US stocks soar Oil rises as inventories decline

Oil prices rose moderately on Wednesday morning after falling to the lowest levels of the previous week

Evest follows market developments in the following report

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Oil rises as US inventories decline

Weekly oil production rates

Significant rise in US stock indices

US corporate results push stocks lower and higher

Oil rises as US inventories decline

The June futures cost for Brent crude on the London Stock Exchange ICE Futures was $108.23 per barrel, which is $0.98 (0.91%) higher than the closing price of the previous session
As a result of Tuesday’s trading, these futures declined by $5.91 (5.2%) to $107.25 per barrel

The price of West Texas Intermediate oil futures for May in electronic trading on the New York Mercantile Exchange (NYMEX) was $103.38 per barrel, $0.82 (0.8%) higher than the final value of the previous session
The day before, these futures fell by $5.65 (5.2%) to $102.56 per barrel

According to analysts, the dollar’s rally adversely affected market participants on Monday
The appreciation of the dollar leads to higher oil value for traders using other currencies

According to experts: “U.S. Federal Reserve officials remain hawkish
suggesting the dollar could rise further this year

In addition, the IMF’s lower forecast for global economic growth in 2022 has also affected the energy market’s forecast for demand under expectations of higher inflation and higher oil prices

Traders analyze data on the weekly change in US fuel reserves provided by the American Petroleum Institute (API)
In the week ending April 15, the country’s oil reserves fell by 4.5 million barrels
and gasoline inventories rose by 2.9 million barrels
Distillates fell by 1.7 million barrels
Oil reserves at the terminal in Cushing, Oklahoma
where oil traded on the NYMEX Stock Exchange is stored, rose by 93000 barrels

The market is awaiting the publication of official data on reserves by the US Department of Energy later today, Wednesday. S&P Global Commodity Insights experts predict an increase in crude oil reserves by 2.2 million barrels, gasoline and distillate inventories to fall by 1.2 million barrels and 1 million barrels respectively

artical name US stocks soar

Toshiba suspends investments in Russia

Toshiba said in a statement that the Japanese group had suspended its investments in Russia under a special operation in Ukraine

In addition, Toshiba temporarily stopped accepting applications from the Russian Federation
“We will continue to monitor the situation and hope for a speedy end to the conflict,” the statement said

According to the results of the fiscal year ended March 2022
Russia’s share constitutes about 0.2% of Toshiba’s consolidated revenue

artical name US stocks soar

Significant rise in US stock indices

US stock indices ended the session on Tuesday with a steady rally after falling on the basis of the previous two trades

The Dow Jones Industrial Index rose by 499.51 points (1.45%) to 34911.2 on Tuesday
and The gainers were Nike, up 4.1%, Boeing – up 3.4% and The Walt Disney Company – up 3.2%

The Standard & Poor’s 500′ day value rose by 70.52 points (1.61%) to 4462.21 points
Following the session
the Nasdaq Composite index rose by 287.3 points (2.15%) to 13619.66

Market participants’ attention is mainly focused on corporate reports
In the meantime
the significant decline in oil prices was a positive factor
in particular, WTI fell more than 5%, according to MarketWatch

“We have slightly low oil and natural gas prices,” said Scott Wren
senior global market analyst at the Wells Fargo Investment Institute
which may have caused some “enthusiasm” in the market, according to Reuters
The expert noted that when consumers pay less for motor fuel
they have more money to cover other expenses

The Standard & Poor’s 500 energy sector was the only one to show a decline on Tuesday
Including Chevron shares, Exxon Mobil stocks fell by 1.2 percent or 0.9 percent

The Commerce Department said that the number of homes that started in
the United States in March rose by 0.3% from the previous month to 1.793 million year-on-year
up from 1.788 million

That came as a surprise to experts, who forecast an average decline of 1.745 million
from February’s previously announced level of 1.769 million, according to Trading Economics

US corporate results push stocks lower and higher

Revenues for Johnson & Johnson, the world’s largest maker of health products, increased last quarter, but its net profit fell
In the meantime, the company increased its annual forecast on financial indices but increased its dividend
J&J stock quotes rose by 3.1% on a traded basis

Hasbro cut its net profit for the January-March period by 47%
which turned out to be worse than the average analyst estimates
In the meantime
the gaming maker’s revenue exceeded expectations
while reiterating its 2022 growth forecast at 1-3%
Hasbro jumped 5.2%

The net profit of Hunt Transport Services, one of the largest US Freight carriers, rose by 66%
while the number was better than experts’ expectations
Stocks rose by 1.4%

Paper Plug Power Inc rose 9.8% on news that the company had signed an agreement with the retail company
Walmart, over the supply of up to 20 tons of “green” hydrogen per day
This fuel will be used for forklifts at Walmart distribution centers in the United States
The retailer’s stock price rose by 1.1%

American Campus Communities Inc, which owns student housing
jumped 12.5% after Blackstone Inc. It announced its purchase for $12.8 billion taking into account debt

Halliburton’s net profit and revenue increased in the January-March period
However the oilfield services company’s paperwork
which reached a year-and-a-half high the previous day, fell by 0.8%

Military-industrial concern Lockheed Martin reported higher-than-market net profit in the first quarter
but revenue fell short of analyst expectations
The stock price fell by 1.6%

artical name US stocks soar

US stocks soar

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