Wall Street Today | The world could be on the brink of an energy crisis rivaling the 1970s
Stocks dip as traders mull growth risks from crude
Stocks dipped in the Asia-Pacific on Friday as elevated oil prices fanned concerns about global growth and inflation risks from the war in Ukraine and the isolation of Russia's economy.
Australian equities fell, while futures for Japan and Hong Kong signaled a subdued open. $S&P 500 Index(.SPX.US$ and $NASDAQ 100 Index(.NDX.US$ contracts made modest gains after technology stocks led U.S. shares lower in a choppy session.
Powell tunes out Washington clamor, sticks to quarter-point plan
Powell he would -- starting with a quarter-point increase in interest rates at the central bank's policy meeting on March 15-16. But that effectively takes a bolder half-point move aired by some of his colleagues off the table, just as Russia's invasion of Ukraine sends oil prices surging, which will only make inflation worse.
The world could be on the brink of an energy crisis rivaling the 1970s, says IHS Markit's Yergin
"This is going to be a really big disruption in terms of logistics, and people are going to be scrambling for barrels," Yergin said. "This is a supply crisis. It's a logistics crisis. It's a payment crisis, and this could well be on the scale of the 1970s."
He said strong communications between governments imposing the sanctions and the industry could head off a worst-case scenario. "Governments need to provide clarity," Yergin said.
Rice soars as Ukraine war starts scramble for any and all grains
Prices for rice are surging because traders are betting it will be an alternative for wheat, which is becoming prohibitively expensive. Exports of wheat from Russia and Ukraine account for more than a quarter of the crop's trade worldwide and a fifth of corn sales. Shipping in the Black Sea region is already engulfed in chaos.
Russia's crypto volumes are stalling across the major exchanges
The Russians-are-evading-sanctions-via-crypto narrative looks off the mark. "This is a fraction of the volume that was seen during the all-time highs of Russian crypto trading volume reached May 2021," said Madeleine Kennedy, senior director of communications at Chainalysis
Gap sees profitability improving following holiday sales miss
$Gap Inc(GPS.US$ gave an optimistic projection for the current year, saying its strategic moves are starting to pay off, even though the apparel maker’s fourth-quarter results missed estimates on several key measures. The shares rose in late trading.
Apple's decision to stop selling products in Russia puts pressure on other smartphone makers
The move "absolutely" puts pressure on rival firms like Samsung to follow, CCS Insight Chief Analyst Ben Wood told CNBC Wednesday. "It is important that they've made a statement," Wood said in reference to $Apple(AAPL.US$. "They're leading from the front on it," he said, adding that some of Apple's rivals sell significant volumes into Russia.
Anshel Sag, principal analyst at Moor Insights and Strategy, told CNBC that Apple's move "could force others to follow suit."
Kroger sales, earnings grow as higher costs persist
$The Kroger(KR.US$ said its streak of strong sales and profits continued in the latest quarter, as U.S. consumers have been eating more at home. Digital sales doubled in the latest quarter from two years ago, though that growth won't be "linear" going forward as customers become more comfortable shopping in person.
Kroger shares settled 11.6% higher Thursday at $55.10, an all-time high.
Source: Bloomberg, CNBC, WSJ
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Win or Lost : Times to buy oil stocks ?
bullrider_21 Win or Lost : Yes. They have been rallying for some time already. But still have more upside.
101517037 : Hi