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Archive for November 22nd, 2017

Nov 22, 2017 Goldman Sachs Group Inc. lifted its forecast for U.S. stock gains in 2018

November 22nd, 2017

Well, I like this title because if we have finally topped out, it will be my sense of amusement. Anyway, tonight the Hang Seng took out 30,000 which is 2007 high. Shanghai Futures had Copper on fire for no strong reason I could find (well there is a story floating that Nov 26 there will be a trade deal with Russia). Steel and rebar is hurting over there due to all the China Factory closings due to Pollution, but tonight Rebar was up 3%. With all this strong rally action in equities we are not seeing it all in currencies (no matter what GS says, lol). Aussie is actually weaker to the USD and Euro is surprising up .23% vs USD even with the news Merkel will have to call for a Election. Futures are up slightly around .07% in the first hour of the European Session. API came out tonight showing a massive draw of 6.356 million barrels vs estimates of 2.1 draw. Oil is  over 1% on it. EIA will be coming out today even though holiday week. Durable Goods is coming out, last month there was a huge upside surprise so Bulls are thinking it will come again and beat the low estimate of .5%. Yet, it won’t be a Big Beat so market will sell off after this silly two day rally we have had. Plus EIA can’t beat that super draw of API so Oil should give back too.Happy Thanksgiving Day. BTW, not loving the Black Friday Sales this year fwiw.

November 2017, Uncategorized