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Stock Market Today: Dow Jones, S&P 500 Falter; Shell Reports Strong Quarterly Profit

Markets open lower today as stocks give back yesterday’s post-Fed gains
The post Stock Market Today: Dow Jones, S&P 500 Falter; Shell Reports Strong…

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Stock Market Today Mid-Morning Updates

On Thursday, the Dow Jones Industrial Average is down by 500 points after rallying yesterday on Fed Chairman Jerome Powell’s speech. This comes after March’s 25 basis point rate rise. Diving in, the Fed has raised the interest rate by 50 basis-point, which is its biggest rate hike since 2000. Powell also ruled out a larger 75 basis point rate rise down the road. However, another 50 basis point increase was under consideration for its next two meetings in June and July. Twitter (NYSE: TWTR) is up today after Elon Musk detailed $7.2 billion in financing to buy the company, according to a SEC filing.

Shares of Shopify (NYSE: SHOP) are down by over 14% today after it missed quarterly earnings at $0.20 per share instead of the consensus estimate of $0.64. The company also gave a conservative outlook as lockdown-inspired growth slows amid the absence of new consumer stimulus money. Fastly (NYSE: FSLY) is also down by over 12% today after reporting wider-than-expected losses. The company has also announced a leadership transition and succession plan to search for its next CEO.

Among the Dow Jones leaders, shares of Apple are down by 2.79% today while Microsoft (NASDAQ: MSFT) is also down by 2.62%. Meanwhile, Disney (NYSE: DIS) and Nike (NYSE: NKE) are trading lower on Thursday. Among the Dow financial leaders, Visa (NYSE: V) is down by 1.76% while JPMorgan Chase (NYSE: JPM) is also down by 1.68%.

Shares of EV leader Tesla (NASDAQ: TSLA) are down by 3.20% on Thursday. Rival EV companies like Rivian (NASDAQ: RIVN) are also down by 7.72%. Lucid Group (NASDAQ: LCID) is also down by 5.88% today. Chinese EV leaders like Nio (NYSE: NIO) and Xpeng Motors (NYSE: XPEV) are trading lower today. 

Dow Jones Today: U.S. Treasury Yields Breaches 3% After Fed Decision 

Following the stock market opening on Thursday, the S&P 500, Dow, and Nasdaq are trading lower at 1.90%, 1.53%, and 2.90%. Among exchange-traded funds, the Nasdaq 100 tracker Invesco QQQ Trust (NASDAQ: QQQ) is down by 2.98% while the SPDR S&P 500 ETF (NYSEARCA: SPY) is also down by 1.98%. 

The benchmark 10-year U.S. Treasury yield breaches the 3% mark again despite the Federal Reserve Chairman Jerome Powell indicating that the central bank will not get even more aggressive in raising rates. The government also reported on Thursday that first-time jobless claims rose more than expected to 200,000. Continuing claims, fell to 1.38 million, the lowest level since January 17, 1920. On Friday, the government will also publish the April employment report. Labor productivity fell by 7.5% in the first quarter, the biggest decline since 1947 while labor costs soared as the U.S. struggles with surging coronavirus cases.

[Read More] Top Stock Market News For Today May 5, 2022 

Shell Quarterly Profit Surges To 14-Year High As Commodity Costs Rise

Shell (NYSE: SHEL) is coming into focus at today’s opening bell after reporting its first-fiscal quarter. Getting straight to it, the oil giant posted its highest profit since 2008. To be precise, the company is looking at earnings of $9.1 billion for the quarter. This would represent a year-over-year jump of over 184%. As you can imagine, this is thanks to an uptick in commodity prices amidst the ongoing invasion of Ukraine by Russia. Shell, however, continues to serve a crucial role as global energy demand rises.

Not forgetting, the company is also actively working to return capital value to its shareholders as well. For starters, Shell is raising its dividend by 4% to $0.25 per share for the quarter. The company’s board of directors is also authorizing an $8.5 billion share buyback plan for its first half. According to Shell, the remaining $4.5 billion share buyback program on its books is set for completion before the announcement of its second-quarter earnings. All in all, it seems like Shell is going from strength to strength. Because of this, SHEL stock is now gaining by over 4% at today’s market open.

