-up mode to feed U.S. drivers' unquenching thirst at the pump." The U.S. peak driving season traditionally begins on Memorial Day weekend at the end of May and ends on Labor Day in September. Analysts said despite fears about soaring fuel prices potentially denting demand, mobility data from TomTom and Google (NASDAQ:GOOGL) had climbed in recent weeks, showing more people were on the roads in places like the United States. A weaker U.S. dollar also sent oil higher on Monday, as that makes crude cheaper for buyers holding other currencies. Market gains have been capped, however, by concerns about China's efforts to crush COVID-19 with lockdowns, even with Shanghai due to reopen on June 1. Lockdowns in China, the world's top oil importer, have hammered industrial output and construction, prompting moves to prop up the economy, including a bigger-than-expected mortgage rate cut last Friday. "The persistent squeeze in refined petroleum products in the U.S. and ever-present Ukraine/Russia risk underpinned prices, with China slowdown and U.S. recession noise limiting gains," said Jeffrey Halley, a senior market analyst at OANDA. The European Union's inability to reach a final agreement on banning Russian oil following its invasion of Ukraine, which Moscow calls a "special operation", has also stopped oil prices from climbing much higher.
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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 Noah Browning LONDON (Reuters) -Oil prices rose on Friday but were headed for their first weekly loss in three weeks as worries about inflation and China's COVID lockdowns slowing global growth offset concerns about dwindling supplies from Russia. Brent crude futures were up $2.32, or 2.2%, at $109.77 a barrel at 1345 GMT, while U.S. West Texas Intermediate (WTI) crude futures climbed $2.52, or 2.4%, to $108.65 a barrel. Both benchmark contracts were, however, on track to post slight declines for the week. The market is continuing to be pushed and pulled by the prospect of a European Union ban on Russian oil tightening supply and concerns about faltering global demand. SPI Asset Management managing partner Stephen Innes said in a note that oil traders were looking "for a glimmer of light at the end of China's gloomy lockdown tunnel". "Still, we continuously end up at square one with lower case counts weighted against the authorities doubling down on their zero COVID policy," he added. Inflation and rate rises have driven the U.S. dollar to 20-year highs, capping oil price gains as a stronger dollar makes oil more expensive when purchased in other currencies. Analysts, however, continue to focus on the prospect of a European Union ban on Russian oil, after Moscow imposed sanctions this week on European units of state-owned Gazprom (MCX:GAZP) and after Ukraine halted a key gas transit route. "Oil prices are rebounding today as the world is in wait-and-see mode over a broad economic downturn and the potential implications of a recession on oil demand," said Rystad Energy analyst Louise Dickson. "Extended Covid-19 lockdowns in China, rising cases elsewhere, and fiscal policy decisions to combat soaring inflation are giving the markets reason to be skittish as oil continues its run of over $100/barrel averages." An International Energy Agency report on Thursday said rising oil production in the Middle East and the United States and a slowdown in demand growth were "expected to fend off an acute supply deficit amid a worsening Russian supply disruption".
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By Florence Tan (Reuters) - Oil prices bounced on Wednesday ahead of an announcement by the U.S. Federal Reserve and further sanctions on Russia by the European Union, offsetting demand worries in top importer China. Brent crude futures had risen $1.46, or 1.4%, to $106.43 a barrel by 0616 GMT amid thin trading volume, with China and Japan closed for holidays. West Texas Intermediate crude futures rose $1.59 , or 1.6%, to $104.00 a barrel. The gains came on the back of news from Tuesday that the European Union would slap new sanctions on Russia for waging war on Ukraine. [nL3N2WW0CK] European Commission President Ursula von der Leyen is expected to spell out the proposed new sanctions on Wednesday, including a ban on imports of Russian oil by the end of 2022, officials said. Investors are also waiting for an announcement from the Fed on Wednesday. It is expected to intensify efforts to bring down high inflation by raising interest rates and reducing its balance sheet. Oil "prices remain in a holding pattern ahead of EU sanctions and the Fed", Stephen Innes of SPI Asset Management said in a note. In the United States, crude and fuel stocks fell last week, according to market sources citing American Petroleum Institute figures. Crude stocks fell by 3.5 million barrels for the week ended April 29, they said. This was more than an expected 800,000-barrel drop estimated in a Reuters poll. [API/S] U.S. government data on stocks is due on Wednesday. [EIA/S] Oil prices fell more than 2% on Tuesday on demand worries stemming from China's prolonged COVID-19 lockdowns that have curtailed travel plans during the Labour Day holiday season. [nL5N2WW04M] The global manufacturing purchasing managers index contracted in April for the first time since June 2020, with China's lockdowns a key contributor, Caroline Bain, chief commodities economist at Capital Economics said in a note. "The big picture is clearly negative for commodities demand," she said, adding that rising inflation and higher interest rates were starting to bear down on spending. "While supply constraints may keep commodity prices elevated for some time yet, we think subdued demand will weigh on most prices later this year and in 2023," Bain said. On Thursday, the Organization of the Petroleum Exporting Countries and their allies are expected to stick to their policy for another monthly production increase, although the group, known as OPEC+, undershot output targets between October and March, except for February.
