Crude Oil Price Update – Strengthens into Close Over $63.79, Weakens Under $63.02

Benzinga
Too Few Seniors Review Medicare Plan Options Annually
More than half of seniors fail to take advantage of one of the most significant benefits available to Medicare beneficiaries. Each year millions of Americans with Medicare have the opportunity to review their current coverage and consider switching to reduce costs or get better coverage. An analysis of recent studies finds that few take advantage of the opportunity. Switching Medicare plans is available to those with Original Medicare. Around 37 million Americans have Medicare coverage that works on a fee-for-service basis. Individuals can go to any doctor or hospital that accepts Medicare and the government program will pay its share of the bill for any Medicare-covered service. A yearly review is also an option for the 26.5 million individuals enrolled in a Medicare Advantage plan. The 46 million with a Medicare Prescription Drug Plan (PDP) can benefit from an annual look to see if a better option is available. Potential savings can be significant. A recent study found that those with a stand-alone Medicare Prescription Drug Plan could save an average of $486 per year by switching to a different plan. Possible savings were as much as double for those enrolled in a Medicare Advantage Prescription Drug plan. Regrettably, more than half (57%) of all eligible Medicare beneficiaries do not review or compare options according to a review of information by the American Association for Medicare Supplement Insurance, (AAMSI). The percentage increases as individuals age. Two-thirds (66%) of those aged 85 and older say they never review their coverage. Medicare Annual Enrollment Period (AEP) that runs from October 15 to December 7 provides the single best opportunity to review current Medicare Advantage and Medicare PDP plan benefits and costs. Increasingly industry experts are recommending that individuals start the review process during the less-busy months leading up to AEP. Increased competition among Medicare insurance companies and healthcare providers make comparing increasingly beneficial. Comparing available options can be complex. In many places there are as many as 30 Medicare Advantage (MA) plans available and up to 40 different prescription drug plans. For those considering Medicare Supplement (Medigap) options, you may find 20 or more different insurance companies competing for your business. Most seniors on Medicare report it's easy to understand the program. However, a study conducted by the Kaiser Family Foundation found that 37% of Medicare beneficiaries said it was difficult or very difficult to understand the program. Finding information need not be complex. The official Medicare website can be a good place to start. However, just under half (44%) of seniors said they have never visited the website. Many who have accessed the information indicate that the volume of information can be confusing and some parts unclear. Finding Medicare Dollars and Sense Answers While Medicare is a federal program, available options are local. A plan available in one Zip Code may not be available in a neighboring area. Or, costs may be different. Plan benefits and meaningful options such as free gym memberships are continually being added as a way to attract more consumers. Creating a simple written checklist comparing benefits and associated costs is a good way to start. If you currently have Medicare coverage, write down the things you like and those you dislike. Online resources can be a good place to begin your review. So can many of the entities advertising on television. However, to get the best information for your particular area, consider finding and working with a local Medicare insurance agent. Ask whether they offer both Medicare Advantage and Medigap options. And, if they are willing to help you compare your drug plan options. An online directory lists Medicare agents listed by Zip Code. Access it at www.medicaresupp.org and connect with one or two agents to see who can help you review your current options. Taking an hour to review can yield better coverage, improved satisfaction and, of course, savings. It seems a more than worthwhile investment of time. See more from BenzingaClick here for options trades from BenzingaThese Best Medicare Resources Can Help SeniorsDon't Miss Out: It's the Last Chance For Couples To Save 30 Percent On Long-Term Care Insurance© 2021 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
9h ago
FX Empire
Oil Price Fundamental Daily Forecast – Prices Plunge on Reported Progress in US-Iran Nuclear Talks
Today’s API report is expected to show U.S. crude inventories to have risen by 1.6 million barrels last week, according to a Reuters poll.
1d ago
Investopedia
Best (and Only) Inverse Oil ETF for Q3 2021
Inverse oil exchange-traded funds (ETFs), which are leveraged and can be highly risky, seek to short either a single energy commodity or a combination of several energy commodities. Examples of the types of commodities typically shorted by these ETFs include crude oil, gasoline, and heating oil. The impact of the coronavirus pandemic helped drive oil prices into negative territory early last year, but oil prices have rebounded significantly since then.
1d ago
The State
Everything you need to know about the 2021 PGA Championship at Kiawah’s Ocean Course
There are lots of TV and streaming options if you can’t be there in person.
