The Biden tax increase makes no sense. Preliminary headline productivity improves. Biggest midday movers: Uber, Etsy, Moderna. Chinese oil imports dropped 11% in April.
Here is the current market situation from CNN Money
North and South American markets finished mixed as of the most recent closing prices. The Bovespa gained 1.21%, while the IPC led the S&P 500 lower. They fell 1.14% and 0.06% respectively.
What Is Moving the Markets
Here are the headlines moving the markets.
Oil Rally Stalls As India's COVID Crisis Worsens
Oil prices dropped on Thursday morning, cutting short the rally to $70 a barrel after the worlds third-largest oil importer, India, reported a fresh record of new daily coronavirus cases. As of 11:17 a.m. EDT on Thursday, WTI Crude was down 0.96 percent at $64.99 and Brent Crude was trading down 0.86 percent at $68.37. Brent prices were a hairs breadth from reaching $70 a barrel on Wednesday, as the market was focused on the reopenings in the United States and Europe, and on the biggest draw in U.S. crude oil inventories since January