Invesco DB Energy Fund (ARCA:DBE), Quote.Headers.trade-ideas

Basic Materials

The strategy of the Fund is, the Fund will be driven primarily by its strategy of trading Index Contracts with the aim of seeking to track the Index.

Invesco Government & Agency Portfolio, Institutional Class

Invesco Treasury Collateral ETF

Invesco DB Energy Fund

News

Small Cap

$BTC

$ETH

AAPL

DWAC

iPath Dow Jones UBS Nickel Subindex Total Return ETN

JJNTF

PARA

PTON

TSLA

TWTR

Morning Brief: Top Financial Stories Dominating on Tuesday, June 7

London Metal Exchange faces its second lawsuit in a week for $15.3 million from U.S.-based Jane Street Global Trading, following the cancellation of nickel trades in March, 

Jane Street Global Sues London Metal Exchange Related For Canceled Nickel Trades: Reuters

Penny Stocks

AXON

DIDI

DSKYF

GOOG

GOOGL

JUSHI HLDGS INC CL B by Jushi Holdings Inc.

JUSHF

SBUX

Morning Brief: Top Financial Stories Dominating on Monday, June 6

Xtrackers MSCI EAFE Hedged Equity ETF

Litman Gregory Funds Trust iMGP DBi Hedge Strategy ETF

Xtrackers MSCI Emerging Markets Hedged Equity ETF

Xtrackers MSCI Europe Hedged Equity ETF

Xtrackers MSCI Eurozone Hedged Equity ETF

Reuters
<a class="editor-rtfLink" href="https://www.benzinga.com/general/entertainment/22/06/27582322/paramount-pictures-sued-over-copyright-infringement-on-top-gun-maverick-new-york-post" style="color:#4a6ee0; background:transparent; margin-top:0pt; margin-bottom:0pt" target="_blank">Paramount Sued Over&rsquo; Top Gun: Maverick&rsquo; For Copyright Infringement</a>
<ul>
<li>The heirs of author Ehud Yonay, whose article inspired Tom Cruise&rsquo;s &ldquo;Top Gun&rdquo; movie, have sued production company Paramount Global (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/para#NASDAQ">PARA</a>) Paramount Pictures over copyright infringement.</li>
<li>A complaint filed in Los Angeles federal court stated that Paramount did not reacquire rights to Ehud&rsquo;s 1983 article Top Guns from his family before releasing the sequel.</li>
<li>The lawsuit was filed by Ehud&rsquo;s widow Shosh Yonay and son Yuval Yonay, who said Paramount deliberately infringed federal copyright law.</li>
</ul>
<a class="editor-rtfLink" href="https://www.benzinga.com/news/22/06/27582975/jane-street-global-sues-london-metal-exchange-related-for-canceled-nickel-trades-reuters" style="color:#4a6ee0; background:transparent; margin-top:0pt; margin-bottom:0pt" target="_blank">Jane Street Global Sues London Metal Exchange Related For Canceled Nickel Trades</a>
<ul>
<li>London Metal Exchange faces its second lawsuit in a week for $15.3 million from U.S.-based Jane Street Global Trading, following the cancellation of nickel trades in March.</li>
<li>A Jane Street representative stated that canceling nickel trades &ldquo;at a period of heightened volatility severely undermines the integrity of the markets and sets a dangerous precedent that calls future contracts into question.&rdquo;</li>
</ul>
<a class="editor-rtfLink" href="https://www.benzinga.com/government/22/06/27582485/michigan-expands-investigation-of-voting-systems-breach-by-trumps-supporters" style="color:#4a6ee0; background:transparent; margin-top:0pt; margin-bottom:0pt" target="_blank">Michigan Expands Investigation Of Voting Systems Breach By Trump&rsquo;s Supporters</a>
<ul>
<li>Supporters of former President Donald Trump tried to gain unauthorized access to voting equipment across Michigan, Reuters reported, citing state police documents.</li>
<li>The investigation has widened, and the Michigan state police have obtained warrants to seize voting equipment and records in three towns and one county, per Reuters.</li>
<li>The documents reveal several efforts by state authorities to secure voting machines, poll books, data-storage devices, and phone records as evidence in a probe launched in mid-February.</li>
</ul>
<a class="editor-rtfLink" href="https://www.benzinga.com/news/22/06/27582732/citi-aggressively-chases-growth-in-asia-especially-china-amid-odds" style="color:#4a6ee0; background:transparent; margin-top:0pt; margin-bottom:0pt" target="_blank">Citi Aggressively Chases Growth In Asia, Especially China Amid Odds</a>
<ul>
<li>In an interview with Reuters, Citigroup, Inc (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/c#NYSE">C</a>) Asia chief shared plans to appoint 3,000 new employees for its Asia institutional business in the next few years.</li>
<li>Asia became a battlefield for global banks chasing its vast economies, growing wealth, and relative growth beat most other places.</li>
<li>Peter Babej saw the accumulated wealth grow significantly in China despite macroeconomic headwinds, growth policy uncertainties, and COVID control measures.</li>
</ul>
<a class="editor-rtfLink" href="https://www.benzinga.com/markets/cryptocurrency/22/06/27580022/binance-denies-money-laundering-allegations-publishes-email-exchange-with-reuters" style="color:#4a6ee0; background:transparent; margin-top:0pt; margin-bottom:0pt" target="_blank">&lsquo;Rife With Falsehoods:&rsquo; Binance Slams Reuters Report On Money Laundering Allegations</a>
<ul>
<li>Binance, the world&rsquo;s largest cryptocurrency exchange, has denied the allegations from a Monday Reuters report stating that $2.4 billion in stolen crypto was laundered through its platform.</li>
<li>In a blog titled &ldquo;The Crypto Money Laundering Myth and the Machine Working Overtime to Sell a False Narrative,&rdquo; Binance called the Reuters report &ldquo;rife with falsehoods&rdquo; which relied on massive leaps to conclusions and poor data.</li>
<li>&ldquo;We highly suggest you ignore those authors and pundits who cherry-pick data, rely on conveniently unverifiable &lsquo;leaks&rsquo; from regulators, and feed into the cult of crypto paranoia for fame or financial gain. Instead, just look at the facts,&rdquo; stated Binance in the blog.</li>
</ul>

Wall Street Journal
<a class="editor-rtfLink" href="https://www.benzinga.com/government/22/06/27583714/sec-looks-to-share-stocks-markets-latest-rules-to-ensure-more-transparent-operations-since-gamestops" style="color:#4a6ee0; background:transparent; margin-top:0pt; margin-bottom:0pt" target="_blank">After Meme Stock Frenzy, SEC About To Change Stock Market&rsquo;s Rules To Ensure More Transparent Operations</a>
<ul>
<li>The SEC looks to propose significant changes to the stock market&rsquo;s mode of operation by this fall, the Wall Street Journal reports.</li>
<li>The SEC initiated its review of the market structure after frenzied trading in GameStop Corp (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/gme#NYSE">GME</a>) and other meme stocks in early 2021, triggering scrutiny in handling individual investors&rsquo; trades.</li>
<li>The SEC weighed creating a more rigid version of the so-called best-execution rule, allowing stock exchanges to quote shares in less than $0.01 increments and reducing the maximum fee that exchanges can charge brokers to access their quotes.</li>
</ul>
<a class="editor-rtfLink" href="https://www.benzinga.com/general/biotech/22/06/27580877/j-j-serves-notice-to-emergent-for-terminating-covid-shot-contract-as-two-accuse-each-other-of-bre" style="color:#4a6ee0; background:transparent; margin-top:0pt; margin-bottom:0pt" target="_blank">J&amp;J Serves Notice To Emergent For Terminating COVID-19 Shot Contract As Two Accuse Each Other Of Breach Of Agreement</a>
<ul>
<li>Johnson &amp; Johnson (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/jnj#NYSE">JNJ</a>) has made another move towards severing its Covid-19 vaccine manufacturing ties with contract manufacturer Emergent Biosolutions, Inc. (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/ebs#NYSE">EBS</a>).</li>
<li>J&amp;J has served a formal notice of termination and breach to Gaithersburg, Maryland-based Emergent, the former said in a statement, according to the Wall Street Journal.</li>
<li>The disclosure from the U.S. pharma giant came close on the heels of Emergent&rsquo;s announcement that it has provided the company a notice of material breach of the agreement by deciding not to purchase the required minimum quantity of the shot as agreed upon. Emergent said J&amp;J owes it about $125 million to $420 million if the agreement were to be terminated.</li>
</ul>

