Report produced by Yahaira Jacquez The Dow Jones Industrial Average ended at a record high on Wednesday, driven higher by energy and other economically sensitive sectors, while the Nasdaq closed in red as megacap growth stocks slipped. The Dow ended at a record high on Wednesday after Treasury Secretary Janet Yellen said she saw no inflation problem brewing, walking back comments from a day earlier that rate increases may be needed to stop the economy from overheating. The Dow average rose nearly 100 points to a new high while the S&P was nearly flat and the tech-heavy Nasdaq fell another roughly 0.4% after a sharp decline in the previous session. Eric Diton, president of The Wealth Alliance, says growth stocks will continue to feel the pressure. "Big tech is cooling. They came out with unbelievable earnings, those stocks normally would've been up 20-30%. Google's up but most of big tech is coming down. Value is coming back with a vengeance and the pricier stocks are coming back to earth." Peloton - the exercise equipment maker whose stock soared during lockdowns - dropped, hitting a seven-month low after it announced it would recall its treadmills amid reports of multiple injuries and the death of a child in an accident. Meanwhile -- Hollywood star Jessica Alba's Honest Company, which sells baby and beauty products, shined on Wall Street Wednesday as it made its market debut on the Nasdaq. Shares of the company, co-founded by Alba in 2011, ended the day up more than 40 percent than the IPO price. Reporting after the bell, Uber said ride-hail bookings were flat from the previous quarter but reported sustained growth in its food-delivery business. That growth helped the company more than triple its revenue from last year in its delivery segment.

By Elizabeth Culliford and Steve Holland (Reuters) -Former President Donald Trump on Tuesday launched a space on his website where he can post messages that can be shared by others to Twitter and Facebook, sites where he remains banned. The move comes a day before a decision from Facebook Inc's oversight board on whether to uphold Trump's indefinite suspension from the platform. Trump was barred from a slew of social media platforms following the deadly Jan. 6 storming of the U.S. Capitol by his supporters. Trump's senior adviser, Jason Miller, said in a tweet that this collection of posts was not the social media platform that Trump has plans to launch. "We'll have additional information coming on that front in the very near future," he tweeted. The site, which was first reported by Fox News, is dubbed "From the Desk of Donald J. Trump" and contains posts from Trump that can be shared and liked. A source familiar with the matter said it was built by Campaign Nucleus, the digital services company created by Trump's former campaign manager Brad Parscale. Posts on the site repeated Trump's false claim that he lost the 2020 election because of widespread voter fraud and denigrated fellow Republicans who have been critical of him like Senator Mitt Romney and Representative Liz Cheney. Twitter Inc and Facebook have both removed content posted from other accounts that they said tried to circumvent their bans on Trump. The companies did not immediately respond to requests for comment on how they would treat posts shared from the new space. Twitter, which Trump used heavily and where he had 88 million followers, has said its ban on him is permanent, even if he runs for office again. Alphabet Inc's YouTube has said it will restore Trump's channel when it decides the risk of violence has decreased. (Reporting by Elizabeth Culliford; Additional reporting by Steve Holland in Washington; Editing by Peter Cooney)

U.S. economy is heading for a 'reinflation' period: Barry Knapp Barry Knapp, managing partner at Ironsides Macroeconomics, joined "Squawk Box" on Tuesday to discuss what he's watching in the markets right now.

