In today's show, the US government declared a state of emergency on Sunday after the largest fuel pipeline was hit by a ransomware cyber-attack. Futures contracts held steady at the start of the overnight session Sunday evening, suggesting that the major U.S. equity indexes could trade at or near records when regular trading opens in New York after the attack.
The Colonial Pipeline carries 2.5 million barrels a day - 45% of the East Coast's supply of fuel. It was knocked offline by a cyber-criminal gang on Friday and is still working to restore service. The emergency status enables fuel to be transported by road.
Fuel prices are likely to rise 2-3% on Monday, but the impact will be far worse if it goes on longer. Multiple sources have confirmed that the ransomware attack was caused by a cyber-criminal gang called DarkSide, who infiltrated Colonial's network on Thursday and took almost 100GB of data hostage. After seizing the data, the hackers locked the data on some computers and servers, demanding a ransom on Friday. If it is not paid, they are threatening to leak it onto the internet.
Dogecoin loses a third of the price after Elon Musk calls it a 'hustle' on 'SNL'. Dogecoin was quoted as low as $0.416 on the crypto exchange Binance, down 36% from levels around $0.65 before the show. It retraced some of that move later on Sunday and was last trading around $0.569.
Though the first-quarter earnings season is ending, a handful of major companies will be reporting results this week, including some public names like Airbnb (ABNB), Roblox (RBLX), and Bumble (BMBL). The Commerce Department's retail sales report is also set for release, offering another update on the strength of consumer spending during the economic recovery. Disney (DIS) will be one of the major index components reporting results this week. Different areas of the entertainment giant's business have been helped or harmed by social distancing standards stemming from the pandemic: While the company's Disney+ streaming service has flourished, its larger and more lucrative parks, entertainment, and experiences business have floundered.
Earnings calendar
Monday: Marriott International (MAR), Coty Inc (COTY), Duke Energy (DUK), Tyson Foods (TSN), Workhorse Group (WKHS) before market open; Roblox (RBLX), Nuance Communications (NUAN), Occidental Petroleum (OXY), Affirm Holdings (AFRM), Novavax (NVAX), The Real Real (REAL), SmileDirectClub (SDC), Virgin Galactic Holdings (SPCE) after market close
Tuesday: Palantir (PLTR) before market open; Lemonade (LMND), Chesapeake Energy (CHK), FuboTV (FUBO), Opendoor Technologies (OPEN), Electronic Arts (EA) after market close
Wednesday: Compass Inc. (COMP), Bumble (BMBL), Sonos (SONO), Vroom Inc (VRM), ThredUp Inc (TDUP), Green Thumb Industries (GTII); Poshmark (POSH), Wish (WISH) after market close
Thursday: Alibaba (BABA), Yeti Holdings (YETI) before market open; Coinbase (COIN), DoorDash (DASH), Disney (DIS), Airbnb (ABNB), Blink Charging Co (BLNK) after market close
$ARKX $XOM $TSLA $AAL $BNGO $MARA $O $CRWD $FB $AAPL $FCEL $MGM $GOOGL $EZGO $SHOP $MTCH $DIS $PDD $ $TWTR $AMZN $EBET $PLTR $BFLY $ENZC $GM $ABNB $BUZZ $PTON $TDOC $DDD $U Bitcoin Ethereum, Stellar
Control the Cash balance today and position yourself accordingly. Let's GO!!!!!
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