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Oil Spikes, Stocks Suddenly Dump During Warsh Hearing

It's unclear what exactly is driving but the markets are reverting back to old habits this morning with oil spiking...

...dragging Treasury yields higher...

Stocks are tanking...

And so is gold...

There were no obvious geopolitical headline catalysts for the move - though uncertainty remains high about the next 24-48 hours in the Middle East.

Some have suggested the following comment from Fed Chair nominee Kevin Warsh may have helped (or hindered): “There’s probably no more pressing question than the cost of living.”

Though that does seem like fitting a narrative after the move, the odds of a rate-cut have deteriorated rapidly...

Developing...

Tyler Durden Tue, 04/21/2026 - 11:09

"That was a trap!" Ritter jokingly exclaimed.

He stepped down as the Steelers head coach in January after 19 seasons.

Two US Embassy officials killed in a car crash in Mexico following a daring raid on a secret drug lab were working for the CIA at the time, according to security officials. The pair, who haven’t been named, were killed along with two Mexican officials when their car plunged 600 feet off a cliff and...

Jami Gertz and husband Tony Ressler, with whom she shares three sons, attended a Los Angeles County Museum of Art gala last Thursday.

Jami Gertz and husband Tony Ressler, with whom she shares three sons, attended a Los Angeles County Museum of Art gala last Thursday.

Here is everything we know so far about the future of this hit series.

The couple are parting ways with the 81 Walker St. home they shared now that they're residing in McNeil's native Australia.

Billy Donovan didn't want to stick around for a new Bulls regime.

"The situation is definitely very fragile, prices are expensive... We ​have no choice but to transfer the costs right now to ⁠the customers," CEO Goh Miah Kiat said in an interview with ​Reuters.

“I’m the only guy in Hollywood who loses money going to Saudi Arabia.”

The California Department of Fish and Wildlife told KTLA they are in contact with the family.

The Condé chief insisted on changing one important detail in the film.

The Condé chief insisted on changing one important detail in the film.

Wheat Spread Blows Out As Drought Chaos Plagues America's Breadbasket

Hard red winter wheat (HRW) futures widened to their largest premium over soft red wheat (SRW) in more than two years as severe drought intensified across key breadbasket regions in the Great Plains and Midwest. This means traders are pricing in weather impacts and tightening expectations for higher-protein wheat supplies.

It is important to note that HRW is a more valuable protein and is primarily used in bread, rolls, and all-purpose flour. It is grown in the U.S. Plains (Kansas, Oklahoma, Texas), while SRW is used in cakes, cookies, crackers, and pastries, and is grown in the Eastern U.S. (Ohio Valley, Midwest, Southeast).

The blowout in the HRW-SRW spread, the biggest premium in two years, is mainly due to weather stress as drought grips the central U.S. The market is currently pricing in possible supply imbalances and quality concerns for HRW.

As of mid-April, 61% of the Lower 48 is in drought as the Northern Hemisphere growing season begins and farmers start plantings, according to NOAA. This equates to nearly 149 million people across the Lower 48 affected by drought. About 45 states were experiencing moderate drought conditions as of last week.

US Drought Map:

The drought also complicates matters for ranchers, as the nation's cattle herd is already at its lowest level since the 1950s. As a result, some ranchers may further reduce their herds, which would only push USDA ground beef prices to new record highs.

Related:

• Meteorologists Warn About Super El Nino Event

• Washington, D.C. Will Feel Like June. Cue MSM Climate Doom Propaganda

• Drought Engulfs 60% Of U.S. As Farmers Begin Spring Planting

The drought spreading across America's breadbasket is colliding with a secondary effect sparked by the disruption of energy flows through the Strait of Hormuz, raising the risk of fertilizer shortages that could translate into lower crop yields later this year. Reuters has reported that the UN's food agency warned a prolonged Hormuz crisis could destabilize fertilizer shipments and drive food inflation higher. Time to hedge with a backyard garden.

Tyler Durden Tue, 04/21/2026 - 10:40

Back away from the cold brew. 

An injury may keep Carlos Alcaraz from going for a three-peat at the French Open.

Iran’s armed forces said they were prepared to confront U.S. forces after what they called “blatant aggression” against an Iranian commercial ship in the Sea of Oman, though they held back due to the presence of crew members’ families onboard. Iran condemned the incident as “armed piracy,” while the U.S. said the action was part...

Anthony Richardson and the Colts are living apart while they attempt to finalize their divorce.

A 12-year-old girl drowned after her hair got stuck in a pool suction pump, trapping her underwater for more than five minutes.