According to the weekly report by the shipbroker Allied Shipbroking, ship owners are significantly contracting more bulkers in the newbuilding market. This is confirmed by the report from Allied Shipbroking stating that the newbuilding market has seen a few dry bulks transactions. However, there are some interesting trends behind the transactions. For instance, the week has witnessed the order of 5+5 Kamsarmaxes by Nisshin Shipping, although many buyers had no interest in it for years. Although the freight rates have shown positive changes for the past few months, buyers are still afraid to place their orders. However, the newbuilding market is expected to see more buyers as the persistent earnings keep growing. This is contrary to the tanker market where the freight levels keep trimming buyers’ interests. This does not mean that the sector will completely diminish as many still believe the tanker market will bounce back later in the year. Of course, there have been a few orders seen in the past week, with interest being shared among the crude oil and petroleum products sectors. Shipbroker Banchero Costa said that Euronav ordered 2+1 VLCC (approximately 300,000) from Hyundai Samho in the tanker market, to be delivered between the end of 2022 and 1Q 2023. Moreover, Sonangol exercised an option for two more Suezmaxes (160k dwt) each costing $61 million. This is after placing two orders earlier. C of Enesel in China has further ordered two and one optional Aframax Tanker from SWS to be delivered in 2023, costing $52 million each. C. of Avin has also placed an optional order of the third Suezmax containing ammonia at Newtimes Shipyard to be delivered in the second quarter of 2023. On the other hand, C. of CGM ordered six plus six optional 13,000 TEU container vessels from Jiangnan and Hudong Zhonghua suppliers, each costing between $140 and $145 million. This marks to be the busiest week for the tanker market, where buyers can increase the vessel capacity to 15,000 TEU while bunker LNG tanks can be fitted on the deck for dual fuel. All the vessels are expected to be delivered from 2024. C. of Briese Scifffahrts ordered for four 1,900 TEU feeders from Huangpu Wenchong to be delivered in 2023. Additionally, in the dry market, Japanese Nisshin Kaiun ordered five plus five optional Kamsarmaxes from Jiangsu Hantong costing $27 million each to be delivered in June 2022. Allied Shipbroking added that the dry bulk transactions in the S&P market were quieter for the past week considering the current situation. However, the buyers' interest in different types of vessels remains stable and is likely to rise keeping the S&P volumes higher. Not forgetting it has also been a fruitful week for the tankers with notable activities. The expectations From this data, it is quite evident that both the tanker and newbuilding markets will experience a drastic increase in transactions for the coming weeks. This is because the market has seen overall buying interest in all shipping sectors, with the current momentum suggesting there will be sustained transactions ahead. (Editor: Richard Oyamo)

The current pandemic has tied many people in their homes; no social gatherings, no vacations, and limited numbers working in the offices. However, the bright side of the pandemic is that it has impacted the growth of the social network as people are now holding virtual meetings using their smartphones and laptops to interact with their colleagues. At least the economy is moving since many business people have now learned how to conduct their transactions through different social platforms. While all these seem to be a mere portion of a moving economy, various social media companies are smiling their ways to the banks with the increased number of users. Talking about Facebook, the statement made by Mark Zuckerberg, the Facebook CEO, on Wednesday, shows that Facebook had a fruitful first quarter of 2021 after connecting millions of people and businesses. This is after recording 2.85 billion monthly active users (MAUs), which is a 10% increase compared to the same month last year. The daily active users have also hit an average of 1.88 billion, which is an 8% increase. Facebook has also recorded a revenue of $26.1 billion in the first quarter of 2021, which marks an increase of 48% compared to the same period last year. The net income has also doubled from $4.9 billion in March 2020 to $9.5 billion this year. What could be the secret behind these increments? According to the CEO, the company has aggressively invested in new and meaningful opportunities over years and is determined to expand its roots to areas like augmented and virtual reality, commerce, and the content creation sectors. This has seen its shares exceeding seven percent in extended trading and 1.2 percent in closed-up trading. Averagely, the annual family daily active people (DAP) increased by 15% to 2.72 billion in March 2021 while the family monthly active people (MAP) rose to 3.45 billion. The company now has 60,654 employees, which is an annual increase of 26%. On its statement, Facebook records a growing advertising revenue in the first quarter of 2021, influenced by a 30% annual increase in the average price per ad and a 12% increase in ads delivered. Furthermore, it expects the revenue growth to remain stable or accelerate in the second quarter of 2021, which should be higher than what was recorded in the second quarter of 2020. The total annual expenses are also on the verge of increasing to the range of $70-73 billion from the estimated $68-73 billion range. (Editor: Richard Oyamo)

