OPEC can’t agree on the production-cut deal. US crude remains steady at $75 but downside risks prevail.

Rising oil prices could soon weigh on S&P500 valuations, though the earnings growth has been encouraging recently, pulling the S&P500 forward PE ratio lower according to the latest JP Morgan Guide: https://am.jpmorgan.com/content/dam/jpm-am-aem/global/en/insights/market-insights/guide-to-the-markets/mi-guide-to-the-markets-us.pdf

Nasdaq renews record as space investing comes in focus with SpaceX and Virgin Galactic’s projects.

Finally, Didi is in trouble after getting its app kicked off the app stores in China on government demand, ouch!

Crude oil pushes higher on OPEC+ indecision to rise oil supply. In this episode, we discuss, what’s the upside potential in the actual oil rally in case of no action, and what are the major risks.

On the data front, the US jobs data will be under close watch as the major US indices flirt with all-time high levels.

On corporate news, Nio released an exciting deliveries report, and investors are curious about how well Tesla did in the second quarter.

On cryptocurrencies, Elon Musk’s latest Doge tweets didn’t boost appetite and Bitcoin remains stuck within the $30/35k range, with a rising risk of a slide below the $30K mark.

Strong US ADP report boosted the Dow Jones, while Nasdaq ended Wednesday’s session slightly lower. Roku rallied 3%, as Didi, the Chinese Uber made a solid debut in New York Stock Exchange.

Today, all eyes are on the OPEC+ decision which could either send the price of US crude to $70/72 area, or above the $75 resistance. What will OPEC do faced with rising Covid cases?

Nasdaq renewed record as Facebook rallied to a fresh high after the dismissal of antitrust probes against the tech giant.

Tesla remained capped at $700, Nio is preparing to test the $50 offers.

Demand in gold remains poor, as investors continue buying better yielding stocks.

Big US banks on the other hand increase dividends and buybacks following the Fed’s stress test.

Joe Biden’s tentative infrastructure deal sent US stocks to record highs. Tesla advanced, while meme carmakers eased from Wednesday highs.

Marin Software and Wish were among the most traded stocks in the US.

Elsewhere, US big banks passed the Fed’s stress test and are now free to increase dividends and share buybacks. BP, on the other hand, was downgraded to hold at HSBC on persistent investor pessimism.

On the cryptocurrency front, investors will hold their breath during the weekend, as the rebound following this week’s plunge below $30K hasn’t been strong enough to rule out another dive. And the coin will lack institutional support during weekend trading.

Tesla rallies on first rank on cars.com American-Made index. Other electric carmakers gain, as well, on E&Y report that EV cars will outpace gas-powered cars by 2033, five years earlier than their previous prediction.

Amazon Prime Day sales are strong, but not surprisingly strong.

Major US indices are flat as investors await the Q1 GDP print.

In UK, the BoE will likely maintain the status quo, yet Cable has potential to make a return above 1.40 even with a neutral BoE stance.

Bitcoin selloff remained limited near the $30K. What will take Bitcoin to shake off the bearishness?

Amazon Prime Day sales could be shadowed by supply shortages and slow logistics, but investors keep buying US big techs; Microsoft saw its market cap shot above $2 trillion on Tuesday.

Speaking of slow logistics, have a look at shipping companies, they’re doing just great.

Wish, on the other hand, has the Reddit push. Is Wish a buy?

Post-Fed moodiness is rapidly brushed away, as the Fed Chair Jerome Powell will only say sweet things about the Fed supportive plans in his congressional testimony today.

Bitcoin held ground near the $30K support at the latest sell-off. But the death cross formation hints at a mounting urge to sell the coin in expectation of a further fall. We discuss how seriously the $30K support is threatened.

On the company news, Lordstown is losing market confidence as the company holds a five-day media event this week. What are investors looking for, and who prudent is to buy or to sell the stock.

Finally, Plug Power will release Q1 earnings and a smaller loss per share could boost the stock price as the sustainability and clean energy remain the most popular investing themes of the moment.