Boeing monthly aircraft orders outpace cancellations for first time since 2019 (SPY +1.8%). Tech comeback rally gains steam as Tesla up 10%.
Here is the current market situation from CNN Money
North and South American markets are sharply higher today with shares in U.S. leading the region. The S&P 500 is up 1.87% while Mexico s IPC is up 1.58% and Brazil s Bovespa is up 1.01%.
What Is Moving the Markets
Here are the headlines moving the markets.
China Carbon Market Set For Explosive Growth Chinas carbon emissions market is set to expand 30 times over the next ten years, reaching $25 billion by 2030, Bloomberg reports, citing an analysis by Citi. The Chinese national ETS [emissions trading system] as currently rolled out should play a limited role in reducing emissions at first, Citi analyst Tracy Liao said, as quoted by Bloomberg. We expect a series of developments to transform Chinas ETS into the worlds largest effective carbon trading scheme and a key building block of t
Dick s Sporting Goods shares fall as retailer predicts slowing sales in year ahead (SPY +1.4%). Nvidia stock leads chip rally as tech shares bounce back.
The Market in Perspective
Here are the headlines moving the markets.
How Oil Could Go To $100 Per Barrel In its February Short Term Energy Outlook (STEO), the EIA forecasts this month s world oil consumption at 96.7 million barrels per day (mbpd). The oil supply, however, is much lower, only 93.6 mbpd, with the difference of 3.1 mbpd of necessity being drawn from crude oil and refined product inventories. By historical standards, a sustained draw of 3 mbpd is large, and we would expect prices to be rising under such circumstances. The EIA sees demand continuing to recover at a good pace to mid-year, with July world oil consumption forecast at 98.2
Cathie Wood made the first appearance in her Monday media tour when she took to CNBC at 3PM eastern to talk about the tech rout, which has crushed numerous ARK ETFs. ARKK was plumbing new lows when the conversation started with the woman who has captured the attention of Wall Street , as CNBC s Wilfred Frost introduced her.
About The Sell Off
When asked how concerned she was about the market, Wood did not attribute the tech pullback to rates rising. We ve been struck that the market never priced in 0.5%, 1% or 1.5% interest rates, she said. Over time markets have used a normalized 3% to 5%, and we don t think that s why the market is correcting.
The Nasdaq got clobbered (again) as investors pulled out of Big Tech (SPY -1.2%). Gigafactory demand leads to price explosion in battery-grade lithium.
The Market in Perspective
Here are the headlines moving the markets.
Clean Energy Investing Is Becoming A Bubble Remember when EV and hydrogen truck maker Nikola listed last year? The stock soared in the first months of trading, only to slump heavily just a few months later after allegations were madeand later confirmedthat the CEO of the company had misled investors about its products. According to some analysts, many companies like Nikola are out there touting EVs, solar, wind, and hydrogen. And many of them will sink, taking their investors down with them. Every green energy proposal we have examined relies on the trifecta of wind,