Markets News Oil 

Trump can’t do much more than tweet about high oil prices if OPEC’s power play with Russia holds: Yergin

“They are going to continue to squeeze” oil prices higher” writes Matthew J for cnbc.com. Yergin, vice chairman of consultancy group IHS Markit, said he’s not surprised that Trump jumped on the higher oil prices, which usually means higher gas prices at the pump.Saudi Arabia’s oil minister told CNBC on Friday that a dramatic upswing in crude prices was little reason to become complacent.But even as President Donald Trump on Friday blasted the cartel for keeping oil prices “artificially” high, there are few options for the White House to fight…

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Markets News Stocks 

One classic theory could be hinting at a short-term drop for stocks

“Todd Gordon of TradingAnalysis.com says one classic market trend could be pointing to a short-term drop for stocks” writes unknown author for cnbc.com. Gordon points to the Elliott Wave Theory, which posits that stocks and indexes generally travel in a successive series of five up and down moves.To determine how big that drop could be, Gordon brings up a second part of the Elliott Wave Theory.After connecting the highs and lows, Gordon says a SPY drop would fall to the lower line on the triangle to around $260. Source: cnbc.com Share…

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Markets News Oil 

Russia says the oil supply situation has improved but not yet at a ‘full recovery’

“The supply-cutting deal led by OPEC has not yet completed its mission to rebalance the oil market, Russian Energy Minister Alexander Novak told CNBC Friday” writes Silvia Amaro for cnbc.com. The agreement was initially brought forward to boost oil prices after years of stalled levels.Oil producing countries are set to meet in June to review the deal. Source: cnbc.com Share This:

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Markets News Stocks 

Mark Hulbert: Guess which of these S&P 500 valuation measures is telling the truth

“That in turn means that P/Es based on projected earnings will be significantly lower than P/Es based on trailing earnings” writes Mark Hulbert for marketwatch.com. It isn’t that it’s inherently better to focus on trailing earnings versus projected earnings.Is the S&P 500’s current price/earnings ratio below 17, or is it close to 25?. And because earnings on average grow from year to year, and because analysts are almost always too optimistic, projected earnings will be markedly higher than trailing earnings.That’s the same conclusion we reach when focusing on P/Es based…

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Markets News Stocks 

GE’s stock surges above key technical level, into correction territory

“GE’s stock had lost 19.8% year to date through Thursday, while the Dow Jones Industrial Average DJIA, -0.21% had slipped 0.2%” writes Reporter Editor for marketwatch.com. A new bull market for GE, which is defined by many as a gain of 20% or more off a bear market low, would come in at $15.40.General Electric Co.’s stock GE, +6.00% soared 6.3% in premarket trade Friday on the back of better-than-expected first-quarter results, putting it on track to track to trigger an official correction, as it gaps higher to open above…

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Markets News Stocks 

The stock market is stuck in a traffic jam — so Goldman Sachs has picked 14 stocks set to break the gridlock by exploding higher

“To put it in the simplest terms, this indicates that the US equity market is currently mired in a traffic jam where almost everyone is stuck moving in the same direction” writes Joe Ciolli for businessinsider.com. Goldman also notes that large pullbacks in stocks have been largely driven by valuation concerns, rather than individual company earnings.Stocks in the US market are increasingly following the herd, and it’s created a huge dilemma for investors who prove their bonafides picking single companies. Without further ado, here are the 14 high-dispersion stocks, arranged…

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Markets News Stocks 

Guess which of these S&P 500 valuation measures is telling the truth

“That in turn means that P/Es based on projected earnings will be significantly lower than P/Es based on trailing earnings” writes Mark Hulbert for marketwatch.com. It isn’t that it’s inherently better to focus on trailing earnings versus projected earnings.Is the S&P 500’s current price/earnings ratio below 17, or is it close to 25?. And because earnings on average grow from year to year, and because analysts are almost always too optimistic, projected earnings will be markedly higher than trailing earnings.That’s the same conclusion we reach when focusing on P/Es based…

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