All the major US equity indices are now underwater for the year as Nasdaq finally joined the S&P, Dow, Small Caps, and Trannies. And that has driven Nasdaq into the red for 2018. Source
“But I'm saying in terms of magnitude to feel the pull of bail, we are in a different universe.” Her lawyers have argued that she has many important connections with Canada, and that her health should at least give her reason to remain on house arrest. Meng and her husband Read more…
Update II: After May and Corbyn exchanged vitriol soaked comments (with Corbyn accusing May of “losing control” and May accusing Corbyn of opportunistically attacking her despite having no workable alternatives), the pound has broken below $1.26. Headlines are rolling in: UK'S MAY CONFIRMS SHE'S PULLING BREXIT VOTE IN PARLIAMENT MAY: Read more…
Authored by Irina Slav for Oilprice.com, The US Geological Survey has revised the technically recoverable reserves in the Wolfcamp Basin, in the Permian shale play, to 46.3 billion barrels of crude and 281 trillion cu ft of natural gas. That's up from 20 billion barrels of crude and 16 trillion cu ft Read more…
Observing the weakening global growth signals, which as we noted earlier dragged both Europe and Asia lower, in his latest note McEllgiott warns that despite the fading inflation impulse and slowing global growth due to “restrictive financial conditions,” which has further depressed risk-taking sentiment across trading desks on Monday morning, Read more…
If support holds here over the next few days it would build the case that a bottom is beginning to form here. Alternatively, a close below that level would signal a resumption of the long-term downtrend with a measurable downside swing target of 2445. There is support at the early Read more…
Update: After being greeted by jeers from the House of Commons, May has confirmed that she will be cancelling the vote and returning to Brussels to try and work out a more agreeable arrangement for the Irish backstop that will address the concerns of Brexiteers. The jeers grew louder when Read more…
According to the BLS, after a downward revision in the September job openings from 7.009MM to 6.960MM, in October this number surged by 119K to 7.079 million, the second highest number of job openings on record. The number of job openings decreased in state and local government, excluding education (-38,000) Read more…
In a dramatic reversal to market sentiment that JPM's head quant could only ascribe to even more “fake news”, SocGen's Kit Juckes writes this morning that “a week ago, market sentiment was optimistic after the G20 meetings in Buenos Aires. That's a reminder not to read TOO much into Monday Read more…
Keeping an eye on them, and UK-focused banks, might give macro investors a clue as to what the market believes the next steps on the Brexit trail will be. But with several MPs interpreting the delay as the effective 'defeat' of May's deal, analysts at Mizuho say the pound could Read more…