AMERICAS OIL: WTI Crude Oil is mixed amidst signs of easing Israel/Hamas tension
Feb-13 19:38
{US}{7i} February 13 - Americas End-of-Day Oil Summary: WTI Crude Oil is mixed amidst signs of easin...
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COMMODITIES: Crude Declines, Gold Holding On To Bulk Of Recent Gains
Jan-14 19:33
- WTI crude prices are easing lower today as prices readjust following a rally up to a high of $79.27/bbl yesterday. Recent gains have been driven by fresh US sanctions on Russia.
- WTI Feb 25 is down by 1.4% at $77.7/bbl.
- The Wall Street Journal reports that President-elect Donald Trump is preparing a set of energy-related executive orders, to sign upon his inauguration on Jan 20, that would unwind Biden administration rules on offshore/onshore drilling on federal lands, tailpipe emissions, and LNG exports approval.
- Meanwhile, a potential drop in supply from sanctions against Russia and Iran are challenging the possibility of a market surplus this year, as previously forecast by some analysts.
- The trend structure in WTI futures remains bullish, with sights on $79.59, the Jul 5 ‘24 high. On the downside, a reversal lower would expose the 20-day EMA, at $73.16.
- Spot gold has risen by 0.4% to $2,673/oz today.
- UBS analysts expect gold to hit a fresh record high this year amid trade and geopolitical uncertainties, forecasting the yellow metal to reach $2,850 by year-end.
- While recent gains in gold appear corrective for now, the yellow metal is holding on to the bulk of last week’s gains and scope is seen for a continuation higher near-term.
- A stronger recovery would open $2,726.2, the Dec 12 high and an important resistance.
PIPELINE: Late Corporate Issuance Roundup: $19.75B to Price Tuesday
Jan-14 19:28
- Date $MM Issuer (Priced *, Launch #)
- 01/14 $3.5B *British Colombia 3Y SOFR+45
- 01/14 $3B *KFW +5Y +40
- 01/14 $2.5B #BNG Bank 5Y SOFR+47
- 01/14 $2.5B *CADES 5Y SOFR+68, upsized from $2B
- 01/14 $2B #Adobe $800M 3Y +30, $700M 5Y +40, $500M 10Y +55
- 01/14 $2B *CAF 5Y SOFR+82
- 01/14 $2B *IFC 3Y SOFR+29
- 01/14 $1.25B #BFCM $900M 5Y +95, $350M 5Y SOFR+123
- 01/14 $500M Blackstone Private Cr Fund 7Y +170
- 01/14 $500M #Hyundai 3Y +80
US STOCKS: Late Equities Roundup: Second Half Recovery, Banks Up Ahead Earnings
Jan-14 19:08
- Stocks have recovered from midday lows and are making moderate gains in late trade - still off this morning's post-data knee-jerk highs as accounts square risk and migrate to the sidelines ahead of Wednesday's key CPI inflation data.
- Currently, the DJIA trades up 206.18 points (0.49%) at 42504.32, S&P E-Minis up 20 points (0.34%) at 5894, Nasdaq up 46.2 points (0.2%) at 19133.11.
- Utilities continue to outperform while Financial sector shares have gained momentum in the second half. Independent power and electricity providers rebounded after Monday's selling: Vistra +4.91%, Constellation Energy +3.09%, NRG Energy +2.42%.
- Banks and financial services shares led gainers in the second half - taking some risk with banks kicking off the latest earnings cycle tomorrow: Blackrock, Bank of NY Melon, Wells Fargo, JP Morgan, Goldman Sachs, Citigroup, followed by M&T Bank, US Bancorp, Morgan Stanley and PNC on Thursday.
- Leading gainers included Citizens Financial +3.74%, Huntington Bancshares +2.81, Fifth Third +2.8% and Discover Financial Services +2.64%.
- On the flipside, Health Care and Communication Services continued to underperform in late trade. Pharmaceuticals weighed on the Health Care sector: Eli Lilly -6.5% after phase 1 trials of it's weight loss drug were terminated, Charles River Labs -5.35%, Biogen -3.64% and Moderna -2.87%.
- Interactive media and entertainment shares weighed on the Communication Services sector: Meta -1.83% amid reports of staff reductions of lowest 5% performers, Netflix -0.62%, Alphabet -0.32%.
