• AMC stock rose slightly on Tuesday amid renewed optimism on the Russian-Ukrainian front.
• AMC Entertainment had hoped for a rebound on the back of a strong Batman box office.
• Shares of the movie giant are expected to rebound on Tuesday as yields at risk.

Update: AMC Holdings is trading at $15.66, up 2.96% in the last hour of trading, as Wall Street managed to turn green following some bullish headlines from the Russian-Ukrainian front . Humanitarian corridors were opened on Tuesday for cities such as Sumy and Mariupol. Also, Russia announced another corridor for Wednesday, which will allow the evacuation of Kiev, Kharkiv and other cities. But the headline that spurred the latest surge in risk appetite came from Ukraine, as the country declared it would no longer seek NATO membership.

It’s hard to predict how things will continue from now on, because if war-related worries eased further, attention would shift back to rising inflationary pressures and central bank responses to them. The United States will release February inflation figures next Thursday, and the annual figure is expected to have hit 7.8%, a multi-decade high. Meanwhile, falling demand for security has pushed government bond yields higher, with that of the 10-year US Treasury note currently at 1.87%, up twelve basis points in the daytime.

Previous Update: Holy Purse, Batman! AMC Holdings stock fell short of its third-best opening weekend since the start of the COVID-19 pandemic. Shares of the popular cinema chain fell 5.5% in the first half hour of trading on Tuesday, but recovered to -0.5% after an hour of trading. AMC stock is trading at nearly $15 per share. Again, the Nasdaq is having another bad session and is down 0.8% right now after Monday’s 3% drop. Over four million tickets were sold last weekend for AMC’s latest hit The Batman. The Caped Crusader movie grossed some $258 million from Thursday to Sunday. In the United States, AMC said it achieved an above-normal market share of 29% over the weekend.

AMC stock gave up some premarket gains as the market declines. Previously, European markets had been strong thanks to a joint debt issuance proposal, but now things are turning bearish again. AMC CEO Adam Aron said Monday night that using cryptocurrency is good for AMC Entertainment and that the company may consider launching its own crypto in the future if things go well. . He also said that they would stay very far on the right side of the law when it comes to crypto regulation. AMC shares are now trading at $14.96 for a loss of 1.7%. Previously, AMC shares were up more than 1% in Tuesday’s premarket.

AMC stock fell sharply on Monday as investors continued to exit high-risk names as oil soared and commodity prices remained in orbit. The outlook for the global economy has deteriorated significantly and high-growth stocks such as AMC have taken a disproportionate hit. In the current environment, any highly leveraged security will take a bigger hit as interest rates are expected to rise, but growth is expected to slow. A US recession is approaching as the US yield curve is dangerously close to turning negative.

See Wake Up Wall Street for everything you need to know before the stock market opens.

AMC Stocks News

Investors, AMC traders – or monkeys as they like to be called – started Monday in high spirits as weekend box office numbers for Batman proved encouraging. However, AMC traders couldn’t stem the global bearish tide, and the stock was well beaten at the end of Monday. AMC stock closed at $15.21 for a loss of 8.2%. But Tuesday brings slightly more encouraging signs with slightly more optimistic tones of Russian demands on Ukraine, which has allowed risk assets to recover some ground. We would again expect a disproportionate rebound this time for AMC, and the stock should see a healthy gain at the open on Tuesday. We doubt this will hold for much longer than a few days as the overall sentiment remains bearish.

AMC Stock Forecast

AMC is bearish below $21.04 and is likely to remain in a long-term downtrend. The goal is to get back below $10. $14.54 is the next key support. A breakout will likely cause AMC stock to accelerate lower.

AMC stock chart, daily

Tuesday should see a recovery in risk sentiment. We are already noticing that safe-haven buying of bonds and dollars has faded and everything has weakened on Tuesday. This should see higher risk assets. The first step is to hold $14.54. This prepares the day for a green day. $16.62 is the next level to target for AMC and finds resistance against Friday’s volume profile. Once above $17.20, volume eases, meaning a breakout to the $18 test is possible. $18.20 is strong resistance and will be hard to break.

