The last two days have seen WTI/RBOB prices soar (as trade-war fears ebb and Saudi hopes for higher prices) but they gave a little back after API reported a surprise crude build and notable Gasoline build. API Crude +1.758mm(-1.25mm exp) Cushing +1.452mm (+2mm exp) Gasoline +2.005mm Distillates -3.849mm Last week’s surprise Crude draw (and expectation of…
Today’s comments from China president, Xi Jinping that China was willing to open its markets, soon lent equities a helping hand. From a lower core opening, it was not long before all started to move from strength to strength. Shanghai and the Hang Seng reacted most to the speech and saw returns of around 1.75%…
Top tickers for end of day: AET, BAC, FB, AAPL, MON, T.
Earnings Season Saved The Market Earnings season will be starting this month. That’s a welcome relief for the stock market which has been dealing with a lot of negative headlines mostly from the tariff battle with China. The market is in an unusual situation where earnings growth is remarkably strong even though the business cycle…
Look, I want us to keep pushing higher. I am positioned for the market to go higher. But the bulls are stuck in this nasty sideways trading pattern that keeps seeing hard reversals in both directions. That makes it hard to make any sustainable progress in the stock market. Today is a good start for…
After having everything but the kitchen sink thrown at it over the past few days USDJPY has managed to withhold the risk aversion flows and trade above the 107.00 level by end of trade today. The never-ending political chaos in Washington DC no longer seems to have much impact on the pair as the friction…
Global markets are rallying today after Chinese President Xi Jinping appears to have taken the first step in backing away from a trade war with the U.S., promising to cut tariffs on auto imports and other products. In a widely anticipated speech at the Boao Forum for Asia, dubbed as the “Asian Davos,” Xi used…
“Davidson” submits: If I understand the US$/$WTI/Economic Expectations/Capital Risk-Reward relationship, Trump’s action against Syria, which is really an action against Russia, Iran, N. Korea, China efforts to attact Democratic ideals, should be reflected in a weaker US$ as capital repatriates to Emerging Markets. Algorithms have connected a belief that strong US$/ weak $WTI signals slowing economic activity….
Some time ago, I confessed to CapX readers my unease about pricing cryptocurrencies such as bitcoin. I wasn’t alone in my hesitation: New York University finance professor Aswath Damodaran has voiced skepticism that assets with no cash flows can be valued, in the financial sense of estimating what the future payoffs from holding the asset are worth. Not to…
Stan Weinstein states in his amazing book that choosing the right sector to trade is just as important as trading with the overall market trend at your back. Just in the past year in 2017 we’ve seen this concept front and center with semiconductor stocks, cannabis stocks, and even bitcoin-related stocks all experiencing massive gains as…
