This Scoop Is Summer Ready

Why Atlanta Falcons might trade Julio Jones, and six NFL teams that could target him

The output of the NFL rumor mill is directly proportional to the proximity of the draft. 

This year is no different, reports circulating about whether the Patriots will move up, or which quarterback the 49ers are truly targeting with the No. 3 overall pick.

But a particularly compelling bit of gossip surfaced Monday morning, when NFL Network reported the Atlanta Falcons "have received calls" regarding trade options for perennial Pro Bowl wideout Julio Jones. 

It's certainly not unusual for all 32 teams to do their due diligence on draft prospects and potentially available veterans throughout the league. But any whispers flitting around Jones could carry significant credence because …

Crude Oil Futures Settle Lower On Demand Worries

Crude oil prices drifted lower on Monday amid continues worries about outlook for energy demand due to rising coronavirus cases in India.

However, the downside was limited on reports the Organization of the Petroleum Exporting Countries (OPEC) and its allies are likely to delay their plans to any significantly increase crude output for now.

West Texas Intermediate Crude oil futures for June ended lower by $0.23 or about 0.4% at $61.91 a barrel.

India reported a record number of Covid-19 cases for the fifth straight day on Monday and the official death toll also jumped, plunging the country into a humanitarian crisis.

Rising virus cases in India and restrictions to limit the spread will slash fuel demand, analysts said as countries including Britain, Germany and the United States pledged to send urgent medical aid to help battle the crisis overwhelming its hospitals.

Consultancy FGE expects gasoline demand in India to slip by 100,000 barrels per day (bpd) in April and by more than 170,000 bpd in May. India’s total gasoline sales came to nearly 747,000 bpd in March. Diesel demand is expected to slump by 220,000 bpd in April and by another 400,000 bpd in May.

In Japan, a third state of emergency for Tokyo and three western prefectures began on Sunday, affecting nearly a quarter of the population.

Gold Futures Settle Slightly Higher

Gold prices moved higher on Monday, recovering a bit from recent losses, as traders looked ahead to the upcoming monetary policy announcement from the Federal Reserve, due on Wednesday.

The dollar’s weakness amid speculation that Fed Chair Jerome Powell will stick to the stance of super-easy monetary policy.

The dollar index slid to a low of 90.68, but recovered subsequently to 90.84, cutting down its loss to just 0.02%.

Gold futures for June ended higher by $2.30 or about 0.1% at $1,780.10 an ounce.

Silver futures for May closed up by $0.134 at $26.209 an ounce, while Copper futures for May settled at $4.4410 per pound, gaining $0.1050.

In economic releases, a report released by the Commerce Department showed new orders for U.S. manufactured durable goods increased by much less than expected in the month of March.

The Commerce Department said durable goods orders rose by 0.5% in March after falling by a revised 0.9% in February. Economists had expected durable goods orders to spike by 2.5% compared to the 1.2% slump that had been reported for the previous month.

Data on consumer confidence, personal income and spending, and the preliminary reading on first quarter GDP are due later in the week.

European Economics Preview: German Ifo Business Confidence Due

Business confidence survey data from Germany is due on Monday, headlining a light day for the European economic news.

At 2.00 am ET, Statistics Finland publishes producer price data for March.

At 3.00 am ET, Spain’s INE releases producer prices data for March. Producer prices had climbed 0.8 percent annually in February.

In the meantime, Czech business and consumer sentiment survey results are due.

At 4.00 am ET, Germany’s ifo business confidence survey results are due for April. Economists forecast the business climate index to rise to 97.8 from 96.6 in March.

Poland’s unemployment figures are also due at 4.00 am ET. The jobless rate is seen at 6.4 percent in March versus 6.5 percent in February.

Biden Forms Task Force to Explore Ways to Help Labor

The group will issue recommendations on how the government can use existing authority to help workers join labor unions and bargain collectively.


By Noam Scheiber

This Scoop Is Summer Ready

A weighty but clever ice cream scoop from the MoMA Design Store made of shiny cast aluminum alloy is something of a trompe l’oeil piece designed by the firm Aruliden to look like an ice cream cone. It makes for a timely addition to the kitchen arsenal and might also please a Mother’s Day recipient.

Dip Ice Cream Scoop, $28.80 for members, $32 for nonmembers, store.moma.org.

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