18h ago
Bloomberg
AMD CEO Lisa Su Says Chipmaker’s Path Gets Tougher From Here
(Bloomberg) -- Advanced Micro Devices Inc. Chief Executive Officer Lisa Su, who took the helm in 2014, has returned the chipmaker to profitability, taken market share from Intel Corp. and banished concerns about the company running out of cash.More than six years into her tenure, AMD has seen its market value surge to more than $90 billion from about $2 billion when Su was named CEO. On Wednesday, the company unveiled a $4 billion stock-repurchase plan, its first buyback since 2001, highlighting its new financial heft and stability. Still, Su isn’t ready to take a victory lap.“Without a doubt it does not get easier,” Su said in an interview with Bloomberg Technology’s Emily Chang. “We’re in a very competitive market. We have big ambitions about what we want to be able to do.”Su’s AMD has gone from an also-ran chipmaker offering cheaper alternatives to Intel products to a respected provider of computer processors that win orders based on superior performance. Su, the first woman to become CEO of a major chip company, said her main accomplishment has been earning AMD a new reputation for delivering on its promises. She has won customers’ trust that AMD can consistently supply improving products, she said.The executive has restored AMD’s reputation and performance at a critical juncture for the industry. The Covid-19 pandemic accelerated demand for remote computing via the internet and for devices needed to support study and work at home. And all this came during a period when Intel, the world’s largest chipmaker, had struggled to improve its manufacturing technology, one of the foundations of its decades-long dominance of the computer industry.Su said recent chip shortages, which have hamstrung multiple industries as the world economy comes back to life, are not a disaster -- they’re just another example of the periodic imbalances between supply and demand in the semiconductor market. One silver lining for the chip industry is that it has made customers more open to longer-term commitments.“Normally everybody sort of plans their worlds separately, and now we’re really having to plan our worlds together,” she said.She predicts supply of AMD chips, which are built by Taiwan Semiconductor Manufacturing Co., will improve throughout 2021.More stories like this are available on bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2021 Bloomberg L.P.
6h ago
Reuters
Apple made more than $100 million in commissions from 'Fortnite' - executive at trial
Apple Inc made more than $100 million in commissions from Epic Games' "Fortnite" during the two years the online game was on the App Store, an Apple executive testified on Wednesday. Michael Schmid, Apple's head of game business development for the App Store, took the stand during the third week of an antitrust trial in federal court in Oakland, California.
8h ago
Reuters
GLOBAL MARKETS-Bitcoin drops to lowest since Jan; stocks fall before Fed minutes
Stock indexes fell globally on Wednesday ahead of minutes from the U.S. Federal Reserve, while cryptocurrencies plunged after regulatory moves from China, with bitcoin dropping to its lowest level since January. Equity investors worry that rising inflationary pressures as evidenced by stronger-than-expected consumer price readings could prompt the Fed to pare back its support sooner than many anticipate. "There is no question that inflation worries have creeped into the investor mindset, which will weigh on the tech stocks and in all likelihood we will see yields go up," said Randy Frederick, vice president of trading and derivatives for Charles Schwab in Austin, Texas.
