tyb
Oil Jumps, Small Caps Dump On Lowest Volume Day Of The Year
DOW
Volume 229,379,885
Avg. Volume 304,816,774
NAS
Volume 1,607,923,224
Avg. Volume 3,162,201,290
SP500
Volume 1,726,116,787
Avg. Volume 3,628,615,483
the daily averages have been dropping too. Since the start of the year, and then some, all below or barely at daily averages which cause's the daily averages to drop too
The gap between global money-supply-fueled equity exuberance and macro- and micro-economic data has never been greater.
Nothing to see here.. move along.
With Europe away, volumes were the lightest of the year as China tumbled.
US Small Caps were the biggest laggard today and Nasdaq led, barely closing green…a buying-panic began at 1530ET which made things look a little better.
NOTE - it seems the machines forgot that EU was closed as they rallied the market into the "EU Close".
This is the 9th straight session of oscillating gains and losses for The Dow.
(this drives all of the system mad as they have ZERO idea of what to do with this type of 'action')
Small Caps have now under-performed Mega Caps for seven straight trading days.
Treasury yields were higher on the day, despite equity weakness (long-end under-performed).
30Y remains below 3.00%. (cap #2)
The yield curve steepened further.
PMs trod water along with the dollar but crude spiked (cap#3) as copper was dumped.
WTI soared overnight - smashing through a significant technical level - on the back of Trump Iran waiver headlines. (cap#3 again)
But tried and failed to break $66 twice.
Finally, this morning's dismal housing data sent US Macro Surprise Index to its lowest since June 2017.
Because nothing says record high stocks like the worst macro economy in two years and worst relative to the world.
We're gonna need more cowbell (but no more cows).
https://www.zerohedge.com/news/2019-04-22/oil-jumps-small-caps-dump-lowest-volume-day-year
https://finance.yahoo.com/quote/%5EGSPC?p=^GSPChttps://www.marketwatch.com/investing/bond/tmubmusd10y?countrycode=bx
https://www.dailyfx.com/crude-oil
true dat
U.S. to end all waivers on imports of Iranian oil, crude price jumps
WASHINGTON (Reuters) - The United States on Monday demanded that all buyers of Iranian oil stop purchases by May 1 or face sanctions, a move to choke off Tehran’s oil revenues which sent crude prices to six-month highs on fears of a potential supply crunch.
The Trump administration’s move on Monday not to renew exemptions granted last year to major buyers of Iranian oil was a more stringent outcome than some nations had expected. Several importers had hoped to continue buying Iranian oil without facing U.S. sanctions, according to sources familiar with discussions between the United States and other nations as late as last week.
The United States reimposed sanctions in November on exports of Iranian oil after U.S. President Donald Trump last spring unilaterally pulled out of a 2015 accord between Iran and six world powers to curb Tehran’s nuclear program. Eight economies, including China and India, were granted waivers for six months, and several had expected those exemptions to be renewed.
Tehran remained defiant, saying it was prepared for the end of waivers, while the Revolutionary Guards repeated a threat to close the Strait of Hormuz, a major oil shipment channel in the Gulf, Iranian media reported.
The White House said it was working with top oil exporters Saudi Arabia and the United Arab Emirates to ensure the market was “adequately supplied.” Traders, already fretting about tight supplies, raised skepticism about whether this more stringent approach, along with ongoing sanctions on Venezuela’s oil industry, could backfire in the form of a major spike in prices.
“It is a surprise that the requirement to cease importing Iranian oil should come at this next May deadline,” said Elizabeth Rosenberg, director of the energy, economics and security program at Washington-based Center for a New American Security. “Having only several weeks’ notice before the deadline means there are lots of cargoes booked for May delivery. This means that it will now be harder to get it out by the deadline.”
Iran’s oil exports have dropped to about 1 million barrels per day (bpd) from more than 2.5 million bpd prior to the re-imposition of sanctions. U.S. Secretary of State Mike Pompeo, in a briefing Monday, said “we’re going to zero across the board,” saying the United States had no plans for a grace period beyond May 1 for countries to comply.
The White House intends to deprive Iran of its lifeline of $50 billion in annual oil revenues, Pompeo said, as it pressures Tehran to curtail its nuclear program, ballistic missile tests and support for conflicts in Syria and Yemen.
A senior administration official said President Donald Trump was confident that Saudi Arabia and the United Arab Emirates will fulfill their pledges to compensate for the shortfall from Iranian oil exports. U.S. Assistant Secretary of State for Energy Resources Frank Fannon said the kingdom was taking “active steps” to ensure global oil markets were well supplied.
https://www.reuters.com/article/us-usa-iran-oil/u-s-to-end-all-waivers-on-imports-of-iranian-oil-crude-price-jumps-idUSKCN1RX0R1
https://www.secform4.com/insider-trading/1162028.htm
https://www.secform4.com/insider-trading/16918.htm