Posts belonging to Category Prices



The US offshore wind industry is about to take off

8 States have approved plans to build wind farms

There are only five wind turbines operating in U.S. waters today. But that will likely soon change, partly because of states with ambitious offshore wind targets.

Massachusetts, for example, is about to pick one of the three bids it got from companies vying to build one of the nation’s first commercial-scale offshore wind farms. Equipped with the capacity to generate enough electricity to power as many as 150,000 homes, the turbines located about 20 miles southwest of Martha’s Vineyard would be among several big offshore wind projects that could transform the grid.

https://www.businessinsider.com/

Saudi Arabia is ready to increase its oil production

A war with Iran won’t affect global oil production

Saudi Arabia is ready to increase its oil production in response to the expected decline in Iranian crude oil for international markets following President Trump’s withdrawal from the Iran nuclear deal. That’s what an official from the Saudi energy ministry told local state news agency SPA.

Saudi Arabia supported Trump’s decision on the nuclear deal, unlike the United States’ allies in Western Europe: the heads of France, the UK, and Germany stated they are committed to upholding the Iran nuclear deal.

Russia and China—also signatories to the deal—have opposed Trump’s decision and are unlikely to make any changes to their economic relations with Iran following the U.S. withdrawal. While Russia is not a consumer of Iranian oil, China and India are—and they are unlikely to stop taking in Iranian crude despite the sanctions.

 https://www.oilprice.com/

Venezuela’s economy is collapsing

Venezuela’s inflation could soar 13,000 percent by year’s end

Venezuela’s president says he’s boosting the minimum wage by 155 percent to keep up with runaway inflation that’s making it difficult for people to afford daily goods.

President Nicolas Maduro issued an order that brings the monthly wage to 1 million bolivars, or $1.61 on the commonly used black market. It’s the third increase this year. Despite having the world’s largest proven oil reserves, Venezuela is in its fifth year of an economic crisis worse than the Great Depression.

The International Monetary Fund has said it estimates that Venezuela’s inflation could soar 13,000 percent by year’s end.

Maduro will seek a second six-year term on May 20.

https://abcnews.go.com/

OPEC Deal In Jeopardy

Iran And Saudi Arabia Square Off

Iran and Saudi Arabia are at odds over what to do next with the OPEC agreement, a conflict that could sow the seeds of the agreement’s demise over the course of the next year. As the WSJ notes, the dispute centers around exactly what price the cartel should be targeting. Iran’s oil minister has said that the group should not push prices too high because it would likely spark an even greater production response from shale drillers. “If the price jumps [to] around $70…it will motivate more production in shale oil in the United States,” Iranian oil minister Bijan Zanganeh told the WSJ. Zanganeh has suggested $60 is about the right price for now.

Meanwhile, Saudi Arabia, which has much higher budgetary requirements and a desperate need to lift oil prices in order to bolster the valuation of the Saudi Aramco IPO, is unofficially aiming for $70 per barrel. Saudi oil minister Khalid al-Falih has repeatedly dismissed concerns about a shale wave. Instead, the Saudis are hoping to keep the limits in place regardless of what U.S. shale does, at least for the next year or so. In the meantime, Saudi Arabia is trying to stitch together a more permanent framework with Russia for 2019 and beyond.

Global economy will slow after 2019

The global economy is still on an upswing

The International Monetary Fund said on Tuesday it expects global growth will inch up from 3.8% in 2017 — its fastest pace in six years — to 3.9% in 2018 and 2019. That’s in line with its most recent estimate in January.

It also upgraded its forecast for US growth in 2018 to 2.9%, up from 2.7% previously. But things don’t look as good in 2020 and beyond.

“Global growth is projected to soften beyond the next couple of years,” the IMF said in its latest World Economic Outlook.

Five top stock ideas

Big gains

Morgan Stanley revealed its favorite stock picks to its clients, predicting big gains for several stocks this year.

These are “the firm’s best stock recommendations,” Morgan Stanley’s research team wrote Wednesday. “Selection criteria is simple – stocks that we expect to outperform the market in the next 3-6 months based on specific catalysts such as a change in industry fundamentals, a positive EPS surprise, or new product introduction.”

https://www.cnbc.com/

Netflix stock rises

Netflix subscribers up 50% from the same quarter a year earlier

Netflix (NFLX) added 7.4 million subscribers in the first three months of 2018, up 50% from the same quarter a year earlier, the company reported on Monday. It now has 125 million subscribers. The strong subscriber growth came in well ahead of Wall Street’s estimates, helping send Netflix stock up 6% in after-hours trading Monday.

Daniel Ives, an analyst with GBH Insights, called Netflix’s earnings results “eye popping” in an investor note. Netflix is currently ranked No. 4 on the IBD 50 list of top-performing growth stocks. It’s also featured on IBD’s Leaderboard list of stocks with the potential for big gains. Deutsche Bank analyst Bryan Kraft upgraded Netflix to buy from hold on Friday and set a 12-month price target of 350.

http://www.cnn.com/

Humans are sometimes superior to robots

Elon Musk tweets about Tesla delays

  • “Yes, excessive automation at Tesla was a mistake. To be precise, my mistake. Humans are underrated,” Musk wrote in a tweet on Friday3.
  • His tweet came in response to a story from CBS, in which the CEO bemoaned the Model 3 as overly ambitious, and the production process as too technical.

http://www.cnbc.com/

China cuts tariffs

U.S. trade row deepens

Chinese President Xi Jinping promised on Tuesday to open the country’s economy further and lower import tariffs on products like cars, in a speech seen as an attempt to defuse an escalating trade dispute with the United States. While much of his pledges were reiterations of previously announced reforms that foreign businesses say are long overdue, Xi’s comments sent stock markets and the U.S. dollar higher on hopes of a compromise that could avert a trade war.

Xi said China will widen market access for foreign investors, addressing a chief complaint of its trading partners and a point of contention for U.S. President Donald Trump’s administration, which has threatened billions of dollars in tariffs on Chinese goods.

http://www.reuters.com/

8 stocks to buy and make a killing in the next 3 months

Bank of America Merrill Lynch released a stocks list 

“These high conviction ideas are based on our views of potential significant market and business-related catalysts that we think will affect these stocks in the quarter,” the bank said in a note.

Here are the top four: Abbott Laboratories (ABT), Automatic Data Processing, (ADP), Coca-Cola European Partners (CCE), Discovery, Inc. (DI SCA)…

 http://www.businessinsider.com