11h ago
Bloomberg
Cathie Wood, Still a Bitcoin Believer, Sees It Going to $500,000
(Bloomberg) -- Cathie Wood is keeping the faith, even in the face of Bitcoin’s massive plunge that had wiped $500 billion from the coin’s peak market value at one point.The head of Ark Investment Management said in an interview on Bloomberg TV that she still expects the cryptocurrency to reach a price of $500,000. She noted that as highly volatile sectors in the stock market are selling off amid inflation fears, Bitcoin is dropping as well. It last traded just below $38,000.“We go through soul searching times like this and scrape the models, and yes our conviction is just as high,” she said.Although Elon Musk has soured on Bitcoin due to its environmental impact, Wood said once renewables are incorporated into the Bitcoin mining technology, like she expects, “Elon will come back and be part of that ecosystem.”Musk’s quick change in opinion on the largest cryptocurrency may have been caused by pushback from institutional shareholders like BlackRock, she said.Despite her long-term conviction, Bitcoin and other digital coins may face more pain before mounting a comeback.“You never know how low is low when a market gets very emotional,” she said. “I think we’re in a capitulation phase. That’s a really great time to buy no matter what the asset is.”Wood has consistently loaded up on shares of Coinbase Global Inc. in the past two weeks as the cryptocurrency exchange has dipped below its April direct listing reference price and to a record low on Wednesday.In the interview, Wood also addressed the prospects for a Bitcoin exchange-traded fund to be approved in the U.S. this year, which appears to some less likely after a string of comments from regulators. Wood thinks the latest plunge could be a good thing for the prospects of approval. “The odds are going up now that we have had this correction,” she said.Although her funds have taken a hit this year, with her flagship Ark Innovation ETF down more than 34% from its high in February, the firm’s product line-up hasn’t yet faced a monthly outflow, she said.“There were a lot of commentators out there, shall I say, screaming about how our ETFs would have to shut down, which is impossible,” she said.In fact, the move toward value sectors that’s caused her funds to suffer is encouraging to her.“The forces that the coronavirus put in motion supporting all of the innovation in which we invest, they’re not looking back,” she said. “We’re looking at this saying: Alright, on sale. Innovation is on sale. Oh and by the way, the bull market had broadened out.”More stories like this are available on bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2021 Bloomberg L.P.
11h ago
CoinDesk
Ark Investment’s Cathie Wood Says Bitcoin Will Go to $500,000
Wood made the prediction even as the leading cryptocurrency tumbled on Wednesday.
10h ago
Reuters
Creditors approve restructuring plan for troubled Thai Airways
Thai Airways International's creditors have voted to approve the airline's restructuring plan, the flag carrier said on Wednesday, as it seeks to recover from financial problems suffered long before the coronavirus pandemic. The plan will allow for an extension on bond payments, interest and the option for debt-to-equity conversion, said Somboon Sangrungjang of law firm Kudun and Partners, which represents creditors including 87 savings cooperatives. The creditors proposed the appointment of finance ministry official Pornchai Thirawet, acting Thai Airways CEO Chansin Treenuchagron and former chief Piyasvasti Amranand, as plan administrators, the airline said on Wednesday.
15h ago
FX Empire
Price of Gold Fundamental Daily Forecast – Prices Could Collapse if the Fed Discussed Tapering
We don’t expect any surprises from the Fed based on the last policy statement in April and the subsequent dovish comments from several Fed officials.
16h ago
FX Empire
E-mini Dow Jones Industrial Average (YM) Futures Technical Analysis – Big Decision on Test of 33476 – 33116
The direction of the June E-mini Dow Jones Industrial Average on Wednesday is likely to be determined by trader reaction to the pivot at 33812.
13h ago
Bloomberg
Robotics Firm Memic Is in Talks to Go Public Via SPAC
(Bloomberg) -- Memic Innovative Surgery, a medical-device company that specializes in robot-assisted surgery, is in talks to go public through a merger with MedTech Acquisition Corp., a blank-check firm, according to people with knowledge of the matter.The special purpose acquisition company may raise additional equity through a so-called private investment in public equity, or PIPE, some of the people said. Terms of the deal couldn’t immediately be learned. As with all transactions that aren’t finalized, it’s possible talks could fall apart.A MedTech representative declined to comment and a spokesperson for Memic didn’t immediately respond to requests for comment.Memic in April said it had raised $96 million from investors including Peregrine Ventures and Ceros, with participation from OurCrowd and Accelmed. It said at the time that funding would support the commercialization of its Hominis robotic-assisted surgical platform in the U.S. and potentially offshore.The Tel Aviv-based company, led by co-founder and Chief Executive Officer Dvir Cohen and Chairman Maurice R. Ferre, in February received de novo marketing authorization for its Hominis system from the U.S. Food and Drug Administration for use in certain types of surgical procedures, including benign hysterectomies. The platform has miniature robotic arms, which the company says provide human-level dexterity and essentially replicate the motions performed by surgeons.MedTech, led by CEO Christopher Dewey, raised $250 million in a December initial public offering.Another robotics startup, Vicarious Surgical Inc., has agreed to go public through a merger with a SPAC, D8 Holdings Corp.More stories like this are available on bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2021 Bloomberg L.P.
10h ago
CoinDesk
Bitcoin Drops Below $31K Before Rebounding; $8B in Liquidations Triggered
The price of bitcoin is now down more than 30% so far in May, on track for its worst month since November 2018.