AMC 15 minute chart

Previous update: AMC stock gave up some premarket gains as the market declines. Previously, European markets had been strong thanks to a joint debt issuance proposal, but now things are turning bearish again. AMC CEO Adam Aron said Monday night that using cryptocurrency is good for AMC Entertainment and that the company may consider launching its own crypto in the future if things go well. . He also said that they would stay very far on the right side of the law when it comes to crypto regulation. AMC shares are now trading at $14.96 for a loss of 1.7%. Previously, AMC shares rose more than 1% in Tuesday’s premarket.

Food for thought in light of the biggest stock market bubble in the United States.

By Wolf Richter for WOLF STREET.

Major European stock indices have plunged below their bubble highs of more than two decades ago. That don’t mean they dived this a lot this week, but that they had finally surpassed their previous bubble highs of more than two decades ago, fueled by money printing, and then they plunged.

German stocks. The most quoted German stock index, the DAX, is a total return index that includes dividends and is therefore not comparable to a price index such as the S&P 500 index, which does not include dividends. But the less often cited DAX Kursindex (DAXK) is a price index and does not include dividends, and is comparable to the S&P 500 Index and most other major equity indices. So that’s what we’re going to use here.

The DAXK plunged 4.4% on Friday, and 10.1% for the week, to 5,517. Since the all-time closing high of 6,873 on January 5, 2021, it has plunged 19.7%. But wait… that all-time closing high was only up 10% from the March 2000 bubble peak – yes, that bubble that imploded 22 years ago. And on Friday, the index closed 11% below the peak of the March 2000 bubble. Note the gigantic volatility that investors have gone through over these 22 years to find themselves below where they started.

UK stocks. Britain’s FTSE 100 price index fell 3.5% on Friday and 6.7% for the week to 6,987. The index is now down 10% from its all-time high in May 2018 But wait… Friday’s close is slightly down from the December 31, 1999 close, which was the bubble high 22 years ago, and now the index is back:

French stocks. The CAC 40 price index plunged 5.0% on Friday and 10.2% for the week, to 6,062, and is down 18% from its all-time high in January 2021. But wait …yes, the index has now fallen 12% below its bubble high in September 2000. And note the horrible volatility investors have had to endure to get nowhere:

Spanish stocks. Spain’s IBEX 35 index fell 3.6% on Friday and 9.0% for the week to 7,721, and yes, for buyers and holders, this stock market has been a total 25-year nightmare. On Friday, stocks fell to the lower end of the 25-year range, to a level already seen in 1998. The index is now down 52% from its peak in December 2007:

Italian stocks. Italy’s FTSE MIB index plunged 6.2% on Friday and 12.8% for the week. This horror show is now down 55% from the March 2000 peak, and back to where it was in the 1990s – as my data only goes back to December 1997, and even then, l he index was even higher than today. Another great market for buyers and holders to eliminate:

There are a bunch of other stock indices around the world, including big indices like the Japanese Nikkei 225 and China’s Shanghai Stock Exchange, which are now below their bubble levels from a very long time ago. many years.

This shows that for many major stock markets around the world, buy and hold only works if you buy low and hold until prices are high, then sell before they dip again. So basic market timing. Otherwise, you could be screwed for decades, or possibly the rest of your life – the Nikkei is still down 33% from that 1989 bubble peak. Once those mega-bubbles implode, the stock markets may not see their old highs for decades. Food for thought.

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This stock market is coming stock by stock. The chaos that totally crushed one stock after another for a year bursts to the surface

BEIJING (AP) — Asian stock markets rebounded on Thursday and oil prices rose after the head of the Federal Reserve said he supported a lower interest rate hike than some had expected.

Shanghai, Tokyo, Hong Kong and Sydney advanced even as Russian forces whose attack on Ukraine rocked financial markets bombarded the country’s second-largest city and besieged two ports.

Wall Street’s benchmark S&P 500 rose 1.9% on Wednesday, recouping this week’s losses after Fed Chairman Jerome Powell said the US central bank was poised to hike its rate director for the first time since 2018. He said he supported a traditional rate hike of 0.25 percentage points instead of the larger hike recommended by some policymakers.

