Apple (AAPL) is falling nearly 2% in heavy volume, breaking below a significant technical level. With the breach of the 50-day line, that also puts Apple below a prior buy point at 156.75. But the key question here: Does Apple's action result in a sell signal? The short answer is that it depends on how the stock closes today, and whether you're a long-term or short-term shareholder. Apple was down 1.9% to 155.67 in afternoon trading in the stock market today, tumbling as low as 153.83 on Apple Watch connectivity concerns. Volume is more than double normal levels. If Apple closes below the 50-day, it could be seen as a sell signal for those that bought the stock at the 156.75 entry. But we need
The Federal Reserve took a small step to begin unwinding its crisis-driven asset purchases on Wednesday, but since the move was widely expected, the meeting's real drama hinged on the outlook for future rate hikes. Despite a string of benign inflation readings, Fed policymakers stuck to their guns, indicating a likelihood of four more rate hikes through the end of 2018. The updated outlook reflects a stark contrast with financial-market pricing, which sees just one rate hike (in December) through August 2018, according to the CME Group FedWatch tool. Starting in October, the Fed said it will gradually begin scaling back its $4.5 trillion balance sheet by letting $10 billion in principal run off per month, rather than continuing to reinvest all proceeds of maturing Treasury and mortgage bonds.
Hurricane Harvey pummeled the country’s energy infrastructure, and there are few incentives in place to promote renewables. During this year’s record-breaking hurricane season, oil rigs and refineries were just as exposed as any structure on the precarious Gulf Coast, and their owners were limited to the same options as everyone else: evacuate, prepare, and hope the storm was merciful. The devastation Harvey and other storms left behind illuminates just how defenseless oil and gas infrastructure is in the face of hurricanes that are growing in magnitude and frequency and challenging the permanence of the oil and gas industry's presence in the Gulf. Harvey shut down 22 percent of the nation’s refining capacity, vitally disrupted the oil and gas transportation networks that deliver energy to much of the U.S., and caused damage to facilities that leaked more than a million pounds of dangerous air pollutants into communities around Texas.