M. Holland is excited to be the Headline Sponsor for the upcoming Injection Molding & Design Expo in Detroit! This two-day trade show will highlight the latest technologies, materials, equipment and opportunities in injection molding. The event is May 25-26 and admission is free. Click here to learn more.
M. Holland’s 3D Printing group offers a rapid response alternative for producing selected parts where resin availability is tight. For more information, email our 3D Printing team.
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Oil prices jumped nearly 3% in a choppy session Tuesday, reversing some of the previous day’s declines.
In mid-morning trading today, WTI futures were down 0.6% at $101.20/bbl, Brent was off 0.4% at $104.50/bbl, and U.S. natural gas was up 4.8% at $7.18/MMBtu.
NYMEX ultra-low-sulfur diesel jumped 9.2% yesterday to $4.47 a gallon, an all-time high.
U.S. crude stocks rose a larger-than-expected 4.8 million barrels last week, according to the American Petroleum Institute. Government data will be released today.
Valero Energy, the first U.S. refiner to report quarterly results, crushed market expectations on a doubling in refining margins from the same time last year.
The Caspian Pipeline Consortium, which Kazakhstan uses to export most of its oil, began operating at full capacity, a month after key infrastructure was damaged by a storm.
Global coal plant capacity rose 1% last year as a surge in new Chinese projects offset plant closures in the rest of the world.
LNG inventories in Japan are sharply down compared to a year ago.
U.S. consumer confidence fell slightly in April as concerns about inflation retreated from an all-time high but remained elevated, according to The Conference Board.
Led by cars and computers, U.S. orders for durable goods rose 0.8% in March, the fifth increase over the past six months following a decline in February. Orders for capital goods rebounded unexpectedly by 1%, signaling healthy momentum.
Deutsche Bank predicts the U.S. economy will fall into a “significant recession” next year as the Federal Reserve aggressively kicks up interest rates to fight inflation.
Paint and coating maker Sherwin-Williams posted a 9.5% profit decline on a 7.4% increase in sales due to higher costs for raw materials.
PepsiCo revenues rose following a 10% boost in prices and higher sales volume in most markets.
Profits at GM slipped 3% from a year ago on higher commodity and logistics costs.
Airline ticket prices have surpassed pre-pandemic levels by up to 80% on some of the most popular routes to Chicago and Las Vegas this summer.
Ford launched production of its electric F-150 Lightning yesterday and hinted that another electric truck is in the works at its mega campus under construction in Stanton, Tennessee. The automaker upped production targets on the massively popular Lightning model from 40,000 to 150,000 per year.
Since the start of Russia’s invasion, 40% of countries have introduced new measures to help contain the effects of rising prices on vulnerable groups, ranging from tax and tariff reductions to price caps.
EU officials will downgrade the continent’s 4% projected growth rate for 2022 later this month, primarily due to energy fallout from Russia’s invasion.
In the latest news from the international first-quarter earnings season:
Deutsche Bank posted better-than-expected profits but said a squeeze for talent was putting pressure on the bank’s payroll alongside rising economic uncertainty. Credit Suisse reported a loss largely due to rising legal costs.
South Korean automakers Hyundai and Kia reported declining unit sales but higher revenues and operating profits on higher prices.
Mercedes’ net profit fell nearly 20% due to higher production costs.
In line with U.S. airlines, Air Canada reported a larger-than-expected loss but said rebounding demand will justify adding 41% more flight capacity over the coming months.