Sempra Mexico recorded a net loss of $9 million in the second quarter 2017, compared with earnings of $57 million in the second quarter 2016, due primarily to a $47 million impairment the company recorded on the Termoélectrica de Mexicali power plant, which is being held for sale, as well as unfavorable foreign-currency and inflation effects.
For the first six months of 2017, Sempra Mexico had earnings of $39 million, compared with $75 million in the same period last year.US oil production: US production at its highest since July, 2015, and shale producers like EOG Resources are boasting higher production targets in their earnings reports. And producing more for less.
Futures: up again. All indices in the green, pre-market. Dollar continues to fall; now $1.18 per euro. In Britain, $1.31 will buy you a British pound. I remember paying $1.64 for a British pound when we were stationed there years ago. In 2008, it took almost $2 to buy a British one-pound coin. Ouch.
Trump rally: it's all about the ten-year Treasury. Down to 2.23%. KMI offering $1.2 billion in notes in refinancing effort: 5.5% coupon bonds with notes likely to yield around 3.2%. Wow. Would it surprise anyone if Apple did the same thing? LOL. A quarter-trillion dollars in cash.
Greenspan speaks: on CNBC this morning, a profound statement -- low bond yields won't last forever. Okay.
Jobs: July numbers --
- forecast: 180,000 jobs added; unemployment to tick down to 4.3%
- actual: 209,000 jobs added; unemployment rate ticks down to 4.3%; participation rate: 62.9%
- in addition:
- June, 2017: revised up from 222K to 231K (huge)
- May, 2017: revised up from 145K to 152K (huge)
- record number employed: 153,513,000
- exports up
- imports down
- weak dollar
- trade balance narrowed for first time in a long time
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