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US Markets

Morning Bid: Micron adds fresh tech fizz, China surges anew​

September 26, 2024 6:16 AM EDT

A look at the day ahead in U.S. and global markets from Mike Dolan

With quarter-end fast approaching, tech excitement returned to Wall Street overnight with another AI-driven earnings beat from Micron Technology (MU.O), opens new tab, while China's stocks (.CSI300), opens new tab surged anew after this week's monetary easing blitz.

The artificial intelligence theme had gone a bit flat in recent weeks as attention switched to aggressive Federal Reserve interest rate cuts - but Micron added fresh fizz overnight.

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Bipartisan ‘Ships for America Act’ Building Support in Congress, Say Sponsors​

September 25, 2024 5:08 PM

A comprehensive bill to restore U.S. shipbuilding capacity, build back its shipyard workforce and crew those ships with American mariners will soon be introduced in both houses of Congress with strong bipartisan support, the chair of the Senate Armed Services Airland subcommittee said Wednesday.

Sen. Mark Kelly (D-Ariz.), a graduate of the Merchant Marine Academy, said the 200-page bill called “Ships for America Act,” has more than 200 members from both houses supporting it and will likely be introduced following the November election.

Kelly and Rep. Mike Waltz (R-Fla.), chair of the House Armed Services Readiness subcommittee, have been meeting “with industry – shipbuilding, operators, labor” to gain support for the bill.

They also were leaders in writing “Congressional Guidance for a National Maritime Strategy,” released this spring, which laid the groundwork for the bill. Waltz called the document “a not so gentle nudge” to the Biden administration and future administrations that the “strength of the Navy will be underlined by the strength of our maritime industry.”

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Wall St closes higher on strong US economic data​

  • US weekly jobless claims slip; Q2 GDP unrevised
  • Accenture gains after upbeat annual revenue forecast
  • Miners jump after report of Chinese stimulus
  • Indexes up: Dow 0.62%, S&P 500 0.4%, Nasdaq 0.6%
Sept 26 (Reuters) - The S&P 500 scored a record closing high and the Dow and Nasdaq rose on Thursday, as Micron Technology (MU.O), opens new tab shares rallied and a strong U.S. jobless claims report eased labor market concerns.

Shares of Micron Technology (MU.O), opens new tab rose 15.78% after the memory chip maker projected first-quarter revenue above expectations, highlighting strong demand for memory chips used in artificial intelligence computing.

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Expert Talks with DNB Markets on U.S. Capital Markets Update​

Sep 26, 2024
Expert Talks with DNB Markets on U.S. Capital Markets Update
Monday, September 23, 2024
Episode #1:
Featuring James Cirenza, Managing Director at DNB Markets Inc.

19:25
 
CLS Week 39 (registration is free)

Fearnleys Week 39

Weekly Container Index 26 Sep

World Container Index - 14 Nov

14 Nov 2024: Drewry’s World Container Index remained stable at $3,440 per 40ft container this week.
www.drewry.co.uk

Commodities - Live Quote Price Trading Data

Trading Economics provides data for several commodities including live bid/ask quotes, last trading prices, forecasts, charts with historical time series and news. This table was last updated on Monday, November 11, 2024.
tradingeconomics.com
 

Morning Bid: US PCE eyed as China rebound accelerates​

September 27, 2024 6:03 AM ED

A look at the day ahead in U.S. and global markets from Mike Dolan

U.S. stocks surf new records as the last full week of the quarter comes to a close, with China's furious monetary easing accelerating the rebound there and Wall Street eyeing the release of the Fed's favored inflation gauge.

After a barrage of interest rate cuts, real estate props and stock market supports this week, China's central bank cut its one-week reverse repo rate by another 20 basis points on Friday - trying to get across what it likely sees as an alarming economic slowdown that may see it miss 2024 targets.

