{"id":60254,"date":"2022-03-08T08:49:51","date_gmt":"2022-03-08T13:49:51","guid":{"rendered":"https:\/\/www.t3live.com\/blog\/?p=60254"},"modified":"2022-03-08T08:59:25","modified_gmt":"2022-03-08T13:59:25","slug":"coffee-with-greta-us-set-to-ban-russian-oil","status":"publish","type":"post","link":"https:\/\/blog.t3live.com\/2022\/03\/08\/coffee-with-greta-us-set-to-ban-russian-oil\/","title":{"rendered":"Coffee With Greta: U.S. Set to Ban Russian Oil"},"content":{"rendered":"

Editor's Note:<\/strong> Coffee With Greta is a FREE morning update from our newest contributor Greta Wall. Want to get it by email every day? Click here<\/span><\/a><\/strong>.<\/p>\n

********<\/p>\n

DJIA Futures: <\/b>+51 (+0.2%)<\/span><\/p>\n

SPX Futures:\u00a0<\/b>+6 (+0.2%)<\/p>\n

NASDAQ Futures: <\/b>-15 (-0.1%)<\/span><\/p>\n

Good morning friends!<\/span><\/p>\n

Futures are mixed as oil prices continue to spike and U.S. gas prices hit a new record high.<\/span><\/p>\n

Let\u2019s get right to it!<\/span><\/p>\n

U.S. to Ban Russian Oil\u00a0<\/strong><\/h2>\n

Oil prices are still rising after Bloomberg reported the U.S. is preparing to ban Russian oil imports.<\/span><\/p>\n

West Texas Intermediate crude futures are up 3.4% to $123.51 per barrel with Brent crude futures rising 3.9% to $127.96 per barrel.\u00a0<\/span><\/p>\n

The Biden administration is expected to announce that oil ban today which would also include Russian liquefied natural gas and coal.<\/span><\/p>\n

President Biden is scheduled to speak at 10:45 a.m. ET.<\/p>\n

U.S. gas prices set a new all-time record today with AAA reporting the national average rose to $4.173 per gallon for regular.\u00a0<\/span><\/p>\n

The previous record was $4.114 in July 2008.<\/span><\/p>\n

U.S. gas prices have risen 55 cents in the past week and 72 cents compared to a month ago.<\/span><\/p>\n

Wheat Prices Hit All-Time Record<\/strong><\/h2>\n

Wheat futures trading was halted for the seventh consecutive session as prices hit limit-up at $13.29 per bushel.\u00a0<\/span><\/p>\n

That topped the previous record set in 2008.\u00a0<\/span><\/p>\n

Agricultural experts say the world lost 30% of its wheat export capacity due to Russia\u2019s invasion of Ukraine.<\/span><\/p>\n

January Trade Deficit Hits Record<\/strong><\/h2>\n

The U.S. trade deficit surged 9.4% in January to $89.7 billion.\u00a0<\/span><\/p>\n

That was up $7.7 billion compared to December and higher than expectations for $87.3 billion.<\/span><\/p>\n

The increase came as imports rose 1.2% to $314.1 billion while exports fell 1.7% to $224.4 billion.<\/span><\/p>\n

The trade deficit was up 37.7% compared to January 2021.<\/span><\/p>\n

Tech Stocks Fall into Bear Market<\/strong><\/h2>\n

The <\/span>Nasdaq <\/b>officially closed in bear market territory Monday, falling 20.1% from its November 19 record high.<\/span><\/p>\n

It\u2019s the largest drop for the tech-heavy index since the beginning of the pandemic.<\/span><\/p>\n

High-growth tech stocks have been pummeled this year, with Cathie Wood\u2019s <\/span>Ark Innovation ETF <\/a>(ARKK)<\/a> down nearly 39% YTD.<\/span><\/p>\n