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By Sonali Paul MELBOURNE (Reuters) - Oil prices fell on Monday in holiday-sapped trade in Asia as concerns about weak economic growth in China, the world's top oil importer, outweighed fears of potential supply stress from a looming European Union ban on Russian crude. Brent crude futures fell $1.13, or 1.1%, to $106.01 a barrel at 0511 GMT, while U.S. West Texas Intermediate (WTI) crude futures fell $1, or 1%, to $103.69 a barrel. Markets in Japan, India and across Southeast Asia were closed for public holidays on Monday. Prices fell after China released data on Saturday showing that factory activity in the world's second-largest economy contracted for a second month to its lowest since February 2020 because of COVID lockdowns. "A slowing to that extent, when China is already suffering from a property bust and worries about its (until recently) increased regulation, is potentially a major issue for commodity markets and the world economy," said Tobin Gorey, a Commonwealth Bank commodities analyst, in a note. On the supply side, Libya's National Oil Corp (NOC) said on Sunday it would temporarily resume operations at the Zueitina oil terminal to reduce stockpiles in storage tanks to avert an "imminent environmental disaster" at the port. NOC in late April declared force majeure on some shipments at Zueitina as political protesters forced a number of oil facilities to suspend operations. Limiting the down side for oil prices is a possible dent in supply with the European Union leaning towards banning imports of Russian oil by the end of the year, two EU diplomats said after talks between the European Commission and EU member states on the weekend. Around half of Russia's 4.7 million barrels per day (bpd) of crude exports go to the EU, supplying about one-fourth of the EU's oil imports in 2020. "In the absence of an immediate EU total oil embargo, eliminating mobility restrictions in China is necessary to drive oil out of its current range," said SPI Asset Management Managing Partner Stephen Innes. While Western countries have curbed buying Russian oil as sanctions have hit shipping and insurance for the country's exports, the impact on global supply has been cushioned as India has been picking up heavily discounted Russian cargoes. Royal Bank of Canada analysts estimated India's crude imports from Russia have grown from less than 100,000 bpd in 2021 to 800,000 bpd in April and expect India to continue ramping up imports as long as Washington does not impose secondary sanctions. Reuters reported on Friday that Indian refiners are negotiating a six-month oil deal with Russia to import millions of barrels per month.
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By Florence Tan (Reuters) -Oil prices extended gains on Wednesday amid simmering geopolitical tensions as Russia cut gas supplies to Bulgaria and Poland, while hopes of Chinese economic stimulus buoyed the demand outlook. Brent crude futures rose 67 cents, or 0.6%, to $105.66 a barrel by 0636 GMT. U.S. West Texas Intermediate crude futures gained 44 cents, or 0.4%, to $102.14 a barrel. Crude prices settled about 3% higher on Tuesday in volatile trade as the market is torn between supply and demand concerns over Russian oil and gas disruption and a worsening global economic outlook. "The market is increasingly volatile and event driven," said Howie Lee, an economist at Singapore's OCBC bank. "Energy security across the world is getting more vulnerable and vulnerable security normally comes with a higher price tag." Russian energy giant Gazprom (MCX:GAZP) said on Wednesday it has completely halted gas supplies to Bulgaria and Poland due to absence of payments from the countries in roubles for the fuel delivery, in a major escalation of Russia's broader row with the West over its invasion of Ukraine, which Moscow calls a "military operation". The row sent NYMEX ultra-low-sulfur diesel futures up more than 9% on Tuesday to settle at $4.47 a gallon, a record close. "Oil is supported via the escalation of geopolitical tensions," Stephen Innes of SPI Asset Management said in a note. "Cutting gas flows is not new news, but it's the timing of Russia plugging the gas flows when stagflationary fears are running rampant again." The International Monetary Fund (IMF) warned on Tuesday that Asia faces a "stagflationary" outlook with the Ukraine war, a spike in commodity costs and a slowdown in China creating significant uncertainty. China's central bank said on Tuesday it will step up prudent monetary policy support to its economy as Beijing races to stamp out a nascent COVID-19 outbreak in the capital and avert the same debilitating city-wide lockdown that has shrouded Shanghai for a month. Any stimulus would boost oil demand. Despite extended lockdowns in Asia's biggest aviation market, China's domestic flight demand has rebounded, pushing global airline capacity to its highest level in 2022 this week, travel data firm OAG said on Tuesday. In supply, U.S. government data on crude inventories is due later on Wednesday. Industry data on Tuesday showed U.S. crude and distillate stocks rose last week while gasoline inventories fell. [API/S] [EIA/S]