Bloomberg
<a class="editor-rtfLink" href="https://www.benzinga.com/markets/cryptocurrency/22/06/27579705/sec-probes-binance-over-unregistered-securities-offering-report" style="color:#4a6ee0; background:transparent; margin-top:0pt; margin-bottom:0pt" target="_blank">Binance Under SEC Probe Over Unregistered Securities Offering: Report</a>
<ul>
<li>The U.S. Securities and Exchange Commission (SEC) is looking into whether the world&rsquo;s largest cryptocurrency exchange issued unlicensed securities by way of an Initial Coin Offering (ICO) in 2017.</li>
<li>According to a Monday report from Bloomberg, confidential sources revealed that the SEC was investigating Binance for the issuance of its cryptocurrency token Binance Coin BNB/USD.</li>
<li>BNB currently has a market cap of $46 billion, making it the third-largest cryptocurrency by market cap after Bitcoin BTC/USD and Ethereum ETH/USD, excluding stablecoins USDT and USDC.</li>
</ul>
<a class="editor-rtfLink" href="https://www.benzinga.com/news/22/06/27580344/us-warns-of-forceful-response-as-kim-jong-un-prepares-to-set-off-first-atomic-device" style="color:#4a6ee0; background:transparent; margin-top:0pt; margin-bottom:0pt" target="_blank">US Issues Stern Warning To Kim Jong-Un Over Nuclear Threat</a>
<ul>
<li>The Biden administration has warned North Korea of stronger action if it continues to conduct nuclear tests.</li>
<li>What Happened: According to Washington and a United Nations watchdog agency, Pyongyang is preparing to soon set off its first atomic device since 2017, Bloomberg reported.</li>
<li>U.S. Deputy Secretary of State Wendy Sherman, in Seoul on Tuesday, in a meeting with her South Korean counterpart, said, &ldquo;there would be a swift and forceful response to such a test.&rdquo;</li>
</ul>

Benzinga
<a class="editor-rtfLink" href="https://www.benzinga.com/news/22/06/27580235/apple-is-reinventing-carplay-heres-how-it-plans-to-integrate-vehicle-hardware-when-it-launches-in-ne" style="color:#4a6ee0; background:transparent; margin-top:0pt; margin-bottom:0pt" target="_blank">Apple Is Reinventing CarPlay: Here&rsquo;s How It Will Change Drivers&rsquo; Experience</a>
<ul>
<li>Apple Inc (NASDAQ: <a class="editor-rtfLink" href="https://www.benzinga.com/stock/aapl#NASDAQ" style="color:#4a6ee0; background:transparent; margin-top:0pt; margin-bottom:0pt" target="_blank">AAPL</a>) revealed on Monday it is making key changes to its CarPlay software that will significantly lift its capabilities, including accessing real-time vehicle-related features such as temperature control, speed, fuel level, and more.</li>
<li>The tech giant said it is reinventing the CarPlay offering and is in talks with at least 14 automakers, including Ford Motor Co (NYSE: <a class="editor-rtfLink" href="https://www.benzinga.com/stock/f#NYSE" style="color:#4a6ee0; background:transparent; margin-top:0pt; margin-bottom:0pt" target="_blank">F</a>) and Honda Motor Co (NYSE: <a class="editor-rtfLink" href="https://www.benzinga.com/stock/hmc#NYSE" style="color:#4a6ee0; background:transparent; margin-top:0pt; margin-bottom:0pt" target="_blank">HMC</a>) for the in-car integration.</li>
<li>The list did not name Tesla Inc (NASDAQ: <a class="editor-rtfLink" href="https://www.benzinga.com/stock/tsla#NASDAQ" style="color:#4a6ee0; background:transparent; margin-top:0pt; margin-bottom:0pt" target="_blank">TSLA</a>), as it has shown reluctance to adopt Apple technology for its electric vehicles in the past.</li>
</ul>
<a class="editor-rtfLink" href="https://www.benzinga.com/markets/cryptocurrency/22/06/27581075/crypto-liquidations-top-218m-in-the-last-24-hours" style="color:#4a6ee0; background:transparent; margin-top:0pt; margin-bottom:0pt" target="_blank">Crypto Liquidations Top $218M In A Day As Bitcoin Loses $30K Level Again</a>
<ul>
<li>More than 74,000 crypto traders saw liquidations worth $218.4 million over the last 24 hours.</li>
<li>Bitcoin BTC/USD, Ethereum ETH/USD, and Dogecoin DOGE/USD saw some momentary relief on Sunday evening before recording another sharp decline during the early hours of Monday morning.</li>
<li>ETH traders were the worst hit, seeing $76.46 million worth of liquidations over the last day, as per data from CoinGlass. The single largest liquidation order took place on crypto exchange OKX where the trader in question lost $2.32 million on an ETH-USDT perpetual swap.</li>
</ul>
<a class="editor-rtfLink" href="https://www.benzinga.com/m-a/22/06/27581280/kohls-enters-discussions-with-franchise-group-on-take-over-bid" style="color:#4a6ee0; background:transparent; margin-top:0pt; margin-bottom:0pt" target="_blank">Why Kohl&rsquo;s Shares Are Surging Today</a>
<ul>
<li>Kohl&rsquo;s Corp (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/kss#NYSE">KSS</a>) Board of Directors has entered into exclusive negotiations with Franchise Group Inc (NASDAQ: <a class="editor-rtfLink" href="https://www.benzinga.com/stock/frg#NASDAQ" style="color:#4a6ee0; background:transparent; margin-top:0pt; margin-bottom:0pt" target="_blank">FRG</a>) over the potential sale.</li>
<li>Franchise&rsquo;s bid of $60 per share constitutes a 42.5% premium to Kohl&rsquo;s closing price of $42.12 on June 6.</li>
<li>The discussion will go on for three weeks to allow the parties time to agree on binding documentation and for the Franchise Group to finalize financing arrangements.</li>
</ul>
<a class="editor-rtfLink" href="https://www.benzinga.com/news/22/06/27581923/peloton-interactive-appoints-liz-coddington-as-finance-head" style="color:#4a6ee0; background:transparent; margin-top:0pt; margin-bottom:0pt" target="_blank">Peloton Taps Ex-Amazon Executive Liz Coddington As CFO</a>
<ul>
<li>Peloton Interactive Inc (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/pton#NASDAQ">PTON</a>) has appointed Liz Coddington as the company&rsquo;s Chief Financial Officer, effective June 13, 2022.</li>
<li>She succeeds Jill Woodworth, who has decided to step down as Peloton&rsquo;s Chief Financial Officer after serving the company since 2018.</li>
</ul>
<a class="editor-rtfLink" href="https://www.benzinga.com/general/biotech/22/06/27580192/pfizer-to-indigenize-manufacturing-of-oral-covid-pill-with-120m-investment-in-michigan-plant" style="color:#4a6ee0; background:transparent; margin-top:0pt; margin-bottom:0pt" target="_blank">Pfizer To Boost Production Of Oral COVID-19 Pill With $120M Michigan Investment</a>
<ul>
<li>Pfizer, Inc. (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/pfe#NYSE">PFE</a>) is upping its commitment to manufacture its oral COVID-19 pill Paxlovid in the United States.</li>
<li>Pfizer will invest an incremental $120 million at its Kalamazoo, Michigan facility to augment production of Paxlovid, the pharma giant said in a statement late Monday.</li>
<li>The spending will be used for expanding the production of active pharmaceutical ingredients and registered starting materials used for the manufacture of nirmatrelvir, one of the two components of Paxlovid.</li>
</ul>
<a class="editor-rtfLink" href="https://www.benzinga.com/news/22/06/27580100/gene-munster-says-50-chances-elon-musk-twitter-deal-will-go-through-as-investors-vote-of-confidence" style="color:#4a6ee0; background:transparent; margin-top:0pt; margin-bottom:0pt" target="_blank">Chances Of Elon Musk Completing Twitter Deal Down To This Number, Says Munster</a>
<ul>
<li>Loup Ventures&rsquo; Gene Munster said on Monday he believes investor confidence in Tesla Inc (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/tsla#NASDAQ">TSLA</a>) CEO Elon Musk&rsquo;s bid to take-private Twitter Inc (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/twtr#NYSE">TWTR</a>) is diminishing.</li>
<li>The Tesla-bull and tech analyst lowered his expectation for the $44 billion deal to go through to 50% from a prior 70%.</li>
<li>&ldquo;The odds are going down,&rdquo; Munster said on CNBC&rsquo;s Fast Money.</li>
</ul>
<a class="editor-rtfLink" href="https://www.benzinga.com/news/22/06/27580304/nio-now-offers-to-sell-mobile-charger-not-just-rent-it-after-facing-backlash-over-lack-of-choice-ear" style="color:#4a6ee0; background:transparent; margin-top:0pt; margin-bottom:0pt" target="_blank">Nio Folds To Customer Protests On Selling Mobile EV Chargers</a>
<ul>
<li>U.S. listed Chinese electric vehicle maker Nio Inc (NYSE: <a class="editor-rtfLink" href="https://www.benzinga.com/stock/nio#NYSE" style="color:#4a6ee0; background:transparent; margin-top:0pt; margin-bottom:0pt" target="_blank">NIO</a>) on Monday walked back on its offer to only rent its mobile charger that can power other electric vehicles after facing backlash over the lack of choice to buy it instead, CnEVpost reported, citing the company.</li>
<li>Nio on Monday launched a mobile charger for home use that can power other vehicles or appliances, with only a rent option.</li>
<li>It sparked outrage among Nio owners who felt there should be an option to buy the device.</li>
</ul>
Photo via Wikimedia Commons