15h ago
Bloomberg
Cathie Wood Buys Tesla Amid Musk Bitcoin Spat, Burry Shorts
(Bloomberg) -- Cathie Wood’s Ark Investment Management is buying the dip in Tesla Inc., sticking with high-conviction names and setting aside a big disagreement with Elon Musk over Bitcoin.Ark exchange-traded funds added more than 47,000 shares in the electric carmaker in the last trading session, according to data released late Tuesday. While that’s worth a modest $27 million, it’s the first time the firm has purchased Tesla since April.Tesla has dropped 38% from its January peak as inflationary fears spur investors to sell expensive assets -- prompting Wood to demonstrate her propensity to enlarge Ark’s positions in favorite tech bets at market lows.The firm also recently bought Twitter Inc. amid its worst week since October. And Wood has been consistently adding cryptocurrency exchange Coinbase Global Inc., whose shares have been declining for much of the past month after rallying in its April IPO.Read more: Musk Splits From Cathie Wood’s Ark on Bitcoin Environmental CostSome of that retreat is likely down to Musk, who fueled a slump in the largest cryptocurrency after hitting out at the token’s high energy demands and reversing a decision to accept it as a form of payment.With Ark a big proponent of Bitcoin and a believer in its green credentials, it’s all adding to recent drama in the world of speculative tech. While Wood appears committed to her Tesla bet, famed investor Michael Burry has been revealed to be betting heavily against the carmaker via put options.Bitcoin has erased all the gains since Tesla’s Feb. 8 announcement that it would use corporate cash to buy the digital currency, and was trading at around $35,700 as of 10:28 a.m. in New York. Tesla was down 4.4%.Read more: Coinbase Plunges With Other Crypto Stocks Amid Bitcoin Rout“Wood is making her move once again when everyone else is looking elsewhere,” said James Pillow, managing director at Moors & Cabot Inc.More stories like this are available on bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2021 Bloomberg L.P.
13h ago
Reuters
US STOCKS-U.S. stocks drop after Fed minutes, crypto fall
Wall Street's main indexes closed lower on Wednesday after minutes from an April Federal Reserve meeting showed participants agreed the U.S. economy remained far from the central bank's goals, with some considering discussions on tapering its bond buying program. The S&P 500 added to losses after the release of the minutes revealed a number of Fed policymakers thought that if the economy continued rapid progress, it would become appropriate "at some point" in upcoming meetings to begin discussing a tapering of the Fed's monthly purchases of government bonds, a policy designed to keep long-term interest rates low. "There continues to be a view and a perspective from the participants, as well as the Fed staff that these inflationary pressures that are beginning to become evident will remain transitory in their view and will likely recede as we transition into 2022," said Bill Northey, senior investment director at U.S. Bank Wealth Management in Minneapolis.
6h ago
The Telegraph
Bitcoin recovers after crypto selloff abates
Inflation more than doubles to 1.5pc in April FTSE 100 drops below 7,000 benchmark, down 1.5pc Bitcoin shed as much as 30pc as major sell off grips cryptocurrencies Bitcoin price crash: should you sell your cryptocurrency? Shortage of workers threatens recovery as economy reopens Sign up here for our daily business briefing newsletter Bitcoin crashed by as much as 30pc today after China banned financial services firms from providing cryptocurrency services, dragging down other major cryptocurrencies at the same time. It has rebounded after approaching $30,000, a level not seen since January, and well below its April high of $65,000. The downturn quickly infected other cryptocurrencies, with Ethereum sinking by over 36pc and Dogecoin tumbling an even greater 41.5pc. In the UK, mining stocks dragged down blue-chips on a jittery day for London’s markets sparked by weaker commodity prices and worries over inflation. Commodities dropped after Chinese authorities suggested a curb on price increases, causing investors to flee their holdings in the sector. Anglo American led the sell-off as the worst performer on the benchmark, with losses of 156p to £31.54. It was followed by fellow miner BHP, which fell by 102.5p to £21.38, and Antofagasta, which lost 55.5p to close at £15.58. Rio Tinto shed 211p and fell to £60.39, and Glencore dropped 10.8p to 313.8p. It added to a wider market retreat as inflation concerns continued to infect trader confidence. Danni Hewson, a