And many large-cap tech stocks are in bear markets of their own.<\/span><\/p>\n

Tesla <\/b>(TSLA) shares are down 29% from their last record, <\/span>Amazon <\/b>(AMZN) shares have pulled back 25% from their peak, <\/span>Nvidia <\/b>(NVDA) shares are off 35%, and <\/span>Meta Platforms <\/b>(FB) shares have plunged 46%.\u00a0<\/span><\/p>\n

Apple Hosts Launch Event Today<\/strong><\/h2>\n

Apple <\/b>(AAPL) shares are down 0.1% in premarket trade as the iPhone maker is set to host a launch event today.\u00a0<\/span><\/p>\n

The tech giant is expected to unveil new lower cost iPhone and iPad models during today\u2019s event.<\/span><\/p>\n

It is being live streamed from the company\u2019s headquarters in Cupertino, CA at 10:00 a.m. PST.<\/span><\/p>\n

The company is also expected to announce the release date for its iOS 15.4 update at today\u2019s event.<\/span><\/p>\n

Google Confirms Mandiant Acquisition<\/strong><\/h2>\n

Mandiant <\/b>(MNDT) shares are down 3.1% after Google parent <\/span>Alphabet <\/b>(GOOGL) confirmed it will buy the cybersecurity firm.\u00a0<\/span><\/p>\n

The company\u2019s shares surged more than 20% in the final 20 minutes of trade Monday following a report on that possibility, closing 16.1% higher.<\/span><\/p>\n

Google plans to pay $23 per share for Mandiant, making the deal worth $5.4 billion.<\/span><\/p>\n

The acquisition is expected to close later this year.<\/span><\/p>\n

This is part of Google\u2019s efforts to expand its cloud computing division to compete with <\/span>Microsoft\u2019s <\/b>(MSFT) Azure and <\/span>Amazon <\/b>(AMZN) Web Services.<\/span><\/p>\n

In Case You Missed It<\/span><\/h2>\n
    \n
  • New York City lifted most of its Covid restrictions Monday as officials shift toward an endemic stage. The city will no longer require vaccinations for indoor activities, including dining in restaurants. The mask mandate was also lifted for NYC schools.<\/span><\/li>\n
  • Bed Bath & Beyond <\/b>(BBBY) shares surged 34.2% Monday after it was revealed <\/span>GameStop <\/b>(GME) chairman Ryan Cohen has a nearly 10% stake in the retailer. Through his investment firm, RC Ventures, Cohen sent a letter to Bed Bath\u2019s board over the weekend, detailing his suggestions for restructuring. Those included a spinoff of the Buy Buy Baby stores and selling Bed Bath. The board responded saying it is considering his recommendations.<\/span><\/li>\n<\/ul>\n

     <\/p>\n","protected":false},"excerpt":{"rendered":"

