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Storms spawn twisters in Mississippi, kill 2 in Georgia

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Storms spawn twisters in Mississippi, kill 2 in Georgia


View of snapped trees and a damaged house after a tornado passed through Tupelo, Mississippi, May 2, 2021 in this image obtained from social media.

Dean Meeks | via Reuters

Much of the South is again at risk of severe weather Tuesday, forecasters say, after tornadoes struck parts of the region Sunday night and Monday, causing heavy damage in some parts of Mississippi.

Large parts of Louisiana, Mississippi, Alabama and Tennessee, as well as corners of Arkansas and Georgia are at enhanced risk for the worst weather, according to the national Storm Prediction Center. That zone is home to more than 11 million people and includes the cities of Nashville, Tennessee; Birmingham, Alabama; Baton Rouge, Louisiana; and Jackson, Mississippi, forecasters said.

“We’ll see all three threats as far as hail, wind and tornadoes on Tuesday,” said Mike Edmonston, a National Weather Service meteorologist in Mississippi.

They could include wind gusts of up to 70 mph (113 kph) and hail to the size of golf balls, forecasters said, noting that “tornadoes are likely Tuesday into Tuesday evening” in parts of Mississippi.

The risk follows heavy weather that moved across the South on Sunday and Monday, damaging homes and uprooting trees from Mississippi to West Virginia.

Nathan Mason assesses damage to his grandmother’s home the day after a string of tornadoes caused several fatalities in Ohatchee, Alabama, March 26, 2021.

Elijah Nouvelage | Reuters

A tornado spotted in Atlanta forced thousands to seek shelter, and one man was killed when a falling tree brought power lines onto his vehicle. The motorist was pronounced dead after fire crews cut him from the vehicle in Douglasville, Georgia, west of Atlanta, Douglas County spokesman Rick Martin told reporters. And in middle Georgia, 55-year-old Carla Harris was killed after a tree fell onto her Bonaire home, Houston County emergency officials said.

The weather first turned rough in Mississippi on Sunday, where just south of Yazoo City, Vickie Savell was left with only scraps of the brand-new mobile home where she and her husband had moved in just eight days ago. It had been lifted off its foundation and moved about 25 feet (8 meters). It was completely destroyed.

“Oh my God, my first new house in 40 years and it’s gone,” she said Monday, amid treetops strewn about the neighborhood and the roar of chainsaws as people worked to clear roads.

Savell had been away from home, attending church, but her husband Nathan had been driving home and hunkered down in the front of his truck as the home nearby was destroyed. From there, he watched his new home blow past him, he said.

Nearby, Garry McGinty recalled being at home listening to birds chirping — then dead silence. He looked outside and saw a dark, ominous cloud and took shelter in a hallway, he said. He survived, but trees slammed into his carport, two vehicles and the side of his house.

The storms hit the northeast Mississippi city of Tupelo late Sunday, damaging homes and businesses.

There were multiple reports of damage to homes on Elvis Presley Drive, just down the street from the home where the famed singer was born. Presley was born in a two-room house in the Tupelo neighborhood but there was no indication that the historic home sustained damage. It’s now a museum.

A house is left missing a roof after a tornado passed through the Eagle Point subdivision in Hoover, Alabama, U.S. March 25, 2021.

Marvin Gentry | Reuters

Just down the street, a tornado tore the roof off the home of Terrille and Chaquilla Pulliam, they told the Northeast Mississippi Daily Journal. About 10 family members took shelter inside the house, and “we got everybody inside in time,” Terrille Pulliam said.

Calhoun County Sheriff Greg Pollan said Calhoun City also “was hit hard.”

“Light poles have been snapped off. Trees in a few homes. Trees on vehicles. Damage to several businesses. Fortunately, we have had no reports at this time of injuries,” Pollan posted on Facebook.

“I don’t even recognize my neighborhood anymore,” Calhoun City resident Martha Edmond told the Northeast Mississippi Daily Journal after a tree poked a hole in her roof, causing heavy water damage. Two locations of a metal fabrication company were heavily damaged.