financial analyst at AJ Bell, said that a decision by Iceland to hike interest rates will have done nothing to soothe shareholders’ nerves. She added: “UK inflation figures will have prompted some investors to take a long look at their portfolios. “Jittery nicely sums up how UK markets have performed today, and all finished firmly in negative territory.” Fresh figures yesterday showed that Inflation more than doubled in April as higher energy bills pushed up the cost of living. Investors were also worried that shortages in supply chains and of workers could threaten the country’s economic recovery. Oil majors also fell as the price of crude continues to rise. Royal Dutch Shell joined miners in the top 10 worst performers, losing 37.8p to £13.24, while BP dropped 8.5p to 308.4p. The FTSE 100 lost 84.04 points to close at 6,950.20, with just 17 of its 101 constituents ending in the green. The FTSE 250 shed 98.03 points to 22,234.53. In more positive news, plumbing group Ferguson was the top FTSE 100 riser as it flew to its highest ever share price of £94.72 – having gained 202p through the day – after lifting its full-year outlook. It came as the company posted a 65pc jump in quarterly profit, while revenue for the three months to March rose by a quarter to $5.9bn (£4.2bn) compared to the same period last year. Ferguson said demand from America has surged as the country reopens, with revenue in its US business growing 23pc. Elsewhere, defence business BAE Systems fell 0.6p to 519.8p despite saying it is on target to meet its full-year guidance, with its air, maritime, electronic systems and intelligence and security operations all performing strongly. Sales are expected to rise by between 5pc and 7pc on the £20.8bn achieved last year, and underlying earnings are forecast to rise by between 6pc to 8pc from the previous level of £2bn.
1d ago
Yahoo Finance
Big money investors suggest the cycle has peaked: Morning Brief
Top news and what to watch in the markets on Wednesday, May 19, 2021.
17h ago
Bloomberg
Gold Slips From Four-Month High as Fed Minutes Fuel Taper Worry
(Bloomberg) -- Gold slipped from a four-month high as investors digested news that there was a group of Federal Reserve officials open to talking about tapering bond purchases.Treasury yields and the dollar rose after minutes of the Fed’s last meeting were released. The report showed a number of participants suggested that if the economy continued to make rapid progress toward the Committee’s goals, it might be appropriate at some point in upcoming meetings to begin discussing a plan for adjusting the pace of asset purchases.Gold has been buoyed by falling real bond yields and a weakening dollar, with inflation expectations in the U.S. rising. That’s revived investor interest in the precious metal, with holdings in bullion-backed exchange-traded funds rebounding. At their April meeting, Fed officials held interest rates near zero and said they were not yet ready to consider scaling back pandemic support for the economy.“The Fed minutes were talking about they might slow down asset purchases,” which triggered some profit-taking in gold, said Peter Thomas, senior vice president at Zaner Group. “Gold’s had a really strong run. A little step-back, a little profit-taking, it does make sense.”Spot gold fell 0.2% to $1,865.63 an ounce at 2:54 p.m. in New York after rising earlier to $1,890.13, the highest since Jan. 8 before slipping to $1,874.36 . Futures for June delivery rose 0.7% to settle at $1,881.50. Spot silver, platinum and palladium fell. The Bloomberg Dollar Spot Index rose 0.4%.Gold’s “technical picture is strong after a correction from overbought conditions, and the market will have noticed that we’ve now had eight days’ consecutive gains in the ETFs, which can help to sway sentiment,” said Rhona O’Connell, an analyst at StoneX Group. Geopolitical risk, notably in the Middle East, also helps sentiment toward gold as a haven, she said.More stories like this are available on bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2021 Bloomberg L.P.
8h ago
Yahoo Finance
Coinbase, Binance, other platforms see disruptions as crypto sell-off intensifies
Binance, Coinbase and other major cryptocurrency platforms experienced service disruptions Wednesday morning as volatility in bitcoin, ethereum and other major cryptocurrencies skyrocketed.
13h ago

Symbol	Last Price	Change	% Change
CL=F Crude Oil Jun 21	63.49	+0.13	+0.21%
GC=F Gold Jun 21	1,875.80	-5.70	-0.30%
SI=F Silver Jul 21	27.775	-0.233	-0.83%
ZG=F Gold 100 oz. Aug 21	1,837.80	-43.70	-2.32%
ZI=F Silver 5000 oz. May 20	17.193	-0.053	-0.31%

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