Notes You Need for September 20: Apple, Airbnb, home sales, U.S. crude inventories, iPhone8
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OPEC meets Friday and oil market moves into “guessing” phase
Want to play along as the oil market tries to guess what OPEC will do at its Friday meeting? West Texas Intermediate moved down, slightly, to $49.56 a barrel, a 0.7% retreat, as of 3 p.m. New York time. International benchmark Brent moved 0.52% lower to $55.19 a barrel. The question is What’s priced into this market?
All eyes on the Fed’s Dot Plot after Wednesday’s meeting
On this Wednesday, when we get the September Dot Plot from the Federal Reserve, the key dots to watch are for inflation and interest rates, again. Wall Street opinion is starting to look for a lower inflation central tendency for 2018 of 1.5% rather than the 1.8% of June. On interest rates, thoughts are that the central tendency for 2018 might drop further at the high end of opinion to 2.5% or even lower.
Saturday Night Quarterback says, For the week ahead expect…
Expect the Federal Reserve to stand pat on interest rates at the Wednesday, September 20, meeting of its rate-setting Open Market Committee. And for the Fed to announce the schedule for implementing the first stage of its plan to reduce the size of its $4.5 trillion balance sheet. Unless the Fed wants to toss a bomb into global financial markets–which would be totally out of character with the Janet Yellen Fed–the U.S. central bank will leave its benchmark interest rate in the current range.
Trick or Trend: Is the iPhoneX the death of the Apple “ecosystem”?
Almost every new feature for the iPhone unveiled by Apple at its Tuesday event  relies on custom chips that it designs in-house.  That development is the logical endpoint of Apple’s years-long expansion of its in-house chip design team. The company promoted the chief of that team, Johny Srouji, to its executive team in late 2015. It’s pretty clear from the iPhoneX and earlier models (plus other devices such as the Apple Watch) that Apple sees its ability to develop dedicated processors in-house to power particular features from the Apple Watch’s fitness tracker to the wireless connections in its AirPods as a critical competitive advantage going forward.
Notes You Need for September 15: Coffee, lithium, SQM, wind power, retail sales, U.S. oil production, DVN, biotech, Acadia Pharmaceuticals, rig count
In my daily trawling through the market I come upon lots of tidbits of knowledge that I think are important to investors but that don’t justify a full post. I’ve decided to start compiling these notes here each day in a kind of running mini blog that I’m calling Notes You Need. I launched this new feature on JubakAM.com on December 1. It runs only on JAM and won’t appear anywhere else. For example, 10:20 a.m.: Coffee-fanatic favorite Blue Bottle has been acquired by Nestle.
Odds of a Fed interest rate increase move up–for December
Yesterday’s report of a slight uptick in inflation has pushed odds higher for a December interest rate increase from the Federal Reserve. The report, however, had no effect on odds in the Fed Funds Futures market for an increase at the Fed’s September 20 meeting.
Natural gas stocks up today on rise in LNG prices in Asia
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Autoliv soars on news that the company might split its auto businesses in two
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Wall Street starts to pick at the new iPhones–and at Apple shares
Wall Street has started to pick at the details of Apple’s (AAPL) September 12 iPhone event. And it’s not liking all the details on second (or third) look. Apple’s shares finished down 0.86% today, September 14. Apple has closed lower in all three trading sessions since the product announcement. Not massively but still…
Here we go again: Oil supply and demand “near” to balancing
If you think you’ve heard this before, you’re absolutely right. Nonetheless, oil rallied today on a forecast from the International Energy Agency that oil stockpiles in developed countries could hit or fall below their five-year average “very soon.” West Texas Intermediate, the U.S. crude benchmark, closed up 2.2% to $49.30 a barrel. That brings us back near to the $50 level that has defined the top of the range in oil prices for much of 2017. (The high for West Texas Intermediate in 2017 is $54.45 a barrel back on February 23.)Â
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