oilprices
Less than a week after Iranian aerial attacks on Israel, the latter retaliated by striking some military targets in Iran overnight. The attack was described as 'limited,' with no significant damage or casualties reported. However, this development surprised the markets, especially following extensive diplomatic efforts by the United States and its European allies to prevent further tensions in the Middle East. Following the news, oil prices and gold saw an increase, whereas European stock markets dipped this Friday. This turn of events has prompted investors to ponder if this recent flare-up b...
Euronews (English)
Both oil benchmarks gained in early trading, initially jumping over 3% on news of explosions in Iran. Global benchmark Brent traded 1.73% higher at $88.62 a barrel after topping $90 earlier, while US West Texas Intermediate (WTI) rose 1.75% to $84.1 per barrel. The price of gold also rose to a fresh all-time high of $2,411.09 per ounce, as investors turned to the deemed safe haven asset. "Financial markets had a rough week amid escalating tensions in the Middle East after reports of explosions and a possible Israeli airstrike in Iran. This added to investor concerns following disappointing cor...
Euronews (English)
By the afternoon, the FTSE 100 lost some steam, however, and hovered around 7,948.52. The blue-chip index was boosted by mining and commodity stocks with shares in BP and Shell both jumping around 3%, supported by higher oil prices. Oil prices rise: What's pushing up the cost of crude? Shares in mining stocks Fresnillo, Anglo American and Glencore also helped lift the FTSE 100, up 7%, 4% and 3%, respectively. “The ongoing rise in oil prices amid a tighter supply outlook is a worry for corporates and consumers as it is a major inflationary force,” Russ Mould, investment director at AJ Bell, sai...
Euronews (English)
ValueWalk
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 ...
ValueWalk
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 ...
ValueWalk
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 ...
ValueWalk
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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