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West Texas Intermediate

Apple’s iPhone 7 gets mixed reviews, stock sinks, markets drag

WASHINGTON, September 8, 2016 – Weirdness and indirection continued to grip Wall Street Thursday as all three major averages—the DJI, the S&P 500 and the NASDAQ—are currently down. The NASDAQ, in fact, is doing the worst, off 38.67 points as of 2 p.m. EDT, a negative 0.8 percent, likely due in part to heavily weighted ...

Oil, Brexit, Orlando and Fed fears hit Tuesday trading hard

WASHINGTON, June 14, 2016 – Wall Street couldn’t wait ‘til the end of the week for its latest Freaky Friday. That’s happening today, as the market continues tormenting traders and investors alike with the kind of action that can only be compared to the Chinese water torture. (Is that phrase still politically correct?) Drip, drip, ...

Fort McMurray wildfire, Saudi actions boost Monday oil futures

WASHINGTON, May 9, 2016 – After a dismal start to May, stocks are looking up a bit some two hours before Monday’s opening bell on Wall Street. As of 7:30 a.m., Dow, S&P 500 and NASDAQ futures are up modestly with the Dow Jones Industrials futures up 51, the S&P up 6.50 and the NAZZ ...

Oil soars, but Friday stocks succumb to the blahs. Rally over?

WASHINGTON, April 8, 2016 – Both Thursday and today, the Maven has been lacking the inspiration to write really insightful stuff, although he hopes you enjoyed his extended Wednesday Pfizer-Allergan “fail” rant. Read also: Pfizer, Allergan inversion deal inverted by Treasury hacks Today the “oil production freeze” rumor mill was once again pumping more vigorously ...

Yellen’s dovish remarks Tuesday inspire bulls, boost stocks

WASHINGTON, March 29, 2016 – Tuesday trading action got off to a bad start this morning due to negative vibes from the usual suspects: oil, which continued to decline sharply from last week’s $40 plus per barrel peak; and rising interest rate fears, kicked off by hawkish comments from St. Louis Fed Prez James Bullard. ...

Wall Street marks time awaiting Fed, Tuesday primary contests

WASHINGTON, March 14, 2016 – It’s nearly 3 p.m. EDT as we write this, and stocks almost across the board are marking time either flat or slightly up on the day thus far. With Tuesday’s winner-take-all primaries in Florida and Ohio, the Street has its eyes on the still protean 2016 presidential race and what ...

Oil kicks Friday stocks into gear. Is Trump helping too?

WASHINGTON, March 4, 2016 – It’s getting really hard to know what’s driving this market. Headed for apocalyptic disaster not ten trading days ago, the major averages suddenly did a 180 just a few trading days ago. Now it seems there’s no stopping them as they assume their formerly accustomed trip back up into the ...

Wednesday’s markets: Oil isn’t everything—it’s the only thing

WASHINGTON, Feb. 24, 2016 – It’s really becoming the silly season these days if you’re still involved with trying to make at least a little money in stocks and bonds. First off, whatever you do is bound to be wrong. Second, whatever you buy or sell, it’s all about the price of crude oil. Third: ...

Tuesday markets: Oil giveth, oil taketh away

WASHINGTON, Feb. 23, 2016 – Today we recall the still well-known refrain of an old, largely forgotten song: “What a difference a day makes…” That seems about right if you’re referring to Tuesday’s stock market trading action. Monday, the price of West Texas Intermediate crude (WTI) was up an impressive and quite unexpected 6 percent ...

Oil catches a huge bid, stocks march in lock-step

WASHINGTON, Feb. 22, 2016 – Brief column today, as we have much to do away from our computer screen. That said, however, Wall Street is enjoying another strong relief rally today with all major averages up well over 1 percent in fairly active, bullish trading. What’s making a difference this Monday? Simple: The linkage of ...

False alarm: Rally on oil “freeze” fades, reality intervenes

WASHINGTON, Feb. 16, 2015 – The excitement building prior to Tuesday morning’s opening bell on Wall Street has faded quickly in the first two hours of trading. The big news hitting the tape was that the Russians and Saudis had absolutely reached an earth-shattering agreement on ratcheting back oil production, something that’s desperately needed at ...

Iran sticks it to the U.S., oil wavers, but stocks rally

WASHINGTON, Jan. 29, 2016 – As of the noon hour Friday, stocks are rallying hard as bulls try to take the tape back from January’s bad news bears. We wish them luck. After oil, specifically West Texas Intermediate (WTI), took a nice swing up Friday morning, it’s now getting whacked again, courtesy of persistent oversupply ...

Bring out the beer. Fed reports Wednesday afternoon

WASHINGTON, January 27, 2016 – After a nasty smash downward this morning, led by a decline (of course) in oil prices, markets suddenly swung to the upside at the noon hour of Wednesday, moving sharply up again. As of 1 p.m. EST, however, the averages seem to be changing their minds once again, with the ...

Oil smackdown obliterates Tuesday morning Wall Street rally

WASHINGTON, Jan. 12, 2016 – It’s getting harder and harder to write this column daily. The reason is simple. Until and unless the hemorrhaging price of Brent and West Texas Intermediate (WTI) crude oil is reversed, it seems that the entire universe of stocks, whether in the oil patch or not, is doomed to go ...