Market Sentiment Watch: Different week, same volatility. Big week on the economic data front culminating in Payrolls on Friday which will be viewed with even greater interest than usual as the Fed appears to very much remain in coin toss land for a September rate hike even at this late date. In energyland, we saw a rare post May 1 positive week for the groups with the XOP and XNG gaining 5% on the week and the ZLT portfolios up 4 to 10%. The OIH, possibly inspired in delayed reaction fashion to the SLB bid for CAM advanced 9% last week (we currently only hold HAL in that space). We normally expect this to be one of the quieter weeks of the year in terms of energy news flow. In today's post please find The Week That Was and a few other odds and ends.
- We ge Chicago PMI at 9:45 am EST (no forecast, ast read was 54.7),
- EIA - Petroleum Supply Monthly - later today.
- EIA - Natural Gas Monthly - later today.
The Week Ahead:
- Tuesday 9/1: Markit PMI, ISM, Construction spending, car sales,
- Wednesday 9/2: ADP employment, productivity, unit labor costs, factory orders, Beige Book,
- Thursday 9/3: Jobless claims, trade deficit, ISM nonmanuacturing,
- Friday 9/4: Nonfarm Payrolls, unemployment rate, average hourly earnings.
In Today’s Post:
- Holdings Watch
- Commodity Watch
- The Week That Was
- Stuff We Care About Today - WPX
- Odds & Ends
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