Wednesday, 27 Oct 2021

Conservative Columnist Hits GOP With A Damning Question About Its Indifference

Oil Prices Drifting Lower As Traders Look For Direction

Crude oil prices are paring early gains and drifting lower Thursday morning, after having surged higher on data showing a drop in crude inventories in the U.S.

Traders, weighing energy demand prospects and the supply situation in the market, appear to be taking some profits, cashing in recent gains.

West Texas Intermediate Crude oil futures for November are down $0.55 or 0.76% at $71.68 a barrel, coming off a high of 72.54 a barrel touched in the Asian session.

Brent crude futures are down $0.37 or 0.5% at $75.82 a barrel.

Oil prices rose sharply on Wednesday after data from U.S. Energy Information Administration (EIA) showed crude stockpiles dropped by 3.481 million barrels to 414 million barrels last week, the lowest level since October 2018.

Gasoline stockpiles rose by 3.47 million barrels, more than 2.5 times the expected increase, while distillate stockpiles dropped by 2.55 million barrels, more than twice the expected drop.

The EIA also said that oil facilities in the Gulf of Mexico continue to return to production, and weekly output rose by 500,000 barrels per day in the most recent week.

Talent Agent Matt Fechter Joins Hyperion

Matt Fechter has joined Hyperion to launch their Comedy Department. Fechter comes from CAA where he worked as an agent in both the comedy and talent departments working closely with such actors, directors, and comedians as Aristotle Athiras, Courtney Parchman, Jim Rash, Jeff Garlin, Laura Terruso, Madelaine Petsch, Maddie Phillips, Michael Cimino, Mike Cabellon, Miles Brown and Nat Faxon.

“We couldn’t be more fortunate to forge ahead into the comedy space with Matt leading the charge.  He’s proven his skill and ability to break new acts as well as his success representing established artists who have crossed over into different genres and mediums. He’ll no doubt continue that momentum at Hyperion,” said Hyperion founder, Ryan Bartlett on Tuesday.

Prior to CAA, Fechter worked in the motion picture and television departments at UTA.

“Hyperion, under Ryan’s innovation and leadership, is at the forefront of what it means to be in the representation business.  They have created an elevated and progressive standard in talent representation and I’m beyond thrilled to be part of that evolution.” said Fechter.

Hyperion represents a diverse client list including Shailene Woodley, Ashton Sanders, Cle Bennett, Spence Moore, Reign Edwards in addition to Shaun White, January Jones and music sensations; Galantis, Arizona, and Lost Kings on the Hyperion Branding side.

 

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U.S. Housing Starts Jump More Than Expected In August

New residential construction in the U.S. increased by more than expected in the month of August, according to a report released by the Commerce Department on Tuesday.

The report said housing starts jumped by 3.9 percent to an annual rate of 1.615 million in August from a revised rate of 1.554 million in July.

Economists had expected housing starts to increase to a rate of 1.580 million from the 1.534 million originally reported for the previous month.

The Commerce Department also said building permits spiked by 6.0 percent to an annual rate of 1.728 million in August from a revised rate of 1.630 million in July.

Building permits, an indicator of future housing demand, had been expected to drop to a rate of 1.610 million from the 1.635 million originally reported for the previous month.

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Gold Futures Drifting Lower As Equities Rally Ahead Of Fed Policy

Gold prices are drifting lower Wednesday morning with riskier assets such as equities moving higher ahead of the Federal Reserve’s monetary policy announcement.

A slightly subdued dollar is limiting the yellow metal’s downside. The dollar index, which slipped to 93.15, is currently at 93.19, down marginally from the previous close.

Gold futures for December are down $5.20 or 0.28% at $1,773.00 an ounce.

Silver futures for December are up $0.54 or 0.24% at $22.665 an ounce, while Copper futures for December are gaining $0.1040 or 2.5% at $4.2300 per pound.

The Federal Reserve is scheduled to release its policy statement at 2 PM ET. The central bank is widely expected to hold rates unchanged, and the focus will be on its outlook for the economy, inflation target, and possible timeline for tapering of its bond-buying program.

The Bank of Japan today confirmed that it would continue with its ultraeasy monetary policy as the country continues to fight coronavirus outbreaks caused by the delta variant.

Conservative Columnist Hits GOP With A Damning Question About Its Indifference

Washington Post columnist Max Boot flipped a quote from Benjamin Franklin to call out Republican reluctance to tackle the three biggest crises facing the United States.

Boot, in his column published Wednesday, recalled Franklin’s fire-prevention advice to Philadelphians that “an ounce of prevention is worth a pound of cure.”

Republicans today “seem to think an ounce of cure is worth a pound of prevention,” he wrote, slamming the GOP for allowing the “calamities” of COVID-19, global warming and gun violence “to rage out of control — and then hoping for the best.”

“Why won’t the GOP do more to avert so many foreseeable tragedies?” asked Boot, a longtime anti-Trump Republican who left the party following the former president’s rise to power.

“Because it is afraid to take on anti-vaxxers and COVID deniers, oil and gas interests, and the gun lobby,” he concluded. “Due to a combination of extremism and expedience, Republicans are allowing problems to fester at great cost rather than dealing with them at the source.”

Read Boot’s full column here.

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