Oil prices dropped steeply Oct. 14, with crude oil futures falling 4.6 percent to $81.84 per barrel — the biggest decrease in more than two years. Brent crude dropped by more than $4 a barrel at one stage in the day, dipping below $85 for the first time since 2010.
Gold prices spiked at the start of U.S. trading on Wednesday, leaping to 1-month highs as Wall Street's stock market dumped 1.7% at the opening after much weaker than expected U.S. retail sales and factory-gate price data.
The Commerce Department reported(.pdf) that retail sales unexpectedly fell last month, down 0.3 percent in September after an increase of 0.6 percent in August. The declines were broad-based and this is a possible indication of slowing growth in the U.S. economy.
There have been a lot of stories over the past few years about the implications of the U.S. shale boom. To review for those who might have been living in a cave for the past 5 years, the marriage of horizontal drilling and hydraulic fracturing (fracking) has...
For the last 3 years, European Brent has mostly traded in a range of $100-$120 with West Texas intermediate selling at a $5 to $20 discount. But in September Brent started moving below $100 and now stands at $90 a barrel, and the spread over U.S. domestic crude has narrowed.
Futures markets have shifted expectations for the Fed's liftoff further out in time. The July-15 Fed Funds futures contract is only pricing a 12bp Fed Funds rate increase from the current levels — not enough for a full hike.
A favorable start to the bank sector results should help stocks overcome global growth fears, at least for today. Banks’ domestic orientation limits the significance of their results to the ongoing growth worries, but their positive results are nevertheless welcome.
Oil is priced in dollars. So what? Currencies are fungible. Even if one did need dollars to buy oil (they don't), the pound, Swiss francs, euros, and every other major currency on the planet can instantaneously be exchanged for any other currency at will.
What is the general feeling and outlook among top market technicians right now? Robin Griffiths spoke with Financial Sense Newshour this past week as the International Federation of Technical Analysts met in London and said, “no one is expecting a crashing wipeout right now"
In this business it has been said, “Sometimes knowing the right question is more important than actually knowing the answer.” Over the years I have found that old Wall Street axiom to serve me well.