🛢️ Are Oil Prices About To Take Off?

Good morning. US stock futures rose in Thursday morning trading as Fed Chairman Jerome Powell said that policymakers will need more proof that inflation is moving toward the central bank’s 2% guideline before rates can come down.

🛢️ OPEC+ stays the course on production cuts

📝 Our report: Oil is inching its way up toward a five-month high as OPEC+ decides to stick with its current supply cuts until June. The Organization of the Petroleum Exporting Countries and its allies recommended no policy changes at its most recent meeting, a move likely to keep global markets tight over the next few months.

 🔑 Key points:

• The global crude benchmark is up by around 16% this year on tighter supply, disruptions to shipping and Ukrainian attacks on Russian refineries.

• Brent crude edged closer toward $90 a barrel after climbing more than 2% over previous trading sessions, while West Texas Intermediate was near $86.

• Compliance with OPEC+ quota levels is still an issue, however. Iraq pumped more oil that its agreed-upon target in March, although it has pledged to rein in flows to compensate. Russian crude exports have also risen recently.

💡 So what: OPEC+'s decision to extend supply cuts through June could lead to short-term price hikes, benefiting oil-producing nations but potentially raising costs for consumers. The move also reflects efforts by the oil cartel to stabilize oil markets amidst demand uncertainties and geopolitical tensions.

Thursday - US Trade Balance, Chicago Fed President Austan Goolsbee Speaks

Friday - US Unemployment Rate, Consumer Credit

📈 Nassim Nicholas Taleb shares his investing advice!

💰 These are the 5 steps to secure a startup business loan

🧑🏼‍💼 Here’s how you can prevent burnout at work!

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🐭 Disney emerges from proxy battle

WHAT: Disney has triumphed over activist investor Nelson Peltz in their boardroom showdown, putting an entertaining end to a saga that's been more dramatic than some of their own films. At its annual shareholder meeting the company said that the current Disney board will remain intact following a shareholder vote that gave the company's slate a win "by a substantial margin." About 75% of retail shareholders voted in favor of Disney's current board, according to sources familiar with the situation.

WHY: Peltz's hedge fund Trian Fund Management, which owns $3 billion of common stock in Disney renewed a push to shake up Disney's board last year as the stock price hit multiyear lows.

🦾 Apple turns focus to robotics after car fizzles out

WHAT: Apple's engineering teams are now venturing into the world of personal robotics, a move that could turn out to be the company's next "big thing", according to people familiar with the matter. Engineers at Apple have been exploring a mobile robot that can follow users around their homes as well as an advanced table-top home device that uses robotics to move a display around, sources close to the company said.

WHY: Before the EV project was canceled, Apple told its top executives that the company’s future revolved around three areas: automotive, the home and mixed reality.

✈️ Airline begins salary negotiations with pilots

WHAT: Almost 5,000 pilots, repped by the Air Line Pilots Association (ALPA), have sent JetBlue Airways a friendly reminder: it's time to chat about a new collective bargaining agreement. The pilots had negotiated a contract extension with the company at the time it was pursuing the now called-off merger with Spirit Airlines, the union said.

WHY: Pilots across North America are pressing for better pay and benefits, buoyed by a shortage of aviators amid a boom in air travel. Earlier this year, Southwest Airlines pilots approved a new labor agreement offering about a 50% pay raise over a five-year period.

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