120K New Covid Cases Reported In US Monday

With 120265 new cases reporting on Monday, the total number of people infected with coronavirus in the country has risen to 84,885,712, as per Johns Hopkins University’s latest data.

274 Covid deaths reported on the same day took the total U.S. Covid casualties to 1,008,881.

Cases have fallen by 8 percent and deaths by 15 percent in the last two weeks, New York Times’ latest tally shows.

More than 29000 people are currently in American hospitals with the coronavirus, an increase of 15 percent over the last two weeks. More than 3,100 of these patients are admitted in intensive care units.

82,671,524 people have so far recovered from the disease, the Worldometer tally shows.

993 additional deaths were reported globally on Sunday, taking the total number of people who lost their lives due to the pandemic so far to 6,300,060.

As per the latest data published by the Centers for Disease Control and Prevention, 221,506,997 Americans, or 66.7 percent of the eligible population, have been administered both doses of Covid vaccine so far. This includes 91.2 percent of people above 65.

46.9 percent of the eligible population, or 103,900,589 people, have already received a booster dose that is recommended to provide additional protection from the killer virus.

The US Food and Drug Administration’s Vaccines and Related Biological Products Advisory Committee is scheduled to meet today to discuss an Emergency Use Authorization request by Novavax for a coronavirus vaccine for adults.

Kaival Brands Innovations Rally Continues

Shares of Kaival Brands Innovations Group, Inc. (KAVL) are rising 23 percent on Tuesday’s trading, continuing their upward trend since the past few days.

Tuesday’s increase can be attributed to news of the company signing an agreement with Philip Morris Products SA, a wholly owned affiliate of Philip Morris International Inc. (PM) for the development and distribution of electronic nicotine delivery system or ENDS products in markets outside the United States.

Currently shares at $2.09 on a volume of 37,317,528. The stock has traded between $0.52 and $17.00 during the past 52 weeks.

Americas Agriculture Producers Announce Actions To Strengthen Global Food Security

The Summit of the Americas Agriculture Producers has agreed to take near-term actions to strengthen global food security.

“We, as major producers and exporters of food and other agricultural inputs affirm the need to take near-term actions with the goal of stabilizing food prices and sustainably maximizing agricultural yields as well as building more resilient, safe, and sustainable global food systems for the future,” says a joint declaration issued by Argentina, Brazil, Canada, Mexico, and the United States after the summit.

More than 80 countries endorsed the Roadmap for Global Food Security Call to Action released at the U.S.-chaired Global Food Security Ministerial Meeting held at the United Nations on May 18.

The war in Ukraine has led to supply disruptions in grain, corn, cooking oil, and key agricultural inputs such as seeds, fertilizer, and refined fuels.

The five countries said that they plan to promote best practices to boost crop yields, agricultural production, and trade. They intend to work with farmers around the world to take steps to improve sustainable crop yields and enhance sustainable agricultural production.

Coterra Energy Shares Down 3%

Shares of hydrocarbon exploration company Coterra Energy Inc. (CTRA) are down 3 percent on Tuesday’s trading, continuing the declining trend since the past few days. There has not been any company announcement to negatively impact the stock.

The stock is perhaps trending with the US market which is trading down on Tuesday morning.

Currently at $31.74, the stock has traded between $14.28 and $36.55 during the past 52 weeks.

Day One Biopharma Gains On $125 Mln Public Offering

Day One Biopharmaceuticals, Inc. (DAWN) shares climbing more than 5percent on Tuesday morning trade after the clinical-stage biopharmaceutical company announced the commencement of an underwritten public offering of $125.0 million of its common stock.

Currently, shares are at $15.65, up 5 percent from the previous close of $14.96 on a volume of 8,357,639.

National Vision Gains 8% As It Sets To Enter S&P SmallCap 600

National Vision Holdings, Inc. (EYE) shares are trading more than 8 percent higher on Tuesday morning trade after the company is set to replace Renewable Energy Group Inc. (REGI) in the S&P SmallCap 600 effective June 16.

Currently, shares are at $27.35, up 8.19 percent from the previous close of $25.28 on a volume of 3,231,863. For the 52-week period, the shares have traded in a range of $22.59 – $65.92 on average volume of 1,139,844.

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Oil Futures Pare Early Gains, Settle Sharply Lower

Oil futures pared early gains and drifted lower on Tuesday on reports of a likely proposal to impose a federal surtax on certain oil companies to curb rising inflation.

A sharp drop in natural gas prices amid reports that repairs to a damaged Freeport LNG terminal might not be on till later this year, weighed as well on oil prices.

A stronger dollar too contributed to the drop in oil prices. The dollar index surged to 105.43 with traders betting on sharper interest rate cuts from the Federal Reserve. The Fed is widely expected to raise interest rate by 50 or 75 basis points on Wednesday.

West Texas Intermediate Crude oil futures for July ended lower by $2.00 or about 1.7% at $118.93 a barrel, after having climbed to $123.66 a barrel earlier in the session.

Brent crude futures were down $2.22 or 1.81% at $120.03 a barrel a little while ago. Brent crude futures had climbed to $125.16 a barrel earlier in the day.

Oil prices climbed higher earlier in the day as tight supply outweighed concerns about energy demand. A report from OPEC+ that it produced a total of 28.5 million barrels per day in May, which was down by about 176,000 barrels per day compared to the previous month, contributed a bit to the rise in oil prices.