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RCAT - Potential hot chick. I rather let it push and exhaust first before I make a plan. A massive push toward 3.00 and rejection would have me interested, but until then. I have it on side radar SPI - FORMER RUNNER. This can be weak all morning then zombie back to highs. Be VERY CAREFUL here short side. Again, will WAIT ON THIS short side MULN - This has been holding very very strong and SSR is still on. This might continue to trap shorts as its been very crowded. Will probably ignore the short for now AMC - In a perfect world we get a big push toward 24 / 25 to short, if it just continues to tank LET IT TANK no need to chase lows. Its been red few days in a row so we might get a dead cat bounce LGVN - $14.04 is SSR trigger. I think they will trigger SSR then rebound it. So ideally a morning pop toward 15.00 / 15.50 / 16.00 with a 16.50 ultimate stop TWTR - Way out of my pay grade lol. Ignoring both long and short https://myinvestingclub.com/trading/how-to-scale-into-the-watch-list-when-to-use-max-full-size-when-trading-30-rule-watch-list/
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By Sonali Paul and Mohi Narayan MELBOURNE (Reuters) - Oil prices rose on Thursday in volatile trade following a sharp drop in the previous session as the market contemplated whether major producers would boost supply to help plug the gap in output from Russia due to sanctions for its invasion of Ukraine. Brent crude futures were up $2.53, or 2.28%, at $113.67 a barrel at 0651 GMT after trading in about a $5 range. The benchmark contract slumped 13% in the previous session in its biggest one-day drop in nearly two years. U.S. West Texas Intermediate (WTI) crude futures were up $1.64, or 1.51%, at $110.34 a barrel, after trading in a $4 range. The contract had tumbled 12.5% in the previous session in the biggest daily decline since November. Uncertainty over where and when supply will come from to replace crude from the world's second-largest exporter Russia in a tight market has led to wide-ranging forecasts for oil prices between $100 and $200 a barrel. "So to suggest the oil market is confused would be an understatement as we are in an unprecedented situation," said Stephen Innes, managing partner at SPI Asset Management. Comments from the United Arab Emirates energy minister and the country's ambassador to Washington sent conflicting signals. UAE Energy Minister Suhail al-Mazrouei said on Twitter (NYSE:TWTR) late on Wednesday his country is committed to the existing agreement by the Organization of the Petroleum Exporting Countries and allies including Russia, together called OPEC+, to ramp up oil supply by 400,000 barrels per day monthly following sharp cuts in 2020. Just hours before, prices slumped on comments from UAE's ambassador to Washington saying his country will be encouraging OPEC to consider higher output to fill the supply gap due to sanctions on Russia after it invaded Ukraine. Russia calls its incursion a "special operation" to disarm its neighbour. The comments from UAE officials came as the market also took into account moves by the United States to ease sanctions on Venezuelan oil and efforts to seal a nuclear deal with Tehran, which could lead to more oil supply coming from Iran later this year. Talks set for Thursday between Russia and Ukraine's foreign ministers in Turkey also gave the market reason for pause. While UAE and Saudi Arabia have spare capacity, some other OPEC+ producers are struggling to meet their output targets due to underinvestment in infrastructure over the past few years, which will limit their ability to lift output further. "We think it will be challenging for OPEC+ to boost production in this environment," Commonwealth Bank commodities analyst Vivek Dhar said. Meanwhile, U.S. crude oil, fuel stockpiles fell last week, adding to the worries over already tight global supplies. Crude inventories fell by 1.9 million barrels in the week to March 4 to 411.6 million barrels, compared with analysts' expectations in a Reuters poll for a 657,000-barrel drop. U.S. crude stocks in the Strategic Petroleum Reserve fell to 577.5 million barrels, the lowest since July 2002.