SHEL stock
Source: TradingView

[Read More] 4 Top Oil Stocks To Watch In The Stock Market Today

Twilio Shines Following Revenue Beat And Strong End To Fiscal Year

Also in the news today is Twilio (NASDAQ: TWLO). For the most part, the cloud communications service provider is currently receiving plenty of attention from its latest quarterly financial update. In it, the company broke even on the earnings per share front. When you compare this to consensus analyst forecasts of a $0.21 loss, this is rather commendable. Moreover, Twilio’s total revenue for the quarter is also in at $875.4 million, a notable 48% year-over-year increase. This would also see Twilio beating consensus revenue projections of $863.81 million. Not to mention, the company’s revenue dollar-based net expansion rate (RDNER) skyrocketed by 126% year-over-year. With fourth-quarter figures like this, Twilio would be looking at a rather solid fiscal year.

Speaking of fiscal year performances, the company’s annual revenue is up by 61% year-over-year, totaling $2.84 billion. On top of that, Twilio’s RDNER for the year surged by 131% over the same period. All of which the company has over 268,000 active users to thank for. Explaining Twilio’s current success is CEO Jeff Lawson. He highlights, “The combination of our leading cloud communications platform with Twilio Segment’s #1 customer data platform gives Twilio an unparalleled view into the customer journey, and I’ve never been more excited about the future of the company than I am today.” 

Overall, as work environments continue to shift towards a mix of physical and digital offices, Twilio’s communication offerings could gain traction. In fact, according to a recent study by Twilio, organizations that invested in digital customer engagement saw their revenues grow by 70% last year on average.

TWLO stock
Source: TradingView

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The post Stock Market Today: Dow Jones, S&P 500 Falter; Shell Reports Strong Quarterly Profit appeared first on Stock Market News, Quotes, Charts and Financial Information | StockMarket.com.

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The Battle For Control Of Your Mind

The Battle For Control Of Your Mind

Authored by Aaron Kheriaty via The Brownstone Institute

In his classic dystopian novel 1984, George…

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The Battle For Control Of Your Mind

Authored by Aaron Kheriaty via The Brownstone Institute

In his classic dystopian novel 1984, George Orwell famously wrote, “If you want a picture of the future, imagine a boot stamping on a human face—for ever.” This striking image served as a potent symbol for totalitarianism in the 20th Century. But as Caylan Ford recently observed, with the advent of digital health passports in the emerging biomedical security state, the new symbol of totalitarian repression is “not a boot, but an algorithm in the cloud: emotionless, impervious to appeal, silently shaping the biomass.”

These new digital surveillance and control mechanisms will be no less oppressive for being virtual rather than physical. Contact tracing apps, for example, have proliferated with at least 120 different apps in used in 71 different states, and 60 other digital contact-tracing measures have been used across 38 countries. There is currently no evidence that contact tracing apps or other methods of digital surveillance have helped to slow the spread of covid; but as with so many of our pandemic policies, this does not seem to have deterred their use.

Other advanced technologies were deployed in what one writer has called, with a nod to Orwell, “the stomp reflex,” to describe governments’ propensity to abuse emergency powers. Twenty-two countries used surveillance drones to monitor their populations for covid rule-breakers, others deployed facial recognition technologies, twenty-eight countries used internet censorship and thirteen countries resorted to internet shutdowns to manage populations during covid. A total of thirty-two countries have used militaries or military ordnances to enforce rules, which has included casualties. In Angola, for example, police shot and killed several citizens while imposing a lockdown.

Orwell explored the power of language to shape our thinking, including the power of sloppy or degraded language to distort thought. He articulated these concerns not only in his novels Animal Farm and 1984 but in his classic essay, “Politics and the English Language,” where he argues that “if thought corrupts language, language can also corrupt thought.”

The totalitarian regime depicted in 1984 requires citizens to communicate in Newspeak, a carefully controlled language of simplified grammar and restricted vocabulary designed to limit the individual’s ability to think or articulate subversive concepts such as personal identity, self-expression, and free will. With this bastardization of language, complete thoughts are reduced to simple terms conveying only simplistic meaning.  

Newspeak eliminates the possibility of nuance, rendering impossible consideration and communication of shades of meaning. The Party also intends with Newspeak’s short words to make speech physically automatic and thereby make speech largely unconscious, which further diminishes the possibility of genuinely critical thought.

In the novel, character Syme discusses his editorial work on the latest edition of the Newspeak Dictionary:

By 2050—earlier, probably—all real knowledge of Oldspeak [standard English] will have disappeared. The whole literature of the past will have been destroyed. Chaucer, Shakespeare, Milton, Byron—they’ll exist only in Newspeak versions, not merely changed into something different, but actually contradictory of what they used to be. Even the literature of The Party will change. Even the slogans will change. How could you have a slogan like Freedom is Slavery when the concept of freedom has been abolished? The whole climate of thought will be different. In fact, there will be no thought, as we understand it now. Orthodoxy means not thinking—not needing to think. Orthodoxy is unconsciousness.

