Theres is a chance that prices could plummet to 20 a barrel and the probability of that happening is rising. The report was part of the reason why crude futures fell 3 today to settle at 44. 63 a barrel. Not everyone agrees with that scenario. Jackie has more from the new york exchange. The possible low . 20 a barrel. Lower for longer says the chance is increasingly likely as storage continues to fill. There is a lot of uncertainty. It could be u. S. Production. A 40 barrel, where our base case is set, is the level at which you see a drop in drilling. We saw it today for a drop in rig counts. If you dont bring Global Production down long enough, then youre like i to run into Storage Capacity constraints. Due to an increase in supply, the base case calls for 30 a barrel oil in a month. But some are skeptical. I think the oil will not go that much lower here. I think once we get to these levels, the market is susceptible to the up side. You will see an increase in consumption. You will s
A new report tonight say theres is a chance that prices could plummet to 20 a barrel and the probability of that happening is rising. The report was part of the reason why crude futures fell 3 today to settle at 44. 63 a barrel. Not everyone agrees with that scenario. Jackie has more from the new york exchange. The possible low . 20 a barrel. Lower for longer says the chance is increasingly likely as storage continues to fill. There is a lot of uncertainty. It could be u. S. Production. A 40 barrel, where our base case is set, is the level at which you see a drop in drilling. We saw it today for a drop in rig counts. If you dont bring Global Production down long enough, then youre like i to run into Storage Capacity constraints. Due to an increase in supply, the base case calls for 30 a barrel oil in a month. But some are skeptical. I think the oil will not go that much lower here. I think once we get to these levels, the market is susceptible to the up side. You will see an increase i
Press releases today this did not end ammic bring. We have more details on what happened here today. Yes. Also yahoo getting active. Shares surged today as investor taking a big position in the stock. There it is up. We will have the latest on whos behind this and how ceo is reacting. Also, of course, these markets, i mean, volatility is back in a big way this week with the dow bouncing back after one of the worst days of the year yesterday. The dow enjoying its best day in seven months or something i saw. 181 points. Undoing some of the damage of yesterday and we shouldnt forget the week its been. Tripledigit moves in both directions. Maybe its that time of yore. We got the s p up 17 points. We are at 1983 at this hour. Nasdaq doing very well up 44 points. But again, i mean, we have had 100point swings for the dow every day this week. Multipercentage moves for all the major averages. Three of them down. Two of them up. Look at the russell. Up right now at 1118. Lets talk about it. In
Cyber monday sales were. U. S. Markets said to keep chugging higher as russia warns of a possible slide into recession. First up, apple in focus after the stock fell more than 3 yesterday. Raising their price targets on apple. One says this could be the top of the iphone growth cycle. They are relatively cautious here. We have blown through some targets. Kaiu has a sector perform. That is a guy i frankly dont listen to. I listen to people who liked it and are calling tops because a guy who has fought it doesnt have as much credibility. Im looking at the canacord note. Expecting the 200 million iphones, the merrill note. Pacific crest wants to trade apple. I believe trading apple is a suckers game. They were skeptical going into the launch of the 6. If they didnt have something mindblowing, he probably would down grade them. Didnt do it till now and missed a run. Ive got to tell you, there is talk of multiple praction. The multiple here is 14 times earnings. Ive got stocks selling at 1
We didnt see many of them at all today. Dow gaining 27 points, nasdaq climbing. 36 . You need to understand how extraordinary this whole rally is. Were seeing wholesale reevaluations of what the market will pay for Companies Future earnings. Its remarkable because typically you need something to happen to trigger this kind of euphoric buying behavior. But nothings happened to justify paying higher prices for the same earnings estimate. This is all about an animal spirited bull market that i have to admit seems to know no bounds. Think about it. Think about the absence of catalysts. Start with the Federal Reserve. What did the Federal Reserve do to inspire this market . Actually, nothing. Federal reserve did nothing at all. It merely stayed the course. It said it would be patient. Yet everyone told me wow, thats it. All it did was do what it always does. How about oil . All it did this week was nothing, meandering around the 50s. Earnings have been done. Some good ones, red hat, the ope