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anche spi comincia a essere in profit
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IU Watchlist: Main Watches: $IONQ 50% the last two days monster move - shorts got twisted. Remember front side = thin. Reactive trades = PROACTIVE covers until things settle down and sell side is confirmed ie: LCID today RIVN etc. So, if I short a parabolic and it flushes I will be covering into flushes like RBLX today until it gets HEAVY and confirms. We may still be going $35 + at this rate. Shorts feel incredibly caught. $LCID floated down AHs I am hopeful for $52 + tomorrow then fade off if not - watch $50 open and flush to $45-47 range and could get a solid rebound too. $GGPI thinking this could fill gap if LCID doesn't ramp back and hold - that said over $14.20s if it continues to defend - behave! $GOEV killer today from pre market awesome job. Higher better tomorrow and then maybe into singles. Failed Follow Through: $RIVN higher better and sub $130s $RBLX nice one today looking to join failed follow through $QS nice seller present higher better for back side Continuation: $EYPT feels like shorts twisted - dips vs $17.50s $TRT same deal - any big break outs = sell any flushes = scoop for me as long as over all trend holds. Don't chase break out you'll be buying smart $ sells. $RETO weak open for break out again - those bids soaked and refreshed. $PPSI same thing - figured $8.50-9s on scan last night I do think shorts are trapped still but if it keeps failing it keeps failing respect it. If you are chasing a break out you're asking for it. $SPI watch dips tomorrow vs. $7 I sized out of most but will re scale if it holds well. $SABS impressive move today feels like shorts twisted on low volume. $KZR nice one today opened up huge after the circuit for the exit will look to re scoop all dips vs $12
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GOEV - Looking to short a morning bounce toward 12.60 / 13.00 / 13.20 with a pre mkt HOD stop LCID - Potential FIRST RED DAY. Looking to short this at $55.50 when it goes red RIVN - Maybe a bounce toward VWAP in the morning to short (risky) SPI - Would love a 7.50 / 8.00 pop to short CEI - Ideally this extends toward 2.00 to short
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IU Watchlist: Main Watches: $LCID ideally $62-65 + parabolic -- just some thoughts based off the comments in room today. I feel like most post were very micro focused. Zoom out and look at macro levels - there is NO rush when stocks trend like this. Heck I may put a few on starters here and there to get a vibe but if you're looking for the .20-.50 trade on $10 range forget it. Reactive trade off open and then look 945-10AM + for more clarity. $RIVN I don't know if it's fueling LCID or LCID fueling it etc but we'll see ideally gap up rush on $200 and then an opp one day at a time no sense making a plan tonight. $GOEV big move AHs - nice from MaxAlgo all day went nuts AHs. Should be a nice fade opportunity soon. $GGPI trappy as hell but thick when it wants to be - most important to be covering on flushes - its hard though I've minimized this trade numerous times. So far it's held all the key levels needed. Watch w/ the rest of the sector. Failed Follow Through: $PTON higher better and looking for failed follow through. $RBLX nice opp today - great scale. Had a feeler on to focus got the trade after the candles noted nice flush to VWAP - a great example of not trying for a home run - just take the move and move on. $QS higher better and more fails would be ideal. Nice game plan today on broadcast. Continuation: $SPI huge rocket AHs on the swing trade - hit $8 - awesome 🙂 $PPSI I don't want to get overly bullish but just has that feeling that shorts may have been trapped again. Right space right now if it starts to get rollin' again over $8.50-9 I may give it a go and close my eyes. $RETO possible continuation tomorrow - chart is huge so if it stops squeezing up please realize chart is huge. I'd be looking to fade it but felt like there was a steady buyer in there all day very well can keep grinding. Had a little action AHs but nothing that turned into much. $TRT keeps holding on - tiny market cap. Watch all dips.
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IU Watchlist: Main Watches: $MARA just realized AHs that it was up $15/share - insane day. Bitcoin going wild nothing to step in front it'll keep getting absorbed as long as Bitcoin agrees. Looking for over extensions vs. BTC action to trade - looking for squeeze opportunities to fade. At this point I'd have a hard time getting long unless $3-4 fade and then a reversal set up. $LCID as we discussed on the broadcast this morning I think we are going $50-60 near term (pending TSLA) but will trade around that idea on the short side. Nice fade opps today if you were trading it you made money if you were looking for more you likely minimized if you tried to force a trade you likely lost. I was in the made money to minimized side of things. Definitely had a monster trade this AM but wanted a bit more so only covered 1/2 and then it went back to entry. Patience for set up and wait for opportunity to present. $FCEL steady break out continues watch with PLUG and rest - should have a nice extension trade soon - $11.50 + and sit back flat is ideal. $QS nice game plan on this - perfect set up