Following API's surprise gasoline build (and small crude draw), DOE confirmed concerns with a surprise build in gasoline inventories. Crude inventories drew down for the 2nd week in a row. WTI prices slipped though as production rose to its highest since Aug 2015.
API
DOE
Authored by Danielle DiMartino Booth via Time.com,
Coulda, shoulda, woulda. How different would the world we live in today be had the Federal Reserve shown restraint and practiced self-control in the current economic recovery? Where would the stock market be if Fed officials had not placated investors every time they threw a temper tantrum, demanding more stimulus?
“Buy these 50 stocks and that’s all you need” to get rich. That was the early 1970’s as the stock market bounced back from a deep correction to make new highs (point 1 on the chart below).
Yesterday, ahead of the London Fix, Gold was monkeyhammered lower on yuuge volume, only to rip back higher.
Today, having failed to keep the precious metal down (25,000 contracts dumped in a minute), they went for it again with a $3 billion notional pummeling in futures...
And the dollar is deja vu-ing too...
One day after covering its long-standing long dollar call (coincidentally, just one week after former Goldman COO Gary Cohn urged Trump to flip on his own "strong dollar" policy), Goldman has gotten even more cautious and in a note released this morning it warns that "Investors are increasingly concerned about an S&P drawdown." Here's why: