|Bid||24.61 x 2200|
|Ask||24.91 x 1800|
|Day's Range||24.21 - 25.08|
|52 Week Range||22.05 - 37.15|
|PE Ratio (TTM)||N/A|
|Beta (3Y Monthly)||1.69|
|Expense Ratio (net)||0.75%|
Cryptocurrency IPOs Getting Nervous Could the latest round of crypto-volatility be tied to potential IPOs fighting to levitate the market in the face of falling speculative interest? Could be. Bitcoin Cash (BCH-USD) for one is up 26% on the day, blowing past Bitcoin (BTC-USD). Bitcoin Cash happens to be one of the main coins that […] The post Market Morning: Bitcoin Nerves, Dollar Surges, Amazon Go’s, Gas Prices Woes appeared first on Market Exclusive.
The Zacks Analyst Blog Highlights: United States Gasoline, Invesco Dynamic Building & Construction, Materials Select Sector SPDR Fund and AdvisorShares VICE
While most of the sectors took a beating from the hurricane, industries like building supplies, home improvement, car rentals and gasoline benefit in the aftermath of hurricane.
The EIA (U.S. Energy Information Administration) estimates that the US gasoline demand increased 1.4% to 9.8 MMbpd (million barrels per day) on July 13–20. The demand also increased 0.3% from a year ago.
While we welcome healthy renegotiations of antiquated, and probably inefficient, global trade deals with key partners (such as NAFTA), we think diplomacy must precede presidential threats. We see President Donald Trump's hard line posture as a double-edged sword for the health of the U.
Oil prices look to me like they're poised for a continuous increase on the back of growing geopolitical risk. President Donald Trump has reiterated his stand on Iranian denuclearization, anti-Iranian U.S. economic sanctions and implied protection of Israel. On the other side of the power balance, Russian leader Vladimir Putin continues to support the Syrian government, thus implicitly siding with Syrian patron Iran.
The EIA (U.S. Energy Information Administration) estimates that the four-week average US gasoline demand increased 2.4% to 9,701,000 bpd (barrels per day) on June 22–29. The demand also increased by 119,000 bpd or 1.2% YoY (year-over-year).
In the week starting July 2, crude oil (USO) prices have fallen marginally. Crude oil prices fell from last week’s close of $74.15 per barrel on June 29 to $74.14 per barrel on July 3, a decrease of 0.01% so far. On July 3, crude oil prices made a 52-week high of $75.27 per barrel.
Crude oil (USO) prices rose from last week’s close of $68.58 per barrel to $70.53 per barrel on June 26—an increase of ~3%. On May 22, crude oil reached a 52-week high of $72.90 per barrel. Unleaded gasoline (UGA) and heating oil (UHN) have increased marginally this week, by ~0.14% and ~0.15%, respectively.
Year-to-date, crude oil (USO) has risen ~8% from $60.42 per barrel to $65.07 per barrel, continuing the upward move it started in June 2017. Since then, crude oil prices have risen ~54%. Unleaded gasoline (UGA) and heating oil (UHN) prices have also risen this year, by ~14% and ~3%, respectively, with unleaded gasoline being the strongest energy commodity so far. Gasoline and heating oil prices affect refining companies.
From June 18–20, crude oil (USO) prices were on the rise, increasing to $65.71 per barrel from last week’s close of $65.06, a 1% rise. On May 22, Crude oil prices hit a 52-week high of $72.90 per barrel but then retreated. Even heating oil (UHN) increased 1.1% from June 18–20. Gasoline (UGA), however, decreased 0.6% in that period.
On June 8–15, US crude oil July futures fell 1%. On June 15, US crude oil July futures settled at $65.06 per barrel. Last week, the US dollar rose 1.3%—a negative development for oil prices. The PowerShares DB US Dollar Bullish ETF (UUP), which tracks the US dollar, rose 1.3% last week.
This week, crude oil (USO) prices had risen more than 1% as of June 13, from last week’s closing price of $65.74 per barrel on June 8 to $66.64 per barrel. On May 22, crude oil prices reached a 52-week high of $72.90 per barrel but have retreated since then.
From June 1–8, US crude oil July futures fell 0.1%. On June 8, they settled at $65.74 per barrel. Last week, the US dollar fell 0.7%, a positive development for oil prices. The PowerShares DB US Dollar Bullish ETF (UUP), which tracks the US dollar, fell 0.6% last week.
Last week (May 25–June 1), US crude oil July futures fell 3%. On June 1, US crude oil July futures settled at $65.81 per barrel—their lowest closing level since April 10. The US dollar was almost unchanged last week—a steadying factor for oil prices as the US dollar’s recent rise has pressured them. The PowerShares DB US Dollar Bullish ETF (UUP), which tracks the US dollar, was also unchanged.
On May 30, the API (American Petroleum Institute) released its US gasoline and distillate inventory data. The API reported that US gasoline inventories decreased by ~1.7 MMbbls (million barrels) on May 18–25. A Reuters survey estimates that US gasoline inventories could have declined by ~1.37 MMbbls during the same period.
Between May 18 and May 25, US crude oil July futures fell 4.9%—the steepest weekly decline since February 9. On May 25, US crude oil July futures settled at $67.88 per barrel—their first time below the $70.00 level since May 8.
The EIA (U.S. Energy Information Administration) estimates that four-week average US gasoline demand increased 1.6% to 9,521,000 bpd (barrels per day) between May 11 and 18, and by 91,000 bpd (~1%) year-over-year.
For the week starting May 21, crude oil (USO) prices have been leading the decline in energy commodities. Crude oil prices decreased from last week’s close of $71.37 per barrel on May 18 to $70.71 per barrel on May 24—a fall of almost 1% so far. Crude oil prices hit a 52-week high of $72.90 per barrel on Tuesday but retreated from higher levels since then.
On May 23, the EIA released its weekly gasoline inventory data. The EIA reported that US gasoline inventories increased by 1.9 MMbbls (million barrels) to 233.9 MMbbls on May 11–18. However, the inventories have fallen by 5.9 MMbbls or 2.5% YoY (year-over-year).
The API released its US gasoline and distillate inventory data on May 22. The API reported that US gasoline inventories increased by ~0.98 MMbbls on May 11–18. Reuters estimates that US gasoline inventories could have declined by ~1.38 MMbbls during the same period.