Why the Monthly OPEC Report Was Bearish Oil An excerpt from today’s Sevens Report—get a free 2-week trial of the report with no commitments. Oil remains the big story, as its early morning sell-off to multi-month lows prompted a pullback in stock futures, and ultimately the major US equity indices opened lower. WTI futures finished[…]
How Far Could Stocks Go? Stocks have screamed to all-time highs in recent weeks, and with new highs always comes the question of how far could stocks go? We like to regularly offer fundamental valuation updates as we did two weeks ago, but it is also important to outline what the charts are telling us[…]
This is an excerpt from today’s Sevens Report. Sign up for your free two-week trial to get everything you need to know in your inbox, by 7am in 7 minutes or less. We have recently been monitoring the calendar spreads and term structure of WTI crude oil futures with a little more attention, as there[…]
An excerpt from the Sevens Report. Sign up for a two-week free trial of the full report at www.7sReport.com. Yesterday I began profiling a couple of non-political risks to explore when making decisions for your clients and talking with prospects. Here’s the second: Non-Political Risk 2: A More Hawkish-Than-Anticipated Federal Reserve Profiling this risk seemed only natural,[…]
An excerpt from today’s Sevens Report. Non-Political Risk #1: Economic Growth Slows. Stronger economic data remains an unsung hero of this post-election rally, and while Trump gets the headlines, it’s really the economic data that’s enabling this rally as better economic growth is allowing the market to continue to give Trump and the Republicans the[…]
Last Week: There was very little incremental economic data last week, and what reports did come met expectations and importantly did nothing to change the perception that economic activity is legitimately accelerating—a perception that continues to support stocks broadly. From a domestic data viewpoint, there isn’t a lot to talk about. Jobless claims continued to[…]
Natural gas futures continued to climb yesterday as weather reports are forecasting colder than average temperatures well into 2017 which is raising prospects for more larger than average supply draws.
Natural gas surged nearly 10% yesterday thanks to speculation that colder temperatures across the country will boost heating demand and in turn, draw down elevated inventories.
Copper futures finally violated the post-election uptrend yesterday suggesting that some profit-taking will likely occur in the coming sessions. $2.50 should be looked to for initial support in the US futures contract.
WTI crude oil futures surged last week, but have yet to materially break out of their multi-quarter trading range between $40 and $50/barrel. Today, focus will be on the weekly EIA inventory report to see if the data can help propel the energy market back to fresh highs.