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
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.
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Inflation
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
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