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In asia overnight, markets there also closed higher. The nikkei was up by 2. 4 . Hang seng was up by 1. 5 . The shanghai composite up by 1 . In europe, in the early trading, again, more green arrows, the dax is the biggest one of the major advancers. Right now, german markets up by. 8 . The cac is up by. 4 of a percent much the ftse at. 1 . Crude oil prices were lifted by renewed talks by opec members to restrain output. We saw that ground pick up on friday and this morning, wti is up another 1 1 3 percent. Moss cow is ready to discuss an ol production freeze. Here are the stories to watch. Not a good day to fly delta. Thousands of passengers around the world experiencing delays this morning due to a system wide computer failure. Delta saying our systems are down everywhere. Thats in response to a user complaint. At delta news hub tweeting, due to a computer outage, flights awaiting departure are delayed. Flights on route are operating normally. Customers should check the status of the ....
Brent now at the highest levels of the year. Gold, copper, et cetera, and the stocks within that complex have all just ripped. And since february 11th, most shorted stocks in the s p 500 up 20 . This is a massive Short Covering rally. Theres two questions you want to answer for yourself. Is the bottom in . The answer to that right now, only is in will there be an exogenous event that takes you back to the lows. Not an economic event. Recession pulling off the table. Secondarily the question, where do we go from here . Higher. We go higher from here. 37. 50 in oil. Higher from here. Higher in all the names that are tied to the goldilocks formation. Youre shaking your head no. Im on the other side of this. I agree that its a short squeeze going on. But ive got to say that we havent solved any of the fundamental issues in the commodity space, which is simply oversupply. Who cares . Eventually, everybody cares, joe. Nope, wrong. Its a ....