Author: Stephen Innes

Stephen Innes
Stephen Innes

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Recent and archived work by Stephen Innes for The Bull:

Stocks get a boost from better than expected jobs data

US equities were stronger on Thursday, with the S&P closing 0.5% higher after a great beat on payrolls in June. But the less impressive jobless claims data soured the sweet mix. European equities fared better, Stoxx600 rose 2%. Overall, it was good but not too good of a report, which suggests the Feds will remain…

Oil remains under pressure

Oil prices jumped after settling -1.08 % when The American Petroleum Institute (API) survey estimated a significant draw in crude oil inventories of 8.156 million barrels for the week ending June 26, which was much higher than analysts guesses. However, bullish appetites could be tempered somewhat as distillate inventories were up by 2.638-million barrels for…

Rising Covid-19 cases in the US dominate investors’ minds

There was no need to set the alarm clock on Monday as investors spent another restless night tossing and turning after another gnarly Covid-19 weekend news cycle. Not to mention just the thought of the Monday morning market blues likely provided that wake call. The S&P e-mini and oil markets are opening slightly down this…

Bullish oil traders curb their enthusiasm

Oil bulls started to curb their enthusiasm last week after the resurgence on Covid-19 in the most populous US states. And indeed, the run of the news flow could test the market resolve that Brent $40/barrel is giving the appearance of something of a floor. Last week, investors may have been too eager to take…

Decent economic data buoys confidence

Decent data overnight buoyed risk assets yet again, but the virus overhang continues to thwart bullish ambitions. US equities were stronger again Tuesday, the S&P closing 0.4% higher after gains in Europe and Asia and oil down a bit after the API exacerbated intraday losses. The June preliminary PMIs helped, with increases in activity than…

Oil rally runs out of steam

After running into a wall off offers at $41.50 into the NYMEX open, the enduring Oil market rally appears to have run out of steam as profit-taking initially set ahead of some critical inventory data, which was likely exacerbated by technical factors as the pieces entered the upper border of the March price gap. That…

Trade war back in the agenda

Risk assets are taking a knock after White House adviser Peter Navarro declared the trade deal between the US and China as over as President Trump has decided to terminate the deal. Well, that changes things up a bit and the market thesis that that central-bank liquidity is all that matters will certainly be put…

Oil prices up as supply declines

Last week’s momentum that was driven primarily by supply-side has carried through to the early part of this week after the US rig counts fell again. US curtailments will continue to make up a large part of the supply-side equation. US onshore production has now given up two full years of gains. It supports the…