WTI posted a 5.2% gain in October, the first back-to-back monthly advance this year, and held up near the highs of the day into the API print. WTI/RBOB kneejerked higher as the data hit showing large inventory draws across everything...
API
Well that was easy...
When does this mouth snap shut?
The S&P is substantially overvalued on 18 of 20 valuation metrics, with the only exceptions being free cash flow (helped again by depressed capex), and relative to small caps/bonds - the Fed's favorite indicator - where yields remain depressed thanks to the Fed's failure to stimulate wage inflation for nearly 9 years.
But as the relative collapse of the equal-weight S&P relative to the market-cap-weighted S&P, all the gains have gone to the biggest names...
Authored by Michael Snyder via The Economic Collapse blog,
The federal government is now 20.4 trillion dollars in debt, and most Americans don’t seem to care that the economic prosperity that we are enjoying today could be completely destroyed by our exploding national debt.
Best Buy just got an Uber-sized lesson in surge pricing, and how not to do it.
Hoping to capitalize on the (reportedly) pent up interest in the iPhone X, Best Buy, which also sells all iPhone models via carrier installment plans that let customers pay for the devices over several months, decided to hike the full, upfront price by $100, with the retailer charging $1,099 and $1,249 for the two iPhone X configurations; Apple’s pricing is $999 and $1,149.