11Sep2015 Market Update: Markets Melting Upwards, Solidly In The Green, But For How Long Investors Ask As Oil Creeps Up And The U.S. Dollar Slips
Written by Gary
U.S. Markets recovered nicely from the morning negative slump up to a respectable plus 0.3% only to fall off the noontime high and start a trend sideways that has just started to melt upwards. WTI oil was trading near its support and is now climbing with the markets along with the U.S. dollar aggressively testing its support.
There is little news that can support this bullish rise. Volume is falling and many investors are looking to sell or at least reduce their exposure.
Goldman warns that crude could collapse to $20 a barrel and explained, "The oil market is even more oversupplied than we had expected and we now forecast this surplus to persist in 2016," although it also said that $20 isn't its base case scenario. Isn't this the same company that predicted in the not so distant past that oil would hit $150-$200 a barrel? My 'guess' is that we will see another attempt at the recent low of the mid 37's.
The University of Michigan Confidence came in at 85.7 actual vs 91.1 estimate, 91.9 prior.
Traders Corner - Health of the Market
What Is Moving the Markets
Earnings Summary for Today
Earnings Calendar provided by Investing.com.
leading Stock Positions
Leading Stock Quotes powered by Investing.com
Current Commodity Prices
Current Currency Crosses
The Forex Quotes are powered by Investing.com.
To contact me with questions, comments or constructive criticism is always encouraged and appreciated:
Econintersect Live Market
|.... and keep up with economic news using our dynamic economic newspapers with the largest international coverage on the internet|
|Asia / Pacific|
|Middle East / Africa|
This Web Page by Steven Hansen ---- Copyright 2010 - 2016 Econintersect LLC - all rights reserved