09:25 13 Nov 2017

Last week for the US stock market began with a record high of Nasdaq.

09:58 13 Nov 2017

The previous week began with a slight shock for the oil market. On Sunday, the Supreme Anti-Corruption Committee of Saudi Arabia ordered the detention of about 40 influential people, including members of the royal family, former ministers, military and entrepreneurs. On the same day, Prince Mansour bin Mukrin was killed in a plane crash in the south of the country. There were other high-ranking officials on board the helicopter. The explosive price increase did not take long. On Monday morning, Brent crude oil was sold at $ 62.81 per barrel, and by the end of the day the price for it reached 64.21 dollars per barrel. The last time this mark was the price of a barrel of oil was in June 2015. Most experts hastened to blame speculators in all, who took advantage of the situation. At the moment, stability of oil prices is needed to balance the budget and to successfully conduct IPO Saudi Aramco.

Indeed, the decline in prices began the next day and continued until the end of the week. However, it is worth noting that, compared with the growth rate, the decline was not very significant. Investors were concerned about the tension between Saudi Arabia and Iran. Riyadh called the rocket launch by Yemeni Husit rebels an outrageous act of military aggression by the Iranian regime, which could be seen in the future as an act of war against the kingdom. The missile was destroyed by the air defense forces, but the problem has not disappeared anywhere.

Of course, Tehran rejected all claims. The official representative of the Iranian Foreign Ministry, Bahram Kasemi, characterized the accusations made by Riyadh of involvement in the launching of a rocket from Yemen as destructive and irresponsible. In addition, Iranian Foreign Minister Mohammad Javad Zarif said that Saudi Arabia accuses Tehran of the consequences of its "aggressive wars." According to him, Saudi Arabia "is waging aggressive wars, engaging in regional oppression, carrying out destabilizing behavior and risky provocations."

The Reuters agency, commenting on the situation, quotes Olivier Jakob, an analyst of Petromatrix, that Saudi Arabia has really turned its back on Iran. On the one hand, this increases the global level of geopolitical risk, but also increases the difficulties in achieving a consensus within OPEC.
Iran was not alone. Saudi Arabia on Thursday asked its subjects to leave Lebanon after Lebanese Prime Minister Saad Hariri announced his resignation as premier of Lebanon while in Riyadh. In the speech broadcast by the Saudi Al-Arabiya channel, he accused the Shiite movement Hezbollah and Iran of inciting hatred in Lebanon and the Arab world and said that he had learned of the attempted assassination attempt on him. On the same day, the media also reported on a possible reduction in oil exports from Saudi Arabia to all regions next month. Bloomberg agency wrote that the volume of supplies will drop by 120 thousand barrels per day in comparison with November.

 

 

18:22 06 Nov 2017

American stock market began last week with light decline after the reports about the discussion in the House of Representatives of the introduction of corporate taxation plans by President Trump.

18:21 06 Nov 2017

The past week began with reports from Iraq on the resumption of oil production in the province of Kirkuk after clashes between government forces and Kurds, which provoked disruptions in the supply of oil by the second largest producer of OPEC.

11:40 30 Oct 2017

The main US stock indexes began a week in the "red zone" after the collapse of shares of General Electric and the reduction of quotations of the conglomerate sector. Released data showed that the revival of production activity led to sharp improvement in the index of economic activity from the Federal Reserve Bank of Chicago last month, but weaker indicators, which remained negative for many months, restrain the average value of the index, and to improve it will take several months of noticeable growth. The index of economic activity from the Federal Reserve Bank of Chicago recovered to +0.17 from the revised -0.37 in August, which was another turn of the unstable measure over the past few months.

The next day the market moved to growth, and the Dow Jones index updated its record high, thanks to 3M and Caterpillar reports. In addition, data for October indicated a reliable and accelerated expansion of business activity in the private sector of the United States. The upswing was supported by the fastest growth in the manufacturing sector for eight months, along with yet another reliable growth in output in the services sector. Taking into account seasonal fluctuations, the composite PMI index from IHS Markit increased to 55.7 from 54.8 in September. The last reading reflected the fastest growth in private sector activity since January.