goal on last Sunday video and this past was just like LCID so far carbon copy. Looking for $2-3 + more and then fade off for a trade. Failed Follow Through: $SKLZ double top looking left on daily - morning shove and if pressure comes in I'd love to fade it but again we are in a melt up market and an insider buy so just be aware if it stops going down ... may be worthy trend up. $F so far so good from the break out idea over $19.60 - tried it short twice today didn't really turn into much nothing to size will be monitoring for the day these things take a break. $OCGN nice plan today higher better for back side. Continuation: $PPSI flip a coin, nice one into close nice squeeze out I re bought a few AHs but don't trust it I'll either be up or down a buck and if I'm down a buck that's fine if I am up a buck I'll scale in if it looks to go. $PTPI snuck back today nothing I'm excited about for XXL scale until the levels I went over. At this point reminds me of BMRA may take time. $DNA setting up well - did the consolidation we talked about now setting up for possible next leg. $PALT watching in case rebound $SUNW started in today scaled in - scaled down holding core $SPI same as above
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By Roslan Khasawneh and Sonali Paul SINGAPORE (Reuters) -Oil prices were mixed on Friday after a strong rise in the previous session on a weaker dollar and a fall in U.S. crude stocks and were set for modest weekly gains ahead of a highly anticipated U.S. monthly jobs report. Brent crude futures were up 13 cents, or 0.2%, to $73.16 a barrel at 0619 GMT, while U.S. West Texas Intermediate (WTI) crude futures were down 4 cents, or 0.1%, at $69.95 a barrel. Both benchmark oil contracts jumped 2% on Thursday, putting WTI on track to climb 1.8% for the week, while Brent headed for a 0.6% weekly gain. The move down in WTI was likely due to traders squaring positions ahead of the U.S. non-farm payrolls report for August, on worries the report may be weaker than consensus forecasts, said Stephen Innes, managing partner at SPI Asset Management. However, some analysts see room for further oil price gains amid tightening crude supplies and signs of recovering fuel demand. "With an oil market still strongly in deficit for the remainder of the year, oil seems poised to rally further as OPEC+ signals discipline in easing cuts and as U.S. stockpiles continue to decline," Edward Moya, senior market analyst at OANDA, said. The increase this week has also come amid a falling U.S. dollar, which makes oil cheaper in other currencies, and the fallout from Hurricane Ida. "The prolonged U.S. Gulf production and Louisiana refining capacity outages, which are bound to carve a bigger hole in the already diminished U.S. oil stockpiles, as well as data showing continued strong domestic fuel demand recovery are supportive factors," said Vandana Hari, energy analyst at Vanda (NASDAQ:VNDA) Insights. About 1.7 million barrels per day of oil production remains shut in the U.S. Gulf of Mexico, with damage to heliports and fuel depots slowing the return of crews to offshore platforms, sources told Reuters. Offsetting the supply impact, oil demand has been curbed as extended power outages are slowing the reopening of refineries that were shut in Louisiana. Demand is likely to be in focus after the Organization of the Petroleum Exporting Countries and allies, together called OPEC+, this week stuck to their plan to add 400,00 barrels per day (bpd) back to the market over the next few months amid surging COVID-19 cases, analysts said. "The focus shifts again to the shape of the demand recovery, with some concern that it will be challenging to keep the market in deficit next year if OPEC+ continues to add supply at the anticipated 400,000 bpd pace," Innes said.
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@DarkPoolAlgo #Dark Pool Charts
Monday, August 23, 2021 Futures Up/Down % Last Dow 157.00 0.45% 35,215 S&P 500 15.25 0.34% 4,452 Nasdaq 40.50 0.27% 15,127 Stock futures are looking higher, trying to rebound after last week’s modest losses, boosted by hopes that the U.S. FDA is aiming to give full approval to Pfizer’s ($PFE) COVID-19 vaccine today (as per a NYTimes article Friday) and as investors looked to the Jackson Hole symposium later in the week for hints on future Federal Reserve policy. Oil prices rebound, rising around 3%, looking to snap its 7-day losing streak as prices fell over 9% last week. In Asian markets, The Nikkei Index jumped 480 points (1.78%) to 27,494, the Shanghai Index gains 49 points (or 1.45%) to 3,477 and the Hang Seng Index rises 259 points to 25,109. In Europe, the German DAX is higher by 40-points to 15,850, while the FTSE 100 gains 30 points to 7,120. Stocks slumped last week as the S&P 500 drops 0.59%, Dow down 1.12%, Nasdaq loses 0.73%, but YTD performance remains impressive with the S&P +18.25%, the Dow +14.74%, the Nasdaq +14.17% and the Russell 2000 +13.14% (gold -5.91%, Bitcoin +57.52% and oil +30.87%). The S&P and Dow were weighed down by steep losses among shares of economically-sensitive companies like banks, materials companies and energy producers this week as the Fed signaled that it will scale back some of its easy money policies. Other factors playing a role in volatility last week included an uptick in Covid-19 infections and a slowdown in China’s growth that could