The U.S.-led strikes against Syria turned out to be a non-event as far the markets are concerned and fortunately there were no reports of casualties. Only three targets were hit and the wave of strike action has already been declared to be over -– at least for the time being, anyway. However, investors still remain wary of the potential for tensions to escalate between Russia and the West.
Mission accomplished. No, I'm not talking about the trade war, but we could be seeing progress on that, and not the attack on Syria, that has not happened, yet. No, we are talking about the global oil market rebalancing. The International Energy Agency that previously warned of lower for longer oil prices and warned last year that the oil price recovery was threatened by the possibility of weak demand now has changed its tune and is now saying that it is 'mission accomplished' for OPEC as oil stocks shrink at a record pace.
The markets started Thursday’s session once again very quietly with the major currency pairs moving very little throughout Asian and the first half of the European session before another tweet from President Donald Trump caused volatility to spike. After stoking fears yesterday that an attack on Syria was imminent, today he appeared to backtrack slightly.
U.S. stocks tumbled Monday as President Donald Trump continued his criticism of Amazon, sending those in the technology and consumer discretionary sectors lower. The selling also comes ahead of the Trump administration's plan to unveil this week the list of Chinese imports targeted for US tariffs. The list of $50 billion to $60 billion worth of annual imports is expected to target "largely high-technology" products.
Shale predictions and price predictions, sometimes they just do not get it. According to an article in today's Financial Times, OPEC is shocked by how many hedge funds really have no clue about how the oil market works. OPEC’s Secretary General Mohammad Barkindo, who met with hedge fund managers, seemed shocked that many of them had no "basic understanding" of oil and were less savvy than was widely assumed.
U.S. equity markets are on course to open relatively unchanged at the start of the week after bouncing back from early losses on Friday, which came as Donald Trump announced tariffs on steel and aluminum.
A potential trade war and Russian meddling, not in an election but to try to influence U.S. energy policies, is all the rage in the financial markets today. U.S. stocks plummeted after President Donald Trump slowed the market with the timing of his announcement that he would impose a 25% tariff on steel imports and 10% on aluminum.
You can’t say I didn’t warn you. A week ago, markets, especially the Dow, hit 610 days from the August 2015 bottom. Most market participants are not aware of it unless they read me or a small handful of other market cycle experts. The challenge I’ve had is the bigger time windows from last September and October didn’t seem to fire off as usual. It was the first time in 19 years an important window didn’t seem to fire off.
U.S. equity markets posted their biggest one-day loss since August 2017 with the Dow dropping 362 points and the S&P 500 losing 31.10, both over the 1% mark. The fall came just hours before the President gave his State of the Union speech on Capitol Hill and hailed the strength of the U.S. economy, the strength of the stock market and the continued trend of job creation.
War is over if you want it to be, President Donald Trump said in his State of the Union address on Jan. 30, where he once again declared, “We have ended the war on American Energy and we have ended the war on beautiful clean coal. We are now an exporter of energy to the world, as well as stating that the era of U.S. economics surrender is over.”