Is the advance sustainable? As all know the Dow posted it worse start of the year in history. The reason for the recovery…data suggesting the economy is not falling into the abyss, emerging pricing pressures, a 50% recovery in oil from its lows, a falling...
Equites advanced yesterday as the dollar fell and oil advanced. Thirty days ago most believed such a scenario could not develop. Commenting about the dollar, the dollar declined as the Fed indicated only two possible rate hikes versus four. However I cynically ask did consensus...
The debt and equity markets fluctuated amid the post Fed meeting statement. The dollar dropped and oil gained almost 6%....
Monday was the slowest trading day of the year. Yesterday was the second slowest according to CNBC. Today is the conclusion of the two day FOMC meeting. No change is expected but as written a gazillion times the post meeting statement and press conference will...
Trading was subdued yesterday as many were fixated on the 200 day moving average of the S & P 500. As widely discussed, the index is hovering right at the long term trend line, which represents the average closing for the last 200 sessions. The...
Equities were relatively quiet as Treasuries fell, crude rallied and the euro erased a loss versus the dollar on speculation of the size and scope of any additional stimulus from the ECB....
Will today’s unemployment data confirm or deny the emerging narrative the US economy is gaining momentum? Data released in recent weeks is suggesting first quarter growth is perhaps accelerating from last quarter’s 1.0% level to 2.5% to 3.0%....
Equities fluctuated following a rebound in crude prices. Inventory data suggested gasoline demand is increasing. As noted yesterday, US production is now at the lowest level since November 2014 and OPEC production declined in February for the first time in several years....
Yesterday I commented OPEC oil production declined by 79,000 barrels during February, the result of lower Iraqi output which declined by 125,000 barrels. Several times I remarked that according to the Iraqi oil minister its 2016 daily production may decline from 4.4 million to 3.9...
Until 3:00 P.M. there is little to write about yesterday’s market action. Equities were flat, the dollar fell and oil rallied. Then there was a selloff, minor in regards to the selloffs’ past but enough to send the S & P down for the third...