SpaceX’s broadband satellite internet, Starlink, is still in beta, but already has over 10,000 customers. The fledgling service is expected to be a cash cow for SpaceX, bringing in as much as $30 billion a year — more than 10 times the annual revenue of its existing rocket business. This revenue will be used to fuel Elon Musk’s ultimate goal of building a colony on Mars. Eventually, Starlink may even keep us connected on the Red Planet. Elon Musk’s SpaceX rolled out its Starlink early access program to the public six months ago, with the satellite internet service growing to more than 10,000 users in the first few months. To get real-life first impressions of the service, CNBC spoke to more than 50 people who have been using Starlink. Those surveyed included households in Canada and 13 U.S. states: California, Colorado, Idaho, Iowa, Maine, Michigan, Minnesota, Montana, Ohio, Oregon, Washington, Wisconsin and Wyoming. The majority of these Starlink users are in rural or remote areas, such as farmland or wilderness, with limited access to terrestrial broadband options – and a few with no access altogether. “I expect to keep the service long term,” a user in Montana told CNBC. “The price of the beta for the service is more reasonable than any other option we have, and those are worse in performance. I will keep Starlink as long as its the only broadband option available to me.” Starlink is the company’s capital-intensive project to build an interconnected internet network with thousands of satellites, known in the space industry as a constellation, designed to deliver high-speed internet to consumers anywhere on the planet. SpaceX launched the “Better than Nothing Beta” program for the public in October, and the majority of users CNBC surveyed received invitations to join between November and February. The service is priced at $99 a month in the U.S. under the beta, with a $499 upfront cost for the equipment customers need to connect to the satellites – plus taxes, shipping, and any accessories needed to mount the antenna. CNBC’s surveyed users on total cost, the installation process, what they thought of SpaceX’s equipment, internet speed, reliability of the service, what their service alternatives were, their experience with customer service, any concerns they had, and their overall impressions. ‘ Nick Note: I give you the future of the internet. And their are 3 other companies that have approval for similar systems and are in production…
Russia beefs up warship presence in Black Sea as Ukraine tensions simmer
Two Russian Ropucha-class landing ships from Russia’s Northern Fleet, capable of carrying tanks and of delivering armor and troops during coastal assaults, transited the Bosphorus on Saturday, a Reuters reporter in Istanbul saw.
More Russian naval reinforcements in the form of two more landing ships, this time from Russia’s Baltic Fleet, are expected to imminently transit the Bosphorus. The RIA news agency on Saturday also reported that 15 smaller vessels from Russia’s Caspian Flotilla have completed their transfer to the Black Sea as part of an exercise. In a further sign of heightened tensions in the region, a ship carrying logistics trucks and equipment for NATO forces in Romania transited the Bosphorus on Friday evening, the same Reuters reporter saw. In St Petersburg, Russia’s FSB security service briefly detained a Ukrainian diplomat, Ukraine’s foreign ministry said on Saturday. The Interfax news agency earlier cited the FSB as saying Oleksandr Sosoniuk was taken into custody when he tried to obtain classified information from Russian law enforcement databases during a meeting with a Russian citizen. Nick Note: this bears close scrutiny. Imagery shows troops and armor build up on land and ships at sea. My analysis is that the very lest a test of Biden is occurring and worse case a Russian invasion of the Ukraine is being planned. SO far Biden has really fucked it up. The defense department was planning a build up of US naval forces in the Black Sea.. As ships were on the way Biden turned them back. Smells a lot like the bay of pigs to me……..
Airbnb’s CEO says the company will need millions more hosts to deal with a post-pandemic travel boom ‘unlike anything we’ve ever seen’
- Airbnb’s CEO on Friday said it needed millions more hosts for the post-pandemic travel boom.
- Airbnb sees a “rebound coming that’s unlike anything we’ve ever seen,” CEO Brian Chesky told CNBC.
- It has 4 million hosts with about 5.6 million listings, numbers mostly unchanged by the pandemic.
