With a record glut of crude and gasoline, US crude production pushed to new cycle highs this week and continues to track lagged rig counts.
US crude inventories are at a new record high...
And so are Gasoline inventories...
And the rig ccount keeps rising with lagged oil prices...
Highest since October 2015
The Dow Jones "Industrial" Average is suffering one of its worst intraday declines in weeks as a result of a 3.6% drop in UnitedHealth shares, which are sinking on news that the DOJ joined a whistleblower lawsuit against the insurer filed by a former executive claiming the country's largest health insurer overcharged Medicare hundreds of millions of dollars.
The company denied the allegations, with UnitedHealth spokesman Matthew Burns saying in a statement that "we reject these more than five-year-old claims and will contest them vigorously."
Via NorthmanTrader.com,
Via Soren K. and MarketSlant
We received an interesting note from George Gero at RBC today for which we thank him. First the facts.
With the general public, market participants certainly included, closely following everything that comes out of Trump's mouth, below is the President's weekly address in which he may reflect on yesterday's "surreal" press conference and today's meeting with Boeing executives.
http://www.facebook.com/plugins/video.php