Closed at $13.30 in AH trading, over 120k shares +.03. Oil inventories show a large weekly draw down, 2/3 higher than expected. Expect to see the DOW up again tomorrow if recent DOW/oil movements continue. the DOW has gone up when oil has gone up and vice versa for a while now.
I have been anxiously awaiting tonight's API (American Petroleum Institute's) weekly inventory report. As jk noted the DOW has been following oil prices pretty much in lockstep for a while. Here's the numbers:
The American Petroleum Institute (API) indicated in a preliminary report that crude inventories could have fallen nearly 4 million barrels for the week to June 24, some two-thirds more than the 2.4 million barrels expected by analysts.
The actual drawdown was 3.9 million barrels just about what the prelim report suggested. If pre market looks up tomorrow morning I will be buying. Oil should be rallying again on those numbers.
Hi ed. LOL. Go figure. All the money that fled to the safe haven of the utes the past week or so left today for the rest of the market. My only RED today was ED and a penny down on T. Nice recovery of yesterday's losses though. I'm waiting to see tonight's Petroleum Institute's inventory numbers on oil. If there was a significant drawdown I'd expect the market to continue to climb tomorrow on a rise in the price of oil. I may dip my toes back in the morning if that's the case. Still wary this is a dead cat bounce.
At an emergency session in the European Parliament hours ahead of a summit of EU leaders, EU Commission President Jean-Claude Juncker called on Britain to clarify its future, after Prime Minister David Cameron suggested that exit talks might not be launched before October.
"I want the U.K. to clarify its position. Not today, not tomorrow at 9 a.m., but soon. We cannot allow ourselves to remain in a prolonged period of uncertainty," Juncker told EU lawmakers.
Juncker said that he had banned policy commissioners under his command from holding any secret talks with Britain on its future until London triggers the exit clause known as Article 50 that launches negotiations on Britain's departure.
"No notification, no negotiation," he said, hours before EU leaders begin a two-day summit in Brussels to hear Cameron's position and chart the way forward.
Once Article 50 is triggered, the U.K. would have two years to negotiate its exit, unless all remaining 27 EU nations agree to extend that period. The talks would take into account the future relations envisaged between the EU and Britain, but a new round of negotiations, potentially years long, would be required to finalize that new relationship between them.
Look at the timelines of our posts Huff. LOL, and I WAS out playing golf, at Baltusrol. Surveying the course for a good spot to watch from at the PGA next month. :~)
keebon, good luck with that. After being caught with the Fredriksen and GSL promises fiasco I believe nothing these company's say anymore.
bayman, you beat me by a year on T. I took the whole 77 shares in NYNEX which turned into BellAtlantic which turned into VZ. I forget how many other spin offs came out of that, 2 or 3 I think but my VZ is now worth 6 figures, even after giving away 400 shares to my grandkids. My plan back then worked out to a "T" as VZ throws me some nice income every quarter. I'm still DRIPping my 200 shares of T. GLTU.
mark, that 2002 "correction" was a reverse 1:5 stock split for ATT. I've just got a couple of hundred shares of T left for old times sake. My VZ, the outcome of the spin offs makes that original $5700 T investment back in 1983 my second best investment ever, after ED. Don't mess with it. To me that's a jinx :~)
keebon, I posted that as a possible explanation as to why GSL had suspended it's common dividend. Since they only have 18 vessels they are a relatively small player and if they had customers coming to them complaining they had to lower rates they may have acceded to some of those requests which will have affected earnings. The article was about SSW but also more in general about the state of the containership industry and it's problems.