After a gruesome year of lockdowns, re-openings, and further lockdowns, finally, there is light at the end of the tunnel. The last few months, which have seen the impact of the Coronavirus pandemic being the most severe, economic forecasters had predicted the worst – mainly from fears the pandemic could cause permanent damage to the economy. These fears were valid though. Federal and local state governments – and pretty much the whole country – had to introduce more restrictions to curtail the spread of the virus, meaning fewer outdoor activities. Restaurants and other businesses were forced to minimize outdoor operations. While all that was psychologically frustrating, the onset of winter months came with new variants of Covid-19 that, according to the CDC, were classed as being more contagious than the original stand of SARS-CoV-2. All these factors, coupled with the decreasing pool of consumer savings, threatened to weigh negatively on the economy. Early January saw the mass rollout of vaccinations that averaged 400,000 doses daily. Mid-February saw an accelerated vaccine supply to a daily rate of 1.5 million does, with sights set on resumption of the economy – notwithstanding the peak infection rates in several states. But the baseline was, could we be possibly looking at a silver lining? The light at the end of the tunnel is finally here. Based on April 29, 2021, economic news release report, the US economy grew by an annual figure of 6.4% in Q1 of 2021, which was an increase from the 4.3% expansion of Q4 of 2020. That is positive news for traders and marketers, seeing as how huge the economic contraction was for last year. This is welcome news, but the economic bottom line scenario, nonetheless, is that forecasters assume some form of permanent damage on the GDP based on where it would have been had the coronavirus pandemic never struck. But How Did We Get Here in The First Place? Reopening efforts, coupled with mass vaccinations, revaccinations, increased exports, and the government's strategic response to the pandemic, reversed the declining personal consumption expenditure (PCE) and the residential fixed investment. And while the market expectations had estimated a Q1 2021 growth at 6.1%, this has been surpassed. The post-pandemic economic boom anticipates a spike in consumer expenditure that is to peak in the summer and fall. This is anticipated to increase the GDP through higher interest rates and pressures resulting from inflation. As such, the GDP will further be constrained to a period of slow economic growth, which is then expected to move the economy towards equilibrium (normal), hence attain a lower level that assumes a scenario had the pandemic not struck. (Editor: Richard Oyamo)

WASHINGTON (Reuters) - U.S. economic growth accelerated in the first quarter, fueled by massive government aid to households and businesses, charting the course for what is expected will be the strongest performance this year in nearly four decades. Gross domestic product increased at a 6.4% annualized rate last quarter, the Commerce Department said on Thursday in its advance estimate of GDP for the first three months of the year. That was the second-fastest GDP growth pace since the third quarter of 2003 and followed a 4.3% rate in the fourth quarter. Economists polled by Reuters had forecast GDP growth increasing at a 6.1% pace in the January-March period. The United States' economy is rebounding more quickly compared to its global rivals, thanks to two additional rounds of COVID-19 relief money from Washington as well as easing anxiety over the pandemic, which has boosted domestic demand and allowed services businesses like restaurants and bars to reopen. Still, the economy remains at least a couple of years away from fully recovering from the pandemic recession, which started in February 2020. Former President Donald Trump's government provided nearly $3 trillion in relief money early in the pandemic, leading to record GDP growth in the third quarter of last year. That was followed by nearly $900 billion in additional stimulus in late December. President Joe Biden's administration offered another $1.9 trillion rescue package in March, which sent one-time $1,400 checks to qualified households and extended a $300 unemployment subsidy through early September. The Federal Reserve on Wednesday acknowledged the burgeoning domestic activity, but the U.S. central bank gave no sign it was ready to reduce its extraordinary support for the recovery. The rapidly accelerating economy could dampen enthusiasm among some moderate Democrats for Biden's ambitious economic agenda. Biden on Wednesday unveiled a sweeping $1.8 trillion package for families and education in his first joint speech to Congress. Republicans oppose more stimulus, now worried about swelling debt. The new package and an earlier infrastructure and jobs plan total around $4 trillion, rivaling the annual federal budget. [nL1N2ML15K} There are concerns among some economists that the massive government funding could ignite inflation. Many economists, including Fed Chair Jerome Powell expect higher inflation will be transitory, arguing that the labor market remains 8.4 million jobs below its peak in February 2020. A separate report from the Labor Department on Thursday showed 553,000 people filed for state unemployment benefits during the week ended April 24, compared to 566,000 in the prior period. Though initial jobless claims have dropped from a record 6.149 million in early April 2020, they remain well above the 200,000 to 250,000 range viewed as consistent with a healthy labor market. The economy continued to power ahead early in the second quarter, with consumer spending vaulting to a 14-month high in April, thanks to the fiscal stimulus and the expansion of the COVID-19 vaccination program to all American adults. Americans have accumulated at least $2 trillion in excess savings. Many economists expect the economy will fully recover from the recession in late 2023. They forecast growth this year could top 7%, which would be the fastest since 1984. The economy contracted 3.5% in 2020, the worst performance in 74 years. (Reporting by Lucia Mutikani; Editing by Chizu Nomiyama)