In Mississippi, forecasters confirmed 12 tornadoes Sunday evening and night, including the Yazoo City twister, which stretched for 30 miles (48 kilometers), and another tornado that moved through suburbs of Byram and Terry south of Jackson that produced a damage track 1,000 yards (910 meters) wide.

In South Carolina, at least one tornado was reported Monday afternoon in Abbeville County. The tornado appeared to be on the ground for several miles, according to warnings from the National Weather Service. No injuries were immediately reported. In Greenwood, downed trees and power lines were reported, while a vehicle was blown over and a storage unit building was heavily damaged. Multiple locations reported golf ball-sized hail.

In the southern Kentucky town of Tompkinsville, a Monday morning storm later confirmed as a tornado damaged several homes and knocked down trees and power lines, Fire Chief Kevin Jones said. No injuries were reported, he said.

In West Virginia, Jefferson County communications supervisor James Hayden said one person was injured when a possible tornado touched down at a lumber company Monday evening. The injury was minor, and the person was treated at the scene, he said. An exterior lumber shed collapsed, Hayden said.

National Weather Service surveyors confirmed one tornado west of Atlanta near where the motorist died. The twister was determined to have peak winds of 90 mph (145 kph) with a path that ran 1.5 miles (2.4 kilometers). At least 10 homes had trees on them.

The same thunderstorm sent thousands of people to shelter in more central parts of Atlanta and may have produced at least one more tornado southwest of downtown. Possible tornado damage was also reported in the region around Athens.



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Oil Edges up As OPEC Downplays India Covid; API Report Awaited By Investing.com

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Oil Edges up As OPEC Downplays India Covid; API Report Awaited By Investing.com



© Reuters.

By Barani Krishnan

Investing.com – Oil prices edged higher on Tuesday after OPEC said it hoped for demand recovery in the second half if India gets out of its Covid situation by then. 

Also supporting the market were expectations that the U.S. government will report a second straight weekly drawdown in crude stockpiles, and pump prices of gasoline at seven-year highs after the shutdown of the country’s largest fuel pipeline due to a cyberattack.

Offsetting some of the positive sentiment was the festering coronavirus situation in India, the third largest importer of oil.

“The Covid crisis in India, which shows few signs of easing, is adding to the oil market’s woes. The seven-day average of new daily cases is at a record high, and global health authorities are already warning over the country’s variant, which is of international concern,” said Sophie Griffiths, who heads U.K. and EMEA research at online broking portal OANDA.  “Pressure continues to mount on Prime Minister Narendra Modi to impose a national lockdown in a bid to contain surging cases.”

States in Southern India have threatened to stop sharing medical oxygen with each other, fiercely protective about holding on to whatever they have as their hospitals swell with the sick, and infections skyrocket. 

The United States remains the most Covid-infected country with more than 32.7 million positive cases and over 582,000 deaths since the global outbreak of the pandemic in March 2020. But India has quickly caught up as number two in just over a month, having 23 million cases and almost 250,000 deaths.

OPEC on Tuesday stuck to its prediction of a strong recovery in world oil demand in 2021 as growth in China and the United States counters the Covid crisis in India.

The Organization of the Petroleum Exporting Countries said In a monthly report that demand will rise by 5.95 million barrels per day this year, or 6.6%, just as it forecast last month. The report however warned of “significant uncertainties,” mainly around the pandemic.

New York-traded , the benchmark for U.S. crude, settled up 36 cents at $65.28 per barrel.

London-traded , the global benchmark for crude, finished up 23 cents, at $68.55. 

Separately, the oil trade will be looking out later in the day for an idea of what last week’s crude and petroleum stockpiles might have been from an inventory snapshot due from the API, or American Petroleum Institute.

The API snapshot, scheduled  for release at 4:30 PM ET (20:30 GMT), comes before Wednesday’s official report from the U.S. Energy Information Administration on supply-demand of petroleum products for the week ended April 16.

According to a consensus of analysts tracked by Investing.com, U.S. crude likely fell by 2.8 million barrels during the week ended May 7, versus the drop of 8. million barrels noted in the previous week to April 30.

likely rose by 600,000 barrels versus the rise of 737,000 in the prior week, consensus shows.

And stockpiles of , made up of diesel and , likely declined by 1.1 million barrels last week after dropping 2.9 million barrels a week earlier.





