The Organization of Petroleum Exporting Countries produced 31.57 million barrels a day last month, the most since 2012, according to its monthly market report. The market may be “balanced” in 2016 as demand grows and non-OPEC supply contracts, OPEC Secretary General Abdalla Salem El-Badri, said at a conference in Kuwait City on Monday.
Federal Reserve officials now seem open to deploying negative interest rates to combat the next serious recession even though they rejected that option during the darkest days of the financial crisis in 2009 and 2010.
Strange. By many measures the U.S. is in the best shape since the end of the Great Recession. Unemployment is at a seven-year low. Inflation-adjusted incomes are up. Consumers are spending more. Car sales are at a 10-year high. Gasoline is pretty cheap. And the housing market has perked up after years of malaise.
Oil demand will grow and non-OPEC supply is due to contract, OPEC Secretary-General Abdalla Salem El-Badri said, hoping to see a more balanced market in 2016.
Florida’s orange crop will shrink to the lowest in 52 years, the U.S. Department of Agriculture has forecast, as damage from citrus-greening disease persists.
The probability that the world's biggest economy will enter a recession in the next 12 months jumped to 15 percent, its highest level since October 2013, according to economists surveyed Oct. 2-7 by Bloomberg. The median had held at 10 percent for 13 consecutive months.
U.S. stock-index futures dropped, after the Standard & Poor’s 500 Index’s sixth advance in seven days helped claw back some of the declines from an equity rout that started in August.
Asian stocks traded mixed on Thursday despite a positive lead from Wall Street, with Chinese equities outperforming after mainland markets resumed trade after a week-long holiday.
U.S. stocks opened higher Wednesday as continued recovery in oil prices helped boost sentiment ahead of earnings season. The Dow Jones industrial average gained more than 100 points in the open, with Goldman Sachs (GS) and Chevron (CVX) contributing the most to gains.
All the upwards activity has brought out a few market bulls, most notably Citigroup analysts led by Robert Buckland who are now urging investors to screw their courage to the sticking place and stick some money into stocks: