. . Market Sentiment Watch: US equity markets set to post worst first half performance since 1970. Futures are weak across equities and commodities. Time for a key reversal day in energy. These are not weak prices. OPEC+ is highly likely to stay the course and not flood the market as some might hope and […]
. . Housekeeping Watch: EIA will post the last two weeks of oil inventory data today at the regular time of 10:30 EST. Not sure of the format. This will likely cause a temporary increase in volatility as the market digests the double dose of data relative to estimates that are less than optimal. The […]
. . In today’s post please find: the very early read on natural gas inventories (consensus aligned with the upper end of our range), FANG cheat sheet update, ESTE acquisition comments, and some other odds and ends. Ecodata Watch: We get the Case-Shiller home price index at 9 am EST (no forecast, last read was […]
. . Market Sentiment Watch: This is the final week of the quarter with a good amount of key economic data, the OPEC+ meeting, and then the oddness out of EIA’s release troubles. Expect volatility. Also, note the end of quarter buying in the gassy names last week despite the move in gas. This is […]
. . The ZLT was off 4% on the week last week vs a broad market rally and an energy sector that largely ebbed (gassy stocks of the XNG up 1.2% but the XOP off 5.8%). Notice the gassy equities were up on a further 10% decline in front month natural gas. This week is […]
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