Author: Stephen Innes

Stephen Innes
Stephen Innes

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Recent and archived work by Stephen Innes for The Bull:

US stocks higher as fiscal stimulus talks continue

US equities closed out Q3 with another higher close overnight. The statement from US Treasury Secretary Mnuchin saying: “one more serious try” on a fiscal stimulus deal after more talks took place overnight, helped improve investor sentiment. The escalator clause could be the special sauce and maybe how the Republicans try to meet the Democrats…

Oil prices bounce but lower for the month

Oil prices rose the most in two weeks after US stockpiles declined, but Brent still went off the board -6 % last month. Painting a much more flattering picture of US oil demand than was expected, there were some unexpected strong numbers in the weekly oil data report as Crude draw against consensus. And while…

Markets eye US presidential debate

Buckle up, it’s debate time and the pure essence of gold comes to the fore as uncertainty is a commodity that the market is not short of these days. Markets had mixed news to contend with ahead of the US presidential debate set to take place shortly: rising infection rates in New York pose a…

Oil falls on fears for demand recovery

Oil futures fell precipitously on Wednesday amid mounting fears the oil demand recovery in the United States, the world’s biggest oil consumer, could slow due to Covid-19 cases’ resurgence in New York, which could lead to stricter mobility restrictions in the economic powerhouse North Eastern corridor. Oil pared some of the losses after the American…

Risk-on sentiment pushes stocks higher

With the prevailing attitude in the market that stocks can not fly unless banks take off, financials did not disappoint overnight, leaving a chorus of unsuspecting but welcoming investors agog as the S&P500 roared +1.6%, with bank stocks among the better performers. A similar theme in Europe, with a 2.2% rise in the Stoxx600, the…

Oil nudges higher as the US dollar weakens

In line with the broader market and a slightly weaker US dollar, oil markets nudged higher overnight on some glimmer of optimism that the hugely underpriced stimulus deal could arrive on the oil market doorstep as early as October. Simultaneously, earnings in China’s colossal production and operations engines provided further evidence of a robust economic…

Markets to focus on payrolls and presidential debate

This week is all about payrolls and Presidential debates. But political malevolence and the torrent of global pandemic concerns continue to rattle on investors’ nerves. The doomy mood music’s soundboard remains tuned to growing concerns about rising Covid-19 case counts and whether policymakers have ammunition to react. In the US, this has centred on whether…

Oil inching higher on robust China data

Oil prices are inching higher at the open this morning, buoyed by robust industrial data from China released over the weekend and even more optimism over a US stimulus package. On Sunday, Nancy Pelosi and US Treasury Secretary Mnuchin agreed to continue the conversations in the day ahead. The stimulus check would provide a considerable…

US stocks score minor gains

US equities finished slightly higher overnight as investors turn more optimistic on the possibility of a US stimulus bill that would provide a lively bounce to the economy at the perfect time, just as consumers turn downcast with the coronavirus showing signs of 2nd and 3rd wave propensity. At this point in the recovery, a…

Oil bounces on US stimulus hopes

Oil prices bounced overnight as investors turned optimistic that the US Congress may resume stimulus discussions that have been stuck in the swap. Lawmakers were all ears after a chorus of US Federal Reserve committee members were again at pain to point out the need for additional fiscal support. And cries from the world’s top…