Forecast for global growth. The business ramifications of a post fidel castro world, will the president elect reverse the thawing of relations . Plus, the American Consumers back, at least according to estimates from the shopping weekend. But did retailers benefit . And at t goes over the top, another Online Service aimed at cord cutters. Were going to have those details in a moment. First up, a new trading week after the three major indices closed friday trading at record highs. Same goes for the russell which is coming off its 15th straight day of gains since february 96. Small caps up 12. 7 since the election. The russell, guys, only had two streaks longer than this one in its history. This is remarkable rally because its based on everything that this guy says. Like anything that trump said is going to come true. And i think thats because people just feel like the republican partys going to fall in line. You know, i have to tell you that the agencies control a lot of what happens to
Index that is normally, joe, thought of as a leading indicator for a bold market. What time do you get up in the morning . That was a great segue. That just flowed right into that. What time did you get up . 3 30. Did you watch this show yesterday . Yeah. If we analyze that, what kind of return it is is . Thats incredible. So you dont know. You need a ti calculator. Sorry. I wasnt taking notes. Well, you would remember. Youre a mathematical genius, right . It is 1250 . You do it on the ti calculator. You get three and a half times your money. Pretty good. I thought that was interesting. You didnt like the facts . We probably wont. I dont think so. But it would be nice. We do need, like you should probably have that program. What is 5 impounded over 12 months . It is a lot more than 60. Yeah. It is the eighth wonder of the world. We need a ti 83 calculator. I think mine got sold at a garage sale for like 10. That is not a good return to our investment. Youre at the early part of your ca
And germany markets there closed for a public holiday. Oil prices are rising this morning. A longterm bear at Goldman Sachs now says the market has ended two years of oversupply and flipped into a deficit. The firm says this allows or follows disruption supplies from nigeria, venezuela, the United States and you can see wti is up by about 2 points. We were at 30 now its back to 50 and youre doing the super spike. The super spike came out a while ago. Remember the London Office . The supply has been shrinking. Is it ready to go up to 60 or 70 . Because they already missed the move from 27 back to 50. Yeah. But remember the super spike, that came out of gold mans London Office at the time. Yeah, i guess. But goldman they have many analysts. Other analysts will say its going down and some say up. Just another brand. Have you noticed three straight weeks since that person was here to say we are at an important level. What happens in the next weeks decides. Right. We are at factory data in
Like exxon, chevron, and pretty much nearly every other oil stock out there. Lets find out the reason and get to Jackie Deangelis at the nymex. Thats exactly right. Near 7 increase in oil prices on the day today. Remember, this is after the seesaw week here and, of course, we are near session highs at this point. Some buying the dip here, some technical buying, driving the price higher, but there is fundamental strength to because traders are looking at numbers out there, not just from the u. S. , but also in europe and taking them with a positive tone. Look at u. S. Production over the month of march. Ive got the numbers for you. A million barrel per day decline here in the United States, were just over 9 million as of april 1st. Next week could be that inflexion point where we drop under that level. Remember, this is down from 9. 6 Million Barrels june last year, so significant drop here. Those rig count declines that were going to hear about later in the hour starting to maybe have
U. S. Equity strategy at jpmorgan to talk about where the market goes. The coolest on wall street. Reminds me of dubrovnik. Melissa ran through the two month charts which look very impressive. You look at the dow over the last year and the s p over the last year, it feels like we have careened higher and now were back to this level that we keep fighting up against, whether it is the 21,000 leave, the 18,000 level or 2100 level. Where do we go to from here . So market had impressive rallies since february lows. Up 13 , 14 . I would say probably most of this has been driven by short covering. Technicals i think for most part at this point have run their course. Investor positioning adjusted, equity multiple is pretty much at the highs around 72. 5, so i think in order to turn more constructive from these levels on, you need some form of fundamental catalyst and some form of earnings and reacceleration. To me that pretty much means we need more dollar weakness. If we dont get that, i just