Economy

The master resource just keeps slogging higher, rising +3.98 [+4.58%] to 90.81, breaking out to the new 8-year high on Friday. Is it geopolitics? Shortages? Lack of exploration over the past two years? The end of the pandemic? Yes, I think so. Fun fact: OPEC has raised its production quotas by 400,000 bpd, but the…

The Fed staged its every-six-week meeting this week, with the press conference happening at 2:30 PM on Wednesday. Did anything exciting happen? Let’s go take a peek at Wolf’s site. He’s deconstructed Powell’s remarks plus the Fed Statement released at 2:00 PM that same day. Yields Spike, Stock Dump, Futures Fall Powell explained that “monetary…

It was a mostly-boring week for economic data. Right now, I’m looking for signs of an impending SPX correction, given the whole setup of “rising rates” right alongside higher oil prices – a re-run of 1973.  I’m starting to see the equity-market correction signals mount. From last week: bad consumer sentiment (67) falling retail sales…