JJNC

London Metal Exchange faces its second lawsuit in a week for $15.3 million from U.S.-based Jane Street Global Trading, following the cancellation of nickel trades in March,&nbsp;<a class="editor-rtfLink" href="https://www.reuters.com/markets/commodities/jane-street-global-sues-lme-153-mln-cancelling-nickel-trades-2022-06-07/" style="color:#4a6ee0; background:transparent; margin-top:0pt; margin-bottom:0pt" target="_blank">reported Reuters</a>.
A Jane Street representative stated that canceling nickel trades &quot;at a period of heightened volatility severely undermines the integrity of the markets and sets a dangerous precedent that calls future contracts into question.&quot;
Related:&nbsp;<a class="editor-rtfLink" href="https://www.benzinga.com/news/22/06/27562046/elliott-management-files-a-lawsuit-against-london-metal-exchange-over-canceled-nickel-trades-wsj" style="color:#4a6ee0; background:transparent; margin-top:0pt; margin-bottom:0pt" target="_blank">Elliott Management Files Lawsuit Against London Metal Exchange Over Canceled Nickel Trades: WSJ</a>
In a statement, the Hong Kong bourse said that the allegation by the US quantitative fund and market maker was &quot;without merit, and the LME will vigorously contest it.&quot;

Reuters
<a class="editor-rtfLink" href="https://www.benzinga.com/news/22/06/27559930/australian-court-tells-google-to-pay-515-000-to-australian-politician-over-defamatory-youtube-videos" style="color:#4a6ee0; background:transparent; margin-top:0pt; margin-bottom:0pt" target="_blank">Google Ordered To Cough Up $500K For &lsquo;Relentless, Racist&rsquo; Campaign Against Australian Politician</a>
<ul>
<li>An Australian court has ordered Alphabet Inc (NASDAQ: <a class="editor-rtfLink" href="https://www.benzinga.com/stock/googl#NASDAQ" style="color:#4a6ee0; background:transparent; margin-top:0pt; margin-bottom:0pt" target="_blank">GOOGL</a>) (NASDAQ: <a class="editor-rtfLink" href="https://www.benzinga.com/stock/goog#NASDAQ" style="color:#4a6ee0; background:transparent; margin-top:0pt; margin-bottom:0pt" target="_blank">GOOG</a>) to pay AU$715,000 ($515,000) to a former lawmaker in defamation damages over two videos posted on its social media platform YouTube.</li>
<li>The Federal Court said the social media giant intentionally made money by hosting two videos on its platform that allegedly attacked the then-deputy premier of New South Wales, John Barilaro, and drove him out of politics.</li>
<li>According to a Reuters report, Judge Steven Rares said the videos hosted by YouTube amounted to a &ldquo;relentless, racist, vilificatory, abusive and defamatory campaign&rdquo; against Barilaro.</li>
</ul>
<a class="editor-rtfLink" href="https://www.benzinga.com/news/22/06/27561572/axon-enterprise-halts-work-on-taser-drone-development-project-reuters" style="color:#4a6ee0; background:transparent; margin-top:0pt; margin-bottom:0pt" target="_blank">Axon Enterprise Halts Work On TASER Drone Development Project: Reuters</a>
<ul>
<li>Axon Enterprise Inc (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/axon#NASDAQ">AXON</a>) on Sunday stated that it was pausing work on a project to equip drones with stun guns to tackle mass shootings, a prospect that a member of its AI ethics board told Reuters was prompting an exodus from the panel.</li>
<li>On Thursday, Axon announced the development of a non-lethal, remotely-operated TASER drone system as part of a long-term plan to stop mass shootings and reaffirmed it is committed to public engagement and dialogue during the development process.</li>
<li>&ldquo;In light of feedback, we are pausing work on this project and refocusing to further engage with key constituencies to fully explore the best path forward,&rdquo; stated AXON Chief Executive Rick Smith.</li>
</ul>

Wall Street Journal
<a class="editor-rtfLink" href="https://www.benzinga.com/news/22/06/27559830/starbucks-turns-to-external-candidates-to-fill-in-howard-schultzs-big-shoes-report" style="color:#4a6ee0; background:transparent; margin-top:0pt; margin-bottom:0pt" target="_blank">Starbucks Looks To Fill CEO Howard Schultz&rsquo;s Shoes With An Outsider</a>
<ul>
<li>Coffee chain retailer Starbucks Corporation (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/sbux#NASDAQ">SBUX</a>) is looking past internal candidates to replace founder Howard Schultz, who is holding the chief executive officer role on an interim basis.</li>
<li>What Happened: Seattle, Washington-based Starbucks is considering just external candidates for the CEO role as the coffee retailer looks to infuse fresh talent, fresh skills, and fresh thinking that could help a turnaround, Schultz reportedly said in an interview.</li>
</ul>
<a class="editor-rtfLink" href="https://www.benzinga.com/news/22/06/27562046/elliott-management-files-a-lawsuit-against-london-metal-exchange-over-canceled-nickel-trades-wsj" style="color:#4a6ee0; background:transparent; margin-top:0pt; margin-bottom:0pt" target="_blank">Elliott Management Files Lawsuit Against London Metal Exchange Over Canceled Nickel Trades</a>
<ul>
<li>Elliott Management Corp., an activist hedge fund manager, sued the London Metal Exchange for more than $456 million after the exchange paused nickel trading and invalidated some contracts to dramatic swings in the metal&rsquo;s price, reported WSJ.</li>
<li>The case adds to the LME&rsquo;s problems, which are also under investigation by British financial regulators.</li>
<li>Elliott is disputing the exchange&rsquo;s decision to delete trades it claims it made in the early hours of March 8.</li>
</ul>
<a class="editor-rtfLink" href="https://www.benzinga.com/government/22/06/27560144/heres-why-didi-and-these-two-chinese-stocks-are-trading-higher-today" style="color:#4a6ee0; background:transparent; margin-top:0pt; margin-bottom:0pt" target="_blank">Here&rsquo;s Why DiDi, And These Two Chinese Stocks Are Trading Higher Today</a>
<ul>
<li>China looks to conclude its yearlong regulatory probe on DiDi Global Inc (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/didi#NYSE">DIDI</a>) and two other U.S.-listed tech firms by as early as this week to lift a ban on their adding new users, the Wall Street Journal reports.</li>
<li>China&rsquo;s deteriorating economic outlook has pressured the company to ease its antitrust campaigns against the domestic tech giants.</li>
<li>The regulators also did not find any significant issues with the companies.</li>
</ul>

Financial Times
<a class="editor-rtfLink" href="https://www.benzinga.com/general/biotech/22/06/27561454/astrazeneca-daiichi-breast-cancer-drug-cuts-disease-progression-or-death-risk-by-almost-50" style="color:#4a6ee0; background:transparent; margin-top:0pt; margin-bottom:0pt" target="_blank">AstraZeneca-Daiichi Breast Cancer Drug Cuts Disease Progression Or Death Risk By Almost 50%</a>
<ul>
<li>AstraZeneca Plc (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/azn#NASDAQ">AZN</a>)and Daiichi Sankyo&rsquo;s (OTC: <a class="editor-rtfLink" href="https://www.benzinga.com/stock/dskyf#OTC" style="color:#4a6ee0; background:transparent; margin-top:0pt; margin-bottom:0pt" target="_blank">DSKYF</a>) Enhertu extended survival by more than six months in patients with a form of advanced breast cancer compared to standard chemotherapy.</li>
<li>Financial Times wrote &lsquo;oncologists are hopeful a drug developed by AstraZeneca and Daiichi Sankyo will change how doctors treat the most common type of late-stage breast cancer.&rdquo;</li>
<li>Detailed results from the DESTINY-Breast04 Phase 3 trial showed that Enhertu reduced the risk of disease progression or death versus chemotherapy by 49% in patients with HER2-low metastatic breast cancer with HR-positive disease.</li>
</ul>