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Ark’s Cathie Wood predicts ‘serious correction’ in commodities By Reuters

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Ark’s Cathie Wood predicts ‘serious correction’ in commodities By Reuters



© Reuters. FILE PHOTO: Crude oil storage tanks are seen from above at the Cushing oil hub, in Cushing, Oklahoma, U.S., March 24, 2016. REUTERS/Nick Oxford

By David Randall

NEW YORK (Reuters) – The sell-off in high-growth stocks since the beginning of the year does not signal the end to the tech rally that began during the coronavirus pandemic in 2020, said Ark Invest’s Cathie Wood, whose ARK Innovation ETF was the top-performing U.S. equity fund last year.

Wood, whose flagship fund suffered its largest outflows on record last week, said in a webinar Tuesday that she sees spiking commodity prices as a sign that businesses are double or triple ordering supplies as they try to restart their global supply lines.

Fears of inflation have weighed heavily on growth stocks since the start of the year and helped bolster value stocks, which tend to benefit from rising commodities and higher interest rates. The Russell 1000 Value index is up 16.3% for the year, while the Russell 1000 Growth is up 3.9% over the same time.

“The scramble is more today than what we’ve seen in any other cycle,” Wood said, predicting that “we will have a very serious correction in commodity prices” once the global economy fully reopens.

Deflation, rather than inflation, will likely be the dominant theme in global markets in the years ahead due to technological innovation, Wood said. Yields for the benchmark 10-year Treasury will likely stay within a range between 1.5% and 3%, she said, while oil prices are unlikely to go above $70 per barrel.

rose 0.5% to slightly more than $65 in midday trading Tuesday.

While the investor rotation into value stocks has been “powerful,” high-growth stocks remain attractive, Wood said.

“Many consider what has happened in the last 3 months to be the equivalent of the tech and telecom bust. We do not believe that this is the case in the least,” she said.

ARK Innovation rose 2 percent in afternoon trading Tuesday. The fund is down 14.7% since the start of the year and is down 31.5% over the last 3 months.

Investors pulled nearly $714 million out of ARK Invest in the week that ended May 5, the largest dollar amount on record and its largest decline in percentage terms since December, 2018, according to data from Refintiv Lipper.

Wood, however, remains bullish that growth stocks such as Tesla (NASDAQ:) Inc will continue to outperform over the next 5 years despite their recent declines.

“If I loved it up there and it’s 35% less expensive it must be a steal,” she said.

Disclaimer: Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. All CFDs (stocks, indexes, futures) and Forex prices are not provided by exchanges but rather by market makers, and so prices may not be accurate and may differ from the actual market price, meaning prices are indicative and not appropriate for trading purposes. Therefore Fusion Media doesn`t bear any responsibility for any trading losses you might incur as a result of using this data.

Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.





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U.S. senator asks firms about sales of hard disk drives to Huawei By Reuters

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U.S. senator asks firms about sales of hard disk drives to Huawei By Reuters



© Reuters. FILE PHOTO: The Huawei logo is seen at the IFA consumer technology fair, in Berlin, Germany September 3, 2020. REUTERS/Michele Tantussi/File Photo

WASHINGTON (Reuters) – A senior Republican U.S. senator on Tuesday asked the chief executives of Toshiba (OTC:) America Electronic Components, Seagate Technology, and Western Digital Corp (NASDAQ:) if the companies are improperly supplying Huawei with foreign-produced hard disk drives.

Senator Roger Wicker, the ranking member of the Commerce Committee, said a 2020 U.S. Commerce Department regulation sought to “tighten Huawei’s ability to procure items that are the direct product of specified U.S. technology or software, such as hard disk drives.”

He said he was engaged “in a fact-finding process… about whether leading global suppliers of hard disk drives are complying” with the regulation.

Disclaimer: Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. All CFDs (stocks, indexes, futures) and Forex prices are not provided by exchanges but rather by market makers, and so prices may not be accurate and may differ from the actual market price, meaning prices are indicative and not appropriate for trading purposes. Therefore Fusion Media doesn`t bear any responsibility for any trading losses you might incur as a result of using this data.

Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.





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