But here it is. The headline over at Yahoo!Finance: jobless claims worse than expected. I saw the jobless claims before the headline, and the jobless claims came in exactly in line with expectations. They are "troublingly" high, but they were not worse than expected.Disclaimer: this is not an investment site. Do not make any investment, financial, job, career, travel, or relationship decisions based on what you read here or think you may have read here.
So, no, if the market opens lower it has nothing to do with either "joblessness" or coronavirus. Not only was the "joblessness" headline fake news (and traders will see through that in a New York minute) but the coronavirus is an old story.
I've just run through the headlines on earnings reports and, wow, earnings are really, really good overall. It is quite amazing. We will go through those later.
If the market opens down, there are two reasons:
This is not rocket science.
- profit-taking which headline writers never, never, never seem to admit; and,
- polls showing Biden winning over Trump, and to confirm those polls, Trump sacked his campaign manager.
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Back to the Bakken
Active rigs:
$40.68 | 7/16/2020 | 07/16/2019 | 07/16/2018 | 07/16/2017 | 07/16/2016 |
---|---|---|---|---|---|
Active Rigs | 11 | 56 | 69 | 58 | 29 |
One permit coming off confidential list -- Thursday, July 16, 2020: 45 for the month; 45 for the quarter, 491 for the year:
- 35913, F/A, CLR, Wahpeton 15-16HSL, Banks, t--; cum 137K in three months, see this note;
For almost a year now, Corpus Christi-area marine terminals have been exporting more crude oil than their competitors in Houston, Beaumont, and Louisiana, largely thanks to the recent startup of new, large-diameter oil pipelines from the Permian to Corpus. Beginning today, with the expected arrival of the first supertanker at the spanking-new South Texas Gateway Terminal in Ingleside, the Corpus area will have the potential to widen its lead in export volumes. In addition to its connections to the EPIC Crude and Gray Oak pipelines from West Texas — and the new Harvest Pipeline and the older Flint Hills Resources system — the South Texas Gateway facility can partially load 2-MMbbl Very Large Crude Carriers. Today, we discuss the Gulf Coast’s newest marine terminal and the important economic edge it gains from handling VLCCs.
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