1.3499 -0.04 (-2.88%)
Pre-Market: 9:01AM EDT
|Bid||1.3600 x 309400|
|Ask||0.0000 x 312600|
|Day's Range||1.3100 - 1.4100|
|52 Week Range||1.2600 - 4.8600|
|Beta (3Y Monthly)||2.57|
|PE Ratio (TTM)||N/A|
|Forward Dividend & Yield||N/A (N/A)|
|1y Target Est||N/A|
An attack on Saudi Arabian oil production over the weekend shocked markets. Emily Hawthorne, Stratfor Middle East analyst, joins Akiko Fujita on 'The Ticker' to discuss what the potential geopolitical implications of this could be.
On October 6, in a surprise move, President Donald Trump decided to withdraw all US troops from northern Syria. What does this mean for oil?
Shares of Chesapeake Energy Corp. sank 3.4% toward a fresh 20-year low Tuesday, as crude oil futures swung to losses amid growing concerns over U.S.-China trade talks scheduled for later this week. Analyst John Gerdes at MKM Partners reiterated his neutral rating and $1.20 fair value estimate on the oil and gas production company's stock, saying his estimates for third-quarter and full-year production are below expectations. He also expects Chesapeake to cut capital spending to about $1.8 billion in 2020 from about $2.2 billion this year. Meanwhile, crude oil futures dropped 1.3%. Among trade concerns, the U.S. blacklisted 28 Chinese companies, citing their alleged role in human-rights violation, Bloomberg reported that the Trump administration was discussing possible restrictions on capital flows into China and the South China Morning Post reported that the China delegation is already planning to cut short its stay in Washington by one night. The stock was on track to close at the lowest price since March 1999. It has plunged 29% over the past three months, crude oil futures have shed 9.5% and the S&P 500 has lost 2.3%.
Stocks priced under $10 per share may seem cheap on first glance. But stocks with low share prices often end up there because they have gotten hit by heavy selling pressure. Robinhood keeps a running list ...
On September 27, natural gas prices declined 1% and settled at $2.40 per MMBtu. The United States Natural Gas Fund LP (UNG) fell 2% on the same day.
On Thursday, the Pentagon announced the defensive deployment of Patriot missiles in Saudi Arabia. That day, US crude oil fell 0.1% to $56.41 per barrel.
In the week that ended on September 20, US crude oil prices rose 5.9%. On September 14, drones attack crippled Saudi Arabia oil production by 50%.
The market wasn't sure what to make of the interest rate cut. Stocks spent the better part of the day just a bit in the red, but when thrown for a look by the Federal Reserve's decision to lower rates to the tune of a quarter of a point, they slumped in a measurable way. By the time the closing bell rang though, the S&P 500 was back to just a hair better than a breakeven.Source: Shutterstock The broad market might have fared much better were it not for FedEx (NYSE:FDX). Shares of the delivery giant fell nearly 13% after falling short of last quarter's earnings estimates and then dialing back its 2020 outlook. Chesapeake Energy (NYSE:CHK) was a major drag too though, sliding more than 10% lower as investors unwound their buying spurred earlier this week by news that an attack on oil fields in the Middle East posed a threat to global supply.Among the winners that helped keep the S&P 500 out of the red was General Electric (NYSE:GE), albeit just barely. Shares of the beleaguered industrial giant mustered a little more than a breakeven on the heels of improving confidence in the company's recovery prospects.InvestorPlace - Stock Market News, Stock Advice & Trading Tips * 8 Dividend Stocks to Buy for a Recession As for stocks worth a closer inspection moving into today's action, take a look at the stock charts of H & R Block (NYSE:HRB), SYSCO (NYSE:SYY) and The Western Union Company (NYSE:WU). Here's why. Western Union (WU)Were it just the loss shares of The Western Union Company logged on Wednesday, the matter might be dismissible. In fact, it wouldn't even be interesting to take note of.Between the shape of yesterday's intraday action though, and the context in which it happened, it's difficult to ignore. While the bigger-picture uptrend is still completely intact, it's nearing a breaking point, and is more vulnerable now than it has been at any point in the past several months. * Click to EnlargeYesterday's start was a firmly bullish one, but over the course of the day, that gain was turned into a decided loss. Such an intraday swing is concerning, even if it has not yet dragged WU below its blue 20-day moving average line. * The underpinnings for what's quickly turning into a new downtrend, however, is the bar from Sept. 12 (highlighted). After a week and a half of gains leading up and into it, the open and close at the middle of that high/low range. This often occurs at pivot points, in this case out of an uptrend and into a downtrend. * It's only evident on the weekly chart, but this month's red-hot bullishness has pushed Western Union deep into overbought territory, according to the RSI indicator. H & R Block (HRB)Back in late June, H & R Block shares were knocking on the door of a huge technical ceiling. The stock had just pushed up and off of a horizontal floor, and though not yet above a key high, the momentum at the time suggested such a move was likely.It never happened. In fact, HRB stock fell all the way back to near that familiar floor, where it's still applying pressure. The risk of a breakdown still looms large, and another slightly different support level has since come into play. * 10 Companies Making Their CEOs Rich * Click to EnlargeThe big trading range that has remained intact for nearly two years now is framed with yellow dashed lines on both stock charts, plotted between $24 and $29, give or take. * In the meantime, a new rising floor has materialized. Plotted in light blue on both stock charts, it connects all the key lows since June of last year, including yesterday's low. * Although there's bearish momentum in place here, we've seen that before to no avail. A bounce is just as possible given the situation. Either outcome could be tradeworthy though. SYSCO (SYY)Finally, a little more than two months ago, SYSCO was pegged as a good rally candidate. Although at the time it was stalling at the resistance dished out by the 50-day moving average line plotted in purple on both stock charts, the bigger-picture framework boded well.That prospect has since panned out. Although it took a pretty good pullback and then quite a running start to get SYY shares over their hump, now that they are, there's a ton of room to run. * Click to EnlargeThat last look is marked with a yellow arrow on the daily chart. Shares technically moved above it, but had to come back and kiss the white 200-day moving average line to fully regroup. * This rebound effort is still all part of a much bigger trading range that put a new rally in motion late last year. The confines of this expanding wedge pattern are marked in blue dashed lines on the weekly chart. * The same weekly chart suggests SYY stock could climb to $90 or higher before major resistance is met. The broad market, of course, will have to help out for that to happen.As of this writing, James Brumley did not hold a position in any of the aforementioned securities. You can learn more about him at his website jamesbrumley.com, or follow him on Twitter, at @jbrumley. More From InvestorPlace * 2 Toxic Pot Stocks You Should Avoid * 8 Dividend Stocks to Buy for a Recession * 10 Companies Making Their CEOs Rich * The 7 Best S&P 500 Stocks of 2019 So Far The post 3 Big Stock Charts for Thursday: Western Union, SYSCO and H & R Block appeared first on InvestorPlace.
Today, the EIA plans to report natural gas inventories for the week ended September 13. A negative inventories spread could support natural gas prices.
Today at 12:44 PM ET, US crude oil prices declined 4.1%. News reports indicate that Saudi Arabia plans to restore its oil production by early October.
Midstream biggie Energy Transfer (ET) said on Monday it would buy SemGroup (SEMG) for $5.1 billion. Meanwhile, supermajor ExxonMobil (XOM) confirmed its 14th oil discovery off the coast of Guyana.
Shares of Chesapeake Energy Corp. tumbled 13.8% in very active afternoon trading, weighed down by the pullback in crude oil prices following the previous session's rocket ride. Trading volume topped 74.6 million shares, compared with the full-day average of about 60.3 million shares, and enough to make the stock the most actively traded on the major U.S. exchanges, according to FactSet data. Chesapeake's stock had run up 15.7% on Monday, as the weekend attacks on Saudia Arabian oil facilities sent crude oil futures shooting up 15%, the biggest one-day gain since January 2009. On Tuesday, crude futures fell 5.6%, extending declines after Saudi's energy minister reportedly said oil production will be fully back online by the end of the month. On Tuesday, crude oil prices dropped 5.6%. Chesapeake's stock has lost 15.5% year to date, while the SPDR Energy Select Sector ETF has gained 8.4% and the Dow Jones Industrial Average has advanced 16.0%.