|Day's Range||95.00 - 95.95|
The past two days have seen something of a storm, especially in the Indian Twitterverse, after Tom Nichols, a teacher at the US Naval War College in Rhode Island, posted his views on the subject. Indian food is terrible and we pretend it isn’t. Nichols may or may not have based his views on authentic culinary fares from India, or even south Asia, but that is irrelevant.
Based on Friday’s price action and the current price at $57.66, the direction of the January WTI crude oil market into the close is likely to be determined by trader reaction to the main Fibonacci level at $57.36.
The stock markets did very little during the trading session on Friday to in the week, but at this high level that’s actually a good sign. It’s possible that the market may simply kill time instead of pullback, both of which should send this market higher.
The oil and gas industry is under attack, facing opposition from climate activists and Hollywood actors, but corrupt government and the industry itself are equally big enemies
US plane manufacturer Boeing and its European nemesis, Airbus, are in hot water after the World Trade Organization last week found that both received billions of dollars in illegal subsidies over the past 15 years, including cheap government loans and state tax credits.
If you spot Wei Sing Goh on your next flight, you might want to hide the liquor. On Aug. 13, Goh boarded a Japan Airlines flight headed to San Diego, California from Tokyo’s Narita airport, according to a criminal complaint filed last month in federal court. Roughly an hour into the flight, the document explains, Goh drank his first mini bottle of wine.
The futures market can turn a nickel into a fortune, a fortune into massive debt and (as an added bonus) has quite efficiently exposed pretty much every psychic out there as a fraud. To understand the futures market, we first need to understand the concept of a "futures contract." This is an investment product built around buying and selling commodities at a later date. Literally, a futures contract is an agreement to buy or sell some commodity (usually) on a given date for a given price.
The national DAT Van Freight Rate Index which measures the average spot rate for dry van truckloads in the U.S. excluding fuel and other assessorial charges averaged $1.50/mile in June. This number fell well below expectations according to the freight futures settlement price which started the month over $1.66/mile, meaning futures market participants expected rates to be much higher than they were this June.
It seems like nothing is safe from the wrath of US president Trump’s trade war. His administration is already levying an extra 25% tariff on $250 billion worth of Chinese imports. After threatening to impose extra duties on “essentially all” Chinese products the president is headed back to the negotiating table with Xi Jinping, the Chinese president.