Stocks roar ahead on perfect storm of good news
As of 1 p.m. New York time today, May 18, the Standard & Poor's 500 is up 3.17% and the Dow Jones Industrial Average is higher by 3.60%. The NASDAQ Composite has climbed 2.47% and the Russell 2000 small cap index is ahead 5.29%. The iShares Emerging Markets ETF...Trump interview utterly confuses markets ahead of Saturday meeting with China’s Xi
So what  does the United States want out of the Saturday talks between President Donald Trump and Chinese President Xi Jinping? In a Wednesday interview with Fox Business Network’s Maria Bartiromo Trump thoroughly confused expectations. The market consensus had been...So much for the oil rally–crude falls on supply AND demand worries
U.S. benchmark West Texas Intermediate closed down 1.35% today (to $67.83 a barrel) and international benchmark Brent crude tumbled 2.32% to $72.49 on bad news from the supply side and worries about the demand side. On the supply side a report from the U.S Energy...More saber rattling in Korean standoff leads to modest increase in market nervousness
It’s not surprising that the major U.S. stock indexes are down. So far today the North Korean foreign minister has said that President Donald Trump’s threats against his country amount to a declaration of war, and that North Korea has the right to shoot down U.S. warplanes even if they aren’t actually flying in North Korean airspace. Amazing that the Standard & Poor’s 500 stock index was off only 0.38% as of 3 p.m. New York time.
Oil rallies for another day on inventory drop in EIA report
Yesterday’s report from the U.S. Energy Information Administration followed up on the surprisingly good news on July 25 on U.S. crude inventories from the American Petroleum Institute. The numbers from the American Petroleum Institute showed a much bigger than expected draw down of 10.23 million barrels in U.S. oil inventories
Yesterday IMF gave up on Trump reflation trade; today financial markets say, Not yet
Yesterday the International Monetary Fund lowered its forecast for U.S. economic growth to 2.1% for 2017 (from 2.3%) and to 2.1% in 2018 (from 2.5%.) The fund had included a likely infrastructure spending bill and a tax cut/tax reform package in its earlier forecast. Now the IMF ha removed those potential stimulus actions from its forecast. The IMF also poured cold water on assumptions in the draft administration budget for economic growth of 3% in 2021.
Oil climbs as Saudis, Russians agree on continued production cuts
It still has to be ratified by the end of May meeting of all OPEC members, but it looks like Saudi Arabia and Russia have agree to extend current production cuts past their June expiration. U.S. benchmark West Texas Intermediate moved up 2.01% to $48.80 a barrel. The positive surprise in this news, as far as oil markets are concerned, is that the two want to extend the agreement not for another six months but through the first quarter of 2018.
Surprise drop in oil inventories continues rally, leads to warnings about higher prices increasing supply
To subscribe to JAM you need to fill in some details below including, ahem, some info on how you'll pay us. A subscription is $199 (although if you're subscribing with one of our special offers it will be lower) for a year for ongoing and continuing access to the...Oil prices hit 6-month high on temporary supply outages–will this rally run to $55?
To subscribe to JAM you need to fill in some details below including, ahem, some info on how you'll pay us. A subscription is $199 (although if you're subscribing with one of our special offers it will be lower) for a year for ongoing and continuing access to the...Deja oil–this rally looks a lot like last summer’s
To subscribe to JAM you need to fill in some details below including, ahem, some info on how you'll pay us. A subscription is $199 (although if you're subscribing with one of our special offers it will be lower) for a year for ongoing and continuing access to the...How far will this bounce stretch?
It would be a huge boost if the S&P 500 could manage to inch above the 1900 level. Just as important, it would be good for next week if the index didn’t give back most or all of its gains at the end of the session.