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East/Gulf Coast Longshoreman Union President on a Potential Strike: "I Will Cripple You!"​

Sep 27, 2024 #supplychain #strike #labor

In this episode, Sal Mercogliano - a maritime historian at Campbell University (@campbelledu) and former merchant mariner - discusses the statements by International Longshoreman's Association President Harold Daggett and what a Gulf/East Coast Port strike means for the United States and the global supply chain.

15:47

- ILA Unionhttps://ilaunion.org/
- US Maritime Alliance https://www.usmx.com/

- A Candid Conversation With ILA President Harold J. Daggett On Wide Range of Important Topics • A Candid Conversation With ILA Presid...
- Container Shipping Lines Fear Port Strike Will Paralyze Half of U.S. Tradehttps://gcaptain.com/container-shippi...
- ILA Fires Back at USMX’s Unfair Labor Practice ‘Publicity Stunt’https://gcaptain.com/ila-fires-back-a...
- Potential Impact of an International Longshoreman’s Strikehttps://www.mitre.org/news-insights/p...
 

Dow closes at record high as tame inflation report also lifts small caps​

  • U.S. PCE stands at 2.2% in Aug
  • Russell 2000 index up 0.67%
  • Bristol-Myers gains after schizophrenia drug approval
  • Costco slips after Q4 revenue misses estimates
  • Indexes: Dow up 0.33%, S&P 500 down 0.13%, Nasdaq down 0.39%
Sept 27 (Reuters) - The blue-chip Dow Jones Industrial Average closed at a record high as a subdued inflation report stoked hopes for more Federal Reserve rate cuts, which also boosted small-cap stocks and enabled Wall Street's three main indexes to post weekly gains.

The technology-heavy Nasdaq slipped for the day while the S&P 500 edged slightly lower, but both indexes stayed close to recent record highs.

“The market at this point..(is) pretty much pricing in a soft landing, and pricing in that we have defeated inflation, and that the Fed will be able to lower rates without causing a bunch of harm to the economy”, said Liz Young Thomas, head of investment strategy at SoFi in New York.

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Dow jumps 100 points to close at a record, major averages extend rally to third week: Live updates​

The Dow Jones Industrial Average climbed to a fresh record on Friday as traders digested new data that pointed to further progress in lowering inflation. Wall Street also posted three straight positive weeks.

The 30-stock Dow added 137.89 points, or 0.33%, ending at 42,313.00. The blue-chip average posted a closing record and reached an all-time high during the session. The S&P 500 ticked down 0.13% to 5,738.17, while the Nasdaq Composite lost 0.39% to end at 18,119.59. A 2% decline in Nvidia weighed on the technology-heavy index.

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Closing Markets 9-27-24 | What 3 Factors are Needed to Keep Corn & Soybean Prices Moving Higher?​

Naomi Blohm, Total Farm Marketing, says corn and soybeans have rallied into chart resistance and will need three main fundamental factors to combine to keep prices moving higher..

12:06
 

Gross Ton vs Net Ton in Scrap Metal: What You Need to Know​

Check Scrap Prices: https://iScrapApp.com/ - In this video, Tom breaks down the key differences between a Gross Ton (GT) and a Net Ton (NT) in the scrap metal industry. Understanding how scrap yards weigh and price materials is crucial for maximizing your profits.
Read more: https://iscrapapp.com/blog/the-differ...

3:01

What You'll Learn:
The difference between GT and NT
Why do some scrap yards use Gross Tons for pricing?
How to ask your yard about their weighing system
 

Stocks to watch amid the threat of a major East Coast port strike this week​

A large strike at East Coast ports could begin on October 1 unless a new contract is approved by the International Longshoremen's Association. As many as 36 East Coast and Gulf Coast ports could be impacted. Reports indicate that negotiations are still stalled on issues such as wages, benefits, and port automation. The ILA union has not been on strike since 1977.

Every week that cargo is stalled and backlogs created could take as long as a month to clear because West Coast ports are already operating at near capacity, according to Oxford Economics. Analysts have warned that U.S. retailers, automakers, and other businesses across various sectors could face higher freight rates as they make contingency plans for inventory. C.H. Robinson Worldwide (CHRW) warned that contingency routes could become overwhelmed rapidly if a port strike is not resolved quickly. Major shipping lines like such as Maersk (OTCPK:AMKBY), Hapag-Lloyd (OTCPK:HPGLY), and CMA CGM are reportedly already implementing surcharges due to the surge in demand.

