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Oil Posts Strongest Open Since November as Rally Gathers Steam


Oil Posts Strongest Open Since November as Rally Gathers Steam
May 05 2021, 6:54 AM
May 05 2021, 5:58 AM
May 05 2021, 6:54 AM
(Bloomberg) Oil extended a rally after U.S. stockpiles fell and investors applauded reopening drives in the U.S. and Europe that will aid demand.
(Bloomberg) Oil extended a rally after U.S. stockpiles fell and investors applauded reopening drives in the U.S. and Europe that will aid demand.
West Texas Intermediate surged 1.2% at the open, the most since Nov. 4, and gasoline futures hit the highest since July 2018. The American Petroleum Institute reported domestic crude supplies fell by 7.69 million barrels last week, according to people familiar with the data. If confirmed by U.S. government figures on Wednesday, that would be the largest drop since late January. The API report also showed lower gasoline and distillate inventories. ....

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Gates Divorce, Ethereum and Pfizer: 5 Things You Must Know


A bevy of solid earnings reports also has lifted investors optimism.
According to FactSet, more than 60% of the companies in the S&P 500 have posted results, with the blended S&P 500 earnings growth rate in the first quarter at 45.8%, up from 24.5% at the start of earnings season and the 15.8% expected at the start of the quarter. About 86% of companies have surpassed analysts expectations, a record high.
Federal Reserve Chairman Jerome Powell said Monday the economic outlook in the U.S. has “clearly brightened” but the recovery has been uneven. The Fed chief said the  economic downturn has not fallen evenly on all Americans and those least able to bear the burden have been the hardest hit.” ....

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Why going long on Maruti Suzuki futures is a good bet - The Hindu BusinessLine


Why going long on Maruti Suzuki futures is a good bet
As volatility is expected, risk averse traders can stay away from this trade
The stock of Maruti Suzuki is ruling at a crucial level. The stock finds an immediate support at ₹6,311 and the crucial one at ₹6,247. A close below the latter will change the medium term outlook to negative for Maruti Suzuki, which can drive it down to ₹5,888. The stock finds immediate resistance at ₹6,510 and only a close above ₹6,840 will reconfirm the long-term bullish trend. In that case, Maruti can reach ₹7,740. We expect the stock to be more volatile. ....

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