The GME GameStop,
the frenzy may have cooled, but attention will focus on the consequences later Thursday, as lawmakers are ready for the grid of key players.
Some of the key players will face the House Financial Services Committee at noon following the backlash against the online trading platform Robinhood and the decisions of other brokers to temporarily restrict trading on some so-called meme stocks, such as the video game retailer, last month.
Bond market sales and rising Treasury yields also remain focused, confirming optimism about the recovery of COVID-19, but also raising concerns about rising inflation. The profitability of the TMUBMUSD10Y three years after the Treasury,
has jumped 38 basis points this year. Yields fell early Thursday ahead of weekly U.S. unemployment claims data later.
BRN00 oil prices,
continued to rise, after US prices CL.1,
they were set above $ 60 Wednesday as freezing conditions kept Texas refineries closed and production disrupted.
In ours call of the dayCommerzbank analysts said commodities were “completely disconnected from reality,” noting that oil prices, in particular, were not driven by news that would normally bring them down. The recent rise in metal prices was also starting to seem “excessive,” they added.
“Nothing seems to be able to stop rising oil prices today,” said energy analyst Carsten Fritsch, who noted that Brent has gained gains in 14 of the last 15 trading days, rising about $ 10. in three weeks. A number of developments were ignored, including reports that higher prices have prompted the Organization of the Petroleum Exporting Countries to consider the possibility of gradually increasing oil supplies from April and the likelihood that Arabia Saudi Arabia will not extend its voluntary production cuts beyond the end of March.
“This selective perception is characteristic of markets in excess phases,” Fritsch added. “Normally, oil prices should have responded to this news by falling significantly because it would likely hit the market with up to 1.5 million additional barrels of crude per day in April,” he said.
This detachment from reality is also present when it comes to copper HG00,
which reached their highest level since April 2012 on Thursday, as well as nickel and aluminum, which have also reached multi-year highs, Commerzbank analysts said, largely in the hope of a significant global economic recovery. Analysts noted that Chinese traders have returned to the markets after a week of vacation, which has pushed up prices.
However, precious and industrial metals analyst Daniel Briesemann said there was no new data to substantiate the “sharp rise” in metal prices in recent weeks. “In our opinion, metal prices are being driven largely by speculation, and the rise is beginning to seem excessive. From a technical perspective, copper and aluminum are being bought back in excess today, measured in relation to the relative strength index, ”he said in a note.
GC00 gold,
which fell below the key level of $ 1,800 per ounce earlier this week, amid rising bond yields and the strength of the dollar, is also disconnected from reality, but in the opposite way, he said. Fritsch.
The tweet
DoubleLine Capital billionaire “Bond King” Jeffrey Gundlach is about to become a Bitcoin BTCUSD,
fan?
The markets
US stock futures YM00,
ES00,
NQ00,
pointed below the open, after the DIA Jones Industrial Average DJIA,
closed at a record high on Wednesday. European equities were lower at the beginning of trading as investors digested mixed corporate gains. Technological stocks plunged Asian markets overnight.
The buzz
Tilray TLRY,
reduced losses and increased revenue in the last three months of 2020, as it prepared to merge with Canadian marijuana company Aphria APHA,
Tilray shares rose more than 8% in premarket trading.
Walmart WMT,
announced a new $ 20 billion share repurchase plan as the retailer’s earnings lost expectations.
Google GOOG,
has made deals in Australia to pay for journalism, while Facebook FB,
has promised to restrict the sharing of news as Australian lawmakers consider forcing digital giants into payment contracts.
Mining stocks gained Thursday as copper futures rose, reaching their highest level since April 2012. Rio Tinto RIO,
Antofagasta ANTO,
and BHP BHP,
they were among the greatest.
Apple AAPL,
the shares were reduced to a one-month low on Wednesday, after the technology giant’s two largest shareholders said they had reduced their stakes.
Airbus AIR,
shares fell more than 3% as the aircraft manufacturer’s guide in 2021 disappointed investors. The company said it does not expect to deliver more aircraft in 2021 than the 566 it delivered in 2020.
Random readings
“I was invited to a vaccine against COVID-19 because the National Health Service thought it was 6cm tall.”
The man finds a washed-out sea mine on the beach and takes it home to use as a footrest.
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