The big new for the week was the agreement among a number of the non-OPEC (Organization of the Petroleum Exporting Nations) nations to reduce their oil output by 588,000 barrels a day. This was in addition to the 1.2 million cut agreed upon by the 13 member nation OPEC. The other major market event for the week, was the decision by the United States Federal Reserve (Fed) to raise interest rates this week by 0.25%. It is only the second increase since […]
Jeffrey Hagenmeier
Glut In Global Crude Oil Supplies Likely To Continue
Many analysts and investors are insisting that the glut in global crude oil supplies is coming to an end. Throughout the second half of 2016, speculators drove up prices in anticipation of a production cut promised by OPEC (Organization of the Petroleum Exporting Countries). The oil cartel’s members pumped 33.87 million barrels a day in November, an increase of 150,000 from the previous month. This was despite their promise to slow output. The amount of oil in storage alone is now near […]
Italy: The Next Domino To Fall?
The resignation this month of Matteo Renzi the Prime Minister of Italy, may have ended the 63rd government in 70 years. His departure was the result of a voter rejection in a referendum, for a series of constitutional reforms. The changes would of enabled him to more easily enact legislation, that he deemed necessary to help the presently stagnate Italian economy. Mr. Renzi joins the ranks of other European leaders, who have found that the electorate is growing increasingly impatient with the […]
Weekly Market Review & Target Fills December Week 2
The big new for the week was the resignation of Prime Minister Matteo Renzi of Italy, following the referendum on Sunday. The politically center to left Mr. Renzi had previously stated, that he would resign if the vote for a reform of the Constitution failed in a popular vote. It was rebuffed by 59.6% of the electorate. The presidential election in Austria last Sunday saw a reaffirmation of victory for Alexander Van der Bellen. The former Green candidate had preached moderation and […]
Weekly Market Review & Target Fills December Week 1
The big new for the week was the deal to cut crude output within OPEC (Organization of the Petroleum Exporting Countries) that was agreed to in Vienna, Austria by the oil cartel on November 30th. OPEC agreed to a cut of some 1.2 million barrels a day, which would equate to a 4% to 4.5% cut in cartel production. Globally, this will amount to a reduction of between 1% and 2% of output. […]
Death Of Fidel Castro Will Bring Negligible Change In Cuba
The death of Fidel Castro at the age of 90 last week, definitely ends an era in Cuban history. He is no doubt, the most important leader of this island nation in the 20th century. His influence, will continue to determine the course of economic and political development inside Cuba. For the majority of the Cuban people, they cannot remember a time when Fidel Castro was not their leader or at least as in recent times, was overlooking developments within the country. There […]
United States Republican Party Made Historical Record Gains During Obama Presidency
The large electoral losses suffered by the Republican Party during the waning years of the Bush Presidency in 2006 and 2008 were well publicized. What has been less widely known, is the steady downward trend in the fortunes of the Democratic Party, since the inauguration of Barack Obama. At the same time, there has never been a time when the Republican Party has been in a position of such ascendancy. Not since the founding of the party in the 1850’s, have Republicans […]
Weekly Market Review & Target Fills November Week 4
The major news for the week, was the current rally in the global equity markets including the United States, following the news of a Trump victory in the U.S. presidential elections. All four main indices in the United States, hit new lifetime closing highs at the same time. This is the first occurrence since December 31, 1999. The main index, the Dow, has now surpassed 19,000. There are some analysts that are worried that many American based stocks are now overvalued, with […]
Weekly Market Review & Target Fills November Week 3
The major news for the week, was the ongoing rally in the global equity markets including the United States, following the news of a Donald Trump victory in the U.S. presidential elections. The main indices in the United States and in Germany hit new highs. The Dow peaked at just below 19,000, a new all time high. The German Dax reached a new high for the year, just below 11,000. Meanwhile, it has been estimated that more than $1 trillion USD (United […]
India Eliminates Paper Currency In Move Against Corruption
Last week the Prime Minister of India made a surprise announcement. That within 24 hours, the country’s largest bills would no longer be accepted as legal currency. The financial move was initiated, to deal with the rampant corruption that permeates throughout the nation. The government is removing the 500 and 1000 rupee notes, that is the equivalent of $7.50 and $15 dollars USD (United States Dollar) respectively. This will remove near 86% of the domestic currency that is now circulating in India, […]