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5 things to know before the stock market opens Monday U.S. stock futures started the new month moving sharply higher Monday, trying to put a dent in the late February decline.
Amazon workers in a warehouse in Alabama have received new support to unionize on Sunday, that is, from President Biden, saying workers should be able to make their own choice about unionizing, free from corporate pressure, according to Bloomberg.Â
Jennifer Epstein, White House reporter at Bloomberg, said the Biden administration released a new direct-to-camera video featuring Biden who weighed in on the push for Amazon warehouse employees at the Bessemer, Alabama, Amazon Fulfillment Center, to unionize. He told workers to make their voices heard, saying it s up to them to unionize.Â
17 hours Libya’s Largest Oilfield Could See Exports Interrupted 18 hours Smaller Oil Tanker Rates Recover After OPEC+ Agrees To Ease Cuts 19 hours U.S. LNG Exports Fall From Record Highs 23 hours Oman s State-owned Oil Company QQ Mulls IPO 24 hours Biden’s Plan Looks To Eliminate $35 Billion Fossil Fuel Subsidies 1 day M&A In U.S. Oil And Gas To Hit $3.4 Billion In Q1 2021 1 day U.S. Shale Giant Thanks OPEC+ For ‘Brilliant’ Market Rebalancing Efforts 2 days China Started More Coal Plants Than The Entire World Retired In 2020 2 days China s Official Oil Imports Drop As It Buys More Iranian Crude 2 days
The decision of Brazil s president Jair Bolsonaro to replace the chief executive of oil major Petrobras triggered investor panic and a selloff that led to a slump in the company s shares yesterday that can be measured in billions
CFNAI super index moving average index shows a modest decline (SPY -0.4%). Airlines slammed by soaring jet fuel prices. Elevated bond yields weigh on tech shares.
Here is the current market situation from CNN Money
North and South American markets are mixed. The IPC is higher by 0.29%, while the Bovespa is leading the S&P 500 lower. They are down 4.37% and 0.40% respectively.
What Is Moving the Markets
Here are the headlines moving the markets.
Oil Prices Spike As U.S. Outages Tighten Supply Oil prices rebounded again on Monday, with WTI shooting up more than 3% to over $61 per barrel by noon ET. Oil prices spiked to 13-month highs last week after the Texas Freeze, but prices sagged toward the latter part of the week. But on Monday, a new price rally began, with the price of WTI spiking $1.81 per barrel to $61.05. Brent shot up by $1.73 to $64.64. The price hike comes shortly after Goldman Sachs forecast that oil prices would climb into the $70s over the next few months, an