Several terms of disparagement were repeatedly deployed during the pandemic, phrases whose only function was to halt the possibility of critical thought. These included, among others, ‘covid denier,’ ‘anti-vax,’ and ‘conspiracy theorist’. Some commentators will doubtless mischaracterize this book, and particularly this chapter, using these and similar terms—ready-made shortcuts that save critics the trouble of reading the book or critically engaging my evidence or arguments.

A brief comment on each of these may be helpful in illustrating how they function.

The first term, ‘covid denier,’ requires little attention. Those who sling this charge at any critic of our pandemic response recklessly equate covid with the Holocaust, which suggests that antisemitism continues to infect discourse on both the right and the left. We need not detain ourselves with more commentary on this phrase.

The epithet ‘anti-vax,’ deployed to characterize anyone who raises questions about the mass vaccination campaign or the safety and efficacy of covid vaccines, functions similarly as a conversation stopper rather than an accurately descriptive label. When people ask me whether I am anti-vax for challenging vaccine mandates I can only respond that the question makes about as much sense to me as the question, “Dr. Kheriaty, are you ‘pro-medication’ or ‘anti-medication’?” The answer is obviously contingent and nuanced: which medication, for which patient or patient population, under what circumstances, and for what indications? There is clearly no such thing as a medication, or a vaccine for that matter, that’s always good for everyone in every circumstance and all the time.

Regarding the term “conspiracy theorist,” Agamben notes that its indiscriminate deployment “demonstrates a surprising historical ignorance.” For anyone familiar with history knows that the stories historians recount retrace and reconstruct the actions of individuals, groups, and factions working in common purpose to achieve their goals using all available means. He mentions three examples from among thousands in the historical record.

In 415 B.C. Alcibiades deployed his influence and money to convince the Athenians to embark on an expedition to Sicily, a venture that turned out disastrously and marked the end of Athenian supremacy. In retaliation, Alcibiades enemies hired false witnesses and conspired against him to condemn him to death. In 1799 Napoleon Bonaparte violated his oath of fidelity to the Republic’s Constitution, overthrowing the directory in a coup, assumed full powers, and ending the Revolution. Days prior, he had met with co-conspirators to fine-tune their strategy against the anticipated opposition of the Council of Five Hundred.

Closer to our own day, he mentions the March on Rome by 25,000 Italian fascists in October 1922. Leading up to this even, Mussolini prepared the march with three collaborators, initiated contacts with the Prime Minister and powerful figures from the business world (some even maintain that Mussolini secretly met with the King to explore possible allegiances). The fascists rehearsed their occupation of Rome by a military occupation of Ancona two months prior.

Countless other examples, from the murder of Julius Caesar to the Bolshevik revolution, will occur to any student of history. In all these cases, individuals gathering in groups or parties to strategize goals and tactics, anticipate obstacles, then act resolutely to achieve their aims. Agamben acknowledges that this does not mean it is always necessary to aver to ‘conspiracies’ to explain historical events. “But anyone who labelled a historical who tried to reconstruct in detail the plots that triggered such events as a ‘conspiracy theorist’ would most definitely be demonstrating their own ignorance, if not idiocy.”

Anyone who mentioned “The Great Reset” in 2019 was accused of buying into a conspiracy theory—that is, until World Economic Forum founder and executive chairman Klaus Schwab published a book in 2020 laying out the WEF agenda with the helpful title,Covid-19: The Great Reset. Following new revelations about the lab leak hypothesis, U.S. funding of gain-of-function research at the Wuhan Institute of Virology, vaccine safety issues willfully suppressed, and coordinated media censorship and government smear campaigns against dissident voices, it seems the only difference between a conspiracy theory and credible news was about six months.

*  *  *

Originally posted at 'Human Flourishing' Substack.

Tyler Durden Mon, 05/16/2022 - 23:45

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World-first study reveals why people with COPD are more susceptible to COVID-19

Researchers from the Centenary Institute and the University of Technology Sydney have published the first study showing why people with chronic obstructive…

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Researchers from the Centenary Institute and the University of Technology Sydney have published the first study showing why people with chronic obstructive pulmonary disease (COPD) are at higher risk of developing severe COVID-19.