STORY: Tear gas filled the streets of Colombia's capital of Bogota on Wednesday (April 28), after thousands of protesters took to the streets to demonstrate against a controversial government tax reform. In downtown Bogota, riot police set off tear gas to control a large crowd. A number of protesters were detained and officers reported injured in the heated demonstration. Wednesday's protest is the most recent in a series of marches which began near the end of 2019 against the social and economic policies of President Ivan Duque, who leaves office next year. The proposed tax reform was originally meant to raise about $6 billion, equivalent to 2% of gross domestic product (GDP). However, earlier on Wednesday finance official Juan Alberto Londono said the government could lower the targeted sum to between 18 trillion and 20 trillion pesos ($4.8 billion to $5.4 billion) as it looks to build consensus among lawmakers. The government is proposing a suite of new or expanded taxes on individuals and businesses, as well as reducing or eliminating many tax exemptions, including on product sales. The reform is crucial for Colombia to keep its investment grade debt rating, according to the government. (Production: Herbert Villarraga, Camilo Cohecha, Paul Vieira)

Enthusiasm for tech shares ahead of busy week for tech earnings pushed the Nasdaq and the S&P 500 to record closing highs. Conway G. Gittens has the market action. Optimism ahead of a big week for tech earnings sent the S&P 500 and the Nasdaq to fresh record closing highs on Monday. The Dow was left out of the record-making - with a 61-point decline. The S&P 500 rose 7 points. The Nasdaq enjoyed a gain of 121 points. With the Federal Reserve likely to remain on the sidelines even if the economy gets a little hot, stocks remain the best investment game in town, says Hilary Kramer of Kramer Capital. "The Fed is going to talk this week and we're going to hear about inflation Friday. No one is really worried because inflation is about specific areas of inflation, but general inflation is still muted and under two percent, even though we all know what's happening. So this stock market, we are going to hear that earnings were great because we're coming out of the pandemic and we're going to hear guidance that is going to be very optimistic. And that guidance is why the market is so excited." Tesla was the first of the big tech names out of the gate this week. The electric car maker posted record deliveries, which helped it beat sales forecasts. It said it was able to navigate through the global chip supply shortage hurting the industry - in part by pivoting rather quickly to new microcontrollers. Apple is stepping up its push on privacy. The company started enforcing a rule introduced last year requiring developers to use a pop-up notification to get user permission to gather data that can be used to track users across third-party sites and apps. Facebook has railed against the rule, saying it could harm its ad customers. Shares of Apple were up slightly. Facebook was up as well. Spotify is raising prices for some of its subscription plans in the U.S. and the United Kingdom starting this week. Existing customers will have a grace period. Investors cheered the minimal price hike. Shares of the streaming music company jumped nearly five percent.

By Svea Herbst-Bayliss and Jennifer Hiller BOSTON (Reuters) -The California Public Employees' Retirement System (CalPERS) said on Monday it plans to vote for Engine No. 1's four director nominees to Exxon Mobil Corp's board, throwing additional support to the activist hedge fund in its proxy fight with the company. "CalPERS is supporting additional board refreshment due to the long-term financial underperformance at ExxonMobil and the need for a greater depth of skill sets and experience on the board to address the significant challenges the company faces," the pension fund said on Monday. The fund is weighing in on what promises to be this year's most closely watched board room challenge where Engine No. 1, a newly launched hedge fund, is taking on one of corporate America's most iconic companies and pushing for improved financial performance and a greater focus on clean energy. CalPERS said it would back all of Engine No. 1's four nominees because it feels the board would "benefit from additional expertise in both its core business and in renewable energy technologies." Engine No. 1's slate includes Gregory Goff and Anders Runevad, former chief executives of oil refiner Andeavor and wind-turbine manufacturer Vestas Wind Systems, respectively; Kaisa Hietala, former head of renewable fuels at Finnish refiner Neste; and Alexander Karsner, the former U.S. assistant secretary of energy for efficiency and renewable energy. (Reporting by Svea Herbst-Bayliss and Jennifer Hiller; Editing by Chris Reese and Peter Cooney)