impede the economic recovery. Bitcoin prices topped $50K over the weekend, the first time since mid-May (15th) in a continuation of last week’s advance Market Closing Prices Yesterday The S&P 500 Index gained 35.87 points, or 0.81%, to 4,441.67 The Dow Jones Industrial Average rose 225.98 points, or 0.65%, to 35,120.08 The Nasdaq Composite surged 172.86 points, or 1.19%, to 14,714.66 The Russell 2000 Index advanced 35.18 points, or 1.65% to 2,167.60 Events Calendar for Today 9:45 AM ET Markit Manufacturing PMI-F…est. 62.5 9:45 AM ET Market Composite Flash-PMI…est.58.3 9:45 AM ET Markit Services PMI-Flash…est.59.5 10:00 AM ET Existing Home Sales MoM for Aug…est. 5.83M Earnings Calendar: Earnings Before the Open: $JD, $MSGE Earnings After the Close: $FLXS, $MARK, $PANW Other Key Events: American Association of Neurological Surgeons, 8/21-8/25, in Orlando, FL UBS China Telco, Media, Internet Virtual Conference 2021, 8/23-8/27 Truist Texas Bank Virtual Summit, 8/23-8/24 Macro Up/Down Last Nymex 1.90 64.04 Brent 2.06 67.24 Gold 7.40 1,788.50 EUR/USD 0.0019 1.1717 JPY/USD 0.29 110.07 10-Year Note +0.018 1.278% World News France Aug Mfg PMI: 57.3 in line; Services 65.4 vs 57.0 consensus Germany Aug Mfg PMI: 62.7 vs 65.0 consensus; Services 61.5 vs 61.0 consensus Eurozone Aug Mfg PMI: 61.5 vs 62.0 consensus; Services 59.7 vs 59.8 consensus UK Aug Mfg PMI: 60.1 vs 59.5 consensus; Services 55.5 vs 59.0 consensus Sector News Breakdown Consumer General Motors Co ($GM) to take a $1B charge to expand the recall of its Chevrolet Bolt electric vehicles due to the risk of fires from the high-voltage battery pack; this comes on top of $800M in costs from previous Bolt recalls – Reuters Uber ($UBER), Lyft ($LYFT) and DoorDash ($DASH) fall after a California state judge strikes down a ballot measure that declared drivers for the companies were independent contractors Energy, Industrials and Materials The U.S. Defense Department ordered U.S. airlines to provide 18 planes to transport evacuees, saying the extra capacity will help military aircraft focus on operations in and out of Kabul Stem ($STEM) a positive mention in Barron’s saying the company that installs batteries for utilities and sells software to manage them, is an attractive renewable energy bet. Business inquiries have picked up since the company received a $475 million cash injection through a SPAC merger in April, the CEO said. Revenue is expected to more than double in 2022 Maxar Technologies ($MAXR) won a 5-year, $60M contract from the U.S. National Geospatial-Intelligence Agency (NGA) to continue development and operations of a classified big data analytics program SPI Energy ($SPI) said its wholly owned Phoenix Motorcars subsidiary expands R&D and production capabilities; Phoenix Motorcars signed a long-term lease agreement for the facility located in Anaheim, California Ardmore Shipping ($ASC) files to sell $50M of common stock Financials Jefferies ($JEF) mentioned positively in Barron’s calling it a “rising star” on Wall Street and it will benefit from European banks’ pullback from the U.S. capital markets. CEO Rich Handler told Barron’s the investment bank is “long-term oriented” in its approach and is in no hurry to sell its merchant-banking business. PayPal ($PYPL) will allow customers in the UK to buy, sell and hold bitcoin and other cryptocurrencies starting this week – Reuters Healthcare The FDA is targeting full approval of Pfizer ($PFE)-BioNTech’s ($BNTX) two-dose Covid-19 vaccine on Monday, August 23, further expediting an earlier timeline for licensing the shot, The New York Times reported Axsome Therapeutics Inc ($AXSM) rises over 30%; said the FDA was unable to complete its review of the company’s drug to treat major depressive disorder by the target action date of Aug. 22; said the FDA did not request additional information, adding that the review of the application was ongoing. Orphazyme ($ORPH) rises more than 20% after the Danish biotech company posted results from the trial of its key drug candidate for a genetic disorder Niemann-Pick disease type C, two months after it was rejected in the U.S. Technology, Media & Telecom com ($JD) Q2 Non-GAAP EPS of $0.45 beats by $0.11; GAAP EPS of $0.08 misses by $0.13; Q2 revs $39.3B beats by $1.12B; annual active customer accounts increased by 27.4% Y/Y to 531.9 million in the twelve months ended June 30, 2021. Intel ($INTC) wins us government project to develop leading-edge foundry ecosystem; Intel Foundry Services will lead the first phase of the U.S. department of defense’s ramp-c program to establish a domestic commercial foundry infrastructure. Nokia ($NOK) announced that it has been selected by A1 Telekom Austria Group (A1) to extend its 5G footprint outside of Austria into Bulgaria, Serbia, and Slovenia. Barron’s said investors should have more confidence in Spotify ($SPOT), noting while its audience growth is losing steam, Spotify is poised to post a profit in 2022, making it a promising bet as a market- leading subscription service in a growing sector Nexstar Media Inc., a wholly-owned subsidiary of Nexstar Media Group, Inc. ($NXST), announced on Friday it acquired The Hill for $130 million (plus working capital adjustments), in a transaction that is expected to be immediately accretive to Nexstar’s operating results. The Hill is the nation’s leading, independent, political digital media platform.
