Oil prices surged to multi-week highs today amid OPEC hinted at optimism over its deal to curb oil production. WTI crude April futures were trading at $54.50 per barrel (1:30AM) and yesterday the previous month contract expired at the highest level since Jan, 3, hitting a 19-month high in intraday trade. OPEC secretary general said that January data showed that the conformity from member countries participating in the output cut had been above 90% and oil inventories would further slide this year.However, market participants are closely watching the release of inventory numbers from the US, to be released by the AMI to be followed tomorrow by government data. Bloomberg survey of eight analysts expects crude stock to rise by 3.325 million barrel at the end of this week. A stronger dollar is also putting some pressure on prices but apparently not enough to keep the current momentum of prices in check.In the days ahead, oil prices are likely to break out of their recent range and head … [Read more...] about Is Oil headed higher?
Volumes are the key factor in determining the strength of a bull run and daily average trading volumes have been relatively low, which could be another hint that a correction is coming. Technically speaking, the index is looking at a near term resistance around 21500. Failure to breach this level could see a fall in the near term. Any breakout below 19700 levels could see it enter into the negative terrain. … [Read more...] about Dow Heading To More Record Highs?
This comes in the wake of The Wall Street Journal expose that brought to light how top leadership at Facebook’s India office did not apply the company's content moderation rules such as hate speech, misinformation and incitement to violence by politicians from the ruling Bharatiya Janata Party (BJP). … [Read more...] about Civil rights organisations write to Facebook CEO Zuckerberg to address hate content
"Original audio from people like the 24 year-old, Aurangabad based, Yashraj Mukhate ( of ‘Rasode Main Kaun Tha’ fame) is seeing incredible mimicry. The dedicated tab is in response to the community’s amazing response to Reels, as it’ll help people discover new creators more easily," he added. … [Read more...] about Instagram rolls out separate Reels tab for Indian users
The first and foremost effect of the Yes Bank crisis was on Life Insurance Corporation of India. The insurer has usually seen a high amount of revenue collection coming in the month of March every year. The premiums usually flow in these days as online payments. With the automation of processes, the bank for NACH debit and cheque clearances for LIC was Yes Bank which is expected to affect the collections for the corporation for the month of March for Q4 ‘20. … [Read more...] about How the Yes Bank crisis has caused a domino effect