Powell said the impact on the US economy of Russia’s attack is “highly uncertain.”

“Markets reacted positively to the remarks, which is a questionable interpretation of Powell’s nuanced comments,” ING economists said in a report. “Volatility is key here, and uncertainty. That’s not going away anytime soon.”

The Nikkei 225 in Tokyo rose 0.8% to 26,608.21 and the Hang Seng in Hong Kong gained 0.6% to 22,469.66. The Shanghai Composite Index rose 0.1% to 3,487.78.

Seoul’s Kospi gained 1.6% to 2,745.45 and Sydney’s S&P-ASX 200 rose 0.8% to 7,171.10. New Zealand and Southeast Asian markets also grew.

Stock prices have fluctuated wildly as investors try to figure out how the Russian attack will affect supplies of oil, wheat and other raw materials and the global recovery from the coronavirus pandemic.

Traders were already worried about plans by the Fed and other central banks to fight inflation by withdrawing ultra-low interest rates that have boosted stock markets.

The S&P 500 rose to 4,386.54. The Dow Jones Industrial Average gained 1.8% to 33,891.35. The Nasdaq composite advanced 1.6% to 13,752.02.

Over 90% of S&P 500 stocks rose. Technology, finance and healthcare companies accounted for a large share of the rally. Energy stocks also helped push the index higher due to higher oil prices.

Ford Motor Co. jumped 8.4% after announcing it was accelerating its transformation into an electric vehicle company and separating its electric vehicle and internal combustion businesses.

The yield on the 10-year Treasury bond, or the difference between its market price and the payment at maturity, rose to 1.89% from 1.72% on Tuesday. However, yields were still lower than they were before the Russian invasion.

In energy markets, benchmark U.S. crude rose another $2.68 to $113.28 a barrel in electronic trading on the New York Mercantile Exchange. Brent crude, the price base for international oils, added $3.61 to $116.54 a barrel in London.

Both gains were lower than Wednesday’s surge of over $7 a barrel, but still unusually wide margins for a daily change.

Leaders of OPEC and other major oil exporters decided on Wednesday to stick to plans for a gradual increase in production. The coalition, made up of OPEC members led by Saudi Arabia and non-cartel members led by Russia, opted to increase production by 400,000 barrels per day in April.

Also this week, the United States and other major oil consumers at the International Energy Agency agreed to release 60 million barrels of strategic reserves to boost supply. But this had little impact on market prices.

In currency markets, the Russian ruble gained 3.4% against the US dollar, but was still near a record low of less than 1 cent. It has fallen nearly 25% since the attack after Western governments imposed sanctions that cut off much of Russia’s access to the global financial system.

The dollar gained 115.63 yen from 115.58 yen on Wednesday. The euro fell to $1.1097 from $1.1126.

Copyright 2022 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed without permission.

WASHINGTON (AP) — President Joe Biden recounted a flawed Democratic talking point on guns in his first State of the Union address, made his electric vehicle plan more advanced than he expected. is and has inflated the scope of its infrastructure set. On several fronts, he presented ambitions as achievements.

A look at some of his claims Tuesday night and a look at the Republican response:

COVID-19[female[feminine

BIDEN: “Severe cases have fallen to a level not seen since July of last year.”

THE FACTS: Biden overstated the improvement, omitting a statistic that remains a worrying marker of the COVID-19 toll.

While hospitalizations are indeed down from last summer, deaths remain high. The Centers for Disease Control and Prevention’s COVID tracker shows 289 deaths on July 1, 2021. As of Monday, the CDC tracker reported 1,985 deaths.

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SHOTGUNS

BIDEN, calling on Congress to pass measures it believes would reduce gun violence: “Repeal the liability shield that makes gun manufacturers the only industry in America that cannot be sued, the only one. “

THE FACTS: This is false. Although gun manufacturers enjoy legal protection against liability for injuries caused by the criminal misuse of their guns through the Protection of the Lawful Arms Trade Act 2005, they do not are neither exempt nor immune. to be prosecuted.