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@DarkPoolAlgo #Dark Pool Charts
/*============================================= = Wednesday, June 16, 2021 = =============================================*/ Futures Up/Down % Last Dow -14.00 0.04% 34,163 S&P 500 1.25 0.04% 4,238 Nasdaq 20.50 0.14% 14,042 U.S. stock futures are looking flat as the most highly anticipated Federal Reserve policy meeting is upon us, with the FOMC meeting statement at 2:00 PM ET followed by a press conference by Chairman Jerome Powell. While the central bank is widely expected to keep key interest rates near zero, its statement and subsequent Q&A session from Powell is sure to be parsed for clues regarding the timing of taper talks, as well as any indications if rising inflation prices are a concern, or just temporary as the Fed has pleaded over the last three months. Treasury yields remain depressed despite recent higher inflation readings (CPI, PPI) as the benchmark 10-year yield holds under 1.50%. In Asian markets, The Nikkei Index fell -150 points to 29,291, the Shanghai Index fell -38 points to 3,518 (3rd straight day of losses) to 28,436, and the Hang Seng Index fell -201 points to 28,436. In Europe, the German DAX is up about 20 points to 15,750, while the FTSE 100 rises about 10 points to 7,185. Wall Street took a rest on Tuesday, as major indexes closed lower and the S&P 500 and the Nasdaq backed down from the previous session’s record closing highs. Big tech pulled back on Tuesday after leading the day prior while Dow Transports finished green. While U.S. stock indexes have been range-bound since the beginning of the month, any changes in nuance from the Fed today, and Friday’s quadruple witching options expiration, could trigger some volatility. Market Closing Prices Yesterday The S&P 500 Index slipped -8.56 points, or 0.20%, to 4,246.59 The Dow Jones Industrial Average fell -94.42 points, or 0.27%, to 34,299.33 The Nasdaq Composite slumped -101.29 points, or 0.71%, to 14,072.86 The Russell 2000 Index declined -6.07 points, or 0.26% to 2,320.07 Events Calendar for Today 7:00 AM ET MBA Mortgage Applications Data 8:30 AM EST Housing Starts MoM for May…est. 1.63M 8:30 AM EST Building Permits MoM for May…est. 1.73M 8:30 AM EST Import Prices MoM for May…est. 0.8% 10:30 AM ET Weekly DOE Inventory Data 2:00 PM EST FOMC June Meeting Earnings Calendar: Earnings Before the Open: None Earnings After the Close: $LEN Other Key Events: Citigroup European Healthcare Conference (virtual), 6/14-6/16 Cowen Annual Future Health Conference (virtual), 6/16-6/17 Deutsche Bank Global Auto Industry Conference (virtual), 6/16-6/17 European Hematology Association (EHA) Virtual Meeting, 6/9-6/17 Northland Customer Engagement SaaS Conference (virtual), 6/15-6/16 Oppenheimer 21st Annual Consumer Growth and E-Commerce Conference (virtual), 6/15-6/16 Macro Up/Down Last Nymex 0.09 72.21 Brent 0.16 74.15 Gold -0.85 1,858.20 EUR/USD -0.0004 1.2122 JPY/USD -0.14 109.94 10-Year Note -0.014 1.485% World News S. TIC data report showed foreign accounts purchased $100.7 B in net long term securities in April, after the$262.4 B (was $262.4 B) surge in March. Accounts also bought a total of $101.2 B in assets on the month versus $146.7 B (was $146.4 B) previously China May Retail Sales: y/y 12.4% vs 13.6% consensus; China May Ind Prod: y/y 8.8% vs 9.0% consensus Japan April Core Machinery Orders:6% vs 2.5% consensus; Japan May Trade Balance: -Y187b vs -Y77b consensus Sector News Breakdown Consumer DAVIDsTEA ($DTEA) Q1 EPS C$0.05 vs. (C$0.26) last year Q1; Q1 sales fell -27.9% to $23.2M from $32.2M YoY; said brick and mortar sales for the quarter declined when compared to the prior year quarter by $11.9 million or 78.3% to $3.3 million; sales from e-commerce and wholesale channels increased by $2.9 million or 17.2% to $19.9 million, from $17.0 million in the prior year quarter La-Z-Boy ($LZB) Q4 non-Gaap EPS $0.87 vs. est. $0.74; Q4 sales $519.5M vs. est. $498.5M; anticipates ongoing incremental increases in manufacturing capacity throughout fiscal 2022 that will enable higher delivered sales; incoming order rates and backlog will mitigate usual seasonal slowdown associated with Q1; Q4 written same-store sales up 100% General Motors ($GM) will increase its global spending on electric and autonomous cars to $35B, which is 30% higher than the company’s most recent forecast, Reuters reported Blue Apron ($APRN) announces stock offering Energy, Industrials and Materials The American Petroleum Institute ($API) shows a draw of 8.54M barrels of oil for the week ended June 4, gasoline inventories show a build of 2.85M barrels, distillate inventories show a build of 1.96M barrels and Cushing inventories show a draw of 1.53M barrels A U.S. District Court judge grants a preliminary injunction to Louisiana and 12 other states that sued the Biden administration