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Oil & Gas Earnings Expectations Are Collapsing

Oil & Gas Earnings Expectations Are Collapsing

Much of the recent ebulient narrative about equity markets has been based on the promise of an earnings rebound - due to beneficial comps in the oil & gas sector. That narrative just hit a wall...

As Bloomberg notes, analysts haven’t rushed to upgrade their outlook on earnings per share at Europe’s biggest energy companies, even as Royal Dutch Shell Plc, Total SA and Statoil ASA beat estimates for a second straight quarter.

"This Is A Full-Blown Scandal: It’s Unbelievable, Outrageous" - Comptroller Demands Heads Roll At Wells

Wells Fargo is in boiling hot water. Again.

One day after the NYT reported the latest major scandal involving Warren Buffett's favorite bank, in which the bank was busted less than a year after its miss-selling fraud cost the former CEO his job, revealing that the bank charged some 800,000 customers for auto insurance they did not need (with some still paying for it), the demands for resignation have arrived.

Rig Count Rises By Just 2 As Goldman Expects Oil Market To Rebalance By Early 2018

Rig Count Rises By Just 2 As Goldman Expects Oil Market To Rebalance By Early 2018

With WTI heading for its best week since 2016, demand and inventory data is trumping production for now and today's Baker Hughes rig count data did nothing to change that as, following last week's 1 rig drop, producers only added 2 oil rigs in the last week to 766.

  • *U.S. GAS RIG COUNT UP 6 TO 192 , BAKER HUGHES SAYS :BHGE US
  • *U.S. OIL RIG COUNT UP 2 TO 766 , BAKER HUGHES SAYS :BHGE US

Judging by the lagged correlation to WTI, rig counts are stalling as expected...

 

Desperate Americans Are Saving The Least Since The Start Of The Last Two Recessions

Desperate Americans Are Saving The Least Since The Start Of The Last Two Recessions

The last two times Americans were saving this little in order to maintain their lifetsyles, the US economy was in recession.

According to newly revised government data, Bloomberg reports that American households scaled back their pace of savings to the lowest level in nine years at the end of 2016 as the growth of their wages and salaries slowed.

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