Airbnb will need millions of new hosts to meet demand as the world exits the pandemic, CEO Brian Chesky told CNBC on Friday. “To meet the demand over the coming years, we’re going to need millions more hosts,” Chesky told the network’s Deirdre Bosa on air. As the world tiptoes out of the pandemic, travelers are taking their first steps towards normal vacation routines. Many are wondering if Airbnb accommodations and hotels are safe. Chesky said on Friday that Airbnb expected the industry to roar back. He told CNBC: “I think that we probably will have a high-class problem where there will probably be more guests coming to Airbnb than we’ll have hosts for, because … we think there’s going to be a travel rebound coming that’s unlike anything we’ve ever seen.” Airbnb lists 4 million hosts, at present. As of the end of last year, they had about 5.6 million active listings in more than 220 countries and regions, according to the San Francisco company’s filings with the Securities and Exchange Commission. Chesky’s positive outlook echoed past statements and filings from the company. In a late February filing, the company said its listings had remained steady at 5.6 million for the entirety of 2020, despite a decline in bookings because of the pandemic. The company said: “While we believe that travel will change as a result of COVID-19, the adaptability of our business suggests that we are well-positioned to serve this dynamic market as it continues to evolve and recover.” After a blockbuster December IPO, the company in February beat Wall Street’s Q4 expectations. But its $859 million in revenue was down 22% from the $1.1 billion reported in the same year-earlier period. Airbnb was “primed for recovery,” wrote Brian Nowak, a Morgan Stanley analyst, in a note sent to clients earlier this year. Nowak said he expected Airbnb to be the “only player growing” in the first quarter, versus its competitors, including Expedia and Booking Holdings. “Similar to ’20, when people are returning to travel, they are choosing local (in country/close to home, driving over flying) and more rural locations…which gives an edge to alternative accommodations,” Nowak said. Nick Note: the reflation fuse has been lit. DO not be fooled they will go anywhere and every where.. by plane, train, car horse back, piggy back … shit even motor cycle. And they will stay in a airb&b, hotel, motel, camper van, tent homeless shelter…. because the captives have been set free…….
Wall Street closes at record highs
Major stock markets on Wall Street closed the last session of the week with gains as Dow Jones, Nasdaq 100 and S&P 500 hit their record highs. Investors’ optimism sparked after some blue-chip companies released their earnings reports. The University of Michigan reported Consumer Sentiment Index in the US increased by 1.9% in April, compared to the previous month, while the Current Economic Conditions Index grew by 4.5% from last month and by 30.8% year-on-year. Dow Jones gained 0.48% as Cisco Systems increased by 2.25%, while S&P 500 grew by 0.36% with PPG Industries soaring by 8.73%. The Nasdaq 100 climbed 0.11% led by Moderna jumping 6.84%. Nick Note: Have you ever seen a rodeo. Where the cowboy jumps on the back of a bull for a wild ride. Well if you are doing the deal you are on a wild ride. And i want to be clear here. It will be over very soon. As the fools rush in we will rush out. Nick Note: The really BIG BUCKS will be made when the fools go ALL IN AND WE GO ALL OUT. So ride em cowboy… but be ready for the bear attack!
U.S. Housing Starts Rebounded in March
(Bloomberg) — U.S. housing starts rebounded sharply in March to the highest since 2006, exceeding forecasts and indicating residential construction is getting back on track after a winter storm-related setback. Residential starts jumped 19.4% last month to a 1.74 million annualized rate, according to government data released Friday. The median estimate in a Bloomberg survey called for a 1.61 million pace. Applications to build also climbed. The figures suggest that homebuilders are making progress on elevated construction backlogs stemming from both strong housing demand during the pandemic and inclement winter weather. While home sales have softened since October, they are still above pre-pandemic levels, indicating that construction activity will remain strong for some time. Federal Reserve Chair Jerome Powell said this week that most Fed policy makers don’t see raising interest rates until 2024, which should help keep mortgage rates low and support the housing market. Builders, nonetheless, are contending with rising construction materials prices, a challenging supply chain and limited availability of skilled workers. Those higher costs are contributing to soaring home prices that risk restraining demand. Applications to build, a proxy for future construction, increased 2.7% to an annualized 1.77 million units, while the number of one-family homes authorized for construction but not yet started — a measure of backlogs — rose to 124,000 in March, the most since May 2007. A report on Thursday showed a measure of homebuilder sentiment improved in April, suggesting firms see steady growth in the housing market heading into the second quarter. March data on both existing and new home sales will be released next week. Single-family starts rose 15.3% in March to an annualized 1.24 million, close to the highest since 2006Multifamily starts — which tend to be volatile and include apartment buildings and condominiums — increased 30.8%Construction rose in three of four regions, led by a surge in the Midwest and large gains in the Northeast and South The number of all types of homes authorized for construction but not yet started rose to 217,000 in March, the highest since August 2006Nick note: If the housing market is booming and home sales are booming which they are and the stock market is achieving record highs every other day we could safely asume its a booming economy. And it will boom till its busts. Here is a news flash… Happy checks which have lit the fuse on this rocket will run out in 3 months……. So ride the rocket for now. And ETF traders you have to trade for the long haul and position yourself for the bust you can’t see right now. But lets face facts you live in the now whats my balalance NOT the future… thats my job….