over the halt on new oil and gas leasing on federal lands Bespoke noted that WTI crude has now had a record 13 straight days with an intraday high higher than the last (WTI crude closed above the $723 per barrel level Tuesday for first time since October 2018) Phoenix Motorcars, a wholly owned subsidiary of SPI Energy ($SPI) has launched a full range of EV charging products for the U.S. market. S. Steel ($X) assumed with Underweight from Neutral at JPMorgan Financials Capital One Financial ($COF) selected as exclusive long-term issuing partner for new Williams Sonoma, Inc. ($WSM) credit cards; new credit cards and loyalty enhancements are expected to launch before end of 2021 H&R Block ($HRB) Q4 adj EPS $5.16 vs. est. $5.13; Q4 revs $2.33B vs. est. $2.35B; raises quarterly dividend 4% to $0.27; announced its fiscal year-end will change to June 30, effective immediately; says substantially exceeded its original FY revs and earnings outlook when including total tax season through extended deadline PennyMac Mortgage ($PMT) files automatic mixed securities shelf R. Berkley Corporation ($WRB) raised quarterly dividend by 8% to $0.52 Healthcare The FDA cleared an additional batch of Johnson & Johnson ($JNJ) Covid-19 vaccine doses from a troubled production plant in Baltimore run by Emergent BioSolutions Inc. ($EBS) as the agency cleared 15 million doses, bringing the total doses authorized for export to 25 million Elanco ($ELAN) will acquire all outstanding stock of Kindred Biosciences (KIN) at a price of $9.25 per share, or approximately $440 million, a premium of 52% based on the 30-day average Molecular Partners ($MOLN) 3M share IPO priced at $21.25 Rapt Therapeutics ($RAPT)79M share Secondary priced at $33.00 Regeneron Pharmaceuticals Inc. ($REGN) said an antibody it developed has been shown to significantly cut the risk of death among certain hospitalized Covid-19 patients, raising hopes for a valuable new tool for tackling severe cases. Inhibikase Therapeutics ($IKT) 15M share Secondary priced at $3.00 Protagonist Therapeutics ($PGTX)05M share Spot Secondary priced at $37.75 Eton Pharmaceuticals ($ETON) has acquired U.S. and Canadian rights to Crossject’s ZENEO hydrocortisone needleless autoinjector, which is under development as a rescue treatment for adrenal crisis Spero Therapeutics ($SPRO) announces the initiation of two early-stage trials of SPR206, an intravenously (IV)-administered next-generation polymyxin product candidate. Technology, Media & Telecom Oracle Corp. ($ORCL) Q4 adj EPS $1.54 vs. est. $1.31; q1 revs $11.23B vs. est. $11.04B; qtrly cloud services and license support revenues were up 8% to $7.4B; qtrly cloud license and on-premise license revenues were up 9% to $2.1B; Q4 Cloud Application Revenue: Fusion ERP up 46%, Fusion HCM up 35%, NetSuite ERP up 26%; Q4 Short-term deferred revenues were up 10% from last year to $8.8 billion. Operating cash flow was up 21% to a record $15.9 billion during the trailing twelve months Convey Holding ($CNVY)333M share IPO priced at $14.00 Roblox ($RBLX) shares fell -8%; released May key metrics, which showed daily active users hit 43M, which was up 28% from the previous May, but down 1% from 43.3M in April; hours engaged increased, however, to 3.2B (up 9% year-over-year, and up 1% from April) MiTek ($MITK) announces $15 million share repurchase program WalkMe ($WKME)25M share IPO priced at $31.00
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Good morning traders, US stock futures little changed with the S&P still sitting at ATH level. Gold, silver and crude are all flat. Dollar and treasuries are marginally lower. Some more very big movers this morning. $AEMD report that they can remove covid virus from bloodstream. $SPI on start of production new EV drivetrain product $SLDB on new chief regulatory officer $CLNE, $WISH, $CLOV, $CLVS, $WKHS being driven by social media crowd all up double digit percentages
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Tellurian, Ocean Power, Fuel Cell Energy, Transenterix, Westwater Resources, Spi Energy
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SPI Energy Co., Ltd. (the 'Company') is a global provider of photovoltaic ('PV') solutions for business, residential, government and utility customers and investors. The Company develops solar PV projects that are either sold to third party operators or owned and operated by the Company for selling of electricity to the grid in multiple countries in Asia, North America and Europe. The Company's subsidiary in Australia primarily sells solar PV components to retail customers and solar project developers. The Company has its operating headquarter in Santa Clara, California and maintains global operations in Asia, Europe, North America and Australia.
CEO: Roger Ye
HQ: , Suite 2703, 27/F, China Resources Building, 26 Harbour Road, Wan Chai