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July 6th - Oil prices fell as OPEC+ decided to increase production again. Following an online meeting on Sunday, the organization announced it would increase production by approximately 188,000 barrels per day in August, marking the fifth consecutive month of increases. However, analysts at ANZ Bank Research stated in a report, "Even if the Strait of Hormuz reopens, member countries may find it difficult to utilize this additional capacity due to ongoing risks to vessels." The analysts noted, "Over the weekend, several vessels attempting to transit the Strait of Hormuz along the Oman route were observed suddenly turning back."According to the Wall Street Journal, NASA Administrator Jared Isaacman flew a vintage fighter jet to the Washington Air Show despite objections from the Federal Aviation Administration (FAA). Isaacman had invited White House officials, including Treasury Secretary Bessenter, White House Deputy Chief of Staff Dan Scavino, and Trump senior advisor Chris Lacivita, to ride with him, but these arrangements were ultimately canceled.Key Events and Data Preview for This Week – Fed Meeting Minutes; Chinas June CPI and June Foreign Exchange Reserves; SK Hynix ADR Makes its US Stock Market Debut 1. Monday: ① Data: Switzerlands June seasonally adjusted unemployment rate; Eurozones July Sentix Investor Confidence Index, Eurozones May PPI (MoM), Eurozones May Retail Sales (MoM); US June S&P Global Services PMI (Final), US June ISM Non-Manufacturing PMI, US June Global Supply Chain Stress Index. ② Events: Speeches by Fed Governor Waller, ECB Executive Board Member Schnabel, ECB Governing Council Member Winsch, and Swedish Central Bank Deputy Governor Seim. 2. Tuesday: ① Data: Germanys May seasonally adjusted industrial production (MoM); UKs June Halifax seasonally adjusted house price index (MoM); Frances May trade balance; US ADP employment change for the week ending June 20, US May trade balance; Chinas June foreign exchange reserves. ② Events: Turkey hosts the NATO summit until July 8; the Office of the United States Trade Representative holds a public hearing to consider a proposal to impose additional tariffs on 60 economies worldwide. 3. Wednesday: ① Data: US API crude oil inventories for the week ending July 3; Japans May trade balance; New Zealands Reserve Bank of New Zealand interest rate decision for July 8; US May wholesale sales month-on-month rate; US EIA crude oil inventories for the week ending July 3; US EIA Cushing, Oklahoma crude oil inventories for the week ending July 3; US EIA Strategic Petroleum Reserve inventories for the week ending July 3. ② Events: EIA releases its monthly Short-Term Energy Outlook report; Reserve Bank of New Zealand Governor Brehman holds a monetary policy press conference. 4. Thursday: ① Data: US 10-year Treasury auction (ending July 8) - winning yield, US 10-year Treasury auction (ending July 8) - bid-to-cover ratio; Chinas June CPI year-on-year rate; Germanys May seasonally adjusted trade balance; US initial jobless claims for the week ending July 4; US June existing home sales (annualized); US EIA natural gas storage for the week ending July 3. ② Events: Federal Reserve releases monetary policy meeting minutes; European Central Bank releases June monetary policy meeting minutes; FOMC permanent voting member and New York Fed President Williams speaks. 5. Friday: ① Data: Germanys final June CPI month-on-month rate; Frances final June CPI month-on-month rate; Switzerlands June consumer confidence index; Canadas June employment change; Chinas June M2 money supply year-on-year rate. ② Events: SK Hynixs American Depositary Receipts (ADRs) are tentatively scheduled to list on Nasdaq on July 10; 2026 FOMC voting member and Dallas Fed President Logan speaks; IEA releases monthly oil market report. ③ Holiday: The New Zealand Stock Exchange is closed for one day. 6. Saturday: ① Data: Total number of oil rigs in the United States for the week ending July 10.An advisor to the Ukrainian Interior Minister stated that approximately 15 explosions occurred in Kyiv within 10 minutes. Air raid sirens are still in effect. There is a possibility of cruise missile and further ballistic missile attacks.On July 6, Israeli Prime Minister Benjamin Netanyahu stated on July 5 that he will continue to oppose Irans nuclear program regardless of whether the United States and Iran reach an agreement. He said that in order to defend Israels fundamental interests, the Israeli government will never allow Iran to acquire nuclear weapons.

HP Surges to A Record 14.8 Percent on Buffett's Disclosure of A $4.2 Billion Investment

Charlie Brooks

Apr 08, 2022 10:00

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HP shares finished at $40.06, up $5.15, or 14.8 percent, from an earlier high of $41.46.


Stock prices often jump when Berkshire reveals new investments, which is seen as a seal of approval from Buffett.


Berkshire does not invest in technological businesses on a regular basis, despite holding a $161.2 billion position in Apple Inc. at the end of 2021. (NASDAQ:AAPL). Buffett views Apple as a more consumer-oriented firm.


"Berkshire Hathaway is a globally renowned investor, and we are pleased to welcome them as an investor," HP stated in a statement.


HP, which was spun out from the previous Hewlett-Packard in 2015, is benefitting from growing demand as more individuals work and educate themselves from home.


The Palo Alto, California-based corporation agreed to acquire Poly, formerly known as Plantronics (NYSE:POLY), for $1.7 billion last month.


Buffett has struggled to invest Berkshire Hathaway's capital, which reached $146.7 billion at the conclusion of the fiscal year, citing high valuations and competition from private equity and other investors.


However, the Omaha, Nebraska-based conglomerate said last month that it had committed nearly $22 billion to significant new investments.


These acquisitions include a 14.6 percent interest in Occidental Petroleum Corp (NYSE:OXY) and a $11.6 billion acquisition of insurer Alleghany (NYSE:Y) Corp, Berkshire's biggest since 2016.


Additionally, Berkshire owns a number of enterprises, including Geico car insurance and the BNSF railroad.


It did not reply to demands for comment immediately.


HP may appeal to Berkshire, according to Morningstar analyst Mark Cash, because the company is aggressively returning capital to shareholders through stock buybacks and increased dividends.


"HP plays in areas where (durably) accelerating growth is difficult, so concentrating on margins and returns is the best approach to reward shareholders," Cash said. "Within technology, HP is a bargain play."


In 2021, Berkshire Hathaway repurchased $27 billion of its own shares.



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