In its latest OPEC Monthly Oil Market Report (October) the oil cartel has increased its oil demand estimates for 2017, 2018 on strengthening world economy, and weaker outlook for supplies from its rivals.
S&P500 futures point to a slightly lower open, as Asian stocks rise to trade near decade highs, with Japan’s Nikkei 225 closing at highest since 1996. European stocks are little changed, with Spanish shares gaining after Catalan President rows back from an immediate declaration of independence. MSCI's all-world stocks index briefly hit a fresh record high in opening European trading as a 1.5% jump in Spain's IBEX added to a 10-year high set by Asian shares overnight.
Authored by Nicholas Trickett via OilPrice.com,
Oil Royalties
Authored by Jacob Hornberger via The Mises Institute,
On July 21, 1821, John Quincy Adams, who would go on to become the sixth president of the United States, warned that if America were ever to abandon its founding principle of non-interventionism in foreign affairs, she might well become the dictatress of the world.
Adams issued his warning in a speech he delivered to Congress, a speech that has gone down in history with the title “In Search of Monsters to Destroy.”
S&P futures are again modestly in the green as European shares hold steady ahead of a meeting of the Catalan regional parliament and a possible declaration of independence by Catalan leader Puigdemont, while Asian shares rise a the second day. The dollar declined for the 3rd day, its losses accelerating across the board amid growing concerns that Trump's tax reform is once again dead following the Corker spat and a rejection from Paul Ryan, with the move gaining traction after China set the yuan’s fixing stronger for the first time in seven days.