Benzinga
<a class="editor-rtfLink" href="https://www.benzinga.com/markets/cryptocurrency/22/06/27559778/666m-ethereum-shorts-liquidated-on-sunday" style="color:#4a6ee0; background:transparent; margin-top:0pt; margin-bottom:0pt" target="_blank">$666M Ethereum Shorts Liquidated On Sunday</a>
<ul>
<li>The number of Ethereum ETH/USD shorts liquidated reached a three-year high on Sunday.</li>
<li>According to on-chain liquidation data from CoinGlass, there were $666 million ETH short positions liquidated over the last 24 hours. Meanwhile, ETH longs saw just $3.61 million worth of liquidations.</li>
<li>Liquidations occur when a trader has insufficient funds to keep a leveraged position open, leading the exchange to forcefully close the position after a loss of the trader&rsquo;s initial margin.</li>
</ul>
<a class="editor-rtfLink" href="https://www.benzinga.com/news/22/06/27559326/whatsapp-planning-double-verification-for-iphone-android-users-for-fraud-prevention" style="color:#4a6ee0; background:transparent; margin-top:0pt; margin-bottom:0pt" target="_blank">WhatsApp Plans Double Verification For iPhone, Android Users For Fraud Prevention</a>
<ul>
<li>WhatsApp, the instant messaging application from Meta Platforms Inc (NASDAQ: <a class="editor-rtfLink" href="https://www.benzinga.com/stock/fb#NASDAQ" style="color:#4a6ee0; background:transparent; margin-top:0pt; margin-bottom:0pt" target="_blank">FB</a>), is planning another layer of verification in order to deter fraud on smartphones running operating systems from Apple Inc (NASDAQ: <a class="editor-rtfLink" href="https://www.benzinga.com/stock/aapl#NASDAQ" style="color:#4a6ee0; background:transparent; margin-top:0pt; margin-bottom:0pt" target="_blank">AAPL</a>) and Alphabet Inc (NASDAQ: <a class="editor-rtfLink" href="https://www.benzinga.com/stock/googl#NASDAQ" style="color:#4a6ee0; background:transparent; margin-top:0pt; margin-bottom:0pt" target="_blank">GOOGL</a>) (NASDAQ: <a class="editor-rtfLink" href="https://www.benzinga.com/stock/goog#NASDAQ" style="color:#4a6ee0; background:transparent; margin-top:0pt; margin-bottom:0pt" target="_blank">GOOG</a>).</li>
<li>WhatsApp is working on a double verification code for iOS and Android that would add an extra layer of security before users can log on, according to a report from WABetaInfo, an independent portal that provides real-time updates on WhatsApp.</li>
<li>The under-development feature will kick in when a user tries to register their phone number to a different device. In such cases, they would be required to input an additional code apart from an SMS verification code.</li>
</ul>
<a class="editor-rtfLink" href="https://www.benzinga.com/general/biotech/22/06/27560939/fda-approves-gsks-measles-vaccine" style="color:#4a6ee0; background:transparent; margin-top:0pt; margin-bottom:0pt" target="_blank">FDA Approves GSK&rsquo;s Measles Vaccine</a>
<ul>
<li>The FDA has approved GSK Plc&rsquo;s (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/gsk#NYSE">GSK</a>) Priorix vaccine to prevent measles, mumps, and rubella (MMR) in those aged one year and above.</li>
<li>The vaccine can be given in two doses. It may also be administered as a second shot to previously vaccinated individuals with the first dose of another MMR-containing vaccine.</li>
<li>According to a government study released last month, child vaccination rates in the U.S. fell during the COVID-19 pandemic as many children skipped doctor appointments and states eased vaccine requirements during remote learning.</li>
</ul>
<a class="editor-rtfLink" href="https://www.benzinga.com/news/22/06/27559645/nio-amd-in-chip-supply-partnership-aimed-at-lifting-ai-deep-learning-training-product-development-cy" style="color:#4a6ee0; background:transparent; margin-top:0pt; margin-bottom:0pt" target="_blank">Nio Agrees To Chip Supply Partnership With AMD: What You Should Know</a>
<ul>
<li>Nio Inc (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/nio#NYSE">NIO</a>) and Advanced Micro Devices Inc (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/amd#NASDAQ">AMD</a>) have entered a chip supply partnership, CnEVpost reported on Monday, citing the chipmaker.</li>
<li>Shanghai-based Nio will reportedly use AMD&rsquo;s EPYC family of processors in its high-performance computing (HPC) platform.</li>
<li>The move is expected to lift the electric vehicle maker&rsquo;s AI deep learning training and shorten product development cycles.</li>
</ul>
<a class="editor-rtfLink" href="https://www.benzinga.com/markets/cannabis/22/06/27560382/exclusive-jushi-expands-in-nevada-with-new-cannabis-dispensary-in-las-vegas" style="color:#4a6ee0; background:transparent; margin-top:0pt; margin-bottom:0pt" target="_blank">EXCLUSIVE: Jushi Expands In Nevada With New Cannabis Dispensary In Las Vegas</a>
<ul>
<li>Vertically integrated cannabis company Jushi Holdings Inc. (OTC: <a class="editor-rtfLink" href="https://www.benzinga.com/stock/jushf#OTC" style="color:#4a6ee0; background:transparent; margin-top:0pt; margin-bottom:0pt" target="_blank">JUSHF</a>) is expanding its retail presence with the opening of its 33rd dispensary nationally and fourth dispensary in Nevada - NuLeaf Las Vegas The Strip.</li>
<li>Following the opening of the new store located at 1600 Las Vegas Blvd South, Suite 140, in Las Vegas, Jushi&rsquo;s operations in the Silver State will consist of three adult-use and medical dispensaries in Las Vegas, an adult-use and medical dispensary in Lake Tahoe, and approximately 47,000 sq. ft. of cultivation and manufacturing space.</li>
</ul>
<a class="editor-rtfLink" href="https://www.benzinga.com/news/22/06/27559163/how-many-of-musks-96-7m-twitter-followers-are-real" style="color:#4a6ee0; background:transparent; margin-top:0pt; margin-bottom:0pt" target="_blank">How Many Of Elon Musk&rsquo;s 96.7M Twitter Followers Are Real?</a>
<ul>
<li>Tesla Inc (NASDAQ: <a class="editor-rtfLink" href="https://www.benzinga.com/stock/tsla#NASDAQ" style="color:#4a6ee0; background:transparent; margin-top:0pt; margin-bottom:0pt" target="_blank">TSLA</a>) CEO Elon Musk&rsquo;s war on Twitter Inc (NYSE: <a class="editor-rtfLink" href="https://www.benzinga.com/stock/twtr#NYSE" style="color:#4a6ee0; background:transparent; margin-top:0pt; margin-bottom:0pt" target="_blank">TWTR</a>) bots is shaped by an extraordinary number of spam or autonomous agents that engage with him on the platform.</li>
<li>Nearly 70% of Musk&rsquo;s followers on Twitter are spam, fake or inactive, according to a Wall Street Journal report, which cited data from SparkToro LLC, a purveyor of audience-research software.</li>
<li>That compares with 41% for all other accounts that have between 65 million and 120 million followers, according to SparkToro.</li>
</ul>
<a class="editor-rtfLink" href="https://www.benzinga.com/news/22/06/27559492/russian-ministry-website-hacked-gov-says-users-data-protected" style="color:#4a6ee0; background:transparent; margin-top:0pt; margin-bottom:0pt" target="_blank">Russian Ministry Website Hacked With The Message &lsquo;Glory To Ukraine&rsquo;</a>
<ul>
<li>Amid the Russian invasion of Ukraine, the Russian Ministry of Construction, Housing and Utilities website was hacked with an internet search for the site leading to a sign-in page saying &ldquo;Glory to Ukraine.&rdquo;</li>
<li>According to Russia&rsquo;s state news agency RIA, a Russian ministry representative said that the site was down, but users&rsquo; personal data were protected.</li>
<li>The news report claimed that the hackers demanded ransom to prevent the public disclosure of users&rsquo; data.</li>
</ul>
<a class="editor-rtfLink" href="https://www.benzinga.com/markets/cryptocurrency/22/06/27558397/traders-who-predicted-bitcoin-crash-has-now-warnings-for-ethereum-investors" style="color:#4a6ee0; background:transparent; margin-top:0pt; margin-bottom:0pt" target="_blank">Trader Who Predicted Bitcoin Crash Now Has This Warning for Ethereum Investors</a>
<ul>
<li>Veteran trader and Factor Trading founder Peter Brandt, who sounded alarmed about the Bitcoin BTC/USD collapse in 2018, now has some stern warnings for Ethereum ETH/USD investors.</li>
<li>He recently pointed out that Ethereum is forming a descending triangle, a continuation pattern that suggests further downside risk for ETH.</li>
<li>&ldquo;ETH is a piece of c**p crypto. Transactionally cost-prohibitive and cumbersome. Those who tout new versions are still waiting for a re-build of the Hindenburg,&rdquo; he added.</li>
</ul>
<a class="editor-rtfLink" href="https://www.benzinga.com/analyst-ratings/analyst-color/22/06/27558398/apple-analyst-says-macbook-air-shipments-will-hit-6-7-million-units-in-2h22-provide" style="color:#4a6ee0; background:transparent; margin-top:0pt; margin-bottom:0pt" target="_blank">Apple Analyst Says MacBook Air Shipments Will Hit 6-7 Million Units In 2H22, But This Has To Happen First</a>
<ul>
<li>Apple, Inc. (NASDAQ: <a class="editor-rtfLink" href="https://www.benzinga.com/stock/aapl#NASDAQ" style="color:#4a6ee0; background:transparent; margin-top:0pt; margin-bottom:0pt" target="_blank">AAPL</a>) is scheduled to hold its Worldwide Developers Conference from June 6 to 10. The company is widely expected to unveil a new MacBook Air at the software-focused event.</li>
<li>Noted Apple analyst Ming-Chi Kuo from TFI International Securities said he expects Apple to announce a new MacBook Air in three standard color options, and probably one more new color. Rainbow-style colors offered in the iMac may not come to the new MacBook Pro, he added.</li>
<li>Kuo concurred with Bloomberg columnist Mark Gurman, who earlier reported the same.</li>
</ul>
Photo via Wikimedia Commons

