Tuesday, 2 March 2021

Daily Investor Update: OPEC sees positive oil market outlook, continued downside risks

OPEC sees positive oil market outlook, continued downside risks

OPEC sees a generally positive oil market outlook with last year's uncertainty easing, but downside risks caused by the pandemic persist, the group's secretary general and its experts said on Tuesday.

U.S. senators scurry to refine Biden's $1.9 trillion COVID aid ahead of vote

Negotiations over Democratic President Joe Biden's $1.9 trillion COVID-19 relief bill go into overdrive this week as the U.S. Senate begins debate over the sweeping legislation and lawmakers jockey to include pet projects such as broadband connectivity.

Oil falls to two-week lows as OPEC+ seen easing supply curbs

Oil prices fell to their lowest in two weeks on Tuesday on expectations OPEC+ producers will ease supply curbs at their meeting later this week as economies start to recover from the coronavirus crisis.

Wall Street mixed as Apple and Tesla retreat

Wall Street was mixed on Tuesday, with Apple and Tesla losing ground, while materials and energy companies climbed as investors looked toward the U.S. Congress approving another stimulus package.

Texan chipmakers face slow recovery from power crisis as demand rises

Chipmakers, such as Samsung Electronics, will need a couple of weeks to resume production in Texas after shutdowns caused by severe weather, and customers could face knock-on effects in several months' time, a representative of a trade body said.

U.S. Senate confirms Raimondo to head Commerce Department

The U.S. Senate voted 84-15 on Tuesday to confirm Rhode Island Governor Gina Raimondo to head the U.S. Commerce Department, the agency that repeatedly sparred with China during the prior administration.

Stocks edge down as investors hit pause, watch bond yields

Global equity markets were little changed on Tuesday as Wall Street retreated and investors paused to gauge whether a bond yield jump had run its course, taking stock of gains from Monday's surge.

White House using Defense Production Act to equip Merck plants for Johnson & Johnson vaccine

The United States is using the Defense Production Act to equip drugmaker Merck & Co's plants to make Johnson & Johnson's just approved COVID-19 vaccine, White House press secretary Jen Psaki said on Tuesday.

Merck to help make Johnson & Johnson's COVID-19 vaccine: White House official

Merck & Co Inc will help make rival Johnson & Johnson's single-shot COVID-19 vaccine in a partnership set to be announced on Tuesday by U.S. President Joe Biden, White House press secretary Jen Psaki said.

Rocket Companies shares soar more than 70%, hurting short sellers

Shares in heavily-shorted mortgage provider Rocket Companies surged on Tuesday and were set for their third straight day of gains as the stock drew interest on Twitter and Reddit's popular WallStreetBets.

FOREX-Dollar dips, Aussie gains on improving risk sentiment

The dollar dipped on Tuesday and riskier currencies including the Australian dollar gained as U.S. stocks were stable, reflecting improving risk appetite. The greenback has been a beneficiary from recent volatility in stocks, which were roiled last week by a dramati

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