J.P. Morgan analyst Brian Ossenbeck said he would be surprised if an East Coast port strike lasted longer than a week. However, the firm warned that in the best worst-case scenario, consumers could face higher prices or empty shelves for certain products.

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Morning Bid: Powell to close out Q3, China stocks boom 8%​

September 30, 2024 6:33 AM EDT

A look at the day ahead in U.S. and global markets from Mike Dolan

The final day of another punchy quarter for U.S. stocks has proven a more volatile affair overseas: China's stellar stock (.CSI300), opens new tab recovery has added another whopping 8% pre-holiday, while Tokyo's (.N225), opens new tab swoon on the new Japanese prime minister jarred in the other direction.

For Wall Street, Federal Reserve Chair Jerome Powell tees up in Nashville later to give his latest steer on the unfolding Fed easing cycle, with soothing August inflation numbers as a welcome backdrop. The rest of the week looks set to be dominated by soundings on the labor market, the upcoming earnings season and the start of the election-edged final quarter.

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US to unveil first of two decisions on more solar tariffs​

Sept 30 (Reuters) - U.S. trade officials this week may impose new tariffs on solar panels from four Southeast Asian nations that American manufacturers have complained employ unfair subsidies that make U.S. products uncompetitive.

The announcement, due on Tuesday, is the first of two preliminary decisions the Commerce Department will make this year in a trade case brought by Korea's (000880.KS), opens new tab Hanwha Qcells, Arizona-based First Solar (FSLR.O), opens new tab and several smaller companies seeking to protect billions of dollars in investments in U.S. solar manufacturing.

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Barron's

Many Dockworkers Make $150,000 or More. Why They’re About to Strike.​

Thousands of dockworkers at ports on the East and Gulf coasts are preparing to go on strike at midnight Monday when their current contract is set to expire, as negotiations with port employers for a new labor contract have reached an impasse.

Port workers have some of the highest wages among blue-collar workers. Under the current contract with the East Coast union, a top-scale longshoreman could earn up to $39 an hour, which translates to about $81,000 a year. But many workers take overtime and extra shifts that have higher rates.

Neither the union nor the ports have disclosed exact pay levels. But according to a 2020 report by the Waterfront Commission, the regulator that oversees New York Harbor, more than half of the longshoremen based there made $150,000 or more.

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S&P 500 ekes out record closing high; declines briefly after Powell​

  • CVS gains after report Glenview to meet with executives
  • Investors digest Powell comments at conference
  • Indexes up: Dow up 0.04%, S&P 500 up 0.4%, Nasdaq up 0.4%
NEW YORK, Sept 30 (Reuters) - The S&P 500 sputtered to a record high close on Monday, rebounding from a brief setback after Federal Reserve Chair Jerome Powell said the U.S. central bank is in no hurry to implement further interest rate cuts.

The Dow also posted an all-time closing high. The three major U.S. stock indexes registered gains for the quarter and for the month.

Powell, at a National Association for Business Economics conference in Nashville, Tennessee, said he sees two more rate cuts, totaling 50 basis points, this year as a baseline if the economy evolves as expected.

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US East Coast dockworkers strike, halting half the nation's ocean shipping​

  • ILA strike in first such action by the union since 1977
  • Strike could cost the economy an estimated $5 billion a day
  • Strike disputes include pay, terminal automation project issues
  • White House officials hope for short strike, sources say
NEW YORK, Oct 1 (Reuters) - Dockworkers on the U.S. East Coast and Gulf Coast began a strike early on Tuesday, their first large-scale stoppage in nearly 50 years, halting the flow of about half the nation's ocean shipping after negotiations for a new labor contract broke down over wages.

The strike blocks everything from food to automobile shipments across dozens of ports from Maine to Texas, in a disruption analysts warned will cost the economy billions of dollars a day, threaten jobs, and stoke inflation.