Elliott Management Corp., an activist hedge fund manager, sued the London Metal Exchange for more than $456 million after the exchange paused nickel trading and invalidated some contracts to dramatic swings in the metal&#39;s price, reported WSJ.
The case adds to the LME&#39;s problems, which are also under investigation by British financial regulators.
What happened:&nbsp;Elliott is disputing the exchange&#39;s decision to delete trades it claims it made in the early hours of March 8.
Related:&nbsp;<a class="editor-rtfLink" href="https://www.benzinga.com/markets/commodities/22/03/26035977/russia-impact-london-metal-exchange-suspends-nickel-trading-after-250-price-spike" style="color:#4a6ee0; background:transparent; margin-top:0pt; margin-bottom:0pt" target="_blank">Russia Impact - London Metal Exchange Suspends Nickel Trading After 250% Price Spike</a>
&quot;The LME management is of the view that the claim is without merit, and the LME will contest it vigorously,&quot; stated Hong Kong Exchanges &amp; Clearing Ltd., which owns LME.
The hedge-fund firm, founded by billionaire Paul Singer, argues the metal exchange&#39;s action &quot;was unlawful on public law grounds and/or constituted a violation of the claimants&#39; human rights,&quot; HKEX said.
Elliott filed the case in the English High Court using two different entities: Elliott Associates LP and Elliott International LP. The claim is being pursued as a judicial review, a proceeding in which a judge determines the validity of a public body&#39;s decision or action.
Also read:&nbsp;<a class="editor-rtfLink" href="https://www.benzinga.com/news/22/03/26197923/nickel-hits-limit-down-again-on-london-metal-exchange-falls-12-cnbc" style="color:#4a6ee0; background:transparent; margin-top:0pt; margin-bottom:0pt" target="_blank">Nickel Hits Limit Down Again On London Metal Exchange, Falls 12%</a>

Elliott Management Files Lawsuit Against London Metal Exchange Over Canceled Nickel Trades: WSJ

<ul>
<li>The U.K.&rsquo;s Financial Conduct Authority and Prudential Regulation Authority (PRA), part of the Bank of England, to investigate the LME&rsquo;s approach to its suspension and resumption of the nickel market in the wake of a short squeeze that sent prices soaring and resulted in the cancellation of trades,&nbsp;<a class="editor-rtfLink" href="https://www.bloomberg.com/news/articles/2022-04-04/u-k-to-review-lme-operations-after-nickel-market-turmoil" style="color:#4a6ee0; background:transparent; margin-top:0pt; margin-bottom:0pt" target="_blank">reported Bloomberg</a>.</li>
<li>Related:&nbsp;<a class="editor-rtfLink" href="https://www.benzinga.com/news/22/03/26272208/nickel-turmoil-saga-continues-with-another-15-limit-up-spike-on-lme-bloomberg" style="color:#4a6ee0; background:transparent; margin-top:0pt; margin-bottom:0pt" target="_blank">Nickel Turmoil Saga Continues With Another 15% Limit-Up Spike On LME: Bloomberg</a></li>
<li>LME plans to start an independent review into the events that led to the suspension of trading in the nickel market. The FCA and PRA said a third party would review the situation once the market settled down.</li>
<li>Regulators will be engaging with traders caught up in last month&rsquo;s market chaos &ldquo;to assess the effectiveness of their risk management and governance during the period.&rdquo;</li>
<li>LME CEO Matthew Chamberlain and Adrian Farnham, boss of LME Clear, which oversees the settlement of trades,&nbsp;<a class="editor-rtfLink" href="https://uk.finance.yahoo.com/news/fca-bank-england-investigate-london-084118528.html" style="color:#4a6ee0; background:transparent; margin-top:0pt; margin-bottom:0pt" target="_blank">stated</a>, &ldquo;The events leading up to the suspension and resumption of Nickel trading were unprecedented. The LME fully recognizes the impact of these events on a broad spectrum of market participants and understands that not all participants agreed with the course of action undertaken. The LME sought to act in the interests of the market as a whole and acknowledges the concerns expressed by some market participants.&rdquo;</li>
<li>Also Read:&nbsp;<a class="editor-rtfLink" href="https://www.benzinga.com/markets/commodities/22/03/26364406/will-chaos-in-nickel-prices-disrupt-the-ev-boom" style="color:#4a6ee0; background:transparent; margin-top:0pt; margin-bottom:0pt" target="_blank">Will chaos in nickel prices disrupt the EV boom?</a></li>
</ul>

Commodities

Markets

LME Under Scrutiny By FCA And Bank Of England Over Recent Nickel Turmoil

It&rsquo;s been three weeks since nickel was suspended on the London Metal Exchange after a 250% price spike, and while trading has resumed, the market remains all but paralyzed,&nbsp;<a class="editor-rtfLink" href="https://www.bloomberg.com/news/articles/2022-03-29/from-vw-to-jpmorgan-the-unlikely-cast-behind-nickel-s-big-squeeze?sref=TBDibEcD" style="color:#4a6ee0; background:transparent; margin-top:0pt; margin-bottom:0pt" target="_blank">reported Bloomberg</a>.
Accusations have started to make rounds as the crisis worn-out. Investors are preparing lawsuits; the LME and its regulator, the Financial Conduct Authority, are likely to run investigations.
Related:&nbsp;<a class="editor-rtfLink" href="https://www.benzinga.com/news/22/03/26215875/new-week-new-limit-down-on-lme-benchmark-nickel-price-down-15-cnbc" style="color:#4a6ee0; background:transparent; margin-top:0pt; margin-bottom:0pt" target="_blank">New Week New Limit Down On LME, Benchmark Nickel Price Down 15%: CNBC</a>
When nickel rose rapidly after Russia invaded Ukraine, Tsingshan, the world&rsquo;s biggest nickel and stainless steel company, had built a giant short position in LME nickel in a bet that increasing supply from his company would drive down prices, struggled to pay its margin calls, setting the stage for a short squeeze.
At the center of the crisis is entrepreneur Xiang Guangda, owner of Tsingshan Holding Group Co. Xiang&rsquo;s position was unusually large, equivalent at its peak to roughly one in eight of all the contracts outstanding in the LME nickel contract.
Bloomberg notes Xiang held about 30,000 tons of his short position directly on the LME, less than a fifth of its total size of over 150,000 tons. The vast majority was held in bilateral derivative deals, known as &ldquo;over-the-counter&rdquo; positions, with banks led by&nbsp;JPMorgan Chase &amp; Co.&nbsp;(NYSE:&nbsp;<a class="editor-rtfLink" href="https://www.benzinga.com/stock/jpm#NYSE" style="color:#4a6ee0; background:transparent; margin-top:0pt; margin-bottom:0pt" target="_blank">JPM</a>), including&nbsp;BNP Paribas SA&nbsp;(OTC:&nbsp;<a class="editor-rtfLink" href="https://www.benzinga.com/stock/bnpqy#OTC" style="color:#4a6ee0; background:transparent; margin-top:0pt; margin-bottom:0pt" target="_blank">BNPQY</a>),&nbsp;Standard Chartered Plc&nbsp;(OTC:&nbsp;<a class="editor-rtfLink" href="https://www.benzinga.com/stock/scbff#OTC" style="color:#4a6ee0; background:transparent; margin-top:0pt; margin-bottom:0pt" target="_blank">SCBFF</a>), and&nbsp;United Overseas Bank Ltd&nbsp;(OTC:&nbsp;<a class="editor-rtfLink" href="https://www.benzinga.com/stock/uovey#OTC" style="color:#4a6ee0; background:transparent; margin-top:0pt; margin-bottom:0pt" target="_blank">UOVEY</a>).
JPMorgan&rsquo;s leading role means that the U.S. lender arguably had better insight into Tsingshan&rsquo;s market-roiling position than the LME did: about 50,000 tons of the short position was held via OTC bets with JPMorgan, Bloomberg has reported.
Related:&nbsp;<a class="editor-rtfLink" href="https://www.benzinga.com/news/22/03/26119137/jpmorgan-in-talks-with-tsingshan-to-contain-nickel-crisis-wsj" style="color:#4a6ee0; background:transparent; margin-top:0pt; margin-bottom:0pt" target="_blank">JPMorgan In Talks With Tsingshan To Contain Nickel Crisis: WSJ</a>
Bloomberg reported that several other Chinese firms amassed short positions as Xiang&rsquo;s allies.&nbsp;Volkswagen AG&nbsp;(OTC: <a class="ticker" href="https://www.benzinga.com/stock/vwagy#OTC">VWAGY</a>) has one of the largest long positions in the market, at the equivalent of over 100,000 tons, a person familiar with the matter stated.&nbsp;
Trader and miner&nbsp;Glencore Plc&nbsp;(OTC:&nbsp;<a class="editor-rtfLink" href="https://www.benzinga.com/stock/glncy#OTC" style="color:#4a6ee0; background:transparent; margin-top:0pt; margin-bottom:0pt" target="_blank">GLNCY</a>) is another sizeable long-position holder and has at times controlled more than half of the available inventories in LME warehouses.&nbsp;
A person familiar with the matter stated that Glencore&rsquo;s overall position in LME nickel is short &mdash; it uses the exchange to protect against price risk on the metal it ships worldwide. But it bought LME stocks to deliver the nickel from the exchange warehouses to its customers after a surge in freight costs made shipping metal from Asia to Europe and the U.S. much more expensive.
Investors have heavily criticized the 145-year-old home of global metals trading,&nbsp;The London Metal Exchange, for its response to the crisis. Since reopening two weeks ago, the nickel market has yet to reach an equilibrium.&nbsp;
&ldquo;Given our role in supervising the LME, we have been, and will continue to be, taking a very close interest in how it is managing and responding to the issues,&rdquo; the FCA said in a statement Tuesday.
Regulators have publicly admitted they&rsquo;re in the dark about commodity markets.
When the Bank of England&rsquo;s Financial Policy Committee met earlier in March, it was important to assess the potential contagion between commodity market volatility and the financial system more broadly. But, according to a published summary of the discussion, &ldquo;the assessment of risks was made more difficult by the relative opacity of commodity derivatives markets.&rdquo;

