No Picture
Trading Ideas

Trump Illness Exposes Underlying Market Tension

(Bloomberg Opinion) — Losses in the main U.S. stock indexes on Friday will go down in history simply as small ones in an otherwise choppy week. But assessed in more detail, they provide a remarkable example of the intense tug-of-war that now grips markets and will most likely persist, if not intensify, in the weeks ahead.Two news developments dominated the run-up to the U.S. market open on Friday.First and foremost was the middle-of-the-night tweet from President Donald Trump confirming that he and his wife had tested positive for Covid-19. The immediate reaction in the futures market included an indication of …read more […]

No Picture
Trading Ideas

Saudi Oil Production Holds Steady in September at 8.97m b/d

(Bloomberg) — Saudi Arabia kept its crude oil output broadly stable last month, pumping 8.974 million barrels a day in September compared with 8.988 million barrels a day in August, according to an industry official familiar with the kingdom’s production levels.The kingdom has been restraining production since May as part of an historic OPEC+ agreement to remove nearly a 10th of the world’s oil supply to mitigate the impact of the coronavirus pandemic on the energy market. Under the OPEC+ deal, Riyadh has a production target of just under 9 million barrels a day.With Brent crude under $40 a barrel …read more […]

No Picture
Trading Ideas

Trump May Be Discharged From Walter Reed Medical Center on Monday, Doctor Says

Oct.04 — Johns Hopkins’ Dr. Brian Garibaldi, who is on President Donald Trump’s medical team, said that “our hope is that we can plan for a discharge as early as tomorrow to the White House.” He spoke to reporters outside Walter Reed National Military Medical Center on Sunday. …read more […]

No Picture
Trading Ideas

Traders Brace for a Jolt With Trump’s Health, Stimulus in Focus

(Bloomberg) — Markets face the prospect of additional turmoil this week after Donald Trump’s hospitalization for coronavirus late Friday raised concerns over the U.S. president’s health and further roiled a Washington political landscape already riven by battles over fiscal stimulus and the Supreme Court.Foreign-exchange traders in the Asia-Pacific region will be the first to react Monday, with attention focused on the prospect of renewed gains by havens such as the Japanese yen and additional declines in riskier currencies like the Australian dollar.Market volatility jumped Friday as financial markets initially reacted to news of Trump’s diagnosis in a risk-averse manner. U.S. …read more […]

No Picture
Trading Ideas

President Trump Could Be Discharged ‘As Early as Tomorrow,’ Doctors Say

Dr. Sean Conley and the team of doctors caring for President Trump at Walter Reed provided details about two episodes in which the President required oxygen, but said he continues to improve and could be discharged back to the White House as early as Monday. Photo: Jacquelyn Martin/AP …read more […]

No Picture
Trading Ideas

Goldman Sachs Says Election Fears Are Overblown; Suggests 2 Stocks to Consider

November 3 is just around the corner, and Wall Street’s gaze has locked in on the race to the White House. Biden currently leads in the polls, but it’s still anyone’s race. Now, with President Trump’s COVID-19-related hospitalization rocking the last leg of the 2020 presidential election campaign, and Senate control also up for grabs, fears regarding a divided government are circling the Street. That said, this might not be such a bad thing, if you ask Goldman Sachs. “A divided government scenario would lead to a smaller change in interest rates and a reduction in political uncertainty,” the …read more […]