    Editor’s Note: Coffee With Greta is a FREE morning update from our newest contributor Greta Wall. Want to get it by email every day? Click here. ******** DJIA Futures: +51 (+0.2%) SPX Futures:\u00a0+6 (+0.2%) NASDAQ Futures: -15 (-0.1%) Good morning friends! Futures are mixed as oil prices continue to spike and U.S. gas prices hit a new record high. Let\u2019s get right to it! U.S. to Ban Russian Oil\u00a0 Oil prices are still rising after Bloomberg reported the U.S. is preparing to ban Russian oil imports. West Texas Intermediate crude futures are up 3.4% to $123.51 per barrel with Brent crude futures rising 3.9% to $127.96 per barrel.\u00a0 The Biden administration is expected to announce that oil ban today which would also include Russian liquefied natural gas and coal. President Biden is scheduled to speak at 10:45 a.m. ET. U.S. gas prices set a new all-time record today with AAA reporting the national average rose to $4.173 per gallon for regular.\u00a0 The previous record was $4.114 in July 2008. U.S. gas prices have risen 55 cents in the past week and 72 cents compared to a month ago. Wheat Prices Hit All-Time Record Wheat futures trading was halted for the seventh consecutive session as prices hit limit-up at $13.29 per bushel.\u00a0 That topped the previous record set in 2008.\u00a0 Agricultural experts say the world lost 30% of its wheat export capacity due to Russia\u2019s invasion of Ukraine. January Trade Deficit Hits Record The U.S. trade deficit surged 9.4% in January to $89.7 billion.\u00a0 That was up $7.7 billion compared to December and higher than expectations for $87.3 billion. The increase came as imports rose 1.2% to $314.1 billion while exports fell 1.7% to $224.4 billion. The trade deficit was up 37.7% compared to January 2021. Tech Stocks Fall into Bear Market The Nasdaq officially closed in bear market territory Monday, falling 20.1% from its November 19 record high. It\u2019s the largest drop for the tech-heavy index since the beginning of the pandemic. High-growth tech stocks have been pummeled this year, with Cathie Wood\u2019s Ark Innovation ETF (ARKK) down nearly 39% YTD. And many large-cap tech stocks are in bear markets of their own. Tesla (TSLA) shares are down 29% from their last record, Amazon (AMZN) shares have pulled back 25% from their peak, Nvidia (NVDA) shares are off 35%, and Meta Platforms (FB) shares have plunged 46%.\u00a0 Apple Hosts Launch Event Today Apple (AAPL) shares are down 0.1% in premarket trade as the iPhone maker is set to host a launch event today.\u00a0 The tech giant is expected to unveil new lower cost iPhone and iPad models during today\u2019s event. It is being live streamed from the company\u2019s headquarters in Cupertino, CA at 10:00 a.m. PST. The company is also expected to announce the release date for its iOS 15.4 update at today\u2019s event. Google Confirms Mandiant Acquisition Mandiant (MNDT) shares are down 3.1% after Google parent Alphabet (GOOGL) confirmed it will buy the cybersecurity firm.\u00a0 The company\u2019s shares surged more than 20% in the final 20 minutes of trade Monday following a report on that possibility, closing 16.1% higher. Google plans to pay $23 per share for Mandiant, making the deal worth $5.4 billion. The acquisition is expected to close later this year. This is part of Google\u2019s efforts to expand its cloud computing division to compete with Microsoft\u2019s (MSFT) Azure and Amazon (AMZN) Web Services. In Case You Missed It New York City lifted most of its Covid restrictions Monday as officials shift toward an endemic stage. The city will no longer require vaccinations for indoor activities, including dining in restaurants. The mask mandate was also lifted for NYC schools. Bed Bath & Beyond (BBBY) shares surged 34.2% Monday after it was revealed GameStop (GME) chairman Ryan Cohen has a nearly 10% stake in the retailer. Through his investment firm, RC Ventures, Cohen sent a letter to Bed Bath\u2019s board over the weekend, detailing his suggestions for restructuring. Those included a spinoff of the Buy Buy Baby stores and selling Bed Bath. The board responded saying it is considering his recommendations.  <\/p>\n","protected":false},"author":41,"featured_media":60256,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[739],"tags":[],"class_list":["post-60254","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-coffee-with-greta"],"_links":{"self":[{"href":"https:\/\/blog.t3live.com\/wp-json\/wp\/v2\/posts\/60254","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/blog.t3live.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/blog.t3live.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/blog.t3live.com\/wp-json\/wp\/v2\/users\/41"}],"replies":[{"embeddable":true,"href":"https:\/\/blog.t3live.com\/wp-json\/wp\/v2\/comments?post=60254"}],"version-history":[{"count":4,"href":"https:\/\/blog.t3live.com\/wp-json\/wp\/v2\/posts\/60254\/revisions"}],"predecessor-version":[{"id":60259,"href":"https:\/\/blog.t3live.com\/wp-json\/wp\/v2\/posts\/60254\/revisions\/60259"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/blog.t3live.com\/wp-json\/wp\/v2\/media\/60256"}],"wp:attachment":[{"href":"https:\/\/blog.t3live.com\/wp-json\/wp\/v2\/media?parent=60254"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/blog.t3live.com\/wp-json\/wp\/v2\/categories?post=60254"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/blog.t3live.com\/wp-json\/wp\/v2\/tags?post=60254"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}