BNPQY

GLNCY

SCBFF

UOVEY

VWAGY

Who Is the Unlikely Cast Behind Nickel's Big Squeeze?: Bloomberg

<ul>
<li>Nickel surges by the 15% exchange limit for a second day at&nbsp;The London Metal Exchange, putting fresh pressure on bearish position holders after an unprecedented short squeeze earlier this month,&nbsp;<a class="editor-rtfLink" href="https://www.bloomberg.com/news/articles/2022-03-24/nickel-reignites-blistering-rally-as-prices-spike-by-15-limit?srnd=premium&amp;sref=TBDibEcD" style="background-image:initial; background-position:initial; background-size:initial; background-repeat:initial; background-attachment:initial; background-origin:initial; background-clip:initial; margin-top:0pt; margin-bottom:0pt; color:#4a6ee0" target="_blank">reported Bloomberg</a>.</li>
<li>Nickel is up 53% during March in LME after wild swings.</li>
<li>The report added that Nickel prices surged to $37,235 a ton in early trading on LME, leaving the market locked up again after a 15% jump on Wednesday.</li>
<li>Related:&nbsp;<a class="editor-rtfLink" href="https://www.benzinga.com/news/22/03/26254536/nickel-rises-on-lme-as-buyers-return-after-squeeze-bloomberg" style="background-image:initial; background-position:initial; background-size:initial; background-repeat:initial; background-attachment:initial; background-origin:initial; background-clip:initial; margin-top:0pt; margin-bottom:0pt; color:#4a6ee0" target="_blank">Nickel Rises On LME As Buyers Return After Squeeze</a></li>
<li>&quot;Ultimately, the short position is still out there, and they will have to close it out,&quot; the report quoted Michael Widmer, head of metals research at Bank of America Corp.</li>
<li>Nickel also surged to the maximum daily limit on the Shanghai Futures Exchange earlier, following the overnight gain in London.</li>
<li>Also Read:&nbsp;<a class="editor-rtfLink" href="https://www.benzinga.com/news/22/03/26215875/new-week-new-limit-down-on-lme-benchmark-nickel-price-down-15-cnbc" style="background-image:initial; background-position:initial; background-size:initial; background-repeat:initial; background-attachment:initial; background-origin:initial; background-clip:initial; margin-top:0pt; margin-bottom:0pt; color:#4a6ee0" target="_blank">New Week New Limit Down On LME, Benchmark Nickel Price Down 15%: CNBC</a></li>
</ul>

Media

Nickel Turmoil Saga Continues With Another 15% Limit-Up Spike On LME: Bloomberg

<ul>
<li>Nickel&nbsp;volumes surged as prices traded within the London Metal Exchange&rsquo;s daily limits for the first time since reopening last week,&nbsp;<a class="editor-rtfLink" href="https://www.bloomberg.com/news/articles/2022-03-23/nickel-rises-on-the-lme-as-market-continues-reset-after-squeeze?sref=TBDibEcD" style="background-image:initial; background-position:initial; background-size:initial; background-repeat:initial; background-attachment:initial; background-origin:initial; background-clip:initial; margin-top:0pt; margin-bottom:0pt; color:#4a6ee0" target="_blank">Bloomberg reported</a>.</li>
<li>Prices climbed to a high of $29,700 a ton and remained within a 15% intraday limit set by the bourse.</li>
<li>Nickel prices jumped 250% in early March touching a record $101,365 a ton amid a short squeeze focused on China&rsquo;s Tsingshan Holding Group Co.</li>
<li>China, the world&rsquo;s largest base metals producer, and consumer is hit by its worst coronavirus outbreak in two years.</li>
<li>The country&rsquo;s steelmaking hub of Tangshan faced the heat as lockdowns affected business.</li>
<li>The report added that by the close of trading on the LME, nickel fell 10% to settle at $28,159 a ton. Copper, aluminum, tin and zinc slipped in London, while lead advanced.</li>
<li>Photo via Wikimedia Commons</li>
</ul>

General

Nickel Rises On LME As Buyers Return After Squeeze

<ul>
<li>Nickel prices continued their decline on Monday, with the benchmark three-month contract falling 15% to hit another new trading limit,&nbsp;<a class="editor-rtfLink" href="https://www.cnbc.com/2022/03/21/nickel-price-falls-15percent-to-hit-new-limit-down-on-london-metal-exchange.html" style="color:#4a6ee0; background:transparent; margin-top:0pt; margin-bottom:0pt" target="_blank">reported CNBC.</a></li>
<li>The price hit $31,380 a metric ton as it opened for trade on the London Metal Exchange, the report cited Refinitiv data. On Friday, the price had hit $36,915 a metric ton.</li>
<li>Related:&nbsp;<a class="editor-rtfLink" href="https://www.benzinga.com/news/22/03/26197923/nickel-hits-limit-down-again-on-london-metal-exchange-falls-12-cnbc" style="color:#4a6ee0; background:transparent; margin-top:0pt; margin-bottom:0pt" target="_blank">Nickel Hits Limit Down Again On London Metal Exchange, Falls 12%: CNBC</a>.</li>
<li>The&nbsp;London Metal Exchange&#39;s&nbsp;unusual couple of weeks of nickel trading continued with price surges, technical glitches, and trading suspensions with no relief in sight.</li>
<li>Reuters reported Friday that volumes were low and few buyers were willing to pay the LME price, above that on the Shanghai Futures Exchange.</li>
<li>Also Read:&nbsp;<a class="editor-rtfLink" href="https://www.benzinga.com/news/22/03/26119137/jpmorgan-in-talks-with-tsingshan-to-contain-nickel-crisis-wsj" style="color:#4a6ee0; background:transparent; margin-top:0pt; margin-bottom:0pt" target="_blank">JPMorgan In Talks With Tsingshan To Contain Nickel Crisis: WSJ</a></li>
<li>Photo via Wikimedia Commons</li>
</ul>

New Week New Limit Down On LME, Benchmark Nickel Price Down 15%: CNBC

<ul>
<li>The benchmark three-month nickel contract fell 12% on Friday morning to hit a new trading limit, as heavy selling continued on international metal markets,&nbsp;<a class="editor-rtfLink" href="https://www.cnbc.com/2022/03/18/nickel-falls-12percent-to-hit-limit-down-again-on-london-metal-exchange.html" style="color:#4a6ee0; background:transparent; margin-top:0pt; margin-bottom:0pt" target="_blank">reported CNBC</a>.</li>
<li>The price hit $36,915 a metric ton as it opened for trade, stated Refinitiv data.</li>
<li>The&nbsp;London Metal Exchange,&nbsp;which still has some open outcry trading, has had a hectic two weeks with price surges, technical glitches, and trading suspensions.</li>
<li>The LME installed a trading range of 5%, which was widened to 8% for Thursday and 12% for Friday.</li>
<li>Related:&nbsp;<a class="editor-rtfLink" href="https://www.benzinga.com/markets/commodities/22/03/26035977/russia-impact-london-metal-exchange-suspends-nickel-trading-after-250-price-spike" style="color:#4a6ee0; background:transparent; margin-top:0pt; margin-bottom:0pt" target="_blank">Russia Impact - London Metal Exchange Suspends Nickel Trading After 250% Price Spike</a></li>
<li>On Wednesday, LME&rsquo;s attempt to resume nickel trading after the shutdown was hit with a &ldquo;systems error&rdquo; allowed a small number of trades to go through below the newly imposed daily price limit and was temporarily halted again.</li>
<li>Related:&nbsp;<a class="editor-rtfLink" href="https://www.benzinga.com/news/22/03/26161232/nickel-electronic-trading-halted-as-lme-hit-by-glitch-bloomberg" style="color:#4a6ee0; background:transparent; margin-top:0pt; margin-bottom:0pt" target="_blank">Nickel Electronic Trading Halted As LME Hit By Glitch: Bloomberg</a></li>
<li>Matthew Chamberlain, CEO of the LME, stated the LME had &ldquo;deliberately prioritized stability&rdquo; by setting a relatively narrow range of daily trading limits, but these could soon be widened if the exchange observed a &ldquo;more orderly market.&rdquo;</li>
</ul>