Americans are feeling the best they’ve felt since the pandemic began, consumer survey shows
Consumer sentiment index rose to 86.5 in April from 84.9 in the prior month, according to a preliminary survey by the University of Michigan
Stimulus checks, rising coronavirus vaccinations and a rapidly growing economy lifted the spirits of Americans in early April and pushed a closely followed survey of consumer attitudes to a 13-month high. The consumer sentiment index rose to 86.5 in April from 84.9 in the prior month, according to a preliminary survey by the University of Michigan. That’s the highest level since the pandemic erupted in the U.S. in March 2020. The index had touched a 16-year high of 101 just a month earlier. The attitude of Americans about their own personal finances and the broader economy right now also climbed to a 13-month high. The so-called index of current conditions rose to 97.2 from 93 in March. By comparison, the index stood at 114.8 in February 2020. A forward-looking gauge on what consumers expect six months from now, however, showed lingering anxiety about the pandemic, including the safety of coronavirus vaccines. The index was unchanged at 79.7. What also is playing into the anxiety of Americans is higher inflation. Consumers tend to notice higher prices initially through rising gasoline prices, which have climbed sharply since the end of last year. Consumers expect the rate of inflation, now at 2.6%, to increase to as high as 3.7%. The last time they expected such a relatively high rate of inflation was a decade ago. Yet like senior Federal Reserve officials, consumers expect inflation to taper off in the longer run to a 2.7% annual rate. On the brighter side, half of all those survey expect a decline in unemployment. That’s the highest percentage ever recorded, the University of Michigan said. The U.S. is surging again as government stimulus money flows into the economy, governments relax pandemic restrictions and businesses seek to hire in anticipation of strong sales in the months ahead. The government on Thursday reported a 10% increase in U.S. retail sales in March while unemployment claims sank almost 200,000 to a new pandemic low of 576,000. The only obstacle to growth? Another spike in coronavirus cases. The number of people catching the virus is no longer declining, but it hasn’t risen very much, either. So long as the virus remains contained, the economy should keep building momentum. “Increasingly widespread rollout of vaccines is clearly having a beneficial impact on consumer sentiment and confidence,” said chief economist Joshua Shapiro of MFR Inc. Nick Note: Another important report. People who are not jazzed about their life and the economy do not buy stocks. So people love what they are seeing they are all in. But as far as stocks they have only deployed half the money in their trading accounts. We will try to ride this surge. When they get All in we will get ALL out..
Pfizer CEO: Third shot may be needed after 12 months
Morgan Stanley handily beats first-quarter trading and investment-banking estimates
- The bank posted first-quarter profit of $4.1 billion, or $2.19 a share. The firm said that excluding merger related expenses, adjusted profit was $2.22 a share; analysts had expected $1.70.
- Revenue of $15.7 billion vs $14.1 billion estimate.