Credit: Centenary Institute

Researchers from the Centenary Institute and the University of Technology Sydney have published the first study showing why people with chronic obstructive pulmonary disease (COPD) are at higher risk of developing severe COVID-19.

The findings, reported in the American Journal of Respiratory and Critical Care Medicine, could lead to the development of new therapeutic interventions that reduce COVID-19 infection in COPD patients.

An inflammatory lung condition, COPD causes airway blockage and makes it difficult to breathe. It affects around 400 million people globally. The increased susceptibility to COVID-19 of COPD patients is still to be fully understood.

In the study, the researchers infected differentiated airway cells from COPD patients and healthy people with SARS-CoV-2 (the virus that causes COVID-19).

The researchers found that the COPD airway cells had 24-fold greater infection with SARS-CoV-2 than the healthy cells.

“We examined the genetic information of infected cells through advanced single cell RNA-sequencing analysis,” said lead author of the study, Dr Matt Johansen, from the Centenary UTS Centre for Inflammation.

“Seven days after SARS-CoV-2 infection, there was a 24-fold increase of viral load in the COPD patient airway cells compared to the cells taken from healthy individuals.”

Significantly, the team found that the infected COPD cells had increased levels of transmembrane protease serine 2 (TMPRSS2) and cathepsin B (CTSB). Both are enzymes that SARS-CoV-2 uses to enter into the host cell.

“These two enzymes are increased in COPD patients and favour greater SARS-CoV-2 infection compared to healthy people. Simply put, easier and increased cell infection makes it far more likely that individuals with COPD will have more severe disease outcomes,” said Dr Johansen.

Other results from the study showed additional reasons for COPD patient susceptibility to severe COVID-19.

Key anti-viral proteins (interferons) that protect against infection were largely blunted in the COPD patient airway cells. This was a likely trigger in causing increased viral production in COPD patients.

Dr Johansen said that infected COPD patient airway cells also had higher levels of pro-inflammatory cytokines, which are linked to more severe COVID-19 and COPD outcomes.

“COPD is an inflammatory disease with patients having increased inflammation at baseline compared to healthy people. It’s highly likely that SARS-CoV-2 exacerbates this existing high inflammation level which leads to even poorer outcomes,” he said.

Initial laboratory drug testing by the researchers, to inhibit the enzymes TMPRSS2 and CTSB, and to target the high inflammation levels, successfully and substantially reduced SARS-CoV-2 viral levels in COPD patient cells, ultimately confirming the study’s results.

“Collectively, these findings have allowed us to understand the mechanisms of increased COVID-19 susceptibility in COPD patients,” said Professor Phil Hansbro, the study’s senior author and Director of the Centenary UTS Centre for Inflammation.

“We believe that new drug treatments targeting relevant enzymes and pro-inflammatory responses in SARS-CoV-2 infection could have excellent therapeutic potential in reducing the severity of COVID-19 in patients with COPD.”

Professor Hansbro said the research was critical with hundreds of millions of people affected by COPD globally and with COVID-19 likely to be around for many years to come.

[ENDS]

Publication:

Increased SARS-CoV-2 Infection, Protease and Inflammatory Responses in COPD Primary Bronchial Epithelial Cells Defined with Single Cell RNA-Sequencing.

https://www.atsjournals.org/doi/10.1164/rccm.202108-1901OC

Images:

Dr Matt Johansen: https://drive.google.com/file/d/1Wc5WxHcS1fSWE68Q7xu8jT53Dki2ZBo4/

 

Professor Phil Hansbro:

https://drive.google.com/file/d/1GaHOyCjXfSb3hsE_bS-g2Cxs81dEhL4G/

 

For all media and interview enquiries, please contact

Tony Crawshaw, Media and Communications Manager, Centenary Institute on 0402 770 403 or email: t.crawshaw@centenary.org.au

 

About the Centenary Institute

The Centenary Institute is a world-leading independent medical research institute, closely affiliated to the University of Sydney and the Royal Prince Alfred Hospital. Our research focuses on three key areas: cancer, inflammation and cardiovascular disease. Our strength lies in uncovering disease mechanisms and applying this knowledge to improve diagnostics and treatments for patients.

For more information about the Centenary Institute, visit centenary.org.au

 

About the University of Technology Sydney (UTS)

The University of Technology Sydney (UTS), located in central Sydney, is one of

Australia’s leading universities of technology. It is known for fusing innovation, creativity

and technology in its teaching and research and for being an industry-focused university.

