What Is Shell Doing On TikTok?

Oil and gas firms are increasingly realizing the importance of appealing to the Gen Z population, particularly as their voices on social media and other public forums are influencing the climate change response and national energy agendas. With more pressure than ever to transition away from fossil fuels to renewable alternatives, oil and gas firms may rely on this young generation for their survival in the coming decades.

Shell Plc (NYSE:SHEL) is the first of the oil majors to announce its entrance onto the social media platform Tik Tok, to appeal to younger, climate-aware audiences. It said in June that it was looking for a candidate to manage its Tik Tok activity who could create content that would appeal to Gen Z. Shell’s post for the role, based in London, said “You will start a new chapter that will help Energy Engaged Audience and Gen Z worldwide understand in an … Read more

Dow Closes with Weekly Losses Despite 600-Point Jump Friday

Stocks rallied on Friday in response to a new round of bank earnings and promising economic data as fears of a 100-basis-point rate hike from the Federal Reserve to subdue rising inflation subsided.

The Dow Jones Industrials leaped 658.09 points, or 2.2%, to 31,288.26.

The S&P 500 regained 72.78 points, or 1.9%, to 3,863.16.

The NASDAQ Composite climbed 201.24 points, or 1.8%, to 11,452.42.

Despite Friday’s rally, all the major averages closed out the week with losses. The Dow slipped close to 0.2% while the S&P dished off 0.9% while the NASDAQ fell nearly 1.6%. The session’s moves left the S&P 500 roughly 19% off its highs.

A new round of bank results from Wells Fargo and Citigroup offered further insight into the state of the economy. Wells Fargo popped 6.2% even as quarterly profits declined 48% and the bank set aside funds for bad loans. Citigroup soared 13.3% as … Read more

Housing, Building Figures Due Next Week

Monday

U.S.

Economic Lookahead

NAHB home builders’ index (July)

Featured Earnings

Bank of America Corporation (NYSE:BAC) (Q2) EPS projects 79 cents, compared to $1.03 in the prior-year quarter.

International Business Machines Corporation (NYSE:IBM) (Q2) EPS projects $2.28, compared to $2.33 in the prior-year quarter.

Charles Schwab Corporation (NYSE:SCHW) (Q2) EPS projects for 91 cents, compared to 70 cents in the prior-year quarter.

Canada

Featured Earnings

Platinum Group Metals Ltd. (T.PTM) (Q3) EPS projects a loss of three cents, compared to a gain of three cents in the prior-year quarter.

PrairieSky Royalty Ltd. (T.PSK) (Q2) EPS projects 38 cents, compared to 27 cents in the prior-year quarter.

Tuesday

U.S.

Economic Lookahead

Building permits (June)

Housing Starts (June)

Featured Earnings

Johnson & Johnson (NYSE:JNJ) (Q1) EPS projects $2.59, compared to $2.48 in the prior-year quarter.

Novartis AG (NYSE:NVS) (Q4) EPS projects for $1.51, compared to $1.64 in the prior-year quarter.

Netflix Inc. … Read more