The law provides exceptions in which manufacturers or dealers can be held liable for damage caused by their guns, such as defects or damage in the design of the gun, negligence, or breach of contract or warranty regarding the gun. buying a gun.

Families of victims of the Sandy Hook Elementary School shooting in Newtown, Connecticut, sued gun maker Remington, alleging ‘unlawful dealing’ in firearms, and agreed to a settlement last month of $73 million.

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ECONOMY

BIDEN, promoting its $1 trillion infrastructure bill: “We are done talking about infrastructure weeks. We are now talking about a decade of infrastructure. … We will build a national network of 500,000 electric vehicle charging stations.

THE FACTS: Not so fast.

Bipartisan legislation approved by Congress ended up providing only half of the $15 billion Biden had envisioned to fulfill a campaign promise of 500,000 charging stations by 2030.

Biden’s Build Back Better proposal aimed to fill the void by adding billions to pay for charging stations. But Sen. Joe Manchin, DW.Va., in December declared that bill dead in its current form due to cost.

Administration officials now say the infrastructure law will help “pave the way” for up to 500,000 charging points by 2030. That’s different from charging stations, which could have multiple charging points. sale. They say private investment could help fill the void. There are currently over 100,000 electric vehicle outlets in the United States

The Department of Transportation’s plan calls for states to build a nationwide network of electric vehicle charging stations that would place new or upgraded ones every 50 miles along interstate highways. The $5 billion in federal money over five years relies on the cooperation of sprawling rural communities in the United States, which are less likely to own electric vehicles due to their generally higher price.

States are expected to begin construction as early as the fall.

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BIDEN, on Intel’s plans for new factories in central Ohio: “Up to eight state-of-the-art factories in one location, 10,000 new jobs.”

THE FACTS: His statement is premature. That many factories are not imminent and may or may not be built.

Earlier this year, Intel announced the opening of two factories that are expected to employ 3,000 people. The other 7,000 jobs that the project should create are temporary jobs in the construction sector. It also plans a chip foundry business that manufactures chips designed by other companies. Construction is expected to begin this year.

Intel has floated the possibility of building up to six more factories over the next decade, which could bring the total number of factory workers to 10,000. But that’s just a prospect, years from now. .

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BIDEN: “The pandemic has also disrupted the global supply chain… Look at the cars last year. A third of all inflation was due to automobile sales. There weren’t enough semiconductors to make all the cars people wanted to buy. And guess what? Automobile prices have skyrocketed…so we have a choice. One way to fight inflation is to drive down wages and make Americans poorer. I think I have a better idea for fighting inflation. Reduce your costs, not your salaries. People, that means making more cars and semiconductors in America. More infrastructure and innovation in America. More goods moving faster and cheaper in America… Instead of relying on foreign supply chains, let’s do it in America.

THE FACTS: It is dubious to suggest that more domestic manufacturing means less inflation.

Manufactured goods made overseas, especially in countries like China or Mexico where wages are lower, are generally less expensive than goods made in the United States.

Biden is also overemphasizing supply chain disruptions from abroad as a factor in the worst inflation in four decades. While these issues have indeed been a major factor in driving up costs, inflation is increasingly showing up in other areas, such as rent and restaurant meals, which reflect the rapidly growing economy. and wages over the past year and not a global supply bottleneck. These trends should continue to push prices higher even as supply chains recover.

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INFRASTRUCTURE LAW

BIDEN on infrastructure bill: ‘The biggest investment in history was a bipartisan effort.’

THE FACTS: No, it wasn’t that historic.

Biden’s infrastructure bill was large, adding $550 billion in new spending for roads, bridges and high-speed internet over five years. But measured as a proportion of the US economy, it’s slightly lower than the 1.36% of the nation’s gross domestic product that was spent on infrastructure, on average, during the first four years of the New Deal, according to an analysis by the Brookings Institution.. It is even lower than the roughly 2% spent on infrastructure in the late 1970s and early 1980s.

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REPUBLICAN RESPONSE

GOVERNMENT OF IOWA. KIM REYNOLDS, criticizing the Biden administration’s handling of immigration and bragging about Republican governors’ attention to the issue: “We actually went to the border – something that our president and our vice president don’t haven’t done since taking office.

