oilprices
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While the capital markets are expecting the U.S. Federal Reserve to maintain its hawkishness, they don’t think it will be for long. The anticipation of rate cuts should prop up prices for oil as demand increases. Furthermore, economic data is supporting the notion that rate cuts could be on the way. The Fed could see incoming data and pivot from their tightening monetary policy. This could be to the benefit of bullish oil traders. “With the manufacturing sector languishing and inflation showing encouraging signs of slowing, the widely-anticipated July Federal Reserve interest rate hike may be ...
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In his podcast addressing the markets today, Louis Navellier offered the following commentary. Strong EconomyThe Labor Department on Thursday reported that weekly unemployment claims rose to 242,000 in the latest week, up from a revised 229,000 in the previous week. Continuing unemployment claims declined to 1.805 million, down from a revised 1.843 million in the previous week. This drop in continuing claims was good news, since in the previous week, it was at the highest level in 16 months. Then on Friday, the Labor Department reported that 253,000 payroll jobs were added in April, which was ...
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A Mixed Bag Of News On The Inflation FrontOn the inflation front, we have a mixed bag of news early this week. A surprise announcement from OPEC+ to reduce output by one million barrels per day led to a jump in prices. Oil prices were leaking through mid-March with growing recession risk on the horizon in light of the recent banking crisis, so this price bump certainly isn’t great news for either the Fed or consumers’ wallets. Q1 2023 hedge fund letters, conferences and more Market analysts generally note that supply and demand for oil are currently locked in a delicate balance at this point g...
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In his podcast addressing the markets today, Louis Navellier offered the following commentary. Blaming Bank ExaminersThe Congressional hearings about the failure of Silicon Valley Bank essentially blamed the banking examiners as the primary scapegoat. An inverted Treasury yield curve is what ultimately caused Silicon Valley Bank to fail, but this bank held much more long-term Treasury bonds than most other banks. Q4 2022 hedge fund letters, conferences and more The other culprit that took out Silicon Valley Bank was a spike in Treasury yields in February in the wake of the unexpectedly strong ...
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In his podcast addressing the markets today, Louis Navellier offered the following commentary. Confident In Energy StocksWe are now more than 51% through the current earnings announcement season and the average S&P 500 sales surprise is 0.8%, while the average earnings surprise is just 1.2%. The FAANG stocks, with the exception of Netflix, all posted disappointing results. As expected, energy stocks are posting the strongest results of any sector, but energy stocks have slipped slightly to 4.9% of the S&P 500 and many investors remain worried about low natural gas prices as well as sputtering ...
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In his podcast addressing the markets today, Louis Navellier offered the following commentary. Rate Hike LikelyThe Labor Department on Thursday reported that unemployment claims rose to 225,000 in the latest week from a revised 216,000 in the previous week. Continuing unemployment claims increased to 1.710 million in the latest week from a revised 1.669 million in the previous week. Interestingly, continuing unemployment claims have been steadily rising since October. Q3 2022 hedge fund letters, conferences and more However, unemployment claims are still too low to impact Fed policy, so a Febr...
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In his podcast addressing the markets today, Louis Navellier offered the following commentary. The market tried to rally this morning, but then it fizzled since there is no volume. It’s hard for the market to do anything when no one is around. Normally there’s quarter-end window dressing and some positive action in the last week of the year, but this year it doesn’t exist which is unfortunate. Q3 2022 hedge fund letters, conferences and more More Rate HikesThe other thing that's overhanging the market is bond yields. The 10-year Treasury bond yield is 3.87% right now which is pretty high. It h...
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In his podcast addressing the markets today, Louis Navellier offered the following commentary. EV IronyTesla Inc (NASDAQ:TSLA)’s planned 8-day shutdown of its Shanghai plant is being extended due to rising Covid cases in China. The company now has sufficient inventory of its electric vehicles (EVs) and continues to offer discounts to try to sell its EVs amidst increasing competition in China. Furthermore, the U.S. tax incentives to buy an EV have expired for Tesla in 2022, so in the U.S., Tesla is offering $7,500 discounts on Model 3 and Y EVs, plus 10,000 miles of free charging during Decembe...
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In his podcast addressing the markets today, Louis Navellier offered the following commentary. Global Interest Rates RisingThe big news is long-term interest rates are now rising around the globe. The US 10-year Treasury bond yield is 3.69% today. The German 10-year yield is 2.29%, the Italian 10-year yield is 4.47%, Spain’s 10-year yield is 3.4% and Britain’s 10-yield is 3.62%. But the real surprise is Japan. Japan’s 10-year bond yield is now 0.42%, up from 0.26% yesterday. So the Bank of Japan is now going to allow rates to rise as it is trying to defend the yen because it’s been very weak d...
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