Archives of “April 8, 2021” day

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Shell (world’s biggest fuel retailer) indicator suggests fuel demand recovery has remained slow

  
Analysis, Crude
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An ICYMI on the still-slow recovery from coronavirus impacts across much of the globe:

  • Shell expects its fuel sales to fall or at best be broadly steady for the first quarter
  • said it saw refined oil product sales at 3.7-4.7 million barrels per day (bpd) for the first quarter compared with just under 4.8 million bpd in the last quarter of 2020. It had previously forecast sales of 4-5 million bpd.
Info via Reuters, was posted overnight ICYMI.
An ICYMI on the still-slow recovery from coronavirus impacts across much of the globe:

People’s Bank of China wary of rising household debt – could damage economic recovery

  
Analysis, Economy

A PBOC research paper is highlighting that a household credit boom could tend to drag down economic growth more so than corporate debt.

  • researchers say household leverage slowed real per-capita GDP growth by 3.7% in five years
  • due to indebted houlsegholds reducing consumption
  • and that highly-indebted households are vulnerable to negative income changes
  • recommend that policy makers strictly control the leverage of households
The rapid increase in household debt in China has been driven by mortgages & a relaxation in lending standards.
A PBOC research paper is highlighting that a household credit boom could tend to drag down economic growth more so than corporate debt.

Major averages close near unchanged levels

  
Analysis, US Market
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The S&P index did close at a new record high

The major indices are closing their unchanged levels give or take. The broader S&P index traded to a high of 4083.16. That was just short of the all-time high reached yesterday at 4086.23 (but it did close at a new record high).

  • The NASDAQ index is down for the second consecutive day but with only modest declines over each day (the NASDAQ fell -0.05% yesterday and declined -0.07% today)
  • The volatility index (VIX) trades at the lowest level since February 2020. The low reached 16.87% today
  • S&P is up for the fourth of five sessions but only marginally today. The S&P fell -0.10% yesterday.
  • The S&P index did close at a new all-time record high at 4079.95. That took out the high close from Monday at 4077.91.
  • Dow closes higher for the third day in the last four
A look at the final numbers shows;
  • S&P index rose 5.79 points or 0.14% at 4079.73. The high reached 4083.13. The low extended to 4006 8.31
  • NASDAQ index fell -9.536 points or -0.07% at 13688.84. The high reached 13733.03. The low extended to 13653.58
  • Dow rose 15.96 points or 0.05% at 33446.20 . The high reached 33521.76. The low extended to 33347.96
Large cap growth stocks all rose with percentage gains above the averages today:
  • Square, +3.6%
  • Facebook, +2.23%
  • Amazon, +1.72%
  • alphabetic, +1.35%
  • Apple, +1.34%
  • Intel, +1.05%
  • PayPal, +0.95%
  • Microsoft, +0.82%
  • Netflix, +0.45%
The Russell 2000 index of small-cap stocks did not fare well today. That index fell -37.12 points or -1.64% at 2222.05.
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