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From a merchant seamen

Will the ILA Strike Affect Me?​

Premiered 9 hours ago

In this video, I am just trying to briefly explain how the pending ILA strike could affect people on the ships. If you have any further information, please drop it in the comments section. It would be much appreciated.️

9:55
 
Siberia was once the world headquarters of suffering, but then it became a staggering cache of oil, gas and gold.

Making a fortune in the frozen wilds of Siberia | 60 Minutes Australia​

Oct 1, 2024 #60MinutesAustralia

Synopsis | Frozen Fortunes (2011)Liam Bartlett wondered what on earth he'd done wrong, when we packed him off to the desolate wilds of Siberia. After all, it's not the kind of place you generally visit willingly. People used to be dragged there in chains and then worked to death. But this gigantic frozen slab of Russia is getting an image makeover. It may never rival New York or Paris as a tourist destination. But in 2011, there was a minerals boom going on that dwarfed anything that's happening in Australia. And, if you were an investor, icy Siberia was hot, hot, hot.

14:09
 

Morning Bid: Stocks kick off Q4 at record, euro inflation undershoots​

October 1, 2024

A look at the day ahead in U.S. and global markets from Mike Dolan

Wall Street's S&P500 (.SPX), opens new tab kicks off the final quarter of a stellar 2024 from yet another record close notched on Monday - with odd quarter-end effects competing with measured Federal Reserve guidance as labor market updates hit the radar.

Fed chair Jerome Powell cooled speculation of a second 50 basis point cut at the central bank's next meeting, indicating the central bank was in no rush and suggesting that two more quarter-point rate cuts by year's end was a base case.

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​

 

Companies have planned for US East Coast ports strike​

Oct 1 (Reuters) - Some 45,000 union workers walked off the job at seaports on the U.S. East and Gulf Coasts on Oct. 1, cutting off vital trade arteries just weeks ahead of the nation's presidential election.

The International Longshoremen's Association (ILA) union, which represents dockworkers across 36 ports on the U.S. East Coast and the Gulf of Mexico, remains deadlocked with the United States Maritime Alliance (USMX) employer group on wage issues.

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Panama flag acts tough in wake of OFAC sanctions - Splash247

The Panama Maritime Authority (PMA) has vowed to cancel the registration of any vessel found to be involved in illegal activities or that changes its flag to evade sanctions. This clarification comes in response to the recent inclusion of seven Panamanian-flagged vessels on the US’s Office of...
splash247.com
 

ILA Dockworkers Launch Strike at US East/Gulf Coast Ports | What Is the Impact on the Consumer?​

Oct 1, 2024 #supplychain #strike #labor

In this episode, Sal Mercogliano - a maritime historian at Campbell University (@campbelledu) and former merchant mariner - appears on LiveNow FOX shortly after the International Longshoreman's Association went out on strike at Midnight, October 1 against the US Maritime Alliance (USMX) and what this means for the ports on the US East/Gulf Coasts and the global supply chain.

8:25

- Dockworkers launch strike at U.S. ports, could cost billions | LiveNOW from FOX • Dockworkers launch strike at U.S. por...
- ILA Unionhttps://ilaunion.org/
- US Maritime Alliance https://www.usmx.com/
 

Port workers strike turns violent in Baltimore​

Oct 1, 2024

The port workers strike in Baltimore turned violent Tuesday just hours after the contract between the ports and about 45,000 members of the International Longshoremen’s Association expired at midnight.

3:13
 

Philadelphia dockworkers among thousands to hit the picket line today​

Oct 1, 2024

2:43
 

Extreme Weather Around the World Risks Boosting Food Bills

(Bloomberg) -- Droughts, downpours and fires from Asia to the Americas are stoking worries about crop harvests, pushing up prices for food staples that could eventually flow through to higher grocery bills.Most Read from BloombergA 7,000-Year-Old City Emerges as a Haven from Dubai’s Sky-High...
www.yahoo.com
 
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