Oil Prices Are About To Reverse Course

Oil Prices Are About To Reverse Course

“That would be the road to hell for America,” JP Morgan’s CEO Jamie Dimon said last week, referring to a suggestion that all big banks divest from the oil and gas industry. In the same week, Aramco’s chief executive warned that years of underinvestment in new oil production are beginning to bear fruit, which is … Read more

Wall Street Sees Another Big Commodities Rally In 2022

Wall Street Sees Another Big Commodities Rally In 2022

Even with oil prices now around $95, and commodities across the board dropping amid bearish economic prospects, a lineup of analysts still see another bull run by year’s end. Earlier this week, oil prices fell to a low not seen since January, as traders weighed recession fears, China’s slowing economy, and the potential outcome of … Read more

JP Morgan quant who called summer rebound in stocks says rally could continue even if corporate profits decline

JP Morgan quant who called summer rebound in stocks says rally could continue even if corporate profits decline

Investors worried about the next pullback for stocks might want to pause and consider this: the decline in equity valuations since the start of the year already has exceeded the average pullback of other recessionary periods since the early 1990s, according to JPMorgan Chase & Co.’ s equity as to Marko Kolanovic. While more Wall … Read more

Oil Prices Slide As IMF Sees Global Economy Teetering On The Brink

Oil Prices Slide As IMF Sees Global Economy Teetering On The Brink

By Julianne Geiger – Jul 26, 2022, 1:01 PM CDT IMF slashes global GDP growth forecasts for this year, to 3.2%. Tighter monetary policy weighs on global growth forecasts. WTI crude swung from a gain to a 1% loss on the day. Crude oil prices fell on Tuesday as the International Monetary Fund warned that … Read more

Expect the stock market to be driven ‘more by earnings than the macro,’ says Morgan Stanley’s Wilson

Expect the stock market to be driven ‘more by earnings than the macro,’ says Morgan Stanley’s Wilson

Earnings season will be a key test for the stock market after the S&P 500 last week closed out its worst half-year performance since 1970, said strategists from Morgan Stanley. The direction of stocks going forward will be mostly tied to second-quarter earnings as interest rate hikes and surging inflation reflect the growth slowdown more … Read more

Powell says no guarantee of soft landing for US economy

Powell says no guarantee of soft landing for US economy

Fed Chairman Jerome Powell on Wednesday said there was no guarantee that the central bank can engineer a soft landing for the US economy. “We think that there are pathways for us to achieve the path back to 2% inflation while still retaining a strong labor market. We believe we can do that,” Powell said, … Read more

OPEC+ Fails To Meet Output Target Once Again

OPEC+ Fails To Meet Output Target Once Again

OPEC+ once again fell short of its oil production targets in May on continued production declines in many OPEC members, a survey by S&P Platts found, as cited by OPEC and Middle East managing editor Herman Wang. In April, OPEC alone missed its target by 2.7 million barrels daily, and while there was a slight … Read more

OPEC Considers Extra Large Hike In Oil Production To Compensate For Russia

OPEC Considers Extra Large Hike In Oil Production To Compensate For Russia

The OPEC Joint Ministerial Monitoring Committee is recommending an increase in production by 648,000 barrels per day—higher than what was originally agreed, according to Tweets from Amena Bakr, Chief OPEC Correspondent at Energy Intelligence. The proposed 648,000 bpd output increase would be for July, and another 648,000 bpd increase in August. All members of the … Read more

Has the US economy really shrunk in early 2022? Is a recession near? No. Here’s why.

Has the US economy really shrunk in early 2022?  Is a recession near?  No. Here’s why.

The contraction surprising in the US economy in the first quarter has been written off by Wall Street as a misleadingly weak number that in no way signals an oncoming recession. So how well did the economy really perform? Not bad, it seems. Maybe even pretty good, economists say. “The first quarter was not as … Read more

What To Expect From This Week’s OPEC+ Meeting

What To Expect From This Week’s OPEC+ Meeting

The OPEC+ group is set to meet on Thursday this week to determine the output levels for production beginning in May—and as volatile oil prices stick well above $100 per barrel, the group’s decision could be their most influential one yet. Nevertheless, the market is mostly assuming that OPEC+ will stick with its pre-planned production … Read more