Nickel Hits Limit Down Again On London Metal Exchange, Falls 12%: CNBC

Nickel electronic trading halted minutes after it restarted at The London Metal Exchange (&lsquo;LME&rsquo;), citing a technical issue with its new daily limit, as prices plunged when the market opened after a week-long suspension,&nbsp;<a class="editor-rtfLink" href="https://www.bloomberg.com/news/articles/2022-03-16/nickel-drops-by-exchange-limit-as-trading-resumes-on-the-lme?srnd=premium&amp;sref=TBDibEcD" style="color:#4a6ee0; background:transparent; margin-top:0pt; margin-bottom:0pt" target="_blank">reported Bloomberg</a>.
What happened:&nbsp;Trading restarted at 8 a.m. GMT and nickel futures immediately fell through the 5% daily window before the market was suspended again.
Related:&nbsp;<a class="editor-rtfLink" href="https://www.benzinga.com/news/22/03/26134731/nickel-trading-to-resume-in-london-with-curbs-on-wednesday-after-week-long-halt-report" style="color:#4a6ee0; background:transparent; margin-top:0pt; margin-bottom:0pt" target="_blank">Nickel Trading To Resume In London With Curbs on Wednesday After Week-Long Halt: Report</a>
As per Bloomberg, the exchange said it halted electronic trading to investigate the problem and cancel a &ldquo;small number&rdquo; of transactions. Phone-based trading remains open, and brokers in the open-outcry floor known as &ldquo;the Ring&rdquo; will trade nickel later today.&nbsp;
Why it&rsquo;s Important:&nbsp;The drop in prices signifies that last week&rsquo;s historic short squeeze is easing, narrowing the gap between nickel contracts on the LME and those on Shanghai Futures Exchange.
The LME announced it would reopen the nickel market this week after Tsingshan secured a standstill agreement with its banks.
Related:&nbsp;<a class="editor-rtfLink" href="https://www.benzinga.com/news/22/03/26119137/jpmorgan-in-talks-with-tsingshan-to-contain-nickel-crisis-wsj" style="color:#4a6ee0; background:transparent; margin-top:0pt; margin-bottom:0pt" target="_blank">JPMorgan In Talks With Tsingshan To Contain Nickel Crisis: WSJ</a>
On Wednesday morning, only 206 lots, or 1,236 tons of nickel, changed hands before the market stopped trading within seconds. Most of those trades took place at the limit price of $45,590 a ton.
Shanghai Futures Exchange contracts closed up 8.6% at 235,200 yuan ($37,048) a ton but remained below LME prices before the London market opened, Bloomberg notes.

Nickel Electronic Trading Halted As LME Hit By Glitch: Bloomberg

Most people assume that April 15 is "Tax Day," but the sad reality is every day is tax day, at least according to <a href="http://www.benzinga.com/topic/gasbuddy">GasBuddy</a>.
GasBuddy's senior petroleum analyst Patrick DeHaan stated in a press release that the average American will spend $297 on gasoline taxes this year. This tax is often forgotten and a "hidden pain" &mdash; but that doesn't mean it doesn't exit.
As a whole, Americans spend $198 million a day on gasoline taxes, or roughly $72 billion a year. This comes from a mandated 18.4-cent per gallon federal gas tax, which thankfully hasn't been increased since 1993.

<h3>Could Things Change?</h3>
There is now <A href="https://www.wsj.com/articles/states-push-to-raise-gasoline-taxes-1487673018">some talk</a> of politicians revisiting the gas tax at a time when the <a href="https://www.benzinga.com/media/cnbc/17/04/9281457/analyst-so-long-cheap-er-gas-prices">price at the pump</a> continues to inch higher.
In addition to a federal tax on gas, Americans also pay local and state taxes which means some Americans have it better than others. Americans are the most taxed at the pump in Pennsylvania where 78-cents per gallon makes it way toward local, state and federal taxes. By comparison, Alaska boasts the best taxes on gas at just 31-cents per gallon while the national average stands at 50-cents per gallon.
Related Links:
<A href="https://www.benzinga.com/analyst-ratings/analyst-color/17/03/9231641/despite-low-gas-prices-americans-are-overpaying-at-the-p">Despite Low Gas Prices, Americans Are Overpaying At The Pump</a>
<a href="https://www.benzinga.com/news/17/03/9213349/trumps-keystone-xl-pipeline-approval-will-impact-crude-oil-spreads-boost-canadian">Trump's Keystone XL Pipeline Approval Will Impact Crude Oil Spreads, Boost Canadian Economy</a>

Politics

Economics

Motorists Spend $198 Million Daily On Gasoline Tax

Oil prices have been on a wild ride over the past year as oversupply, geopolitical turmoil and political uncertainty all pressured prices. However, some analysts say they are beginning to see a light at the end of the tunnel as major producers have shown signs of willingness to work together.

	Russian Energy Minister Alexander Novak <a href="http://www.wsj.com/articles/oil-prices-rebound-but-downside-ahead-1444269685">announced</a> earlier this week that he was ready to meet with OPEC and non-OPEC producers to discuss the oil market, as sign that coordination to cut production and raise prices may be in the cards. However, with the industry still on shaky ground, there are many deals to be had for risk-hungry investors who see the sector improving.

	Related Link: <a href="http://www.benzinga.com/analyst-ratings/analyst-color/15/10/5891023/thanks-alaska-every-barrel-of-oil-just-got-more-expensiv">Thanks, Alaska: Every Barrel Of Oil Just Got More Expensive</a>
<h3>
	Stock Picking</h3>

	While picking individual stocks is riskier than betting on an ETF, the rewards can also be larger. Investors hoping to cash in as oil recovers are looking to oil companies that have been able to weather the storm and are keeping their future projections conservative. Total SA (ADR)&nbsp;(NYSE: <a class="ticker" href="/stock/tot#NYSE">TOT</a>) and Exxon Mobil Corporation (NYSE: <a class="ticker" href="/stock/xom#NYSE">XOM</a>) are two such firms that have drawn in investors interested in getting back into oil.
<h3>
	ETFs</h3>

	Oil ETFs have lost around 40 percent over the past year as crude prices plummeted, but some see the low price as an opportunity, especially for a long-term investor. Vanguard Energy ETF (NYSE: <a class="ticker" href="/stock/vde#NYSE">VDE</a>) is one such fund which gives investors exposure to every aspect of the oil industry from exploration to refining products. PowerShares DB Energy Fund (ETF) (NYSE: <a class="ticker" href="/stock/dbe#NYSE">DBE</a>) tracks a variety of energy commodities and depends more on price fluctuations in Brent crude oil, natural gas and other commodities.

Global

Trading Ideas

Oil Market Sees A Ray Of Hope

Brent crude oil traded steadily at $102.10 at 8:10 GMT as the global supply glut weighed on prices.

	The commodity has been unresponsive to instability in Eastern Europe, Africa and the Middle East and instead, driven by economic data.

	This year, global supplies are expected to outpace demand as several large consumers struggle to get their economies back on track.

	Chinese consumption has been subdued as the nation&rsquo;s manufacturing sector slogs through a slow period. In Europe, economic indicators are pointing to a slowdown and inflation data due out on Friday is expected to show that the region is slipping even closer to a period of deflation.

	With crude demand already under pressure, prices took a further hit after <a href="http://uk.reuters.com/article/2014/08/28/markets-oil-idUKL3N0QY1NO20140828?feedType=RSS&amp;feedName=rbssEnergyNews">Reuters</a> reported a fire at BP&rsquo;s largest U.S. refinery that will likely depress the number one oil consuming nation&rsquo;s demand.

	<bzrelatedlink>Related Link: <a href="http://www.benzinga.com/trading-ideas/14/08/4805504/no-bottom-in-sight-for-silver-etfs">No Bottom In Sight For Silver ETFs</a></bzrelatedlink>

	Meanwhile, the tension between Russia and the West remained near all-time highs as the conflict in Ukraine showed no signs of easing. On Wednesday, Kiev said that Russia was sending military support across the border to rebel-held towns in the eastern part of the country. Though the Kremlin has denied any involvement, Western leaders have been skeptical.

	So far, Russia has resisted international pressure to get involved and help calm the situation, which has led to a sanctions war that has been weighing on global economic growth.

	Moving forward, the Middle East will be in focus as the U.S. prepares what could be further military intervention that extends from Northern Iraq to Syria.

	Oil exports from Iraq&rsquo;s southern oilfields have declined slightly but remain untouched by the fighting in the north. However, any further escalation in that conflict could help give Brent prices a boost.

Forex

Pre-Market Outlook

BROAD

PowerShares DBmmodity Index Optimum Yield Diversified Fund

Brent Steady, Supply Still Weighs On Prices

Brent crude oil was steady on Wednesday morning after briefly rising overnight, but waning demand in both China and Europe coupled with declining U.S. crude imports kept a lid on gains.

	The commodity traded at $102.13 at 5:40 GMT as investors kept an eye on developing supply issues.

	<a href="http://www.cnbc.com/id/101949775">CNBC</a> reported that Saudi Arabian crude exports were down to their lowest level in nearly three years. Additionally, the British Buzzard oilfield is performing planned maintenance, which is also cutting down on supply.

	Despite those supply issues, Brent remained under pressure as investors saw the market as oversupplied. Recent economic data from Europe has most expecting to see further easing from the European Central Bank, while China&rsquo;s recovery remains sluggish. The lack of demand in an oversupplied market has helped mitigate geopolitical risks in Libya, Iraq and Eastern Europe.

	<bzrelatedlink>Related Link: <a href="http://www.benzinga.com/general/education/14/08/4802184/movement-to-increase-in-bank-m-a">Movement To Increase In Bank M&amp;A</a></bzrelatedlink>

	In Iraq, Islamist militants have extended their reach across the northern part of the country and into Syria, where they&rsquo;ve captured a third military air base. The new development prompted the U.S. to make plans for aerial surveillance flights over Syria to gather intelligence. Most expect that the White House is considering extending its targeted air strikes into Syria in order to prevent ISIS from becoming any more powerful.

	Hours of negotiations between Russian President Vladimir Putin and Ukrainian President Petro Poroshenko ended as well as could be expected late on Tuesday night, as Poroshenko pledged to develop a ceasefire plan to end the violence in eastern Ukraine.

	If Poroshenko is able to come to an agreement with the rebel groups occupying several eastern towns, it could end the ongoing sanctions war between Russia and the West and help spur on global economic growth.

