Tuesday, April 25, 2017

The Energy And Market Page, T+94 -- April 25, 2017

Whoopee! EW up 10% on strong earnings, strong guidance. Up 1% during the day; up 10% after-hours trading. Wow, wow, wow. 

Boom. NASDAQ hits 6,000 for first time. CNBC talking heads' response: hmmmm, confusion.

Boom. Quite a day yesterday. One always wonders what the next day will bring after a day like yesterday. Right now futures up 108 points for the Dow 30.

Boom: 261 issues on the NYSE hit new 52-week highs today (after a huge run-up yesterday):
  • new highs include: CAT, MCD, 
  • new lows: 16
Boom: 252 issues on the NYSE hit new 52-week high yesterday; new lows, only 16

Bust: could Aramco be worth $500 billion less than Saudis think?

No traction: WTI trades near $49.

Surprise. Iran now ranks as #2 oil supplier to South Korea, the first time Iran has ever achieved that distinction: #2 supplier to South Korea for a full quarter.

SAX. I don't think there's a ticker symbol yet for the Saudi Aramco IPO. I'm not even sure it's been formally announced which exchange SAX will go with: a New York exchange or one in Europe or London. Saudi announced two advisors earlier (JP Morgan Chase and Morgan Stanley) and now announces a third: HSBC Holdings, Europe's biggest bank. 


Surprise: talking head over at CNBC repeats something that analysts have been saying for qite some time:
  • no (significant) inflation now
  • no (significant) inflation on the horizon
  • US inflation concerns misplaced
Macroeconomics is way beyond "my pay grade" as we used to say. Googling the issue will probably provide more than enough discussion on both sides of the issue. Right now, it's an open-book test.

No comments:

Post a Comment