All major exchanges lost some ground today with the Dow down 0.24%, NASDAQ down 0.17, and SandP down 0.28. Gold closed over 1900. Bitcoin up at $37,515. WTI closed marginally down at $65.82
The Market in Perspective
Here are the headlines moving the markets.
Iran Has 69 Million Barrels Of Oil Ready For When U.S. Sanctions End Iran may have some 69 million barrels of oil in floating storage waiting on tankers to travel to buyers when U.S. sanctions on its crude oil exports are removed, estimates from E.A. Gibson Shipbrokers cited by Bloomberg showed on Tuesday. Citigroup also has a similar estimate on Irans floating storage. In a note on Monday, the bank said Iran could have around 65 million barrels of oil stored at sea, plus another 54 million barrels in storage onshore. The United States and Iran have been holding indirect talks in Vienna since last
Sources of capital in the post-PPP environment
Shaun Kelley
The Paycheck Protection Program (PPP) offered a lifeline to small businesses through forgivable loans that helped them retain workers and keep their doors open during the COVID-19 pandemic.
At Zions Bank, we are proud to have processed more than 3,100 Idaho loans that preserved payrolls for nearly 40,000 workers a testament to the resilient spirit of the Gem State’s entrepreneurs.
Now, with a major economic rebound expected, and PPP funds largely exhausted, it’s wise for small business owners to educate themselves on the additional sources of capital available as they prepare to meet increased consumer demand.
Investing Daily Printable PDF
Founding father James Madison said: “The circulation of confidence is better than the circulation of money.” As we’re currently seeing, confidence does indeed beget prosperity.
As vaccination rates increase and government stimulus checks flow into the economy, indicators point to a robust recovery. One of those indicators is rising confidence, a fragile but powerful force.
This earnings season, management teams from all corners of the market are issuing some of the rosiest business forecasts since last year’s coronavirus outbreak. A number of these businesses are deploying their idle cash into capital investment and mergers and acquisitions, laying the groundwork for faster economic growth down the road.
Furniture World News
MONTHLY RESULTS
New Orders
According to our latest survey of residential furniture manufacturers and distributors, February 2021 new orders were 34% higher than February 2020 orders continuing the string of strong double-digit growth in new orders, now up 9 months in a row. January’s new orders were up 27%. New orders were up for 94% of the participants.
For the first two months of the year, new orders were up 31% over the same two months of 2020. Year to date, new orders were up for 88% of the participants. We are not sure what we will see for the next two months as March 2020 was when we first saw the drop off of business due to the onset of the pandemic. So, the next few months will likely show some drastic variations, which will take a while for the numbers to get sorted out.
US Consumer Confidence Up Sharply Again in April
The Conference Board Consumer Confidence Index® Climbs to Highest Level since February 2020
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NEW YORK, April 27, 2021 /PRNewswire/ The Conference Board
Consumer Confidence Index® rose sharply again in April, following a substantial gain in March. The Index now stands at 121.7 (1985=100), up from 109.0 in March. The Present Situation Index based on consumers assessment of current business and labor market conditions soared from 110.1 to 139.6. The Expectations Index based on consumers short-term outlook for income, business, and labor market conditions rose moderately, from 108.3 last month to 109.8 in April.
The monthly