Good morning. It is 34 degrees and rainy here in the Upper Hudson Valley and we are in for a colder wet day. Looking ahead the seven day forecast is saying it goes into the 60s this time next week. That sounds like an early Spring to me. Super Tuesday came and went, according to what I've read it went mostly according to plan. I was surprised to see Hillary Clinton win in Massachusetts, I thought Bernie Sanders would win big there. Regardless, according to the tally on the front page of CNN, Clinton is closer to acquiring all the delegates she needs to win the nomination, she's roughly half way there. On the other hand, the GOP race is closer than I though - Trump has 315 delegates, Cruz has 205, and Rubio has 106 with 1,237 needed to win the nomination. That is significantly different from the 1055 to 418 advantage for Hillary Clinton. Listening to Donald Trump last night one got the impression that the man believes he is the new president, that might be a bit presumptive. Trump is receiving an even greater amount of harsh scrutiny now, the articles seem to be pouring out pointing out his 'problem areas' to say it politely.
At 8:00 a.m. ET futures are slightly lower and the price of oil per barrel is down. The market is poised to open slightly lower.
Oil is presently trading in the $33 to $34 per barrel area and the articles are pointing to a 'stable' trading day as European and Asian markets are in the positive. One wonders how investors think about a Trump presidency.
CNN:
Stocks: 5 things to know before the open
Crude oil futures are edging down 2% to $33.70 per barrel on Wednesday, but still remain way above the scary lows reached in February.
The recent gains reflect a change of sentiment, as investors hope big oil producers including Saudi Arabia and Russia will stick to their tentative agreement to freeze production.
1 comment:
Oil has a supply side problem because of all the "new" sources that have been made available and Iran's return to the business. The glut of oil is still going to keep prices below $45 a BL for quite awhile. High prices might return, but that only drives everyone into getting behind all the even "newer" technological breakthroughs coming online and it especially drives solar/wind and battery techs. The Fossil energy Barons are fighting a losing battle.
Post a Comment