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Tuesday, August 1, 2017

The Energy And Market Page, T+193 -- August 1, 2017

Updates

August 3, 2017: the US dollar has plunged on Trump's watch.

Original Post

Dow 30 futures: market could open above 22,000 -- completely uncharted territory. No analysis why the surge -- right now, after a triple-digit jump yesterday in the Dow 30 -- futures now show another triple-digit jump on opening.

What happened? So what happened in the past 12 hours that would lead to this surge?
  • weak dollar
Let's stop there and add two links:
Now that we know more about the DXY, let's post the graphic:



Okay, so where were we? what happened in the past 12 hours that would lead to this surge?
  • the dollar continues to weaken (no sign it will change; debt limit needs to be raised -- soon)
  • another retired general officer joins President Trump's inner circle
  • news that 73% of companies reporting so far in this earnings season have reported "beats" on both top and bottom lines
  • crude oil: cheaper for longer (or as Shell says, "cheaper forever")
  • more reports of overseas investment in the US -- including physical plants, not just financial investments
  • money remains cheap; 10-Treasury bonds dropped below 3%, a floor of sorts

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