THE FACTS: This is not true. Vice President Kamala Harris visited the border last year. Biden is not gone yet.

Harris visited a Customs and Border Protection processing center in El Paso, Texas, and met migrant children there. She also stopped at a reception center at the border and had a chat with local community organizations.

The half-day trip in June came after months of criticism from Republicans and some members of his own party over his and Biden’s absence from the border at a time when immigration officials have recorded a record number of encounters with migrants attempting to cross into the United States.

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Associated Press writers Ricardo Alonso-Zaldivar and Amanda Seitz in Washington, David Klepper in Providence, Rhode Island, John Seewer in Toledo, Ohio, and Karena Phan in New York contributed to this report.

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EDITOR’S NOTE — A look at the veracity of politicians’ claims.

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Find AP Fact Checks at http://apnews.com/APFactCheck

Follow @APFactCheck on Twitter: https://twitter.com/APFactCheck

Norwegian oil group Equinor and German Daimler Truck are ending partnerships with Russian firms while Volvo said it was halting car deliveries to the country as the trade fallout from the Ukraine invasion wears off propagate.

The announcements come as multinational groups operating in Russia grapple with the reputational impact of their association with the country as well as potential exposure to Western sanctions designed to inflict severe economic hardship.

Renault also said on Monday it was suspending operations at one of its Russian factories for a week as the automaker grapples with a supply chain disruption.

A day earlier, BP said it was selling its nearly 20% stake in Rosneft after chairman Helge Lund called Russia’s invasion of Ukraine “an act of aggression that has tragic consequences across the region. “.

Equinor said it was “coming out” of joint ventures in Russia that include a strategic partnership with state oil group Rosneft encompassing projects across Siberia.

Anders Opedal, Managing Director of Equinor, said: “In the current situation, we consider our position to be untenable. We will now stop new investments in our Russian business and we will begin the process of exiting our joint ventures in a way that is consistent with our values.

He said Equinor, which is two-thirds owned by the Norwegian government, was “deeply disturbed” by Russia’s invasion of Ukraine.

Daimler Truck, the world’s largest truckmaker, said it had taken the decision to “immediately suspend all our business activities in Russia” even though its contract with local automaker Kamaz limits cooperation to the manufacture of civilian vehicles. On the other hand, Kamaz, which was created under the Soviet Union, manufactures utility vehicles for the Russian armed forces.

Volvo Cars specifically cited the impact of financial sanctions from the West saying it “will not deliver any cars to the Russian market until further notice”. The decision is due to “potential risks associated with trading materials with Russia, including sanctions imposed by the EU and the United States.”

Truck maker Volvo, which is independent of the automaker, has also halted production at its sole plant in Russia and sales in the country until further notice, the group said on Monday, citing the risk of sanctions.

Following warnings from other automakers that they may struggle to transport components to and from Russia, Renault said it has temporarily closed its Moscow plant, which produces models such as the Renault Captur and its Arkana SUVs, due to supply chain issues.

Another factory of the French group operated by its Russian company Avtovaz also halted production on Monday, but that was due to shortages of semiconductors, a spokesman said. Manufacturing was to resume there on Tuesday.

Russia is the Renault group’s second-largest market by sales volume, while Avtovaz accounted for around 7% of its overall revenue last year.

Equinor said it plans to take business-related writedowns. The company has had a presence in Russia for more than 30 years and expanded its partnership with Rosneft in 2020, paying $550 million to acquire a 49% stake in a dozen exploration and production licenses in Eastern Siberia.

Equinor’s current production in Russia is modest at just 25,000 barrels of oil equivalent per day compared to a total of around 2 million barrels per day for its group. It has 70 employees in Russia.

The Norwegian government on Sunday ordered its $1.3 billion oil fund, the world’s largest sovereign wealth fund, to drop its $3 billion in Russian investments.

Daimler Truck’s decision is unlikely to have a big impact on its profits, as the truck maker only sells a few thousand units in Russia each year.

Mercedes-Benz AG, which in its previous form of Daimler AG was the parent company of Daimler Truck, said it was also considering selling a 15% stake in Kamaz.