Reminder: Today is the deadline for selling to take tax losses in 2020
Sell today if you’re looking to sell to generate tax losses for 2020. After today, December 29, you can still sell but the losses will count for the 2021 tax year.
YPF
Oil continues to move higher on Middle East fears
Oil futures in New York settled at their highest since December 2014. U.S. benchmark West Texas Intermediate climbed 0.35% to close at $68.88 a barrel. International benchmark Brent crude rose 0.88% to $74.71 a barrel. The gains were unusual in that the U.S. dollar strengthened today. But the markets had news of another missile attack on Saudi Arabia–again unsuccessful–by Houthi rebels in Yemen. The Houthis are backed by Iran and Yemen has become a proxy war for power in the Middle East between Iran and Saudi Arabia (and by extension, Russia and the United States.)
Sector Monday: Norway’s wealth fund moves to get out of oil–should you follow? My five rules for thinking about investing in oil and natural gas now.
Norges Bank Investment Management, the entity that runs Norway’s $1 trillion sovereign wealth fund, has recommended that the fund, which invests the country’s take from oil and gas revenue from production from its own reserves, sell off its shares in oil and gas stocks. The fund owns $35 billion in oil and gas shares. Should you follow suit?
MSCI decides not to tango with Argentina yet
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Today it’s all about oil–again
Today’s moves take oil to a 7-month low. And oil is now in an official bear market for 2017 with West Texas Intermediate down 20% from its February 23, 2017 high at $54.45 a barrel. Why the tumble?
