06
Nov

Wrap – Week Ended 11/4/16

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Comments and questions under The Wrap will be addressed in the Monday post. 

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6 Responses to “Wrap – Week Ended 11/4/16”

  1. 1
    brodway Says:

    Reason for futures to be up over 1% other than it bounced off the 50dma?

  2. 2
    zman Says:

    re 1 – Comey / Clinton news. 

  3. 3
    brodway Says:

    Ok see that FBI cleared Hillary……markets got nervous that Trump had  a chance to capture the election….

  4. 4
    zman Says:

    re 3 – that would be my guess, have not checked energy news in the last few hours. 

  5. 5
    nrgyman Says:

    OPEC appears challenged to make the upcoming meeting meaningful:

    https://www.bloomberg.com/gadfly/articles/2016-11-06/opec-production-cuts-harder-to-achieve-without-friends-and-miracle

  6. 6
    brodway Says:

    Nrgyman

    i don't see how OPEC nations continue being uncooperative. they've been struggling for 2 years, many unable to fund their national budgets. For the first time in history Saudi Arabia took out loans and pay cuts, which is not something they look forward to for an extended period of time. Giving away their commodity at half price when they really don't have to is going to sink in hard when its time to make a decision on November 30th. I also see Russians supporting any measured productions caps as they are too approaching serious capital deficiencies. Not sure Russians actually live up to any agreements they make, but the notion of cooperation should send prices of commodity higher

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