Brent Remains Below $103 Despite Tightening Supplies

Brent crude oil remained depressed on Monday as a stronger dollar and decreased global demand weighed on prices.

	The commodity traded at $102.10 at 8:00 GMT despite ongoing conflicts in the Middle East, Africa and Eastern Europe.

	Geopolitical tension has taken a back seat in driving oil prices as investors are mostly confident that there is minimal risk of a significant supply interruption.

	<a href="http://www.cnbc.com/id/101943272">CNBC</a> reported that fighting in Tripoli completely destroyed the airport over the weekend, but exports continued to ramp up as the nation&rsquo;s oil ports reopened. Last week, Libyan output was up to 612,000 barrels per day, still a far cry from its 1.4 million bpd capacity, but a marked improvement nonetheless.

	<bzrelatedlink>Related Link: <a href="http://www.benzinga.com/etfs/14/08/4796656/3-global-etfs-with-sky-high-dividends">3 Global ETFs With Sky-High Dividends</a></bzrelatedlink>

	Despite instability across the globe, Brent prices have been struggling as investors see weaker demand out of both China and Europe, and the U.S. dollar continues to rally.

	At the Jackson Hole summit last week, Federal Reserve Chair Janet Yellen struck a less dovish tone than expected, helping the dollar rise and in turn hurting commodities priced in dollars.

	While Yellen didn&rsquo;t provide any new insight into the bank&rsquo;s plans to raise the interest rate, she did acknowledge worries that it could hurt the nation&rsquo;s recovery if an accommodative policy is used for too long.

	Moving forward investors will be keeping a close eye on new developments in geopolitical problems as any major escalation could have the potential to drive prices higher.

	Economic data due out this week will also be on the radar as investors look for any indication of a demand increase.

Brent Prices Remain Depressed Despite Geopolitical Problems

Brent crude oil was poised to post another weekly loss this week as investors saw oversupply as more pertinent than geopolitical problems around the world.

	The commodity traded at $102.39 at 8:10 GMT as output from the U.S. and Libya increased and global demand looked shaky.

	<a href="http://www.cnbc.com/id/101939168">CNBC</a> reported that U.S. crude production reached a 28-year high this month because of the nation&rsquo;s shale production. The American Petroleum Institute released a report on Thursday showing that the nation&rsquo;s oil imports were on the decline, as the shale oil boom has been meeting the country&rsquo;s demand needs.

	<bzrelatedlink>Related Link: <a href="http://www.benzinga.com/trading-ideas/technicals/14/08/4796824/the-abcs-point-to-more-downside-for-ibm">The ABCs Point To More Downside For IBM</a></bzrelatedlink>

	Adding to the market&rsquo;s supply glut was also Libyan oil as the nation slowly reopens its export terminals and works toward returning to its normal export capacity after a year of protests kept its production subdued.

	Libyan exports have reached 612,000 barrels per day, a far cry from the nation&rsquo;s 1.4 million bpd capacity, but a marked improvement from the 100,000 bpd it was producing earlier in the year.

	Meanwhile the demand for crude is likely to remain subdued, as PMI data from China and the eurozone has painted a worrying picture for the two nations&rsquo; recoveries.

	Moving forward, investors will likely keep their eyes on the Jackson Hole summit, where the world&rsquo;s top central bankers and economists are meeting to discuss the state of the global economy.

	On Friday, Federal Reserve Chair Janet Yellen is due to speak about the recent progress seen in the U.S. Markets will be watching closely, hoping for any clues about the bank&rsquo;s plans to raise its main interest rate.

Brent Poised For Another Weekly Loss

Brent crude <a href="http://www.benzinga.com/topic/oil">oil</a> traded steadily below $102 on Thursday morning as investors continued to worry about oversupply rather than focusing on instability across the globe. The commodity traded at $101.64 at 8:50 GMT following the release of disappointing data from both the eurozone and <a href="http://www.benzinga.com/topic/China">China</a>.

<h3>China And Europe Slowing</h3>

	PMI figures out on Thursday showed that factory activity in China was at a three month low in August, suggesting that the world&rsquo;s second largest consumer was heading for another slowdown. Data from China has been disappointing this year as the nation struggles to continue supporting growth.

	Meanwhile, factory activity in Europe also fell short of expectations with a 52.8 composite flash PMI reading. The figure, although above the 50 point mark that separates expansion and contraction, showed a sizable drop from July&rsquo;s 53.8 reading.
Related Link: <a href="http://www.benzinga.com/news/14/08/4791620/supply-glut-continues-to-weigh-on-brent-prices">Supply Glut Continues To Weigh On Brent Prices</a>

<h3>Production Cuts?</h3>


	Shaky global demand coupled with an oversupplied market has taken Brent prices to near 14 month lows recently, creating worry among investors that OPEC could step in and cut production. As the price of crude gets closer to $100, the nations that make up OPEC are likely getting nervous as most require the price to remain above $100 per barrel in order to maintain their budgets.

	However, <a href="http://www.cnbc.com/id/101935921">CNBC</a> reported that the group has said they are not worried about the commodity&rsquo;s recent drop in price and that they are not planning to cut output anytime soon. Instead, the group said seasonal demand will likely increase as autumn approaches, which will help support prices.

	Moving forward, investors will be watching for any developments in the ongoing conflicts in Eastern Europe, Africa and the Middle East,&nbsp; though most don&rsquo;t see any new supply interruption risks materializing.

Brent Under Pressure From Subdued Global Demand

Brent crude oil remained near Tuesday&rsquo;s two-month low of $101.07 on Wednesday as investors saw geopolitical tension easing.

	The commodity traded at $101.69 at 8:25 GMT on Wednesday morning as markets waited for U.S. inventory data for a better picture of the number one consumer&rsquo;s crude demand.

	Brent has been sliding over the past few weeks despite ongoing conflicts in Eastern Europe, Africa and the Middle East. Now, as some of those conflicts fade, the commodity is under even more pressure, leading some to speculate that it could dip to $100.

	<bzrelatedlink>Related Link: <a href="http://www.benzinga.com/news/global/14/08/4791963/jaguar-range-rover-drives-prologis-u-k-expansion">Jaguar Range Rover Drives Prologis U.K. Expansion</a></bzrelatedlink>

	After having its export capacity diminished to nearly half for the past year, Libya is slowly reopening its oil ports and ramping up crude shipments.

	Though the nation is still battling a deep divide, <a href="http://www.cnbc.com/id/101932287">CNBC</a> reported that the country&rsquo;s National Oil Corp said oil production in Libya was up to 562,000 barrels per day from 535,000 barrels per day just a week earlier.

	That figure is still far below Libya&rsquo;s normal export capacity but shows a marked improvement.

	WTI prices gained some support from the American Petroleum Institute&rsquo;s report on U.S. inventories on Tuesday, as it suggested a healthy demand in the world&rsquo;s top consumer. The report showed a 1.4 million barrel decline in crude stockpiles last week, above expectations for a 1.2 million barrel drop.

	Moving forward investors will be looking to the Energy Information Administration&rsquo;s version of the same report, due out later on Wednesday. The report will likely confirm the decline and boost WTI prices.

Supply Glut Continues To Weigh On Brent Prices

Brent crude oil remained near a 14-month low on Tuesday with geopolitical tension easing and investors worried about a supply glut.

	The commodity traded at $101.82 at 7:00 GMT as markets waited for U.S. oil inventory data due out later in the day.

	A <a href="http://in.reuters.com/article/2014/08/19/markets-oil-idINL4N0QP1M320140819">Reuters</a> survey showed that most analysts see Tuesday&#39;s American Petroleum Institute report indicating that U.S. crude stocks declined last week, suggesting that the nation&rsquo;s oil demand is still strong.

	The analysts see crude stocks down by 1.5 million barrels, distillate stockpiles down 200,000 barrels and gasoline inventories down 1.7 million barrels.

	<bzrelatedlink>Related Link: <a href="http://www.benzinga.com/markets/eurozone/14/08/4787865/international-equities-weak-and-chinese-equities-strong-is-that-set-t">International Equities Weak And Chinese Equities Strong - Is That Set To Change?</a></bzrelatedlink>

	However, weak demand from Europe and Asia is continuing to depress the demand for crude on a global level. Some see Brent prices falling as low as $100 if geopolitical tension continues to ease and demand remains sluggish.

	The commodity will likely remain around the $100 mark, as most OPEC nations can&rsquo;t meet their budgets at a lower price.

	The threat of a supply interruption in Iraq lessened on Monday as Iraqi forces continued the push to recapture key parts of the North with help from U.S. air support. After a series of air strikes, Islamist militants were pushed out of the Mosul Dam and it was returned to Kurdish power.

	Meanwhile the risks in Ukraine also diminished as Ukrainian forces made some ground against pro-Russian separatists in the eastern part of the nation.

	However, the forward momentum came at a price as dozens of civilians were killed on Monday when rocket fire hit buses carrying them away from the fighting.

Get Our Top Trade Ideas Delivered Daily - 65% Off Now

Get Our Top Trade Ideas Delivered Daily - 65% Off Now

Comments

Invesco DB Energy Fund

Overview

Invesco DB Energy Fund (ARCA:DBE), Quote.Headers.trade-ideas