Europe

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...

This Is Why Shrinkflation Is Making You Poor

S&P futures have tracked both European and Asian markets lower, which were dragged down by the big EPS miss and guidance cut reported by Amazon on Thursday. Meanwhile, the pounding of the dollar has resumed with the euro and sterling strengthening against the dollar due to renewed political concerns after this morning's stunning failure by the Senate GOP to pass a "skinny" Obamacare repeal after John McCain sided with democrats.

Authored by Mac Slavo via SHTFplan.com,

Authored by Paul Craig Roberts,

America has been a discouraging landscape ever since the neoconservatives took over US foreign policy during the Clinton regime and started the two decades of war crimes that define 21st century America and ever since US corporations betrayed the US work force by moving American jobs to Asia.

The outlook became darker when the Obama regime resurrected the Russian Threat and elevated the prospect of military conflict between the nuclear powers.