Morgan Stanley said Friday that first-quarter profit and revenue beat expectations on stronger-than-expected trading and investment banking results. The bank posted profit of $4.1 billion, or $2.19 a share, more than double the $1.7 billion earnings of the year-earlier period. The firm said that excluding merger related expenses, adjusted profit was $2.22 a share; analysts had expected $1.70. Expectations for Morgan Stanley are running high after rivals posted strong trading and investment banking results. The boom in SPAC-issuance has led to a bonanza in fees for equity capital markets desks, and trading desks profited from strong activity across fixed income and stock markets. Furthermore, buoyant stock markets should help Morgan Stanley’s biggest single division, wealth management, as fees are typically a percentage of clients’ assets under management. CEO James Gorman announced $20 billion in deals last year, marking the most aggressive takeovers since the financial crisis. He spent $13 billion to acquire E-Trade to further his reach with the mass affluent, and $7 billion to buy Eaton Vance to bulk up his investment management business. The Eaton Vance acquisition closed during the first quarter. Morgan Stanley is the last of the six largest U.S. banks to report first-quarter earnings. JPMorgan Chase, Bank of America, Wells Fargo and Citigroup all beat analysts’ expectations with help from releasing money set aside earlier for loan losses. Key rival Goldman Sachs beat estimates on strong advisory and trading results. Nick Note: they took a billion dollar counter party loss and still made 4 billion. As a point in fact the CFD margin call was the biggest ever and met by counter party guarantees. If these were instruments were futures they would have wiped out everyone and their dog including the exchanges…….
Investors pour cash into equity, bond funds, dump cash – BofA
LONDON (Reuters) – Investors poured a hefty $25.6 billion into equity funds in the week to Wednesday and $17.9 billion into bond funds, the largest inflow in 10 weeks, BofA’s flow data showed on Friday. In contrast, there was an outflow of $47.3 billion from cash funds, the largest in four months, BofA said. It noted that an inflow into global stocks over the past five months at $602 billion exceeds the inflow in the prior 12 years of $452 billion. BofA also pointed to strong flows into investment-grade bonds, emerging market equities. Tech sector inflows resumed too, with $1.6 billion received, the bank added. Nick Note: I want to again make it clear to you what is going on… When you do not make the millions i think you can once again its on you… I am doing my job. This is the biggest stock market rally EVER! and it still has room to go… the”experts” got their heads so far up their doctoral asses when they look up they see stars. They do not understand how big this is.. Eventually their aldgoes and high frequency trades will pick it up… The only problem is by the time they do it will be time to short
China’s GDP up 18.3% in first quarter China’s retail sales rise by 34.2% in March
China just reported its strongest quarterly growth in nearly three decades.
KEY POINTS
* Q1 GDP +18.3% y/y (f’cast +19%, Q4 +6.5%)
* Q1 GDP +0.6% q/q s/adj (f’cast +1.5%, Q4 +3.2% revised)
* March industrial output +14.1% y/y (f’cast +17.2%, Jan-Feb +35.1%)
* March retail sales +34.2% y/y (f’cast +28%, Jan-Feb +33.8%)
* Jan-March fixed asset investment +25.6% y/y (f’cast +25.3%, Jan-Feb +35%)
* Jan-March property investment +25.6% y/y (Jan-Feb +38.3%)
The world’s second largest economy grew 18.3% in the first quarter of 2021 compared to a year earlier, according to government statistics released Friday. That’s the best quarterly growth since 1992, when China started publishing such figures. The surge is mainly because of a low base effect, as China had shut down large swaths of its economy in early 2020 to contain the coronavirus outbreak. On a quarterly basis, the Chinese economy grew only 0.6% in the January-to-March period, according to the government. In the fourth quarter of 2020, the economy had expanded 6.5%. Still, the growth figures indicate that China’s economic recovery continues to gather steam. The world’s second largest economy has performed well relative to the rest of the globe. China was the only major economy to record growth in 2020, expanding 2.3% as many countries struggled to contain the coronavirus pandemic. Chinese authorities called last year’s performance “better than we had expected.” Earlier this week, customs statistics showed the country’s imports jumped more than 38% last month in US dollar terms compared to a year earlier, a sign that demand within China is picking up. Exports grew by nearly 31%
China’s retail sales rise by 34.2% in March
Retail sales of consumer goods for March in China landed above analysts’ projections surging by 32.2% compared to the same time last year to reach ¥3,548.4 billion, the country’s National Bureau of Statistics (NBS) reported on Friday. The measure of total receipts of the retailed consumer goods in the first quarter of 2021 advanced by 33.9% on an annual basis to stand at ¥10,522.1 billion. The data for the three-month period analyzed by different areas showed the retail sales in urban areas reaching ¥9,134.5 billion, up by 34.6% year-on-year, while in rural areas the number increased by 29.4% to ¥1,387.5 billion. Nick Note: The markets do not see it yet. And have not priced in this monster world wide economic boom. The world is coming back faster then the algo and Wall Street pundits realize. the vast recoever is not priced into the stock market yet!