For more information go to uts.edu.au


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The New Rift Between WHO And China

The New Rift Between WHO And China

Authored by Jeffrey Tucker via The Brownstone Institute,

From the beginning of the pandemic, the World…

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The New Rift Between WHO And China

Authored by Jeffrey Tucker via The Brownstone Institute,

From the beginning of the pandemic, the World Health Organization and China’s CCP have worked and spoken hand-in-glove, culminating in the Potemkin Village junket of mid-February 2020. The WHO-sponsored travel report—how wonderfully China had performed!—was written and signed by American public health officials who recommended Wuhan-style lockdowns, a disastrous policy that further inspired most governments in the world to do the same.

Twenty-six months later, it turns out that China in fact had not “eliminated the virus fully within its borders,” contrary to the over-the-top claims of TV pundit Devi Sridhar in her new book “Preventable.” They only pushed cases into the future, as the CCP discovered when positive tests appeared all over Shanghai, leading to 7 weeks of brutal lockdowns.

This move on China’s part has been a disaster for the country and the world economy, and presently endangers the financial and technological future of the entire country.

For Xi Jinping, lockdowns and zero-covid were his greatest achievement, one which was celebrated the world over, causing his political pride to swell beyond all bounds. Now, he cannot back off lest he face possible losses in upcoming party elections.

Just this past weekend, he made it clear to the entire government that there would be no backing off the zero-covid policy: the CCP will “unswervingly adhere to the general policy of ‘dynamic zero-Covid,’ and resolutely fight against any words and deeds that distort, doubt or deny our country’s epidemic prevention policies.”

The problem is acute: vast numbers in China likely need to acquire natural immunity via exposure. The lockdown policy likely puts a damper on the achievement of endemicity. That means long-term damage to China’s future.

Sensing this problem, the head of the WHO, Tedros Adhanom Ghebreyesus, offered a mild criticism:

“Considering the behavior of the virus, I think a shift will be very important,” adding that he had discussed this point with Chinese scientists.

What happened next is truly fascinating: Tedros’s comments were censored all over China and searches for the name Tedros were immediately blocked within the country.

Implausibly, merely by stating the incredibly obvious point, Tedros has made himself an enemy of the state.

Meanwhile, another WHO/China partisan, Bill Gates, has been sheepishly saying something very similar in interviews, namely that the virus cannot be eradicated.

It’s not just Tedros and Gates who are trying to flee their advocacy of lockdowns. Anthony Fauci himself denied that the United States ever had “complete lockdowns”—which is technically correct but not because he didn’t demand them.

On March 16, 2020, Fauci faced the national press and read from a CDC directive: “In states with evidence of community transmission, bars, restaurants, food courts, gyms and other indoor and outdoor venues where groups of people congregate should be closed.”

In fact, one gets the strong sense that governments around the world are pretending as if the whole pathetic and terrible affair never happened, even as they are attempting to reserve the power to do it all over again should the need arise.

On May 12, 2022, many governments around the world gathered for a video call and agreed to pour many billions more into covid work, and reaffirm their dedication to an “all-of-society” and “whole-of-government” approach to infectious disease. The U.S. government under the administration readily agreed to this idea.

Leaders reinforced the value of whole-of-government and whole-of-society approaches to bring the acute phase of COVID-19 to an end, and the importance of being prepared for future pandemic threats. The Summit was focused on preventing complacency, recognizing the pandemic is not over; protecting the most vulnerable, including the elderly, immunocompromised people, and frontline and health workers; and preventing future health crises, recognizing now is the time to secure political and financial commitment for pandemic preparedness.

The Summit catalyzed bold commitments. Financially, leaders committed to provide nearly $2 billion in new funding—additional to pledges made earlier in 2022. These funds will accelerate access to vaccinations, testing, and treatments, and they will contribute to a new pandemic preparedness and global health security fund housed at the World Bank.

Is it progress to see these people throwing around language from the much-criticized but now wholly vindicated Great Barrington Declaration? Doubtful. You can’t make a bad policy better by tossing around words. There is every indication from this statement that there will be no apologies, no regrets, and no changes in the default position that governments must always and everywhere have maximum power to control any pathogen of their choosing.

Despite Tedros’s censored words, it’s no wonder that Xi Jinping continues to feel vindicated and affirmed, and sees no real political danger in choosing his own power over the health and well-being of his people. Governments around the world still cannot muster the courage to make a full-throated and solid attack on zero-covid, for fear of the implications of such a concession. Nudges and hints, even from the WHO, will not do it.

Tyler Durden Mon, 05/16/2022 - 19:45

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