Saudi Aramco cancels London IPO roadshow, cuts size of offer
The oil markets aren't amused today, November 18, at news that even at a reduced price investors are balking at buying shares of Saudi Aramco's initial public offering. Â Crown Prince Mohammed bin Salman had initially set a goal for the sale of reaching a valuation $2...
Odd day: stocks rise on bank earnings oil falls on global growth fears
Good earnings news from big U.S. banks drove U.S. stocks higher today. As of 3 p.m. New York time, the Standard & Poor's 500 was up 1.10% and the Dow Jones Industrial Average was ahead 1.03%. The NASDAQ Composite had climbed .28% and the Russell 2000 small cap...
Trick or trend: Missiles (maybe) hit another tanker–this time from Iran–in the Red Sea
Our regular (or occasional or perhaps occasionally regular) Friday series (actually running on Friday this week) Trick or Trend looks at what might (or might not) be emerging investible trends. Exclusively on JAM. This post won't run anywhere else. Ever. The news on a...
Oil slide today seems about right after yesterday’s spike
Yesterday, Monday September 16, oil prices moved massively higher after drones knocked out half of Saudi Arabia's oil production capacity over the weekend. Today, Tuesday September 17, oil prices gave back about half that spike with U.S. benchmark West Texas...
Oil pops more than 10% on drone attack in Saudi Arabia–where does it go from here?
Oil prices are higher--much higher--today after a drone attack on Saudi Arabia's Abqaiq processing center knocked out 50% of the country's oil production. As of 1 p.m. New York time U.S. benchmark West Texas Intermediate was up 13.58% to $62.30 a barrel. International...
Bolton departure from White House sends oil tumbling
The resignation/firing of John Bolton, a long-time advocate of military action against Iran, as National Security Advisor to President Donald Trump, has send oil prices tumbling today. U.S. benchmark West Texas Intermediate is down 2.42% to $56.01 a barrel....
Market rides energy shares higher
This morning the U.S. Energy Information Administration surprised the markets with the report of a bigger than expected decline in oil stockpiles. Crude inventories fell by 10 million barrels for the week ended August 16. The prior week showed a drawdown of 2.7...
Stocks fall in wave of bad news–but hold up better than expected (all things considered)
As of noon today New York time, the Standard & Poor's 500 and the Dow Jones Industrial Average are both down 2.42%. The NASDAQ Composite is lower by 2.78%. The Russell 2000 small cap index has tumbled 2.66%. And the iShare MSCI Emerging Markets ETF (EEM) has...
Oil inventories spike–confirmation and not a surprise
The U.S. Energy Information Administration reported today that crude oil inventories showed a build of 2.39 million barrels for the week ended August 2. This comes after a drawdown of 8.5 million barrels in the prior week. The build snapped a seven-week long string of...
Selling my Parsley Energy call options out of my Volatility Portfolio
Shares of Permian Basin oil shale producer Parsley Energy (PE) were up 16.45% as of 3 p.m. New York time this afternoon. The company reported second quarter earnings of 32 cents a share (after adjusting for a one-time tax-related gain). Unadjusted earnings came to 41...
President’s remarks remind markets there’s still a trade war going on
At a cabinet meeting today President Donald Trump wanted to remind everyone that he could still impose additional tariffs on Chinese imports if he wants. The President also expressed impatience that the truce in the trade war with China hadn't yet resulted in a pickup...Jim’s Stock Alerts
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