On Wednesday, the market again showed negative dynamics after the publication of a new portion of reports, including AT & T and Boeing, which made negative impression on investors. The profit of AT & T in the third quarter of 2017 financial years (FY) reached $ 0.74 per share (versus $ 0.74 in the third quarter of 2016 FY), which was below the average forecast of analysts at $ 0.75. Quarterly the revenue of the company was 39.668 billion (-3.0% y / y), while the average forecast of analysts was $ 40.335 billion. Meanwhile, Boeing's profit for the third quarter of 2017 FY reached $ 2.72 per share (against $ 3.51 in the third quarter of 2016 FG), which turned out to be above the average at $ 2.66. Quarterly revenue of the company was $ 24.309 billion (+ 1.7% y / y), while the average forecast of analysts was $ 24.090 billion.

On Thursday, the "slides" continued and the stock indexes mostly grew. As it became known, the number of Americans applying for unemployment benefits last week increased less than expected, indicating that the labor market continues to toughen after recent hurricane-related disruptions. Initial applications for unemployment benefits increased by 10,000 to 233,000, seasonally adjusted for the week to October 21, the Ministry of Labor said.

The week ended in the green zone, the main reason for this was once again the quarterly reports of the companies Amazon (AMZN), Microsoft (MSFT), Intel (INTC) and Alphabet (GOOG) were much better than analysts predicted. At the same time, support for the market was provided by statistical data on the United States. As it became known, US GDP grew by 3% per annum in the third quarter, despite the damage from two hurricanes, according to the Ministry of Commerce. This is higher than the expectations of economists (+ 2.5%), and only slightly below the growth rate of 3.1% in the second quarter.

 

11:18 30 Oct 2017

On Monday, oil prices did not show unified dynamics due to investors' hesitancy. The price of December futures for the North Sea oil Brent was down 0.71% to $ 57.34 per barrel, while the price of December futures for WTI rose 0.10% to $ 51.89 a barrel. Market participants assess the situation after the release of the data on the level of implementation of the Vienna agreements of OPEC + and the dynamics of the number of drilling rigs in the US. According to the information of the technical monitoring committee, in September, the participating countries fulfilled its conditions by a record 120%. However, many analysts are confident in the ability of the US oil sector to achieve higher production volumes, even with a temporary reduction in the number of operating rigs. According to recent data from Baker Hughes, the number of drilling rigs in the United States decreased by 15 pieces, or 1.6%, to 913 units over the past week. At the same time, according to the forecast of the US energy information management, local producers will increase production to 1.23 million barrels per day against the July forecast of 240,000 barrels per day.

On Tuesday, the focus of market participants once again shifted to Iraqi Kurdistan, where on Sept. 25 there was a referendum on independence, for independence from Iraq voted 92.7% of voters. The Iraqi authorities declared the referendum illegitimate. Baghdad after the referendum took a series of sanctions against the Kurdish region. The current situation creates a threat to the export of oil from the region. The price of December futures for the North Sea oil Brent grew by 0.17% to $ 57.47 per barrel, December futures for WTI crude oil - by 0.15%, to $ 51.98 per barrel. In addition, the words of Russian President Vladimir Putin about the possibility of extending the OPEC + agreement influenced the market. Earlier during the Russian Energy Week-2017, Putin did not rule out that the OPEC + agreement on reducing oil production could be extended until the end of 2018.

On Wednesday, Russian Energy Minister Alexander Novak spoke about the cost of oil in Russia. According to him, it is an average of 10 to 15 dollars per barrel. According to him, at current deposits, this figure can be reduced to 2-5 dollars, and on new ones, including on the Arctic shelf, this figure is at least 40-50 dollars per barrel.

The end of the week was marked by the analysis of relations between Saudi Arabia and Russia. Leading world media, digesting the results of the visit of the Saudi king to Moscow, began to build far-reaching assumptions about possible global changes. In particular, they spoke of "punishing" Riyadh for excessive rapprochement with Moscow through the sabotage of the exchange placement of the Saudi oil company Saudi Aramco. If earlier the stock exchanges in New York and London fought for the right to host a company with an estimated market capitalization of two trillion dollars, now information is actively being discussed that the Saudi party will be forced to postpone an international placement for an indefinite period. According to Financial Times sources, the close relationship between the oil company and the Saudi authorities suddenly became a problem for US and British financial market regulators. Many analysts immediately lowered the company's capitalization estimates by almost 50%.

 

 

06:41 23 Oct 2017

Last Monday began with a slight increase in the major US stock markets due to an increase in the yield of treasury bonds.

06:35 23 Oct 2017

The previous week was marked by the Middle East crisis.

18:21 15 Oct 2017

The week began for the US stock market with a slight decline due to the losses in the health sector and conglomerate sphere.

17:49 15 Oct 2017

The quotes of oil on Monday began to grow confidently.

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